Saudi Arabia

29 October 2022; MEMO: Saudi billionaire Al Waleed Bin Talal, one of the owners of Twitter, joined the new private Twitter company announced by Tesla and SpaceX CEO Elon Musk after acquiring the world's most famous micro-blogging site.

This was reported on Friday in a statement by the Kingdom Holding Company (KHC) and the private office of Prince Al Waleed Bin Talal.

27 October 2022; MEMO: Saudi Arabia announced plans to pour billions of dollars into investments around the Middle East but made little progress at a flagship business event this week in luring incoming funds to transform its petrodollar economy into a diversified powerhouse, Reuters reports.

27 October 2022; MEMO: Saudi Airlines has become the first in the Middle East and North Africa to invest in sustainable air transport, with plans to purchase 100 fully electric aircraft from Germany's Liliam.

The company signed a memorandum of understanding with Liliam, with the aim of developing and operating the proposed eVTOL system, an all-electric vertical take-off and landing system, throughout the kingdom.

RIYADH, Oct 26 (Reuters) - Former U.S. treasury secretary Steve Mnuchin said on Wednesday he believed the United States was in a recession and said this would continue.

Speaking at Riyadh's flagship investment conference FII, he said: "I think we'll probably see a peak of 4.5% 10-year rates."

"I think you are going to see inflation in the U.S. begin to come under control, it will probably be a two-year period," he added.

He said the U.S. and China must learn to co-exist. He added that the Middle East's economic issues need to be dealt with regionally.

RIYADH, Oct 25 (Reuters) - Saudi Arabia decided to be the "maturer guys" in a spat with the United States over oil supplies, the kingdom's energy minister Prince Abdulaziz bin Salman said on Tuesday.

The decision by the OPEC+ oil producer group led by Saudi Arabia this month to cut oil output targets unleashed a war of words between the White House and Riyadh ahead of the kingdom's Future Investment Initiative (FII) forum, which drew top U.S. business executives.

25 October 2022; MEMO: Saudi Arabia decided to be the "maturer guys" in a spat with the United States over oil supplies, the Kingdom's Energy Minister, Prince Abdulaziz bin Salman, said on Tuesday, Reuters reports.

24 October 2022; MEMO: One of Saudi Aramco's senior executives was imprisoned in India during the summer for being in possession of a satellite phone, it has emerged.

According to the Financial Times newspaper, 62-year-old Fergus MacLeod – Head of Investor Relations at the world's largest oil export company – was arrested by Indian authorities on 12 July while staying at his hotel in the northern Indian state of Uttarakhand in the Himalayas, close to the border with China.

RIYADH, Oct 24 (NNN-SPA) – Saudi Arabian Crown Prince, Mohammed bin Salman bin Abdulaziz Al Saud, launched yesterday, the Global Supply Chain Resilience Initiative.

It aims to make Saudi Arabia a preferred location for leading global industrial companies, and to attract 40 billion Saudi riyals (10.64 billion U.S. dollars) of quality, industrial and service investments in global supply chains.

RIYADH, Oct 23 (Reuters) - Saudi Arabia's crown prince on Sunday launched an initiative to attract investments in supply chains to and from the kingdom, with an aim of raising an initial 40 billion riyals ($10.64 billion).

The initiative by Prince Mohammed bin Salman will include allocating about 10 billion riyals in incentives for supply chain investors, state news agency SPA reported, without elaborating.

23 October 2022; MEMO: Saudi Crown Prince Mohammed bin Salman will not attend the Arab summit to be held on Nov. 1 in Algeria, in compliance with a doctors' recommendation to avoid travel, the Algerian presidency said in a statement late on Saturday.

Prince Mohammed, the kingdom's de-facto ruler, "expressed his regret for not attending the Arab summit", in a phone call with Algerian President Abdelmadjid Tebboune, the statement said.