The surprise announcement is the latest – and most extraordinary – in a slate of privatization programs led by the floating of oil giant Saudi Aramco. The sales are designed to boost the Saudi economy and create jobs for millions of young people. “The first capitalist city in the world … this is the unique thing that will be revolutionary,” Crown Prince Mohammed bin Salman said. “It won’t be listed in the markets until the idea is mature enough,” Prince Mohammed said. Saudi Arabia and three Arab allies cut diplomatic and transport ties with Qatar earlier this year over accusations Doha supported Islamist “terrorists”.

Source: Egypt Independent October 26, 2017 08:48 UTC