San Francisco-based Uber Technologies Inc. and Dubai-based Careem Networks FZ are in preliminary talks to combine their Middle Eastern ride-hailing services, according to reports, in a merger that would create one dominant presence in the market and avoid a potentially costly rivalry.
A recently released Jadwa Investment report lays out in detail Saudi Arabia's ambitious privatization plans as part of its Vision 2030 economic and social reform program and identifies opportunities and challenges for decision-makers.
A day before President Trump withdrew from the Iran nuclear deal, one of his senior officials phoned key ally Saudi Arabia to ask the world's largest oil exporter to help keep prices stable if the decision disrupted supply, Reuters reports.
Saudi Arabia's Ministry of Justice is planning to launch an alimony fund similar to the United Kingdom's Child Maintenance Service in an attempt to "empower mothers and provide sustainable living and support, for them and their children," the Ministry said in a press release.
Saudi Arabia is delaying the IPO of the Tadawul, the Kingdom's stock exchange, "on hopes that a potential MSCI Inc. upgrade could boost its value," according to Bloomberg which cited people with knowledge of the matter.
Saudi Arabia beat out regional rival Qatar's first bond issuance since the Gulf crisis began with its own "surprise" $11 billion raise, which drew $52 billion of orders this week, according to reports.
Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America's premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030.