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☆ Saudi crown prince arrives in Seoul - state news agency
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

[1/6] Crown Prince of Saudi Arabia, Mohammed bin Salman is received by South Korean Prime Minister, Han Duck-soo upon his arrival in Seoul, South Korea, November 16, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSCAIRO, Nov 16 (Reuters) - Saudi Crown Prince Mohammed bin Salman arrived in South Korea, state news agency (SPA) reported on Wednesday. He was received by the South Korean prime minister in the capital Seoul, it added. Reporting by Moataz Mohammed and Yasmin Hussein; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi defense officials rented suites at Trump's DC hotel that cost $10,500 right before MBS visited White House
▼ + stars: | 2022-11-14 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +5 min

Officials from six countries spent over $750k at Trump's DC hotel in 2017 and 2018, documents show. The officials stayed at Trump's hotel amid rocky periods in relations between their countries and the US. Saudi officials spent nearly $86k in March 2018. The Saudi officials spent nearly $86,000 from March 7 to March 18, including renting several $10,500 suites. Prince Mohammed, the de facto ruler of Saudi Arabia, was explicitly implicated in Khashoggi's killing by the US government.

☆ Thailand's deputy PM discusses the country's ties with Saudi Arabia
▼ + stars: | 2022-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've resumed our diplomatic relationship with Saudi Arabia 'in full': Thai deputy prime ministerAnutin Charnvirakul, Thailand's deputy prime minister, discusses ties between the two countries ahead of Saudi Crown Prince Mohammed bin Salman's first official visit to the Southeast Asian country.

☆ The US is quietly extracting concessions from Saudi Arabia after Mohammed bin Salman humiliated Biden
▼ + stars: | 2022-11-10 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Saudi Arabia has made moves to placate the US after a recent feud over oil. Diplomatic ties between the Biden White House and the Saudi crown prince, Mohammed bin Salman, are being tested as never before in a series of high-stakes diplomatic encounters. Russian President Vladimir Putin shakes hands with Saudi Crown Prince Mohammad bin Salman in Moscow in May 2017. Biden himself said there would be "consequences" for Saudi Arabia, though did not specify what they'd be. "These are mutual interests keeping the US and Saudi Arabia interested in the bilateral partnership.

Saudi Press Agency/Handout via REUTERSDUBAI, Nov 10 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) is working with Lazard (LAZ.N) on funding options and a potential initial public offering of Masar, a $27 billion mega project in the holy city of Mecca, two sources with direct knowledge told Reuters. The PIF, Lazard and Masar did not respond to a Reuters query for comment. Bloomberg first reported Lazard was advising the sovereign wealth fund on NEOM. Masar is a 1.2 million square metre urban development project in the western part of Mecca. Reporting by Hadeel Al Sayegh;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Chinese President Xi Jinping at The Great Hall of People in Beijing in October, he is planning to visit Saudi Arabia next month, according to people familiar with the matter. Chinese leader Xi Jinping is planning to visit Saudi Arabia before the end of the year, according to people familiar with preparations for the trip, as Beijing and Riyadh seek to deepen ties and advance a vision of a multipolar world where the U.S. no longer dominates the global order. Officials are completing the details for a summit between Mr. Xi and Saudi Crown Prince Mohammed bin Salman that would underline Beijing’s growing influence in the Middle East, where the U.S. long reigned supreme, and growing links between the oil-rich Saudis and Washington’s top global rivals.

How Putin and Friends Stalled Climate Progress A handful of powerful world leaders rallied around Russia and undercut global cooperation. Mr. Putin has gained from this as the increasingly autocratic Mr. Xi finds common cause with the Kremlin. “Much depends on whether authoritarian leaders perceive climate action to be in their self-interest.”Though their actions help Mr. Putin, their track records on climate are mixed. Mr. Xi called Mr. Putin his “best friend.”He was returning the favor from a year earlier, when Mr. Putin hosted Mr. Xi at the Grand Kremlin Palace and awarded him one of Russia’s highest medals for foreign dignitaries. At a news conference with Mr. Putin, Mr. Bolsonaro thanked his “dear friend,” saying that Mr. Putin had offered him support when other world leaders were criticizing his Amazon policy.

☆ Saudi crown prince launches Ceer, first Saudi electric vehicle brand
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Nov 3 (Reuters) - Saudi Arabia's crown prince Mohammed bin Salman has launched Ceer, the first Saudi electric vehicle brand, expected to be available in 2025, the state news agency (SPA) reported on Thursday. Ceer will attract over $150 million of foreign direct investment and is projected to directly contribute $8 billion to the kingdom's GDP by 2034, SPA added. The company is a joint venture between Saudi Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), SPA said. Reporting by Alaa Swilam; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Before OPEC+ Production Cut, Saudis Heard Objections From a Top Ally, the U.A.E.
▼ + stars: | 2022-11-01 | by ( Summer Said | Dion Nissenbaum | ) www.wsj.com time to read: 1 min

Sheikh Tahnoun bin Zayed Al Nahyan, shown in December, is the U.A.E.’s national security adviser and brother of its president. ABU DHABI—The United Arab Emirates sent its national security adviser to Riyadh in September on a secret mission to dissuade Saudi Arabia’s crown prince from pushing an oil-production cut that would anger the U.S. and risk painting oil producers as Russian allies, people familiar with the trip said. The Emirati official, Sheikh Tahnoun bin Zayed Al Nahyan, a brother of the U.A.E.’s president, met with Saudi Crown Prince Mohammad bin Salman and echoed Washington’s view that reducing output wasn’t economically necessary and warned of geopolitical fallout, the people said.

☆ Biden admin has discussed slow-rolling Saudi military aid as payback for oil production cut
▼ + stars: | 2022-10-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +4 min

The Biden administration has discussed slow-rolling military aid to Saudi Arabia, including shipments of advanced Patriot missiles, to punish the kingdom for leading OPEC’s decision to cut oil production, say two U.S. officials and a source familiar with the discussions. Some military officials support the idea, said the sources, but others want to make sure the military relationship between the U.S. and Saudi Arabia is kept separate from any retribution by the administration. OPEC’s move spurred a back and forth between the U.S. and Saudi Arabia, with Biden administration officials vowing there would be consequences for the Saudis. “There needs to be a balance between punishing the Kingdom of Saudi Arabia and not making life more difficult or dangerous for the U.S.,” one U.S. official said. One White House official said that while changes to security assistance are under consideration the Biden administration is not in a rush to take action.

☆ Saudi ruler Mohammed bin Salman is seeking to humiliate Biden as part of a global power play
▼ + stars: | 2022-10-28 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Saudi ruler Mohammed bin Salman wants to assert himself internationally. It is a change driven by the Saudi crown prince, Mohammed bin Salman, who is deliberately snubbing the US in an attempt to chart a more independent path, an expert told Insider. Specifically, this has taken the form of Saudi Arabia joining Russia other oil-rich nations to announce a steep cut in production. Cafiero, the analysts, said that Crown Prince Mohammed believes that drawing closer to Russia and China will secure more "leverage" internationally. "Bin Salman and others in Saudi Arabia took a tremendous amount of offense to that rhetoric.

SummarySummary Companies OPEC+ oil output cut led to U.S., Saudi spatSaudi Arabia and U.S. "solid allies" – ministerBig Wall St turnout at flagship Saudi investment summitRIYADH, Oct 25 (Reuters) - Saudi Arabia decided to be the "maturer guys" in a spat with the United States over oil supplies, the kingdom's energy minister Prince Abdulaziz bin Salman said on Tuesday. "We keep hearing you 'are with us or against us', is there any room for 'we are with the people of Saudi Arabia'?" Biden pledged that "there will be consequences" for U.S. relations with Saudi Arabia after the OPEC+ move. JPMorgan Chase & Co Chief Executive Jamie Dimon, speaking at the gathering, voiced confidence that Saudi Arabia and the United States would safeguard their 75-year-old alliance. It recovered the next year, attracting leaders and businesses with strategic interests in Saudi Arabia, after which the pandemic hit the world.

RIYADH, Saudi Arabia—An unwritten pact binding the U.S. and Saudi Arabia has survived 15 presidents and seven kings through an Arab oil embargo, two Persian Gulf wars and the Sept. 11 terrorist attacks. Now, it is fracturing under two leaders who don’t like or trust each other. Saudi Crown Prince Mohammed bin Salman , the kingdom’s 37-year-old day-to-day ruler, mocks President Biden in private, making fun of the 79-year-old’s gaffes and questioning his mental acuity, according to people inside the Saudi government. He has told advisers he hasn’t been impressed with Mr. Biden since his days as vice president, and much preferred former President Donald Trump, the people said.

☆ Saudi Arabia confirms crown prince won't attend Arab summit in Algeria
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

RIYADH, Oct 23 (Reuters) - Saudi Crown Prince Mohammed bin Salman will not travel to Algeria next month to attend a summit of the Arab League on medical advice, the royal court confirmed in a statement on state media on Sunday. Doctors had advised Prince Mohammed, 37, to avoid long-haul flights that might affect his middle ear, said the royal court. It has not previously stated that the Crown Prince, Saudi Arabia's de facto ruler, had ear problems. Foreign Minister Prince Faisal bin Farhan Al Saud will head the kingdom's delegation to the summit instead. The Algerian presidency said late on Saturday that Prince Mohammed would not attend the event to be held on Nov. 1 in Algiers in compliance with a medical recommendation to avoid travel.

☆ Saudi crown prince not attending Arab summit on doctors' advice, Algerian presidency says
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Oct 23 (Reuters) - Saudi Crown Prince Mohammed bin Salman will not attend the Arab summit to be held on Nov. 1 in Algeria, in compliance with a doctors' recommendation to avoid travel, the Algerian presidency said in a statement late on Saturday. Prince Mohammed, the kingdom's de-facto ruler, "expressed his regret for not attending the Arab summit", in a phone call with Algerian President Abdelmadjid Tebboune, the statement said. The Saudi foreign ministry later issued a statement on the telephone conversation between the two leaders but did not mention that the Crown Prince was not attending the summit. Arab heads of state are expected to convene for their upcoming 31st summit to be held in Algiers on Nov. 1-2. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ahmad Elhamy and Omar Fahmy; Editing by Daniel Wallis and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ PGA Tour sues LIV Golf's Saudi backers to force evidence discovery
▼ + stars: | 2022-10-21 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The PGA Tour has filed a lawsuit against LIV Golf backers, the Saudi Arabia Public Investment Fund, an entity controlled by the Saudi crown prince, in an effort to force evidence discovery in ongoing legal battles. LIV Golf sued the tour alleging anti-competitive practices for banning its players, and the tour recently countersued LIV Golf, claiming the upstart league was itself stifling competition. "LIV Golf is just beginning its process and is in active discussions with several companies about broadcasting the LIV Golf League. Meanwhile, the PGA tour has taken to Washington D.C. to lobby against LIV Golf, and LIV Golf CEO Greg Norman, a former PGA Tour star, made his own visit to Capitol Hill in mid-September to "educate members on LIV's business model and counter the Tour's anti-competitive efforts." The LIV Golf championship will take place starting Oct. 28 at the Trump National Doral in Miami.

☆ Most Gulf markets subdued, Dubai set to snap four-day gaining streak
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Major Gulf stock markets eased in early trade on Wednesday, tracking oil prices lower, with the Dubai index on course to snap four sessions of gains. Crude prices, a key catalyst for the Gulf's financial markets, turned negative and extended losses from the previous session. The United Arab Emirates is committed to increasing its oil production capacity, energy minister Suhail al-Mazrouei said on Tuesday. read moreState-owned Abu Dhabi National Oil Company (ADNOC) is aiming to produce the cleanest barrel on the planet, he told reporters. read more($1 = 3.7565 riyals)Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Major Gulf bourses in red on volatile oil, global growth concerns
▼ + stars: | 2022-10-19 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Major stock markets in the Gulf turned negative on Wednesday, amid volatile oil prices and concerns around global economic growth, with the Dubai index snapping four sessions of gains. The Dubai bourse was volatile as concerns about a global recession continued to weigh on traders' expectations, said Daniel Takieddine, CEO MENA BDSwiss. Register now for FREE unlimited access to Reuters.com Register"The market could see some price corrections if traders move to secure their gains." According to analyst Takieddine, the Qatari market fell on a slide in natural gas prices and remained exposed to more losses. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi crown prince launches National Industrial Strategy
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Oct 18 (Reuters) - Saudi Crown Prince Mohammed bin Salman on Tuesday launched the National Industrial Strategy, which aims to increase the industrial exports value to 557 billion riyals by 2030 ($148.34 billion), the country's state news agency, SPA, reported. The strategy is a plan to promote industry and attract investment in the kingdom's economy, leading to economic diversification and growth of non-oil exports and GDP. The strategy will also increase the total additional investments in the sector to 1.3 trillion riyals ($346.21 billion), the agency added. Register now for FREE unlimited access to Reuters.com Register"Through the National Industrial strategy and in partnership with the private sector, the kingdom will become a leading industrial powerhouse that contributes to securing global supply chains and exports high tech products to the world," the agency quoted Prince Mohammed as saying. The strategy also aims to increase factories in the kingdom from 10,640 at present to 36,000 by 2035, SPA said.

☆ Too late for a Saudi rethink? Critics say oil cut was a predictable blow for Biden
▼ + stars: | 2022-10-15 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +6 min

The cut is also seen as helping Russia, the world’s second-largest oil exporter, finance its war in Ukraine. “It failed both on blood and on oil,” Dr. Khalid Aljabri, a Saudi rights activist, told NBC News Thursday by telephone. Lina Alhathloul / TwitterAs a presidential candidate, Biden made no bones about his stance on the U.S.-Saudi relationship. Shortly after announcing his candidacy, he declared he was going to “cancel the blank check” the Trump administration had given Saudi Arabia during its war in Yemen, in which thousands of people have lost their lives. The U.S. has several options on how it can respond to Saudi Arabia, such as “freezing all arms sales and security cooperation, to withdrawing U.S. troops from Saudi Arabia,” Sheline said.

☆ Saudi Arabia announces $400 mln humanitarian aid to Ukraine
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

Saudi Crown Prince Mohammed bin Salman meets with Greek Prime Minister Kyriakos Mitsotakis (not pictured) at the Maximos Mansion in Athens, Greece, July 26, 2022. REUTERS/Louiza VradiOct 15 (Reuters) - Saudi Arabia will provide $400 million in humanitarian aid to Ukraine, Saudi state news agency SPA said, adding that Crown Prince Mohammed bin Salman made a phone call to Ukrainian President Volodymyr Zelenskiy on Friday. The crown prince expressed the kingdom's readiness to continue efforts of mediation and support everything that contributes to de-escalation, SPA added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yomna Ehab; Writing by Nayera Abdallah; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ How Not to Punish the Saudis on Oil Prices
▼ + stars: | 2022-10-13 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

President Biden and Democrats in Congress are furious at Saudi Arabia for pushing the OPEC cartel to reduce oil production, and they’re threatening “consequences.” The ingenious plan seems to be to tell the Saudis that unless they do what Mr. Biden wants, the U.S. will shoot itself in the head. The Saudis last week joined OPEC, Russia and other oil producers in cutting their output by two million barrels a day. As the Journal reported this week, Saudi Crown Prince Mohammed bin Salman made the decision despite U.S. entreaties to wait at least until after the November election.

Saudi Crown Prince Mohammed bin Salman receives U.S. President Joe Biden at Al Salman Palace upon his arrival in Jeddah, Saudi Arabia, July 15, 2022. Still, the U.S.-Saudi rift is widening as Saudi Crown Prince Mohammed bin Salman, widely known as MbS, flags his country's -- and his own -- importance on the world stage. "He has made a great effort since day 1 to signal to the U.S. that he wants excellent ties. Prince Mohammed, the kingdom's de facto ruler, is aware of Riyadh's oil market power and position as a counterweight to Iran, and may stand firm in the face of U.S. criticism. It says it faces a threat from Iran and its proxies, especially after 2019 attacks that temporarily hit Saudi oil output and shook energy markets.

☆ Biden administration officials are worried OPEC+ has undermined plans for a Russian oil price cap, report says
▼ + stars: | 2022-10-13 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Officials in the Biden administration are growing concerned that a Russian oil price cap could backfire. Sources told Bloomberg that OPEC+'s oil production quota cut is undermining the Western effort to punish Russia. The cartel's move has already added to volatility in markets, and a price cap on Russian oil could trigger a spike in crude, they said. Putin has already signaled that the Kremlin will not sell oil to countries that participate in the price cap effort. The US has been leading the effort on the Russian oil price cap, which would coincide with the European Union's embargo on seaborne Russian oil imports that's due to take effect on December 5.

☆ Biden threatens 'consequences' for Saudi Arabia after OPEC cut, but his options are limited
▼ + stars: | 2022-10-12 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Washington has since the 1940s provided billions of dollars in military and security aid to Saudi Arabia. A file photo of cannisters containing Patriot missiles to intercept missiles fired at Saudi Arabia or its neighboring countries. We must pull all US troops out of Saudi Arabia, stop selling them weapons & end its price-fixing oil cartel." "The White House has few good options despite Biden's warning of 'consequences' after the cut," he said, noting U.S. lawmakers' threats of anti-trust legislation and removal of U.S. military assets from Saudi Arabia. While both courses of action would send a clear message, this could backfire for both the U.S. and for crude prices.

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