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...