Saudi Arabia is delaying the IPO of the Tadawul, the Kingdom's stock exchange, "on hopes that a potential MSCI Inc. upgrade could boost its value," according to Bloomberg which cited people with knowledge of the matter.
Rising optimism around global economic growth coupled with continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to near 2014 highs, according to a recent report on the oil market by Riyadh-based Jadwa Investment.
Saudi Arabia and SoftBank signed a MOU to build a $200 billion solar power project this week in New York, dwarfing all other projects and placing the Kingdom and its 3,000 hours of sunshine a year into a global leadership position in the renewable energy field.
The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports.
Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America's premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030.
The Saudi Press Agency on Monday tweeted a photo of a meeting between Crown Prince Mohammed bin Salman and Softbank CEO Masayoshi Son, saying they are "looking for a number of investment opportunities."
Crown Prince Mohammed bin Salman continued his active visit to the United States yesterday, attending a business meeting in New York with over 200 executives, and later meeting with the Secretary General of the United Nations, Antonio Guterres.
Two separate reports from Bloomberg confirm that Saudi officials are eying meetings with major banking houses and technology giants during the Crown Prince's nearly three-week long visit to the United States.