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☆ Saudi SCOPA and Airbus agree to produce helicopters in the kingdom -SCOPA CEO
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

DUBAI, June 19 (Reuters) - Saudi defence company SCOPA Industries and Airbus (AIR.PA) have signed an agreement to jointly produce civil and military helicopters in the kingdom, SCOPA CEO Fawaz Alakeel told Saudi state TV on Monday. He added that SCOPA expects to manufacture more than 100 helicopters and create 8500 jobs in the kingdom. Without giving further details he said the company expects investments worth more than 25 billion riyals ($6.67 billion) over 20 years. Saudi and French companies have signed 24 agreements at the forum, Saudi state TV reported without further details. ($1 = 3.7505 riyals)Reporting by Nayera Abdallah; Editing by Toby Chopra, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Fawaz Alakeel, Saudi Arabia's Crown Prince Mohammed bin Salman, Alakeel, Nayera Abdallah, Toby Chopra, Kirsten Donovan Organizations: SCOPA Industries, Airbus, TV, Saudi Arabia's Crown, Thomson Locations: DUBAI, Saudi, France, Saudi Arabia

PGA TOUR logo is seen during the second round of the Farmers Insurance Open at Torrey Pines South on January 29, 2021 in San Diego, California. The Justice Department's Antitrust Division has informed the PGA Tour it will review the organization's proposed merger with Saudi-funded LIV Golf, a source told NBC News on Thursday. The Justice Department and LIV Golf declined to comment. The PGA Tour policy board will have to approve the agreement, Monahan told players in a memo. The PGA Tour revealed Tuesday that Monahan is currently recovering from an unspecified medical matter and is taking a leave of absence.

Persons: LIV, LIV Golf, Democratic Sens, Elizabeth Warren of, Ron Wyden, Sen, Richard Blumenthal, Conn, Wyden, Saudi Arabia's Crown Prince Mohammed bin Salman, LIV dangled, Donald Trump, Jay Monahan, Monahan Organizations: Farmers Insurance, Torrey Pines, Department's Antitrust, PGA, Saudi, NBC, Justice, LIV, CNBC, PGA Tour, Democratic, Oregon, DOJ, Investment Fund, Saudi Arabia's Crown, Tour Locations: San Diego , California, Elizabeth Warren of Massachusetts, New Jersey

☆ Saudi's crown prince promised pain for the US if it retaliated against oil cuts, report says. His threat seems to have paid off.
▼ + stars: | 2023-06-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Saudi Arabian Crown Prince Mohammed bin Salman threatened the US amid an oil price dispute, leaks say. The crown prince is seeking to assert a more independent path from the US. In turn, Crown Prince Mohammed has mocked Biden behind his back, reported The Wall St. Journal, and believes he can secure nuclear technology from the US by playing rival powers off against each other. But Cafiero told Insider that despite marked differences and apparent personal antipathy between Biden and Crown Prince Mohammed, the Saudis remain committed to working with the US. "While the crown prince wants to work with Washington, he doesn't want anyone in the US to view Saudi Arabia as America's puppet state," he remarked.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman, —, State Anthony Blinken, Saudi Arabia's Crown Prince Mohammed bin Salman, Joe Biden, Biden's, it's, Biden, Giorgio Cafiero, Mohammed bin Salman, Cafiero, Jamal Khashoggi, Prince Mohammed Organizations: Saudi, Saudi Arabian Crown, Service, State, Saudi Arabia's Crown, State Department, CNN, The Washington Post, US, Washington , D.C, White House, White, Analytics, Biden, Washington Post, ., Washington Locations: Saudi Arabian, Riyadh, Saudi, Russia, Washington ,, China, Washington, Gulf, Saudi Arabia, Kingdom, America

[1/5] Saudi Arabia's Crown Prince Mohammed bin Salman (L) meets with US Secretary of State Antony Blinken in Jeddah in Jeddah, Saudi Arabia June 7, 2023. Amer Hilabi/Pool via REUTERSJEDDAH, Saudi Arabia, June 7 (Reuters) - U.S. Secretary of State Antony Blinken had an "open, candid" conversation with Saudi Crown Prince Mohammed bin Salman in the early hours of Wednesday about a wide range of bilateral issues, a U.S. official said. Blinken and the crown prince, known as MbS, met for an hour and forty minutes, a U.S. official said, covering topics including Israel, the conflict in Yemen, unrest in Sudan as well as human rights. In April, Saudi Arabia restored ties with Iran, a regional rival and Israel's arch-foe. MbS and Blinken also discussed Yemen and potential ways to resolve remaining issues, while Blinken thanked the crown prince for the kingdom's role in pushing for a ceasefire in Sudan and helping evacuate U.S. citizens.

Persons: Saudi Arabia's Crown Prince Mohammed bin Salman, Antony Blinken, Amer Hilabi, Saudi Crown Prince Mohammed bin Salman, Prince Mohammed, Blinken's, Donald Trump, Jonathan Fulton, Fulton, Blinken, Humeyra Pamuk, Aziz El Yaakoubi, El, Raju Gopalakrishnan, Mark Potter Organizations: Saudi Arabia's Crown, REUTERS, Saudi Crown, U.S, MbS, United, New York Times, Saudi, However U.S, Atlantic Council, Washington, ., normalising Saudi, Twitter, Thomson Locations: Jeddah, Saudi Arabia, REUTERS JEDDAH, Iran, Washington, Riyadh, United States, Arabia, OPEC, Israel, Yemen, Sudan, East, United Arab Emirates, Bahrain, However, China, Arab, Beijing, Saudi

☆ The Saudi crown prince revealed his latest vision for Neom, the $1 trillion 'utopian' megacity that critics fear will become a dystopian nightmare
▼ + stars: | 2023-05-29 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Saudi Arabia unveiled new pictures of the Neom megacity planned by its ruler, Mohammed bin Salman. Loading Something is loading. Neom is the brainchild of Saudi Arabia's crown prince and de facto ruler, Mohammed bin Salman. In a new set of pictures released by Neom and Unsplash, the city is portrayed as a paradisaical adventure holiday resort. But activists are warning that that rights are being trampled as Saudi Arabia readies parts of the resort to be opened to visitors.

☆ Ukraine's Zelenskiy lands in Jeddah to attend Arab League - al-Hadath TV
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

DUBAI, May 19 (Reuters) - Ukrainian President Volodymyr Zelenskiy landed in Jeddah on Friday to attend an Arab League summit, where Syrian President Bashar al-Assad, heavily-backed by Russia in his country's civil war, will also be present now that his regional isolation ended. He is also due to attend the G7 leaders' summit in the Japanese city of Hiroshima this weekend. Last year Prince Mohammed won a diplomatic triumph when he secured the release of 10 foreigners captured by Russia in Ukraine. The kingdom faced heavy criticism from the United States over an OPEC+ decision to cut oil production, seen as helping Russia to refill its coffers by boosting prices. Even though the October decision initially drew heavy criticism from the United States and other Western countries, market dynamics since then have shown the cuts to be prudent.

☆ Biden is trying to lure Saudi Arabia's crown prince away from China with lucrative promises, despite once threatening to make him a 'pariah'
▼ + stars: | 2023-05-10 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

The US has replaced its threats with lucrative contracts for the crown prince as part of a high stakes power game being waged over dominance of the region. Biden last weekend dispatched his national security advisor, Jake Sullivan, to Saudi Arabia, for discussions with Saudi officials. Last year, Crown Prince Mohammed and Xi agreed to deepen their cooperation across a range of economic and security issues. Chinese President Xi Jinping holds talks with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud at the royal palace in Riyadh, Saudi Arabia, Dec. 8, 2022. "It is important to note that Saudi Arabia is not seeking to burn its bridges with the United States.

☆ Sen. Lindsey Graham, who once called Saudi Arabia's crown prince 'toxic' and refused to set foot in the country, is now heaping praise on the country after a recent visit
▼ + stars: | 2023-04-16 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +2 min

Sen. Lindsey Graham said he wouldn't do business with Saudi Arabia in 2018. ABC 'This Week' host Johnathan Karl on Sunday asked Graham about his recent visit to Saudi Arabia and meeting with the Crown Prince Mohammed bin Salman. In 2018 in the aftermath of Khashoggi's death, Graham said he wouldn't do business with Saudi Arabia or visit the country. "If you get nothing else out of this interview, things in Saudi Arabia are changing very quickly for the better. He noted that Saudi Arabia bought $36 billion worth of 787 Boeing jets made in Charleston, South Carolina, his home state.

[1/2] White House National Security Advisor Jake Sullivan speaks during a daily press briefing at the White House in Washington, D.C., U.S., November 10, 2022. REUTERS/Tom BrennerWASHINGTON, April 11 (Reuters) - U.S. national security adviser Jake Sullivan spoke with Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday and discussed Iran and steps aimed at ending the war in Yemen, the White House said. The foreign ministers of Iran and Saudi Arabia met in Beijing last week after agreeing to end their diplomatic rift following years of hostility that fuelled conflicts across the Middle East. Mr. Sullivan reaffirmed President (Joe) Biden’s unwavering commitment to ensure Iran can never acquire a nuclear weapon," the White House said in a statement late on Tuesday. Yemen's war is seen as one of several proxy battles between Iran and Saudi Arabia.

☆ Lindsey Graham chatted and smiled with Saudi Arabia's crown prince, who he previously called an 'unhinged' murderer he'd never work with
▼ + stars: | 2023-04-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

South Carolina Sen. Lindsey Graham was pictured meeting Saudi Arabia's Mohammed bin Salman. In a tweet Tuesday, Graham said he had just had a "very productive, candid meeting with the Saudi Crown Prince and his senior leadership team. "This guy has got to go," Graham said in a 2018 Fox News interview, and said the crown prince had Khashoggi "murdered." "Saudi Arabia, if you're listening, there are a lot of good people you can choose," Graham said. President Joe Biden had pledged to make the crown prince a "pariah" while seeking election in 2020, but as president has instead chosen to maintain an alliance.

[1/2] The Boeing 787 Dreamliner airplane is seen in Long Beach, California March 14, 2012. REUTERS/Lucy NicholsonMarch 14 (Reuters) - Two Saudi Arabian airlines announced plans on Tuesday to order 78 Boeing 787 Dreamliners, a big win for Boeing (BA.N) that marks the fifth largest commercial order by value in its history. State-owned Saudi Arabian Airlines (Saudia) and new national airline Riyadh Air will each buy 39 widebody 787s from the U.S.-based planemaker. The deal contains options for 10 additional Dreamliners for Saudia and 33 for Riyadh Air. Calhoun said the planemaker was standing by its 787 production guidance announced in November "and we're confident we can do it."

[1/2] A Boeing 787-8 puts on a display at the Farnborough Airshow, in Farnborough, Britain July 16, 2018. REUTERS/Peter Nicholls/File PhotoWASHINGTON, March 13 (Reuters) - Boeing Co (BA.N) is expected to sell nearly 80 787 Dreamliner airplanes to two Saudi Arabian airlines, a source briefed on the matter said on Monday. State-owned Saudi Arabian Airlines (Saudia) and new national airline Riyadh Air will both be acquiring Boeing 787s, the source said. The airlines are expected to buy a total of 78 787s split between the two buyers and have options to buy another 43, the source said. The Saudi deal comes on the heels of a major December order from United Airlines (UAL.O) for 100 787 Dreamliners and 100 737 MAX jets.

☆ Most Middle Eastern stock markets in red as bank worries spread
▼ + stars: | 2023-03-12 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

March 12 (Reuters) - Most stock markets in the Middle East ended lower on Sunday, with the Egyptian bourse leading the declines, in response to Friday's fall in global shares over fears of contagion following the collapse of Silicon Valley Bank (SVB) (SIVB.O). The startup-focused lender became the largest bank to fail since the 2008 financial crisis on Friday, roiling global markets and leaving billions of dollars belonging to companies and investors stranded. In Qatar, the index (.QSI) slid 1.6%, as almost all the stocks were in negative territory including Qatar Islamic Bank (QISB.QA), which tumbled 3.9%. Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 1.7% fall in Al Rajhi Bank (1120.SE) and a 0.8% decrease in Retal Urban Development CO (4322.SE). Outside the Gulf, Egypt's blue-chip index (.EGX30) tumbled 3.1%, with 28 of thirty one stocks on the index trading red, including top lender Commercial International Bank (COMI.CA), which was down 1.8%.

☆ Saudi Arabia launches new national airline
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +1 min

March 12 (Reuters) - Saudi Arabia's Crown Prince Mohammed bin Salman formally announced on Sunday the creation of a new national airline, Riyadh Air, with industry veteran Tony Douglas as its chief executive, as the kingdom moves to compete with regional transport and travel hubs. The new airline is expected to add $20 billion to Saudi Arabia's non-oil GDP growth and create more than 200,000 jobs both directly and indirectly, it said. The announcement may lead to a tougher battle for passengers, going head-to-head with regional giants Emirates, Qatar Airways and Turkish Airlines as the travel industry recovers from the pandemic. In October, Saudi Arabia was in advanced negotiations to order almost 40 A350 jets from Airbus (AIR.PA), with Boeing Co (BA.N) also lobbying for a slice of the kingdom's transportation expansion, industry sources had told Reuters. The head of state-owned Saudi Arabian Airlines (Saudia) told Reuters at the time that it was in talks with Boeing and Airbus on orders both for itself and a planned new carrier.

☆ Saudi Arabia's crown prince once bragged Jared Kushner was 'in his pocket'. It's getting harder to convince people otherwise.
▼ + stars: | 2023-02-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

It's a move that, even if technically legal, appears designed to help obscure Kushner's financial relationship with the Saudis, and fuels longstanding suspicions over Kushner's relationship with the crown prince. During his time as a senior advisor in his father-in-law's administration, Kushner's relationship with the Saudi ruler repeatedly raised alarm among top US officials. Jabin Botsford/The Washington Post via Getty ImagesThe Post report also said Trump benefited financially from ties with the Saudis after leaving office. A report by The Intercept in 2018 claimed that Crown Prince Mohammed boasted about having secured an extraordinary level of influence over Kushner, reportedly remarking that he had Kushner "in his pocket." The report said that Kushner may have even handed US intelligence on internal critics to Crown Prince Mohammed.

☆ Former decision-maker Dodd questions FIFA over Saudi tourism deal
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

Feb 4 (Reuters) - Ex-Australia international and former FIFA Council member Moya Dodd has accused soccer's governing body of a lack of understanding of the women's game amid reports Saudi Arabia's tourism authority will sponsor the Women's World Cup. Australia and New Zealand, co-hosts of this year's tournament, wrote to FIFA on Wednesday seeking urgent clarification after the Guardian reported Visit Saudi will be named as a major sponsor of the event. "For FIFA to tell LGBTQ players and fans they should 'Visit Saudi' is to send them to a jurisdiction where they are regarded as criminals. FIFA and Visit Saudi have declined to comment on sponsorship of the World Cup, which will be held from July 20 to Aug. 20. "If FIFA is seriously proposing to these fans and players that they should 'Visit Saudi', then they profoundly misunderstand either their own community, or the laws in Saudi Arabia."

☆ How Saudi Arabia's crown prince snubbed Biden repeatedly to forge ties with authoritarian China and Russia
▼ + stars: | 2023-01-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

In 2022, Saudi Arabia sought closer ties with Russia and China. Russia's President Vladimir Putin (R) and Saudi Arabia's Crown Prince Mohammed bin Salman attend the G20 Leaders' Summit in Buenos Aires, on November 30, 2018. Analysts say that US criticism of Saudi Arabia's human-rights record and its suppression of domestic dissent infuriate Riyadh. Crown Prince Mohammed has more affinity with the ideology of fellow strongmen Xi or Putin than with the US, said Alterman. "Saudi Arabia, China, and Russia all believe in the model of 'authoritarian stability'.

☆ Judge dismisses lawsuit over Khashoggi's murder after the Biden administration backed immunity for MBS
▼ + stars: | 2022-12-06 | by ( John Haltiwanger | Ashley Collman | ) www.businessinsider.com time to read: +5 min

A judge dismissed a suit against Mohammed bin Salman in connection to Jamal Khashoggi's death. The decision came just weeks after the Biden administration contended that the Saudi ruler, often referred to as "MBS," should be granted immunity. "Accordingly, the claims against bin Salman will be dismissed based on head-of-state-immunity," Bates added. A declassified intelligence report released by the Biden administration last year explicitly implicated MBS in Khashoggi's killing. On the campaign trail, Biden pledged to make the oil-rich kingdom a "pariah" over Khashoggi's murder.

☆ UAE president visits Qatar in sign of warming ties
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

DOHA, Dec 5 (Reuters) - The United Arab Emirates (UAE) president arrived in Qatar on Monday on the first such visit since Saudi Arabia and its Arab allies ended a boycott of Doha nearly two years ago. Qatar is currently hosting soccer's World Cup,The visit "is another step towards strengthening Gulf solidarity and joint action," Anwar Gargash, diplomatic adviser to the UAE president, said on Twitter. Saudi Arabia, the UAE, Bahrain and Egypt early last year ended a 3-1/2 year embargo of Qatar, but ties between Doha and Abu Dhabi have not warmed at the same pace as those with Riyadh and Cairo, which re-established diplomatic ties with Doha. UAE National Security Adviser Sheikh Tahnoon bin Zayed al-Nahyan visited Doha twice as part of Abu Dhabi's push to manage regional differences. Abu Dhabi, like Manama, has not appointed an envoy to Doha, but restored travel and trade links between the UAE and Qatar.

☆ Credit Suisse's investment bank draws interest from Saudi crown prince, WSJ reports
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

Dec 4 (Reuters) - Investors including Saudi Arabia's crown prince and a U.S. private-equity firm run by a former Barclays CEO have shown interest in investing $1 billion or more in Credit Suisse's (CSGN.S) new investment banking unit, the Wall Street Journal reported on Sunday. Credit Suisse did not immediately respond to a request for comment. Seeking to restore vigor to a business that has been languishing, Credit Suisse in October said that it will reshape its investment bank by resurrecting the First Boston brand. Credit Suisse's history with the First Boston brand dates to 1978 when the pair linked up to operate in the London bond market. Some bankers and investors have expressed scepticism over its ability to regain its past glory in a shrinking market.

☆ Morning Bid: China reopening as volatility ebbs
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +4 min

What's more, Wall Street's 'fear index' is showing little if any trepidation about the final month of the year. Even though it backed up a bit today, the VIX index of implied S&P500 volatility (.VIX) closed at its lowest in 8 months on Friday. Morgan Stanley updated its China equity recommendation to overweight, citing "multiple positive developments alongside a clear path set towards reopening." China's yuan , surged past 7 to the dollar in onshore and offshore markets - its best levels in almost three months. The China re-opening optimism buoyed the oil price even as OPEC+ nations at the weekend held their targets steady despite last week's market speculation of another output cut.

☆ Saudi Exchange launches market-making framework to boost liquidity
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Dec 4 (Reuters) - Saudi Arabia's stock exchange said on Sunday it was launching a market-making framework for its stock and derivatives markets to help ensure liquidity and raise price-determination efficiency. Entities must be exchange members, derivatives exchange members or their clients to be market makers. "Market Makers have to ensure the availability of liquidity for a listed security by providing continuous quotes throughout market open session," the Saudi Exchange, also known as Tadawul, said. "The Saudi Exchange will monitor compliance with Market Maker obligations, and will provide incentives to the Market Maker after obligations are met." As of October, Tadawul was the world's ninth largest exchange by market capitalisation of listed companies at $2.86 trillion, just ahead of the London Stock Exchange, according to Statista.

"There is a big solidarity between us, Morocco, Tunisia, Qatar and Saudi Arabia. "Look at what Saudi Arabia and Morocco have done. We hope that it will be crowned with a Tunisian and Saudi victory today," he said. "It's a good feeling, the first time (a World Cup is hosted) in an Arabian country," said Ali Abbas Moussa, a 30-year-old pharmacist from Iraq. Some Arab leaders attending the World Cup have echoed the sense of pan-Arab solidarity during matches.

☆ After rocky buildup, football ready to grab World Cup spotlight
▼ + stars: | 2022-11-20 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

As host of the Middle East's first World Cup the Emir Sheikh Tamim bin Hamad al-Thani is expected to welcome a star-studded guest list of celebrities and political leaders including Saudi Arabia's crown prince and the presidents of Egypt and Algeria. The controversy that has long surrounded the decision to award the tiny Gulf state the World Cup has built to a crescendo ahead of the tournament, with unrelenting scrutiny of its treatment of migrant workers and the LGBT+ community. "We are ready," Hakeem Ahmad told Reuters as he entered the stadium with his wife and two children. "Whatever happens on the pitch, the world should look kindly on us today. "We hope that after today people will see Qatar in a different light, for who we really are.

☆ Khashoggi's fiancée says the slain journalist 'died again' after Biden argued for MBS to have immunity in lawsuit over the murder
▼ + stars: | 2022-11-18 | by ( Azmi Haroun | John Haltiwanger | ) www.businessinsider.com time to read: +5 min

The fiancée of Saudi journalist Jamal Khashoggi criticized the Biden administration on Thursday. argued that the Saudi Crown Prince deserves immunity, per international law. Hatice Cengiz said Khashoggi "died again" as a result of the US position on Prince Mohammed. "I'm not going to meet with MBS," Biden told reporters in June. Khashoggi's fiancée also criticized the meeting between Biden and MBS, sharing a tweet captioned, "What Jamal Khashoggi would tweet today."

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