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☆ A potential first-of-its-kind fighter jet purchase could be a sign Saudi Arabia isn't happy with what it's getting from the US
▼ + stars: | 2023-08-21 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Saudi Arabia is reportedly considering a large number of French-made Dassault Rafale fighter jets. In July, Germany announced it would not allow additional Eurofighter Typhoon fighter jets to be delivered Saudi Arabia. The Saudi air force's 72 Eurofighters are its second most numerous fighter type behind its US-made F-15s. Bandar Algaloud/ReutersIn the near-term, Saudi Arabia may find Rafales more burdensome than beneficial, given its extensive investment in US and British aircraft. A Saudi Air Force F-15 taxis for takeoff at King Faisal Air Base in February 2021.

Persons: France's, Toni Anne Barson, Sebastien Roblin, Prince Mohammed bin Salman, Joe Biden, Roblin, Salman, FAYEZ NURELDINE, Ryan Bohl, RANE, Rafales, Jamal Khashoggi, Bohl, Justin Bronk, Katherine Walters, Paul Iddon Organizations: Dassault Rafale, Saudi, Service, Privacy Policy, France's La Tribune, Eurofighter Typhoon, United Arab, La Tribune, French Dassault Rafale, Saudi Eurofighter Typhoon, Getty, East, NATO, Bandar Algaloud, Reuters, British, Royal Saudi Air Force, Royal United Services Institute, Saudi Air Force, King Faisal Air Base, US Air Force, Staff, Rafale, Washington Locations: Saudi Arabia, British, Riyadh, Wall, Silicon, Privacy Policy Saudi Arabia, Saudi, Germany, United Arab Emirates, Qatar, French, Provence, Washington, Yemen, Iran, China, France, AFP, London, Russia, North Africa, NATO, United States, Bandar, Croatia, Egypt, India, Indonesia, Greece

☆ Saudi crown prince meets Iran's foreign minister as relations thaw
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

Footage of the meeting on Iranian state media showed MbS and Amirabdollahian smiling as they spoke, while Prince Faisal and the Iranian delegation looked on. Saudi state news agency SPA said they discussed international and regional developments. [1/3]Saudi Crown Prince, Mohammed bin Salman meets with Iranian Foreign Minister Hossein Amir-Abdollahian in Jeddah, Saudi Arabia August 18, 2023. Prince Faisal visited Tehran in June and said he hoped Iranian President Ebrahim Raisi would visit the kingdom at the "appropriate time". Saudi Arabia had meanwhile lost confidence in U.S. commitment to shared regional security concerns and wanted to bolster ties with China, which has retained good relations with Iran.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman, Hossein Amirabdollahian, Amirabdollahian, Prince Faisal bin Farhan, Mohammed bin Salman, Prince Faisal, Saudi Crown Prince, Hossein Amir, Ebrahim Raisi, Ayatollah Ali Khamenei, General Antony Blinken, Angus McDowall, Mark Potter, Conor Humphries Organizations: Saudi Arabian Crown, Saudi, MbS, Saudi Crown, Iranian, Iran's Foreign, West Asia News Agency, REUTERS Acquire, Iran's, U.S, Dubai Newsroom, Thomson Locations: DUBAI, Saudi, Jeddah, United States, Iraq, Syria, Lebanon, Yemen, Bahrain, Abdollahian, Saudi Arabia, China, Tehran, Iran, Ukraine, Beijing, East

☆ Saudi binge is fiscal free kick for European clubs
▼ + stars: | 2023-08-18 | by ( Streisand Neto | ) www.reuters.com time to read: +3 min

The Saudi binge may help European teams raise funds and meet tough new financial rules. The Roshn Saudi League is a top scorer in the football transfer market. UEFA, the governing body for European football, has introduced new rules limiting clubs’ spending on wages, transfers and agent fees to 70% of revenue. European clubs should take the money before the referee's whistle blows. Saudi clubs have spent over 550 million euros buying players from European clubs in the 2023/2024 transfer season, according to Transfermarkt.

Persons: Al Hilal's, Neymar, Fahd bin Saad Al, Neymar da Silva Santos Júnior, Germain, Rúben Neves, Prince Mohammed bin Salman, Len Blavatnik, China’s, Oscar, Marouane, Hilal, Cristiano Ronaldo, Karim Benzema, Neil Unmack, Thomas Shum, Pranav Kiran Organizations: Soccer, Al, Saudi Pro League, REUTERS Acquire, Reuters, Paris Saint, Saudi, Saudi Public Investment Fund, Britain’s Premier League, Premier League, Deloitte’s Sports Business, UEFA, Deloitte, Reuters Graphics Reuters, Bloomberg, BBC, Thomson Locations: Al Hilal, Paris, France, Saudi, Hilal, Saudi League, Al, Ittihad, Saudi Arabia, Riyadh, Kingdom, Saudi Arabian

☆ Saudi crown prince meets Iran's foreign minister
▼ + stars: | 2023-08-18 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsSaudi crown prince meets Iran's foreign ministerPostedSaudi Arabian Crown Prince Mohammed bin Salman met Iranian Foreign Minister Hossein Amirabdollahian in Jeddah on Friday (August 18) in the highest level talks since the countries reconciled after years of bitter rivalry that destabilised the region.

Persons: Saudi Arabian Crown Prince Mohammed bin Salman, Hossein Amirabdollahian Organizations: Saudi Arabian Crown Locations: Saudi, Iranian, Jeddah

☆ Saudi soccer league lures Brazilian star Neymar as it seeks to attract 'exceptional players only'
▼ + stars: | 2023-08-14 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Saudi Arabia also recruited soccer legends Cristiano Ronaldo and Karim Benzema with contracts worth hundreds of millions of dollars, and it's expected to bid to host the 2030 World Cup. 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. Sports analysts are doubtful that Saudi Arabia will see its ambitions to have a top soccer league realized, even with all the money it can offer to top-tier players. Charles Laberge | LIV Golf | Getty ImagesOther criticism comes from an attitude among many that a Saudi league could never be a serious arena for athletes. Emenalo, himself a former defender for Nigeria's national soccer team and former technical director at English club team Chelsea, called the criticisms "outrageous."

Persons: Kylian Mbappe, Neymar Jr, Jean Catuffe, Neymar, Germain, Cristiano Ronaldo, Karim Benzema, Kalidou, Lyon's Moussa Dembele, Michael Emenalo, Saudi Arabia's, Al, Hilal, Kylian Mbappé, LIV, shockwaves, Saudi Crown Prince Mohammed bin Salman, Captain Brooks Koepka, Ricky Elliott, Charles Laberge, LIV Golf, Emenalo, it's, Khalid Al, Falih, that's Organizations: PSG, UEFA Champions League, Celtic Glasgow, Paris Saint Germain, Celtic Park, Getty, Getty Images, Saudi, Al, Paris Saint, Brazil national, L'Equipe, Manchester, Saudi Pro League, Nassr Football Club, Al Nassr Football, Anadolu Agency, France national, Sports, American PGA Tour, Saudi Crown, CNBC, Royal Greens, & Country Club, King Abdullah Economic, Nigeria's, soccer team, Chelsea, Saudi League, Guardian, Saudi Investment, Public Investment Fund Locations: Getty Images Saudi Arabia, Hilal, Barcelona, Saudi, Saudi Arabia, Riyadh, Europe, Jeddah, King Abdullah, King Abdullah Economic City

☆ Saudi’s swelling fund has scope for foreign binge
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 7 (Reuters Breakingviews) - Saudi Arabia’s big sovereign wealth fund is getting bigger. The Public Investment Fund’s assets under management swelled to 2.23 trillion riyals ($603 billion) in 2022 from 1.98 trillion riyals the year before. PIF’s international assets, which range from UK soccer club Newcastle United to struggling carmaker Lucid (LCID.O), shrank from 576 to 512 billion riyals. Still, PIF has big ambitions: it hopes to boost its total assets to a whopping 4 trillion riyals by 2025, of which 24% will be international. If so, its foreign assets could yet double to 960 billion riyals, according to Breakingviews calculations, making it a key player in global finance.

Persons: Saudi Crown Prince Mohammed Bin Salman, PIF, Neil Unmack, headwinds, Lisa Jucca, Pranav Kiran Organizations: Reuters, Investment, Saudi, Saudi Crown, Newcastle United, Twitter, Adidas, InBev, Thomson Locations: Saudi, Riyadh, Saudi Aramco, Neom

☆ How Saudi Arabia and UAE learned to stop worrying and love Turkey's Bayraktar drones
▼ + stars: | 2023-08-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Saudi Arabia and the UAE have signed multibillion-dollar deals for Turkish drones in recent months. Azeri Ministry of DefenseSaudi Arabia previously showed interest in procuring Turkish drones and securing rights for local production. Bakir told Insider that Turkish drones have gained "global recognition" due to their "affordability, efficiency, and lethal capabilities" and documented successes over modern battlefields. "Moreover, Saudi Arabia could use such capabilities to balance Iran's drone technology in the long run," Ozeren said. Ozeren said the Saudi deal could help Baykar "monopolize" drone technology in Turkey but noted that crucial details about the agreement remain unknown.

Persons: Recep Tayyip Erdogan, Baykar, Abu Dhabi's, Loong, Loongs, Abu Dhabi, Abu, Ali Bakir, Erdogan, Mohammed bin Salman, Murat Kula, Bakir, Suleyman Ozeren, It's, Ozeren, Ali Atmaca, Sheikh Mohammed bin Zayed, Murat Centinmuhurdar, Bashar Assad, Paul Iddon Organizations: UAE, Service, United, United Arab Emirates, Turkey's Baykar Defense, Ministry of Defense, Anadolu Agency, Getty, Dassault Rafales, Ibn Khaldon, NATO, European Union, American University, Orion Policy Institute, Ataturk Airport, Security Initiative, Atlantic Council Locations: Saudi Arabia, Wall, Silicon, United Arab, Turkish, Riyadh, East, North Africa, South Caucasus, Ukraine, Armenian, Ministry of Defense Saudi Arabia, Republic of Turkey, Kuwait, UAE, Saudi, Istanbul, Yemen, Libya, Abu, Turkey, China, France, Qatar, Jeddah, Anadolu, Nahyan, Abu Dhabi

The kingdom's sovereign wealth fund reported an AUM of 1.98 trillion riyals for 2021. The PIF said it generated a total shareholders' return of 8% and established 25 companies in 2022, and locally deployed 120 billion riyals in that year in strategic sectors. The PIF said 23% of its AUM were international investments, while 68% were local investments and the remainder were treasury. PIF is the chosen vehicle of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. The fund raised $5.5 billion in February from a green bond sale, following its inaugural green bond that raised $3 billion in October.

Persons: Yasir Othman Al, Mohammed Abdullah Al Jadaan, Ahmed Aqeel Al Khateeb, Ibrahim Abdulaziz Al, Prince Mohammed bin Salman, Majid Abdullah Al Qasabi, Khalid Abdulaziz Al Falih, PIF, Ahmed Elimam, Alex Richardson Organizations: Saudi Public Investment, Saudi Finance, Tourism, Investment, Read, Saudi, Public Investment Fund, Sunday, Aramco, Sanabil Investments, Thomson Locations: Saudi, DUBAI, London , New York, Hong Kong, Saudi Aramco

Ukrainian, Russian and international officials say there is no prospect of direct peace talks between Ukraine and Russia at the moment, as the war continues to rage and Kyiv seeks to reclaim territory through a counter-offensive. Neither the Jeddah gathering - which is expected to begin on Friday, with the main discussions on Saturday and Sunday - nor the peace summit would involve Russia, officials say. Saudi Arabia, along with Turkey, played a mediation role in a major prisoner swap between Ukraine and Russia last September. Zelenskiy attended an Arab League summit in Saudi Arabia in May this year, at which Saudi Crown Prince Mohammed bin Salman expressed his readiness to mediate in the war. A second senior EU official said Saudi Arabia reached "into parts of the world where (Ukraine's) classical allies would not get to as easily".

Persons: Volodymyr Zelenskiy, Leo Varadkar, Clodagh, Zhovkva, Zelenskiy, Saudi Crown Prince Mohammed bin Salman, Jake Sullivan, Matt Miller, there's, Dmitry Peskov, Olena Harmash, Carien du Plessis, Gabriela Baczynska, Daphne Psaledakis, Laurie Chen, Martin Pollard, Jon Boyle Organizations: Ireland's, REUTERS, Global, Reuters, European Commission, Chinese Foreign Ministry, Russia, Arab, Saudi Crown, EU, . National, U.S . State, Thomson Locations: Horodetskyi, Ukraine, Kyiv, Jeddah, China, BRUSSELS, LONDON, Saudi Arabia, Russia, India, Brazil, South Africa, Turkey, Moscow, Copenhagen, Riyadh, United States, U.S

☆ Saudi Arabia and Turkey are emerging as the new peace brokers of the Russia-Ukraine war
▼ + stars: | 2023-08-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +7 min

Turkish President Recep Tayyip Erdogan welcomes Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud in Ankara, Turkey, on June 22, 2022. "We thank the Crown Prince and Government of Saudi Arabia for facilitating [the prisoner exchange]," Sullivan wrote in a separate post. "Saudi Arabia and Turkey are good examples of such mid-level powers now helping shape international realities in a way they rarely did during the Cold War." And Turkey, like Saudi Arabia, refuses to partake in sanctions against Russia, irking its Western allies. Saudi Arabian Crown Prince Mohammed bin Salman (R) meets Ukrainian President Volodymyr Zelenskyy (L) in Jeddah, Saudi Arabia on May 19, 2023.

Persons: Recep Tayyip Erdogan, Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud, Mustafa Kaya, Russian –, Vladimir Putin, –, Recep Tayyip Erdogan of, Crown Prince Mohammed bin Salman, Volodymyr Zelenskyy, Jake Sullivan, Putin, Sullivan, Hussein Ibish, Russia's Putin, Vilius Semeska, Selcuk Bayraktar, Haluk Bayraktar, Ibish, Saudi Arabia's Crown Prince Mohammed bin Salman, Saudi Arabian Crown Prince Mohammed bin Salman, Erdogan, Mohammed bin Salman, Ryan Bohl, Rane, Ayham Kamel Organizations: Saudi Arabia's Crown, Getty, Crown, Russia, Handout, Anadolu Agency, Twitter, Ukraine –, Prince, Saudi, Gulf States Institute, CNBC, NATO, Defence, Baykar, Saudi Arabian Crown, Saudi Foreign Ministry, Getty Images, Ukrainian, Arab, Russo, East, Global, Eurasia Group Locations: Ankara, Turkey, Xinhua, Russian, Russia, Recep Tayyip Erdogan of Turkey, Saudi Arabia, Kyiv, Ukraine, Ukrainian, Saudi, Jeddah, U.S, China, India, Brazil, Washington, Turkey's, Lithuanian, Istanbul, Turkish, , Washington, North Africa, Riyadh, Middle East

Tiger Woods wipes his driver grip on the 18th tee box during the first round of the PGA TOUR Champions PNC Championship at The Ritz-Carlton Golf Club on December 17, 2022 in Orlando, Florida. Ben Jared | PGA Tour | Getty ImagesThe PGA Tour on Tuesday said Tiger Woods would join its policy board, a concession meant to give players more input and oversight as negotiations continue for its controversial deal with Saudi-backed LIV Golf. Woods joins the board less than a month after former AT&T CEO Randall Stephenson resigned due to concerns regarding the Saudi investment. Until the proposed deal was announced, the PGA Tour and LIV were embroiled in antitrust lawsuits – lobbed at each other – as players left the tour for big paydays at LIV. The proposed deal has been met with ire and confusion from lawmakers, members of the tour and fans.

Persons: Woods, Ben Jared, Tiger Woods, LIV, Randall Stephenson, LIV Golf, Saudi Crown Prince Mohammed bin Salman, Patrick Cantlay, Charley Hoffman, Peter Malnati, Rory McIlroy, Webb Simpson, Monahan, Christian Petersen Organizations: PGA, PNC, Ritz, Carlton Golf Club, Saudi, Saudi Arabia Public Investment Fund, Saudi Crown, Augusta National Golf Club, Getty Locations: Orlando , Florida, Saudi, LIV, Augusta , Georgia

☆ Kremlin says it needs to understand aims of Ukraine talks reportedly planned in Saudi Arabia
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, July 31 (Reuters) - The Kremlin said on Monday it needed to find out the purpose of upcoming talks reportedly planned in Saudi Arabia about the war in Ukraine. The Wall Street Journal reported on Saturday that Saudi Arabia would invite Western states, Ukraine and major developing countries to the talks. The paper said Kyiv and Western countries hoped that the talks, which would exclude Russia, can lead to international backing for peace terms favoring Ukraine. Asked about the WSJ report, Kremlin spokesman Dmitry Peskov said: "Of course, Russia will follow this meeting. However, Peskov also restated Moscow's position that it currently saw no grounds for peace talks with Kyiv.

Persons: Dmitry Peskov, Peskov, Prince Mohammed bin Salman, Vladimir Putin, Volodymyr Zelenskiy, Gareth Jones, Mark Trevelyan Organizations: Street, Ukraine, Kyiv, Saudi, Thomson Locations: MOSCOW, Saudi Arabia, Ukraine, Kyiv, Western, Russia

☆ Kremlin seeks more info about talks in Saudi, Ukraine says Moscow unwelcome
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +3 min

The meeting was first reported last Saturday in the Wall Street Journal, which said Saudi Arabia would invite Western states, Ukraine and major developing countries to talks focusing on Ukrainian President Volodymyr Zelenskiy's peace plan. The paper said Kyiv and Western countries hoped that the talks could lead to international backing for peace terms favouring Ukraine. Peskov, however, also restated Moscow's position that it currently saw no grounds for peace talks with Kyiv. "If there's acceptance from both Ukraine and Russia to look for solutions to achieve peace, we'll participate," he told reporters in Mexico City. Andriy Yermak, Zelenskiy's chief of staff, said Ukraine would be "boundlessly happy if West, East, South and North work in this format towards renewing a system of world security".

Persons: Volodymyr Zelenskiy's, Dmitry Peskov, Andres Manuel Lopez Obrado, we'll, Andriy Yermak, Yermak, Prince Mohammed bin Salman, Vladimir Putin, Gareth Jones, Ron Popeski, Stephen Coates Organizations: Press, State Emergency Service of, REUTERS, Street, Ukraine, Kyiv, Reuters, Thomson Locations: Russian, Ukraine, Kryvyi Rih, State Emergency Service of Ukraine, Handout, REUTERS MOSCOW, Saudi Arabia, Russia, Kyiv, Western, Mexico City, East, South, Saudi

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Persons: Dow Jones Locations: saudi, uae

☆ Saudi Arabia buys Turkish drones during Erdogan's visit
▼ + stars: | 2023-07-18 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Erdogan and Saudi Crown Prince Mohammed bin Salman attended the signing ceremony between Turkish defence firm Baykar and the Saudi defence ministry, Saudi state news agency SPA reported. Erdogan arrived in the Saudi Red Sea city of Jeddah on Monday for the first stop of a Gulf tour. Saudi Arabia will acquire the drones "with the aim of enhancing the readiness of the kingdom's armed forces and bolstering its defense and manufacturing capabilities," Defence Minister Prince Khalid bin Salman said in a tweet on Tuesday. SPA said Erdogan and Prince Mohammed attended the signing of a defense cooperation plan by Prince Khalid and Turkish Defence Minister Yasar Guler. Developing a local military industry has been part of an ambitious plan by Prince Mohammed to diversify the kingdom's economy away from oil.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Baykar, Prince Khalid bin Salman, Haluk Bayraktar, Jamal Khashoggi, Prince Mohammed, Prince Khalid, Yasar Guler, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Enas Alashray, Daren Butler, Jamie Freed, Lincoln, Tomasz Janowski, Bernadette Baum Organizations: Saudi Crown, Defence, Investments, United, United Arab Emirates, Turkish Defence, Turkish, Thomson Locations: RIYADH, Saudi Arabia, Saudi, Saudi Red Sea, Jeddah, Ankara, United Arab Emirates, Turkey, East, North Africa, Istanbul, Qatar, United Arab, Riyadh, UAE, Nahyan, Cairo

☆ Saudi Arabia and Turkey sign agreements on energy, defence and other fields
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

CAIRO, July 18 (Reuters) - Saudi Arabia and Turkey signed a number of memorandums of understanding in many fields including energy, direct investments and defence, Saudi state news agency SPA reported early on Tuesday. Turkey's President Tayyip Erdogan and Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, witnessed the signing ceremony of the bilateral agreements between the two countries, SPA said. Saudi Arabia signed two contracts with Turkish defence firm Baykar to buy drones "with the aim of enhancing the readiness of the Kingdom's armed forces and bolstering its defense and manufacturing capabilities," Saudi Defence Minister Prince Khalid bin Salman said in a tweet on Tuesday,The two countries also signed a defence cooperation plan, the minister added. Erdogan's Gulf tour, which also includes Qatar and the United Arab Emirates, is due to conclude on July 19. Reporting by Enas Alashray and Yomna Ehab; Editing by Jamie Freed and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Saudi Crown Prince Mohammed bin Salman, Baykar, Prince Khalid bin Salman, Erdogan, Enas Alashray, Jamie Freed Organizations: Saudi Crown, Turkish, Saudi Defence, United Arab, Thomson Locations: CAIRO, Saudi Arabia, Turkey, Saudi, Qatar, United Arab Emirates, Lincoln

☆ Japan and UAE agree innovation, climate change cooperation
▼ + stars: | 2023-07-17 | by ( Rachna Uppal | ) www.reuters.com time to read: +4 min

State news agency WAM also said the two leaders discussed a comprehensive strategic partnership between the UAE and Japan. Japan is actively developing greener and renewable energy technologies and aims to be carbon neutral by 2050. Kishida will also try to promote Japanese know-how as energy-producing countries have pledged to achieve a net zero transition, especially ahead of the COP28 climate summit to be held in Dubai in November. The GCC is a six-nation regional union that comprises Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The secure energy supply from the UAE has supported Japan's economic growth for many years," Kishida wrote in a piece published by UAE state news agency WAM on Sunday.

Persons: Mohamed bin Zayed Al Nahyan, Kishida, Ryan Carter, Fumio Kishida's, Sheikh Mohammed bin Zayed Al Nahyan, WAM, Saudi Crown Prince Mohammed bin Salman, Hikariko Ono, Rachna Uppal, Sakura Murakami, Andrew Mills, Aziz El Yaakoubi, Conor Humphries, David Evans, Alex Richardson, Jacqueline Wong Organizations: United Arab Emirates, United, UAE, United Arab, Japan, Qatar, Saudi Crown, Cooperation Council, GCC, Abu Dhabi National Oil Company, Thomson Locations: Japan, Qasr Al Watan, Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, UAE, State, Dubai, Saudi Arabia, Riyadh, Tokyo, Saudi, Qatar, Kuwait, Oman, Bahrain

Saudi state-run al-Ekhbariya television showed several Saudi officials welcoming Erdogan as he arrived at the venue of a Saudi-Turkish business forum in the Red Sea city of Jeddah. Erdogan is expected to meet with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, later on Monday. "Turkey will have a serious investment opportunity in the defence industry, infrastructure and superstructure investments in the three countries," he said. Ekhbaria carried live footage showing Saudi Investment Minister Khaled al-Falih addressing dozens of businessmen from both sides at the Saudi-Turkish business forum in Jeddah. Turkey's budget deficit surged to 219.6 billion lira ($8.37 billion) in June, seven times the deficit a year earlier, data showed on Monday.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Ekhbaria, Khaled al, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Yilmaz, Huseyin Hayatsever, Ali Kucukgocmen, Daren Butler, Aziz El Yaakoubi, William Maclean Organizations: Saudi Crown, . Investments, United, Turkish, Saudi Investment, Thomson Locations: ISTANBUL, RIYADH, Saudi Arabia, Turkey, Saudi, Turkish, Red Sea, Jeddah, Ankara, United Arab Emirates, Istanbul, Qatar, UAE, Nahyan

☆ Japan, Saudi Arabia set to agree on rare earth resources joint development - Nikkei
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 15 (Reuters) - Japan and Saudi Arabia are expected to agree on joint investment to develop rare earth resources during Prime Minister Fumio Kishida's visit to the Middle East starting Sunday, Nikkei reported. Kishida plans to visit oil producers Saudi Arabia and United Arab Emirates, as well as liquefied natural gas producer Qatar - the three major energy suppliers to resources-poor Japan - on July 16-18. Rare earth resources are essential for decarbonisation and production of electric vehicles in particular as Japan aims to be carbon-neutral by 2050 and Saudi Arabia is also actively trying to diversify its oil-reliant economy. According to Nikkei on Saturday, Kishida and Saudi Crown Prince Mohammed bin Salman are set to agree on rare earth resources cooperation on Sunday to jointly explore development projects in other countries. Japan will also help to speed-up development of resources currently being explored in Saudi Arabia and namely copper, iron and zinc, Nikkei added.

Persons: Fumio Kishida's, Kishida, Saudi Crown Prince Mohammed bin Salman, Katya Golubkova, Michael Perry Organizations: East, Nikkei, United, Saudi Crown, Thomson Locations: TOKYO, Japan, Saudi Arabia, United Arab Emirates, Qatar, Kishida

☆ Here's how a merger between PGA Tour and LIV Golf would be structured
▼ + stars: | 2023-06-27 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

In a five-page agreement obtained by CNBC, the parties — the PGA Tour, the Saudi Arabia Public Investment Fund and Europe's DP World Tour — agreed to create a for-profit subsidiary of the PGA Tour. The new entity will manage commercial assets for all of the tours, while the PGA Tour will manage competitions. The tentative merger agreement was signed by PGA Tour Commissioner Jay Monahan, DP World Tour CEO Keith Pelley and PIF's Yasir al-Rumayyan. The lawsuits came after multiple high-profile players including Phil Mickelson left the PGA Tour for LIV. The PGA Tour has said its executives would testify at the hearing, although it is unclear if Monahan will be present.

Persons: LIV, —, Muhammed bin Salman, Jay Monahan, Keith Pelley, PIF's Yasir al, LIV Golf, Phil Mickelson, " Monahan, Sen, Richard Blumenthal, Ron Johnson, Monahan Organizations: PGA Tour, CNBC, Saudi Arabia Public Investment Fund, Tour, Public Investment Fund, PGA, Senate Homeland Security Locations: Saudi, United States

June 16 (Reuters) - The widow of murdered Saudi journalist Jamal Khashoggi says in a lawsuit that surveillance software built by the Israeli surveillance company NSO Group was used to spy on her messages in the months leading up to her husband's death. The company - which markets surveillance technology to intelligence agencies and law enforcement around the world - has previously denied that its technology was used to hack Khashoggi. He was a Washington Post columnist who was murdered on the grounds of Saudi Arabia's consulate in Istanbul in 2018. U.S. intelligence concluded in 2021 that Saudi Crown Prince Mohammed bin Salman approved an operation to capture or kill Khashoggi. The Saudi government has denied any involvement by the crown prince and has maintained that Khashoggi's killing was a heinous crime by a rogue group.

Persons: Jamal Khashoggi, Hanan Elatr Khashoggi, Saudi Crown Prince Mohammed bin Salman, Loujain, Raphael Satter, Frances Kerry Organizations: NSO Group, Northern District of Virginia, NSO, Washington Post, Saudi Crown, Saudi, Pegasus, Reuters, Apple Inc, Meta, Inc, Thomson Locations: Saudi, Northern District, Washington, Saudi Arabia's, Istanbul, U.S

☆ Senate Democrats press for Justice Department inquiry into PGA Tour-LIV Golf merger
▼ + stars: | 2023-06-14 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — Two top Senate Democrats with a track record of scrutinizing business and antitrust activity have called for a Justice Department investigation into the merger agreement between the PGA Tour and Saudi-funded LIV Golf. The letter follows Connecticut Democratic Sen. Richard Blumenthal's inquiries to PGA Tour Commissioner Jay Monahan and LIV Golf CEO Greg Norman for details on the merger. The PGA Tour also insists the deal isn't a merger and that Saudi Arabia's Public Investment Fund will be a minority investor. The deal between the PGA Tour and LIV Golf would put an end to pending antitrust litigation between the two golf organizations. Family members of 9/11 victims have protested the Saudi golf league due to the terrorists' ties to the country.

Persons: Elizabeth Warren, Ron Wyden, LIV, Elizabeth Warren of, General Merrick Garland, Jonathan Kanter, Connecticut Democratic Sen, Richard Blumenthal's, Jay Monahan, Greg Norman, Monahan, LIV Golf, DOJ didn't, Yasir Al, Rumayyan, LIV Golf's, Osama Bin Laden, Prince Mohammed bin Salman, Jamal Khashoggi, Warren, Wyden, –, Jessica Golden Organizations: U.S, Capitol, WASHINGTON —, Democrats, Justice Department, PGA Tour, Saudi, LIV Golf, Oregon, Connecticut Democratic, Saudi Arabia's Public Investment Fund, DOJ, CNBC, PGA, Public Investment Fund, Washington Post, Senate Banking Committee, Finance Locations: Sens, Washington , DC, Elizabeth Warren of Massachusetts, U.S, Saudi, Saudi Arabia

☆ Saudi Arabia and China are part of a multipolar world order, and their mutual interests are 'strong and rising,' minister says
▼ + stars: | 2023-06-14 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

watch nowSaudi Arabia sees China as a key partner in a multipolar world — with the two countries expected to only come closer as their common interests grow, Saudi Minister of Investment Khalid Al-Falih told CNBC. "And we believe that economic cooperation between China and Saudi Arabia and the GCC (Gulf Cooperation Council), and the entire Arab region, will be a significant part of that." The U.S. has military installments in Saudi Arabia, selling it advanced weaponry and providing training and joint operations with the Saudi military. 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. But we would see, going forward, more global champions from Saudi Arabia going to China to access a growing market of 1.4 billion high-consumption individuals."

Persons: Investment Khalid Al, Falih, — it's, CNBC's Dan Murphy, it's, Biden, Xi Jinping, Crown Prince, Saudi Arabia Mohammed bin Salman Al Saud, Saudi Crown Prince Mohammed bin Salman, Faisal bin Farhan, Antony Blinken, Fayez Nureldine Organizations: Saudi, Investment, CNBC, China Business Conference, GCC, Gulf Cooperation Council, U.S ., Anadolu Agency, Getty, Technology, Saudi Crown, Beijing, GCC Ministers, AFP Locations: Saudi Arabia, China, Riyadh, Africa, Central Asia, United States, Brazil, Russia, India, South Africa, U.S, Saudi, we're, Washington, Yamamah, Beijing

☆ Saudi Arabia's PGA merger is likely just the beginning for the kingdom when it comes to pro sports investments
▼ + stars: | 2023-06-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

The controversial mega merger between the PGA Tour and Saudi Arabia's LIV Golf is just one step in the kingdom's ambitious tourism and investment strategy — and its pursuit of big-name sports is just getting started. "We're sort of a proponent to find 'all of the above' strategy in sport," Saudi Investment Minister Khalid Al-Falih told CNBC's Dan Murphy in Riyadh. The PIF is Saudi Arabia's Public Investment Fund, a $600 billion sovereign wealth fund controlled by Saudi Crown Prince Mohammed bin Salman. News that the PGA Tour and Saudi Arabia's LIV Golf were joining forces last week brought an end to a two-year battle between the archrivals. The agreement, which includes the DP World Tour — also known as the PGA European Tour — will combine the commercial businesses and rights of the PGA Tour and LIV Golf into a new, yet-to-be-named for-profit company.

Persons: LIV, Khalid Al, Falih, CNBC's Dan Murphy, Saudi Crown Prince Mohammed bin Salman, It's, LIV Golf, — Organizations: PGA Tour, Saudi, Saudi Investment, Public Investment Fund, Saudi Crown, PGA Locations: Riyadh, Saudi Arabia, Saudi

☆ From ‘Pariah’ to Partner, Saudi Leader Defies Threats to Isolate Him
▼ + stars: | 2023-06-10 | by ( Ben Hubbard | ) www.nytimes.com time to read: +1 min

President Biden vowed during his quest for the White House to make the Saudi crown prince, Mohammed bin Salman, a “pariah” over the killing and dismemberment of a dissident. He threatened the prince again last fall with “consequences” for defying American wishes on oil policy. Mr. Biden, visiting Saudi Arabia last year, fist bumped Prince Mohammed when they met and regularly dispatches officials to see him — including his secretary of state, Antony J. Blinken, this past week. Senator Graham grinned next to the prince — known by his initials M.B.S. — during a visit to Saudi Arabia in April.

Persons: Biden, Mohammed bin Salman, Lindsey Graham, Prince Mohammed, “, Jay Monahan, —, Antony J, Graham grinned, Monahan, LIV, ”, Abdullah Alaoudh Organizations: White, Republican, PGA Tour, PGA, LIV Golf, Freedom Initiative Locations: Saudi, Saudi Arabia, Washington

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