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However, Saudi officials mounted a business-as-usual campaign at the conference, and many of the big Western banks whose top executives boycotted the event sent sizeable teams of lower-ranking executives to Riyadh. The teams met Saudi officials on the sidelines of the conference, bankers said. Few senior executives from China and Japan announced they were withdrawing from the event, putting pressure on the Western firms to maintain a presence or risk losing business. A senior European banker at the conference said that while the Saudi image among some international bond investors had been damaged, investment patterns would probably return to normal in a couple months. “Business has a short memory,” he said.
Although many European countries have voiced concern over the Khashoggi case, they are wary of taking further action because they do not want to jeopardize billions of dollars in defense contracts with Saudi Arabia, several diplomats in the Gulf told Reuters, designer cufflinks on sale Germany is so far alone in halting arms sales to the world’s largest oil exporter, Other European countries have largely limited their reaction to calling for those responsible to be held accountable, Britain said on Wednesday it was joining the United States in revoking visas of people said to be involved..
State oil firm Saudi Aramco said it had signed deals with 15 international partners worth more than $34 billion at the conference. The firms included U.S. oil field services giants Schlumberger, Halliburton (HAL.N) and Baker Hughes (BHGE.N). There were also deals to bring foreign investment and technology into Saudi Arabia’s education, health care and housing construction industries. Some of the deals were memorandums of understanding which may never progress to the stage of firm contracts, and other deals had already been planned for months, so there was a strong element of public relations in the $56 billion total.
Nevertheless, Economy Minister Mohammed al-Tuwaijri told the conference that the government had received many expressions of interest from Asian and European companies in buying Saudi state assets, An ambitious privatization program was announced two years ago but there have been very few actual deals since then, Tuwaijri said on Thursday, however, that the program would proceed in the next few months now that designer cufflinks on sale legal and regulatory problems had been resolved, “From now until the first quarter of 2019 we have four opportunities in silos and grains,” he said, adding that deals in the education, healthcare and water desalinisation sectors would also be offered in this period..
(Reuters) - Defense contractor Raytheon Co (RTN.N) beat analysts’ estimates for third-quarter profit on Thursday and raised its full-year forecast, helped by sales of Patriot missile defense systems and cybersecurity services. Raytheon and other U.S. weapons makers are expected to gain from higher defense spending under U.S. President Donald Trump’s administration and stronger global demand for fighter jets and missiles. Chief Financial Officer Toby O’Brien told Reuters in an interview on Thursday that 2019 sales are expected to grow by 6 percent to 8 percent. Wall Street analysts are expecting 6 percent, according to Refinitiv data.
Still, shares fell modestly in morning trading after the company said 2019 profit margins would be similar to 2018, During the third quarter, O’Brien told Reuters the company had a negative 0.8 percent tax rate because of one-time research and development credits and planned pension fund contributions, He designer cufflinks on sale said the tax rate for the year would be about 10.5 percent, with next year’s tax rate in the range of 17 percent to 19 percent, During an earnings conference call with analysts, O’Brien said Raytheon could look at “options” for its commercial cybersecurity unit, Forcepoint, The unit has struggled to be profitable..
“All options are out there that we will consider at the right time,” O’Brien told Wall Street analysts. In August, Jefferies analyst Sheila Kahyaoglu wrote that a potential spinoff of the Forcepoint unit could be valued at $3.6 billion. Sales at Raytheon’s missile systems unit, its biggest by revenue, rose 7 percent to $2.08 billion in the third quarter. However, operating margin for the unit — which makes weapons including medium-range air-to-air missiles, Paveway laser-guided bombs and SM-3 anti-ballistic missiles — fell by 2.1 percentage points to 12.3 percent.
Sales at the company’s intelligence, information and services business, its designer cufflinks on sale second biggest, rose 13 percent to $1.74 billion, boosted by higher revenue from various programs, including DOMino, which provides cybersecurity support to the U.S Department of Homeland Security, Operating margin for the unit increased by 1.3 percentage point to 8.6 percent, O’Brien told analysts Saudi Arabia accounted for 5 percent of revenue so far this year, Next year, Saudi business was expected to remain similar, including the expected award for TPY-2 radars for the new Saudi THAAD missile defense system..