Khalid A. Al-Falih, Saudi Arabia's energy minister and chairman of the board of directors at Saudi Aramco. Photo: Gavriil Grigorov/TASS/Getty Images

Saudi Aramco announced an agreement in principle to buy a 20% stake in the oil-to-chemicals business of India’s Reliance Industries. The deal values the unit at $75 billion, including debt.

Why it matters: It's one of the largest-ever foreign investments in India, per a Reliance statement, and comes on the same day that Saudi Aramco held its first-ever earnings call.

  • Caveat: During that earnings call, an Aramco finance executive called it a preliminary agreement that's in the "very, very early stages."

The bottom line: "Aramco has signaled it is trying to become more like Exxon Mobil Corp. or Chevron Corp., which refine as much oil as they produce. This would help the company secure more buyers for what it produces, help cushion against low oil prices and provide the potential to make more profit on refined products such as gasoline and petroleum-based chemicals," write the Wall Street Journal's Sarah McFarlane and Corinne Abrams.

Go deeper: Less than a year after Khashoggi murder, business booms for Saudi Arabia

Go deeper

Louisville police declare state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

The Louisville police chief declared in a memo obtained by news outlets a "state of emergency" for the department on Monday to prepare for Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 31,1833,800 — Total deaths: 962,793— Total recoveries: 21,348,410Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 6,833,800 — Total deaths: 199,818 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

Sen. Cory Gardner on vacant Supreme Court seat: "I will vote to confirm"

Photo: Alex Wong/Getty Images

Sen. Cory Gardner (R-Colo.) will vote to confirm President Trump's nominee to replace the late Ruth Bader Ginsburg, he announced in a statement Monday.

Why it matters: The development is a win for President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). It should mean Republicans are all but assured to have enough support to hold hearings for Trump's potential nominee.

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