Saudi Arabia’s credit default swaps (CDS) have hit a six-month high as its renewed conflict with Yemen disrupts economic activity, although recovering oil exports are helping to soothe investor concerns over its creditworthiness.
Oil prices rose in early Wednesday trading after Yemeni Houthi militants claimed to have struck Saudi Arabia’s biggest refinery and Abha International Airport, raising concerns about potential supply disruption.
Saudi Aramco is investing in oil storage as it seeks to offer stronger operational resilience in the event of future energy shocks like those experienced this year.
Saudi Arabia has assembled the building blocks of a global gaming empire, but faces the challenge of managing its buyout of games developer Electronic Arts, shedding debt and integrating its acquisitions with its domestic startups.