The latest monthly edition of the Saudi Chartbook published by Jadwa Investment finds positive indicators for the Saudi economy as growth picks up in the Kingdom.
The $13.3 billion month-on-month increase in reserves to $498.9 billion in April is the highest level reached in over year and reveals "the extent to which a rebound in oil prices is strengthening the kingdom’s finances."
The price of oil reached $80 on the Brent Crude Index this week for the first time in three years, prompting Saudi Arabia's powerful Minister of Energy Khalid Al-Falih to tweet a message urging coordinated action to allay supply "anxiety," according to reports.
Ramadan officially begins in Saudi Arabia Thursday, as millions of Muslims in the Kingdom and around the world prepare for a month of fasting, which is intended to bring Muslims closer to Allah and remind them of those less fortunate.
97 percent of young Saudis consider Crown Prince Mohammed bin Salman a strong leader, and 90 percent say he will move the country in the right direction.
Four Saudi officers were shot dead and four others wounded Thursday when their checkpoint came under gunfire in southern Asir province, according to reports citing information from the Saudi Press Agency and Saudi Arabia's interior ministry.
Saudi Arabia is set to have a soft opening for a new movie theatre tomorrow in what is the beginning of a new era of cinema in the Kingdom, some three decades after the last theatre was shuttered.
The State Department approved a sale of $1.31 billion in artillery to Saudi Arabia, giving "a vote of confidence to the Saudi military as young Crown Prince Mohammed bin Salman concludes a marathon tour of the United States," the Washington Post reports.
The Saudi Press Agency on Monday tweeted a photo of a meeting between Crown Prince Mohammed bin Salman and Softbank CEO Masayoshi Son, saying they are "looking for a number of investment opportunities."
