Saudi Crown Prince Muhammad bin Salman staged a brief visit to key Gulf ally Abu Dhabi this week. The Crown Prince (MbS) met the UAE’s de facto leader Prince Muhammad bin Zayed (MbZ) and signed four MoUs during the second Saudi-Emirati Coordination Council (SECC) meeting.
Arguably the key priority was to drum up investment for the Saudi Aramco IPO. Saudi Arabia is floating 1.5%, and plans to raise up to $25.6bn through the partial domestic listing (MEES, 22 November). Having abandoned efforts to secure western investment, for now at least, Saudi Arabia is looking to its neighbors to supplement domestic investors. (CONTINUED - 303 WORDS)