Saudi Arabia

The U.S. Secretary of State, Antony Blinken, has embarked on a diplomatic mission to the Middle East to prevent a potential regional war. His itinerary includes visits to the United Arab Emirates, Saudi Arabia, and Israel. What Happened: Blinken set out on a five-day diplomatic journey starting...

China and Saudi Arabia have agreed on a currency swap deal worth approximately $7 billion. This agreement signifies another move in the worldwide trend of de-dollarization, as nations shift from the US dollar. The three-year deal allows for a maximum of 50 billion yuan or 26 billion riyals,...

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, has argued that the recent drop in oil prices is not due to weakened demand but rather the result of speculative trading. What Happened: Prince Abdulaziz has dismissed allegations of a dwindling demand for oil, instead...

EV maker Lucid Group Inc (NASDAQ:LCID) was banking on sales in Saudi Arabia to improve its delivery numbers. However, the company seems to be struggling in the Middle East as well. What Happened: Though the company intended to deliver more vehicles in Saudi Arabia in the third quarter, “...

Former advisor and Donald Trump’s son-in-law Jared Kushner asserted that American Jews are safer in Saudi Arabia than on U.S. college campuses amid escalating tensions over the Israel-Hamas conflict. What Happened: Kushner, on Fox News’ Sunday Morning Futures, said, “One of...

The U.S. President, Joe Biden, and Saudi Crown Prince, Mohammed bin Salman, are actively working together to curb the expansion of the ongoing Israel-Hamas conflict, the White House announced. The Hill reported that President Biden and the Crown Prince held a discussion on Tuesday,...

Saudi Arabia has expressed interest in exploring small modular nuclear reactor technology, as part of the country’s strategy to diversify its energy sources and produce cleaner power. As reported by Bloomberg, Saudi Arabia, a late-comer to nuclear power, is examining all forms...

Oil market spectators anticipate a decrease in gasoline prices in the coming months, thanks to Saudi Arabia’s production cuts that have led to high crude prices. According to a report by Business Insider, energy expert Paul Sankey expressed his views on CNBC. He stated that the...

Saudi Arabia is on the path to secure a defense pact with the U.S., with conditions tied to the establishment of diplomatic relations with Israel. Three sources familiar with the matter have revealed to Reuters that Saudi Arabia is determined to secure a military arrangement in which the U.S....

California-headquartered EV maker Lucid Group Inc. (NASDAQ:LCID) has received an operating license to start car production in Saudi Arabia. What Happened: The license allows for production within the Special Economic Zone of King Abdullah Economic City, or KAEC. “We congratulate Lucid...

Jared Kushner may retain the controversial Saudi investment in his private equity firm, even if his father-in-law, Donald Trump, is reelected as U.S. president. What Happened: In an interview with Fox News aired on Wednesday, Saudi Crown Prince Mohammed bin Salman...

Saudi Crown Prince Mohammed bin Salman insists that all parties involved in the assassination of journalist Jamal Khashoggi are currently behind bars. This statement comes ahead of the five-year remembrance of the journalist’s murder, The Hill reported. In a rare...

To gain an edge, this is what you need to know today. Difficult Fight Against Inflation Please click here for a chart of oil futures that represent West Texas Intermediate. Note the following: The chart is of West Texas Intermediate crude (WTI). WTI, as tracked by the United States...

Just months after leaving the White House in 2021, Jared Kushner secured a $2 billion investment from a Saudi crown prince-led fund, despite objections from the fund’s advisers about the deal. A panel that screens investments for the Saudi sovereign wealth fund expressed concerns about...

Once again in the spotlight, Brent crude oil prices, are at their highest levels this year. This is largely due to anticipated further reductions in oil output from major exporting countries. In a surprising move, Saudi Arabia has hinted at even more significant production cutbacks in the near...