Saudi Arabia’s Crown Prince Mohammed bin Salman announced plans on Friday to invest $600 billion in the United States.
Saudi Arabia’s Crown Prince Mohammed bin Salman announced plans on Friday to invest $600 billion in the United States over the next four years. The move aims to deepen economic ties between the two nations, expanding trade and investment in both public and private sectors.
This announcement follows a phone call between the Crown Prince and U.S. President Donald Trump, who has made efforts to strengthen relations with Saudi Arabia throughout his previous presidency.
Faisal al-Ibrahim, Saudi Arabia’s Economy Minister, revealed the details of the proposed investment at the World Economic Forum in Davos, emphasizing that the funds would be directed towards a range of projects, including procurement from both Saudi public and private sectors.
Al-Ibrahim also addressed questions regarding oil market stability, stating that Saudi Arabia and OPEC's goal remains long-term oil market stability, rejecting suggestions to cut oil prices at the behest of President Trump.
The $600 billion investment, which includes a variety of sectors, represents a shift from the historically oil-dependent U.S.-Saudi relationship. Saudi Arabia has recently increased investments in U.S. businesses, including sports and defense sectors. The U.S. has also increasingly reduced its dependency on Saudi oil in favor of other energy sources, but defense ties remain strong, with Saudi Arabia heavily reliant on U.S. weapons and military systems.
The announcement of such a significant investment comes as Saudi Arabia seeks to position itself as a key global economic player, reducing its dependence on oil revenues and fostering deeper ties with the U.S.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 12th of December, covering the latest developments you need to...
NATO's Secretary-General urged European leaders to step up defence efforts to prevent a war waged by Russia, that could be "on the scale of war our gr...
A powerful magnitude 6.7 earthquake has struck northern Japan, triggering tsunami warnings and forcing thousands of residents to flee to higher ground...
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a peri...
Ukraine has presented the U.S. with a revised 20-point framework to end the war with Russia, President Volodymyr Zelenskyy said on Thursday, adding th...
Time Magazine has chosen the creators behind artificial intelligence as its 2025 Person of the Year, highlighting the technology’s sweeping impact on global business, politics and daily life.
U.S. President Donald Trump has formally launched a scheme offering fast-tracked U.S. visas to foreigners who can pay at least $1 million — or companies willing to spend $2 million to sponsor a worker they want to bring into the country.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
Ukraine faces a narrowing diplomatic space as pressure builds around U.S. backed peace proposals, warning that the structure of the conflict may leave little room to avoid difficult territorial choices.
In a dramatic Champions League clash at Baku’s Tofiq Bahramov Stadium, Qarabağ grabbed an early lead, but Ajax staged a thrilling comeback to win 4-2.
A powerful magnitude 6.7 earthquake has struck northern Japan, triggering tsunami warnings and forcing thousands of residents to flee to higher ground.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
Iran's President Massoud Pezeshkian has begun a two day visit to Kazakhstan, with officials from both sides describing the trip as an opportunity to advance cooperation in trade, transport, industry, mining and cultural exchanges.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 12th of December, covering the latest developments you need to know.
NATO's Secretary-General urged European leaders to step up defence efforts to prevent a war waged by Russia, that could be "on the scale of war our grandparents and great-grandparents endured".
A powerful magnitude 6.7 earthquake has struck northern Japan, triggering tsunami warnings and forcing thousands of residents to flee to higher ground.
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a period of prolonged political instability on the eve of the Black Sea nation's entry into the euro zone.
Ukraine has presented the U.S. with a revised 20-point framework to end the war with Russia, President Volodymyr Zelenskyy said on Thursday, adding that the issue of ceding territory remains a major sticking point in negotiations.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment