BREAKING NEWS – Yemen Resistance hits Saudi Aramco with missile


SHAFAQNA – Yemen Resistance movement reportedly fired several missiles inside Saudi Arabia – targeting a series of infrastructures in retaliation to the devastation, and many grave war crimes the kingdom has conducted against the Yemeni nation since March 2015.

For the past weeks Yemen Resistance fighters have broken into Saudi Arabia southern provinces of Najran, and Asir, bringing war back to the kingdom. Despite its limited military capacity, the Yemeni Resistance has managed to gain control over several outposts – putting Saudi Arabia to shame.

For all its billions of dollars and the support of several military super-powers Saudi Arabia has proven to be a poor strategist, while Yemenis have asserted themselves as fierce warriors.

There are many lessons to be learned from the right of people to resist oppression, and stand where most would have surrendered.

The Resistance movement headed by the Houthis has confirmed that it led an attack against Aramco facilities just day after US Secretary of State John Kerry met with Saudi Arabia’s King to discuss the conflict in Yemen.

The US has backed the Saudi-led coalition with arms sales worth billions of dollars and with logistic and intelligence support.

Aramco, as the Saudi Arabian Oil Co is known, is the world’s most valuable company, according to Bloomberg, and is worth more than US$2 trillion. The Saudi government is planning to sell 5 percent in Aramco in an initial public offering (IPO) in 2017 and reap US$100 billion from the sale.

Last week, Saudi Arabia’s Capital Market Authority (CMA) issued new rules allowing foreign investors to buy shares directly in IPOs. The new regulations are expected to take effect on January 1, 2017, and will allow foreign investors to bid in the book-building process. Prior to this new rule, non-Saudi institutions could purchase IPOs only on a case-by-case basis, although they could make indirect purchases such as using local IPO funds.

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