It's getting more expensive for Saudi Arabia to borrow, with a key lending rate hitting a record 6%. The Gulf Kingdom plans to spend hundreds of billions of dollars as part of its Vision 2030 project. It plans to fund those efforts with a combination of oil revenue and borrowed cash. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Saudi Arabia has also slashed its oil output by around 10%, or 1 million barrels a day, in a bid to bring in more revenue from its crude exports by squeezing up prices.

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