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Having already used its energy riches to upend the worlds of sports, tourism and movies, Saudi Arabia’s Crown Prince Mohammed bin Salman is prepared to pour billions of dollars into tapping the more than $1.3 trillion of metals his government says is buried in places like this.
(Bloomberg) -- In scorching summer heat, Renier Swiegers marches through the desert toward a drilling rig. He’s not looking for oil, the dynamo of Saudi Arabia’s economy the past 80 years, though. It’s another potential source of wealth and influence the kingdom now has its eye on.Most Read from BloombergIndia’s Moment Has Arrived, and Modi Wants a New Global OrderFed Set to Double Its Economic Growth Forecast After Strong US DataSoaring US Dollar Raises Alarm as China, Japan Escalate FX Pushbac
Bank of China (BOC), one of China’s four biggest state-owned banks, opened its branch in Riyadh on Tuesday amid growing economic activity between China and Saudi Arabia.
On Paper, Yes, as the Kingdom Works to Wean Itself Off Oil. But Saudi Leaders Haven’t Expressed Much Interest in the Economic Angle of Ties With Israel
Under one agreement with Taurus, a new weapons factory could be built in Saudi Arabia following a study on the matter.