Global tech companies boost presence in Saudi Arabia, Bloomberg reports

Global technology companies, including Amazon (AMZN), Google (GOOGL), and Microsoft (MSFT), are working to ramp up their presence in Saudi Arabia after receiving pressure from the government, which said it will stop giving contracts to companies that do not have a regional headquarter in the country, Matthew Martin and Fahad Abuljadayel of Bloomberg says. The three companies have received licenses to establish regional headquarters in Riyadh, a government database shows. Airbus (EADSY), Oracle (ORCL), and Pfizer (PFE) also recently received licenses for a regional headquarters in Saudi Arabia.