Why is Saudi Arabia cutting funding, reducing costs on ambitious projects?

Saudi Arabia is reevaluating its financial priorities under Crown Prince Mohammed bin Salman’s ambitious Vision 2030 plan to diversify the nation away from a reliance on oil.

Saudi Arabia

From Israel to Iran, Modi 3.0 eyes deepening of India's Middle East ties

India refuses to be restricted by its former Cold War commitments; as with any other power or wannabe power, only self-interest matters, and the oil monarchies of the Gulf top India's list of friends in the region.

Iran

Saudi Arabia holds investment summit in Brazil, plans to invest $15B

Brazil’s energy minister said Saudi Arabia plans to invest $15 billion in the South American country, bolstering already strong economic relations based largely on mining, meat and oil.

Saudi Arabia

UAE, Saudi leaders expected at Italy's G7 summit as Meloni boosts Gulf ties

Italy is seeking Saudi investments and closer gas ties with the UAE, all while it focuses on migration and energy-related interests in North Africa.

Saudi Arabia

Analysis

How Saudiwood’s power play is reshaping Middle East film industry

While the country's first entry at Cannes didn’t win, its inclusion in the festival was another step toward Saudi ambitions to become a film industry powerhouse.

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Saudi Arabia poised to raise $11.2B in Aramco's second IPO

Aramco had set a price range of its shares between 26.7 and 29.0 riyals ($7.12 and $7.73) but said on Friday it ended up pricing them at 27.25 riyals ($7.27).

Saudi Arabia

Saudi Arabia joins China, UAE in digital currency project

The kingdom is joining the Switzerland-based Bank for International Settlements' central bank digital currency platform.

Saudi Arabia

Qatar National Bank says GCC banks have more liquidity than global rivals

An executive at the Qatari lender said that Gulf countries will have to compete with the rest of the world for billions of dollars in equity to finance infrastructure projects, of which there is a higher demand than supply.

Saudi Arabia

Jordan seizes 9.5 million Captagon pills at Saudi border

Much of Jordan’s efforts to counter drug smuggling focus on the Syrian border, but Saudi Arabia remains a major destination for Captagon.

Jordan

Le Drian says France keen to help Saudi Arabia transition away from oil

France's former top diplomat said that his country was supportive of Saudi Arabia's efforts to diversify its economy.

Saudi Arabia

Saudi Arabia sees 477% increase in multinational HQs in first quarter

The 127 international companies relocating to Saudi Arabia so far this year follow a Saudi program to attract world businesses.

Saudi Arabia

Analysis

Can Gulf investors outstrip China in Africa as UAE expands reach?

As the UAE, Saudi Arabia and other GCC states boost investments in Africa,Beijing’s Belt and Road Initiative could face serious challenges.

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran