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Business Middle East

  • *Arabtec soars in Dubai after it wins big order for tower. RIYADH, May 21- Saudi Arabia's stock market outperformed a sluggish region on Sunday after U.S. and Saudi companies signed over $200 billion of deals during the visit to Riyadh by President Donald Trump. "Sentiment is high because of the deals," said Talal Samhouri, head of asset management at Qatar's Amwal,...

  • *OPEC panel looked into extension and deeper cut scenario. *OPEC, non- OPEC meet on May 25 in Vienna. RIYADH, May 21- OPEC and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut.

  • Expect more collaboration between US/Saudi private sectors: Pro

    Fahd Al-Rasheed, group CEO of King Abdullah Economic City, reflects on what U.S. President Donald Trump's visit to Saudi Arabia means for the countries' relationship.

  • Saudi Arabia and non- OPEC member Russia, the world's top two oil producers, have agreed on the need to prolong the current deal on cuts, which expires in June, until March 2018. The panel, the Economic Commission Board, does not set policy and its meeting precedes the gathering of OPEC and non- OPEC oil ministers on May 25 to decide whether to extend beyond June 30 their...

  • *Energy minister says deals worth over $200 billion signed. President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. Energy minister Khalid al-Falih said deals involving all companies totalled over $200 billion, many of them designed to produce things in Saudi Arabia that had previously been imported.

  • Neither Russia nor the U.S. can be relied upon to stump up for Syria's hefty reconstruction bill, says the EU’s foreign policy chief.

  • *Announced during Donald Trump's visit to Riyadh. RIYADH, May 20- The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia's main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. In addition to Softbank and Saudi Arabia's Public...

  • RIYADH, May 20- U.S. private equity firm Blackstone and Saudi Arabia's main sovereign wealth fund said on Saturday they planned to create a $40 billion vehicle to invest in infrastructure projects, mainly in the United States. Blackstone said it expected the vehicle to have $40 billion of equity commitments, with a $20 billion anchor investment from the PIF with...

  • Germany’s Federal Minister of Defense Ursula von der Leyen and Norwegian Minister of Foreign Affairs Borge Brende talk about Daesh, the Marshall Plan and fighting conflict.

  • Peter Maurer, president of the International Committee of the Red Cross, says “political convergence on the international level has to be backed up by good humanitarian development cooperation early on."

  • Publicis CEO on how to reach out to youths amidst radicalism risks

    Publicis Groupe CEO Maurice Levy talks about how governments in the MENA and European region can connect with the younger population, with comment on Daesh’s influence.

  • US has capacity to grow much better than currently: Publicis CEO

    Publicis Groupe CEO Maurice Levy says the conditions for delivering a minimum growth of around 3 percent are there, when discussing the U.S.’ economic outlook.

  • May 20- U.S. and Saudi Arabian companies signed tens of billions of dollars of business deals on Saturday as Riyadh sought help to develop its economy beyond oil during a visit by President Donald Trump. --GE said it signed $15 billion of business deals with Saudi Arabia, involving almost $7 billion of goods and services from GE itself. --Exxon Mobil and Saudi Basic...

  • *Follows similar slew of deals signed in Asia. RIYADH, May 20- U.S. and Saudi Arabian companies signed business deals worth tens of billions of dollars on Saturday during a visit by President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. Energy minister Khalid al-Falih said deals involving all companies totalled over $200 billion, many of...

  • TEHRAN, Iran— Iran has sanctioned nine more U.S.-linked businesses, organizations and people over America's sanctions over its ballistic missile program. Those targets include Booz Allen Hamilton of McLean, Virginia; shipbuilder Huntington Ingalls Industries of Newport News, Virginia; cyber-security firm Kingfisher Systems of Falls Church, Virginia; and...

  • RIYADH, May 20- U.S. technology and engineering conglomerate GE said on Saturday it had signed $15 billion of business deals with Saudi Arabia as part of the kingdom's drive to diversify its economy beyond oil. It came as dozens of senior U.S. business executives met Saudi counterparts at a conference coinciding with the visit of President Donald Trump to Riyadh.

  • RIYADH, May 20- National oil firm Saudi Aramco is looking for opportunities to expand in the United States over the next 10 years, and wants to develop the business of its Motiva refinery in that country, chief executive Amin Nasser said on Saturday. "Motiva is something we are considering seriously to look at expanding its footprint in the United States," he told...

  • DEAD SEA, Jordan— The Latest developments at the World Economic Forum in Jordan:. The EU foreign policy chief says Europe does "not see eye to eye" with the Trump administration on major issues such as trade, climate change and funding of U.N. agencies, but can "easily" work with the U.S. on Syria and the Israeli-Palestinian conflict. Trump visits Europe next week, after...

  • RIYADH, May 20- National oil giant Saudi Aramco expects to sign $50 billion of deals with U.S. companies on Saturday, part of a drive to diversify the kingdom's economy beyond oil exports, Aramco's chief executive Amin Nasser said. Among the deals, executives said, were a plan by Jacobs Engineering Group Inc for a joint venture with Aramco to manage business...

  • RIYADH, May 20- National oil giant Saudi Aramco expects to sign $50 billion of deals with U.S. companies on Saturday, part of a drive to diversify the kingdom's economy beyond oil exports, Aramco's chief executive Amin Nasser said on Saturday. Nasser was speaking at a conference of scores of senior U.S. and Saudi business executives, coinciding with the visit of U.S.