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Saudi Arabia could sell more of its crown jewel
China is the most likely buyer
Saudi Arabia is considering selling part of its giant state oil company to a major foreign investor, likely from China.
The kingdom s crown prince, Mohammed bin Salman, confirmed the possible sale of a 1% stake in the world s biggest oil company on Tuesday. The stake would be worth about $19 billion based on Aramco s market value. There is a discussion now about the acquisition of 1% of Aramco by a global leader in the energy field, bin Salman, the de facto leader of Saudi Arabia, said in a rare televised interview broadcast on Saudi state media. It will be a very important deal to boost Aramco sales in a very large country, he added.
April 26, 2021
On April 21, when Max Healthcare went to Delhi high court with an urgent plea to get oxygen supply for its hospitals that had almost exhausted their reserves, the judge snubbed the Narendra Modi government saying, “Ask Mr Tata. He’ll be willing to help.”
About a week since then, even as the country’s government has pretty much failed to find concrete solutions, the 150-year-old Tata Group is not the only corporation stepping forward to help. From diverting oxygen from their factories to helping mobilise the supply of oxygen concentrators or simply providing medical support to their staff, many big and small companies in India have come forward to help those affected by the ferocious second wave of Covid-19.
At least 2,812 people died which pushed the total death toll to over 195,000 media reports suggest that the official death rate is likely undercounted.
Prime Minister Narendra Modi s government has faced criticism for allowing large crowds to gather for religious festivals and election rallies in various parts of the country this year. Prior to the second wave, India had on average around 10,000 new cases daily.
But so far in April alone, the South Asian nation has reported more than 5 million new cases, sending the country s health care system to the brink.
Hospitals have run out of beds and are turning away even critically ill patients. There is a severe oxygen supply shortage, partly due to uneven distribution across states. That has led to the deaths of many COVID-19 patients as the government scrambles to send supplies to the worst-hit states by road, rail and air.