A report in Bloomberg today said that Saudi Arabia is considering canceling more than $20 billion of projects in addition to making deep cuts to ministry budgets as the Kingdom takes austerity measures due to low oil prices.
Saudi Deputy Crown Prince, Minister of Defense and head of the influential Council of Economic and Development Affairs, HRH Mohammed bin Salman, plans to visit China August 29-31 and Japan August 31-September 3. He will then attend the Group of 20 Summit September 4-5 to be held in Hangzhou, China.
U.S. Secretary of State, John Kerry, will travel to Kenya, Nigeria and Saudi Arabia next week as part of a tour that is expected to focus on counter terrorism. Secretary Kerry is expected to be in Jeddah on Wednesday, August 24th.
JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI) has increased Saudi Arabia's standing to "Semi-Transparent" after recent efforts by the Chambers of Commerce in Saudi Arabia.
“He clearly expressed in detail a vision for the Saudi economic strategy, security strategy, and the reason why he sees the relationship with the United States important for the country,” Democratic Senator Ben Cardin said Tuesday after meeting Prince Mohammed. “He’s very impressive."