Oil prices continued to see increased volatility as traders attempt to understand how the Saudi-UAE chasm on production might affect supply in the coming months, according to reports.
Saudi Arabia's deputy defense minister and former ambassador to the United States Prince Khaled bin Salman on Tuesday became the highest-ranking Saudi envoy to visit Washington since Joe Biden became president in January, Reuters reports.
Saudi Arabia's leadership in the OPEC+ group of oil-producing nations "brought a kind of predictability and stability and caution to the market" as the global economy recovers from the pandemic in 2021, Pulitzer Prize-winning historian of the oil industry Daniel Yergin told Arab News.
Saudi Arabia's Public Investment Fund (PIF) has emerged as the lead investor in a planned $800 million Middle East infrastructure fund being established by Aberdeen Standard Investments and Investcorp, Bloomberg reports, citing a statement.
The operator of Saudi Arabia’s Red Sea Gateway Terminal (RGST) is looking to invest in ports in Africa and the Middle East, following backing from the Kingdom’s sovereign wealth fund (PIF), Bloomberg reports.
Saudi Arabia hopes to raise about $55 billion over the next four years with a revitalized privatization program, the country's finance minister Mohammed Al-Jadaan told the London-based Financial Times in an interview published over the weekend.
Saudi Arabia’s ultra-luxury Amaala tourism project may raise up to 10 billion riyals ($2.7 billion) in 2022, the CEO of the company, John Pagano said in an interview on the sidelines of Arabian Travel Market in Dubai.
The Biden administration is sending a team of senior officials to visit top regional allies in the Gulf including visits to Saudi Arabia, the UAE, Egypt, and Jordan, according to reports from several news outlets.
