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U.S. President departs Riyadh following a ‘historic’ visit

1 day ago | economymiddleeast.com | Elias AL Helou

U.S. President Donald Trump left Riyadh on Wednesday afternoon after wrapping up a two-day visit highlighted by important agreements and announcements. Trump began his Gulf tour in Saudi Arabia’s capital, arriving on Tuesday for bilateral discussions with Saudi Crown Prince Mohammed bin Salman. He is also set to visit Qatar and the UAE as part of this regional tour.
Abu Dhabi, Saudi Crown Princes discuss bilateral cooperation at GCC-U.S. Summit

1 day ago | economymiddleeast.com | Elias AL Helou

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met, today, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, on the sidelines of the Gulf–U.S. Summit held in Riyadh.
Saudi Crown Prince highlights $120 billion trade volume

1 day ago | economymiddleeast.com | Elias AL Helou

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, emphasized the importance of economic partnership with the United States during the opening of the GCC-U.S. summit in Riyadh on Wednesday. The Saudi Crown Prince noted that the U.S. is a crucial trading partner, with bilateral trade between the GCC countries and the U.S. reaching $120 billion in 2024.
GCC-U.S. Summit kicks off in Riyadh amid rising economic ties

1 day ago | economymiddleeast.com | Elias AL Helou

The fifth GCC-U.S. Summit officially kicked off today, Wednesday, in Riyadh. This summit coincides with U.S. President Donald Trump‘s visit to Saudi Arabia, focusing on key issues including economic, trade, investment, and regional security matters. The summit, taking place at the King Abdulaziz International Conference Center, will address the current economic landscape both regionally and globally, as well as explore avenues for achieving peace in the region.
Abu Dhabi’s EMSTEEL delivers $599 million in revenue for Q1 2025

1 day ago | economymiddleeast.com | Elias AL Helou

EMSTEEL, Abu Dhabi-based publicly traded steel and building materials manufacturer, reported revenues of AED2.2 billion ($599 million) for Q1 2025, representing a 1 percent increase compared to the same period last year. The group announced its financial results for the announced its financial results for the first quarter of 2025.
PIF’s HUMAIN and Amazon Web Services launch $5 billion AI zone

1 day ago | economymiddleeast.com | Elias AL Helou

Amazon Web Services, Inc. (AWS), a subsidiary of Amazon.com, Inc., along with HUMAIN, the newly established entity in Saudi Arabia dedicated to spearheading AI innovation both nationally and globally, has unveiled plans to invest over $5 billion in a strategic partnership aimed at developing a pioneering “AI Zone” within the Kingdom.
HUMAIN and AWS Unveil $5 Billion AI Zone in Saudi Arabia to Accelerate Global AI Leadership

1 day ago | economymiddleeast.com | Elias AL Helou

Amazon Web Services, Inc. (AWS), a subsidiary of Amazon.com, Inc., along with HUMAIN, the newly established entity in Saudi Arabia dedicated to spearheading AI innovation both nationally and globally, has unveiled plans to invest over $5 billion in a strategic partnership aimed at developing a pioneering “AI Zone” within the Kingdom.
Trump celebrates historic ties with Saudi Arabia in Diriyah following $600 billion investment announcement

1 day ago | economymiddleeast.com | Elias AL Helou

Saudi Crown Prince Mohammed bin Salman welcomed U.S. President Donald Trump to Diriyah on Tuesday evening, where the two leaders toured the area and had dinner in the historic district due to its significance, following the conclusion of the first day of Trump’s visit to the Kingdom. Diriyah, the ancestral home of the Al Saud family, holds a special historical and cultural place in the hearts of Saudis.
Abu Dhabi’s Crown Prince Sheikh Khaled arrives in Riyadh to attend GCC-U.S. Summit

1 day ago | economymiddleeast.com | Elias AL Helou

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has arrived in Riyadh to lead the UAE delegation at the GCC-U.S. Summit, representing President His Highness Sheikh Mohamed bin Zayed Al Nahyan. Upon arrival at King Khalid International Airport, His Highness was warmly welcomed by His Royal Highness Prince Mohammed bin Abdulrahman bin Abdulaziz, Deputy Governor of the Riyadh Region, along with several senior Saudi officials, Abu Dhabi Media Office reported.
Crude oil prices dip to $66.24, near two-week highs amid U.S.-China tariff optimism

1 day ago | economymiddleeast.com | Elias AL Helou

Oil prices dipped on Wednesday as traders carefully watched for a potential rise in U.S. crude inventories, raising concerns in the market. Despite this decline, prices stayed near two-week highs, reflecting optimism from the recent agreement between the United States and China to temporarily lower their reciprocal tariffs. This development indicated a potential easing of trade tensions that have affected global markets for an extended period.