Saudi Arabia Polishes Its Crown Jewel

The most critical component of the economic reform program that Crown Prince Mohammed bin Salman is spearheading is the move to put 5 percent of state-owned oil company Saudi Arabian Oil Co., or Saudi Aramco, up for an initial public offering. The sale, expected to bring in between $25 billion and $100 billion, will be the financial engine that helps power the country's economic reform. The money it generates will go into the Saudi Public Investment Fund, , which will be used to pay for the country's strategic investments domestically and abroad, underpinning its economic reform, diversification and transformation initiatives....