A personal call between President Donald Trump and King Salman Saudi Arabia helped to finalize an agreement in which the Kingdom will buy Lockheed Martin’s $15 billion THAAD missile defense system, according to reports.
In an interview with Bloomberg, Saudi Aramco's CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects.
A recently released macroeconomic update by Jadwa Investment finds the fundamentals of the Saudi economy remain unaltered and the bank "expects solid growth in the next few years" by 2.2 percent in 2018 (compared to -0.9 percent in 2017).
Saudi Arabia has adjusted some targets within its five-year National Transformation Plan (NTP), making changes to metrics on the official document that can be found on the Kingdom's Vision 2030 website.
Despite sanctions against Iran and tensions between Riyadh and Washington over the disappearance of Saudi journalist Jamal Khashoggi, the price of oil has fallen 11% in two weeks on oversupply and other downward pressures, according to reports.