On Saturday, President Donald Trump said it a tweet that he’d love to see Saudi Aramco IPO to come to the US. Photo: ReutersLondon/Kuwait/Dhahran: The UK government agreed to a $2 billion loan guarantee for Saudi Arabian Oil Co. (Saudi Aramco) as Britain and the US compete to host the state-run energy giant’s proposed initial public offering (IPO), likely to be the largest in history. On Saturday, President Donald Trump said it a tweet that he’d love to see Aramco comes to the US. To put the $2 billion figure in perspective, in the past five years, Britain’s export credit agency has provided £14 billion ($18 billion) in support for UK sales abroad. Choosing New York in addition to Tadawul, the Saudi exchange, could boost the longstanding strategic alliance between the two countries.

Source: Mint November 09, 2017 15:45 UTC