Page 17 - Saudi Arabia

Unprecedented rise in India-Saudi strategic relations

India's trade with the Arab world has already surpassed an all-time high of $240 billion a year

Essar plans to make Saudi Arabia regional hub to drive expansion locally

Saudi Arabia has been trying to shift its economy away from oil and is aiming to manufacture more than 300,000 cars annually by 2030

India, Saudi Arabia commerce ministers discuss ways to promote trade ties

Commerce and Industry Minister Piyush Goyal on Wednesday held discussions with his Saudi Arabian counterpart Majid bin Abdullah AlKassabi on ways to further promote trade ties between the two countries. Goyal was in Riyadh for two days to attend the seventh edition of Future Investment Initiative (FII). "Discussed how the robust India-Saudi trade ties can be further scaled to make global supply chains more resilient," Goyal said on social platform X. He also met Saudi Arabia Energy Minister Prince Abdul Aziz Bin Salman Al-Saud; Investment Minister Khalid A Al Falih; Industry and Mineral Resources Minister Bandar bin Ibrahim AlKhorayef; and Governor Public Investment Fund (PIF) Yassir Rummayyan. Goyal talked about the multiple opportunities offered by India. The bilateral trade between the countries stood at USD 52.75 billion in 2022-23 against USD 42.86 billion in 2021-22. India received USD 3.22 billion in foreign direct investment from Saudi Arabia between April 2000 and June 2

India, Saudi Arabia discuss ways to increase bilateral investments

Commerce and Industry Minister Piyush Goyal on Tuesday met Saudi Arabia's Minister of Investment Khalid A Al-Falih, and discussed ways to boost bilateral investments between the two countries in different sectors. Goyal, who is on a two-day visit to Riyadh, also participated in the seventh edition of the Future Investment Initiative (FII) in Riyadh. "Met H.E. @Khalid_AlFalih, Saudi Arabia's Minister of Investment. Discussed expanding investment across diverse sectors to foster economic growth & further enhance the strategic partnership between India & Saudi Arabia," Goyal said in a post on X. In the FII event, Goyal deliberated on new pathways for investment with the goal of creating a positive global impact and navigating new frontiers of growth and prosperity. FII Institute is a global non-profit foundation, which aims to gather government and business leaders from around the world to discuss new pathways for investment. Its four areas of focus are artificial intelligence ...

Hamas attacked Israel in part to stop agreement with Saudi Arabia: Biden

President Joe Biden said Friday he thought Hamas was motivated to attack Israel in part by a desire to stop that country from normalising relations with Saudi Arabia. One of the reasons Hamas moved on Israel they knew that I was about to sit down with the Saudis, Biden said at a fundraising event. The US president indicated that he thinks Hamas militants launched a deadly assault on October 7 because, Guess what? The Saudis wanted to recognise Israel and were near being able to formally do so. Jerusalem and Riyadh had been steadily inching closer to normalization, with Biden working to help bring the two countries together, announcing plans in September at the Group of 20 summit in India to partner on a shipping corridor. Israeli Prime Minister Benjamin Netanyahu met with Biden on the sidelines of the UN General Assembly in September and told him, I think that under your leadership, Mr President, we can forge a historic peace between Israel and Saudi Arabia. The Saudis had been ..

Israel-Hamas conflict clouds loom over crude oil and LNG supplies

Iran getting drawn into Israel war could hamper nearly 80 percent of liquified natural gas flows to India

EAM speaks to Saudi Foreign Minister on 'grave' situation in Middle-East

External Affairs Minister S Jaishankar on Friday spoke to his Saudi counterpart Prince Faisal bin Farhan and they discussed the situation arising out of the Hamas-Israel conflict. The phone conversation came two days after Jaishankar discussed the crisis with Foreign Minister of the United Arab Emirates Sheikh Abdullah bin Zayed Al Nahyan. "Appreciated the conversation with Foreign Minister HH @FaisalbinFarhan of Saudi Arabia," the external affairs minister said on 'X'. "Discussed the grave situation in the Middle East," he said.

Iran Prez, Saudi Crown Prince hold 1st call since ties mended, discuss war

The leaders engaged in the discussion on Wednesday, emphasising "the need to end war crimes against Palestine," Iranian presidential political affairs aide

Crude oil falls after Saudi pledge, investors keep wary eye on Israel

Brent futures fell $2.10, or 2.4%, to $85.55 a barrel by 10:41 a.m. EDT (1441 GMT). U.S. West Texas Intermediate (WTI) crude fell $2.55, or 3.0%, to $83.42

Israel-Hamas conflict: Cloud over India-Middle East corridor project

The project was also believed to be one of the icebreakers in the relationship between the Kingdom of Saudi Arabia and Israel

Disrupting Saudi-Israel ties may have motivated Hamas attack, says Blinken

He added that there was not yet any evidence seen by the United States of Iran being behind the latest attack in Israel but he noted the long standing ties between Iran and Hamas, which governs Gaza

India, Saudi Arabia sign MoU on grid connection and green hydrogen

Singh urged the MENA countries to join the Global Biofuel Alliance to bolster international cooperation in sustainable biofuels and fully harness the potential of the Alliance

India confident of continuing discounts on Iraqi and Saudi crude oil

Share of imports from traditional middle eastern share has crept up even as Russian oil dominates

Saudi Arabia steps up sports drive, bids for FIFA World Cup in 2034

The kingdom "intends to deliver a world-class tournament and will draw inspiration from Saudi Arabia's ongoing social and economic transformation," according to state media

Crude prices beyond $100 per barrel to create large, organised chaos: Puri

Previously, Puri underscored the need for oil producers to demonstrate the same consideration for consumer nations as they had received during the pandemic

Crude oil falls $1 on demand fears, Saudi confirms cuts to year-end

Brent crude oil futures were down $1.58, or 1.74%, to $89.34 a barrel at 1045 GMT, while U.S. West Texas Intermediate crude (WTI) fell $1.60, or 1.79%, to $87.63 per barrel

Pak seeks $11 bn aid from China, Saudi to keep IMF programme on track

Cash-strapped Pakistan is seeking around USD 11 billion from China and Saudi Arabia as part of efforts to fill external and domestic resource gaps so that the IMF bailout programme remains on track to ensure economic stability until an elected government is formed in the country, according to a media report on Friday. It comes amid the caretaker government's push for expanding the tax net effectively to retail, agricultural and real estate sectors while continuing a crackdown on illegal currency movements. The Dawn newspaper reported that this information was part of a detailed policy statement issued by caretaker Finance Minister Shamshad Akhtar before the Senate Standing Committee on Finance and Revenue, presided over by Senator Saleem Mandviwalla in Islamabad on Thursday. She said the government was currently working on an economic revival plan that would be presented to the caretaker prime minister Anwar ul Haq Kakar soon and shared with the Senate Standing Committee on ...

Asian Games Highlights, Day 5: Gold in Shooting, IND 5th in medals tally

Asian Games 2023 Highlights, Day 5: India won gold, silver and bronze in Shooting, Wushu and Equestrian respectively to finish with a total of 25 medals and lie in the 5th place in the medals tally

Russia accuses US of promoting ties between Israel, Arabs before peace deal

Russia accused the United States on Wednesday of promoting Israel's normalisation of relations with Arab nations and circumventing the Arab Peace Initiative launched by Saudi Arabia in 2002, which calls for a settlement to the Israeli-Palestinian conflict before any diplomatic recognition of Israel. The statement by Russia's U.N. Ambassador Vassily Nebenzia at the U.N. Security Council's monthly meeting on the Mideast also implicitly criticised Saudi Arabia without naming it for moving toward establishing diplomatic relations with Israel while taking aggressive illegal actions including an unprecedented expansion of settlements on territory that is supposed to be part of an independent Palestinian state. Nebenzia said U.S. efforts to normalize Arab-Israeli relations at a time that the de facto international legal framework for an Israeli-Palestinian peace settlement is being dismantled not only circumvents the logic of the Arab Peace Initiative, but it stymies any prospects for ...

Asian Games football: India holds training session ahead of Saudi clash

Stimac earlier appreciated the Blue Tigers for qualifying to the round of 16 of the tournament even after completing their recovery sessions at a park in China