The business outlook for Saudi Arabia’s non-oil private sector remains positive, despite showing the weakest improvement for five months, according to the IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI). Saudi Arabia’s Vice Defense Minister Prince Khalid bin Salman met with US Secretary of State Mike Pompeo in Washington where they discussed recent events in the region and efforts toward maintaining international stability. In other news, Saudi Aramco exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion.

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

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