Saudi Arabia

Lenovo Group Ltd. (OTC:LNVGY) has decided to issue $2 billion worth of zero-coupon convertible bonds to Saudi Arabia Crown Prince Mohammed Bin Salman‘s sovereign wealth fund. This is part of a broader agreement with the tech-friendly kingdom. What Happened: The convertible bonds will be...

A unit of Saudi Arabia’s sovereign wealth fund, Jada, has invested in a $250 million health fund. This investment is expected to play a pivotal role in the kingdom’s healthcare industry. What Happened: The fund, named Afiyah, will focus on the healthcare sector in Saudi Arabia. The fund...

IBM (NYSE:IBM) has announced that it will be releasing a new set of artificial intelligence models as open-source software. Additionally, the company has secured a deal with Saudi Arabia to aid in the training of an AI system in Arabic. What Happened: IBM, based in Armonk, New York, has decided to...

The West Texas Intermediate (WTI) crude spot price, as tracked by the United States Oil Fund (NYSE:USO), hovered below $80 a barrel on Monday, remaining relatively stable despite significant geopolitical developments in the Middle East. Indeed, natural gas prices have experienced a substantial...

Saudi Crown Prince Mohammed bin Salman has postponed his scheduled trip to Japan due to concerns over the health of his father, King Salman Bin Abdulaziz. What Happened: The Crown Prince’s visit, which was set to take place from May 20 to May 23, has been postponed, Bloomberg reported. This...

Saudi Arabia’s Crown Prince Mohammed bin Salman is set to visit  U.S. Asian ally Japan later this month, which is expected further to strengthen the economic relationship between the two countries. What Happened: The Crown Prince, who is the de facto ruler of Saudi Arabia, will be in Japan...

The U.S. government and Saudi Arabia are reportedly on the brink of sealing a security pact, despite ongoing Middle East conflicts and the absence of an Israel-Saudi normalization agreement. What Happened: Seven sources privy to the matter have revealed that the proposed pact encompasses U.S....

Saudi Arabia has confirmed that the NEOM megaprojects will proceed as initially planned, despite previous reports suggesting a potential scaling back of the futuristic desert development. What Happened: The Kingdom’s economy minister, Faisal Al Ibrahim, dismissed earlier reports of a...

The United Arab Emirates’ (UAE) energy minister, Suhail Al Mazrouei, has expressed his support for JPMorgan’s recent cautionary stance on the global energy transition. What Happened: Al Mazrouei, stated that JPMorgan’s call for a “reality check” on the world’s...

U.S. Secretary of State Antony Blinken has landed in Saudi Arabia to initiate discussions on the governance of Gaza post the Israel-Hamas conflict. Why It Matters: Blinken’s visit to Saudi Arabia is part of a broader Middle East tour to address the Gaza governance, Reuters reported. He is...

Saudi Arabia's Manara Minerals is reportedly in advanced talks to acquire a minority stake in Pakistan’s Reko Diq gold and copper mine project. The project, located in the commodity-rich province of Balochistan, is on track to start production by 2028. According to Bloomberg and the state-run...

The U.S. military has confirmed the destruction of two drones in Houthi-controlled areas of Yemen and over the Red Sea, citing a potential threat to American and coalition forces. What Happened: The U.S. Central Command stated on Sunday that the drones were destroyed on Saturday morning, reported...

Deepwater Asset Management‘s managing partner Gene Munster has raised a red flag over the potential impact of Saudi Arabia’s $40 billion AI investment on the U.S. market. What Happened: On Tuesday, Munster took to X, formerly Twitter, to express his concerns about...

Saudi Aramco CEO Amin Nasser has cautioned that the global energy transition is faltering and urged policymakers to adopt a more realistic approach to the future of oil and gas. What Happened: Nasser, speaking at the CERAWeek by S&P Global energy conference in Houston, Texas, asserted that the...

As the Saudi Public Investment Fund (PIF) marches towards an impressive $1 trillion by 2025, it solidifies its position as a major player in global investments, particularly in transformative tech. PIF, guided by Crown Prince Mohammed Bin Salman (MBS), is the 5th largest Sovereign Wealth Fund in...