Saudi Arabia’s ambitious strategy to restructure the Kingdom’s economy is seen as an unprecedented departure from oil dependency to diversification. In recent years, Riyadh has relied on oil revenues for about 90% of its budget. The new economic paradigm shift involves diversification, privatisation of massive state assets — including the energy giant Aramco — tax increases and subsidy cuts. Prince ...

  Tim Culpan / David Fickling Companies in both China and the U.S. want to develop driverless cars. Slick videos and flashy powerpoint slides envision a future where humans sit back and relax while their transport pods glide across highways, seamlessly merge into traffic and pull up smoothly at the kerb. Miles Google’s driverless cars have clocked 1.5 million. What ...

  On the surface, the concept of a Russian pivot to Asia made sense, particularly greater cooperation between Moscow and Beijing. But, as a pair of fellows from the Mercator Institute for China Studies in Berlin and a senior associate at the Carnegie Moscow Center made clear in separate articles published this month, Russia’s Asia pivot has failed so far ...