Saudi Aramco has invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp (SABIC), two sources with direct knowledge of the matter told Reuters.
ACWA Power says it will begin construction this year on a 100MW solar energy plant in South Africa as Saudi Arabia and the UAE announced that the two countries will invest a combined $20 billion into the country, according to reports.
The program supports the Kingdom’s Vision 2030 goal to increase women’s participation in the workforce, and is done in cooperation with Al Khaleej Training and Education.
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's ambassador to the United States HRH Prince Khaled bin Salman has issued a statement on Twitter concerning the recent moves by the Kingdom and its Arab allies on the port city of Hodaidah in Yemen, blasting the Iran-backed Houthi rebels.
New tax earnings for Saudi Arabia's government were offset by expenditures toward programs comprising the Kingdom's safety net for lower income citizens, according to a Bloomberg report which cited Ministry of Finance figures.
