Aramco’s IPO is central to Saudi Arabia’s strategic plan on diversifying its economy. On Monday, the CEO of Saudi Arabia’s Aramco disclosed that it plans on spending around $300 billion over ten years in upstream oil and gas projects. “This is mainly upstream, onshore, offshore and joint ventures in the kingdom and out of the…
This development will help open up the banking sector in the Middle East, Asia, and Africa. Already Canadian and Indonesian firms have gained sharia-compliant certification for their banking products. The Islamic Research and Training Institute, the research arm of the Islamic Development Bank (IDB), said it plans on using blockchain technology to develop sharia-compliant banking…
In its report, Singapore-based FireEye has detailed Iran’s growing cyber espionage capabilities which has now placed it among the “top five world cyber-power”. As per FireEye, an internet security firm, hackers who have been allegedly linked to Iran’s government have attacked computer systems at aerospace and petrochemical firms which belong to Saudi Arabia and the…
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