The Misk Art Institute in Riyadh has doubled its annual art grant to a total of 1 million Saudi riyals
Saudi Arabia will have to slash its budget if oil prices remain around $50 a barrel, otherwise large fiscal deficits may put pressure on the riyal’s peg to the dollar
Saudi Arabia's PIF to have 4 trillion riyals of assets by 2025: Crown Prince
Tamil Nadu: Chennai Air Customs yesterday seized currency notes -- 74,000 US dollars, 25000 Euros, 1,50,000 Saudi Riyals worth Rs 1.04 crore from 6 passengers and arrested one person. Foreign currency notes were concealed in power banks in backpacks.
Footage shows GIANT LOCUSTS being sold at a market in Saudi Arabia. They're reportedly brought from Africa via the Red Sea. One bag costs 50 Saudi riyals (US$13.50)!
COVID-19: Saudi king orders 1.8b riyals in aid to families
Saudi Aramco shares rise 10% in pre-mkt action. Aramco raised $25.6bn in the biggest-ever IPO, selling shares at 32 riyals each and valuing the company at $1.7tn, overtaking Microsoft and Apple as the most valuable listed company. (via BBG)
BREAKING: Saudi Aramco announces it priced its IPO at 32 riyals per share, valuing the company at $1.7 trillion, short of the $2 trillion that MbS targeted. If all the green shoe is exercised, Aramco will raise ~$29.4 billion, making it largest IPO in history | #OOTT #AramcoIPO
BREAKING: After insisting for nearly four years on a $2 trillion valuation, Saudi Arabia makes a U-turn and issues a preliminary guidance of $1.6-$1.7 trillion for the #AramcoIPO (and the size of the offer is smaller than expected). In Saudi riyals, price guidance is SAR30-SAR32