The United States is anticipated to remove its embargo on the transfer of offensive weaponry to Saudi Arabia, possibly in the upcoming weeks. According to a person familiar with the situation, Washington had already told Saudi Arabia that it was ready to withdraw the restriction.

US set to lift 2021 ban on offensive weapons sales to Saudi Arabia

Saudi Arabia is preparing to launch a major share sale in its state-owned energy giant, Aramco, potentially raising around $10 billion, Reuters reported citing sources familiar with the matter. <o:p></o:p>

This move, anticipated to happen as soon as June, could mark one of the region's largest stock deals in recent years.<o:p></o:p>

The proposed share sale will involve a fully marketed offering on the Riyadh stock exchange, rather than a rapid sale over a few days. <o:p></o:p>

Sources indicated that the final details of the sale are still being finalised and could change.<o:p></o:p>

When approached for comment, an Aramco spokesperson stated, "Decisions about share sales are matters for our shareholders and are not something we are able to comment on." <o:p></o:p>

The Saudi government's communication office did not immediately respond to requests for comments.<o:p></o:p>

Major international banks, including Citigroup, Goldman Sachs, and HSBC, had previously been selected to manage the sale, underlining the global financial community's involvement in this transaction.<o:p></o:p>

This share sale aligns with Saudi Arabia's ambitious Vision 2030 initiative, which aims to diversify the nation's economy and reduce its dependence on oil revenue. <o:p></o:p>

The Saudi government, holding a dominant 90 per cent stake in Aramco, relies heavily on the company's financial contributions as it crosses this economic transformation.<o:p></o:p>

Despite reporting lower earnings in the first quarter due to reduced oil prices and sales volumes, Aramco remains a crucial financial asset for the kingdom. <o:p></o:p>

The company recently announced plans to distribute $31 billion in dividends, indicating its continued profitability and importance to Saudi Arabia's fiscal health.<o:p></o:p>

Since its record-breaking initial public offering in 2019, where Aramco's shares debuted at 32 riyals, the stock has experienced fluctuations, reaching a peak of 38.64 riyals last year. <o:p></o:p>

As of the latest trading session, Aramco shares closed at 29.95 riyals.<o:p></o:p>

This planned share sale represents not only a significant financial manoeuvre but also a step towards achieving the broader objectives of Vision 2030, positioning Saudi Arabia for a more diversified and sustainable economic future.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Saudi Arabia is preparing to launch a major share sale in its state-owned energy giant, Aramco, potentially raising around $10 billion, Reuters reported citing sources familiar with the matter.

Saudi Arabia is preparing to launch a major share sale in its state-owned energy giant, Aramco, potentially raising around $10 billion, Reuters reported citing sources familiar with the matter. This move, anticipated to happen as soon as June, could mark one of the region's largest stock deals in recent years. The proposed share sale will involve a fully marketed offering on the Riyadh stock exchange, rather than a rapid sale over a few days. Sources indicated that the final details of the sale are still being finalised and could change. When approached for comment, an Aramco spokesperson stated, "Decisions about share sales are matters for our shareholders and are not something we are able to comment on." The Saudi government's communication office did not immediately respond to requests for comments. Major international banks, including Citigroup, Goldman Sachs, and HSBC, had previously been selected to manage the sale, underlining the global financial community's involvement in this transaction. This share sale aligns with Saudi Arabia's ambitious Vision 2030 initiative, which aims to diversify the nation's economy and reduce its dependence on oil revenue. The Saudi government, holding a dominant 90 per cent stake in Aramco, relies heavily on the company's financial contributions as it crosses this economic transformation. Despite reporting lower earnings in the first quarter due to reduced oil prices and sales volumes, Aramco remains a crucial financial asset for the kingdom. The company recently announced plans to distribute $31 billion in dividends, indicating its continued profitability and importance to Saudi Arabia's fiscal health. Since its record-breaking initial public offering in 2019, where Aramco's shares debuted at 32 riyals, the stock has experienced fluctuations, reaching a peak of 38.64 riyals last year. As of the latest trading session, Aramco shares closed at 29.95 riyals. This planned share sale represents not only a significant financial manoeuvre but also a step towards achieving the broader objectives of Vision 2030, positioning Saudi Arabia for a more diversified and sustainable economic future. (With inputs from Reuters)

Saudi Arabia eyes multi-billion-dollar Aramco share sale in June

The United States is anticipated to remove its embargo on the transfer of offensive weaponry to Saudi Arabia, possibly in the upcoming weeks. According to a person familiar with the situation, Washington has already told Saudi Arabia that it was ready to withdraw the restriction.

Biden to reverse ban on sale of offensive weapon to Saudi Arabia

Biden administration to lift arms embargo on Saudi Arabia, says Report

Energy giant Aramco, the world's largest oil producer by volume, is reportedly planning a multi-billion dollar share sale as early as June. This offering could raise up to $10 billion and become one of the Saudi's biggest stock deals.

Aramco sale to fuel Saudi diversification

Relations between Saudi Arabia and the US&nbsp;are expected&nbsp;to improve as the latter is mulling lifting the ban on selling offensive weapons to the kingdom state in coming weeks, Financial Times has reported&nbsp;citing&nbsp;US officials. US President Joe Biden had introduced these restrictions three years ago&nbsp;shortly&nbsp;after entering the White House, in line with his long-held vow to make Saudi Arabia a&nbsp;'pariah'&nbsp;state. Biden had promised to punish Saudi Arabia and its de-facto ruler&nbsp;Crown&nbsp;Prince Mohammed bin Salman&nbsp;for&nbsp;the alleged use of US-made weapons in attacks against Yemen civilians.

Saudi Arabia had entered the Yemen conflict nine years ago in a bid to oust the Iran-backed Houthi group but largely remained unsuccessful. In 2022, the UN brokered a peace deal there&nbsp;and&nbsp;Riyadh has largely refrained from involving itself in the conflict since then.

Also read:&nbsp;<a data-ved="2ahUKEwiaxbbAuquGAxUn4TgGHezgAH4QxfQBKAB6BAgOEAE" href="https://www.wionews.com/business-economy/goldman-sachs-receives-license-to-establish-regional-headquarters-in-riyadh-724929" jsname="YKoRaf" ping="/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.wionews.com/business-economy/goldman-sachs-receives-license-to-establish-regional-headquarters-in-riyadh-724929&amp;ved=2ahUKEwiaxbbAuquGAxUn4TgGHezgAH4QxfQBKAB6BAgOEAE">Goldman Sachs receives license to establish regional headquarters in Riyadh</a>

According to the Financial Times, the US has already conveyed its intention to lift the ban on Saudi Arabia, one of the&nbsp;country's&nbsp;largest&nbsp;arms export destinations and a traditional ally in West Asia.

<h2>More bilateral deals&nbsp;coming</h2>

According to US officials, scores of bilateral deals&nbsp;are expected&nbsp;to&nbsp;be finalised&nbsp;in the coming weeks, including a defence pact and US cooperation on the&nbsp;kingdom’s&nbsp;nascent civilian nuclear programme.

Also read:&nbsp;<a data-ved="2ahUKEwiaxbbAuquGAxUn4TgGHezgAH4QxfQBKAB6BAgQEAE" href="https://www.wionews.com/business-economy/saudi-arabias-national-airline-orders-over-100-new-airbus-jets-723779" jsname="YKoRaf" ping="/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.wionews.com/business-economy/saudi-arabias-national-airline-orders-over-100-new-airbus-jets-723779&amp;ved=2ahUKEwiaxbbAuquGAxUn4TgGHezgAH4QxfQBKAB6BAgQEAE">Saudi Arabia`s national airline orders over 100 new Airbus jets</a>

The US-Saudi deals might also pave the way&nbsp;for the renewal of&nbsp;Saudi-Israel normalisation talks. However, a US official&nbsp;made clear&nbsp;to the Financial Times that the two aspects were not interlinked.

<h2>Yemen peace talks stalled</h2>

Yemen talks stalked after Iran-backed Hamas launched terror attacks in Israel on October 7. The Houthis have also supported&nbsp;Hamas'&nbsp;campaign against Israel over the past months by disrupting flows through one of the&nbsp;world’s&nbsp;key&nbsp;maritime trade routes in the Red Sea and the Arabian Sea.

However, Saudi Arabia has continued engaging with a UN-mediated Yemeni peace process. Riyadh even refrained from joining a US-led maritime task force against&nbsp;Houthis,&nbsp;in a bid to send a clear message to the Iranian proxy that it&nbsp;didn’t&nbsp;want to irk them.

(With inputs from agencies)

Relations between Saudi Arabia and the US are expected to improve as the latter is mulling lifting the ban on selling offensive weapons to the kingdom state in coming weeks, Financial Times has reported citing US officials.

Relations between Saudi Arabia and the US are expected to improve as the latter is mulling lifting the ban on selling offensive weapons to the kingdom state in coming weeks, Financial Times has reported citing US officials. US President Joe Biden had introduced these restrictions three years ago shortly after entering the White House, in line with his long-held vow to make Saudi Arabia a 'pariah' state. Biden had promised to punish Saudi Arabia and its de-facto ruler Crown Prince Mohammed bin Salman for the alleged use of US-made weapons in attacks against Yemen civilians. Saudi Arabia had entered the Yemen conflict nine years ago in a bid to oust the Iran-backed Houthi group but largely remained unsuccessful. In 2022, the UN brokered a peace deal there and Riyadh has largely refrained from involving itself in the conflict since then. Also read: Goldman Sachs receives license to establish regional headquarters in Riyadh According to the Financial Times, the US has already conveyed its intention to lift the ban on Saudi Arabia, one of the country's largest arms export destinations and a traditional ally in West Asia. More bilateral deals coming According to US officials, scores of bilateral deals are expected to be finalised in the coming weeks, including a defence pact and US cooperation on the kingdom’s nascent civilian nuclear programme. Also read: Saudi Arabia`s national airline orders over 100 new Airbus jets The US-Saudi deals might also pave the way for the renewal of Saudi-Israel normalisation talks. However, a US official made clear to the Financial Times that the two aspects were not interlinked. Yemen peace talks stalled Yemen talks stalked after Iran-backed Hamas launched terror attacks in Israel on October 7. The Houthis have also supported Hamas' campaign against Israel over the past months by disrupting flows through one of the world’s key maritime trade routes in the Red Sea and the Arabian Sea. However, Saudi Arabia has continued engaging with a UN-mediated Yemeni peace process. Riyadh even refrained from joining a US-led maritime task force against Houthis, in a bid to send a clear message to the Iranian proxy that it didn’t want to irk them. (With inputs from agencies)

In a major U-turn, Biden administration to lift arms embargo on Saudi Arabia: Report

As you hear in the news, West Asia perhaps one of the most volatile regions in the world right now. However, there is one such Arab nation that is focused on being the most modern country in the region. From a flying taxi, to hosting big AI and fashion events, Riyadh is putting its best foot forward, take a look.

Saudi's historic AI, fashion events

Saudi Arabia's national airline, Saudia Group, just made a big move by ordering over 100 new Airbus jets, showing the kingdom's big plans to grow its tourism.

The order, revealed on Monday, includes 105 planes from Airbus’s A320neo family, consisting of 12 A320neos and 93 A321neos. This purchase brings Saudia Group’s total order to 144 A320neo family planes.

Saudia Group, which includes both Saudia airline and its budget carrier Flyadeal, aims to increase flights and seating capacity across&nbsp;over 100&nbsp;destinations.

This expansion ties in with Saudi Arabia's goal to attract over 150 million tourists by 2030.

In Airbus's latest annual earnings report in February, the company announced strong performance in its commercial aircraft business and set a target of 800 commercial aircraft deliveries for the year, which is 67 more than in 2023.

This growth highlights Airbus's strong position in the market, especially compared to its US rival, Boeing.

Boeing, which was starting to recover from two deadly crashes of its Max jets in 2018 and 2019, faced another setback on January 5 when a door plug blew out of an Alaska Airlines 737 Max 9.

This incident has further affected the company’s recovery efforts.

Airbus has seen great success with its A321neo, a single-aisle aircraft seating 180 to 230 passengers.

The "neo" designation refers to the "new engine option," showing the use of highly fuel-efficient engines that help airlines cut costs.

In response, Boeing introduced the Max, a 737 model with new, efficient engines, but faced numerous technical issues.

Despite Boeing’s ongoing challenges, Airbus is not expected to significantly widen its lead in the duopoly due to already operating at maximum production capacity, with over 8,600 orders to fulfil.

(With inputs from AP News)

Saudi Arabia's national airline, Saudia Group, just made a big move by ordering over 100 new Airbus jets, showing the kingdom's big plans to grow its tourism. The order, revealed on Monday, includes 105 planes from Airbus’s A320neo family, consisting of 12 A320neos and 93 A321neos.

Saudi Arabia's national airline, Saudia Group, just made a big move by ordering over 100 new Airbus jets, showing the kingdom's big plans to grow its tourism. The order, revealed on Monday, includes 105 planes from Airbus’s A320neo family, consisting of 12 A320neos and 93 A321neos. This purchase brings Saudia Group’s total order to 144 A320neo family planes. Saudia Group, which includes both Saudia airline and its budget carrier Flyadeal, aims to increase flights and seating capacity across over 100 destinations. This expansion ties in with Saudi Arabia's goal to attract over 150 million tourists by 2030. In Airbus's latest annual earnings report in February, the company announced strong performance in its commercial aircraft business and set a target of 800 commercial aircraft deliveries for the year, which is 67 more than in 2023. This growth highlights Airbus's strong position in the market, especially compared to its US rival, Boeing. Boeing, which was starting to recover from two deadly crashes of its Max jets in 2018 and 2019, faced another setback on January 5 when a door plug blew out of an Alaska Airlines 737 Max 9. This incident has further affected the company’s recovery efforts. Airbus has seen great success with its A321neo, a single-aisle aircraft seating 180 to 230 passengers. The "neo" designation refers to the "new engine option," showing the use of highly fuel-efficient engines that help airlines cut costs. In response, Boeing introduced the Max, a 737 model with new, efficient engines, but faced numerous technical issues. Despite Boeing’s ongoing challenges, Airbus is not expected to significantly widen its lead in the duopoly due to already operating at maximum production capacity, with over 8,600 orders to fulfil. (With inputs from AP News)

Saudi Arabia's national airline orders over 100 new Airbus jets

The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign wealth fund (PIF), emulating a deal made by the men's tour (ATP) in February.

The WTA said in a statement that it shared with PIF an "ambition to grow women's professional tennis and inspire more women and girls around the world to take up the game."

"We look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game," said Marina Storti, CEO of WTA Ventures, in the joint statement.

PIF will become the "first-ever naming partner of the WTA Rankings".

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/nfl/news-jim-otto-long-time-raiders-center-and-hall-of-famer-dies-at-86-723666">Jim Otto, long-time Raiders center and Hall of Famer, dies at 86</a>

"Through our partnership with WTA, PIF will continue to be a catalyst for the growth of women's sport," said Mohamed Alsayyad of PIF in the statement. "This partnership aligns with our ambition to elevate the game and bring positive growth to the sport around the world."

The partnership between the WTA and PIF follows the recent announcement that the season-ending WTA Finals, featuring the eight top singles players and doubles pairings, will be held&nbsp; in Riyadh for the next three years, starting this year.

Much like its forays into golf and football, the Saudi tennis push has met some resistance, with legends Martina Navratilova and Chris Evert denouncing Riyadh's record on women's rights in an op-ed published by The Washington Post in January.

The article was headlined: "We did not help build women's tennis for it to be exploited by Saudi Arabia".

Conservative Saudi Arabia's bid to become a sports powerhouse is part of a larger attempt to soften its austere image.

That rebranding is central to the success of its Vision 2030 economic and social reform agenda, designed to prepare the world's biggest crude exporter for a prosperous post-oil future.

Last year, the kingdom hosted its first ATP Tour event with the Next Gen Finals.

It has also hosted exhibition matches pitting Novak Djokovic against Carlos Alcaraz and Aryna Sabalenka against Ons Jabeur.

In early January, Saudi Arabia appointed Rafael Nadal as ambassador of the Saudi Tennis Federation.

The country, which hosts a Formula 1 and MotoGP Grand Prix, as well as the Dakar rally-raid, has recruited a large number of top football players to its national league in recent years.

The Kingdom has also hosted a series of headline-grabbing boxing matches including the heavyweight unification bout between Oleksandr Usyk and Tyson Fury last Saturday.

The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign wealth fund (PIF), emulating a deal made by the men's tour (ATP) in February.

The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign wealth fund (PIF), emulating a deal made by the men's tour (ATP) in February. The WTA said in a statement that it shared with PIF an "ambition to grow women's professional tennis and inspire more women and girls around the world to take up the game." "We look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game," said Marina Storti, CEO of WTA Ventures, in the joint statement. PIF will become the "first-ever naming partner of the WTA Rankings". ALSO READ: Jim Otto, long-time Raiders center and Hall of Famer, dies at 86 "Through our partnership with WTA, PIF will continue to be a catalyst for the growth of women's sport," said Mohamed Alsayyad of PIF in the statement. "This partnership aligns with our ambition to elevate the game and bring positive growth to the sport around the world." The partnership between the WTA and PIF follows the recent announcement that the season-ending WTA Finals, featuring the eight top singles players and doubles pairings, will be held in Riyadh for the next three years, starting this year. Much like its forays into golf and football, the Saudi tennis push has met some resistance, with legends Martina Navratilova and Chris Evert denouncing Riyadh's record on women's rights in an op-ed published by The Washington Post in January. The article was headlined: "We did not help build women's tennis for it to be exploited by Saudi Arabia". Conservative Saudi Arabia's bid to become a sports powerhouse is part of a larger attempt to soften its austere image. That rebranding is central to the success of its Vision 2030 economic and social reform agenda, designed to prepare the world's biggest crude exporter for a prosperous post-oil future. Last year, the kingdom hosted its first ATP Tour event with the Next Gen Finals. It has also hosted exhibition matches pitting Novak Djokovic against Carlos Alcaraz and Aryna Sabalenka against Ons Jabeur. In early January, Saudi Arabia appointed Rafael Nadal as ambassador of the Saudi Tennis Federation. The country, which hosts a Formula 1 and MotoGP Grand Prix, as well as the Dakar rally-raid, has recruited a large number of top football players to its national league in recent years. The Kingdom has also hosted a series of headline-grabbing boxing matches including the heavyweight unification bout between Oleksandr Usyk and Tyson Fury last Saturday.

Women’s tennis signs multi-year partnership with Saudi PIF in historic move

Saudi Arabia’s flagship carrier, Saudia, has secured its largest order in history, purchasing 105 narrowbody jets from airbus. The new aircraft will start arriving in 2026, with half allocated to its low-cost subsidiary, flyadeal.

Saudia Arabia orders 105 Airbus jets, largest in 80-year history

Oil prices have seen an &nbsp;increase as the energy market faces heightened uncertainty due to recent political events in Iran and Saudi Arabia. <o:p></o:p>

This surge comes after Iran's President Ebrahim Raisi was involved in a helicopter crash and the Saudi Crown Prince postponed his trip to Japan, citing health concerns regarding King Salman.<o:p></o:p>

As of early Monday, Brent crude rose by 32 cents, reaching $84.30 per barrel, marking its highest level since May 10. <o:p></o:p>

Similarly, US West Texas Intermediate (WTI) crude experienced a minor increase, adding 5 cents to hit $80.11 per barrel, with an earlier peak at $80.23, the highest since May 1.<o:p></o:p>

Uncertainty in Iran and Saudi Arabia<o:p></o:p>

The Iranian government confirmed that President Ebrahim Raisi's helicopter crashed in mountainous terrain amid icy weather conditions on Sunday. <o:p></o:p>

Despite the efforts of search teams who located the wreckage, officials are pessimistic about the survival of Raisi and Foreign Minister Hossein Amirabdollahian.<o:p></o:p>

In Saudi Arabia, Crown Prince Mohammed bin Salman has delayed his visit to Japan, initially planned for Monday, due to health concerns regarding his father, King Salman. <o:p></o:p>

According to Japan's Chief Cabinet Secretary Yoshimasa Hayashi, King Salman, aged 88, is undergoing treatment for lung inflammation.<o:p></o:p>

Market reactions and analyst insights<o:p></o:p>

Analysts have noted that these developments add more uncertainty to an already volatile energy market. <o:p></o:p>

Tony Sycamore of IG Markets highlighted that the political instability in two significant oil-producing countries is influencing prices. <o:p></o:p>

He suggested that WTI prices might further rise towards $83.50, citing recent economic measures in China aimed at boosting the property market as additional factors driving the price increase.<o:p></o:p>

Warren Patterson, head of commodities strategy at ING, pointed out that the oil market has remained relatively stable despite the geopolitical turbulence. <o:p></o:p>

He attributed this stability to the ample spare capacity maintained by OPEC. <o:p></o:p>

Patterson underlined that the market might need clarity on the OPEC+ output policy, scheduled for a meeting on June 1, to see significant price movement.<o:p></o:p>

Responses and economic indicators<o:p></o:p>

In the US, the government capitalised on recent lower oil prices, purchasing 3.3 million barrels at $79.38 per barrel to replenish the Strategic Petroleum Reserve. <o:p></o:p>

This move follows a significant sale from the reserve in 2022. <o:p></o:p>

Additionally, signs of easing inflation in the US have strengthened expectations of interest rate cuts, potentially lowering the dollar's value and making oil more affordable for holders of other currencies.<o:p></o:p>

Energy analyst Saul Kavonic of MST Marquee remarked that despite the health concerns surrounding King Salman, continuity in Saudi Arabia's energy strategy is anticipated under Crown Prince Mohammed Bin Salman's leadership. <o:p></o:p>

The market appears to be adjusting to its ongoing influence in the energy sector.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Oil prices have seen an increase as the energy market faces heightened uncertainty due to recent political events in Iran and Saudi Arabia. This surge comes after Iran's President Ebrahim Raisi was involved in a helicopter crash and the Saudi Crown Prince postponed his trip to Japan, citing health concerns regarding King Salman.

Oil prices have seen an increase as the energy market faces heightened uncertainty due to recent political events in Iran and Saudi Arabia. This surge comes after Iran's President Ebrahim Raisi was involved in a helicopter crash and the Saudi Crown Prince postponed his trip to Japan, citing health concerns regarding King Salman. As of early Monday, Brent crude rose by 32 cents, reaching $84.30 per barrel, marking its highest level since May 10. Similarly, US West Texas Intermediate (WTI) crude experienced a minor increase, adding 5 cents to hit $80.11 per barrel, with an earlier peak at $80.23, the highest since May 1. Uncertainty in Iran and Saudi Arabia The Iranian government confirmed that President Ebrahim Raisi's helicopter crashed in mountainous terrain amid icy weather conditions on Sunday. Despite the efforts of search teams who located the wreckage, officials are pessimistic about the survival of Raisi and Foreign Minister Hossein Amirabdollahian. In Saudi Arabia, Crown Prince Mohammed bin Salman has delayed his visit to Japan, initially planned for Monday, due to health concerns regarding his father, King Salman. According to Japan's Chief Cabinet Secretary Yoshimasa Hayashi, King Salman, aged 88, is undergoing treatment for lung inflammation. Market reactions and analyst insights Analysts have noted that these developments add more uncertainty to an already volatile energy market. Tony Sycamore of IG Markets highlighted that the political instability in two significant oil-producing countries is influencing prices. He suggested that WTI prices might further rise towards $83.50, citing recent economic measures in China aimed at boosting the property market as additional factors driving the price increase. Warren Patterson, head of commodities strategy at ING, pointed out that the oil market has remained relatively stable despite the geopolitical turbulence. He attributed this stability to the ample spare capacity maintained by OPEC. Patterson underlined that the market might need clarity on the OPEC+ output policy, scheduled for a meeting on June 1, to see significant price movement. Responses and economic indicators In the US, the government capitalised on recent lower oil prices, purchasing 3.3 million barrels at $79.38 per barrel to replenish the Strategic Petroleum Reserve. This move follows a significant sale from the reserve in 2022. Additionally, signs of easing inflation in the US have strengthened expectations of interest rate cuts, potentially lowering the dollar's value and making oil more affordable for holders of other currencies. Energy analyst Saul Kavonic of MST Marquee remarked that despite the health concerns surrounding King Salman, continuity in Saudi Arabia's energy strategy is anticipated under Crown Prince Mohammed Bin Salman's leadership. The market appears to be adjusting to its ongoing influence in the energy sector. (With inputs from Reuters)

Oil prices surge amid political turmoil in Iran and Saudi Arabia

Saudi Arabia's Royal Court has disclosed that King Salman, aged 88, is currently undergoing treatment for a lung infection. This announcement follows an earlier report of the monarch experiencing a "high temperature" and joint pain, prompting medical tests at Al-Salam Palace in Jeddah. Watch in for more details!

Saudi King Salman diagnosed with 'lung inflammation'

Saudi Arabia: King Salman diagnosed with lung inflammation

Saudi Arabia's de facto ruler and United States President Joe Biden's top aide have reportedly held talks around a "semi-final" version of a deal that is expected to strengthen the security ties.

The meeting involved discussions between Crown Prince Mohammed bin Salman and Jake Sullivan, Biden's national security advisor, in the eastern Saudi city of Dhahran, the official Saudi Press Agency (SPA) reported on Sunday (May 19).

Sullivan arrived in Israel on Sunday for talks surrounding the ongoing war in Gaza.

"The semi-final version of the draft strategic agreements between the Kingdom and the United States of America, which are almost being finalised... were discussed," SPA said.

The meeting between the officials also involved talks around "what is being worked on between the two sides on the Palestinian issue to find a credible path towards a two-state solution", along with endeavours to put an end to the ongoing war in Gaza and streamline the distribution of humanitarian aid in the region. &nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/whitewashed-words-netanyahus-office-hits-back-at-gantzs-ultimatum-722944">Whitewashed words: Netanyahu's office hits back at Gantz's 'ultimatum'</a>

The Biden administration has actively chased the 'mega-deal' where Washington has agreed to give benefits to Saudi Arabia including a defence pact and assistance with a civilian nuclear programme with uranium enrichment capacity in exchange for providing first-ever recognition of Israel.

Earlier in the month of September, Prince Mohammed in an interview with the US network Fox News said that "every day we get closer" to a deal to normalise ties. This was before Hamas launched unprecedented attacks against Israel.

After the Palestinian militant group's Oct 7 assault, the US had accused Hamas of derailing the efforts to normalise ties between Saudi Arabia and Israel.

"It wouldn't be a surprise that part of the motivation may have been to disrupt efforts to bring Saudi Arabia and Israel together, along with other countries that may be interested in normalising relations with Israel," the US Secretary of State had said.

(With inputs from agencies)

Saudi Arabia's de facto ruler and United States President Joe Biden's top aide have reportedly held talks around a "semi-final" version of a deal that is expected to strengthen the security ties.

Saudi Arabia's de facto ruler and United States President Joe Biden's top aide have reportedly held talks around a "semi-final" version of a deal that is expected to strengthen the security ties. The meeting involved discussions between Crown Prince Mohammed bin Salman and Jake Sullivan, Biden's national security advisor, in the eastern Saudi city of Dhahran, the official Saudi Press Agency (SPA) reported on Sunday (May 19). Sullivan arrived in Israel on Sunday for talks surrounding the ongoing war in Gaza. "The semi-final version of the draft strategic agreements between the Kingdom and the United States of America, which are almost being finalised... were discussed," SPA said. The meeting between the officials also involved talks around "what is being worked on between the two sides on the Palestinian issue to find a credible path towards a two-state solution", along with endeavours to put an end to the ongoing war in Gaza and streamline the distribution of humanitarian aid in the region. Also read: Whitewashed words: Netanyahu's office hits back at Gantz's 'ultimatum' The Biden administration has actively chased the 'mega-deal' where Washington has agreed to give benefits to Saudi Arabia including a defence pact and assistance with a civilian nuclear programme with uranium enrichment capacity in exchange for providing first-ever recognition of Israel. Earlier in the month of September, Prince Mohammed in an interview with the US network Fox News said that "every day we get closer" to a deal to normalise ties. This was before Hamas launched unprecedented attacks against Israel. After the Palestinian militant group's Oct 7 assault, the US had accused Hamas of derailing the efforts to normalise ties between Saudi Arabia and Israel. "It wouldn't be a surprise that part of the motivation may have been to disrupt efforts to bring Saudi Arabia and Israel together, along with other countries that may be interested in normalising relations with Israel," the US Secretary of State had said. (With inputs from agencies)

Saudi crown prince and US national security adviser discuss ‘semi-final’ version of security deal

Saudi Arabia held its first fashion show featuring swimsuit models&nbsp;on Friday, an envelope-pushing step in a country where less than a decade ago women were required to wear body-covering abaya robes.&nbsp;

The poolside show featuring the work of Moroccan designer Yasmina Qanzal included mostly one-piece suits in shades of red, beige and blue. Most models had exposed shoulders and some had their midriffs partially visible.&nbsp;

"It's true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world," Qanzal told AFP.&nbsp;

"When we came here, we understood that a swimsuit fashion show in Saudi Arabia is a historic moment, because it is the first time to have such event," she said, adding it was "an honour" to be involved.

The show took place on the second day of the inaugural Red Sea Fashion Week at the St Regis Red Sea Resort, situated off Saudi Arabia's western coast.&nbsp;

The resort is part of Red Sea Global, one of the so-called giga-projects at the heart of Saudi Arabia's Vision 2030 social and economic reform programme overseen by Crown Prince Mohammed bin Salman.&nbsp;

Prince Mohammed, who became first in line to the throne in 2017, has initiated a series of dramatic social reforms in a bid to soften Saudi Arabia's austere image stemming from its historical championing of a purist form of Islam known as Wahhabism.&nbsp;

Those changes have included sidelining stick-wielding religious police who used to chase men out of malls to pray, re-introducing cinemas and organising mixed-gender music festivals.&nbsp;

They have coincided with ramped-up repression targeting dissent, including from conservative clerics who might protest such moves.&nbsp;

Shouq Mohammed, a Syrian fashion influencer who attended Friday's show, said it was not surprising given Saudi Arabia's attempt to open up to the world and grow its fashion and tourism sectors.&nbsp;

The fashion industry in 2022 accounted for $12.5 billion, or 1.4 per cent of national GDP, and employed 230,000 people, according to a report published last year by the official Saudi Fashion Commission.&nbsp;

"It's the first time to have a swimsuit fashion show in Saudi Arabia, but why not? Seriously why not?" Mohammed said.&nbsp;

"It's possible and we have it here."&nbsp;

Raphael Simacourbe, a French influencer who also attended on Friday, said there was nothing risque to his eyes but in the Saudi context it was a major achievement.&nbsp;

"That's very brave from them to do that today, so I am very happy to be part of it," he said.

Saudi Arabia held its first fashion show featuring swimsuit models on Friday, an envelope-pushing step in a country where less than a decade ago women were required to wear body-covering abaya robes.

Saudi Arabia held its first fashion show featuring swimsuit models on Friday, an envelope-pushing step in a country where less than a decade ago women were required to wear body-covering abaya robes. The poolside show featuring the work of Moroccan designer Yasmina Qanzal included mostly one-piece suits in shades of red, beige and blue. Most models had exposed shoulders and some had their midriffs partially visible. "It's true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world," Qanzal told AFP. "When we came here, we understood that a swimsuit fashion show in Saudi Arabia is a historic moment, because it is the first time to have such event," she said, adding it was "an honour" to be involved. The show took place on the second day of the inaugural Red Sea Fashion Week at the St Regis Red Sea Resort, situated off Saudi Arabia's western coast. The resort is part of Red Sea Global, one of the so-called giga-projects at the heart of Saudi Arabia's Vision 2030 social and economic reform programme overseen by Crown Prince Mohammed bin Salman. Prince Mohammed, who became first in line to the throne in 2017, has initiated a series of dramatic social reforms in a bid to soften Saudi Arabia's austere image stemming from its historical championing of a purist form of Islam known as Wahhabism. Those changes have included sidelining stick-wielding religious police who used to chase men out of malls to pray, re-introducing cinemas and organising mixed-gender music festivals. They have coincided with ramped-up repression targeting dissent, including from conservative clerics who might protest such moves. Shouq Mohammed, a Syrian fashion influencer who attended Friday's show, said it was not surprising given Saudi Arabia's attempt to open up to the world and grow its fashion and tourism sectors. The fashion industry in 2022 accounted for $12.5 billion, or 1.4 per cent of national GDP, and employed 230,000 people, according to a report published last year by the official Saudi Fashion Commission. "It's the first time to have a swimsuit fashion show in Saudi Arabia, but why not? Seriously why not?" Mohammed said. "It's possible and we have it here." Raphael Simacourbe, a French influencer who also attended on Friday, said there was nothing risque to his eyes but in the Saudi context it was a major achievement. "That's very brave from them to do that today, so I am very happy to be part of it," he said.

'Historic': Saudi stages first swimwear fashion show

Saudi Arabia held its first fashion show featuring swimsuit models on Friday, an envelope-pushing step in a country where less than a decade ago women were required to wear body-covering abaya robes. Watch in for more details!

Saudi Arabia hosts inaugural fashion show with swimsuit models

The first batch of Chinese Muslims arrived this week in Saudi Arabia's Medina for the upcoming Hajj, the Gulf News reported on Friday (May 17). Hajj this year will take place from June 14-19 (Note: These are the approximate dates based on the Islamic Lunar calendar).

The first batch of Chinese Muslims arrived this week in Saudi Arabia's Medina for the upcoming Hajj, the Gulf News reported on Friday (May 17). Hajj this year will take place from June 14-19 (Note: These are the approximate dates based on the Islamic Lunar calendar). Citing local media, the Gulf News report said that pilgrims from China landed at the Prince Mohammed bin Abdulaziz airport where their arrival procedures were handled smoothly. However, the number of pilgrims who arrived in Mecca is not yet known. Early groups of pilgrims arrive in Saudi The report further said that the early group of pilgrims (from several countries) started arriving in Saudi Arabia over the past few days ahead of Hajj. Meanwhile, the Saudi Directorate of Passports earlier said that it was harnessing all its resources to facilitate the entry of pilgrims (from around the world) to the country at different air, land, and sea points, using sophisticated equipment and well-qualified personnel. Saudi Arabia issues vaccine guidelines for Hajj Saudi Arabia's health ministry recently issued vaccine guidelines for Hajj. In a statement, the health ministry said on Wednesday, "The mandatory vaccinations are one dose of the COVID-19 vaccine given during 1445 AH, one dose of the influenza vaccine given during 1445 AH, and one dose of the meningitis vaccine given during the past five years, to ensure the health of domestic pilgrims and the other pilgrims who are performing Hajj this year." "The Ministry of Health pointed out that vaccinations for domestic pilgrims are available in primary health care centres, and those wishing to perform Hajj this year must book an appointment through Sehhaty application," the ministry added. "The Ministry attributed the completion of vaccinations before Hajj to the fact that the Hajj season brings together large crowds of people coming from all over the world performing the same rituals in one place, which may expose them to infection with many infectious diseases spread in some countries of the world," it further said. (With inputs from agencies)

First batch of Chinese Muslim pilgrims arrives in Medina for upcoming Hajj: Report

Saudi Arabia Prince Mohammed Bin Salman is likely to visit Pakistan in the second week of May. This will be the first visit by the Saudi Crown Prince to the country in five years.

Saudi Crown Prince MBS indefinitely postpones Pakistan visit

Saudi Arabia is developing a futuristic city- 'NEOM'. The nation is clearing all obstacles. One of the obstacles is residents on land. Saudi ‘Arabia has approved 'lethal force’ to clear residents from land for a futuristic city.

Saudi Arabian forces to 'kill' residents to clear land for its futuristic city Neom

Saudi Crown Prince likely to visit Pakistan in his third in-person meet between Pak PM & MBS

Saudi Arabia Prince Mohammed bin Salman is likely to visit in the second week of May. This will be the first visit by the Saudi Crown Prince to the country in five years.

Saudi Crown Prince may visit Pakistan in second week of May, Pak keen on getting investment

Saudi Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Mohammed Bin Salman Al Saud is likely to visit Pakistan in the second week of May, informed sources told WION.

This will be the first visit by the Saudi Crown Prince to the country in five years. The last time he was in Pakistan was in February 2019. He was due to visit Pakistan in 2022 as part of his visit to the region but at the 11th hour, the visit was called off.

The visit will see the third in-person meeting between Pakistan’s Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman in a period spanning five weeks.

Also watch |&nbsp;Saudi Arabia crown prince pushes for India-Pak talks

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It is pertinent to mention that the visit will be seen in light of the recent Saudi-Pak engagements which have seen an uptick since the new government in Pakistan took charge.

Sources said that the final dates of the visit of the Saudi Crown Prince are being worked out and that a definite travel date is likely to be communicated from the Saudi side to Pakistan in the coming week.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/saudi-arabia-to-invest-25-bn-in-pakistan-over-next-five-years-interim-pm-announces-632516">Saudi Arabia to invest $25 bn in Pakistan over next five years: Interim PM announces</a>

Pakistan and Saudi Arabia have longstanding fraternal relations rooted in religious and cultural affinity and the two have been committed to advancing the fraternal ties and mutually rewarding economic and investment relations.

Pakistan and Saudi Arabia engagements in recent weeks have been at their peak and&nbsp;started with the visit of Pakistan’s Prime Minister Shehbaz Sharif to the kingdom in March, followed by a high-level delegation from Saudi Arab being sent to Pakistan headed by the Saudi Foreign Minister in mid of April which was then followed by another visit by Pakistani Prime Minister to Saudi Arabia for the World Economic Forum.

Saudi Arabia also sent its high-level investment delegation to Pakistan to explore avenues of investment in the country. A Pakistani ministerial delegation comprising of Minister for Petroleum and Energy will also be heading to Saudi Arabia later this week.

The visit of the Saudi Crown Prince would focus on investments in Pakistan with Islamabad trying to materialise the understanding from the meeting in Makkah of attracting&nbsp;a Saudi investment in the country worth $5 billion.

Though both sides&nbsp;would emphasise that the visit is bilateral, there is no denying the fact that it comes amid tensions in West Asia, with Iran President Ebrahim Raisi being in Pakistan recently.

Sources said that Pakistani Prime Minister Shehbaz Sharif has decided to stay in the country and overlook the arrangements for the big visit himself and not travel abroad until the visit is over. Confirmation of sorts of this claim was corroborated when Pakistan’s prime minister dropped his plan of travelling to Gambia for the OIC Summit at the 11th hour despite earlier deciding in favour of it as it was confirmed by the Pakistani foreign office in its weekly briefing. Later, the Foreign Office said that the change in the prime minister's plan was due to "domestic considerations".

Saudi Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Mohammed Bin Salman Al Saud is likely to visit Pakistan in the second week of May, informed sources told WION.

Saudi Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Mohammed Bin Salman Al Saud is likely to visit Pakistan in the second week of May, informed sources told WION. This will be the first visit by the Saudi Crown Prince to the country in five years. The last time he was in Pakistan was in February 2019. He was due to visit Pakistan in 2022 as part of his visit to the region but at the 11th hour, the visit was called off. The visit will see the third in-person meeting between Pakistan’s Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman in a period spanning five weeks. Also watch | Saudi Arabia crown prince pushes for India-Pak talks × It is pertinent to mention that the visit will be seen in light of the recent Saudi-Pak engagements which have seen an uptick since the new government in Pakistan took charge. Sources said that the final dates of the visit of the Saudi Crown Prince are being worked out and that a definite travel date is likely to be communicated from the Saudi side to Pakistan in the coming week. Also read | Saudi Arabia to invest $25 bn in Pakistan over next five years: Interim PM announces Pakistan and Saudi Arabia have longstanding fraternal relations rooted in religious and cultural affinity and the two have been committed to advancing the fraternal ties and mutually rewarding economic and investment relations. Pakistan and Saudi Arabia engagements in recent weeks have been at their peak and started with the visit of Pakistan’s Prime Minister Shehbaz Sharif to the kingdom in March, followed by a high-level delegation from Saudi Arab being sent to Pakistan headed by the Saudi Foreign Minister in mid of April which was then followed by another visit by Pakistani Prime Minister to Saudi Arabia for the World Economic Forum. Saudi Arabia also sent its high-level investment delegation to Pakistan to explore avenues of investment in the country. A Pakistani ministerial delegation comprising of Minister for Petroleum and Energy will also be heading to Saudi Arabia later this week. The visit of the Saudi Crown Prince would focus on investments in Pakistan with Islamabad trying to materialise the understanding from the meeting in Makkah of attracting a Saudi investment in the country worth $5 billion. Though both sides would emphasise that the visit is bilateral, there is no denying the fact that it comes amid tensions in West Asia, with Iran President Ebrahim Raisi being in Pakistan recently. Sources said that Pakistani Prime Minister Shehbaz Sharif has decided to stay in the country and overlook the arrangements for the big visit himself and not travel abroad until the visit is over. Confirmation of sorts of this claim was corroborated when Pakistan’s prime minister dropped his plan of travelling to Gambia for the OIC Summit at the 11th hour despite earlier deciding in favour of it as it was confirmed by the Pakistani foreign office in its weekly briefing. Later, the Foreign Office said that the change in the prime minister's plan was due to "domestic considerations".

Exclusive: Saudi Crown Prince likely to visit Pakistan in second week of May

Saudi Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Mohammed Bin Salman Al Saud is likely to visit Pakistan in the second week of May, according to reports. This will be the first visit by the Saudi Crown Prince to the country in five years.

Saudi Crown Prince likely to visit Pakistan, focus on investment

Saudi Crown Prince likely to visit Pakistan in the second week of May

Saudi Crown Prince likely to visit Pakistan this month

Watch the top headlines of the hour: - Israeli strikes on Rafah kill at least 22 - Evacuating 100,000 from East Rafah - Xi Jinping arrives in France - Saudi Prince likely to visit Pakistan - Hezbollah fires rockets - Brazil flooding kills at least 28

IDF: Evacuating 100,000 from East Rafah, Hezbollah fires rockets

A historic defence pact that could reshape geopolitics around West Asia is in near completion. Saudi Arabia and the United States are set to be closing in on a landmark defense pact and nuclear artificial intelligence cooperation dubbed as Plan B.

Riyadh pushes for US defence pact

Israel and Saudi are at the 'cusp of a deal'

A batch of Saudi female conscripts recently attended a training course on combat of drugs and handling of weapons amid a robust empowerment of women in the kingdom. Watch in for more details!

Saudi Arabia: Female trainees clad in uniforms march in parade

Saudi Arabia and US look for landmark bilateral pact

A historic defence pact that could reshape geopolitics around West Asia is near completion. Saudi Arabia and the United States are set to be closing in on a landmark defense pact and nuclear artificial intelligence cooperation dubbed as Plan B.

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