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☆ Cristiano Ronaldo in tears after losing King’s Cup final in penalty shootout
▼ + stars: | 2024-06-01 | by ( Issy Ronald | ) edition.cnn.com time to read: +1 min

CNN —Cristiano Ronaldo was left sobbing on the pitch after Al-Nassr lost the Saudi King’s Cup final in a penalty shootout to rival Al-Hilal on Friday. The agonizing defeat, after the penalty shootout finished 5-4, meant that Al-Nassr finished the season without a trophy, while Al-Hilal triumphed in three competitions – the Roshn Saudi League, the Saudi Super Cup and the Saudi King’s Cup. Al-Hilal played most of extra time with another man down after Kalidou Koulibaly was sent off for accumulating two yellow cards, but refused to concede another goal and the final ended in a dramatic penalty shootout. There, Ronaldo converted his penalty but could only watch on as Moroccan goalkeeper Yassine Bounou saved Al-Nassr’s last two penalties to give his team the victory. The defeat came after Ronaldo became the all-time top scorer in a single Saudi Pro League season earlier this week with 35 goals.

Persons: CNN — Cristiano Ronaldo, Nassr, Hilal, Ronaldo, hasn’t, Al Hilal, Aleksandar Mitrović’s, David Ospina, Ronaldo's, Stringer, Ali Al, Ayman Yahya, Kalidou Koulibaly, Yassine Bounou, Nassr’s Organizations: CNN, Saudi King’s, Al, Saudi League, Saudi Super, Reuters, Saudi Pro League Locations: Hilal, Al, Saudi Arabia

☆ Oil prices fall on fear of high U.S. interest rates depressing demand
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

Oil storage drums stacked in the Keihin industrial area of Kawasaki, Kanagawa Prefecture, Japan, on Monday, April 15, 2024. Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. "Fears of weaker demand led to selling as the prospect of Fed rate cut became more distant," said analyst Toshitaka Tazawa at Fujitomi Securities. Lower interest rates reduce borrowing costs, freeing up funds which could boost economic growth and demand for oil. OPEC+ could extend some voluntary output cuts if demand fails to pick up, people with knowledge of the matter previously told Reuters.

Persons: Toshitaka Tazawa, Philip Jefferson, Michael Barr, Raphael Bostic, Ebrahim Raisi, Ayatollah Ali Khamenei, Mohammed Bin Salman, Fujitomi's Tazawa Organizations: Brent, . West Texas, Federal, Fujitomi Securities, Atlanta Fed, Reuters, Saudi Arabia's Crown, Iranian, Investors, Organization of, Petroleum Locations: Kawasaki, Kanagawa Prefecture, Japan, Saudi, OPEC

☆ Some central banks have sold gold at record prices, cashing in on the global boom
▼ + stars: | 2024-05-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewCentral banks around the world have been snapping up gold, sending prices of the metal to record highs. The country's gold stash accounted for nearly three-quarters of its reserves as of March this year, according to WGC data. In 2022, Uzbekistan produced 110.8 tons of gold, making it the 10th top gold producer in the world, per WGC. Uzbekistan gold mining in March 2024. The country legalized private gold digging in 2019, and any gold found must be traded via its central bank.

Persons: —, it's, VYACHESLAV OSELEDKO, Shavkat Mirziyoyev Organizations: Service, Business, World Gold, Central Bank of, Uzbek, AFP Locations: China, Saudi, Central Bank of Uzbekistan, Thailand, Kazakhstan, Uzbekistan, Kazakh

☆ Saudi king to be treated for lung inflammation, state news agency says
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Photo: Oliver Weiken/dpa (Photo by Oliver Weiken/picture alliance via Getty Images)Saudi King Salman will undergo treatment at Al Salam Palace in Jeddah for a lung inflammation, the state news agency said on Sunday, hours after he underwent medical tests. Citing the royal court, the state news agency said the 88-year-old king would be treated with antibiotics until the inflammation subsides. Earlier on Sunday, King Salman underwent medical tests at the royal clinics at Al Salam Palace due to "high temperature and joint pain", the Saudi state news agency said. King Salman, the custodian of Islam's holiest sites, became ruler of the world's top oil exporter in 2015 after spending more than 2-1/2 years as the crown prince and deputy premier. Saudi Arabia's embassy in Japan did not immediately respond to a request for comment about the crown prince's cancelled trip.

Persons: Abdel Fattah el, Saudi King Salman bin Abdulaziz Al Saud, Jean, Claude Juncker, Oliver Weiken, Saudi King Salman, King, Prince Mohammed bin Salman, Yoshimasa Hayashi, King Salman of, Prince Mohammed's, Hayashi, King Salman, Jake Sullivan, Emperor Naruhito, Fumio Kishida Organizations: Arab League, European Union, of Arab, Getty Images, Al Salam, Saudi, Al, U.S . National Locations: Egypt, Sharm El, Saudi King, Sharm, Saudi, Jeddah, Japan, Saudi Arabia, King Salman of Saudi Arabia, Tokyo, Washington, Riyadh, Saudi Arabia's

☆ Muslims spot Ramadan crescent moon in Saudi Arabia, meaning month of fasting starts Monday for many
▼ + stars: | 2024-03-10 | by ( ) www.cnbc.com time to read: +5 min

Officials saw the crescent moon Sunday night in Saudi Arabia, home to the holiest sites in Islam, marking the start of the holy fasting month of Ramadan for many of the world's 1.8 billion Muslims. Saudi state television reported that authorities there saw the crescent moon. However, there are some Asia-Pacific countries like Australia, Brunei, Indonesia, Malaysia and Singapore, that will begin Ramadan on Tuesday after failing to see the crescent moon. In Saudi Arabia, the kingdom had been urging the public to watch the skies from Sunday night in preparation for the sighting of the crescent moon. The Palestinian territories will begin Ramadan on Monday as well.

Persons: Jordan, Saudi King Salman, Ayatollah Ali Khamenei, Ramadan, Robabeh, it's, Prophet Muhammad, Israel, Jerusalem's Organizations: Iran's, Hamas, Islamic Locations: Musyari'in, Jakarta, Indonesia, Saudi Arabia, Islam, Saudi, Iraq, Syria, Egypt, Asia, Pacific, Australia, Brunei, Malaysia, Singapore, Oman, Israel, Gaza, Palestine, Mecca, Iran, Tehran, Persian, Nowruz, U.S, Jerusalem's Al, Aqsa, Sudan

☆ U.S. and allies must 'persuade countries, not dictate to them,' former UK PM Gordon Brown says
▼ + stars: | 2024-01-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Former U.K. Prime Minister Gordon Brown said Wednesday that the U.S. and other powerful nations must "persuade countries, not dictate to them" in an increasingly multipolar world. Much of the conversation at this week's World Economic Forum in Davos, Switzerland, has focused on a breakdown of trust between populations and world leaders, and how to restore it. Allianz CEO Oliver Bäte told CNBC Tuesday that an "increasing detachment of the political elite from the working class" was the "number one risk for our societies." It's no longer neoliberal economics, it's more mercantilist economics, states doing their own thing, and protectionist trade policies have become 'in' and we've seen a retreat from globalization," Brown told CNBC on the sidelines of WEF. Brown told CNBC Wednesday that he still believes this should be the template for establishing lasting peace in the region, but that it is "incredibly difficult because nobody is trusting each other at the moment."

Persons: Gordon Brown, Oliver Bäte, Brown, Tony Blair, you've, we've, Netanyahu, Mahmoud Abbas, Ehud Olmert, Saudi King Abdullah bin Abdulaziz Al Saud Organizations: Economic, Allianz, CNBC Locations: Davos, Switzerland, WEF, America, Africa, Ukraine, Gaza, Israeli, Saudi, Israel, Palestinian

☆ Why ISIS has unleashed its suicide bombers against Iran
▼ + stars: | 2024-01-14 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +7 min

By the day's end of the day, scores of supporters of the rulers of Iran were dead, and hundreds were injured in a twin suicide bombing. AdvertisementHe was considered a hero, she said, by many in Iran for driving ISIS out of Iraq and helping to defeat them in Syria. Stringer/Anadolu via Getty ImagesIt was the latest in a string of attacks by the ISIS affiliate that has been targeting Iran for five years. The Iranian intelligence ministry sought to blame its old enemy Israel for the atrocity and said one of the bombers had Israeli citizenship, the Times of Israel reported. AdvertisementThey will continue to attempt attacks against Iran "no matter what," Washington Institute for Near East Policy expert, Aaron Zelin, told the VoA.

Persons: Qassem, —, Qassem Soleimani, Kerman, Barbara Slavin, Soleimani, Stringer, Khomeini's, Abdollah Tajiki, Slavin, It's, it's, White, John Kirby, Ayatollah Ali Khamenei, Saudi King Salman, Prophet Mohammed, Salvin, Donald Trump, Aaron Zelin Organizations: Sunni, Service, Revolutionary, Reuters, The Stimson Center, Iran Initiative, Asia Center, ISIS, Anadolu, Getty, Iranian, Ministry of Intelligence, Revolutionary Guard, Saudi, US, UK, Red, Quds Force, The Stimson, Washington Institute for Near East, VoA Locations: Kerman, Iran, Iraq, Syria, Afghanistan, Asia, Kerman City, Tehran, Tajik, Israel, Saudi Arabia, Hormuz, Soleimani, Iranian, Fars, Republic, Yemen, Iran's, United States, al Qaeda, American

☆ The Israel-Hamas war threatens to derail Middle Eastern investment in US media and entertainment
▼ + stars: | 2023-11-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Still, the US presence highlighted the deepening ties between Hollywood and the region , as Western media, entertainment, and sports entities have seen major investment in recent years from Saudi, Qatar, and the UAE. Even before October 7, US entities that were receiving investment from the Middle East were reluctant to speak publicly about those relationships. Insider spoke with investors, producers, and other media and entertainment stakeholders about what's next for Hollywood's relationships with Mideast backers. Qatar hasn't seen any recent major deals but earlier this year, Peter Chernin and Providence Equity's production roll-up The North Road received $150 million from the Qatar Investment Authority. "The political nature gets more complicated," an industry insider observer said, noting how countries like Qatar are grabbing headlines for their role in the situation.

Persons: haven't, Jamal Khashoggi, Israel, it's, Knaebel, They're, Greg Silverman's, Silverman, Harry Potter, Chris Nolan's, Abu Dhabi's, Ari Emanuel, Peter Chernin, Jeff Zucker, LIV Golf Organizations: Film, Washington Post, Hollywood, Global Media, Saudi, Stampede Ventures, Warner Bros, Endeavor, Qatar hasn't, Providence, North, Qatar Investment Authority, IMI, CNN, Investment Fund, PGA Locations: Saudi Arabia, American, Jeddah, Saudi, Qatar, UAE, Gaza, Israel, Germany, Silver

☆ Opinion: The Hamas attacks could prevent a diplomatic breakthrough
▼ + stars: | 2023-10-07 | by ( Peter Bergen | ) edition.cnn.com time to read: +5 min

In the past, Israel has exchanged large numbers of Palestinian prisoners for Israelis held by Hamas. Indeed the Abraham Accords did not do much of anything for the Palestinians. Also, both Israel and Saudi Arabia have a strong common interest today, both seeing Iran as their most dangerous enemy. Iran has also provided support to Hamas, according to the US State Department, in a 2020 report on terrorism. They are betting on a losing horse.”And on Saturday, Khamenei’s top military adviser said that Iran supported Hamas attacks in Israel “until the liberation of Palestine and Jerusalem.”

Persons: Peter Bergen, ”, Abraham, Donald Trump’s, Jared Kushner, Kushner, Trump, Biden, Islam —, Prince Mohammed bin Salman, King Salman, Ayatollah Ali Khamenei, Israel “ Organizations: New, Arizona State University, Apple, Spotify, CNN, Trump Administration, Abraham Accords, United Arab, Israel, Trump, Saudi, MBS, Fox News, US State Department, Iranian Locations: New America, Gaza, Israel, United Arab Emirates, Bahrain, Morocco, Sudan, Tel Aviv, Jerusalem, East Jerusalem, Saudi Arabia, Saudi, Israeli, Islam, Kippur, Egypt, Syria, Iran, Palestine

☆ Saudi Arabia's auto rental firm Lumi pops 30% in stock market debut
▼ + stars: | 2023-09-25 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

Shares of Lumi soared as much as 30% on Monday at the Saudi Arabian auto rental firm debuted on the Riyadh stock exchange in a 1.09 billion riyal ($290 million) initial public offering. A unit of Saudi travel company Seera, Lumi listed 30% of its shares on the Saudi Tadawul exchange at an initial price of 66 riyals, at the top of their range. Prices shortly after rose to as high as 85.8 riyals per share. According to its IPO prospectus, Lumi is the third-largest car rental provider in the Saudi kingdom, capturing an estimated local market share of 7% in 2021. The company received more than $27 billion in bids from retail and institutional investors during its listing, according to Bloomberg, with the funds portion oversubscribed by nearly 95 times.

Persons: Lumi Organizations: Saudi, Bloomberg Locations: Saudi, Riyadh

The remarks signal that his group might not get on board for a solution without inclusion of a separate state's creation. Earlier this year, the head of the country’s internationally recognized government brushed aside the issue. In response, the Saudi-led coalition intervened in 2015 to try to restore the internationally recognized government to power. The conflict has become enmeshed in a wider regional proxy war the Saudi kingdom faced against longtime regional rival Iran. “I am in New York and meters away from the headquarters of the United Nations, and we are only asking for what is stated, under the laws the United Nations made and on which it was founded,” he said.

Persons: Aidarous, Zubaidi, —, ”, “ Organizations: UNITED NATIONS, Yemen’s, Transitional Council, Associated Press, General Assembly, United Arab, Al, United Nations Locations: Riyadh, Saudi Arabia, Aden, Sanaa, Saudi, Iran, United Arab Emirates, UAE, New York

LONDON, Sept 21 (Reuters Breakingviews) - Barely a day goes by without an eye-catching story involving Saudi Arabia’s Public Investment Fund. A third of the fund consists of significant stakes in domestic companies like the $51 billion Saudi Telecom Company (7010.SE) and $53 billion Saudi National Bank (1180.SE). Reuters Graphics Reuters GraphicsThe PIF’s investment strategy is also racier than its more conservative peers. But the episode reinforces the impression that the PIF is a mix of venture capital, hedge fund and startup money. The most spectacular was probably handing $45 billion to SoftBank Group (9984.T) boss Masayoshi Son for his $100 billion first Vision Fund.

Persons: Kylian Mbappé, It’s, Prince Mohammed bin Salman, Yasir Al, Abu Dhabi’s Mubadala, Rumayyan, Salman bin Abdulaziz, Masayoshi Son, SWFs, Taiwan’s Foxconn, Peter Thal Larsen, Streisand Neto Organizations: Reuters, Saudi Arabia’s Public Investment Fund, Standard Chartered, Spanish telco Telefonica, Fund, Abu, Abu Dhabi Investment Authority, Global, Reuters Graphics Reuters, Saudi, Saudi Telecom Company, Saudi National Bank, Saudi Aramco, giga, Qatar Investment Authority, Singapore’s Temasek, Al, MbS, SoftBank Group, Vision, Credit Suisse, UBS, Saudi giga, Aramco, Investment, Thomson Locations: Spanish, Abu Dhabi, Riyadh, Saudi

☆ China's Huawei opens cloud data centre in Saudi Arabia in regional push
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

"The implementation of Huawei cloud is not just about us, but is a bridge that will bring other Chinese companies to Saudi Arabia," said Steven Yi, the company's regional president. The step would contribute to the development of the country's digital economy, he said, adding that Huawei opened its regional headquarters in the Saudi capital this year. Saudi Arabia has previously said it would not sign contracts with foreign companies that did not have regional headquarters in the kingdom after this year. Huawei ranked fifth in the global cloud services market in the first quarter, with a market share of 2.4%, although it was the second-largest vendor in mainland China, according to research consultancy Canalys. In February Huawei said it would invest $400 million in the Saudi Arabia cloud region over the next five years.

Persons: Eric Gaillard, Steven Yi, David Kirton, Mo Yelin, Clarence Fernandez Organizations: Huawei, Artificial Intelligence Cannes, REUTERS, Rights, Huawei Technologies, Thomson Locations: Cannes, France, Rights SHENZHEN, China, Saudi, Riyadh, East, North Africa, Huawei's, Saudi Arabia, Shenzhen, Mo, Beijing

☆ Saudi soccer league lures Brazilian star Neymar as it seeks to attract 'exceptional players only'
▼ + stars: | 2023-08-14 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Saudi Arabia also recruited soccer legends Cristiano Ronaldo and Karim Benzema with contracts worth hundreds of millions of dollars, and it's expected to bid to host the 2030 World Cup. Portuguese football star Cristiano Ronaldo poses for a photo with the jersey after signing with Saudi Arabia's Al-Nassr Football Club in Riyadh, Saudi Arabia on December 30, 2022. Sports analysts are doubtful that Saudi Arabia will see its ambitions to have a top soccer league realized, even with all the money it can offer to top-tier players. Charles Laberge | LIV Golf | Getty ImagesOther criticism comes from an attitude among many that a Saudi league could never be a serious arena for athletes. Emenalo, himself a former defender for Nigeria's national soccer team and former technical director at English club team Chelsea, called the criticisms "outrageous."

Persons: Kylian Mbappe, Neymar Jr, Jean Catuffe, Neymar, Germain, Cristiano Ronaldo, Karim Benzema, Kalidou, Lyon's Moussa Dembele, Michael Emenalo, Saudi Arabia's, Al, Hilal, Kylian Mbappé, LIV, shockwaves, Saudi Crown Prince Mohammed bin Salman, Captain Brooks Koepka, Ricky Elliott, Charles Laberge, LIV Golf, Emenalo, it's, Khalid Al, Falih, that's Organizations: PSG, UEFA Champions League, Celtic Glasgow, Paris Saint Germain, Celtic Park, Getty, Getty Images, Saudi, Al, Paris Saint, Brazil national, L'Equipe, Manchester, Saudi Pro League, Nassr Football Club, Al Nassr Football, Anadolu Agency, France national, Sports, American PGA Tour, Saudi Crown, CNBC, Royal Greens, & Country Club, King Abdullah Economic, Nigeria's, soccer team, Chelsea, Saudi League, Guardian, Saudi Investment, Public Investment Fund Locations: Getty Images Saudi Arabia, Hilal, Barcelona, Saudi, Saudi Arabia, Riyadh, Europe, Jeddah, King Abdullah, King Abdullah Economic City

☆ Saudi Arabia and Turkey are emerging as the new peace brokers of the Russia-Ukraine war
▼ + stars: | 2023-08-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +7 min

Turkish President Recep Tayyip Erdogan welcomes Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud in Ankara, Turkey, on June 22, 2022. "We thank the Crown Prince and Government of Saudi Arabia for facilitating [the prisoner exchange]," Sullivan wrote in a separate post. "Saudi Arabia and Turkey are good examples of such mid-level powers now helping shape international realities in a way they rarely did during the Cold War." And Turkey, like Saudi Arabia, refuses to partake in sanctions against Russia, irking its Western allies. Saudi Arabian Crown Prince Mohammed bin Salman (R) meets Ukrainian President Volodymyr Zelenskyy (L) in Jeddah, Saudi Arabia on May 19, 2023.

Persons: Recep Tayyip Erdogan, Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud, Mustafa Kaya, Russian –, Vladimir Putin, –, Recep Tayyip Erdogan of, Crown Prince Mohammed bin Salman, Volodymyr Zelenskyy, Jake Sullivan, Putin, Sullivan, Hussein Ibish, Russia's Putin, Vilius Semeska, Selcuk Bayraktar, Haluk Bayraktar, Ibish, Saudi Arabia's Crown Prince Mohammed bin Salman, Saudi Arabian Crown Prince Mohammed bin Salman, Erdogan, Mohammed bin Salman, Ryan Bohl, Rane, Ayham Kamel Organizations: Saudi Arabia's Crown, Getty, Crown, Russia, Handout, Anadolu Agency, Twitter, Ukraine –, Prince, Saudi, Gulf States Institute, CNBC, NATO, Defence, Baykar, Saudi Arabian Crown, Saudi Foreign Ministry, Getty Images, Ukrainian, Arab, Russo, East, Global, Eurasia Group Locations: Ankara, Turkey, Xinhua, Russian, Russia, Recep Tayyip Erdogan of Turkey, Saudi Arabia, Kyiv, Ukraine, Ukrainian, Saudi, Jeddah, U.S, China, India, Brazil, Washington, Turkey's, Lithuanian, Istanbul, Turkish, , Washington, North Africa, Riyadh, Middle East

☆ Saudi Arabia urges improved maritime security in Gulf as ties with Iran resume
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +2 min

June 17 (Reuters) - Saudi Arabia wants enhanced maritime security in the crucial Gulf region as part of its rapprochement with long-time rival Iran, Foreign Minister Prince Faisal bin Farhan said on Saturday. The kingdom broke ties with Iran in 2016 after protesters attacked the Saudi embassy in Tehran in retaliation for Riyadh's execution of a prominent Shiite cleric. Iran has recently been trying to mend its strained ties with several Gulf Arab states. Saudi Arabia's rapprochement with Iran has left Israel largely alone as it has sought to isolate Iran diplomatically. The United Arab Emirates, which was the first Gulf Arab country to sign a normalisation agreement with Israel in 2020, resumed formal relations with Iran last year.

Persons: Prince Faisal bin Farhan, Prince Faisal, Hossein Amirabdollahian, Ebrahim Raisi, Amirabdollahian, Hatem Maher, Aziz El Yaakoubi, Mark Heinrich, Louise Heavens, Mike Harrison Organizations: Foreign, United, United Arab Emirates, Israel, Thomson Locations: Saudi Arabia, Iran, China, Gulf, Yemen, Syria, Lebanon, Tehran, Saudi, Hormuz, United States, Israel, United Arab, Arab, Bahrain, Morocco, UAE, Cairo, Riyadh, Dubai

Brokering a reconciliation deal between Palestinian factions is a longer-term goal for Saudi Crown Prince Mohammad Bin Salman, Saudi officials say. Senior Saudi officials were planning to meet with leaders of the Palestinian militant and political group Hamas on Sunday to discuss renewing diplomatic ties which have been cool since 2007, part of a diplomacy spree led by Crown Prince Mohammad Bin Salman that has seen Riyadh move closer to Iran. Re-establishing ties between Iran-backed Hamas, which is a U.S. designated terrorist group, and the Saudi kingdom would mark a setback for efforts by the U.S. and Israel to establish a military alliance between Israel and other Sunni-majority countries against Iran and its allies. They also complicate Israeli Prime Minister Benjamin Netanyahu ’s goal of normalizing relations with Riyadh, with opposition to Iran as their primary shared interest.

☆ Saudi money is flowing to US media and entertainment, from Live Nation to LIV Golf, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'
▼ + stars: | 2023-04-03 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +20 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Insider identified some key people connecting Middle East investors with American companies. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Vince McMahon's WWE has a long-term partnership with the Kingdom of Saudi Arabia, with a major live WWE event there slated for May. Vince McMahon's WWE was one of the first US companies to create unique events in Saudi Arabia.

DUBAI—Iran has agreed to halt covert weapons shipments to its Houthi allies in Yemen as part of a China-brokered deal to re-establish diplomatic relations with Saudi Arabia, U.S. and Saudi officials said, a move that could inject new momentum into efforts to end one of the region’s longest-running civil wars. For years, Saudi Arabia and Iran have backed opposing sides in the Yemen conflict, fueling a war that has had disastrous humanitarian consequences and spilled beyond the country’s borders as Houthi forces have launched missile and drone attacks on the Saudi kingdom.

☆ Saudi money is pouring into Hollywood and media, 5 years after the murder of Jamal Khashoggi. Here's who's cashing in and how.
▼ + stars: | 2023-03-15 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +13 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Even those media players that are comfortable with invetment from the Middle East may not find funds flowing, one Hollywood veteran said. A major live WWE event in Saudi Arabia is slated for May. Of the growing ties between US entertainment and media and Middle East investors, this person added, "Presumably media organizations got into this to help society make better decisions."

☆ Saudi Arabia could start investing in Iran 'very quickly,' finance minister Mohammed Al-Jadaan says
▼ + stars: | 2023-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

watch nowSaudi Arabia may soon be investing in its longtime regional foe Iran following a breakthrough agreement reached between the two countries to re-establish diplomatic relations, the kingdom's Finance Minister Mohammed Al-Jadaan said Wednesday. Asked by CNBC's Hadley Gamble in Riyadh how soon the world might see the wealthy Saudi kingdom making significant investments into Iran and vice versa, Al-Jadaan replied: "I would say very quickly." "When people really stick to the principles of what was agreed, I think that that could happen very quickly. Some regional analysts and Western policymakers are skeptical as to whether the countries — Iran in particular — will stick to the pledges, which has yet to be seen. Still, the Saudi finance minister appeared optimistic.

☆ Brazil audit court orders Bolsonaro to return Saudi jewelry gift
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, March 15 (Reuters) - Brazil's federal audit court (TCU) on Wednesday ruled that former President Jair Bolsonaro must deliver within five days a second set of jewelry he received from the Saudi government. On Monday, Bolsonaro's lawyer said in a letter to the police that the former president will deliver the second gift to the state as part of its collection of presidential gifts. Several officials from the Bolsonaro administration unsuccessfully tried to recover the jewelry -- a diamond necklace, ring, watch and earrings -- that was being held by customs, according to local media. Bolsonaro, who is still in self-exile in the United States, will be called to testify as part of the investigation, Brazilian Justice Minister Flavio Dino said on Monday. Reporting by Ricardo Brito; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Arch-rivals Iran and Saudi Arabia agree to revive ties, reopen embassies in China-brokered deal
▼ + stars: | 2023-03-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

"As a result of the talks, Iran and Saudi Arabia agreed to resume diplomatic relations and re-open embassies ...within two months," Iran's news agency IRNA reported Friday. Saudi Arabia's state Saudi Press Agency confirmed the announcement in its own statement. The Saudi statement profusely thanked Beijing for its leadership in the talks. The Saudi statement also expressed thanks to Riyadh's neighbors Iraq and Oman, which it said had hosted "rounds of dialogue that took place between both sides during the years 2021-2022." Saudi Arabia cut diplomatic ties with Iran in 2016, after Iranian protesters stormed the Saudi embassy in Tehran in response to Saudi authorities executing 47 dissidents, including a leading Shia cleric.

☆ Saudi Arabia can 'bridge the gap' between the U.S. and China, finance minister says
▼ + stars: | 2023-01-16 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

watch nowSaudi Arabia can help be a conduit between the U.S. and China at a time of heightened geopolitical tensions, Saudi Finance Minister Mohammed al-Jadaan said Monday at the World Economic Forum in Davos, Switzerland. "I really think that we need to focus on collaboration, cooperation, avoiding more geopolitical tensions, and calling for calm and political solutions to geopolitical tensions," al-Jadaan told CNBC's Hadley Gamble. Mohammed Al-Jadaan, Saudi Arabia's finance minister, at the World Economic Forum in Davos, Switzerland Jason Alden | Bloomberg | Getty ImagesAsked about Saudi Arabia's ability to facilitate dialogue between adversarial powers like the U.S. and China, al-Jadaan said: "I would say absolutely yes. We have a very strategic relationship with the U.S., and we have a close relationship with China, and we think we can bridge the gap." The U.S. has military installments in Saudi Arabia, selling advanced weaponry and providing training and joint operations with the Saudi military.

☆ Saudi Arabia and China will align on everything from security to oil, but agree not to interfere on domestic issues
▼ + stars: | 2022-12-09 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

Riyadh and Beijing were keen to stress “the importance of stability in the world oil markets,” noting that Saudi Arabia is a reliable exporter of crude oil to its Chinese partner. China also affirmed its “opposition to any actions that would interfere in the internal affairs of the Kingdom of Saudi Arabia,” without adding more details. On Friday, Xi invited Saudi King Salman bin Abdulaziz Al-Saud to visit China, according to Saudi state TV. President Xi was given a warm welcome in Saudi Arabia with ceremonies on Thursday. Saudi Arabia “is pursuing a multipolar strategy of strong strategic ties,” added Shihabi.

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