All news related to Saudi Arabia

Saudi Arabia is planning to create $2 trillion sovereign wealth fund

01.04.2016 21:58

Saudi Arabia is planning to create $2 trillion sovereign wealth fund

YEREVAN, April 1, /ARKA/. Saudi Arabia is planning to create a $2 trillion sovereign wealth fund to reduce the country's reliance on oil and fundamentally change its economy,  according to Bloomberg.

In an interview with Bloomberg Saudi Deputy Crown Prince Mohammed Bin Salman said the fund, which would be the biggest in the world — easily eclipsing the funds of both Norway and Qatar — is designed to help the country's economy rely less on oil.

As part of fund's creation, the kingdom will go ahead with an initial public offering of its state-run oil firm Aramco, selling no more than 5% of the company.

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Saudi Arabia opens its stock market to foreigners

15.06.2015 14:08

Saudi Arabia opens its stock market to foreigners

Saudi Arabia is opening one of the world’s most-restricted stock markets to foreigners for the first time on Monday, Bloomberg reports

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Saudi Arabia to open its $530 billion stock market to the world

23.07.2014 12:20

Saudi Arabia to open its $530 billion stock market to the world

Saudi Arabia plans to open its $530 billion stock market to foreigners, a move that will allow the Middle East’s biggest economy to attract more international investments and help reduce its dependence on oil revenue, Prime reports referring to Marketwatch

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