Late Monday, the Saudi Arabian cabinet gave its approval to the National Transformation Program, a plan aimed at diversifying the kingdom’s economy and steering it away from oil. The plan Continue Reading
Saudi Finance Minister Ibrahim Al-Assaf, pictured March 22 in Riyadh, says Saudi Arabia is ‘now… Saudi Arabia plans to sell bonds for the first time to international investors as the Continue Reading
Saudi Arabia is considering imposing income tax on foreign residents, Ibrahim al-Assaf, the finance minister said, as the cash-strapped kingdom seeks to raise non-oil revenues and cut spending to fund Continue Reading
Kingdom cuts renewables target to 10% of energy mix from 50% Saudi Arabia is scaling back renewable power targets as the world’s biggest oil exporter plans to use more natural Continue Reading
Saudi Arabia early Tuesday presented a comprehensive package of reforms aimed at boosting non-oil revenues while reducing state handouts that have weighed on the kingdom’s economy. The initiative, called the Continue Reading
Saudi Arabia on Sunday cut its oil prices to Europe, signaling mounting competition after OPEC failed to cap its output amid Iran’s exports ramp up. In an email sent to Continue Reading
Saudi Arabia’s powerful deputy crown prince is expected to visit Washington in mid-June for talks with top U.S. officials, possibly including President Barack Obama, amid growing friction between the longtime Continue Reading
The initial public offering of the world’s largest oil company will not mean an end to a long-time policy of keeping some of its production capacity idle to cushion any Continue Reading
The new oil minister in Saudi Arabia, the de facto leader of the OPEC countries, had a message for the global market: Don’t expect us to influence the price of Continue Reading
As Saudi Arabia prepares to tap international debt markets, potential investors will soon be scrutinizing details of the kingdom’s blueprint for a post-oil era. They may find the plan’s viability Continue Reading
