Saudi Arabia will lower government spending in 2020 as the Kingdom's economic and social reforms start to kick in. That could help reduce Saudi Arabia's medium-term fiscal vulnerabilities to lower oil prices, the Institute of International Finance (IIF) said.
In a bid to attract top talent and spark innovation in the Kingdom, Saudi Arabia has announced that it would grant full citizenship to "scientists, intellectuals, and innovators" from key sectors and focuses, according to reports.
Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight.
Saudi Aramco is seeking a valuation of up to $1.7 trillion, which would become the world's biggest IPO and confirm the company as the world's most valuable.
Saudi Aramco said on Wednesday it was joining the World Bank’s initiative to reduce gas flaring to zero by 2030, and said its flaring was already less than 1% of its total raw gas production in the first half of 2019, Reuters reports.
Saudi Aramco has delayed the planned launch of its initial public offering "in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm," Reuters reports, citing two sources familiar with the matter.
Saudi Arabia’s deputy defense minister said on Thursday he discussed "regional security and military cooperation" with senior U.S. government officials, Reuters reports.
