Saudi Arabia announced plans for a new international airline, Riyadh Air, and is in talks to order Boeing ($BA@US) jets. The oil-rich, Middle Eastern nation would finance the deal with its sovereign Public Investment Fund. The surge in crude oil prices has helped Crown Prince Mohammed bin Salman in his efforts to diversify the economy away from the oil industry and transform Saudi Arabia into a regional business and tourism center. Saudi Arabian neighbors Dubai, Qatar, Bahrain, and the United Arab Emirates have transformed their airports into long-haul carriers for international travelers.