Headlines 

Saudis Replace Aramco Chair With Wealth Fund Boss Before IPO

Photographer: Stefan Wermuth/Bloomberg Saudi Arabia removed Energy Minister Khalid Al-Falih from his position as Chairman of Saudi Aramco, the second time his role has been scaled back in less than a week, as the government prepares to sell shares in the state-owned oil company. Al-Falih will be replaced by Yasir Al-Rumayyan, head of the sovereign wealth fund, according to a Tweet from Al-Falih’s account. The appointment of Al-Rumayyan, already an Aramco board member and a key adviser to powerful Crown Prince Mohammed Bin Salman, will seperate the Ministry of Energy…

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Odds and Ends 

Startups Weekly: SoftBanks second act

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups and venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I noted some challenges plaguing mental health tech startups. Before that, I wrote about Zoom and Superhuman’s PR disasters. Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets. If you don’t subscribe to Startups Weekly yet, you can do that here. accelerating its IPO plans and targeting a September listing. We don’t…

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Odds and Ends 

Angry Rex Tillerson Says Jared Kushner Hijacked U.S. Foreign Policy

Former Secretary of State Rex Tillerson claims the State Department was kept in the dark about key U.S. foreign-policy decisions during his time in the Trump administration because the presidents son-in-law had effectively set up his own shadow operation. Jared Kushner was privately working on strategic partnerships with foreign countries and meeting discreetly with world leaders outside the formal structures of the U.S. government, according to Tillerson, who told the House Foreign Affairs Committee behind closed doors last month that he was left angry by one situation in particular. Because…

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Family of Loujain al-Hathloul fight to free imprisoned Saudi activist

Relatives hope raising awareness in the US can help end detention of Hathloul who battled the ban on women driving When Lina al-Hathloul learned her sister, the Saudi activist Loujain al-Hathloul, had been whisked away by Saudi Arabian police in the middle of the night, she thought it was a joke. They came in with so many people, there were so many cars waiting outside, said Lina al-Hathloul, Loujains youngest sister who lives in Brussels, describing what her family told her at the time. It was so spectacular that we…

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Saudi-led forces renew push to take key Yemen port from Houthi rebels

Dozens of fighters believed killed in clashes in Hodeidah after breakdown of UN-led peace talks Saudi Arabia has responded to the entry point for 80% of the aid into the country. Aid agencies said local UN staff were reporting that the bombardment is the worst, by far, of any since the [Red Sea] campaign started in early June, and involves not only airstrikes and shelling but also bombardment from naval ships. Humanitarian staff on the ground reported an almost continuous presence of Saudi/UAE coalition aircraft over Hodeidah since Friday night.…

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US supplied bomb that killed 40 children on Yemen school bus

Eleven adults also died and 79 people were wounded from bomb that was made by Lockheed Martin and sold to Saudi Arabia The Yemen by a Saudi-led coalition warplane was sold to Riyadh by the US, according to reports based on analysis of the debris. The 9 August attack killed 40 boys aged from six to 11 who were being taken on a school trip. Eleven adults also died and local authorities said 79 people were wounded, 56 of them children. Bellingcat identified bomb fragments, on photographs and videos taken…

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Dozens dead in Yemen as bus carrying children hit by airstrike

Red Cross says strike hit bus at market in Dahyan in rebel-held north of country Dozens of civilians, mostly children, have been killed and more wounded in an airstrike by the US-backed, Saudi-led coalition in Yemen that hit a bus in the rebel-held north of the country. The International Committee of the Red Cross (ICRC), one of the few humanitarian institutions helping civilians on the ground in the war-torn country, said a hospital supported by the organisation had received dozens of casualties after the attack at a market in Dahyanin…

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Saudi Arabia Suspends Ties With Canada Over Activist Row

Saudi Arabia halted new trade and investment dealings with Canada and suspended diplomatic ties in a dramatic escalation of a dispute over the kingdom’s arrest of a women’s rights activist. The kingdom recalled its ambassador to Ottawa and ordered the Canadian envoy to Riyadh to leave within 24 hours, according to a foreign ministry Saudi Arabia is shifting, slowly: read more here. Representatives from Canada’s global affairs department weren’t immediately able to comment. Saudi investments in Canada include G3 Global Holdings Ltd., a joint venture between Bunge Ltd. and Saudi…

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Haley Defends U.S. Decision to Quit UN’s Human Rights Council

Ambassador Nikki Haley defended the U.S. decision to quit the United Nations Human Rights Council last month as a stand against “political corruption and moral bankruptcy” and the organization’s “anti-Israel bias.” “The United States provided the last shred of credibility that the council had, but that was precisely why we withdrew,” Haley said Wednesday at the Heritage Foundation in Washington. In June, Secretary of State Michael Pompeo and Haley announced the U.S. decision after the council passed a resolution denouncing Israeli settlements as a “flagrant violation” of human rights. In…

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World Cup 2018 power rankings: Brazil and Croatia lead the way

At the end of the group stage we rank the 32 teams at the World Cup in Russia, with Brazil top, England in 10th and Panama last 1) Brazil It is hard to shake the feeling that Brazil are the best-balanced side at this World Cup. win over Serbia and they look capable of raising things further. thumping win over Argentina. A meeting with Spain in the last eight looks likely and Zlatko Dalics side cannot be ruled out of doing something special. 3) Belgium Whether or not they really…

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Hedge-Fund Investors Pour Into Oil as Firms Predict Surge to $80

Hedge funds investing in oil are luring capital at the fastest pace in more than a year. With crude climbing to levels not seen since 2014, commodity funds have recovered the client outflows they suffered last year. And if firms such as Saudi Arabia, the world’s biggest exporter, wants to push prices to $80 a barrel to help pay for the government’s policy agenda. Declining output in Venezuela and falling global inventories are also playing their part, as are the worsening tensions in Syria, which threaten to disrupt supply from…

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OPEC, Russia Signal Global Oil Alliance May Endure Past 2018

OPEC and Russia reaffirmed that they’ll persevere with oil-production cuts until the end of the year to clear a global glut and signaled their readiness to cooperate beyond that. Russia is prepared to continue cooperating with OPEC and its de-facto leader Saudi Arabia even after the cuts expire, Energy Minister Alexander Novak said in a Bloomberg television interview held jointly with his Saudi counterpart. Producers should keep limits on output through 2018 as the market may re-balance at the end of the year or in 2019, Saudi Energy Minister Khalid…

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Headlines 

Saudi Arabia Arrests 11 Princes Protesting Over Bills, Report Says

Saudi authorities made a fresh round of arrests of royal-family members as a group of princes staged a palace protest in the capital over the non-payment of their electricity and water bills. Security services on Thursday arrested the 11 princes after they refused to leave Qasr Al-Hokm in Riyadh, Saudi Arabia’s Attorney General, Sheikh Saud Al Mojeb, said in an emailed statement. The princes, who objected to a decree that ordered the state to stop paying their utility bills, will be held at al-Ha’er prison pending their trial, Al Mojeb said. “No…

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