萝莉视频

Saudi-US business ties grow through deeper partnerships

Special Saudi-US business ties grow through deeper partnerships
People look to a giant screen as US President Donald Trump and Saudi Crown Prince Mohammed bin Salman arrive for the Saudi-US investment forum at the King Abdul Aziz International Conference Center in Riyadh on May 13, 2025. The one-day investment summit highlighted the Kingdom鈥檚 growing appeal to US industries and the potential for strengthening ties aligned with Vision 2030. (AFP)
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Updated 27 min 34 sec ago

Saudi-US business ties grow through deeper partnerships

Saudi-US business ties grow through deeper partnerships
  • Top US executives highlight 萝莉视频鈥檚 rise as a hub for high-tech, manufacturing, and infrastructure investment

RIYADH: Mutual investments between 萝莉视频 and the US are expanding in key sectors as industry leaders from both countries eye deeper partnerships and co-development opportunities.

Speaking to Arab News on the sidelines of the Saudi-US Investment Forum, held during US President Donald Trump鈥檚 state visit to the Kingdom on Tuesday, Joseph Rank, vice president and CEO of Lockheed Martin for 萝莉视频 and Africa, said that enhanced partnerships are paving the way for two-way investments.

鈥淭his is an opportunity to really enhance our partnership and grow business. There鈥檚 actually almost too many to talk about. But the real key is growing our partnership, which then leads to investment on both sides,鈥 Rank said.




Joseph Rank, vice president and CEO of Lockheed Martin for 萝莉视频 and Africa. (AN photo)

Lockheed Martin鈥檚 role in the Kingdom is shifting from traditional collaboration to advanced manufacturing and technology sharing, Rank said.

鈥淲e used to build things here. Now we鈥檙e actually manufacturing things here. So the big opportunity is manufacturing, co-production, co-development and transfer of technology,鈥 he said.

鈥淭his is jobs for Lockheed Martin in the US and jobs for Saudi industry here. A win-win-win.鈥

Marc Winterhoff, interim CEO of electric vehicle manufacturer Lucid Group Inc., stressed the importance of 萝莉视频 as a manufacturing base, with its King Abdullah Economic City facility expected to reach a 150,000-unit capacity.




Marc Winterhoff, interim CEO of electric vehicle manufacturer Lucid Group Inc., is pictured at the Saudi-US Investment Forum in Riyadh on Tuesday. (AN photo)

鈥淲e have very, very close ties to 萝莉视频, both from an investment point of view, but also we鈥檙e building a big plant in KAEC here,鈥 he said, adding that 65 percent of the workforce is currently made up of Saudi citizens.

鈥淭here鈥檚 a lot of investment going into this plant to build vehicles for the local market, but then also for exports.鈥

Winterhoff said Lucid is also working with Saudi research institutions, including King Abdullah University of Science and Technology, to co-develop advanced technologies like artificial intelligence models, autonomous driving, and crash simulation.

Sadek Wahba, chairman and managing partner of I Squared Capital, echoed the sentiment, describing the forum as a reflection of enduring US-Saudi economic cooperation and the role infrastructure will play in future development.




Sadek Wahba, chairman and managing partner of I Squared Capital is pictured at the Saudi-US Investment Forum in Riyadh on Tuesday. (AN photo)

鈥淭he event represents the best of what you can find in Saudi in the cooperation that can exist between the United States and 萝莉视频.

鈥淐ooperation that already exists for the last decades, and I think will continue to flourish over the coming period,鈥 Wahba said.

He said the company sees significant opportunity in 萝莉视频鈥檚 infrastructure sector, particularly in telecoms, digital infrastructure, transport and logistics.

IN NUMBERS

鈥 $1billion+ Planned investment by I Squared Capital, with backing from the Saudi PIF and others. 鈥 65% Of Lucid鈥檚 workforce in the Kingdom is made up of Saudi citizens.

The biggest investment opportunities are in transport and logistics, he said, citing the growing needs of a rapidly developing economy.

Wahba also announced a memorandum of understanding with the Public Investment Fund to establish a Middle East infrastructure fund focused mainly on 萝莉视频.

鈥淚 Squared Capital is looking to invest over $1 billion over the coming years, and PIF and others will be contributing to that effort,鈥 he said.

Meanwhile, Kathy Warden, president and CEO of Northrop Grumman Corp., emphasized the company鈥檚 longstanding partnership with the Kingdom and its commitment to investing in defense and local talent.




Kathy Warden, president and CEO of Northrop Grumman Corp., is pictured at the Saudi-US Investment Forum in Riyadh on Tuesday. (AN photo)

Warden said that the company signed a memorandum of intent with the Saudi government鈥檚 General Authority of Military Industries to procure capabilities from Northrop Grumman, which total nearly $14 billion.

The US company is also partnering locally with 萝莉视频n Military Industries to deliver its capabilities.

鈥淭hese investments will contribute to the security and safety of the Kingdom and also create local jobs that are high-skilled engineering jobs,鈥 she added.

From a technology perspective, Chris Rouland, founder and CEO of Phosphorus Cybersecurity Inc., emphasized the need to secure AI and data-driven systems as 萝莉视频 ramps up its digital transformation.




Chris Rouland, founder and CEO of Phosphorus xIOT Cybersecurity Inc., is pictured at the Saudi-US Investment Forum in Riyadh on Tuesday. (AN photo)

鈥淚 think one thing that was overlooked in today鈥檚 conversations was the importance of security in artificial intelligence,鈥 Rouland said. 鈥淛ust as security and safety has made the Kingdom such a great place to do business, security and privacy are very important for AI and data centers.鈥

He said that the company is exploring a joint venture in 萝莉视频 aimed at securing Internet of Things infrastructure and AI systems to prevent exploitation by cybercriminals.

The forum underscored the Kingdom鈥檚 growing role as a magnet for American industry leaders seeking to invest in sectors aligned with Vision 2030 鈥 from defense and infrastructure to advanced manufacturing and cybersecurity 鈥 reinforcing Saudi-US economic ties built on shared long-term objectives.



US and Qatar sign agreements worth $1.2 trillion听during Trump鈥檚 visit to Doha

US and Qatar sign agreements worth $1.2 trillion听during Trump鈥檚 visit to Doha
Updated 15 May 2025

US and Qatar sign agreements worth $1.2 trillion听during Trump鈥檚 visit to Doha

US and Qatar sign agreements worth $1.2 trillion听during Trump鈥檚 visit to Doha
  • Deals include听massive order from Qatar Airways to buy 210 Boeing jets for $96 billion
  • Trump urges Qatar to use its influence over Iran听to stop proxy wars as condition for nuclear deal

DOHA: US President Donald Trump and Qatar鈥檚 Emir Sheikh Tamim bin Hamad Al-Thani agreed deals in Doha on Wednesday that the White House said were worth $1.2 trillion, including a massive order from Qatar Airways to buy Boeing aircraft.
Qatar Airways will buy up to 210 Boeing 777X and 787 widebody jets for $96 billion in a coup for both Trump and the planemaker.

Trump said he and Sheikh Tamim also discussed Iran, the Russia-Ukraine war, strengthening ties in defense, investment, energy, education and cybersecurity. They also touched on preparations for the FIFA World Cup 2026 and the 2028 Olympics, which will be hosted in the US.

The two leaders also witnessed the signing of a joint declaration of cooperation between the two governments, and letters of offer and acceptance for MQ-9B drones and the FS-LIDS anti-drone system, Qatar News Agency reported.
President Trump thanked the emir for Qatar鈥檚 warm hospitality and described Sheikh Tamim as a longtime friend and trusted partner. 鈥淲e always had a very special relationship,鈥 he said of the emir.
Senior Qatari ministers and US cabinet officials, including the secretaries of state, defense, treasury, commerce and energy, also attended the talks and signing ceremony.

Talks with Iran
Trump also urged Qatar to use its influence over Iran to persuade the country鈥檚 leadership to reach an agreement with the US to dial back its rapidly advancing nuclear program.
Qatar over the years has played the role of intermediary between the US and Iran and its proxies, including during talks with Tehran-backed Hamas as its 19-month war with Israel grinds on.
鈥淚 hope you can help me with the Iran situation,鈥 Trump said during remarks at the state dinner. 鈥淚t鈥檚 a perilous situation, and we want to do the right thing.鈥
Trump wants Iran to stop backing militant proxy groups.
Earlier, before he left 萝莉视频 for Qatar, Trump said he wanted to reach an agreement with Iran on its nuclear program, but Tehran must end its support for proxy militias throughout the Middle East.
Iran 鈥渕ust stop sponsoring terror, halt its bloody proxy wars, and permanently and verifiably cease pursuit of nuclear weapons,鈥 Trump told Gulf leaders at a GCC summit in Riyadh. 鈥淭hey cannot have a nuclear weapon.鈥
The president鈥檚 demand for Iran to cease support of Hamas in Gaza, Hezbollah in Lebanon, and the Houthis in Yemen comes as Tehran鈥檚 proxy network faces significant setbacks. 
Hezbollah is severely weakened after a war with Israel in which many of its leaders were killed, and it lost a key ally with the fall of Syrian dictator Bashar Assad, a conduit for Iran to send arms. 

Terror-free future
Trump said the moment was ripe 鈥渇or a future free from the grip of Hezbollah terrorists.鈥
In Gaza, Hamas has been militarily decimated by an Israeli offensive since October 2023. 
Only the Houthis in Yemen have emerged relatively unscathed from an American bombing campaign that ended last week with a unilateral US ceasefire.
The US and Iran have had four rounds of nuclear talks since last month. 
萝莉视频 fully supported the talks and hoped for positive results, Foreign Minister Prince Faisal bin Farhan said on Wednesday. 
Earlier, the leaders of the US and Syria met face-to-face for the first time in 25 years. 
Ahmad Al-Sharaa, interim president of the Syrian Arab Republic, flew to Riyadh a day after Trump said he would lift sanctions on the Syrian economy after discussions with Saudi Crown Prince and Prime Minister Mohammed bin Salman.

 

 

The crown prince joined Trump and Al-Sharaa for the meeting. Turkish President Recep Tayyip Erdogan took part via video conference. 
Syria鈥檚 Foreign Ministry hailed the meeting as 鈥渉istoric,鈥 and said the two leaders had discussed 鈥渁venues for Syrian-American partnership in counterterrorism efforts鈥 and the importance of supporting reconstruction.
There was elation on the streets of Damascus and other cities, with cheering, dancing and celebratory gunfire as Syrians rejoiced in their relief from US sanctions.
鈥淭hese sanctions were imposed on Assad, but ... now that Syria has been liberated, there will be a positive impact on industry, it鈥檒l boost the economy and encourage people to return,鈥 said Aleppo soap factory owner Zain Al-Jabali, 54.

US President Donald Trump, Qatar鈥檚 Emir Sheikh Tamim bin Hamad Al-Thani and Boeing CEO Kelly Ortberg at the Royal Palace in Doha on Wednesday. (AFP)

Big win for Trump and Boeing
The Qatar Airways deal for Boeing 777X and 787 planes with GE Aerospace engines is a win for Trump on a high-profile visit to the region, even though it will be years before the jets are delivered.
The sale is also a boost for Boeing and its biggest engine supplier at a time when large versions of rival Airbus鈥 A350, powered by Rolls-Royce engines, have struggled with maintenance problems from operating in the world鈥檚 hottest climates, including the Gulf region. The agreement is for 160 firm orders 鈥 130 787s and 30 777Xs 鈥 and options for another 50 of the two long-haul airplanes, according to Boeing. The company鈥檚 shares rose 0.6 percent in New York, while GE Aerospace stock gained 0.7 percent.
For the 787s, Qatar opted for GE Aerospace鈥檚 GEnx engines rather than Rolls-Royce鈥檚 Trent 1000, according to the administration. GE Aerospace鈥檚 GE9X is the only engine option for the 777X. The deal for 400 GE engines is the largest ever for GE Aerospace, the company鈥檚 CEO Larry Culp said in a statement, a point echoed by Qatar Airways, which told Reuters in March that it was working on a large order for widebody jets.
Trump and Qatar鈥檚 Emir Sheikh Tamim bin Hamad Al-Thani joined a signing ceremony with Boeing CEO Kelly Ortberg and Qatar Airways CEO Badr Mohammed Al-Meer. Trump said Ortberg told him it was the largest jet order in Boeing鈥檚 history. 
The 777X is still in development and slated to start deliveries in 2026, six years behind schedule. Qatar Airways already has orders for 94 777Xs. Its competitor, Emirates, has orders for 205 777Xs. The two airlines were among the first customers when Boeing launched the program in 2013.
Boeing鈥檚 order book included 521 777X orders and 828 787 orders as of April 30, according to the company. 

(With Agencies)


Aramco signs 34 agreements worth $90bn with US firms to boost innovation, growth

Aramco signs 34 agreements worth $90bn with US firms to boost innovation, growth
Updated 14 May 2025

Aramco signs 34 agreements worth $90bn with US firms to boost innovation, growth

Aramco signs 34 agreements worth $90bn with US firms to boost innovation, growth

RIYADH: Saudi energy giant Aramco signed 34 agreements and memorandums of understanding worth approximately $90 billion with major US companies, as it seeks to advance its long-term strategy and strengthen innovation.

Signed on the sidelines of the Saudi-US Investment Forum, the agreements span a wide array of sectors including liquefied natural gas, chemicals, and fuels, as well as artificial intelligence and emission-reduction technologies. 

The forum was held on the occasion of the US President Donald Trump鈥檚 state visit to the Kingdom.

In a statement, the energy company鈥檚 president and CEO, Amin Nasser, said the announcements 鈥渟how the breadth and depth of Aramco鈥檚 long history of partnerships with US companies since the first discovery of oil in the Kingdom more than 90 years ago.鈥 

He added: 鈥淥ur US-related activities have evolved over the decades, and now include multidisciplinary R&D, the Motiva refinery in Port Arthur, startup investments, potential collaborations in LNG, and ongoing procurement.鈥

In the downstream sector, Aramco inked deals with Honeywell UOP and Motiva for technology licensing and an aromatics project at the Port Arthur refinery, respectively.

It also signed agreements with Afton Chemical to develop chemical fuel additives, and with ExxonMobil to evaluate a major upgrade to the SAMREF refinery, potentially transforming it into a world-class integrated petrochemical complex.

For upstream developments, Aramco鈥檚 deals included a memorandum with Sempra Infrastructure linked to the Port Arthur LNG 2 project, a collaboration with Woodside Energy to explore global opportunities including lower-carbon ammonia, and a final agreement with NextDecade for the long-term purchase of 1.2 million tonnes per annum of LNG from the Rio Grande LNG Facility.

Technology and innovation were at the heart of several agreements. A strategic framework was signed with Amazon Web Services to cooperate on digital transformation and lower-carbon initiatives.

With NVIDIA, Aramco agreed to establish advanced industrial AI infrastructure, an AI Hub, and training programs. Qualcomm also signed an MoU with Aramco Digital to explore connectivity solutions using Aramco鈥檚 450 MHz 5G network.

Aramco鈥檚 procurement arm reinforced its links with major US service and equipment providers, including SLB, Baker Hughes, Halliburton, and Emerson, while partnerships in asset management and finance were inked with PIMCO, State Street, and Wellington, as well as BlackRock, Goldman Sachs, and Morgan Stanley, among others.

Additional agreements included a plan with Guardian Glass to localize specialty glass manufacturing in the Kingdom.

These deals reflect Aramco鈥檚 commitment to fostering industrial development, technological advancement, and long-term partnerships that align with its strategic vision and the Kingdom鈥檚 broader economic diversification goals.


Saudi wealth fund signs $11bn deals to boost financial markets

Saudi wealth fund signs $11bn deals to boost financial markets
Updated 14 May 2025

Saudi wealth fund signs $11bn deals to boost financial markets

Saudi wealth fund signs $11bn deals to boost financial markets
  • PIF partners with Franklin Templeton, Neuberger Berman, and BlackRock to accelerate Vision 2030 goals

RIYADH: 萝莉视频鈥檚 Public Investment Fund has signed a series of landmark agreements with leading US financial institutions worth a combined potential investment of up to $11 billion, signaling a major push to strengthen and diversify the Kingdom鈥檚 capital markets as part of Vision 2030.

The deals 鈥 sealed with Franklin Templeton, Neuberger Berman, and BlackRock 鈥 aim to boost local asset management capabilities, deepen investor participation, and enhance the Kingdom鈥檚 global financial standing.

These agreements were signed during US President Donald Trump鈥檚 visit to Riyadh, underscoring the deepening economic ties between the two nations and the Kingdom鈥檚 growing role as a regional and global financial hub.

Agreement with Franklin Templeton

In a major step toward diversifying 萝莉视频鈥檚 investment landscape, PIF signed a memorandum of understanding with Franklin Templeton to jointly invest up to $5 billion. The collaboration will span Saudi equities and fixed income strategies across both public and private markets.

According to a joint statement, the agreement focuses not only on capital deployment but also on knowledge transfer, talent development, and innovation within the local asset management sector.

The move aligns with PIF鈥檚 broader agenda to partner with top global financial institutions and expand its international investment portfolio.

Neuberger Berman joins forces with PIF

In a separate deal, the wealth fund has partnered with Neuberger Berman to launch a Riyadh-based multi-asset investment platform with up to $6 billion in assets. The US firm, which manages $515 billion globally, will establish operations in 萝莉视频 鈥 pending regulatory approval 鈥 covering equities, fixed income, and private market strategies.

George Walker, CEO of Neuberger Berman, emphasized the firm鈥檚 commitment to building local teams, promoting education, and aligning with regional investment priorities under Vision 2030. The agreement is expected to attract further international interest and bolster the Kingdom鈥檚 standing as a global investment destination.

Collaboration with BlackRock

Building on an existing relationship, PIF and BlackRock have signed a non-binding letter of intent to deepen their collaboration via a new index mandate focused on Saudi equities. The initiative, announced at the Saudi-US Investment Forum in Riyadh, will be managed through BlackRock鈥檚 Riyadh Investment Management platform, established in 2024.

The expanded partnership underscores PIF鈥檚 confidence in BlackRock鈥檚 capabilities and highlights efforts to diversify investment offerings and advance 萝莉视频鈥檚 capital market ecosystem. While the agreement is subject to regulatory and internal approvals, it marks a significant step in positioning Saudi equities on the global stage.

These agreements follow a series of high-profile engagements aimed at strengthening Saudi-US economic ties, including recent discussions around broader investment flows.

Collectively, the new partnerships reinforce the PIF鈥檚 role as a catalyst for financial transformation, in line with the national agenda to diversify the economy and promote sustainable growth.

PIF鈥檚 latest annual report revealed a 390 percent surge in assets under management since the 2016 launch of Vision 2030 鈥 underscoring the rapid pace of institutional development and global investor interest in the Kingdom.


ACWA Power expands Saudi-US energy cooperation with $500m deals

ACWA Power expands Saudi-US energy cooperation with $500m deals
Updated 14 May 2025

ACWA Power expands Saudi-US energy cooperation with $500m deals

ACWA Power expands Saudi-US energy cooperation with $500m deals

RIYADH: 萝莉视频鈥檚 ACWA Power has signed new agreements worth $500 million with several US firms, further solidifying its strategic ties with the country and expanding the scope of joint energy projects to over $6 billion.

The memorandums of understanding were formalized during the Saudi-US Investment Forum held in Riyadh, underlining ACWA Power鈥檚 ongoing commitment to leveraging international partnerships in support of the Kingdom鈥檚 Vision 2030 goals and its net zero target by 2060.

The agreements come in the wake of US President Donald Trump鈥檚 visit to 萝莉视频, during which he was accompanied by a delegation of leading business figures.

鈥淭hese strategic partnerships with leading American companies are a direct investment in the future of 萝莉视频, aligning with the key objectives of Vision 2030,鈥 said Raad Al-Saady, vice chairman and managing director of ACWA Power.

He added: 鈥淎CWA Power is committed to leveraging American innovation and expertise to accelerate the development of renewable energy solutions, creating jobs, diversifying the economy, and supporting a sustainable future for the Kingdom.鈥

Among the highlights of the new collaborations, ACWA Power will work on deploying advanced tracker technologies for photovoltaic solar energy projects, with the aim of reducing energy costs and boosting local production.

鈥淎CWA Power鈥檚 strategy is driven by value-driven partnerships like these. Access to cutting-edge technology and expertise is critical as we diversify our portfolio, expand into new markets, and achieve our objectives in meeting net zero by 2050,鈥 said Marco Arcelli, CEO of ACWA Power.

The Saudi-listed company also signed a deal with GE Vernova to test innovations in combined-cycle gas turbine projects and electricity transmission and distribution systems within the Kingdom.

A separate agreement was signed with Baker Hughes to pilot innovations in green hydrogen production.

The collaboration aims to leverage the US-based firm鈥檚 technical expertise in developing electrolysis solutions that enhance the safety and efficiency of hydrogen generation.

The partnership may also pave the way for in-Kingdom manufacturing, fostering a local ecosystem for innovation in green hydrogen technologies.

In addition, ACWA Power announced a partnership with KBR for the execution of large-scale projects. 

The agreement will utilize the US firm鈥檚 ammonia processing technology and engineering capabilities, alongside its program management and operational expertise to ensure project success.

Another agreement involves Energy Recovery, focusing on research into energy-saving operation technologies in seawater desalination.


Oman, Japan sign deal to tackle environmental issues

Oman, Japan sign deal to tackle environmental issues
Updated 14 May 2025

Oman, Japan sign deal to tackle environmental issues

Oman, Japan sign deal to tackle environmental issues

RIYADH: Oman鈥檚 Environment Authority and Japan鈥檚 Ministry of the Environment have signed a bilateral agreement aimed at enhancing cooperation on environmental issues and advancing sustainable development, according to the Oman News Agency.

The agreement seeks to strengthen the implementation of international environmental treaties, including the Paris Agreement, and lays the groundwork for a collaborative framework based on equality, reciprocity, and mutual benefit.

To combat climate change, Oman has launched a national plan aiming for zero-carbon neutrality by 2050. The strategy includes a comprehensive transition of the energy sector toward renewable sources, enhanced energy efficiency, and significant emission reductions across all sectors.

The pact was signed by Abdullah bin Ali Al-Amri, chairman of Oman鈥檚 Environment Authority, and Matsuzawa Yutaka, vice-minister for Global Environmental Affairs at Japan鈥檚 Ministry of the Environment. The signing ceremony was attended by Japan鈥檚 Ambassador to Oman Kiyoshi Serizawa.

Key areas of cooperation outlined in the agreement include climate change mitigation and adaptation, waste management, biodiversity conservation through nature-based solutions, and environmental monitoring.

The two nations also agreed to collaborate on training programs, expert exchanges, scientific research, and joint initiatives. The partnership will promote knowledge sharing and foster dialogue on both current and emerging environmental challenges.