Saudi leaders have long talked about the benefit of a developed renewable energy industry in the Kingdom, but a perfect storm of international and domestic forces is providing officials with a golden opportunity to embrace alternative energy.
Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a 5-10% stake in Endeavor, the holding company for Hollywood talent agency William Morris Endeavor (WME), for $500 million, according to reports.
Saudi Arabia is taking managerial control of Saudi Binladin Group (SBG) and discussing a possible transfer of some of the giant construction group's assets to the state while its chairman and other family members are in detention, Reuters reports today citing sources.
Saudi Arabia announced that it will lower the required minimum assets under management for qualified foreign institutions starting this month, according to Bloomberg and a statement by the Saudi Capital Markets Authority (CMA).
The Saudi Citizen Account Program – which provides economic support to nationals – has handled 144,965 documents proving applicants eligibility for payments since its launch in February 2017, according to the SPA and Arab News.