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☆ Foreign ministers of Iran, Saudi meet in China
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

CAIRO, April 6 (Reuters) - The foreign ministers of Iran and Saudi Arabia met in China for the first formal meeting of their most senior diplomats in more than seven years, Saudi state-run Al Ekhbariya television said, under a deal to revive ties between the regional powers. Saudi Arabia cut ties with Iran in 2016 after its embassy in Tehran was stormed during a dispute between the two countries over Riyadh's execution of a Shi'ite Muslim cleric. The relationship began worsening a year earlier, after Saudi Arabia and the United Arab Emirates intervened in the Yemen war, where the Iran-aligned Houthi movement ousted a Saudi-backed government and took over the capital, Sanaa. For Saudi Arabia, the deal could mean improved security. The kingdom has blamed Iran for arming the Houthis, who carried out missile and drone attacks on its cities and oil facilities.

☆ Iran appoints first UAE ambassador since 2016 as Gulf relations improve
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

CAIRO, April 4 (Reuters) - Iran said on Tuesday it had appointed an ambassador to the United Arab Emirates for the first time since 2016, amid a realignment of relations between Gulf states and Iran. The move comes after the UAE in August moved to upgrade ties and said it was returning its ambassador to Tehran. The UAE downgraded relations with Iran after Saudi Arabia severed ties with Iran in January 2016 after Iranian protesters stormed the Saudi embassy in Tehran following Riyadh's execution of a prominent Shi'ite cleric. The UAE, which has business and trade ties with Iran stretching back more than a century, started re-engaging with Tehran in 2019 after attacks in Gulf waters and on Saudi energy sites. Iran's newly appointed ambassador Reza Ameri had served as the director general of the Iranian expatriates office in the foreign ministry, Iranian state media said.

☆ Top Saudi, Iranian diplomats to meet in China - official, media
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

The meeting between Prince Faisal bin Farhan Al Saud and his Iranian counterpart, Hossein Amirabdollahian, will be the first formal meeting between Saudi Arabia and Iran's most senior diplomats in more than seven years. 6 in Beijing as the deal was facilitated by China," a senior Iranian official told Reuters. Saudi Arabia cut ties with Iran in 2016 after its embassy in Tehran was stormed during a dispute between the two countries over Riyadh's execution of a Shi'ite Muslim cleric. The kingdom subsequently asked Iranian diplomats to leave within 48 hours while it evacuated its embassy staff from Teheran. The relationship had worsened since 2015, after Saudi Arabia and the United Arab Emirates intervened in the Yemen war, where the Iran-aligned Houthi movement ousted a Saudi-backed government and took over the capital Sanaa.

☆ Analysis: Saudi crown prince acts to realign Mideast dynamics amid concern over US support
▼ + stars: | 2023-04-03 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +7 min

"Saudi Arabia is moving from disengagement towards engagement to allow it to focus on pushing ahead on Vision 2030," said Saudi analyst Abdulaziz Sager. A Saudi official said the United States and China are both very important partners for Riyadh. Washington and Riyadh are working on addressing common security challenges, he said. "The Saudis don’t want to be in a shooting war between Iran and the United States. Shadi Hamid of the Brookings Institution in Washington said Saudi Arabia's view that the U.S. is increasingly disengaged from the region is not entirely wrong.

☆ Saudi Arabia takes step to join China-led security bloc, as ties with Beijing strengthen
▼ + stars: | 2023-03-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Saudi Arabia's cabinet approved a decision to join a China-led security bloc, strengthening Riyadh's eastern ties in a further step away from U.S. interests. The organization further tallies four observer states — including Iran — and nine dialogue partners, counting in Saudi Arabia, Qatar and Turkey. The White House did not immediately respond to a CNBC request to comment on Saudi Arabia's new dialogue partner status in the SCO. Saudi interests have long been intertwined with those of leading SCO members China and Russia. Beijing is Riyadh's largest trading partner, with bilateral trade worth $87.3 billion in 2021, according to Reuters.

☆ Riyadh joins Shanghai Cooperation Organization as ties with Beijing grow
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

RIYADH, March 29 (Reuters) - Saudi Arabia's cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns. Saudi Arabia has approved a memorandum on granting the kingdom the status of a dialogue partner in the Shanghai Cooperation Organization (SCO), state news agency SPA said. Joining the SCO was discussed during a visit by Chinese President Xi Jinping to Saudi Arabia last December, sources have told Reuters. Dialogue partner status will be a first step within the organisation before granting the kingdom full membership in the mid-term, they said. Riyadh's growing ties with Beijing have raised security concerns in Washington, its traditional ally.

☆ Saudi, Iranian foreign ministers to meet during Muslim holy month
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] Saudi Minister of Foreign Affairs Prince Faisal bin Farhan Al-Saud attends a news conference at the Arab Gulf Summit in Riyadh, Saudi Arabia, December 9, 2022. REUTERS/Ahmed YosriMarch 27 (Reuters) - Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and his Iranian counterpart, Hossein Amirabdollahian, have agreed to meet during the ongoing Muslim holy month of Ramadan, the Saudi state news agency SPA said on Monday, under a deal to restore ties. The two ministers also agreed to hold a bilateral meeting between them during the ongoing month of Ramadan," SPA said. The deal between the regional powers, Sunni Muslim Saudi Arabia and long-time rival Shi'ite Iran, brokered by China, was announced after previously undisclosed talks in Beijing between top security officials from the two countries. Saudi Arabia cut ties with Iran in 2016 after its embassy in Tehran was stormed during a dispute between the two countries over Riyadh's execution of a Shi'ite Muslim cleric.

☆ Saudi, Iranian foreign ministers to meet to pave way to re-open embassies
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

[1/3] A newspaper with a cover picture of the flag of Iran and Saudi Arabia, is seen in Tehran, Iran March 11, 2023. Majid Asgaripour/WANA (West Asia News Agency) via REUTERSDUBAI, March 23 (Reuters) - Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and his Iranian counterpart, Hossein Amirabdollahian, have agreed to meet soon and pave the way for the re-opening of embassies under a deal to re-establish ties, Saudi state news agency SPA said on Thursday. Earlier this month, Iran and Saudi Arabia agreed to revive relations after years of hostility that had threatened stability and security in the Gulf and helped fuel conflicts in the Middle East from Yemen to Syria. Amirabdollahian emphasized during the call Iran's readiness to strengthen relations with Saudi Arabia, Iran's official news agency IRNA reported. The deal between the regional powers, Sunni Muslim Saudi Arabia and long-time rival Shi'ite Iran, brokered by China, was announced after previously undisclosed talks in Beijing between top security officials from the two countries.

☆ Iran proposes locations to Saudi Arabia for foreign minister meeting
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +2 min

[1/3] Iranian Foreign Minister Hossein Amirabdollahian speaks during a news conference in Tehran, Iran March 19, 2023. Majid Asgaripour/WANA (West Asia News Agency) via REUTERSDUBAI, March 19 (Reuters) - The Iranian government has proposed to Saudi Arabia three locations for a meeting at foreign minister level, Iran's foreign minister said on Sunday, citing the latest messages with Riyadh since the countries agreed to re-establish ties. Iranian Foreign Minister Hossein Amirabdollahian told a news conference in Tehran his country had agreed to such a meeting, although he did not list the three locations or say when such a meeting might take place. Iran and Saudi Arabia, the region's Shi'ite Muslim and Sunni powers, agreed on March 10 to re-establish relations and re-open embassies within two months after years of hostility. Amirabdollahian signalled Iran was also hoping for steps towards normalising ties with Bahrain, a close Saudi ally.

For Saudi Arabia, a deal could mean improved security. Saudi Arabia, Washington's most important Arab ally, began exploring ways to open a dialogue with the Islamic Republic two years ago in Iraq and Oman, said a Saudi official. In a bilateral meeting with Crown Prince Mohammed bin Salman, the president expressed his desire to broker dialogue between Saudi Arabia and Iran. CHINESE MEDIATION 'BEST OPTION'An Iranian official said the deal covered a range of issues, from security concerns to economic and political issues. "China was the best option considering Iran's lack of trust towards Washington and Beijing's friendly ties with Saudi Arabia and Iran.

[1/2] Saudi Crown Prince Mohammed bin Salman attends an Arab summit with U.S. President Joe Biden (not seen), in Jeddah, Saudi Arabia, July 16, 2022. If the resolution passes, the administration must submit the report within 30 days, or all security assistance to the country automatically stops. After the report is received, the act stipulates that Congress may adopt a joint resolution terminating, restricting or continuing security assistance to that country. Aides said it was too soon to assess how the resolution would be received, but they hoped it would trigger a broader conversation about human rights. Murphy, long a vocal critic of the conflict in Yemen and Riyadh's record on human rights, praised Biden for being willing to reassess ties.

☆ Middle East pivot to Asia is strategic this time
▼ + stars: | 2023-03-14 | by ( Una Galani | ) www.reuters.com time to read: +6 min

Xi Jinping has brokered a deal the United States would have found hard to secure, despite its traditional military influence in the Middle East. The Middle East has trained its financial sights on Asia before. At current rates of growth, emerging Asia will become the top trade partner for the Gulf countries by 2028, per Asia House, surpassing advanced economies. As U.S.-China relations continue to sour, the Asian financial centre is looking to the Middle East to find new foreign companies to trade in the territory. Delegations from the two Middle East countries held talks in Beijing between March 6 and 10, the statement added.

☆ Saudi sculptor steps into limelight as religious curbs ease
▼ + stars: | 2023-03-13 | by ( Mohammed Benmansour | ) www.reuters.com time to read: +3 min

[1/3] Awatif Al-Keneibit, a Saudi artist, shows her art in her studio, an art-form previously frowned upon in the country but now gaining more acceptance, in Riyadh, Saudi Arabia, March 9, 2023. Her exposition includes ceramic faces, some with hollow eyes, others wearing eye glasses, and figurines of Saudi Arabian women, displayed on red bricks and coloured to reflect traditional desert dresses. "Who could have imagined that one day, this exhibition, which was in a basement, could be displayed in Olaya (downtown Riyadh)?" said Keneibit, 60, who is blazing a trail for women in the arts in Saudi Arabia's conservative male-dominated society. U.S.-educated Keneibit said she resorted to creating a private gallery at the bottom of her house for friends and guests after a public exhibition was banned in 2009.

☆ Saudi Arabia has announced a new airline to bring in tourists as it tries to attract 100 million visitors to the kingdom by 2030
▼ + stars: | 2023-03-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Saudi Arabia announced a new airline that will connect its capital city to over 100 destinations worldwide. On Sunday, Crown Prince Mohammed bin Salman announced Riyadh Air — a new national airline that will connect Saudi Arabia to over 100 destinations across the globe by 2030. But cultural clashes may deter tourists from entering Saudi Arabia's newly opened doors. However, some experts say travelers should look at the bigger picture before blacklisting Saudi Arabia as a leisure destination, and consider the opportunity as a learning experience. "Frankly, it would be hard to name a single destination with a clean record on the environment, animal welfare, and human rights."

Tehran and Riyadh agreed "to resume diplomatic relations between them and re-open their embassies and missions within a period not exceeding two months", according to a statement issued by Iran, Saudi Arabia and China. Saudi Arabia blamed Iran for missile and drone attacks on the kingdom’s oil facilities in 2019 as well as attacks on tankers in Gulf waters. In Friday's agreement, Saudi Arabia and Iran also agreed to activate a security cooperation agreement signed in 2001, as well as another earlier accord on trade, economy and investment. The agreement was signed by Iran's top security official, Ali Shamkhani, and Saudi Arabia's national security adviser Musaed bin Mohammed Al-Aiban. Saudi Arabia cut ties with Iran in 2016 after its embassy in Tehran was stormed during a dispute between the two countries over Riyadh's execution of a Shi'ite Muslim cleric.

☆ 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.

☆ Davos 2023: Riyadh city developing fast with eye on Expo 2030 bid
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

DAVOS, Switzerland, Jan 19 (Reuters) - Saudi Arabia, which has bid to host the Expo 2030 world fair, is pushing ahead with plans to turn its capital Riyadh into a major global metropolis, a government official said on Thursday. Should Riyadh win Expo hosting rights it would be ready, but the build-up, which includes an additional 120,000 hotel rooms by 2030, was needed regardless to meet tourism goals, he said. The host country for the 2030 Expo is expected to be selected in November. Asked if alcohol would be allowed in Riyadh by 2030, Al Rasheed said: "No, but I think you can ... consider it a wellness detox." If Saudi Arabia wins its bid it would be the second Arab country to host Expo after the United Arab Emirates.

☆ Biden promised a reckoning when Saudi Arabia crossed him. 3 months later, it is clear he's backed down.
▼ + stars: | 2023-01-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

President Joe Biden had pledged to hold Saudi Arabia to account over cutting oil supplies. It came after Saudi Arabia and Russia cut oil supplies, sparking inflation fears. In concert with Russia, Saudi Arabia had cut oil production, an economic kick in the shin for the US just in time for the midterm elections. Three months later, Saudi Arabia and its crown prince, Mohammed bin Salman, remain unpunished. Cafiero noted a series of other developments he said had focused minds in both the US and Saudi Arabia on common interests.

☆ After World Cup, Qatar sets sight on reviving its stock market
▼ + stars: | 2023-01-10 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +3 min

Qatar, the world's top LNG exporter and recent host of the FIFA World Cup 2022, is turning its attention to diversifying its economy away from gas. That strategy includes building its equities market by opening it up to a wider investor base and introducing more listings. "Now that the World Cup has been successfully hosted, we can see the focus is shifting to other diversification areas," said Osama Ali, HSBC's head of global banking in Qatar. With a market capitalisation of about $158.2 billion, Doha's exchange is dwarfed in size by Abu Dhabi's $718.8 billion and Riyadh's $2.72 trillion. ($1 = 3.6580 Qatar riyals)Reporting by Hadeel Al Sayegh; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia's new love for soccer could cause ripple effects across the sports world
▼ + stars: | 2023-01-06 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

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. Al Nassr Football Club / Handout/Anadolu Agency via Getty ImagesSoccer superstar Cristiano Ronaldo's move to Saudi club Al-Nassr, and the kingdom's growing investments in the sport, could have ripple effects across Europe and the U.S., experts have told CNBC. The former Real Madrid, Manchester United and Juventus star earlier this week contended that the "unique contract" was befitting of his status as a "unique player." The Financial Times reported in October that the Saudi PIF had committed more than $2 billion to sponsorship deals over the first eight months of 2022, most of which was directed toward domestic soccer competitions. The Saudi PIF's takeover of Newcastle United was met with criticism across the soccer world — deemed an effort to launder the country's reputation against the backdrop of a poor human rights record.

☆ Saudi Aramco's Luberef sets final IPO offer price at $26.3/shr
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Dec 12 (Reuters) - Oil giant Saudi Aramco's (2222.SE) base oil subsidiary Luberef has set the final offer price for its upcoming initial public offering (IPO) at 99 riyals ($26.33) a share, at the top end of the price range amid strong demand. The pricing implies a market capitalisation of SAR 16.7 billion riyals ($4.44 billion), the company said in a statement. Saudi investment bank Jadwa, is the selling shareholder, offering its 30% share in the company to investors. Luberef received $30 billion in orders from institutional investors during the book building process, the company statement said, signalling continued strong demand for Gulf IPOs this year. SNB Capital Company, HSBC Saudi Arabia, Citigroup Saudi Arabia and Morgan Stanley Saudi Arabia are joint financial advisers on the IPO, with SNB Capital also acting as lead manager.

☆ US slaps down Saudi claim it helped secure Brittney Griner's release, undermining Riyadh's efforts to be a global power player
▼ + stars: | 2022-12-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

The US pushed back after Saudi Arabia and the UAE said they helped free Brittney Griner. The White House insisted that the only two parties to the prisoner swap were it and Russia. Saudi Arabia has repeatedly upset the US with attempts to take a bigger, independent global role. The Saudi Arabia and the UAE in a joint statement Thursday said that UAE President Sheikh Mohammed bin Zayed and Saudi Crown Prince Mohammed bin Salman had helped mediate the exchange. When asked about it at a White House press briefing, press secretary Karine Jean Pierre pushed back.

☆ China to use Shanghai exchange for yuan energy deals with Gulf nations - Xi
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 9 (Reuters) - China's President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade. China and states of the Gulf Cooperation Council (GCC) are natural partners for cooperation, Xi said in a speech at the China-GCC summit. In his speech, Xi proposed other areas for cooperation in the next three to five years, including finance and investment, innovation and new technologies, as well as aerospace, and language and cultures. China will also establish bilateral investment and economic cooperation working mechanisms, carry out local currency swap cooperation and deepen digital currency cooperation, he said. In his speech, Xi also called on China and GCC nations to be partners in promoting unity, development and security.

Leaders of Arab League states spanning the Gulf, Levant and Africa began arriving in Riyadh on Thursday when Xi received a lavish reception by Prince Mohammed and signed a China-Saudi partnership pact with King Salman, demonstrating deepening ties. Oil giant Saudi Arabia is a top supplier to China and the joint statement reaffirmed the importance of global market stability and energy collaboration, while striving to boost non-oil trade and enhance cooperation in peaceful nuclear power. Xi invited King Salman to visit China, Saudi state television reported. Diplomats said the Chinese delegation would sign agreements and memoranda of understanding with several states in addition to Saudi Arabia, which inked an MOU with Huawei on cloud computing and building high-tech complexes in Saudi cities. The Chinese tech giant has participated in building 5G networks in most Gulf states despite U.S. concerns over a possible security risk in using its technology.

☆ China, Saudi Arabia stress importance of oil market stability as Xi visits Riyadh
▼ + stars: | 2022-12-09 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Chinese President, Xi Jinping (L) is welcomed by Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud (R) at the Palace of Yamamah in Riyadh, Saudi Arabia on December 8, 2022. China and Saudi Arabia stressed the importance of global oil market stability and Riyadh's role in achieving this balance, following a three-day Saudi visit by Chinese President Xi Jinping. China is the world's largest crude oil importer, while Saudi Arabia is the greatest exporter of such resources and chairs the influential OPEC+ producers' alliance. Xi met both King Salman bin Abdul-Aziz Al Saud and his heir, Crown Prince and Saudi Prime Minister Mohammed bin Salman, according to Chinese official news agency Xinhua. The Chinese head of state has extended an invitation for King Salman to visit China "at a mutually convenient time," the statement said.

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