{"id":83245,"date":"2024-02-08T00:00:00","date_gmt":"2024-02-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/is-aramco-closing-in-on-indian-investments\/"},"modified":"2024-02-08T00:00:00","modified_gmt":"2024-02-08T00:00:00","slug":"is-aramco-closing-in-on-indian-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/is-aramco-closing-in-on-indian-investments\/","title":{"rendered":"Is Aramco closing in on Indian investments?"},"content":{"rendered":"

Good morning, friends, and happy Thursday to you all. <\/strong>We have a blockbuster issue for you this morning, leading off with news that Savola is divesting Almarai (where its investment is up >100x since it first bought into the dairy giant) to focus on fresh growth going forward. <\/p>\n

^^ We have the rundown on Savola, the latest on IPOs by Modern Mills and Avalon, a wrapup of the PIF\u2019s private-sector conference \u2014 and more \u2014 in this morning\u2019s news well, below. <\/p>\n

Up first:<\/strong><\/p>\n

<\/a> #1- Oil giant Aramco is in talks with Indian firms on potential investments<\/strong>, Reuters<\/a> reported yesterday, citing statements by Aramco\u2019s Senior VP Faisal Al Faqeer during India Energy Week in Goa. \u201cHopefully we will see some announcements soon on investment in Indian companies,\u201d he said, without providing further details on the investments.<\/p>\n

India is the world\u2019s third-largest importer and consumer of oil<\/strong> and has been pushing<\/a> for years to bring Aramco on side for its planned strategic reserve program. <\/p>\n

<\/a> #2- Some of the Kingdom\u2019s fresh produce will be making its way to Europe.<\/strong>Dava Agricultural<\/a> signed a first-of-its kind agreement with Dutch fruit and vegetable trader Lehmann & Troost<\/a> to sell vegetable crops grown through hydroponic farming to the Netherlands and beyond in Europe, state news agency SPA<\/a> reported yesterday. The surplus produce includes tomatoes, cherry tomatoes and bell peppers. <\/p>\n

Hydroponic farming? <\/strong>It is a farming technique where plants are grown using water-based mineral nutrient solutions rather than soil. It helps provide fresh produce in regions with extreme drought and low soil quality.<\/p>\n

#3- Bahrain\u2019s Crown Prince Salman bin Hamad Al Khalifa was in town for talks with Crown <\/strong>Prince and Prime Minister Mohammed bin Salman<\/strong>, SPA<\/a> reported yesterday. They two chaired the Saudi-Bahraini Coordination Council and inked a number of MoUs in energy, economy, and capital markets.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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THE BIG STORY ABROAD- <\/p>\n

As has been the case most of this week, there\u2019s no single big story abroad <\/strong>that has captured the imaginations of the business or mainstream press. Among the stories you need to know about this morning \u2014 or might simply find interesting:<\/p>\n

Republican Nikki Haley lost to \u201cnone of these candidates\u201d<\/strong> in what the New York Times<\/a> calls an \u201cirrelevant\u201d Nevada primary, but she\u2019s still staying in the race in a bid to \u201cbroaden voters\u2019 imagination of what\u2019s possible, both for her prospects in the 2024 Republican presidential primary, and for the nation.\u201d<\/p>\n

<\/a> The S&P hit a <\/strong>record high<\/a><\/strong>as strong earnings continued and tech stocks rallied. Among those reporting earnings: Uber posted an operating profit for the first time <\/strong>on a full-year basis<\/a> (you can check out its earnings<\/a> here).<\/p>\n

AND- Cairo is playing host today to a fresh round of ceasefire talks<\/strong>, but Israeli PM Benjamin Netanyahu tried to pour cold water on the conversation, dismissing Hamas\u2019 goal of a long ceasefire as \u201cdelusional.\u201d<\/a> US Secretary of State Antony Blinken is still pushing Israel to play ball<\/a>.<\/p>\n

MORNING DISTRACTIONS-<\/strong><\/p>\n