Saudi energy minister says Aramco IPO still on, refutes media reports indicating otherwise

Saudi Energy Minister Khalid Al-Falih. (AN file photo)
Updated 23 August 2018
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Saudi energy minister says Aramco IPO still on, refutes media reports indicating otherwise

JEDDAH: In response to recent media reports about the IPO of Saudi Aramco, H.E. Khalid Al Falih, Minister of Energy, Industry and Mineral Resources and Chairman of Saudi Aramco issued the following statement dismissing speculation surrounding the cancellation of the IPO as not true.

“The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum. This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition which the Company will pursue in the next few months, as directed by its Board of Directors.

To prepare for the listing of Saudi Aramco, the Government has undertaken a number of major preparatory measures including issuing a new income tax law as it relates to hydrocarbons activities; reissuing a long-term exclusive concession; and appointing a new Board of Directors, amongst other measures to safeguard its interests and those of the company’s future private shareholders.

The company, for its part, has completed its internal program for IPO preparedness. Specifically, it has amended its bylaws; converted to a joint stock company; ensured that its internal segmental financial reporting aligns with potential listing venue requirements; established an investor relations function; and undertaken the first independent certification of its hydrocarbon reserves, all confirming the company’s peerless status in the industry. This is all positive progress on what is a complex process, preparing the company and the Kingdom for what will ultimately be a global landmark market offering of unprecedented quality and scale.”


Joy Awards 2026 spotlights arts in the Arab world

Updated 18 January 2026
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Joy Awards 2026 spotlights arts in the Arab world

RIYADH: Riyadh hosted its annual Joy Awards, bringing together stars and creative projects from across the Arab world as part of an event that has been held annually since 2022. The 2026 ceremony continued its focus on recognizing storytelling and creative work, while highlighting projects released over the past year.
As audiences anticipated the winners following the release of the nominees, awards were presented across six sectors; music, cinema, series, directors, sports and influencers. In addition to category awards, the ceremony also honored recipients of special accolades including Personality of the Year, Lifetime Achievement, and Joy Honorary awards.
Previous events have recognized Arab and international figures for their contributions to the arts, including Matthew McConaughey, who received the Personality of the Year Award in 2025.
Amid the Kingdom’s expansion of its entertainment sector — spanning film, music and sports — the Joy Awards reflected Riyadh Season’s role in hosting large-scale cultural events.
This year’s fan-favorite nominees, many of whom were Saudi nationals, were cheered on as they walked the Joy Awards’ iconic lavender carpet, where fashion once again took center stage as a key expression of the region’s evolving creative identity.
Among winners who took home the Joy Awards was Saudi 14 year old Rateel Alshehri, who won Favorite Female Influencer. Speaking to Arab News on the lavender carpet, Rateel shared her excitement towards Joy Awards:
“I’m so excited about being at Joy Awards today, it’s something I’ve been looking forward to (…) Everyone here deserves to be here.” On her beautiful sky-blue gown, Rateel shared that she was wearing Saudi designer, Adnan Akbar.
Rateel’s excitement towards the awards was echoed by both Arab and non-Arab guests on the lavender carpet as many took in the unique atmosphere that Riyadh offers Joy Awards; where Arab entertainment and art is celebrated.
Lebanese actress Laila Abdullah also shared her enthusiasm towards both the award show and the Kingdom’s ambitions in hosting the Joy Awards and creating a hub for creative voices.
Speaking to Arab News she emphasized Saudi’s unique qualities: “It’s this mix of culture and luxury (…) It has that Gulf Arab character, the Saudi touch, you know? And that’s what really makes it stand out” Joy Awards was filled with a bustling energy that was eager and excited to give a platform to dreamers, artists, and talents who have been waiting to showcase their visions within the Arab world. It was a celebration that went beyond mere award-giving, reflecting the same ambition and creative momentum that defines Riyadh Season.
The lavender carpet paved way for international guests to speak to Saudi media on how it feels to be a part of an artistic celebration of Arab talent. Speaking to Arab News, Australian actor Luke Arnold shared his excitement towards attending the Joy Awards: “What I’m most excited about is kind of what I love about film and television, which is people from all over the world coming together to tell stories and share their expertise (…) It’s really exciting hearing about some of the potential projects happening, meeting some of the local talent here…just really excited to have more stories out in the world.”
Speaking to Arab News, Lebanese fashion influencer Karen Wazen reiterated the sentiment on Riyadh giving Joy Awards a special and unique energy for the arts, saying: “I am so impressed, I’m so proud to be at an event like this in our region, in Saudi Arabia. This is probably the most impressive and big carpet that I’ve ever seen (…) I’m very excited to watch the ceremony, but also I think to just meet so many people from our industries, it’s a beautiful place to do so.”
That vibrant atmosphere was on full display at the Joy Awards as the ceremony continued with stars like Millie Bobby Brown winning the Personality of the Year Award and the Lifetime Achievement Honor presented to acting legend Forest Whitaker. The stardom was not limited to the film sector, as American pop star Katy Perry performed her iconic songs live; and British singer Robbie Williams took to stage to give a standout performance.
The Joy Awards 2026 once again proved that setting new benchmarks in entertainment and creative expression is not only achievable, but celebrated when driven by local talent and support. As stars from around the world took to Riyadh’s lavender carpet, Arab culture was placed firmly at the forefront — spanning film, music, and digital creativity. The Joy Awards stand as a symbol of the broader cultural transformation that Riyadh is championing across the Arab world’s entertainment industry.