Saudi conference begins after exodus of CEOs
6 years, 2 months ago

Saudi conference begins after exodus of CEOs

CNN  

Riyadh, Saudi Arabia CNN Business — Saudi Arabia’s investment conference opened on Tuesday with a dearth of big name speakers and a fleeting appearance by its sponsor, Crown Prince Mohammed bin Salman. Speaking to CNN Business at the conference, the head of Saudi oil company Aramco, Amin Nasser, said “everyone here feels sorry” about Khashoggi’s death but the kingdom was pushing ahead with its investment plans. “We feel sorry for his family and what happened, but at the end of day you know, we need to move beyond that,” Nasser told CNN Business’ Emerging Markets Editor John Defterios. The Saudi government, which had initially claimed Khashoggi left the consulate alive, has since admitted he was killed inside the building but insisted it was a “tremendous mistake” and the result of a “fistfight.” That explanation has drawn skepticism, including from US President Donald Trump who said Monday he was “not satisfied” with what he’d heard.

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History of this topic

China, Saudi Arabia fortify pillar of relations by expanding investment, trade
4 months ago

China, Saudi Arabia fortify pillar of relations by expanding investment, trade

China Daily  

RIYADH - Chinese Premier Li Qiang's visit to Saudi Arabia, which concluded on Wednesday, has underscored the role of investment and trade as a key pillar of the China-Saudi Arabia relationship. Following the meetings, Saudi Arabia's Minister of Investment Khalid Al-Falih told Xinhua that China and Saudi Arabia have bright prospects for investment cooperation, noting that around 750 Chinese joint …

Putin and Saudi Crown Prince discuss OPEC+ cooperation in whirlwind visit
1 year, 1 month ago

Putin and Saudi Crown Prince discuss OPEC+ cooperation in whirlwind visit

Live Mint  

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed further cooperation on oil prices on Wednesday, December 6, as members of OPEC+, a Kremlin spokesperson was quoted as saying. A Saudi account of the meeting said the crown prince praised joint coordination between the two countries "that helped remove tensions in the Middle East". Putin and the …

Vantage | What Putin's rare trip abroad to UAE, Saudi is all about
1 year, 1 month ago

Vantage | What Putin's rare trip abroad to UAE, Saudi is all about

Firstpost  

As Putin embarks on this diplomatic journey, the meetings with Saudi Arabia and the UAE could provide valuable insights into the evolving dynamics of Russia’s relationships in the Middle East In an unexpected diplomatic move, Russian President Vladimir Putin is embarking on a rare foreign trip amid the ongoing war in Ukraine. OPEC Plus connection Putin’s journey to Saudi Arabia …

Saudi crown prince says in rare interview ‘every day we get closer’ to normalization with Israel
1 year, 3 months ago

Saudi crown prince says in rare interview ‘every day we get closer’ to normalization with Israel

Associated Press  

WASHINGTON — Saudi Crown Prince Mohammed bin Salman said in a rare interview with Fox News on Wednesday that negotiations over Israel means the prospects of normalized relations between both countries “get closer” every day, but that treatment of Palestinians remains a “very important” issue to be resolved. Netanyahu’s office said the meeting “mostly dealt with ways to establish an …

Meeting sends positive signal amid conflict
1 year, 5 months ago

Meeting sends positive signal amid conflict

China Daily  

Saudi Arabia security talks to help solve Russia-Ukraine crisis lauded Representatives from China, the US, and Saudi Arabia take part in talks in Jeddah, Saudi Arabia, over the weekend, in an effort to find a solution to the Russia-Ukraine conflict. SAUDI PRESS AGENCY/REUTERS The meeting of several national security advisers hosted by Saudi Arabia in Jeddah over the weekend to …

Officials say Saudi Arabia will host a Ukrainian-organized peace summit over Russia’s war in August
1 year, 5 months ago

Officials say Saudi Arabia will host a Ukrainian-organized peace summit over Russia’s war in August

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia will host a Ukrainian-organized peace summit in early August seeking to find a way to start negotiations over Russia’s war on the country, officials said Sunday. “The Ukrainian Peace Formula contains 10 fundamental points, the implementation of which will not only ensure peace for Ukraine, but also create mechanisms to counter future conflicts …

As Blinken visits, top Saudi diplomat says kingdom seeks US nuclear aid but ‘others’ also bidding
1 year, 7 months ago

As Blinken visits, top Saudi diplomat says kingdom seeks US nuclear aid but ‘others’ also bidding

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s foreign minister said after meeting with the visiting U.S. secretary of state on Thursday that while the kingdom would welcome U.S. aid in building its civilian nuclear program, “there are others that are bidding.” Foreign Minister Prince Faisal bin Farhan was responding to a question about recent news reports that Saudi Arabia is …

‘Troubled marriage’: Oil spat unlikely to break US-Saudi ties
2 years, 2 months ago

‘Troubled marriage’: Oil spat unlikely to break US-Saudi ties

Al Jazeera  

Washington, DC – Despite growing anger in Washington and US President Joe Biden’s threat that Saudi Arabia will face “consequences” over oil production cuts, analysts say a fundamental change in relations between the United States and the Gulf kingdom is unlikely. Saudi Arabia insists that the decision to reduce oil production is “purely economic” and aimed at stablising energy markets …

Saudi Arabia’s ‘Davos of the Desert’ awaits new US policy
3 years, 11 months ago

Saudi Arabia’s ‘Davos of the Desert’ awaits new US policy

Al Jazeera  

Saudi Arabia, the Arab world’s largest economy, is scheduled to hold its annual Future Investment Initiative amid the ongoing coronavirus pandemic and a new US administration said to be reluctant to cede to the kingdom’s strategic imperatives. There has never been a more important time to bring the greatest minds together to harness this opportunity to reimagine our world.” Vision …

Saudi stock offering creates world’s most valuable company
5 years, 1 month ago

Saudi stock offering creates world’s most valuable company

Associated Press  

RIYADH, Saudi Arabia — Saudi Arabian oil company Aramco surpassed Apple as the world’s most valuable public company Wednesday when its shares made their debut on the Saudi stock exchange, part of an ambitious shift away from the very fossil fuels the country’s economy depends on. Zachary Cefaratti, chief executive officer of Dalma Capital, which manages Saudi equity funds that …

Saudi Aramco IPO starts November 17, offer size still pending
5 years, 2 months ago

Saudi Aramco IPO starts November 17, offer size still pending

Live Mint  

Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from Nov. 17. Also, the Saudi government, the company’s sole owner, won’t offer any additional shares during the 12-month period after listing, but retains the right to sell to foreign governments or investors affiliated with foreign governments. Key details: Saudi Arabia is pulling out all …

Saudi Arabia formally starts IPO of oil firm Saudi Aramco
5 years, 2 months ago

Saudi Arabia formally starts IPO of oil firm Saudi Aramco

Associated Press  

DHAHRAN, Saudi Arabia — Saudi Arabia formally began an initial public offering Sunday of a sliver of oil giant Saudi Aramco after years of delay, hoping international and local investors will pay billions of dollars for a stake in the kingdom’s crown jewels. Saudi Aramco also has proven liquid reserves of 226.8 billion barrels, the largest of any company in …

The Kingdom of Spin: Saudi Arabia’s PR machine and the murder of Jamal Khashoggi
5 years, 3 months ago

The Kingdom of Spin: Saudi Arabia’s PR machine and the murder of Jamal Khashoggi

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Donald Trump, who had been …

Saudi Arabia is in a rush to boost oil prices ahead of record-setting Aramco IPO
5 years, 4 months ago

Saudi Arabia is in a rush to boost oil prices ahead of record-setting Aramco IPO

CNN  

New York CNN Business — Today’s stubbornly-low oil prices are standing in the way of Saudi Arabia’s grand ambitions. Saudi Arabia’s surprise decision over the weekend to install a new oil minister, its third in just over three years, reflects a sense of urgency about boosting prices ahead of the planned Aramco IPO. The entire country is intertwined with oil …

Saudi Arabia’s giant and secretive oil company will make its half-year profits public on Monday
5 years, 5 months ago

Saudi Arabia’s giant and secretive oil company will make its half-year profits public on Monday

CNN  

New York CNN Business — Saudi Arabia’s secretive state-owned oil company will host its first-ever earnings call Monday, a move that could signal the company is still planning a massive initial public offering. The Saudi Arabian Oil Company, known as Saudi Aramco, has been working toward what could be the biggest IPO in history. By comparison, Apple, the world’s largest …

How Russia’s domestic divisions could foil its Middle East plans
5 years, 10 months ago

How Russia’s domestic divisions could foil its Middle East plans

Al Jazeera  

For most outside observers of the Kremlin, Russia‘s policymaking process is an inscrutable monolith, with decisions taken exclusively by President Vladimir Putin and any dissent stifled behind closed doors. Two recent controversies over Russia’s relationship with longtime energy rival Saudi Arabia show that these days there are widening political and ideological divisions between two infleuntial groups in particular: Soviet-style interventionists …

Saudi Aramco: A story of oil, wealth and power
5 years, 11 months ago

Saudi Aramco: A story of oil, wealth and power

Al Jazeera  

A story of oil, wealth, power and shifting fortunes – the fate of a company and kingdom. “I think there was a strong case for the IPO and there still is for the selling of a stake of Saudi Aramco and there are lots of reasons for it,” explains Jim Krane, an energy researcher at Rice University’s Baker Institute for …

Kingdom Holding says it will invest $1 billion in Saudi Arabia
5 years, 11 months ago

Kingdom Holding says it will invest $1 billion in Saudi Arabia

CNN  

Dubai CNN Business — The company founded by Saudi Arabia’s most prominent globalinvestor plans to spend more of its money at home. Kingdom Holding CEO Talal Ibrahim Al Maiman said Monday the firm plans to spend $1 billion in Saudi Arabia over the next six months as the country attempts to repair its reputation withforeigninvestors after the murder of journalist …

Trump statement on Saudi crown prince and the killing Jamal Khashoggi
6 years, 1 month ago

Trump statement on Saudi crown prince and the killing Jamal Khashoggi

CNN  

CNN — Office of the Press Secretary FOR IMMEDIATE RELEASE November 20, 2018 Statement from President Donald J. Trump on Standing with Saudi Arabia America First! Iran states openly, and with great force, “Death to America!” and “Death to Israel!” Iran is considered “the world’s leading sponsor of terror.” On the other hand, Saudi Arabia would gladly withdraw from Yemen …

Can Saudi Arabia win back its business partners after journalist’s murder?
6 years, 2 months ago

Can Saudi Arabia win back its business partners after journalist’s murder?

CNN  

Riyadh, Saudi Arabia CNN Business — Global business relationships that were carefully cultivated by Saudi Arabia have been badly damaged by the murder of journalist Jamal Khashoggi, casting the kingdom’s economic reforms into serious doubt. The kingdom had hoped an investment conference in Riyadh this week would be a star-studded celebration of Crown Prince Mohammed bin Salman’s Vision 2030 program …

Under Jamal Khashoggi shadow, Saudis put best face on business summit
6 years, 2 months ago

Under Jamal Khashoggi shadow, Saudis put best face on business summit

Live Mint  

Riyadh/Dubai: Global business leaders may have stayed away, but Saudi Arabia’s flagship investment conference started on Tuesday with a crowd. Another changed the topic to talk about the conference’s agenda.thirdMAds A surprise appearance was made by Saudi Arabia’s main foreign antagonist in the Khashoggi affair: Turkish President Recep Tayyip Erdogan, whose speech scorning the kingdom’s version of events was briefly …

Saudi Arabia's investment conference draw deals worth $50 billion despite boycotts over Jamal Khashogi's killing
6 years, 2 months ago

Saudi Arabia's investment conference draw deals worth $50 billion despite boycotts over Jamal Khashogi's killing

Firstpost  

A number of Western politicians and global business chiefs stayed away from Saudi Arabia’s premier investment event over the Khashoggi case. Riyadh: Saudi Arabia’s crown prince trumpeted on Tuesday a conference that has drawn investment deals worth $50 billion despite a boycott over the killing of journalist Jamal Khashoggi, declaring the event as “great - more people more money”. The …

Future Investment Initiative: Saudi is still doing deals
6 years, 2 months ago

Future Investment Initiative: Saudi is still doing deals

CNN  

Riyadh, Saudi Arabia CNN Business — Saudi Arabia has signed agreements worth over $50 billion with global companies at an investor conference in Riyadh despite the international uproar over the killing of journalist Jamal Khashoggi. State oil company Aramco announced Tuesday that it had signed 15 memorandums of understanding worth $34 billion with firms from eight countries, including the United …

As business leaders begin to shun Saudi Arabia over Jamal Khashoggi disappearance, big blow to oil-rich country's economic reputation
6 years, 2 months ago

As business leaders begin to shun Saudi Arabia over Jamal Khashoggi disappearance, big blow to oil-rich country's economic reputation

Firstpost  

The disappearance of Saudi journalist Jamal Khashoggi last seen entering the kingdom’s consulate in Istanbul has shaken businesses’ confidence in the country as a place to do business, with potential consequences for billions of dollars in investments into and out of the country. “Foreign investment is a main pillar of Vision 2030,” said Sebastian Sons, an expert on Saudi Arabia …

Big tech’s Saudi Arabia ties in doubt after Khashoggi
6 years, 2 months ago

Big tech’s Saudi Arabia ties in doubt after Khashoggi

CNN  

CNN Business — This spring, the crown prince of Saudi Arabia met the royalty of Silicon Valley: Tim Cook, Jeff Bezos and Sundar Pichai. The question these companies keeping asking his firm now in the wake of the Khashoggi news: “Tell me how this ends.” The unfolding situation pits Silicon Valley’s self-professed idealism against the opportunity to tap into the …

PR and politics: ‘Davos of the Desert’ sees mass cancellations
6 years, 2 months ago

PR and politics: ‘Davos of the Desert’ sees mass cancellations

Al Jazeera  

Hailed as the start of Saudi’s economic reform, the Future Investment Initiative is now tainted by the Khashoggi case. — CNN Communications October 12, 2018 But Luciano Zaccara, research coordinator at Qatar University’s Gulf Studies Center, said it remains to be seen if the cancellations will have any long-term effect and if companies are not just pulling out for public …

Saudi conference: All the business A-listers that have bailed
6 years, 2 months ago

Saudi conference: All the business A-listers that have bailed

CNN  

CNN Business — Most of the big names who were due to attend Saudi Arabia’s investment conference next week have bailed out following the disappearance and apparent killing of prominent journalist Jamal Khashoggi. IMF Managing Director Christine Lagarde dropped out on Wednesday closely followed by the heads of two of France’s biggest banks. These are the high-profile participants who have …

IMF chief Christine Lagarde is skipping Saudi Arabia’s investment conference
6 years, 3 months ago

IMF chief Christine Lagarde is skipping Saudi Arabia’s investment conference

CNN  

Hong Kong CNN Business — Saudi Arabia’s big investment conference is losing more high-profile guests as the international crisis over the disappearance of journalist Jamal Khashoggi intensifies. The IMF said in a statement late Tuesday that Managing Director Christine Lagarde’s trip to the Middle East for the conference next week “is being deferred.” It’s an abrupt change of position from …

Attendees drop out of conference known as ‘Davos in the Desert’
6 years, 3 months ago

Attendees drop out of conference known as ‘Davos in the Desert’

CNN  

CNN Business — Some of the biggest names in global business and finance have canceled plans to attend an investment conference in Saudi Arabia next week because of the unexplained disappearance of prominent Saudi journalist Jamal Khashoggi. The Saudi conference, known as “Davos in the desert,” is part of Crown Prince Mohammed bin Salman’s plan to transform the oil-dependent economy. …

How will Saudi Arabia deal with the stock market plunge?
6 years, 3 months ago

How will Saudi Arabia deal with the stock market plunge?

Al Jazeera  

Saudi shares take a dive in the aftermath of the disappearance of journalist Jamal Khashoggi. The fall comes a day after US President Donald Trump threatened ‘severe punishment’ if Saudi Arabia was found to be responsible for Khashoggi’s disappearance, but Riyadh warned it would retaliate if economic sanctions are imposed on it. As pressure mounts on Saudi Arabia, several US …

Saudi Arabia vows response if Khashoggi case triggers sanctions
6 years, 3 months ago

Saudi Arabia vows response if Khashoggi case triggers sanctions

Al Jazeera  

Riyadh has fired back at threats of economics consequences coming from the US. Saudi Arabia said on Sunday it would retaliate to possible economic sanctions taken by other states over the case of Jamal Khashoggi, state news agency SPA reported. On Saturday, US President Donald Trump vowed “severe punishment” for the Saudis if evidence arises proving they had a role …

JPMorgan CEO and Ford chairman pull out of Saudi Arabia’s ‘Davos in the desert’
6 years, 3 months ago

JPMorgan CEO and Ford chairman pull out of Saudi Arabia’s ‘Davos in the desert’

CNN  

New York CNN Business — A growing number of top business leaders are pulling out of a high-profile Saudi investment conference following the disappearance of journalist Jamal Khashoggi. A JPMorgan Chase spokesperson said late Sunday that the bank’s CEO, Jamie Dimon, won’t attend the conference later this month as previously planned. The Saudi business conference, officially titled the Future Investment …

Saudi ‘Davos in the Desert’ attendees drop out over Khashoggi disappearance
6 years, 3 months ago

Saudi ‘Davos in the Desert’ attendees drop out over Khashoggi disappearance

LA Times  

Bloomberg The mysterious disappearance of a prominent critic of the Saudi Arabian government is prompting some business leaders to back away from the “Davos in the Desert” event intended to showcase Prince Mohammed bin Salman’s modernization plan for the desert kingdom. Other confirmed dropouts now include: • Bob Bakish, Viacom Inc. chief executive • Dara Khosrowshahi, Uber Technologies Inc. CEO …

Media sponsors drop out of Saudi conference after journalist goes missing
6 years, 3 months ago

Media sponsors drop out of Saudi conference after journalist goes missing

CNN  

London CNN Business — Media companies are pulling out of a high-profile business conference in Saudi Arabia as questions mount about the kingdom’s role in the disappearance of journalist Jamal Khashoggi. The Future Investment Initiative, also known as “Davos in the desert,” is hosted by Saudi Crown Prince Mohammed bin Salman and is part of his Vision 2030 plan to …

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