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Why Silicon Valley Bank's crisis is rattling America's biggest banks

Saudi Arabia, Iran to re-establish diplomatic ties - joint statement

RIYADH, March 10 (Reuters) - The Kingdom of Saudi Arabia and Iran have agreed to resume diplomatic ties and reopen embassies, they said in a joint statement issued in Beijing, carried by the Saudi state news agency SPA on Friday.

The two sides agreed to respect state sovereignty, not interfere in internal matters, and to activate a security cooperation agreement signed in 2001, the statement said. (Reporting by Nayera Abdallah and Tala Ramadan; Writing by Nadine Awadalla; Editing by Clauda Tanios and John Stonestreet)