Saudi Aramco will list the first shares of the company on Saudi Arabia's stock exchange, the Tadawul, and will do so "very soon," the company's CEO Amin Nasser said.
The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports.
The International Monetary Fund (IMF) suggested that Saudi Arabia would see positive economic benefits by raising its Value Added Tax (VAT) to 10% after successfully implementing a 5% VAT last year.
A series of Royal Decrees issued by King Salman of Saudi Arabia on Friday included major shake ups to Saudi Aramco as well as government ministries and top leadership.
New rules put in place by Saudi government authorities have granted the right of all Saudi students studying oversees to travel without requiring a permit from their parents or guardians, even if they are under the age of 21, according to reports.
Saudi Arabia and Formula One are discussing the possibility of holding a race in the country, "and team bosses have been asked for an opinion," sources told Reuters on Tuesday.
Saudi airline Flyadeal has canceled an order for up to $6 billion worth of Boeing 737 Max planes, instead opting to purchase from Boeing's top European competitor, Airbus SE, according to reports.
Saudi Arabia has raised 3 billion euros from over 14.5 billion worth of orders for its first bond denominated in European currency, according to reports.
U.S. Special Representative for Iran Brian Hook met with Saudi Arabian Deputy Defense Minister Prince Khalid bin Salman in Jeddah on Friday, the minister said in a tweet.
Saudi Arabian flag-carrier Saudia announced at the Paris Airshow that is expanding its existing order of Airbus A320neo family of plans from the current number of 35 "to as many as 100, including 35 options," according to reports.
