Economy Biden brings Palestinians aid but no new peace plan US President Joe Biden will not come with a plan to restart the stalled Israel-Palestinian peace process when he visits the West Bank on Friday, at the end of the first leg of his Middle East trip, a senior administration official said. Biden will restate his backing for a two-state solution to the decades-long conflict […] July 15, 2022
Biden Middle East Biden heads to Saudi Arabia amid tension over oil President Joe Biden will discuss energy supply, human rights, and security cooperation in Saudi Arabia on Friday on a trip designed to reset the US relationship with a country he once pledged to make a “pariah” on the world stage. Biden will hold meetings with Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed […] July 15, 2022
Retail Amazon reducing its private-label items as sales fall Amazon.com Inc has started reducing the number of items it sells under its own brands amid weak sales, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The company has also discussed the possibility of exiting the private-label business entirely to alleviate regulatory pressure, the report added. Amazon, however, said it […] July 15, 2022
Manufacturing US approves measure to restrict Biden plan to sell F-16s to Turkey The US House of Representatives on Thursday approved legislation that would create a new hurdle for President Joe Biden’s plan to sell F-16 fighter jets to Turkey. The House approved the measure, offered by Democratic Representatives Frank Pallone and Chris Pappas, as an amendment to the annual National Defense Authorization Act, by 244 to 179. […] July 15, 2022
Banking & Finance JPMorgan appoints co-heads of Mideast investment banking JPMorgan has appointed Hani Deaibes and Ahmed Salem as co-heads of its Middle East and North Africa investment banking business, the US bank said in a statement on Thursday. Deaibes, at JPM since 2007, was head of the bank’s debt capital markets (DCM) business for the Middle East. He was previously at Merrill Lynch in […] July 15, 2022
Analysis Development I2U2: America’s answer to curbing China and upping food security Israel, India, the US and the United Arab Emirates came together on Thursday for an historic meeting as the “I2U2” collective. The futuristic name refers to the first letters of the four countries. US president Joe Biden and Israel’s prime minister, Yair Lapid, lent the initiative a maiden boost, joining a four-way call in Jerusalem […] July 14, 2022
Analysis Biden Middle East Biden’s ‘Jerusalem Declaration’ could slash UAE-Iran trade The US and Israel pledged today to deny Iran nuclear weapons – a move that could dissuade global trade partners from dealing with Tehran, experts have said. The freshly united stance from US president Joe Biden and Israeli prime minister Yair Lapid represents a rare show of unity by allies long divided over Iran diplomacy. The […] July 14, 2022
Biden Middle East Biden savours ‘homecoming’ to Israel as Saudi leg looms Israel embraced US president Joe Biden as an old friend on Wednesday at the start of a high-stakes visit dominated by efforts to bring Israel closer to Saudi Arabia and persuade Washington’s Gulf allies to pump more oil. Landing at Ben Gurion Airport, whose runway he first trod in 1973 as a senator, Biden bumped […] July 14, 2022
Economy Iran says it and Saudi Arabia interested in more talks Iran and Saudi Arabia are interested in holding more talks, Tehran’s foreign ministry said on Wednesday, three months after a fifth round of contacts aimed at restoring relations between the Middle East’s two main rival powers. Tehran gave an update on the status of the talks as US President Joe Biden landed in Israel in […] July 14, 2022
Energy UAE president stresses support for global energy security The president of the United Arab Emirates said on Wednesday the Gulf OPEC producer would continue to support global energy security as a main driver of global economic growth, ahead of a US-Arab summit in neighbouring Saudi Arabia this week. Sheikh Mohammed bin Zayed al-Nahyan, in his first televised address since becoming president in May, […] July 14, 2022
Business of Sport Bridgestone ends deal with DeChambeau after LIV Golf move Bryson DeChambeau and Bridgestone Golf have agreed to end their brand ambassador partnership following the former major champion’s decision to join the Saudi Arabia-backed LIV Golf Invitational Series, the company said on Tuesday. DeChambeau, who is among the game’s more high-profile players and one of the longest hitters the sport has ever seen, joined LIV […] July 13, 2022
Media & Advertising Twitter tells Musk no deal obligations were breached Twitter Inc fired back at Elon Musk on Monday, accusing the world’s richest person of “knowingly” breaching an agreement to buy the social media firm, days after the Tesla Inc chief sought to back out of the $44 billion deal. In a letter sent to Musk, dated Sunday and filed with regulators on Monday, Twitter […] July 12, 2022
Analysis Biden Middle East The Biden-Saudi dilemma: To arm or not to arm? The Biden administration is reportedly discussing lifting its ban on US sales of arms to Saudi Arabia, but whether the decision is actioned remains to be seen. The internal US deliberations are informal and “at an early stage”, with no decision imminent, four sources told Reuters. But as US president Joe Biden prepares for a […] July 12, 2022
Biden Middle East US weighs resumption of offensive arms sales to Saudi Arabia The Biden administration is discussing the possible lifting of its ban on US sales of offensive weapons to Saudi Arabia. But any final decision is expected to hinge on whether Riyadh makes progress towards ending the war in neighboring Yemen, according to four people familiar with the matter. Senior Saudi officials pressed their US counterparts […] July 12, 2022
Retail Subway can be sued over its ‘100% tuna’ ads, says judge A federal judge said Subway can be sued for allegedly deceiving customers about its tuna products, including a claim it uses other fish species, chicken, pork and cattle instead of the advertised “100% tuna.” US District Judge Jon Tigar in San Francisco called it premature to accept Subway’s argument that any presence of non-tuna DNA […] July 12, 2022
Business of Sport PGA Tour probed for possible law break in fight against LIV Golf The US Justice Department is investigating whether the PGA Tour broke antitrust law in fighting off the rival LIV Golf circuit, backed by Saudi Arabia. The PGA Tour confirmed the probe, which was first reported by the Wall Street Journal. “This was not unexpected. We went through this in 1994 and we are confident in […] July 12, 2022
Economy Israel says Biden visit may lead to common Middle East market Israeli finance minister Avigdor Lieberman said today he hoped a regional visit by US president Joe Biden this week will lead to a common Middle East market that includes Saudi Arabia. Biden arrives in Israel on Wednesday and continues to Saudi Arabia on Friday. The White House has said the visit’s aims include “expanding regional […] July 11, 2022
Media & Advertising Twitter says it removes over 1 million spam accounts each day Twitter removes more than 1 million spam accounts each day, executives told reporters in a briefing on Thursday, providing new insight into efforts to reduce harmful automated bots as billionaire Elon Musk has demanded more details from the social media company. The briefing comes after Musk threatened to halt a $44 billion deal to purchase […] July 8, 2022
Opinion Biden Middle East Biden’s focus in Saudi should be on the long-term Mid-term election success will tempt the American president to go for quick wins, but he must enter into talks with an eye on the global demand for energy July 8, 2022
Analysis Biden Middle East US-Saudi trade relationship in rude health The US-Saudi trade relationship rebounded from the pandemic lows of 2020 to posting record high exchanges of non-oil and non-defence goods last year as vehicles and vaccines boosted American imports into the kingdom. According to data from the US-Saudi Business Council, total trade volume amounted to SR92.5 billion ($24.7 billion) during 2021, rising 22 percent […] July 8, 2022
Analysis Biden Middle East Biden’s Saudi visit is a test of pragmatism over populism Ever since the White House announced in June that US President Joe Biden would be embarking on a trip to the Middle East – the first of his presidency – the possible motives behind it have been the subject of keen debate. Slated to take place from July 13-16 the trip has also been the […] July 8, 2022
Analysis People & Lifestyle Security is what MbS wants most of all from Washington As the architect of Saudi Vision 2030, Crown Prince Mohammed bin Salman quickly won plaudits the world over as a great moderniser and the face of reform in the kingdom. But the killing of Washington Post columnist Jamal Khashoggi in 2018 complicated matters. Shunned by many leaders – both political and business – MbS has […] July 8, 2022
