Accor SA agreed to sell a majority stake in its property business to a group of investors including Saudi Arabia’s Public Investment Fund for 4.4 billion euros ($5.4 billion) in cash as the French company seeks to expand in other markets. Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc and
The Commission for Audio-Visual Media has approved regulations for licensing cinemas in the Kingdom. The approval came at a meeting in Riyadh on Thursday that was presided over by Dr. Al-Awwad Bin Saleh Al-Awwad, minister of culture and information and chairman of the board of directors of the commission. The regulations specify three kinds of
Saudi authorities are preparing to auction billions of dollars of real estate and cars belonging to billionaire Maan al-Sanea and his company as they look to hasten an end to one of the kingdom’s longest-running debt disputes. The planned sale is the latest signal that Saudi Arabia is serious about holding its elites to account.