President Donald Trump will host visiting Saudi Crown Prince Mohammed bin Salman in Washington on March 20 at the White House, Press Secretary Sarah Huckabee Sanders said Monday, noting that the president "looks forward to strengthening ties between the United States and Saudi Arabia.”
Saudi Arabia’s cabinet has approved a bankruptcy law that is likely to be a boost to the Kingdom's efforts to attract investment and provide protection for entrepreneurs, according to reports. King Salman has reportedly endorsed the new law.
Saudi Aramco officials began early talks with banks about a potential debt financing of up to $70 billion to back its acquisition of a majority stake in Saudi petrochemical firm Sabic, Reuters reports, citing banking sources.
Saudi Arabia is refuting a Reuters report yesterday that said the Kingdom was cancelling its planned IPO for Saudi Aramco, according to comments made by the Kingdom's minister of energy Khalid Al-Falih.
Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, Reuters reports, citing the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday.
U.S. government teams spent three days in Saudi Arabia discussing ways to cut off money flows to Iran without disrupting energy markets, Bloomberg reports, ahead of U.S. efforts to press nations to stop buying Iranian oil by Nov. 4.
Following years of effort by Saudi officials to increase transparency in its stock market, the Kingdom won inclusion into MSCI, Inc.'s highly sought-after emerging market index, expanding the asset class by as much as $600 billion for the Kingdom.