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☆ Nigeria gets refineries investment, forex pledge from Saudi Arabia
▼ + stars: | 2023-11-10 | by ( Felix Onuah | ) www.reuters.com time to read: +3 min

REUTERS/Temilade Adelaja/File Photo Acquire Licensing RightsABUJA, Nov 10 (Reuters) - Nigeria and Saudi Arabia on Friday agreed to a series of investment and cooperation deals, including a pledge by the Saudi government to invest in the revamp of Nigeria's oil refineries and provide financial support to sustain the government's foreign-exchange reforms. Under Tinubu, Nigeria has embarked on the boldest reforms in decades, scrapping a popular petrol subsidy and unifying the country's multiple exchange rates as part of measures "aimed at improving the ease of doing business." Information Minister Mohammed Idris said the Saudi government pledged to make "a substantial deposit of foreign exchange to boost Nigeria's forex liquidity". "Nigeria and Saudi Arabia have always enjoyed a special relationship at both the bilateral and multilateral levels. The two leaders agreed to work together over the next six months to "develop a comprehensive road map and blueprint" to deliver on the investments, Idris said.

Persons: Bola Tinubu, Temilade, Saudi Crown Prince Mohammed bin Salman, Mohammed Idris, Idris, Tinubu, Ajuri Ngelale, Boko, Felix Onuah, Elisha Bala, Emelia Sithole, Matthew Lewis, David Evans Organizations: REUTERS, Rights, Saudi Crown, Saudi Aramco, Thomson Locations: Abuja, Nigeria, Rights ABUJA, Saudi Arabia, Saudi, Africa, Riyadh, Tinubu, Africa's

Net profit fell to $32.6 billion for the quarter to Sept. 30, above the $31.8 billion expected by 12 analysts in a company-provided forecast. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties, which are linked to Brent prices. Chevron (CVX.N) and Exxon Mobil (XOM.N) last month reported sharp year-on-year falls in third-quarter profit as energy prices cooled. Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Back in 2021, Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, said that Saudi Aramco would sell more shares, with the proceeds going to bolster the PIF, the Vision 2030's main funding source.

Persons: Brent, Aramco's, Dado Ruvic, Prince Mohammed bin Salman, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely, Tomasz Janowski Organizations: DUBAI, Saudi Aramco, Chevron, Exxon Mobil, Reuters Graphics, OPEC, Aramco, REUTERS, Investment Fund, Energy, RBC, Riyadh bourse, Wall Street, Thomson Locations: Saudi, Reuters Graphics Saudi Arabia, Saudi Arabia, Aramco, Riyadh

☆ New orders lift Saudi non-oil business activity growth to four-month high
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

New business expanded faster with the new orders subindex surging to 66.1 in October, also a four-month high, from 64.2 the previous month. The growth in output and new business was spread across most sectors, including manufacturing and construction, the survey showed. Growth in output remained high although the subindex eased to 60.1, weaker than the long run trend. The employment subindex rose to a nine-year high of 54.5 in October from 52.0 in September. The government estimates non-oil economic growth in 2023 of around 6%, significantly outperforming overall GDP growth.

Persons: Naif Al, Ghaith, Prince Mohammed bin Salman, Rachna Uppal, Hugh Lawson Organizations: Bank Saudi, Riyad Bank, Thomson Locations: DUBAI, Saudi Arabia, Bank Saudi Arabia, Saudi

☆ Saudi Arabia eyes stake in $30 bln Indian Premier League - Bloomberg News
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league, Bloomberg News reported on Friday, citing people familiar with the matter. Saudi Arabian Crown Prince Mohammed bin Salman's advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, the report said. The Board of Control for Cricket in India (BCCI), the custodian of the IPL, did not immediately respond to Reuters' request for a comment. IPL is one of the richest leagues in the world and has been attracting top players and coaches to India since its inaugural edition in 2008. Reporting by Nilutpal Timsina in Bengaluru; Editing by Shinjini Ganguli and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Saudi Arabian Crown Prince Mohammed bin, Nilutpal, Shinjini Ganguli, Shilpi Majumdar Organizations: Indian Premier League, Bloomberg, Saudi Arabian Crown, IPL, Control, Cricket, BCCI, Reuters, Thomson Locations: Saudi Arabia, Saudi, India, Bengaluru

GENEVA (AP) — The near certainty that Saudi Arabia will host the 2034 men's World Cup unites two of the most influential men in world sports: the leader of soccer's governing body and the kingdom's crown prince. In the case of Saudi Arabia, U.S.-based journalist Jamal Khashoggi was slain inside the Saudi Consulate in Istanbul in 2018. The men’s World Cup should earn Switzerland-based FIFA more than $10 billion in almost entirely tax-free revenue. “Mohammed bin Salman wants Saudi Arabia to be a hub of anything and everything,” Middle East expert James Dorsey said. Then came the COVID-19 pandemic and FIFA canceled the planned June 2021 relaunch in China of its Club World Cup event.

Persons: Gianni Infantino, Prince Mohammed bin Salman, sportswashing, Jamal Khashoggi, Prince Mohammed, Infantino, King Salman, Prince Mohammed's, “ Abraham, ”, Donald Trump, ” Infantino, Mohammed's, Cristiano Ronaldo, “ Mohammed bin Salman, James Dorsey, Greece —, —, Australia –, they’ve, James Johnson, “, Yasser Al Misehal –, – Organizations: GENEVA, FIFA, Australia, Qatar, White House, “ Abraham Accords, United Arab, Soccer, Newcastle, Russia, Saudi, ” Football Australia, ” FIFA, FIFA Council, Fox News Locations: Saudi Arabia, Persian, Saudi, U.S, Istanbul, Riyadh, Switzerland, Gulf, Israel, United Arab Emirates, Bahrain, Europe, Swiss, China, Qatar, United States, Canada, Mexico, Egypt, Greece, Africa, South America, Asia, Oceania, Saudi Arabian, Australia

GENEVA (AP) — Saudi Arabia is all but certain to host the men's 2034 World Cup after the Australian soccer federation declined to enter the bidding contest. “We have explored the opportunity to bid to host the FIFA World Cup and — having taken all factors into consideration — we have reached the conclusion not to do so for the 2034 competition,” Football Australia said in a statement. Indonesia’s football association initially showed interest in a joint bid with Australia, potentially alongside Malaysia and Singapore, but that faded when Indonesia instead backed Saudi Arabia. Australia and New Zealand successfully co-hosted the Women's World Cup in July and August. Saudi Arabia also will host the men's Asian Cup in 2027 and has started a widespread construction program to build and renovate stadiums that likely also will be used for the World Cup.

Persons: “, LIV, Saudi Crown Prince Mohammed bin Salman, Jamal Khashoggi, Gianni Infantino, Australia —, Minky Worden, ” Worden, ___ Organizations: GENEVA, FIFA, ” Football Australia, Newcastle, Saudi Crown, South America — FIFA, Asian Football Confederation, AFC, Qatar, soccer, Australia, New Zealand, Saudi, Rights Locations: Saudi Arabia, Australian, Saudi, Spain, Portugal, Morocco, South, Asia, Oceania, Australia, Qatar, Malaysia, Singapore, Indonesia, New, Brisbane, Queensland

☆ Saudi Arabia Is Set to Be Sole Bidder for 2034 World Cup
▼ + stars: | 2023-10-31 | by ( Tariq Panja | More About Tariq Panja | ) www.nytimes.com time to read: +1 min

FIFA’s move to speed up the bidding for 2034 surprised many, coming 11 years before the scheduled start of the tournament and a full three years before the 2034 host was supposed to be decided. FIFA also said only bidders from Asia and Oceania, two of soccer’s six regional confederations, could be considered for selection. Saudi Arabia, which had for years been public about its desire to host the World Cup, moved fast to secure the tournament after FIFA set the rules this month. In the face of that support, Australian officials concluded they would have been overmatched if they challenged Saudi Arabia to secure the votes of the majority of FIFA’s 211 federations. Saudi Arabia has signed agreements in the past year with scores of FIFA’s member nations, committing millions of dollars to projects across Asia and lavishing attention on Africa, where it signed an agreement with the regional governing body and sponsored a new tournament.

Persons: Prince Mohammed bin Salman, Sheikh Salman bin Ibrahim al Khalifa Organizations: FIFA, Saudi Locations: Asia, Oceania, Saudi Arabia, Bahrain, Australia, Africa, Tashkent, Uzbekistan, Saudi Arabian

☆ Saudi Arabia set to host 2034 World Cup after Australia decides not to bid
▼ + stars: | 2023-10-31 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Saudi Arabia looks set to be the host of the 2034 World Cup after the only other country to have shown an interest in hosting — Australia — made a last-minute decision not to bid. Some fans were also frustrated at the location, as the World Cup took place in the winter due to the Gulf region's soaring summer temperatures. The 2030 FIFA World Cup, meanwhile, will be hosted by Morocco, Spain and Portugal, with the three opening matches to be played in South America. Saudi Arabia is criticized for its well-documented human rights violations, abuses of women's rights and criminalization of homosexuality. Amnesty International reported that Saudi Arabia in 2022 oversaw the highest number of yearly executions in 30 years, with 196 people killed.

Persons: Australia —, Prince Mohammed bin Salman Organizations: Australia, Football Australia, Amnesty International, Saudi Locations: Saudi Arabia, Qatar, Morocco, Spain, Portugal, South America, Saudi

☆ Saudi Arabia set to host 2034 World Cup as Australia withdraws interest
▼ + stars: | 2023-10-31 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +4 min

CNN —Saudi Arabia is set to host the 2034 men’s FIFA World Cup after Australia withdrew its interest in hosting the global showpiece just hours before the bid deadline on Tuesday. Instead the Australia football federation has opted to proceed with their bids for the Women’s Asian Cup in 2026 and the FIFA Club World Cup in 2029. In a press release sent out on Tuesday, FIFA confirmed that Saudi Arabia was the only bidder for the 2034 tournament. In 2022, Oleksandr Usyk beat Anthony Joshua at the King Abdullah Sports City Arena in Jeddah, Saudi Arabia in a heavyweight title clash. To host the World Cup would be viewed as a major coup for Saudi Arabia, which has been frequently been criticized of sportswashing.

Persons: “, Oleksandr Usyk, Anthony Joshua, Andrew Couldridge, Prince Mohammed bin Salman, Luca Bruno, ”, Steve Cockburn Organizations: CNN, FIFA, Australia, ” Football Australia, FIFA Club, FIFA Council, ” FIFA, King Abdullah Sports City Arena, Formula One, Saudi Pro League, sportswashing, MBS, Fox News, Sports & Rights Alliance, Getty, Economic, Social, “ FIFA, Rights, Saudi Arabia Football Federation Locations: Saudi Arabia, Asia, Oceania, Spain, Portugal, Morocco, Uruguay, Paraguay, Argentina, Jeddah, Saudi Arabian, Saudi

☆ Dagestan riot: Anti-Jewish protest in Russia’s Dagestan shows risks of Putin’s balancing act on Hamas
▼ + stars: | 2023-10-31 | by ( Nathan Hodge | ) edition.cnn.com time to read: +10 min

“Threats to exterminate the Jews are the result of the work of Russian state propaganda, which for decades cultivated feelings of hatred towards other peoples among Russians,” he noted. Kadyrov has also provided footsoldiers for Russia’s war in Ukraine. The Gaza war adds one more match to the fire. Additionally, Russia’s war in Ukraine has impacted Dagestan heavily, with significant casualties. But an anti-Jewish riot in the southern region of Dagestan shows how quickly that model can backfire, particularly for those trapped inside the echo of Russian state propaganda.

Persons: Vladimir Putin, –, Matthew Miller, Israel, ”, Putin, ” Putin, “, Bashar al, Assad, Prince Mohammed bin Salman, Benjamin Netanyahu, Strategic Communications John Kirby, “ we’ve, ” Kirby, Volodymyr Zelensky, Oleh Nikolenko, Ramzan Kadyrov, – Kadyrov, Kadyrov, Harold Chambers, Riddle, Yevgenia Albats Organizations: CNN, multiconfessional, Ukraine –, Kremlin, Red Wings Airlines, Tel Aviv –, Jewish, Authorities, Ministry of Foreign Affairs, Hamas, Israel’s Ministry of Foreign Affairs, Sunday, Saudi, Israeli, National Security, Strategic Communications, ” Observers, Criminal Court, ICC, Russian National Guard, AFP, Getty, Ukrainian Foreign Ministry, Global Locations: Russia, Dagestan, Makhachkala Uytash, Ukraine, Gaza, Tel Aviv, ”, Russian, Makhachkala, Palestine, Beijing, China, Israel, Jerusalem, Moscow, Iran, United States, Chechnya, Chechen, Russia’s, Kremlin, East

☆ 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

☆ Tiger Woods: How the battle for golf’s soul gave the US golfer new-found purpose – and human connection
▼ + stars: | 2023-10-25 | by ( Don Riddell | ) edition.cnn.com time to read: +22 min

CBS Archive/Getty Images Woods, 6, sizes up a putt in Los Alamitos, California, in 1982. Getty Images/Getty Images Woods hits a tee shot during the 1995 Walker Cup, an international team event. Alexander Hassenstein/Bongarts/Getty Images Woods plays a shot from the ninth fairway during the 2000 US Open in Pebble Beach, California. David Cannon/Getty Images Woods falls to the ground in pain after hitting a shot at The Barclays in August 2013. Jamie Squire/Getty Images Woods and his son, Charlie, warm up before the final round of the PNC Championship in December 2020.

Persons: Woods, Alan Shipnuck, LIV, ” Shipnuck, ” Bryson DeChambeau, Paul Casey, Crushers, Charles Howell III, Anirban Lahiri, Chris Trotman, “ Tiger’s, “ He’s, he’s, “, “ LIV, Greg Norman, Quentin Tarantino, Brooks Koepka, Koepka, David J, Phillip, Mike Douglas, Bob Hope, Jack D, Miller, AP Woods, Rick Dole, Bob Galbraith, David Cannon, Robert Beck, Patrick Murphy, Nike — Woods, Lennox McLendon, Stephen Munday, Earl, Dave Martin, Alexander Hassenstein, Jonathan Ferrey, He's, Andy Lyons, Allsport, Bob May, Fred Vuich, Jack Nicklaus, Nicklaus, Logan Mock, Bunting, Phil Mickelson, Mickelson, Matthew Stockman, Steve Williams, Harry, Williams, Sam, Damian Dovarganes, Rocco, Gary A, Vasquez, Barack Obama, Pete Souza, Stuart Franklin, Elin, Charlie, Ezra Shaw, Eric Gay, Jimmy Fallon, Lloyd Bishop, Arnold Palmer, Chris Condon, Jason Dufner, Lindsey Vonn, Marco Trovati, Lannis, John Amis, Donald Trump, Getty Images Woods, Warren Little, Jamie Squire, Ben Jared, Wally Skalij, Shutterstock Woods, Tiger, Sam Greenwood, Cliff Hawkins, Jonathan Ernst, they’re, Shipnuck, ‘ I’m, Justin Thomas, I’m, ”, they’ve, what’s, Rory McIlroy, Rory, “ Rory, Bryson DeChambeau, ’, he’d, DeChambeau, “ Patrick Reed, Sergio García, “ Phil Mickelson, HyFlyers, Suhaimi Abdullah, Jay Monahan, Yasir Al, Rumayyan, Phil Mickelson’s, Jamal Khashoggi, Prince Mohammed bin Salman, Prince, Mohammad Bin Salman, Reed, Garcia Organizations: CNN, CNN Sport, PGA Tour, LIV, Miami, PGA, Saudi, Public Investment Fund, CBS, AP, Tiger, US Junior Amateur, Getty, Los Angeles, Tour, Stanford University, NCAA, Nike —, Las Vegas, Green, Army, Tiger Woods Foundation, Ford, British, Woods Learning, USA, Office, Stanford, NBCU, Bank, Bay, Invitational, Barclays, Trump, Getty Images, PNC, Law, Los Angeles Times, PNC Championship, Hall of Fame, Reuters, HyFlyers GC, Sentosa Golf, European, MBS, Fox News, ” CNN Locations: Los Angeles, Saudi, Delaware, Tiger’s, Los Alamitos , California, Vietnamese, Vietnam, Orange, United States, France, Hamburg, Germany, Pebble Beach , California, St . Andrews, Scotland, Louisville , Kentucky, Fort Bragg , North Carolina, Hoylake, England, Anaheim , California, Woods, Dublin , Ohio, Beaver Creek , Colorado, Atlanta, Rancho Palos Verdes , California, Pacific Palisades , California, Singapore, London, McIroy

WASHINGTON (AP) — The White House said Tuesday that “prudent contingency planning” is underway to evacuate Americans from the Middle East in case the Israel-Hamas war spreads into a broad regional conflict. “And certainly evacuations are one of those things.”The White House addressed the contingency plans amid growing concerns that the 18-day-old Israel-Hamas war could further escalate. “The two leaders agreed on pursuing broader diplomatic efforts to maintain stability across the region and prevent the conflict from expanding,” the White House added. But talks were interrupted after Hamas militants stormed from the blockaded Gaza Strip where Palestinians live into nearby Israeli towns. “This is a happy occasion," Biden said at the start of the White House ceremony.

Persons: John Kirby, ”, ” Kirby, Israel, Joe Biden, Saudi Arabian Crown Prince Mohammed bin Salman, Biden, ” Biden, Israel ”, Sheldon Weinbaum, “ Organizations: WASHINGTON, White, National Security, U.S, The Washington Post, Saudi Arabian Crown, Hamas, Biden, Pentagon, Gaza, City College of New, West Bank Locations: Israel, U.S, Gaza, Iran, Lebanon, Iraq, Yemen, Saudi Arabia, Washington, United States, City College of New York, israel

☆ South Korea's Hyundai, Saudi Aramco clinch $2.4 bln gas plant deal
▼ + stars: | 2023-10-24 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

[1/2] General view of the summit between President of South Korea, Yoon Suk-Yeol and Saudi Arabia's Crown Prince, Mohammed bin Salman in al Yamamah Palace in Riyadh, Saudi Arabia October 22, 2023. Saudi Press Agency/Handout via REUTERS Acquire Licensing RightsSEOUL, Oct 24 (Reuters) - South Korea's Hyundai Engineering & Construction (000720.KS) and Hyundai Engineering have signed a $2.4 billion contract with oil giant Saudi Aramco (2222.SE) to build a gas processing plant, Seoul's presidential office said on Tuesday. Jafurah is Saudi's largest unconventional non-oil associated gas field, with reserves estimated at 200 trillion cubic feet (5.7 trillion cubic metres) of raw gas. State-run Korea National Oil Corp also clinched a storage deal with Aramco during Yoon's visit that allows the Saudi company to store 5.3 million barrels of oil in South Korea's reserve facilities in the port of Ulsan for five years. After a four-day stay in Riyadh, Yoon left for Doha on Monday where he will attend an international horticultural expo before holding a summit on Tuesday with Qatar's Emir Sheikh Tamim bin Hamad al-Thani, his office said.

Persons: Yoon Suk, Saudi Arabia's Crown Prince, Mohammed bin Salman, Yoon Suk Yeol, Yoon, Saudi Crown Prince Mohammed bin Salman, Emir Sheikh Tamim bin Hamad, Hyonhee Shin, Tom Hogue Organizations: Saudi Arabia's Crown, Saudi Press Agency, Handout, REUTERS Acquire, Rights, Hyundai Engineering, Construction, Saudi Aramco, South Korean, Hyundai Motor Group, Hyundai, Aramco, Saudi Crown, Saudi, Hamas, Korea National Oil Corp, Doha, Thomson Locations: South Korea, al Yamamah, Riyadh, Saudi Arabia, Rights SEOUL, Saudi, Israel, South Korea's, Ulsan, Thani

☆ Saudi mega-city NEOM sets up $10 bln JV with Denmark's DSV
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

General view of NEOM in northwestern Saudi Arabia, January 11, 2021. REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsDUBAI, Oct 24 (Reuters) - Saudi Arabia's $500 billion flagship project NEOM on Tuesday set up a $10 billion joint venture (JV) with Denmark's DSV (DSV.CO), the world's third-largest freight forwarder, they said in a joint statement. "The partnership will focus on providing logistics services for NEOM in the coming years," the statement said, adding NEOM will hold 51% of the joint venture and DSV 49%. "The joint venture will provide end-to-end supply chain management, development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM," the companies said. The kingdom's sovereign wealth fund, the Public Investment Fund, is the cornerstone investor in NEOM, a 26,500-square-km (10,230-square-mile) high-tech development on the Red Sea.

Persons: Hamad I Mohammed, Saudi Arabia's Crown Prince Mohammed bin Salman, Yousef Saba, Jason Neely Organizations: REUTERS, Rights, Denmark's, Saudi Arabia's Crown, NEOM, Public Investment Fund, Thomson Locations: Saudi Arabia, Rights DUBAI, Saudi, NEOM

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. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 24 (Reuters) - U.S. President Joe Biden and Saudi Arabian Crown Prince Mohamed bin Salman on Tuesday discussed efforts to prevent the Israel-Hamas conflict from widening, the White House said. Biden and the Saudi crown prince welcomed the delivery of humanitarian assistance from Egypt into Gaza and recognized that "much more is needed for civilians" to have sustained access to food, water and medical assistance, according to the White House. They both welcomed ongoing efforts to secure the release of hostages held by Hamas and called for their immediate release, the White House added. Biden and U.S. Secretary of State Antony Blinken have said they thought Hamas' Oct. 7 assault on Israel that left over 1,400 people dead was in part motivated to disrupt a potential normalization of ties between Israel and Saudi Arabia.

Persons: Prince Mohammed bin Salman, Joe Biden, Mohamed bin Salman, Biden, Antony Blinken, Donald Trump, John Kirby, Kanishka Singh, Ismail Shakil, Chris Reese, Chizu Nomiyama, Cynthia Osterman Organizations: Al, Saudi Royal Court, REUTERS, Rights, Saudi Arabian, White, Hamas, U.S, United, White House, Thomson Locations: Saudi, Jeddah, Saudi Arabia, Bandar, Israel, Egypt, Gaza, United States, United Arab Emirates, Bahrain, Riyadh, Gulf

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy, World Bank President Ajay Banga said. The conflict could upset the stability of the Middle East just as regional powerhouse Saudi Arabia pours hundreds of billions of dollars into a vast economic transformation plan. Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war rages between Israel and Hamas. The last year has seen Saudi Arabia spend billions on companies, from sports to gaming to aviation.

Persons: Ahmed Yosri, Ajay Banga, Banga, Laurence Fink, Fink, Goldman Sachs, David Solomon, JPMorgan's, Jamie Dimon, Jane Fraser, Ray Dalio, Dalio, Noel Quinn, Bill Winters, Barack Obama, Yasser al, Salomon, Hess, Stephen Schwarzman, Schwarzman, Prince Mohammed bin Salman, Joe Biden's, Richard Attias, Rosario, Amanda Cooper, Alun John, Michael Georgy, Anousha, John O'Donnell, Susan Fenton Organizations: Future Investment Initiative, REUTERS, Rights, Saudi Arabia's, Hamas, BlackRock, Bridgewater Associates, HSBC, Former U.S, U.S, Saudi Telecom Corp, Telefonica, Investment Fund, Chevron, Blackstone Group, Investment Initiative, Saudi, FII, Reuters, Jorgelina, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, Israel, Davos, Swiss, Gaza, Europe, Asia, London

[1/5] Smoke is rising after an Israeli strike on Gaza seen from a viewpoint in Southern Israel October 24, 2023. US, RUSSIA OFFER RIVAL PROPOSALSAt the United Nations, the United States and Russia put forward rival plans on humanitarian aid for Palestinian civilians. Washington has called for pauses and Russia wants a humanitarian ceasefire. Arab states firmly back a call for a humanitarian ceasefire amid widespread destruction of Gaza's buildings in Israel's aerial bombardment. United Nations Secretary-General Antonio Guterres last week called for an immediate humanitarian ceasefire in Gaza.

Persons: Violeta Santos Moura, Joe Biden, Saudi Arabian Crown Prince Mohammed bin Salman, Israel, Iran's U.N, Amir Saeid Iravani, Antony Blinken, Vassily Nebenzia, Sameh Shoukry, Antonio Guterres, Justin Trudeau, Nidal al, Emily Rose, Andrew Mills, Michelle Nichols, Humeyra Pamuk, Grant McCool, Howard Goller, Cynthia Osterman Organizations: REUTERS, UN, Tuesday, Saudi Arabian Crown, White, West Bank, Washington, Security, United Nations, Palestinian, UNRWA, quicken, U.S, Hamas, Thomson Locations: Gaza, Southern Israel, Iran, Israel, Russia, Saudi, GAZA, JERUSALEM, United States, Canada, Palestinian, Egypt, U.S, Lebanon's Iran, Lebanon, Iran's, RUSSIA, Washington, Ottawa, Gulf

☆ Saudi Arabia launches Esports World Cup - statement
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Saudi Arabia's Crown Prince, Mohammed bin Salman speaks with FOX News Channel, in an interview aired September 21, 2023, Neom, Saudi Arabia, Saudi Press Agency/Handout via REUTERS/File Photo Acquire Licensing RightsRIYADH, Oct 23 (Reuters) - Saudi Arabia said on Monday it was launching an annual Esports World Cup, which will include the most popular games in the world and have the largest prize pool in esports history. The competition will be held annually in Riyadh starting summer 2024, a statement from Saudi Crown Prince Mohammed bin Salman said. Clubs will compete across games from various genres to become the ultimate Esports World Cup champion, the statement said. Saudi Arabia's Savvy Games Group, owned by sovereign wealth fund PIF, said last year it will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making Saudi Arabia a global hub for gaming. "The Esports World Cup is the natural next step in Saudi Arabia's journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry," the crown prince was quoted in the statement as saying.

Persons: Crown Prince, Mohammed bin Salman, Saudi Crown Prince Mohammed bin Salman, Aziz El Yaakoubi, Ros Russell Organizations: Saudi, Crown, FOX News, Saudi Press Agency, Handout, REUTERS, Rights, Saudi Crown, Clubs, Sports, Thomson Locations: Neom, Saudi Arabia, Rights RIYADH, Riyadh, Saudi

☆ Hyundai to build Saudi car plant jointly with Saudi wealth fund
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsRIYADH, Oct 22 (Reuters) - South Korea's Hyundai Motor Group (005380.KS) will build a car plant in Saudi Arabia jointly with the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, South Korea's President Yoon Suk Yeol said on Sunday. Hyundai Motor Group, the world's No. Yoon visited Saudi Arabia where he met with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler. Yoon traveled with a delegation of business leaders including Hyundai Motor Group Executive Chair E.S.

Persons: Andrew Kelly, Yoon Suk Yeol, Yoon, Saudi Crown Prince Mohammed bin Salman, Chung, Prince Mohammed, Pesha Magid, Heekyong Yang, Aziz El Yaakoubi, John Stonestreet, David Holmes Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai Motor Group, Public Investment Fund, South, Hyundai, South Korean, Saudi Crown, Thomson Locations: Manhattan , New York City, U.S, Rights RIYADH, KS, Saudi Arabia, Saudi, Riyadh, Gulf

☆ South Korea's Yoon Departs for Saudi Arabia and Qatar
▼ + stars: | 2023-10-21 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

SEOUL (Reuters) - South Korean President Yoon Suk Yeol left for Saudi Arabia and Qatar on Saturday to discuss business cooperation as well as to discuss security conditions amid the crisis in the Middle East, his office said. Yoon, in what would be the first state visit by a South Korean leader, will hold talks with Saudi Crown Prince Mohammed bin Salman on Sunday, and will travel to Qatar on Oct. 24-25 for a summit and to attend a business forum. The state visit takes place roughly a year after the Saudi crown prince visited South Korea and discussed cooperation in the areas of energy, defence and infrastructure construction, signing investment pacts worth $30 billion with Korean firms. Business leaders accompanying President Yoon include Samsung Electronics Executive Chairman Jay Y. Lee, Hyundai Motor Group Executive Chair E.S. Chung and the heads of Hanwha, GS, and HD Hyundai conglomerates, according to Yoon's office.

Persons: Yoon Suk Yeol, Yoon, Saudi Crown Prince Mohammed bin Salman, Jay Y, Lee, Chung, Cynthia Kim, Lincoln Organizations: South, Saudi Crown, Business, Samsung Electronics, Hyundai Motor Group, Hyundai Locations: SEOUL, Saudi Arabia, Qatar, South Korean, Saudi, South Korea

WASHINGTON (AP) — President Joe Biden said Friday he thought Hamas was motivated to attack Israel in part by a desire to stop that country from normalizing relations with Saudi Arabia. “One of the reasons ... why Hamas moved on Israel, is because they knew I was about to sit down with the Saudis,” Biden said at a campaign fundraiser. The U.S. president indicated that he thinks Hamas militants launched a deadly assault on Oct. 7 because, “Guess what? The Saudis wanted to recognize Israel” and were near being able to formally do so. Political Cartoons View All 1211 ImagesBut talks were interrupted after Hamas militants stormed from the blockaded Gaza Strip where Palestinians live into nearby Israeli towns.

Persons: Joe Biden, Israel, ” Biden, “, Israel ”, Biden, Benjamin Netanyahu, ”, Donald Trump’s, Abraham, Antony Blinken, Netanyahu, Saudi Crown Prince Mohammed bin Salman Organizations: WASHINGTON, U.S, Group, General Assembly, Hamas, Gaza, Abraham Accords, Saudi Crown Locations: Saudi Arabia, Israel, Jerusalem, Riyadh, India, States

☆ Saudi Arabia, UAE leaders meet as Israel-Hamas war threatens to spill over
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

Saudi state news agency SPA showed footage of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, receiving UAE President Mohammed bin Zayed Al Nahyan at Riyadh's airport. Public meetings between the crown prince and Sheikh Mohammed have been rare in recent years as the close allies competed for investment and regional influence. Sheikh Mohammed attended a summit between the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN) in Riyadh on Friday, Saudi and UAE state media said. Last year, Prince Mohammed and Sheikh Mohammed met when Prince Mohammed visited Abu Dhabi to offer his condolences on the death of Sheikh Khalifa, the UAE's previous president. Sheikh Mohammed also visited Jeddah last year, and the two leaders met on the sidelines of the G20 summit in November.

Persons: Prince Mohamed bin Salman bin Abdulaziz, Crown Prince, Sheikh Mohamed bin Zayed Al Nahyan, Prince Mohammed bin Salman, Mohammed bin Zayed Al Nahyan, Sheikh Mohammed, Prince Mohammed, Abu, Sheikh Khalifa, Aziz El Yaakoubi, Kirsten Donovan Organizations: Defence, United Arab Emirates, Gulf Cooperation Council, Association of Southeast Asian Nations, ASEAN, GCC, Thomson Locations: RIYADH, SAUDI ARABIA, Saudi Arabia, Saudi, Israel, East, Riyadh's, Riyadh, UAE, Iran, Gaza, Abu Dhabi, Jeddah

☆ Britain's Sunak to visit Egypt for Israel, Gaza talks
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

British Prime Minister Rishi Sunak leaves 10 Downing Street to attend Prime Minister's Questions at the Houses of Parliament in London, Britain, October 18, 2023. REUTERS/Clodagh Kilcoyne/File Photo Acquire Licensing RightsLONDON, Oct 20 (Reuters) - British Prime Minister Rishi Sunak will travel to Egypt on Friday, part of a trip to the Middle East where he wants to press his message that there should be no escalation of violence in the region after the Hamas attack on Israel. Sunak was the latest Western leader to visit Jerusalem on Thursday to show support for Israel and to try to negotiate a way to secure the release of hostages taken by Hamas and ease the provision of humanitarian aid to people in Gaza. In the talks in Egypt, Sunak will stress "the imperative of avoiding regional escalation and preventing the further unnecessary loss of civilian life", his office said. (This story has been corrected to fix the name of the country in paragraph 1)Reporting by Andrew MacAskill; Editing by Elizabeth Piper and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Clodagh, Sunak, Crown Prince Mohammed bin Salman, Andrew MacAskill, Elizabeth Piper, Raju Gopalakrishnan Organizations: British, REUTERS, Israel, Crown, Thomson Locations: London, Britain, Egypt, Israel, Jerusalem, Gaza, Saudi Arabia

☆ Chinese attendance at Saudi conference doubles as Riyadh courts Beijing
▼ + stars: | 2023-10-19 | by ( Pesha Magid | ) www.reuters.com time to read: +2 min

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. REUTERS/ Ahmed Yosri/File Photo Acquire Licensing RightsRIYADH, Oct 19 (Reuters) - Around 300 Chinese "decision makers" are attending Saudi Arabia's flagship investment conference this year, organisers said on Thursday, double last year's attendance as Riyadh deepens its relationship with China despite U.S. concerns. In defiance of its key Western ally, Prince Mohammed invited Chinese President Xi Jinping to visit the kingdom and launched a Chinese-Arab summit. In August, the BRICs group of nations, which includes China, invited Saudi Arabia to become a new member of the bloc. Saudi Arabia is halfway through an ambitious economic transformation plan - Vision 2030 - to wean the economy off oil by creating new industries, generating jobs for citizens, and luring in foreign capital and talent.

Persons: Ahmed Yosri, Richard Attias, Attias, Prince Mohammed bin Salman, Joe Biden, Prince Mohammed, Xi Jinping, ” Attias, Morgan, Jamie Dimon, Citi's Jane Fraser, Yoon Suk Yeol, William Ruto, Paul Kagame, Pesha Magid, Aziz El Yaakoubi, Christina Fincher Organizations: Future Investment Initiative, REUTERS, Rights, Saudi, FII Institute, Wall Street, Washington, Wall, HSBC, Standard Chartered, Kenyan, Rwandan, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, China, Gaza, Asia

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