Economy

TENDERS AND PROCUREMENT

Saudi Arabia approves new tendering and procurement law – report

The Riyadh metro under construction in 2017.
Saudi Arabia’s government has approved a law to improve the way it procures contracts and services "by saving money, making the process fairer, and boosting local bidders," Reuters reports, citing information from the Ministry of Finance.

PUBLIC INVESTMENT FUND

PIF Acquires Stake in Jasara Program Management Co., Agrees to $10b Loan Terms

mohammed-bin-salman-mbs2
Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Jasara Program Management Co., a joint venture between Saudi Aramco and Jacobs Engineering Group, three people familiar with the matter told Bloomberg.

latest headlines