Financial and Banking News
Saudi Arabia and Turkey Set up $150mn Holding Company
Saudi Arabia and Turkey have agreed to establish a joint-venture holding company in Istanbul capitalized at $150mn to promote joint projects between the two countries, following the meeting held last week in Riyadh of the Saudi-Turkish Joint Commission. According to the Turkish Deputy Prime Minister, Mr. Kaya Erdem, the new company will be owned 70% by Saudi interests and 30% by Turkish...
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