Saudi Minister of Finance Mohammed al-Jadaan.

Aramco IPO proceeds to fund Saudi industry, including defense

Saudi Arabia to pump the proceeds from last month’s IPO of Saudi Aramco into the local economy over several years. This includes building up the domestic defense industry amid tensions with Iran, its finance minister said on Tuesday. Mohammed al-Jadaan told Reuters there were “serious efforts” to reduce antagonism between Washington and Tehran. Especially after the killing...

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