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PEBBLE BEACH, Calif. (AP) — The PGA Tour is getting a $3 billion investment from Strategic Sports Group in a deal that would give players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises. PGA Tour Commissioner Jay Monahan was holding a conference call with players about the deal that was finalized Tuesday night. Political Cartoons View All 253 Images“By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour,” Monahan, who will be CEO of PGA Tour Enterprises, said in the formal announcement. While specific details of the equity ownership program were not announced, the initial grants would be based on career accomplishments, recent achievements and PGA Tour status. The European tour was part of the framework agreement on June 6, and it has a strategic alliance with the PGA Tour.

Persons: LIV Golf, Jay Monahan, ” Monahan, Marc Attanasio, Arthur Blank, Steven Cohen, Wyc Grousbeck, Tom Werner, John Henry, Marc Lasry, Alec Scheiner, ”, Henry, Woods, Patrick Cantlay, Adam Scott, Jordan Spieth, Webb Simpson, Peter Malnati, Yasir Al, Sen, Richard Blumenthal, Conn, LIV, Dustin Johnson, Brooks Koepka, Phil Mickelson, Bryson DeChambeau, PIF, Jon Rahm, Tyrrell Hatton, ___ Organizations: Strategic Sports Group, Tour Enterprises, PGA Tour, SSG, Associated Press, Washington Post, Public Investment Fund, PGA, SSG —, Tour, Fenway Sports Group, Milwaukee Brewers, Atlanta Falcons, New York Mets, Boston Celtics, Boston Red Sox, Milwaukee Bucks, Cleveland Browns, RedBird, Fenway Sports, PGA Tour Enterprises, Saudi, Monday, PIF Locations: Calif, Saudi, Saudi Arabia, PIF, Mexico

☆ Asia's first ETF tracking Saudi equities debuts in Hong Kong
▼ + stars: | 2023-11-29 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

Bull statues in front of screens showing Hong Kong stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsHONG KONG, Nov 29 (Reuters) - A new exchange-traded fund (ETF) tracking Saudi equities made its trading debut in Hong Kong on Wednesday, becoming the first product of its kind in Asia amid warming bilateral relations between China and Saudi Arabia. The ETF, called CSOP Saudi Arabia ETF (2830.HK), is managed by Hong Kong-based CSOP Asset Management. "Today is a milestone in our financial cooperation with Saudi Arabia," said Hong Kong Financial Secretary Paul Chan at a launch event. Through the ETF, investors in Hong Kong will be able to trade Saudi stocks including the oil giant Saudi Aramco (2222.SE) and the Saudi National Bank (1180.SE) in Hong Kong dollars or Chinese yuan.

Persons: Tyrone Siu, CSOP, Paul Chan, Yazeed, Humied, PIF, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Saudi, Saudi Arabia ETF, HK, Management, Public Investment Fund, Hong, Hong Kong Financial, FTSE, Saudi Aramco, Saudi National Bank, Reuters, Hong Kong Stock Exchange, bourse, ETF, People's Bank of China, Saudi Central Bank, Thomson Locations: Hong Kong, Exchange, China, HONG KONG, Asia, Saudi Arabia, Saudi, FTSE Saudi Arabia, Europe, East, Africa, Beijing, Riyadh

☆ Most Gulf markets gain on rising oil prices
▼ + stars: | 2023-11-19 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

REUTERS/Christopher Pike Acquire Licensing RightsNov 19 (Reuters) - Most stock markets in the Gulf ended higher on Sunday in response to Friday's rise in oil prices, with the Saudi index rising for a fourth consecutive session. Oil prices - often a catalyst for the Gulf's financial market - jumped more than 4% on Friday, rebounding from a 4-month low, with U.S. sanctions on some Russian oil shippers lending support. Saudi Arabia's benchmark index (.TASI) gained 0.5%, with oil giant Saudi Aramco (2222.SE) gaining 0.3% and the country's biggest lender Saudi National Bank (1180.SE) advancing 1.5%. In Qatar, the index (.QSI) closed 0.2% higher, helped by a 1% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.1%, buoyed by a 3.8% jump in Commercial International Bank (CIB) (COMI.CA).

Persons: Joe Biden, Christopher Pike, Kristalina Georgieva, Ateeq, Alex Richardson Organizations: Dubai Financial, United Arab Emirates, REUTERS, Saudi, Saudi Aramco, Saudi National Bank, Qatar National Bank, Gulf Cooperation Council, U.S . Federal Reserve, International Bank, CIB, Egypt's, European Bank for Reconstruction, Monetary Fund, Reuters, Thomson Locations: Dubai, United Arab, Saudi, Qatar, Israel, Ateeq Shariff, Bengaluru

☆ Saudi Arabia is serious about its Jan. 1 deadline for companies to move regional headquarters to Riyadh — or lose out on government contracts
▼ + stars: | 2023-10-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

The Saudi National Bank headquarters and other buildings in Riyadh. Bloomberg | Bloomberg | Getty ImagesRIYADH — Saudi Arabia is holding on to its ultimatum that foreign companies will need to base their regional headquarters in the kingdom or be barred from lucrative government contracts. In a bold surprise move back in February 2021, the Saudi government announced that it would, by 2024, cease doing business with any international companies whose regional headquarters were not based within the country. The news stunned investors and expat workers, many of whom saw the move as a shot at Dubai, the United Arab Emirates commercial capital that is home to the highest concentration of Middle East regional headquarters. Faisal Al Ibrahim, Saudi minister of economy and planning, told CNBC that the plan is still going ahead and discussed how the kingdom aims to support foreign companies with the change.

Persons: Faisal Al Ibrahim, CNBC's Dan Murphy, Al Ibrahim, that's, Prince Mohammed bin Salman, Saudi Arabia — Organizations: Saudi National Bank, Riyadh . Bloomberg, Bloomberg, Getty, United Arab Emirates, East, CNBC, Future Investment Initiative, Saudi Arabia's Public Investment Fund Locations: Riyadh ., RIYADH, Saudi Arabia, Saudi, Dubai, Riyadh

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

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

☆ Saudi crown prince says he will keep 'sportswashing' as criticism of the practice grows
▼ + stars: | 2023-09-21 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

Call it whatever you want, we're going to get that one and a half percent," the crown prince said. The Saudi Public Investment Fund (PIF), an entity controlled by Crown Prince Mohammed, has backed Saudi soccer clubs and LIV Golf. The LIV Golf merger with the PGA Tour has faced widespread scrutiny. Key U.S. lawmakers have criticized the pending golf merger as an attempt by the kingdom to distract from its human rights record. Prior to the deal, LIV Golf sued the PGA Tour for alleged anticompetitive practices, which prompted the PGA Tour to countersue, saying LIV Golf was stifling competition.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Prince Mohammed bin Salman, sportswashing, I'm, Critics, Jamal Khashoggi, Cristiano Ronaldo, Dustin Johnson, Bryson DeChambeau, LIV Golf, Crown Prince Mohammed, LIV, Osama bin Laden, It's, Sen, Richard Blumenthal, Conn, Jimmy Dunne, Ron Price, Price, Benjamin Freeman, — CNBC's Lillian Rizzo, Chelsey Cox Organizations: Saudi, Saudi Arabian Crown, Partnership, Global Infrastructure, Fox News, Washington Post, Neymar, PGA Tour, Saudi Public Investment Fund, Crown, Reuters, PGA, Key U.S, Homeland Security, Governmental Affairs, Tour, Quincy Institute, Responsible Locations: Saudi Arabian, New Delhi, India, Saudi, Europe, Saudi Arabia, Key, Yemen

☆ Saudi PIF-backed ADES prices IPO at top end, implying over $4 bln valuation
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Sept 20 (Reuters) - Saudi oil and gas driller ADES Holding said on Wednesday it has set the final price for its initial public offering (IPO), implying a valuation of 15.242 billion riyals ($4.06 billion) for the Saudi sovereign wealth fund-backed firm. ADES confirmed the pricing for the IPO, saying it drew nearly $76.5 billion in orders from institutional investors. Its clients include state oil giant Saudi Aramco, Kuwait Oil Company and North Oil Company in Qatar. The four banks are also bookrunners and underwriters, joined by GIB Capital, HSBC, Al Rajhi Capital and Saudi Fransi Capital. Arab National Bank, Alrajhi Bank and Saudi National Bank are the receiving agents and Lazard is independent adviser to ADES.

Persons: ADES, EFG Hermes, Goldman Sachs, Lazard, Yousef Saba, Sonia Cheema Organizations: Reuters, Saudi Exchange, Kuwait Oil Company, North Oil Company, SNB, JPMorgan, underwriters, GIB Capital, HSBC, Al, Saudi Fransi Capital, Arab National Bank, Alrajhi Bank, Saudi National Bank, Thomson Locations: DUBAI, Saudi, Khobar, ADES, East, North Africa, India, Saudi Aramco, Qatar, Al Rajhi Capital

Meanwhile, failed uprisings in Bahrain and eastern Saudi Arabia were followed by years-long crackdowns and a continuing civil war in Syria. “What we’re beginning to see in Saudi Arabia right now is the emergence of a new social contract. Saudi Arabia is the world’s biggest exporter of crude oil, and nearly two-thirds of its income still comes from selling fossil fuels. If Saudi Arabia can become a hub for major sporting events, then that’s a way of attracting interest to the country,” said Maguire. In response to previous criticism about Saudi Arabia’s purported “sportswashing,” the kingdom’s sports minister Prince Abdulaziz bin Turki Al-Faisal said: “People that don’t know Saudi Arabia, have never been to Saudi Arabia, go out and talk about it as if they’ve lived there for 30 years, 40 years.

Persons: Hilal, Kylian Mbappé, Germain, Neymar Jr, Ballon d’Or, Cristiano Ronaldo, Nassr, Patricia de Melo Moreira, it’s, Saudi Crown Prince Mohammed bin Salman –, Leon Neal, Ballon, Karim Benzema, Al Hilal, spender, –, Carlo Nohra, Jordan Henderson, Henderson, “, ’ ” Simon Chadwick, “ We’ve, ” Chadwick, King Salman bin Abdulaziz Al Saud, Al Nassr, Stringer, you’re, Kieran Maguire, they’re, Everybody’s, ” Maguire, Chadwick, Ronaldo, Maguire, … Mohammed bin Salman, ” James Dorsey, ”, Chadwick –, Mohammed bin Salman, Saudi Arabia’s, Prince Abdulaziz bin Turki Al, Faisal, don’t, they’ve, LIV Golf, Jimmy Dunne, LIV, Dunne, Aleksander Ceferin, Erling, Haaland, Jurgen Klopp, Michael Emenalo, Steven Gerrard, Nohra, ” “ They’ve Organizations: CNN, Saudi, Al, Paris Saint, PSG, Saudi Pro League, Ligue, Liga, Serie, Bundesliga, English Premier League, Deloitte, Investment Fund, AFP, Getty, SPL, Saudi Crown, Spanish, Arsenal, CNN Sport, English, Newcastle United, Liverpool, The Athletic, SKEMA Business School, Argentina, Zamalek, King Fahd Sports City, Anadolu Agency, Chelsea, Manchester United, Manchester City, Football, AFC Asian, FIFA, Greece, Royal Spanish Football Federation, Spanish Super, ”, Amnesty International, Amnesty, Middle East Soccer, Saudi Ministry, Sport, PGA Tour, European, UEFA, Premier League, Ettifaq Media, Reuters New Saudi Pro League, Major League Soccer, La Liga, Peterson Institute for International Economics, Russian Direct Investment Fund, Investigations, PGA Locations: Saudi Arabian, Brazil, Saudi, Ittihad, Al, Ahli, Real Madrid, England, France, Germany, Spain, Italy, Saudi Arabia, Liverpool, China, Qatar, Taif, Egypt, Spanish, East, North Africa, Libya, Yemen, Tunisia, Bahrain, Syria, “, ”, Europe, ” Liverpool

NEW YORK — While visiting the Sept. 11. memorial Monday in Lower Manhattan, Republican presidential candidate Vivek Ramaswamy said he stands by the comments he had made regarding the terrorist attacks in a recent interview. “So today’s not the day to talk about the comments I made, which I stand by. “Maybe the answer is zero. Monday night Ramaswamy was asked how he came to those thoughts and answered, “It’s not a thought I came to — it’s a hard fact. Honored to be with the bravest & finest among us at the 9/11 Memorial tonight.”

Persons: Vivek Ramaswamy, today’s, ”, ” Ramaswamy, John Hendrickson, “, CNN’s Kaitlan Collins, Ramaswamy, “ It’s, —, Mike Pence, Will Hurd, Said Hurd, Apoorva Organizations: Republican, Fire Department, Atlantic, FBI, Justice Department, GOP, U.S . Rep Locations: Lower Manhattan, Saudi

The criticism comes as Ramaswamy is slated to visit Ground Zero Monday for the tragedy’s 22nd anniversary. “It spits in the face of the thousands of lives that we lost on that day and subsequently,” Hurd said of Ramaswamy’s comments at a campaign stop here. Ramaswamy insists his comments about 9/11 revolve around the FBI’s changing story on Omar Al-Bouyimi. Twenty years after one of the most horrific days in American history, declassified FBI documents revealed Omar Al-Bayoumi, a Saudi national, aided two of the terrorists behind the attacks. “Declassified documents that came out 20 years later from the FBI said that the 9/11 Commission and the FBI absolutely were untruthful about Mohamed al-Bayoumi,” Ramaswamy said.

Persons: Will Hurd, Vivek Ramaswamy, Ramaswamy, ” Hurd, “, ” Ramaswamy, John Hendrickson, Hurd, ”, Omar Al, Bouyimi, Mohamed al, Omar al, “ Mohamed al, “ I’m Organizations: IA, Former Texas Rep, Atlantic, NBC News, Museum, New York City, FBI Locations: NEVADA, Iowa, America, New, Saudi

☆ Saudi Arabia is spending billions on sports, tech and everything in between for a post-oil world
▼ + stars: | 2023-09-10 | by ( Beatrice Nolan | Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Saudi Arabia sparked international outrage in 2018 after Washington Post columnist Jamal Khashoggi was murdered at the Saudi consulate in Istanbul, and continues to face accusations of human rights violations. Despite this, little has been able to stop Saudi Arabia from exerting more and more influence on the global stage. GettyImages/Unsplash/NeomLike many countries, Saudi Arabia's economy suffered when the pandemic struck in 2020, but the only way has been up since then. Chris Trotman/LIV Golf via Getty ImagesBoth at home and far away, Saudi Arabia hasn't shied away from investing boatloads of cash. The total hit 32.2 million in May with a median age of 29, according to Saudi Arabia's General Authority for Statistics.

Persons: Prince Mohammed Bin Salman, Jamal Khashoggi, It's, Ahmed Jadallah, Saudi Arabia's, Sergio Garcia, Chris Trotman, LIV, Saudi Arabia hasn't, Yasir Al, Jasmin Merdan, Abdullah Al, Prince Abdulaziz bin Salman al, Saud, JOE KLAMAR Organizations: Service, Washington Post, Bank, IMF, REUTERS, Saudi Aramco, King, King Abdullah Economic City, Getty, Public Investment Fund, MBS, Newcastle United, LIV, PGA, Saudi, Reuters, Saudi Arabia's, Authority, Statistics, Gulf States Energy, United Arab Emirates, Arab League Locations: Saudi Arabia, Wall, Silicon, Gulf, Saudi, Istanbul, Gulf Kingdom, Ahmed Jadallah Saudi Arabia, King Abdullah, Jasmin Merdan Saudi's, Riyadh, Arab, Vienna, AFP, Kuwait, UAE, Qatar

☆ Roberto Mancini named as Saudi Arabia’s national team coach
▼ + stars: | 2023-08-28 | by ( Matt Foster | ) edition.cnn.com time to read: +2 min

CNN —Roberto Mancini was announced as the new head coach of Saudi Arabia’s men’s team on Sunday, just two weeks after resigning as manager of his native Italy. John Sibley/Pool/Getty ImagesMancini was head coach of Italy for five years, winning the men’s European Championship with the team in 2021. At club level, Mancini has managed Inter Milan and Manchester City most notably, as well as a stint with Zenit St. Petersburg in Russia. Saudi Arabia’s men’s national team sprung one of the surprises of the 2022 World Cup, defeating eventual champion Argentina 2-1 in the group stage. Saudi Arabia’s next fixtures are against Costa Rica and South Korea in September.

Persons: CNN — Roberto Mancini, Saudi Arabia’s, Mancini, “, ” Both Mancini, ” Mancini, John Sibley, Cristiano Ronaldo, Neymar, Ballon d’Or, Karim Benzema, James ’, Mohammed bin Salman Organizations: CNN, Twitter, Saudi, Qatar, Inter Milan, Manchester City, Zenit St, Manchester City’s, English Premier League, men’s, eventual, Argentina, Saudi Pro League, Saudi Arabia’s, St, Newcastle United, Newcastle, Saudi Public Investment Fund Locations: Saudi, Italy, Europe, England, Ukraine, Petersburg, Russia, Costa Rica, South Korea, Gulf

London CNN —British police on Monday said it will take no further action following an investigation into an alleged cash-for-honors scandal linked to one of King Charles III’s charities. As is traditional when the monarch returns to the Scottish residence for the summer, a small ceremony was held outside the castle gates. King Charles inspected an honor guard formed of the Balaklava Company, 5th Battalion The Royal Regiment of Scotland. The 4 SCOTS Pipes and Drums performed at the ceremony, and Shetland Pony Corporal Cruachan IV, the royal regiment’s mascot, was also present. The King was recently announced as Colonel-in-Chief of The Royal Regiment of Scotland, taking on the role from his late mother, Queen Elizabeth II.

Persons: King Charles III’s, Michael Fawcett, Mahfouz Marei Mubarak bin Mahfouz, Buckingham, ”, King, King Charles, Pipes, Cruachan IV, Queen Elizabeth II Organizations: London CNN, British, Metropolitan Police, Foundation, Saudi, Sunday Times, British Empire, Prince’s, ”, Balaklava Company, 5th Battalion, Royal Regiment of Scotland, The Royal Regiment of Scotland Locations: British, Balmoral

☆ Newcastle to host Saudi Arabia international friendly games
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: 1 min

Aug 16 (Reuters) - Saudi Arabia's men's football team will play two international friendly matches at Newcastle United's stadium in September, the Premier League club said on Wednesday. Newcastle, whose majority shareholder is Saudi Arabia's Public Investment Fund (PIF), will host the Saudi national side's games against Costa Rica on Sept. 8 and South Korea on Sept. 12 at St James' Park. The two games form part of Saudi's preparations for the AFC Asian Cup to be held in Qatar in January 2024. Saudi Arabia won the last of their thee Asian Cup titles in 1996. Reporting by Trevor Stynes, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Park, Trevor Stynes, Pritha Sarkar Organizations: Saudi Arabia's, Newcastle United's, Premier League, Newcastle, Public Investment Fund, Saudi, Costa, St James, AFC Asian, Thomson Locations: Saudi, Costa Rica, South Korea, Qatar, Saudi Arabia

CNN —Phil Mickelson considered a $400,000 bet on the 2012 Ryder Cup – in which he was participating – according to a book that will be released later this month by professional gambler Billy Walters. “The only other person I know who surpassed that kind of volume,” Walters wrote, “is me.”In a Thursday post on X, formerly known as Twitter, Mickelson denied betting on the 2012 Ryder Cup. Walters wrote he doesn’t know if Mickelson ever placed that bet. Walters suggested in the book, according to Golf Digest, that Mickelson was to blame for the prison sentence. The superstar came under fire last year over his involvement in the controversial LIV Golf, the world’s most lucrative golf tour.

Persons: Phil Mickelson, Billy Walters, Walters, Mickelson, Mickelson “, ” “, “, ” Walters, ”, Pete Rose, “ You’re, Arnold Palmer, ” Mickelson, “ Haven’t, Amy, Nevada ’ Walters, Donald Trump, “ Phil Mickelson, Phil, LIV Golf, Alan Shipnuck, “ Phil, ” Shipnuck, Jamal Khashoggi, LIV, Mohammed bin Salman, Khashoggi, Bin Salman Organizations: CNN, Twitter, Ryder, US, Dean Foods, United States, Southern, of, FBI, Securities and Exchange, League, PGA Tour, Saudi Arabia’s Public Investment Fund, Saudi, Congress Locations: Nevada, New York, of New York, Saudi, Saudi Arabia, Washington, al Qaeda

☆ China praises Ukraine talks in Saudi that Russia said were ‘doomed to fail’
▼ + stars: | 2023-08-07 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +4 min

Kremlin officials said Russia had not been invited to the talks but was monitoring them, state media reported. Beijing had steered clear of a previous round of talks in Denmark in June, but has deepened ties with Saudi Arabia in recent years. China scored a diplomatic win in the Middle East earlier this year when it helped broker a landmark normalization deal between Saudi Arabia and Iran. In a statement from the Saudi Press Agency (SPA), Saudi Arabia stressed the importance of “benefiting from views and positive suggestions” made during the meeting. In the meantime, the prospect of direct peace talks between Russia and Ukraine seem as far-fetched as ever, as the grueling war approaches the 18-month mark.

Persons: “, Musaed bin Mohammed Al, Jake Sullivan, Eurasian Affairs Li Hui, Li “, …, ”, Li, Xi Jinping, Vladimir Putin, ” “, Dmytro Kuleba, Russia –, Sergei Ryabkov, Ryabkov Organizations: CNN, Beijing, Reuters, Kremlin, Saudi, Aiba, Eurasian Affairs, Western, China, Russia, Moscow ”, Saudi Press Agency Locations: Ukraine, Saudi Arabia, Russia, China, Jeddah, United States, Beijing, Denmark, Saudi, Moscow, Ukraine’s, Kyiv, ” “ Saudi Arabia, Ukrainian, Riyadh, Iran, OPEC, India

☆ BlackRock made a climate pledge. Then it appointed a Saudi oil executive to its board
▼ + stars: | 2023-07-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —BlackRock, the world’s biggest asset manager, said Monday it has appointed Amin Nasser, chief executive of oil giant Saudi Aramco, to its board of directors — despite the New York-based firm’s pledge to accelerate investment in climate-friendly companies. Nasser joined the state-run oil giant Saudi Aramco in 1982 as a petroleum engineer, rising up the ranks to become CEO in 2015. Saudi Aramco is the world’s largest oil producer, with a market capitalization of 7.8 trillion Saudi riyal ($2.1 trillion). But, like other fossil fuel companies, pressure has built on Saudi Aramco to take more drastic action to curb its greenhouse gas emissions. President and CEO of Aramco Amin Nasser attends the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023.

Persons: Amin Nasser, —, Bader Alsaad, Larry Fink, Nasser, Hasnoor Hussain, ” Nasser, BlackRock’s, Jeff Sonnenfeld, Nasser “ Organizations: London CNN — BlackRock, Saudi Aramco, New, BlackRock, Arab Fund for Economic, Social, Saudi, —, Energy Asia, World Petroleum Congress, Yale School of Management, CNBC, Aramco, CNN Locations: Saudi, New York, ”, Ukraine, Kuala Lumpur, Malaysia, decarbonize, United States, BlackRock

☆ Saudi National Bank was denied taking 40% Credit Suisse stake, Blick reports
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

VIENNA, July 9 (Reuters) - Saudi National Bank wanted to increase its stake in Credit Suisse to around 40% from 9.88%, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper reported on Sunday. FINMA must give its approval for a foreign investor to take a stake of more than 10% in a major Swiss bank. Credit Suisse declined to comment. FINMA and Saudi National Bank (1180.SE) were not immediately available for comment. The deal converted Saudi National Bank's stake in Credit Suisse into just 0.5% of UBS.

Persons: FINMA, Blick, Francois Murphy, Rachna Uppal, Alexander Smith Organizations: Saudi National Bank, Credit, UBS, Credit Suisse, Swiss, Saudi National, Thomson Locations: VIENNA, Credit Suisse, Swiss, Saudi, Dubai

☆ Saudi Arabia is now stealing sporting headlines as prince pursues global ambitions
▼ + stars: | 2023-06-12 | by ( Nic Robertson | ) edition.cnn.com time to read: +9 min

CNN —Saudi Arabia has been in the headlines a lot lately – this time for trying to find its place in the sporting world. The kingdom’s golfing coup is perhaps the crowning sporting achievement so far of heir apparent Crown Prince Mohammed Bin Salman (MBS). Regional outlierBy the time King Salman came along, the 21st century was passing Saudi Arabia by. Saudi Arabia has led efforts to bring Syria in from the cold and tried to mediate in conflicts such as those in Sudan and even Ukraine. On oil, he has made Saudi Arabia a bolder player.

Persons: LIV Golf, Cristiano Ronaldo, Ballon d’Or, Karim Benzema, Jamal Khashoggi, Prince Mohammed Bin Salman, King Salman’s, King Salman, LIV, Liberalizations, Al Hathloul, can’t, Xi Jinping, Vladimir Putin, Bashar al, Assad, Yemen’s, Putin, Xi Organizations: CNN, golf’s, Dubai, Saudi Pro League, France, Washington Post, Formula, MBS, Ritz, Saudi, Washington Locations: Saudi Arabia, Saudi, Portuguese, Istanbul, Riyadh, Mecca, Dubai, Moscow, Beijing, Ukraine, Syria, Sudan, Turkey, Syrian, Iran, Asia, Iraq, Afghanistan, Israel, Jeddah

☆ Major Gulf bourses end lower on falling oil prices
▼ + stars: | 2023-06-11 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

June 11 (Reuters) - Major stock markets in the Gulf ended lower on Sunday in response to falling oil prices and weaker-than-expected Chinese economic data. The Qatari Stock index (.QSI) dropped 0.5%, extending its losses to a second session. The index recorded a drop in all sectors with Gulf's biggest lender Qatar National Bank (QNBK.QA) falling 0.6% and Qatar International Islamic Bank (QIIB.QA) shedding 0.7%. However, the oil giant Saudi Aramco (2222.SE) and the kingdom's biggest bank Saudi National Bank (1180.SE) lost 0.3% and 0.9% respectively. Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 1.3%, extending its previous session gains.

Persons: Md Manzer Hussain, Ros Russell Organizations: Saudi, Gulf's, Qatar National Bank, Qatar International Islamic Bank, Bank Aljazira, Saudi Industrial Investment Group, Saudi Aramco, Saudi National Bank, Fawry Banking, Thomson Locations: Saudi

☆ Saudi Arabia's Public Investment Fund just reshaped professional golf with the PGA Tour-LIV merger. That's just the start
▼ + stars: | 2023-06-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The Saudi Public Investment Fund is a government-controlled fund that has $650 billion in assets under management, according to its most recent filing. A state-owned investment fund like the PIF is not unique. Critics of LIV Golf accused the Saudis of backing the new tour as a form of “sportswashing” its reputation. For example it’s not clear exactly how much it invested to start up LIV Golf. CNN has not been able to confirm that report, but what is known is that LIV Golf tournaments have been held on Trump Organization properties.

Persons: petro, LIV Golf, LIV, Yasir Al, Rumayyan, Cristiano Ronaldo, Karim Benzema, ”, Elon Musk, Jared Kushner, Donald Trump’s, Kushner, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, – CNN’s Coy Wire, Jack Bantock, Steve Almasy Organizations: New, New York CNN, Saudi, Saudi Public Investment Fund, Sovereign Wealth Fund, PGA, Soccer, Saudi Aramco, Newcastle United, Saudi Pro League, CNBC, Electronic Arts, EA, Activision Blizzard, Ticketmaster, Carnival Corp, Twitter, Washington Post, CNN, Trump Organization, US State Department, Congress Locations: New York, Europe, Saudi, English, Al, Saudi Arabia, al Qaeda

An announcement by the PGA Tour declared a partnership with the Saudi-backed LIV Golf, as well as the DP World Tour, unifying the trio under a new, yet-to-be-named, commercial entity. An eight-time winner on the PGA Tour and the 2020 US Open champion, DeChambeau’s move was a huge coup for LIV Golf. Yet many of the game’s biggest stars stayed put, with several becoming outspoken critics of LIV Golf. The latter purportedly turned down a $700 - $800 million offer to join the breakaway series, according to LIV Golf CEO Greg Norman. “I do feel bad for the PGA Tour players because they were told one thing and something else happened.

Persons: Bryson DeChambeau, “, LIV, DeChambeau, DeChambeau’s, LIV Golf, Rory McIlroy, Tiger Woods, Greg Norman, CNN’s Kaitlan Collins, ” DeChambeau, it’s, Suhaimi Abdullah, Saudi Arabia’s, LIV Golf’s, Mohammed bin Salman, Jamal Khashoggi, Bin Salman, Quizzed, Collins, “ I’m, I’m, ” Bryson, Brett Eagleson, Maddie Meyer, ” Organizations: CNN, PGA Tour, Saudi Arabia’s Public Investment Fund, PGA, “, LIV, Sentosa Golf Club, Saudi, Congress, United, America, Getty Locations: Saudi, Singapore, Saudi Arabia, Washington, al Qaeda

☆ PGA Tour-LIV Golf merger is a major win for the Saudis — and Americans are slamming it
▼ + stars: | 2023-06-07 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

It's lured some of the biggest golf stars away from the PGA Tour with huge paychecks, spurring antitrust lawsuits with the American organization. "This is Saudi Arabia buying the PGA tour," sports talk show host Rich Eisen said in his broadcast after hearing the news. USA Today sports columnist Christine Brennan called the move "a total wimp-out by the PGA Tour. Glyn Kirk | AFP | Getty ImagesSocial media was rife with self-described golf fans vowing to never again watch the PGA Tour. Pro golfer Phil Mickelson, another member of the LIV Tour, tweeted "Awesome day today" in response to the news.

Persons: LIV Golf, that's, —, LIV, Saudi Crown Prince Mohammed bin Salman, It's, Jay Monahan, Rich Eisen, Pat Welter, it's, Christine Brennan, Tiger Woods, Glyn Kirk, Ron Wyden, Chris Murphy, Jamal Khashoggi, Saudi LIV, Monahan, Saudi Arabian Crown Prince Mohammed bin Salman, Jim Watson, Bryson DeChambeau, DeChambeau, Phil Mickelson, Jeffries, Yasir Al, Cristiano Ronaldo, Saudi Arabia's, Al Organizations: PGA Tour, Saudi, LIV Players, PGA, Saudi Arabia's Public Investment Fund, Saudi Crown, CNBC, Twitter, 150th, St, AFP, Getty, LIV, Washington Post, Amnesty, Saudi Arabian Crown, Saudi Embassy, Washington D.C, Saudi Foreign Ministry, CNN, Royal, Anadolu Agency, Getty Images Investment, Rumayyan, Nassr Football Club, Al Nassr Football Locations: Saudi Arabia, North Carolina, Saudi, Scotland, Oregon, Connecticut, American, Washington ,, Washington, videoconference, Riyadh, PIF, Portuguese

☆ PGA Tour agrees to merge with Saudi-backed rival LIV Golf
▼ + stars: | 2023-06-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +13 min

The PGA Tour has agreed to merge with Saudi-backed rival LIV Golf in a deal that would see the competitors squash pending litigation and move forward as a larger golf enterprise. With LIV Golf in the midst of its second, groundbreaking season, the PGA TOUR, DP World Tour and PIF will work together to best feature and grow team golf going forward. PIF will initially be the exclusive investor in the new entity, alongside the PGA TOUR, LIV Golf and the DP World Tour. Separately, PGA TOUR Inc. will remain in place as a 501(c)(6) tax exempt organization and retains administrative oversight of events for those assets contributed by the PGA TOUR, including the sanctioning of events, the administration of the competition and rules, as well as all other "inside the ropes" responsibilities, with Jay Monahan as Commissioner and Ed Herlihy as PGA TOUR Policy Board Chairman. The DP World Tour and LIV Golf will retain similar administrative oversight of events on their respective Tours.

Persons: LIV, LIV didn't, Yasir Al, Rumayyan, Jay Monahan, PIF, CNBC'S David Faber, LIV Golf, Brooks Koepka, Phil Mickelson, Bubba Watson, Monahan, Team Captain Brooks Koepka, Ricky Elliott, Osama Bin Laden, Donald Trump, nobody's, Trump, CNBC's David Faber, Jessica Golden, Kevin Durant, James Pitaro, LIV –, we've, Jay, Keith, Ed Herlihy, Herlihy, Jimmy Dunne, Keith Pelley Organizations: Nexstar, Nexstar Media Group, CW Network, CW, Wrestling, Endeavor Group, PGA Tour, CNBC, Saudi Arabia Public Investment Fund, PGA, European PGA, U.S, Team, Royal Greens, & Country Club, King Abdullah Economic, Saudi, CBS Sports, LIV, ESPN, Public Investment Fund, Al, Rumayyan, Strategic Alliance Locations: U.S, Saudi, Jeddah, King Abdullah, King Abdullah Economic City, Saudi Arabia, Los Angeles, RIYADH, PONTE, BEACH , Florida

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