Apple, Amazon heading to Saudi Arabia?

Apple, Amazon heading to Saudi Arabia?

December 28, 2017 0 By User

seekingalpha.com said with Saudi Arabia’s Crown Prince Mohammed bin Salman looking to give the kingdom a high-tech makeover, Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) are in licensing discussions with Riyadh on investing in Saudi Arabia.

The portal cited sources that told Reuters of the development.

Both companies already sell products in the kingdom – which has been easing regulatory impediments for last two years – via third parties, but they have yet to establish a direct presence there.

Apple has also boosted its CEO Tim Cook’s pay cut which jumped 47% to $12.8M, up from $8.7M in 2016 a year after delivering an unusual pay cut in compensation for fiscal-year 2017 as the company exceeded annual sales and profit goals.

Apple’s board also implemented a policy requiring Cook to “use private aircraft for all business and personal travel.”