Tags: Saudi Arabia
$100 Billion SoftBank Tech Fund to Invest With Saudis
Softbank Group Corp. has declared its alliance with Saudi Arabia. Japan's Softbank was happy to have Saudi as its partner in a multibillion investment. The biggest bet ever.
Energy stocks propels Wall Street profits following oil price rally
Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
Fitch Degraded Saudi Arabia From AA to AA-
Saudi Arabia just got a negative rating from Fitch, from AA to AA-. The downgrade is due to the oil-rich kingdom's decision to slash its average oil price assumptions from $35 to $45 a barrel for 2016 and 2017.
Russian Output Reached 30-Year High Ahead of Meeting with Oil Producing Countries
Russia produced 10.91 million barrels per day in March. This recorded as the highest in 30 years and raising the doubt on the production freeze.