UK Officials Told That Aramco IPO Unlikely Until 2019: FT

Pic Getty Images

Pic Getty Images

But the nation's energy minister suggested in an interview that the offering could be shelved until next year, according to Bloomberg.

If Saudi Arabia opted to list shares of the company overseas, officials that spoke with FT said they expected a domestic and foreign listing to occur at roughly the same time, potentially in the first half of next year, the paper said.

Numerous 381 suspects, including princes, ministers and tycoons, remain under military surveillance and some have been forced to wear ankle bracelets that track their movements, the newspaper said.

Prince Mohammed has wanted to list the company in NY as well, although Saudi officials have expressed concern about scrutiny from US regulators.

More than 200 businessmen, princes and government officials were detained in November and imprisoned at the luxury hotel in Riyadh in what the Saudi government said was an anti-corruption drive.

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He later died in custody, his corpse bearing signs of torture, according to witnesses quoted by the newspaper.

Some critics labelled the campaign a shakedown and power grab, but authorities insist the purge targeted endemic corruption as the country prepares for a post-oil era.

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, has approved the creation of specialized departments in the Public Prosecutor's Office to investigate and prosecute cases of corruption.

During his visit to Egypt, Crown Prince Mohammed became the first Saudi official to visit the spiritual center of Egypt's Orthodox Christian community when he met with Coptic Pope Tawadros II at St. Mark's Cathedral.

Local and foreign experts will take part in several sessions and workshops on the protection of integrity and fighting corruption in privatization programs.

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