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  • Al Ula conference For Emerging Market Economies THE MANAGING DIRECTOR’S OPENING REMARKS

    Now is a time of sweeping transformations in the global economy, in terms of technology, demography and geopolitics, creating a more challenging and uncertain environment for policymakers everywhere, with some specificities in terms of both risks and opportunities for emerging economies. We know, for instance, that trade is no longer the engine of growth that it used to be—unlike the decades of the 1990s and 2000s when global trade grew much faster than global GDP, the two are now growing at roughly the same rate (and trade even lags behind). When global trade slows down, opportunities for regional and cross-regional trade become more important.

  • Saudi Arabia seeks to mediate between Trump and Iran on new nuclear deal

    Saudi Arabia is open to mediating between the Trump administration and Iran in pursuit of a new deal to limit Tehran’s nuclear program, CNN has learned. The kingdom is concerned that Iran may be more inclined to pursue a nuclear weapon now that its regional proxies – long viewed as a deterrent against Israeli attacks – have been significantly weakened. Saudi Arabia hopes to leverage its close ties with President Donald Trump to provide Iran with a diplomatic bridge to the White House. It is unclear whether Saudi Arabia has made a formal offer, but the move underscores Riyadh’s desire to build on its improved relations with its former foe and secure a seat at the negotiating table for a potential new deal.

  • Saudi Arabia vows full support to Lebanon’s actions to safeguard citizens’ security

    Saudi Arabia expressed on Sunday its full support for the measures taken by the Lebanese government to safeguard the security of its citizens and respond decisively to the attack on the United Nations Interim Force in Lebanon (UNIFIL). In a statement, the Ministry of Foreign Affairs reiterated its confidence in the actions taken by President Joseph Aoun and Prime Minister Nawaf Salam, as well as in the efforts of the Lebanese Army to ensure security and stability. The outgoing deputy force commander of the UNIFIL was injured on Friday after a convoy taking peacekeepers to Beirut airport was "violently attacked", UNIFIL said. It said in a statement that the convoy was taking peacekeepers to Beirut airport when it was targeted and one of its vehicles set on fire.

  • Saudi defense minister, Pentagon chief discuss Saudi-US defense cooperation

    Saudi Arabia’s Defense Minister Prince Khalid bin Salman said on Sunday that he spoke to US Secretary of Defense Pete Hegseth on Saudi-US relations. In a post on X, Prince Khalid said during the call, the officials “explored ways to strengthen strategic defense cooperation,” and “discussed efforts to advance international peace and security.” Prince Khalid said he congratulated Hegseth, the chief of Pentagon, on his new role as part of the administration under US President Donald Trump. Pentagon Press Secretary John Ullyot said in a statement that during the introductory call, both officials reaffirmed “the critical defense partnership between the United States and the Kingdom of Saudi Arabia.”

  • Top US envoy to meet Russian officials for Ukraine peace talks

    US Secretary of State Marco Rubio plans to meet Russian officials in Saudi Arabia in the coming days for talks aimed at ending the war in Ukraine, US officials say. America's top diplomat will be joined by national security adviser Mike Waltz and the US special envoy to the Middle East, Steve Witkoff, the officials told the BBC's US partner CBS News. US special envoy to Ukraine Keith Kellogg said Washington, Moscow and Kyiv would be involved in talks, but Europe was not invited. Ukrainian President Volodymyr Zelensky said Kyiv had not been invited to the talks in Saudi Arabia.

  • Readout of Secretary of Defense Pete Hegseth’s Call With Saudi Minister of Defense, His Royal Highness Khalid bin Salman

    Secretary of Defense Pete Hegseth and Saudi Minister of Defense Khalid bin Salman held an introductory call today to reaffirm the critical defense partnership between the United States and the Kingdom of Saudi Arabia. The Secretary welcomed Saudi Arabia's contributions to regional security and encouraged continued collaboration on shared challenges. They agreed to remain in touch and coordinate closely on areas of mutual interest.

  • Saudi Arabia’s PIF Expands Tourism Investments Beyond Riyadh

    In July 2023, PIF established the Saudi Tourism Investment Company, known as Asfar, to spearhead the development of new tourism projects across various cities. Asfar’s mandate includes creating attractive destinations featuring hospitality venues, tourist attractions, retail outlets, and food and beverage establishments throughout the country. Furthering this initiative, PIF launched Adeera in December 2024, a hotel management company dedicated to developing indigenous Saudi hotel brands. Adeera’s goal is to construct new hotels and implement training programs for Saudi nationals, contributing to the Kingdom’s ambition of attracting 150 million tourists annually.

  • Saudi nationals make up 70% of Red Sea Global workforce: top official

    Saudi Arabia’s multi-project developer Red Sea Global currently employs 70 percent of its workforce from the local population, according to the firm’s group chief financial officer. Speaking at the PIF’s Private Sector Forum in Riyadh on Feb.13, Martin Greenslade said that the Kingdom’s leisure tourism industry witnessed substantial growth in recent years, as the country welcomed 17.5 million tourists in 2024, representing a rise of 656 percent compared to 2019. These developments align with Saudi Arabia’s National Tourism Strategy, which aims to attract 150 million tourists by the end of this decade.

  • Saudi Arabia to lead region’s initial public offerings in 2025 — EY

    The outlook for initial public offerings in the Middle East and North Africa region remains positive in 2025, with Saudi Arabia leading the market with 27 potential listings, according to an analysis. In its latest report, professional services network firm EY said the overall MENA region was expected to witness the listing of 38 companies and 22 funds in 2025, across a variety of sectors. Three listings are in the pipeline of the exchanges in the UAE, while Qatar is expected to witness one IPO. This comes as the Gulf Cooperation Council region has emerged as a hotspot for IPOs in recent years, fueled by robust economic reforms, diversification efforts away from oil dependence, and growing interest from both regional and international investors.

  • How Trump’s dealmaker is shaping U.S. foreign policy

    Witkoff has an expanding portfolio that now includes Trump's biggest geopolitical challenge — negotiating a deal to end the war between Russia and Ukraine as part of a controversial reset of U.S. foreign policy. Trump's cage-rattling agenda — which has shocked European allies — is a keystone of his second term. He'll rely heavily on Witkoff, a billionaire real estate investor and friend for 40 years, to make it happen.