Wisest investment overlooked

A week after failing to deflate record oil prices at a summit in Saudi Arabia, the world’s biggest crude producers and consumers will get another chance to tackle the problem at a meeting this week. More than 3,000 delegates, including leading corporate and political figures, are to meet here at the 19th World Petroleum Congress (WPC)

Medina, Saudi Arabia (ANTARA News) - Saudi Arabia is pouring billions of dollars into Medina, burial place of the Prophet Mohammed and the cradle of Islam, to turn the religion’s second holiest site into a high-tech bastion. The so-called Knowledge Economic City (KEC) is the fourth in a series of pr ...

Saudi Arabia will in the near future increase its daily oil production to 9.7 million barrels from 9 million in a move to counter the sharp rise in

Nomura will announce that it has received a licence to operate in Saudi Arabia, becoming the first east Asian bank to open in the oil-rich kingdom. The Saudi regulator has authorised Japan’s largest investment bank to carry out investment and ...

’ They say if you don’t get the [production tax credit] we will not lend you the money to buy more turbines and build projects....No, no, no, we’ll just get the money by taxing Big Oil, says Mrs. Clinton....This is money laundering: we borrow money from China and ship it to Saudi Arabia and take a little cut for ourselves as it goes through our gas tanks. What a way to build our country....

Saudi poised to launch US$5.3 billion sovereign wealth fund Saudi Arabia is in the final stages of launching its first sovereign wealth fund with an initial capital base of SAR20 billion (US$5.3 billion), the Financial Times reported Tuesday. The fund, which will be set up by the state-controlled Public Investment Fund (PIF), will act as “

Andrew England writes in the FT about a new sovereign fund that Saudi Arabia is close to approving and the public investment fund (PIF), a domestically focused holding company of which it will be a subsidiary. The fund will start small, ...