Saudi Arabia reduced its budget deficit by 60 percent to SR49 billion ($13 billion) in the first nine months of the year, official figures published Wednesday show.
Crown Prince Mohammed bin Salman took the stage yesterday at the Future Investment Initiative conference in Riyadh, making his first public comments since the murder of Saudi journalist Jamal Khashoggi in Istanbul grabbed the world's attention.
Despite sanctions against Iran and tensions between Riyadh and Washington over the disappearance of Saudi journalist Jamal Khashoggi, the price of oil has fallen 11% in two weeks on oversupply and other downward pressures, according to reports.
A report today in Reuters highlights the impact that Saudi Arabia's Vision 2030 economic and social reforms are having on Saudi Arabia’s malls and bazaars - which are changing as retailers embrace a shift in shopping habits.
Saudi Arabia's ambitious and sprawling Riyadh metro project is 75% completed, Riyadh Emir Prince Faisal Bin Bandar said after chairing the Arriyadh Development Authority meeting on Monday.
Saudi Arabia’s sovereign wealth fund has chosen Goldman Sachs, Bank of America Merrill Lynch and Michael Klein as advisers on its planned sale of a stake in petrochemicals firm SABIC to Saudi Aramco, sources familiar with the process told Reuters.
Saudi Arabia has announced that it has contributed $100 million for Global Coalition to Defeat ISIS-supported stabilization projects in areas liberated from ISIS in northeast Syria, the largest Coalition contribution to date for these liberated areas.
A new Public Investment Fund (PIF)-backed “city within a city” is being planned for North Riyadh, according to a report in the English-language daily Arab News.
Saudi Arabia plans to form "a higher committee for hydrocarbons," which will fall under the leadership of Crown Prince Mohammed bin Salman, according to the state-run Saudi Press Agency.
