Markets

Moody’s cuts Saudi Arabia’s credit outlook to negative, cites oil-price shock driven by coronavirus

Moody’s downgraded Saudi Arabia’s sovereign outlook to negative from stable on Friday, citing increased downside risks to the kingdom’s fiscal strength from the oil rout. “The government’s balance sheet has weakened since the previous oil price shock in 2015-16, notwithstanding some recent improvements in budget execution, leaving the sovereign’s credit […]
Moody’s cuts Saudi Arabia’s credit outlook to negative, cites oil-price shock driven by coronavirus
News

China could be the biggest loser from the Saudi Arabia oil attack

Saudi Arabia’s oil production was slashed in half on Saturday during an attack on two of its main oil facilities. The attack wiped about 5% of the world’s daily production of crude oil, equal to about 5 million barrels. Yemen’s Houthi rebel group claimed responsibility for the attacks, though the […]
China could be the biggest loser from the Saudi Arabia oil attack
News

The family of a prominent jailed Saudi women’s-rights activist says she turned down a deal to deny being tortured and sexually assaulted in prison in exchange for her freedom

The family of a jailed Saudi women’s-rights activist says she has refused a deal in which she would deny allegations of torture at the hands of prison guards in exchange for her freedom. Loujain al-Hathloul, a prominent advocate of Saudi women’s right to drive and an outspoken critic of Saudi […]
The family of a prominent jailed Saudi women’s-rights activist says she turned down a deal to deny being tortured and sexually assaulted in prison in exchange for her freedom
Tech

SoftBank’s Masayoshi Son says he wants to keep working with the Saudi government, despite the Khashoggi killing, in order to continue to bring the benefits AI ‘to the people’

On an earnings call Wednesday, SoftBank Chairman and CEO Masayoshi Son was asked about the killing of the Washington Post journalist Jamal Khashoggi in relation to the Saudi sovereign-wealth fund’s interest in backing Vision Fund 2, Axios reported on Wednesday. The Saudi sovereign-wealth fund was a large contributor to SoftBank’s […]
SoftBank’s Masayoshi Son says he wants to keep working with the Saudi government, despite the Khashoggi killing, in order to continue to bring the benefits AI ‘to the people’