Saudi Arabia's Public Investment Fund (PIF) has formed an advisory board of 11 top technology, finance and business executives that will provide strategic guidance on developing the kingdom's Future Investment Initiative as platform that attracts investment.
Even without a Saudi Aramco IPO, the Kingdom's Vision 2030 economic and social reform blueprint is having an undeniably positive effect on the Saudi economy and growth, the IMF said.
SAMA FX reserves rose by $1.8 billion month-on-month to stand at $506 billion in June, a recently released report by Jadwa Investment said, noting that FX reserves have risen by $10 billion during the year so far.
Global equity index compiler S&P Dow Jones Indices will upgrade Saudi Arabia’s bourse to emerging market status from a stand-alone market next year, becoming the latest in a series of index firms to promote Riyadh.
MIT Professional Education is launching a new collaboration with Al Yamamah University (YU) aimed at "promoting diversity at institutions of higher education and supporting the country’s overall development and sociocultural evolution," the prestigious university announced on its website.
Saudi Arabia, Kuwait and the United Arab Emirates will soon announce an "integrated program" to support Bahrain’s economic reforms and its fiscal stability, Reuters reports, citing a joint statement from the three Gulf states on Tuesday.
Saudi Minister of Energy Khalid Al-Falih said OPEC and other producers are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, according to reports.
