Saudi Aramco is not only the largest National Oil Company (NOC) in the world but also a primary driver for Saudi Arabia in its technological advancement and in the development of the Kingdom's human resources.
The development is the latest in recent weeks indicating a strengthening of U.S.-Saudi ties as the two countries coordinate security efforts to counter the Islamic State extremist group in Iraq and Syria.
Success for MNCs requires that they demonstrate a willingness to add value to the Saudi economy by tightening relationships with local partners, hiring more Saudi nationals, and considering capital investments, writes Matthew Spivack.
Bloomberg's Matthew Martin reports that veteran banker John Sfakianakis has been hired by UK-based Ashmore Group PLC to head expansion into the Kingdom ahead of Saudi Arabia's market opening.
The United States military lauded what it called "a great deal of professionalism and pride" brought by Arab states to the fight against IS as American trainers arrive in Saudi Arabia to assist in developing moderate Syrian rebel groups.
In an interview on the BBC News Hour, Saudi journalist Jamal Khashoggi addressed the latest developments in the joint U.S.-Arab military action against Islamic State positions in Iraq and Syria.
