My Daily Routine (MD Mujeeb Subhan)

  RIYADH: Saudi Arabia announced plans on Tuesday to inject investments worth $3.2 trillion into the national economy by 2030 in a bid to diversify the oil-reliant kingdom's biggest companies. The announcement by de facto ruler Crown Prince Mohammed bin Salman underscores an effort to jumpstart the domestic economy as the top crude exporter battles high youth unemployment and a coronavirus-triggered downturn. "The total investment injected... into the national economy is expected to reach 12 trillion riyals ($3.2 trillion) by 2030," Prince Mohammed said in a speech carried by state television. Twenty-four of the kingdom's biggest companies, including energy giant Aramco and petrochemical firm SABIC, will lead the investment drive by contributing five trillion riyals over the next decade, the crown prince told reporters later at a virtual briefing. He said the companies, many of them listed, had agreed to lower their dividends and redirect the money into the domestic e...