Saudi oil giant Aramco’s shares rose after a major $11.2 billion stock sale amid strong demand, aligning with Saudi Arabia's Vision 2030.
The movement of funds from Saudi Arabia to the PIF from SAMA, as the central bank is known, indicates that the role of the central bank could be gradually shifting, Mohamad Al Hajj, Dubai-based equity strategist for the Middle East and North Africa at EFG-Hermes U.A.E. Ltd.
Saudi can possibly have a winter wonderland as snow covers its deserts.
The Kingdom of Saudi Arabia's sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, according to five people with knowledge of the matter.
Softbank will give its Investment and will tie up with Saudi Arabia with a multibillion investment.
Next month, Iran is going to reduce prices for all its oil grades export to Asia, according to two people who knew the decision. There will be a reduction on the premium on its main light crude over the similar Saudi blend to the narrowest since the end of 2012 as reported by Bloomberg.
A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.
Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.
Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.
Subscribe to VCpost newsletter
Most Popular
- Rodrigo González Mendoza's Vision: Filmica AI Simplifies Film Production
- Biden Admin to Boost Federal Grants for Higher Wages and Improved Benefits
- Top 5 World's Oldest Coins: Which of Them Is Still Being Used Today?
- Setting the Standard and Addressing Challenges: How Eastview Logistics Group Is Enhancing Driver Safety
- Gov. Newsom Urges Special Session to Cut California's Gas Prices 40% Higher Than US Average
- North Carolina 'Musician' Faces Charges After Earning $10M from AI-Generated and Bot-Boosted Music
- Minimizing Risk of Bias and Enhancing Precision: The Future of Talent Acquisition with MHAYA.ai
- Hacker Starts Laundering $234M Stolen From India’s WazirX Crypto Exchange