In a statement the office of Turkish President Tayyip Erdogan said, the President will travel to Saudi Arabia on a two-day visit on Thursday. The development marks the culmination of a months-long effort by Ankara to mend ties with Riyadh…. Read More ›
On Tuesday, for the first time Saudi Arabia celebrated its founding day nearly 300 years ago, and chose to downplay the role played by clerics from the ultra-conservative Wahhabi school of Islam. The anniversary marks the day in 1727 when… Read More ›
In a statement property developer Limitless said, it is close to signing an agreement with creditors over around $760 million of troubled debt, marking its third restructuring in a decade. Dubai state-owned Limitless along with Nakheel, was among the biggest… Read More ›
In a significant development, the head of Saudi Arabia’s Chambers of Commerce called for a boycott of Turkish goods and service midst merchants’ reports of animosity between Riyadh and Ankara. Since years, both countries have been at loggerheads over foreign… Read More ›
The IPO, which is likely to be upwards of $20 billion, will be one of the biggest ever public offerings to hit the market. On Wednesday, in a statement Saudi Arabia’s energy minister said, the initial public offering (IPO) for… Read More ›
The development underscores a growing closeness between Moscow and Riyadh. In a development that underscores growing trade relations between Saudi Arabia and Russia, Kirill Dmitriev, the chief executive officer of Russian sovereign wealth fund RDIF stated, a number of Russian… Read More ›
Since the defeat of ISIS in Syria in March, Iraq has become an investment opportunity for countries, including Saudi Arabia and the United States, as they seek to counter Iran’s growing influence in the region. At a joint press conference… Read More ›
The shortfall in the global oil pool as a result of this potential fall in supply from Iran, is likely to be met by increased production from Saudi Arabia. On Monday, oil prices surged to $74 a barrel, their highest… Read More ›
Saudi Arabia’s PIF used an equity collar to reduce its exposure to price movements of Tesla’s shares. As per a report by the Financial Times, Saudi Arabia’s Public Investment Fund (PIF) has reduced its exposure to Tesla Inc. Saudi Arabia’s… Read More ›
In purely financial terms, the disappearance and killing of journalist Jamal Khashoggi’s at the Saudi Embassy in Turkey could turn out to be a costly affair for Saudi Arabia. On Tuesday, the Wall Street Journal reported citing a conference representative,… Read More ›
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