Saudi Arabia's Sabic Is Said to Explore IPO of Its Gas Business
Saudi Arabian chemicals giant Sabic is exploring an initial public offering of its gas business, according to people familiar with the matter, amid a broader operational review.
Saudi Basic Industries Corp. is in early-stage talks with potential advisers — including Lazard Inc., HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley — about a possible listing as soon as this year, the people said, asking not to be identified because the information is private.
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an hour ago
- Yahoo
Opinion - Does Trump see an off-ramp for Iran's leaders and a historic tipping point?
President Trump has come to possibly one of the most historic tipping points of our time — a tipping point he may have accelerated. A tipping point which, if things continue in this direction, might recalibrate the Middle East for the better for decades to come. The question then becomes: How best to increase the positive momentum? One of the main reasons I believe Trump has been a successful and transformative president is because he brought decades of real-world business experience into the Oval Office for the first time in decades. Love them or not, Joe Biden was a 50-plus-years career politician; Barack Obama was a little-experienced local Chicago politician; George W. Bush was a 'nepo' politician who rode the coattails of his father; Bill Clinton was an academic and career politician; George H.W. Bush was a courageous war hero who then fell into a career of politics and diplomacy; Ronald Reagan was an actor and two-term governor of California; and so on and so on. All these presidents were still creatures of politics and beholden to their particular party. Aside from being the first president in our lifetimes to bring decades of real-world business experience into the White House, Trump gleefully and very publicly cut the special interests' umbilical cords which connected so many presidents to the entrenched elites in D.C. Hence the creation of the 'Never Trump' movement and now a decade of 'Trump Derangement Syndrome.' Trump does believe in 'America First.' To make that expression a reality, he is willing to break with the entrenched elites, outrage the legacy media, ignore academics who never worked in the real world, defy the 'globalist' leaders of other nations and, sometimes, challenge the thinking and perceptions of the MAGA movement. We are witnessing all those Trump tactics with regard to the latest Israel-Iran conflict. In the business world, you are often faced with 'buy,' 'sell' or 'sit this one out' opportunities. While building his global business empire, Trump has engaged in such negotiations thousands of times. More often than not, he acted upon instincts honed by decades of success. Many MAGA supporters — and quite possibly Trump himself — initially viewed the current Israel-Iran war as a 'sit this one out' situation. But Israel's attack on Iran's nuclear weapons facilities may have created an unplanned tipping point for Trump towards much greater peace and stability in the region, while strengthening the national security of the U.S. Going back to before to his first presidential campaign in 2015, Trump had long condemned the Iraq war, the tragic loss of life and the neocons and hawks who incessantly called for that invasion. We saw that same conviction from Trump when it came to the war in Ukraine. He wanted peace and was desperate to stop the useless slaughter of hundreds of thousands of human beings. During his decades of being a master business negotiator, Trump also knew that it was wise — and was often the key tactic — to offer the CEO and upper management of the company he was dealing with a face-saving off ramp. Trump may now sense that the leadership of Iran is desperate for such an off ramp. There is no doubt that Trump believes Iran to be a rogue state directly responsible for the killing and maiming of thousands of American soldiers; of controlling the most ruthless and dangerous terrorist organizations in the world; of openly calling for the annihilation of America; and which is directly destabilizing the Middle East, while causing the deaths and suffering of literally millions of people in the region. But that is the truth of the present and the past. What if one were presented with the rarest of opportunities — to affect the truth of the future? What if, via the actions of others, certain policies and happenstance, you were gifted a window to rid the world of a truly evil entity capable of killing millions? But it was a window quickly and maybe permanently slamming shut. No president in our lifetimes has pushed to keep Americans out of harm's way or for global peace more than Trump. He owes no one an apology nor an explanation. Trump does want peace — but knows peace and freedom come at a cost. In his first term, he saw the window to eliminate ISIS and jumped through it to crush the vilest terrorist organization the world has ever known. With regard to Iran, Trump ordered the elimination of Gen. Qassem Soleimani, a man directly responsible for the killing and maiming of countless American troops. Businessman Trump has operated with the 'carrot and stick' method his entire adult life. Usually while flying by the seat of his pants. Trump created the 'America First' movement. Now, his instincts may be telling him he has a fleeting sliver of time to create an 'Iran First' movement for the long-suffering people of that nation — a people yearning to live in peace, who hate those who have turned their nation into a murderous theocracy. Iranians are poised to act, but they need a tipping point to give them cover not to be slaughtered in the streets if they rise as one to reclaim their country. Trump may be about to give them that tipping point. Douglas MacKinnon is a former White House and Pentagon official. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
an hour ago
- Yahoo
Dow Jones Futures: Tesla Robotaxi Launch Due; Four Stocks In Buy Zones
The market rally held in a range this past week, amid Israel-Iran news. The Tesla robotaxi launch is set for Sunday.
Yahoo
2 hours ago
- Yahoo
Dollar and Gold Retreat on Reduced Middle East Tensions
The dollar index (DXY00) Friday fell by -0.21%. The dollar came under pressure Friday on an easing of safe-haven demand after Reuters reported that the Iranian government said it is ready to discuss limitations on its uranium enrichment levels. Also, President Trump said he is willing to give diplomacy more time and won't decide to strike Iran for another two weeks. In addition, dovish comments Friday from Fed Governor Waller weighed on the dollar when he said, "I think we have room to bring interest rates down as early as July, and then we can see kind of see what happens with inflation." The dollar remained lower on the weaker-than-expected Philadelphia Fed business outlook report. Dollar and Gold Slide on Hopes of De-Escalation in Israel-Iran Conflict Dollar and Gold Retreat on Reduced Middle East Tensions Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! The US June Philadelphia Fed business outlook survey was unchanged at -4.0, weaker than expectations of an increase to -1.5. US May leading economic indicators index fell -0.1% m/m, right on expectations, and the sixth consecutive month that the LEI has declined. The markets are discounting the chances at 15% for a -25 bp rate cut after the July 29-30 FOMC meeting. EUR/USD (^EURUSD) Friday rose by +0.30%. The euro moved higher on Friday due to weakness in the dollar. However, gains in the euro were limited after the Eurozone's June consumer confidence index unexpectedly fell and after German May producer prices posted their biggest decline in eight months, which were dovish factors for ECB policy. The Eurozone June consumer confidence index unexpectedly fell -0.1 to -15.3, weaker than expectations of an increase to -14.9. German May PPI fell -1.2% y/y, right on expectations and the biggest decline in 8 months. Swaps are discounting the chances at 7% for a -25 bp rate cut by the ECB at the July 24 policy meeting. USD/JPY (^USDJPY) Friday rose by +0.38%. The yen gave up overnight gains and fell to a 3-week low against the dollar Friday as an easing of Middle East tensions curbed safe-haven demand for the yen. Reuters reported that the Iranian government said it is ready to discuss limitations on its uranium enrichment levels, and President Trump said he's willing to wait two weeks to see if diplomacy will work before attacking Iran. The yen initially moved higher Friday after Japan's May national CPI excluding fresh food and energy rose more than expected by the most in 16 months, a hawkish factor for BOJ policy. Also, comments from BOJ Governor Ueda were positive for the yen when he said the BOJ will raise the benchmark interest rate if its economic outlook is realized. Japan's May national CPI rose +3.5% y/y, right on expectations. May national CPI ex-fresh food and energy rose +3.3% y/y, stronger than expectations of +3.2% y/y and the largest increase in 16 months. BOJ Governor Ueda said Japan's real interest rate is significantly low, and the BOJ will raise the benchmark interest rate if its economic outlook is realized. August gold (GCQ25) Friday closed down -22.40 (-0.66%), and July silver (SIN25) closed down -0.896 (-2.43%). Precious metals retreated on Friday, with gold sliding to a one-week low and silver falling sharply to a two-week low. An easing of Middle East tensions sparked long liquidation in precious metals after President Trump signaled he wants to give diplomacy a chance and will wait two weeks before deciding if the US would strike Iran. Precious metals also fell on Friday's report from Reuters that said the Iranian government is ready to discuss limitations on its uranium enrichment levels, a sign that Iran may want to negotiate its way out of war with the US. In addition, hawkish comments from BOJ Governor Ueda undercut precious metals when he said the BOJ will raise the benchmark interest rate if its economic outlook is realized. Friday's dollar weakness was supportive of metals prices. Also, dovish comments Friday from Fed Governor Waller boosted demand for gold as a store of value when he said, "I think we have room to bring interest rates down as early as July." In addition, Thursday's report from Bloomberg that said senior US officials are preparing for a possible strike on Iran boosted safe-haven demand for precious metals. Industrial metals demand concerns weighed on silver prices on Friday due to the weaker-than-expected US Jun Philadelphia Fed business outlook survey and the weaker-than-expected UK May retail sales report. However, fund buying of silver continues to support prices as silver holdings in ETFs rose to a 2-1/4 year high Thursday. UK May retail sales ex-auto fuel fell -2.8% m/m, weaker than expectations of -0.7% m/m and the biggest decline in nearly 1-1/2 years. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
