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Saudi Arabia’s PIF Eyes a Stake in Regional Starbucks Franchise — Report
Saudi Arabia’s Public Investment Fund is leading a consortium of investors which has emerged as the frontrunner to buy a minority stake in Kuwaiti conglomerate Alshaya Group’s Starbucks Corp. franchise, people familiar with the matter told Bloomberg.
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Iraq’s Clashes Sends Oil Higher Before Retreat
Oil surged to the biggest gain in six weeks before paring some of those gains after Iraq’s state marketing company said exports haven’t been affected by violent clashes in Baghdad, according to Bloomberg.
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PIF Returns to Buy-Low Playbook with 2Q Stock Market Buying Spree
Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.
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Report: Saudi, UAE Save Remaining Spare Capacity for Potential Winter Supply Crisis
According to a report in Reuters, OPEC+ production leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output “should the world face a severe supply crisis this winter,” sources familiar with the thinking of the top Gulf exporters told Reuters in an exclusive report.
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OPEC, Allies Agree to Increase in Oil Production
Saudi Arabia and the OPEC+ group of oil-producing countries agreed to a small increase of 100,000 bpd in oil production on Wednesday after the U.S. and other consuming nations called for more crude in the market, according to reports.
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Crown Prince Mohammed bin Salman arrives in Greece in First Visit to Europe Since 2018
Saudi Arabia’s Crown Prince Mohammed bin Salman arrives in Greece today for talks with its premier, Kyriakos Mitsotakis, marking his first trip to a European Union nation since 2018.
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Foreign Direct Investment into Saudi Arabia Jumps 9.5%, Saudi Arabia’s Ministry of Investment Says
Saudi Arabia recorded 9.5% increase year on year in foreign direct investment (FDI) flows during the first three months of 2022, Saudi Arabia’s Ministry of Investment (MISA) said on Twitter on Tuesday.
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Saudi Crown Prince Lands in Egypt on Start of Regional Tour
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Cairo, Egypt on Monday, kicking off his first tour outside the Gulf region in over three years, according to reports.
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Saudi Arabia Invites Proposals for Rabigh 4 Independent Water Project; 8 Pre-Qualified to Bid
Saudi Water Partnership Company (SWPC), the principal off-taker for water and wastewater projects in Saudi Arabia, tendered Request for Proposal (RFP) for its Rabigh 4 Independent Water Plant (IWP) project, according to a report in Zawya. The 600,000 cubic meters per day desalination project is located in Rabigh, 110 miles northwest of Makkah, on the Red Sea […]
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President Biden Visit to Saudi Arabia Likely in July; Says US-Saudi Ties on ‘Steady Footing’
President Biden and the White House said US-Saudi relations are on “solid footing” and that the President is targeting a July date to visit the Kingdom and meet with its top leadership, according to comments by the White House press secretary Karine Jean-Pierre said.
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Uzbekistan exact revenge on Saudi Arabia to once again show they are Asia’s rising force
On Saturday, with an impressive 2-0 win over defending champions Saudi Arabia, the Uzbeks advanced to the semi-finals of the ongoing AFC U-23 Asian Cup. In doing so, they kept alive their hopes of a maiden appearance in the men's football tournament at the Olympic Games. Should they beat Indonesia in their next tie and reach the final, they are guaranteed a ticket to Paris.
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Biden offers both a carrot and a stick to Israel as his term nears an end
In his final months in office, President Joe Biden is signaling new willingness to use U.S. military assistance to Israel as both a carrot and a stick to influence its high-stakes confrontation with Iran and Iran-backed militant groups. But while the approach increases Washington's involvement in Israeli decision-making just weeks before the US presidential election, it is unclear whether it will help achieve Biden's goals, including preventing a broader regional conflict and getting Israel to address the increasingly dire humanitarian situation in Gaza, experts say.
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Iran warns Israel against retaliation for missile attack
The commander of Iran's Revolutionary Guards warned Israel on Thursday against attacking the Islamic Republic in retaliation for a missile barrage, as the Israeli military stepped up its offensive in Lebanon against Tehran-backed Hezbollah. Fears of a wider Middle East conflict have grown as Israel plans its response to the Oct. 1 missile attack carried out by Iran after Israeli airstrikes on Iranian-allied militants.
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Charges of double standards as Lebanese Shiites seek refuge in Iraq
Iraqi officials are facing accusations that “humanitarian assistance” to displaced Lebanese is offered primarily to Hezbollah’s leadership and their families. Images of recent arrivals from Lebanon wearing scarves with the group’s insignia initially kicked off allegations of double standards. Observers further alleged that non-affiliates of Hezbollah are not offered preferential treatment. Meanwhile, others oppose such aid writ large, charging that Iraq’s Shiite political elite is supporting Lebanese co-religionists at the expense of displaced Iraqi Sunnis.
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Saudi Arabia, Egypt agree deeper investment ties, urge Gaza truce
Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah al-Sisi agreed to deepen trade and investment cooperation and called for a ceasefire in Gaza and Lebanon in talks in Cairo on Tuesday. Egypt's presidency said the leaders signed an agreement to encourage and protect mutual investments between the countries, and witnessed the signing of an accord to form a supreme coordination council between Riyadh and Cairo to deepen cooperation.
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Saudi crown prince attends weekly Cabinet meeting
The Cabinet addressed the Kingdom’s ongoing efforts on the political and humanitarian levels to contribute to the current situation in the Gaza Strip and its surroundings, as well as the repercussions of the ongoing events ion Lebanon, Saudi Press Agency reported. It also discussed Saudi efforts of launching an air bridge to the Lebanese people to support them in facing these critical circumstances.
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Saudi’s Manara in advanced talks to buy stake in First Quantum’s Zambian mines
Saudi Arabia's Manara Minerals is closing in on a deal to buy a minority stake in Canadian miner First Quantum Minerals' (FM.TO), opens new tab Zambian copper and nickel assets, three people familiar with the details told Reuters. Manara, a joint venture between Saudi Arabian mining company Ma'aden (1211.SE), opens new tab and its $925 billion Public Investment Fund, is in advanced talks to acquire between 15% and 20% equity in the Zambian assets, the sources said.
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FIFA World Cup Qualifying review: Saudi Arabia and fellow Gulf sides struggle
The third round of Asian qualifying for the 2026 FIFA World Cup continued this past week, with each nation still in the running for a spot at the tournament playing a pair of matches. For some, like Saudi Arabia, it was a difficult seven days, while others moved closer to a spot at the 2026 finals in the United States, Canada and Mexico. Here, Al Arabiya English rounds up the key moments from FIFA World Cup qualifying.
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Goldman Sachs’ Saudi Arabia CEO leaving firm – source
Goldman Sachs' (GS.N), opens new tab Saudi Arabia CEO, Khalid Albdah, is leaving the firm, a source familiar with the situation told Reuters on Wednesday.Albdah has been heading Goldman's Saudi operations for nearly a decade, his LinkedIn profile showed. He joined the bank in 2013 from Al Rajhi Capital, one of the largest financial firms in the Middle East. Goldman Sachs declined to comment. The news was first reported by Bloomberg.
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Saudi Arabia hands over 2nd installment of monthly financial support to Palestine
Naif Al-Sudairi, Saudi ambassador to Jordan, non-resident ambassador to Palestine, and consul general in Jerusalem, handed over the second installment of the monthly financial support to Finance Minister of Palestine Omar Bitar at the embassy headquarters in Amman on Monday. This financial aid is from Saudi Arabia to the Palestinian brothers to address the humanitarian situation in the Gaza Strip.
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