The Saudi decision to join the China-led SCO comes within weeks of Beijing brokering talks for arch-rivals Tehran and Ryiadh to resume diplomatic relations.
Credit Suisse’s largest shareholder confirmed to CNBC that it had suffered a loss of around 80% on its investment.
Saudi state-controlled Aramco achieved a record profit last year, boosted by higher energy prices and firmer sale volumes.
Soccer superstar Cristiano Ronaldo’s move to Saudi club Al-Nassr, and the Kingdom’s growing investments in the sport, could have ripple effects across Europe and the U.S.
The news of Ronaldo’s signing Friday follows months of rumors and speculation as to whether he would join a Saudi team offering a lucrative contract.
Electric vehicle maker Lucid Group said it has completed a planned $1.5 billion equity offering.
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