Saudi Aramco Said to Order HQ Evacuation, Oil Prices Set for Weekly Gain

Saudi Aramco is reported to have instructed employees to leave its Dhahran headquarters and work from home as fighting with the Houthis continues. Saudi Arabia reports intercepting drones and missiles, while oil heads for a weekly gain. Middle Eastern oil flows approach prewar levels, even as Trump raises the prospect of further action against Iran. The kingdom is also seeking overseas storage for Aramco to strengthen its ability to supply customers during disruptions. The global technology selloff gathers pace as investors retreat from the AI trade. South Korea’s Kospi falls, the valuation gap between Chinese technology companies and their US counterparts widens, and concerns over AI, the Middle East and France draw money toward safer assets. SK Hynix drops plans for a Solidigm IPO after reassessing market conditions and the interests of existing shareholders. Blackstone President and COO Jonathan Gray describes rapidly accelerating AI demand. Ten Cap founder Jun Bei Liu tells Horizons that the selloff offers more attractive entry prices, but expects a recovery to favor a narrower group of companies. She remains positive on equities while watching for sharper interest-rate increases, inflation pressures and disappointing earnings. Governments and businesses race to address a widespread cybersecurity weakness. In an earlier exclusive Bloomberg interview, OpenAI’s Greg Brockman discusses AI agents and digital security, including the two months of manual work involved in responding to vulnerabilities in PHP. Anticipation of Grand Theft Auto VI boosts Sony’s PlayStation 5 sales, according to Circana. The Wall Street Journal reports that Trump asked Elon Musk to remove restrictions on the military-grade Starlink service used by Ukraine. Separately, leaked cancer-vaccine trial data from Moderna and Merck disappoint investors. Jihad Azour, the IMF’s Middle East and Central Asia Director, joins Horizons to discuss the October 2026 regional outlook and reduced growth projections for the Middle East, North Africa, Afghanistan and Pakistan. He says the war’s effects on oil and gas remain manageable globally and regionally, credits Oman’s neutrality with lowering its risk premium, and highlights Iraq’s exposure through its dependence on oil and Hormuz. Emirates NBD seeks a loan of up to $1 billion from Asian lenders. Aliko Dangote sets out more than $35 billion of African projects within a wider $50 billion investment programme. The plans include $14.3 billion to expand the Lagos refinery, $16 billion for a refinery in Lamu, $1.5 billion for a Kenyan pipeline and $3.5 billion for a South African pipeline. Nigeria’s unreliable electricity grid is pushing households to generate their own power. Lower-priced Chinese solar panels are attracting more buyers and driving sales growth, although the upfront expense still prevents many families from making the switch. Guests includes Jun Bei Liu, Ten Cap Founder and Jihad Azour, IMF Middle East & Central Asia Department Director. Chapters: 00:00:00 - Introduction 00:04:36 - Global Tech Selloff Deepens 00:08:05 - Jun Bei Liu, Ten Cap Founder 00:18:39 - Greg Brockman, OpenAI Foundation Co-Founder & President 00:27:12 - Jihad Azour, IMF Middle East & Central Asia Department Director 00:37:30 - Dangote Maps Out Part of $50B Investment Spree 00:42:08 - Cheap Solar Panels Power Change in Nigeria -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts