Saudi Aramco has made first selections for financial partners in its rejuvenated attempt to file for an initial public offering (IPO), choosing Bermuda-based Lazard Ltd. and Moelis & Co. as advisors, people with knowledge of the matter told Bloomberg.
New rules put in place by Saudi government authorities have granted the right of all Saudi students studying oversees to travel without requiring a permit from their parents or guardians, even if they are under the age of 21, according to reports.
In its first-ever half-year earnings report, Saudi Aramco said the company had earned a net income of $46.9 billion in the first half of 2019, a 12 percent decrease from $53 billion in the period a year earlier, when oil prices were higher.
Saudi Arabia’s decision to allow women to travel independently is being hailed a historic leap for gender equality in the Kingdom as women celebrate their new rights and freedoms enacted under King Salman and Crown Prince Mohammed bin Salman.
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.
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.
A recent report issued by Jadwa Investment shows expected growth in the non-oil sector at 2.4 percent in 2019, compared to 1.7 percent in 2018, and forecasted 2020 non-oil sector growth at 2.7 percent.
As the Kingdom prepares to open itself up to more visitors and boost its tourism industry in line with Vision 2030, the SUSTG team is pleased to cite AramcoExpats.com and their series examining some of the most amazing places that Saudi Arabia has to offer.