Page 9 - Saudi Arabia

Govt likely to exempt Saudi fund from foreign portfolio investment rules

The exemption granted to the fund will allow its various arms to invest separately, enhancing their flexibility in deploying capital into Indian equity markets without breaching regulatory thresholds

Saudi Arabia denies plans to lift alcohol ban ahead of 2034 World Cup

A Saudi official has rejected media reports claiming the kingdom plans to allow controlled alcohol sales, reaffirming strict Islamic laws remain in place

Saudi Arabia unveils 'TOURISE' platform to chart future roadmap for tourism

Saudi Arabia on Thursday announced the launch of a global platform which seeks to create a "powerful partnership" between public and private sectors and chart a future roadmap for tourism. Saudi Arabia's Minister of Tourism Ahmed Al-Khateeb launched the platform, 'TOURISE', and also announced that the TOURISE Summit will be held in Riyadh from November 11 to 13. The announcement was made in the Saudi capital during a press conference that was attended virtually by a large number of journalists from around the world. TOURISE is a "bold new initiative", structured for year-round impact through collaboration, and will be anchored with a high-profile global advisory board. In his address, the Saudi minister said the platform seeks to chart the course for tourism for the next 50 years. It will bring public and private sectors together. He said this initiative is "no ordinary endeavour". Saudi Arabia seeks to deliver practical, visible and permanent solutions, and this initiative will

World's first AI medical clinic opens in Saudi Arabia with Dr Hua system

Tencent-backed Synyi AI opens a clinic in Saudi Arabia where patients are diagnosed by AI and treatment plans are reviewed by human doctors for safety

Trump's West Asia tour: Royal welcomes, big business deals - key Takeaways

In a striking departure from the past US presidents, Trump opted for silence on human rights concerns while being lavishly hosted by Gulf autocrats

Trump wraps up Mideast tour with business talks, interfaith site visit

President Donald Trump President Donald Trump wraps up a Mideast tour in the United Arab Emirates with a breakfast for business leaders and a visit to an interfaith place of worship named for the Abraham Accords he negotiated. As part of the accords, the UAE and some other countries in the Middle East recognised Israel. Trump departs Abu Dhabi after his visit to the Abrahamic Family House . During his visit to the region, violence flared in the West Bank, with more than 120 people being killed in Gaza. Here's the latest: Trump to visit Abrahamic House on last day of his Mideast trip President Donald Trump will make several stops before taking off on Air Force One to end his Mideast trip on Friday. He'll attend a business summit in the morning in Abu Dhabi, the capital of the United Arab Emirates. Trump later will visit the Abrahamic Family House in Abu Dhabi. It is home to a mosque, a church and a synagogue. The UAE built it after diplomatically recognizing Israel in an agreemen

Saudi Crown Prince hopes 'ceasefire' will restore calm between Pak, India

Saudi Arabia's Crown Prince Mohammed bin Salman on Wednesday welcomed the "ceasefire" agreement between Pakistan and India, expressing hope that it will restore calm between the two neighbours. Prince Mohammed made the remarks while delivering a speech during a meeting of leaders from the Gulf Cooperation Council (GCC) and US President Donald Trump in the Saudi capital Riyadh. "We welcome the ceasefire agreement between Pakistan and India," he was quoted as saying by the state-owned Saudi Press Agency. The powerful prince hoped that this would "contribute to containing the escalation and restoring calm between the two countries." India carried out precision strikes under 'Operation Sindoor' on terror infrastructure early on May 7 in response to the April 22 Pahalgam terror attack that killed 26 people. Following the Indian action, Pakistan attempted to attack Indian military bases on May 8, 9 and 10. The Indian armed forces launched a fierce counter-attack on several Pakistani ...

US signs record $142 billion arms deal with Saudi Arabia for defence

CEOs from RTX Corp Boeing Co, Northrop Grumman Corp were expected to be in the kingdom, but the White House did not verify any specific equipment or makers as a part of the potential sale to Saudi

Trump-Saudi Arabia historic $142 billion arms deal: Key takeaways | Riyadh | World news

US President Donald Trump’s first stop in Saudi Arabia during his Middle East visit is already making global headlines. Watch the video for the key takeaways.

Donald Trump wants to make a deal with Iran: Here are his conditions

US President Donald Trump warns Iran against pursuing nuclear weapons, says any deal depends on Tehran halting terrorism, proxy wars, and complying with strict verification measures

Jailed over a tweet? British banker faces 10 years in Saudi Arabia prison

British banker Ahmed al-Doush sentenced to prison in Saudi Arabia over a since-deleted 2018 tweet, as rights groups slam trial process and family pleads for UK government intervention

Musk eyes to launch robotaxi in Saudi Arabia, where Uber leads the race

Tesla CEO Elon Musk's interest in launching robotaxis in Saudi Arabia comes at a time when the Kingdom's transport authority has already signed MoU with Uber to roll out self-driving cars by 2025

In Donald Trump's world, aircraft are key to unlocking political favours

The US president is a noted aviation buff - branding his personal Boeing 757 "Trump Force One" and seeking to acquire a Qatari luxury jet to serve as a the new presidential aircraft

Golden swords, Arabian horses: Trump gets a royal welcome in Saudi Arabia

The fist bump seems so long ago. Three years after Joe Biden's cursory greeting with Crown Prince Mohammed bin Salman, Donald Trump luxuriated in an extravagant royal welcome as he arrived in Saudi Arabia on Tuesday. Concerns about human rights and fossil fuels in the oil-rich autocracy were nowhere on the agenda. Instead the day was all about cutting deals and celebrating a personal relationship that has endured through scandal and political turmoil. I really believe we like each other a lot, Trump said as they sat on golden chairs under elaborate chandeliers in the royal palace. During a speech later in the day, the president described Prince Mohammed as an incredible man" and my friend. The feeling was clearly mutual. The crown prince addressed his guest as my dear President Trump," and the Saudis played his campaign anthems God Bless the U.S.A. and YMCA during his appearance at an investment forum. For the U.S. Republican president, the visit was a return to the internation

Donald Trump again claims credit for peace between India, Pakistan

''There were conversations between Indian and US leaders on the evolving military situation. The issue of trade did not come up in any of these conversations.'', said Jaiswal .

Trump secures $600 bn Saudi Arabia investment pledge on West Asia tour

Trump, who was accompanied by U.S. business leaders including billionaire Elon Musk, will go on from Riyadh to Qatar on Wednesday and the United Arab Emirates on Thursday

Saudi crown prince welcomes Trump as he begins four-day Mideast tour

Crown Prince Mohammed bin Salman welcomed President Donald Trump to Saudi Arabia on Tuesday as the US leader began a four-day Middle East tour. Trump, as he did in his first term, is paying an early visit to the kingdom after the crown prince promised to pump hundreds of billions of dollars in new investments in the United States. The US administration said it intended to use the trip to launch economic agreements with the Saudis as well as the governments of Qatar and United Arab Emirates later this week. But behind closed doors, the leaders of all three countries are aiming to get a bead on US efforts to dismantle Iran's nuclear programme, end the war in Gaza, hold down oil prices and more.

Trump is visiting 3 Gulf nations where his company just made new deals

US President Donald Trump is scheduled to start his Gulf tour on Tuesday with stops in Saudi Arabia, Qatar and the UAE - all countries where the Trump Organisation is expanding its business

Trump starts his Mideast trip with visit to Saudi amid crush of problems

President Donald Trump is opening his four-day Mideast trip on Tuesday by paying a visit to Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, for talks on US efforts to dismantle Iran's nuclear programme, end the war in Gaza, hold down oil prices and more. The crown prince will fete Trump with a formal dinner and host a gathering of members of the Gulf Cooperation Council, which is made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Saudi Arabia and fellow OPEC+ nations have already helped their cause with Trump early in his second term by stepping up oil production. Trump sees cheap energy as a key component to lowering costs and stemming inflation for Americans. The president has also made the case that lower oil prices will hasten an end to Russia's war on Ukraine. But Saudi Arabia's economy remains heavily dependent on oil, and the kingdom needs a fiscal break-even oil price of $96 to $98 a barrel to balance its budget. It's ...

Aramco reports $26 bn profit in Q1, down 4.6% on lower oil prices

Saudi Arabia's state-owned oil giant Aramco posted first-quarter profits of $26 billion on Sunday, down 4.6% from the prior year. Aramco, formally known as the Saudi Arabian Oil Co, had revenues of $108.1 billion over the quarter, the company reported in a filing on Riyadh's Tadawul stock exchange. The company saw $107.2 billion in revenues and profits of $27.2 billion the same quarter last year. Aramco's stock traded over $6 a share Thursday, down from a high of around $8 last year. It has dropped over the past year as oil prices have dipped, and in recent months, as the OPEC+ oil cartel announced restoring production more rapidly and as uncertainty driven by US tariffs has rippled through Middle Eastern markets. Benchmark Brent crude traded Friday at over $63 a barrel, down from highs of over $80 in the last year.