Saudi deal to invest in an infrastructure project in Russia

• A consortium led by a Saudi royal has struck a deal to invest in an infrastructure project in Russia’s Urals region, pointing to an upswing in business ties between the two largest oil producing countries.
• Riyadh-based Novaar Capital Management, the family office of a descendant of Saudi Arabia’s founder, will invest through a joint venture with government-owned Ural Industrial-Ural Polar.