How have Saudi’s social reforms affected Aramco IPO?

Did MbS’ approach to social reform harm the Aramco IPO? Saudi Crown Prince Mohammed bin Salman’s struggle to achieve his target Aramco valuation IPO and the lack of appetite for its IPO among foreign investors has led to increased scrutiny of his much-vaunted social reforms. While some positives have been achieved — such as lifting the ban on women drivers — the murder of Jamal Khashoggi, the state’s failure to pay its bills, and the detention of more than 300 officials and businessmen in the Riyadh Ritz Carlton have hurt the investment climate in the kingdom. Lack of economic progress is one reason why MbS placed such great importance on the listing the company this year, but now that it is completed, what is next for the Saudi economy? The Financial Times has more.