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Saudi Arabia’s Energy Minister Khalid Al-Falih stated that the Kingdom exercises responsible oil policies as he acknowledged that “despite the surplus in global oil production and lower prices, the focus of attention remains on countries such as Saudi Arabia which, Read more
Washington has underscored its desire to be a key partner in helping Saudi Arabia implement its economic reform program that it deemed “ambitious”. This came in the meeting Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, the Second Deputy Premier Read more
Egypt’s State Council Administrative Court challenged to rule on the government’s decision to hand over the two Red Sea Islands to Saudi Arabia under the April controversial agreement Tuesday set up June 21 for its verdict, reports say. President Al Read more
Saudi Energy Minister Khalid al-Falih said Riyadh will not be increasing its oil output because “there is no reason to expect that Saudi Arabia is going to go on a flooding campaign” as he reassured that “we will be very Read more
Saudi Arabian Public Investment Fund (PIF,) the oil-rich kingdom’s long-term sovereign investment arm, has pumped $3.5 billion into Uber and will henceforth occupy a seat as a member of the Board of Directors. The amount is the highest solitary amount Read more
Data released by the Saudi Arabian Monetary Agency showed that the kingdom’s foreign assets dropped by 1.1% in April highlighting that Riyadh is struggling with its finances as it is the 15th consecutive month that foreign assets are dwindling. The Read more
A meeting between Russian Foreign Minister Sergei Lavorv and the President of the Gulf Cooperation Council (GCC) Adel Al-Jubeir, Saudi Arabia’s foreign affairs minister, focused on various topical regional issues, mainly in the Middle East and North Africa, and discussed Read more
In the latest developments over the Hajj feud between Iran and Saudi Arabia, the Saudi hajj ministry undersecretary Hussein Sharif said talks with an Iranian delegation on Wednesday ended on a “positive” note. The talks reviewed the “arrangements, as well Read more
The International Monetary Fund has applauded Saudi Arabia’s economic reform program under Vision 2030 as being “an appropriately bold and far-reaching transformation of the Saudi Arabian economy.” IMF said ensuring the success of the long-delayed reforms announced last month will Read more
Over the weekend, credit rating company Moody’s downgraded Saudi Arabia by a notch from Aa3 to A1 citing that “a combination of lower growth, higher debt levels and smaller domestic and external buffers leave the Kingdom less well positioned to Read more