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Search resuls for: "Future Investment Initiative"


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☆ Saudi forum set to draw U.S. business leaders despite tensions
  + stars: | 2022-10-23 | by ( Rachna Uppal Yousef Saba | Rachna Uppal | Yousef Saba | ) www.reuters.com   time to read: +5 min
General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. JPMorgan and Goldman Sachs made nearly $77 million and $42 million respectively in investment banking fees in Saudi Arabia last year, Refinitiv data showed. "For the most part, I do not see U.S. companies actively avoiding Saudi Arabia due to recent political tensions," said Adel Hamaizia, managing director at Highbridge Advisory and a visiting fellow at Harvard University. FDI FLATForeign direct investment still lags behind targets, though there has been movement in new sectors as the kingdom opens up. As Boeing netted an $80 million defence contract last year, Fedex announced a $400 million 10-year investment plan in the country, the Arab world's biggest economy.
☆ Biden admin officials consider discouraging U.S. companies from expanding business ties with Saudi Arabia
  + stars: | 2022-10-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Carol-Lee-Circle-Byline-Template.Jpg | Carol E. Lee | ) www.nbcnews.com   time to read: +8 min
WASHINGTON — Biden administration officials are considering trying to discourage American companies from expanding business ties with Saudi Arabia as part of a U.S. response to a recent Saudi-led push by oil-producing countries to cut global production, said three current and former U.S. officials familiar with the discussions. The Trump administration sent the treasury secretary to the conference, whereas last year the Biden administration sent Deputy Commerce Secretary Don Graves. “That’s going to be a key test, that OPEC meeting,” the senior administration official said. Early last year Riyadh announced that starting in 2024 only international companies with regional headquarters in Saudi Arabia could do business with the Saudi government. Before the OPEC+ decision this month, U.S. and Saudi officials spent hours discussing the future of oil prices, according to administration officials.
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