Saudi Arabia’s Samba Financial Group announced on Thursday that Saudi Aramco’s initial public offering has attracted approximately 73 Billion riyals in institutional and retail orders so far. Saudi Aramco has also been in talks with officials from Kuwait’s sovereign wealth fund and investors in Dubai as it looks to market its IPO to regional buyers. In other news, Fahad Al-Rasheed, former chief executive of Emaar Economic City, has been appointed as head of a royal commission to develop the capital Riyadh with a reported 86 billion riyals to be spent on improving the quality of life.

To read about this and more of the week’s news from the Kingdom, click here.

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