The Organization of the Petroleum Exporting Countries (OPEC) agreed on Friday on a modest increase in oil production from July, Reuters reports, after its de-facto leader Saudi Arabia "persuaded arch-rival Iran to cooperate."
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.
Saudi Arabia and Russia will jointly invest $2 billion in technology projects next year, according to reports, following the visit of Crown Prince Mohammed bin Salman to Russia at the start of the World Cup last week.
Telfaz11, with over 20 million subscribers on their network, and reporting more than 2 billion views on YouTube, is a leading Arabic Multi-Channel Network (MCN) which seeks to change the face of home-grown online entertainment.
Saudi Arabia's Public Investment Fund-backed mortgage company, the Saudi Real Estate Refinance Company (SRC), plans to roll out new funding soon to the Kingdom’s lenders to boost home ownership in Saudi Arabia, according to a report.
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.
The $13.3 billion month-on-month increase in reserves to $498.9 billion in April is the highest level reached in over year and reveals "the extent to which a rebound in oil prices is strengthening the kingdom’s finances."
The one time leader in Saudi Arabia's construction market, Saudi Binladin Group, will be slimmed down and renamed, according to an exclusive Reuters report, which cited six sources familiar with the matter.