Russia is making waves in the global oil market as it sells oil to India at nearly 80 dollars per barrel, a significant premium over western prices. This surge in prices is primarily driven by tight global oil markets and production cuts by key OPEC+ producers, including Russia and Saudi Arabia. As of mid-July, Urals crude has consistently traded above the western price cap of 60 dollars per barrel.

Russian oil sales surge in India

For the first time in 13 years, a Saudi delegation visited the occupied west bank. This included Riyadh’s first non-resident ambassador to occupied Palestinian territories Naif Al Sudairi. Regional watchers are calling the visit a big step in Israel, Saudi truce. How does this development impact the region's dynamics?

Official visits between Saudi, Israel highlight warming ties

A delegation from Saudi Arabia arrived in the occupied West Bank this morning amid talk that the Kingdom is on the verge of normalising relations with the apartheid state of Israel. According to the Palestinian Ministry of Foreign Affairs, the delegation was led by the non-resident envoy to the Palestinian territories, Nayef Al-Sudairi.

Landmark Saudi & Israel trips: Saudi sends first delegation visits West Bank in three decades

Saudi Arabia's aviation landscape is buzzing with activity as the nation's largest airline, Saudi Arabian Airlines Corp., commonly known as Saudia, and shareholder Tarabot Air Cargo Services Ltd., aim to raise up to 2.54 billion riyals ($678 million) through the initial public offering (IPO) of SAL Saudi Logistics Services Co., a prominent cargo firm. This development marks the revival of Saudi Arabia's listing market, signalling a renewed investor interest, according to a report by Bloomberg.

As per a statement released on Monday, it was revealed that Saudia and Tarabot are jointly offering 24 million shares, equivalent to a 30 per cent stake, at a price range of 98 to 106 riyals per share, valuing SAL at a potential 8.48 billion riyals.

The bookbuilding phase for institutional investors is set to continue until October 1, while retail investors will have an opportunity to place orders from October 11 to October 13. Presently, Saudia holds a 70 per cent ownership stake in SAL, while Tarabot holds the remaining 30 per cent.

The timing of SAL's IPO coincided with the establishment of Lumi Rental Co., a vehicle rental business, and the hugely profitable $1.2 billion IPO of ADES Holding Co., an oil driller supported by Saudi Arabia's sovereign wealth fund, which generated orders totalling $76.5 billion. This increase in activity in the Saudi Arabian listing market comes after a comparatively quiet first half of the year, which was partly caused by a downturn in the nation's stock market.

The recent rally in crude oil prices and a 10 per cent increase in the Tadawul Index from its March low have contributed to the renewed confidence in the Saudi Arabian listing market. Saudi Arabia's ambitious plans to become a global supply chain hub and develop one of the world's largest airports in Riyadh further fuel investor optimism.

SAL holds a dominant position in Saudi Arabia's cargo handling sector, boasting a market share of approximately 95 per cent. The company specialises in handling cargo, transit, and export shipments. In 2022, SAL reported revenue of 1.22 billion riyals ($325 million) and a net income of 362 million riyals. The company continued its strong performance in the first half of 2023, achieving a 15 per cent year-on-year revenue growth.

HSBC Holdings Plc's Saudi unit has been appointed as the sole financial advisor, bookrunner, global coordinator, lead manager, and underwriter for the IPO, underscoring the significance of this offering in Saudi Arabia's evolving economic landscape.

(With inputs from Bloomberg)

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<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Saudi Arabia's aviation landscape is buzzing with activity as the nation's largest airline, Saudi Arabian Airlines Corp., commonly known as Saudia, and shareholder Tarabot Air Cargo Services Ltd.

Saudi Arabia's aviation landscape is buzzing with activity as the nation's largest airline, Saudi Arabian Airlines Corp., commonly known as Saudia, and shareholder Tarabot Air Cargo Services Ltd., aim to raise up to 2.54 billion riyals ($678 million) through the initial public offering (IPO) of SAL Saudi Logistics Services Co., a prominent cargo firm. This development marks the revival of Saudi Arabia's listing market, signalling a renewed investor interest, according to a report by Bloomberg. As per a statement released on Monday, it was revealed that Saudia and Tarabot are jointly offering 24 million shares, equivalent to a 30 per cent stake, at a price range of 98 to 106 riyals per share, valuing SAL at a potential 8.48 billion riyals. The bookbuilding phase for institutional investors is set to continue until October 1, while retail investors will have an opportunity to place orders from October 11 to October 13. Presently, Saudia holds a 70 per cent ownership stake in SAL, while Tarabot holds the remaining 30 per cent. The timing of SAL's IPO coincided with the establishment of Lumi Rental Co., a vehicle rental business, and the hugely profitable $1.2 billion IPO of ADES Holding Co., an oil driller supported by Saudi Arabia's sovereign wealth fund, which generated orders totalling $76.5 billion. This increase in activity in the Saudi Arabian listing market comes after a comparatively quiet first half of the year, which was partly caused by a downturn in the nation's stock market. The recent rally in crude oil prices and a 10 per cent increase in the Tadawul Index from its March low have contributed to the renewed confidence in the Saudi Arabian listing market. Saudi Arabia's ambitious plans to become a global supply chain hub and develop one of the world's largest airports in Riyadh further fuel investor optimism. SAL holds a dominant position in Saudi Arabia's cargo handling sector, boasting a market share of approximately 95 per cent. The company specialises in handling cargo, transit, and export shipments. In 2022, SAL reported revenue of 1.22 billion riyals ($325 million) and a net income of 362 million riyals. The company continued its strong performance in the first half of 2023, achieving a 15 per cent year-on-year revenue growth. HSBC Holdings Plc's Saudi unit has been appointed as the sole financial advisor, bookrunner, global coordinator, lead manager, and underwriter for the IPO, underscoring the significance of this offering in Saudi Arabia's evolving economic landscape. (With inputs from Bloomberg) WATCH WION LIVE HERE

Saudi Arabia's SAL Cargo Firm targets $678 million in landmark IPO with Saudia Airlines

All shares of SAL Saudi logistics services' IPO in Riyadh were taken up within hours of books opening on the sale, in an indication of continued investor appetite for listings in the kingdom.

Saudi cargo powerhouse SAL's IPO generates $678 million surge

One of the world’s greatest football players, Cristiano Ronaldo, could make his WWE debut soon. As per the latest reports, the most followed footballer on social media, Ronaldo, the dashing Al-Nassr forward, could make an appearance at WWE’s next away big event – the Crown Jewel in Saudi Arabia, scheduled for November 4, as a&nbsp;'superstar guest'.

With WWE, for a few years now, staging an event in Saudi, the organisers are keen on cashing in on this chance and making this glittery event grander.

The report in AS suggests WWE’s latest merger with the UFC (owned by Endeavor) to create TKO is said to be behind this out-of-the-box move to bring the former Manchester United star to be part of the Saudi Arabia showdown. Endeavour is believed to have proposed this idea to boost Crown Jewel’s craze and revenue. Besides, a handsome fee is also kept aside to fulfil this dream collab.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/asian-games-2023-opening-ceremony-gets-underway-in-hangzhou-as-harmanpreet-lovlina-lead-as-flagbearers-638949">Asian Games 2023: Glittering show marks inauguration of continental spectacle in Hangzhou</a>

If Ronaldo agrees to join hands with WWE for a special guest appearance at the Crown Jewel Show, he would not be the first one from this section of the sporting world to debut inside a WWE area. Earlier, former Norwich player Grant Holt, German goalkeeper Tim Wiese and ex-Wycombe Wanderers forward Adebayo Akinfenwa have also made their presence felt at WWE shows.&nbsp;

Cristiano Ronaldo’s former Red Devils teammate and England international, Wayne Rooney, had also appeared on a live WWE show in 2015. During a televised episode of Monday Night RAW in Manchester, England, Rooney was spotted sitting in the front row and had a heated confrontation with former in-ring superstar Wade Barrett. As part of the storyline, Rooney even slapped Barrett in the face, much to a loud cheer from the crowd.

Meanwhile, the former WWE champion and one of Hollywood’s most-followed celebrities, Dwayne Johnson, widely known as ‘The Rock’, also returned to SmackDown Live recently. His entrance got the crowd on its feet, and as per WWE social handles, the views of ‘The Rock’s’ return crossed over 103 million across all platforms and are likely to increase with each passing day.

<h2>Ronaldo’s stay in the Saudi Pro League</h2>

Following the Qatar World Cup in 2022, Ronaldo announced his decision to join the Saudi Pro League side, Al-Nassr, for a world-record fee in the January transfer window.&nbsp;

Such was his impact that several star players, plying their trades in top European clubs, decided to switch bases and join the Saudi Pro League, with some world-class names being Neymar, Sadio Mane, and Riyad Mahrez, among others.

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One of the world’s greatest football players, Cristiano Ronaldo, could make his WWE debut soon. As per the latest reports, the most followed footballer on social media, Ronaldo, the dashing Al-Nassr forward, could make an appearance at WWE’s next away big event – the Crown Jewel in Saudi Arabia, scheduled for November 4, as a 'superstar guest'.

One of the world’s greatest football players, Cristiano Ronaldo, could make his WWE debut soon. As per the latest reports, the most followed footballer on social media, Ronaldo, the dashing Al-Nassr forward, could make an appearance at WWE’s next away big event – the Crown Jewel in Saudi Arabia, scheduled for November 4, as a 'superstar guest'. With WWE, for a few years now, staging an event in Saudi, the organisers are keen on cashing in on this chance and making this glittery event grander. The report in AS suggests WWE’s latest merger with the UFC (owned by Endeavor) to create TKO is said to be behind this out-of-the-box move to bring the former Manchester United star to be part of the Saudi Arabia showdown. Endeavour is believed to have proposed this idea to boost Crown Jewel’s craze and revenue. Besides, a handsome fee is also kept aside to fulfil this dream collab. ALSO READ: Asian Games 2023: Glittering show marks inauguration of continental spectacle in Hangzhou If Ronaldo agrees to join hands with WWE for a special guest appearance at the Crown Jewel Show, he would not be the first one from this section of the sporting world to debut inside a WWE area. Earlier, former Norwich player Grant Holt, German goalkeeper Tim Wiese and ex-Wycombe Wanderers forward Adebayo Akinfenwa have also made their presence felt at WWE shows. Cristiano Ronaldo’s former Red Devils teammate and England international, Wayne Rooney, had also appeared on a live WWE show in 2015. During a televised episode of Monday Night RAW in Manchester, England, Rooney was spotted sitting in the front row and had a heated confrontation with former in-ring superstar Wade Barrett. As part of the storyline, Rooney even slapped Barrett in the face, much to a loud cheer from the crowd. Meanwhile, the former WWE champion and one of Hollywood’s most-followed celebrities, Dwayne Johnson, widely known as ‘The Rock’, also returned to SmackDown Live recently. His entrance got the crowd on its feet, and as per WWE social handles, the views of ‘The Rock’s’ return crossed over 103 million across all platforms and are likely to increase with each passing day. Ronaldo’s stay in the Saudi Pro League Following the Qatar World Cup in 2022, Ronaldo announced his decision to join the Saudi Pro League side, Al-Nassr, for a world-record fee in the January transfer window. Such was his impact that several star players, plying their trades in top European clubs, decided to switch bases and join the Saudi Pro League, with some world-class names being Neymar, Sadio Mane, and Riyad Mahrez, among others. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Cristiano Ronaldo could make his WWE debut ‘in some capacity’ at Crown Jewel show – Reports

Western media have time and again accused him of "sports washing". Now he himself has owned up to it. In fact, he has said that he plans to do it even more. Molly Gambhir tells you more.

Gravitas: 'Will continue sports washing', says Saudi Arabia crown prince

Israeli Prime Minister Benjamin Netanyahu, on Friday (September 22), told the United Nations that his country was on the "cusp" of normalising ties with Saudi Arabia.

He further said that Palestinians should not get to "veto" the move.

While addressing the General Assembly in New York, Netanyahu said that the agreements which were made in the year 2020, to forge formal ties with three other Arab states had already "heralded the dawn of a new age of peace."

"But I believe that we are at the cusp of an even more dramatic breakthrough -- a historic peace between Israel and Saudi Arabia."

"Such a peace will go a long way to ending the Arab-Israeli conflict. It will encourage other Arab states to normalise their relations with Israel," he said.

Netanyahu strongly rebuffed the assertion by Palestinian leader Mahmud Abbas, during his UN speech on Thursday, that peace could not be established between the Middle East and Israel without a Palestinian state.

Netanyahu said that Palestinians should not be given a veto over new peace treaties with Arab states.

"We must not give the Palestinians a veto over new peace treaties with Arab states," Netanyahu said.

"The Palestinians could greatly benefit from a broader peace. They should be part of that process. But they should not have a veto over the process."

Also read:&nbsp;<a href="https://www.wionews.com/world/thousands-take-to-streets-in-canada-to-stage-demonstration-over-gender-sex-education-curriculum-in-schools-638631">Thousands take to streets in Canada to stage protest against gender, sex education curriculum in schools</a>

United States President Joe Biden's administration has been leading talks between the two countries. Recently, Saudi Arabia's Crown Prince Mohammed bin Salman said that the two sides were getting closer.

<h2>Biden and Netanyahu pledge to normalise Israeli-Saudi ties</h2>

On Wednesday (September 20), United States President Joe Biden and Israeli Prime Minister Benjamin Netanyahu vowed to together make efforts towards forging a historic peace deal between Israel and Saudi Arabia.

“I think that under your leadership, Mr President, we can forge a historic peace between Israel and Saudi Arabia,” Netanyahu said, adding,&nbsp;“Such a peace would go a long way first to advance the end of the Arab-Israeli conflict, achieve reconciliation between the Islamic world and the Jewish state and advance a genuine peace between Israel and the Palestinians.”

Netanyahu said they could work together to make history.

“Together,” Biden reiterated, hinting at his commitment towards normalising the strained diplomatic ties, which he said would have been unthinkable years ago.

<h2>Netanyahu issues 'nuclear' threat to Iran, then retracts</h2>

Netanyahu also called for Iran to face a "credible" threat of force after his office retracted his 'nuclear threat against Tehran' statement.

While addressing the UN General Assembly, Netanyahu said, "Above all -- above all -- Iran must face a credible nuclear threat."

"As long as I'm prime minister of Israel, I will do everything in my power to prevent Iran from getting nuclear weapons," Netanyahu said.

His office later released a statement saying that the Israeli PM had 'misread' his speech. It said that he meant "credible military threat" instead of "credible nuclear threat."

"It was misread as a credible nuclear threat. The prime minister stands by the original text of the speech," the prime minister's office said.

(With inputs from agencies)

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Israeli Prime Minister Benjamin Netanyahu, on Friday (September 22), told the United Nations that his country was on the "cusp" of normalising ties with Saudi Arabia.

Israeli Prime Minister Benjamin Netanyahu, on Friday (September 22), told the United Nations that his country was on the "cusp" of normalising ties with Saudi Arabia. He further said that Palestinians should not get to "veto" the move. While addressing the General Assembly in New York, Netanyahu said that the agreements which were made in the year 2020, to forge formal ties with three other Arab states had already "heralded the dawn of a new age of peace." "But I believe that we are at the cusp of an even more dramatic breakthrough -- a historic peace between Israel and Saudi Arabia." "Such a peace will go a long way to ending the Arab-Israeli conflict. It will encourage other Arab states to normalise their relations with Israel," he said. Netanyahu strongly rebuffed the assertion by Palestinian leader Mahmud Abbas, during his UN speech on Thursday, that peace could not be established between the Middle East and Israel without a Palestinian state. Netanyahu said that Palestinians should not be given a veto over new peace treaties with Arab states. "We must not give the Palestinians a veto over new peace treaties with Arab states," Netanyahu said. "The Palestinians could greatly benefit from a broader peace. They should be part of that process. But they should not have a veto over the process." Also read: Thousands take to streets in Canada to stage protest against gender, sex education curriculum in schools United States President Joe Biden's administration has been leading talks between the two countries. Recently, Saudi Arabia's Crown Prince Mohammed bin Salman said that the two sides were getting closer. Biden and Netanyahu pledge to normalise Israeli-Saudi ties On Wednesday (September 20), United States President Joe Biden and Israeli Prime Minister Benjamin Netanyahu vowed to together make efforts towards forging a historic peace deal between Israel and Saudi Arabia. “I think that under your leadership, Mr President, we can forge a historic peace between Israel and Saudi Arabia,” Netanyahu said, adding, “Such a peace would go a long way first to advance the end of the Arab-Israeli conflict, achieve reconciliation between the Islamic world and the Jewish state and advance a genuine peace between Israel and the Palestinians.” Netanyahu said they could work together to make history. “Together,” Biden reiterated, hinting at his commitment towards normalising the strained diplomatic ties, which he said would have been unthinkable years ago. Netanyahu issues 'nuclear' threat to Iran, then retracts Netanyahu also called for Iran to face a "credible" threat of force after his office retracted his 'nuclear threat against Tehran' statement. While addressing the UN General Assembly, Netanyahu said, "Above all -- above all -- Iran must face a credible nuclear threat." "As long as I'm prime minister of Israel, I will do everything in my power to prevent Iran from getting nuclear weapons," Netanyahu said. His office later released a statement saying that the Israeli PM had 'misread' his speech. It said that he meant "credible military threat" instead of "credible nuclear threat." "It was misread as a credible nuclear threat. The prime minister stands by the original text of the speech," the prime minister's office said. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netanyahu issues 'nuclear' threat to Iran, then retracts; says Israel on 'cusp' of normalising ties with Saudi

United States President Joe Biden and Israeli Prime Minister Benjamin Netanyahu, on Wednesday (September 20), vowed to together make efforts towards forging a historic peace deal between Israel and Saudi Arabia.

“I think that under your leadership, Mr. President, we can forge a historic peace between Israel and Saudi Arabia,” Netanyahu said, adding that “Such a peace would go a long way first to advance the end of the Arab-Israeli conflict, achieve reconciliation between the Islamic world and the Jewish state and advance a genuine peace between Israel and the Palestinians.”

Netanyahu said they could work together to make history.

Meeting for the very first time since the Israeli leader returned to power in December last year, both the leaders showed a desire to normalise the relations between the countries. However, Biden also emphasised that he was determined to discuss their differences.

“Together,” Biden reiterated, hinting at his commitment towards normalising the strained diplomatic ties, which he said would have been unthinkable years ago.

The two leaders held talks on the sidelines of the UN General Assembly in New York after Biden withheld an invitation to the White House.

Netanyahu further appreciated Biden for his commitment towards preventing Iran from achieving nuclear weapons capability.

Also read:&nbsp;<a href="https://www.wionews.com/world/china-and-russia-to-bolster-business-ties-as-putin-accepts-xis-invitation-for-october-visit-637999">China, Russia to continue business ties as Putin accepts invitation for visit</a>

''I appreciate, Mr. President, your continuous commitment to prevent Iran from achieving nuclear weapons capability. I think that's critical. And that shared goal of ours can be best achieved by a credible military threat, crippling sanctions and supporting the brave men and women of Iran who despise that regime and who are real partners for a better future.''

<h2>Biden invites Netanyahu to visit Washington&nbsp;</h2>

Biden also formally invited Netanyahu to visit Washington by year's end during their talks, the White House said in a statement.

"I hope we will see each other in Washington by the end of the year," he said.

He also voiced his concerns about "any fundamental changes to Israel's democratic system, absent the broadest possible consensus," his office said, amid criticism of the hard-right Israeli government's controversial judicial reforms. 
&nbsp; 
At the start of the meeting, Biden told the reporters, "Today, we're going to discuss some of the hard issues, that is, upholding democratic values that lie at the heart of our partnership".

(With inputs from agencies) 
&nbsp;

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United States President Joe Biden and Israeli Prime Minister Benjamin Netanyahu, on Wednesday (September 20), vowed to together make efforts towards forging a historic peace deal between Israel and Saudi Arabia.

United States President Joe Biden and Israeli Prime Minister Benjamin Netanyahu, on Wednesday (September 20), vowed to together make efforts towards forging a historic peace deal between Israel and Saudi Arabia. “I think that under your leadership, Mr. President, we can forge a historic peace between Israel and Saudi Arabia,” Netanyahu said, adding that “Such a peace would go a long way first to advance the end of the Arab-Israeli conflict, achieve reconciliation between the Islamic world and the Jewish state and advance a genuine peace between Israel and the Palestinians.” Netanyahu said they could work together to make history. Meeting for the very first time since the Israeli leader returned to power in December last year, both the leaders showed a desire to normalise the relations between the countries. However, Biden also emphasised that he was determined to discuss their differences. “Together,” Biden reiterated, hinting at his commitment towards normalising the strained diplomatic ties, which he said would have been unthinkable years ago. The two leaders held talks on the sidelines of the UN General Assembly in New York after Biden withheld an invitation to the White House. Netanyahu further appreciated Biden for his commitment towards preventing Iran from achieving nuclear weapons capability. Also read: China, Russia to continue business ties as Putin accepts invitation for visit ''I appreciate, Mr. President, your continuous commitment to prevent Iran from achieving nuclear weapons capability. I think that's critical. And that shared goal of ours can be best achieved by a credible military threat, crippling sanctions and supporting the brave men and women of Iran who despise that regime and who are real partners for a better future.'' Biden invites Netanyahu to visit Washington Biden also formally invited Netanyahu to visit Washington by year's end during their talks, the White House said in a statement. "I hope we will see each other in Washington by the end of the year," he said. He also voiced his concerns about "any fundamental changes to Israel's democratic system, absent the broadest possible consensus," his office said, amid criticism of the hard-right Israeli government's controversial judicial reforms. At the start of the meeting, Biden told the reporters, "Today, we're going to discuss some of the hard issues, that is, upholding democratic values that lie at the heart of our partnership". (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Biden and Netanyahu hold talks, pledge to normalise Israeli-Saudi ties

Israel Prime Minister Benjamin Netanyahu is all set to meet US President Joe Biden on the sidelines of UN meet in New York. The leaders are expected to discuss prospects to long-term peace in the region.

US President Biden to meet Israel PM Netanyahu in New York; discussions on ties with Saudi Arabia

Saudi Arabia welcomed positive results from discussions to reach a road map supporting the peace process in Yemen, the kingdom’s foreign ministry said in a statement on Wednesday, after Houthi negotiators’ talks with the Saudis in Riyadh.

Houthi envoys left Riyadh on Tuesday after a five-day round of talks with Saudi officials on ending the eight-year-old conflict in Yemen, sources familiar with the meeting and Houthi media said.

The kingdom reaffirmed its commitment to promoting dialogue among all warring parties in Yemen, the Saudi defence minister said on Wednesday after meeting with the Houthi delegation.

“I emphasised the Kingdom’s support for Yemen and reaffirmed our commitment to promoting dialogue among all parties to reach a comprehensive political solution under UN supervision,” Prince Khalid bin Salman said in a post on messaging platform X.

Houthi envoys left Riyadh on Tuesday after a five-day round of talks with Saudi officials on a potential agreement paving the way to put an end to the eight-year-old conflict in Yemen, sources familiar with the meeting and Houthi media said.

Some progress has been made on the main sticking points, including a timeline for foreign troops exiting Yemen and a mechanism for paying public wages, two sources said, adding the sides would meet for more talks after consultations “soon.”

The Houthi delegation arrived in Saudi Arabia last week. It was the first such official visit to the kingdom since the war broke out in Yemen in 2014 after the Iran-aligned group ousted a Saudi-backed government there.

The talks are focused on a full reopening of Houthi-controlled ports and Sanaa airport, payment of wages for public servants, rebuilding efforts, and a timeline for foreign forces to quit Yemen. An agreement would allow the United Nations to restart a broader political peace process.

The Houthis have been fighting against a Saudi-led military alliance since 2015 in a conflict that has killed hundreds of thousands and left 80% of Yemen’s population dependent on humanitarian aid.

The United States has put pressure on its ally Saudi Arabia to end the war and linked some U.S. military support to the kingdom to ending its involvement in Yemen.

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Saudi Arabia welcomed positive results from discussions to reach a road map supporting the peace process in Yemen, the kingdom’s foreign ministry said in a statement on Wednesday, after Houthi negotiators’ talks with the Saudis in Riyadh.

Saudi Arabia welcomed positive results from discussions to reach a road map supporting the peace process in Yemen, the kingdom’s foreign ministry said in a statement on Wednesday, after Houthi negotiators’ talks with the Saudis in Riyadh. Houthi envoys left Riyadh on Tuesday after a five-day round of talks with Saudi officials on ending the eight-year-old conflict in Yemen, sources familiar with the meeting and Houthi media said. The kingdom reaffirmed its commitment to promoting dialogue among all warring parties in Yemen, the Saudi defence minister said on Wednesday after meeting with the Houthi delegation. “I emphasised the Kingdom’s support for Yemen and reaffirmed our commitment to promoting dialogue among all parties to reach a comprehensive political solution under UN supervision,” Prince Khalid bin Salman said in a post on messaging platform X. Houthi envoys left Riyadh on Tuesday after a five-day round of talks with Saudi officials on a potential agreement paving the way to put an end to the eight-year-old conflict in Yemen, sources familiar with the meeting and Houthi media said. Some progress has been made on the main sticking points, including a timeline for foreign troops exiting Yemen and a mechanism for paying public wages, two sources said, adding the sides would meet for more talks after consultations “soon.” The Houthi delegation arrived in Saudi Arabia last week. It was the first such official visit to the kingdom since the war broke out in Yemen in 2014 after the Iran-aligned group ousted a Saudi-backed government there. The talks are focused on a full reopening of Houthi-controlled ports and Sanaa airport, payment of wages for public servants, rebuilding efforts, and a timeline for foreign forces to quit Yemen. An agreement would allow the United Nations to restart a broader political peace process. The Houthis have been fighting against a Saudi-led military alliance since 2015 in a conflict that has killed hundreds of thousands and left 80% of Yemen’s population dependent on humanitarian aid. The United States has put pressure on its ally Saudi Arabia to end the war and linked some U.S. military support to the kingdom to ending its involvement in Yemen. WATCH WION LIVE HERE

Saudi Arabia welcomes positive results of talks to support peace process in Yemen

There is a strong push for electric vehicles around the world if reports are to be believed, Saudi Arabia is in talks with Tesla to set up a manufacturing facility in the Kingdom. According to media reports Saudi Arabia has been working with Tesla for the rights to purchase certain quantities of metals and minerals that the company needs for its electric vehicles.

Report: Tesla, Saudi Arabia in early talks for EV factory

Elon Musk has slammed the Wall Street Journal for its recent report claiming that the Tesla boss was currently in talks with Saudi Arabia to set up an electric vehicle factory in the kingdom.&nbsp;

Quashing the report, Musk took to X (formerly known as Twitter) and posted a screenshot of the article and captioned it as saying:&nbsp;"Yet another utterly false article from WSJ."&nbsp;

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<blockquote class="twitter-tweet">
Yet another utterly false article from WSJ <a href="https://t.co/sisFcxYKxI">pic.twitter.com/sisFcxYKxI</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1703790503286972701?ref_src=twsrc%5Etfw">September 18, 2023</a></blockquote>
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The publication earlier on Monday (September 18) carried a report titled - "Tesla, Saudi Arabia in Early Talks for EV Factory" wherein the claim was made, citing 'sources' familiar with the discussion.&nbsp;

"Saudi Arabia is in talks with Tesla about setting up a manufacturing facility there, people familiar with the discussions said, as part of an ambitious push by the kingdom to secure metals needed for electric vehicles and help diversify its economy away from oil,"&nbsp;read the article.

The report cited efforts by a Saudi state-backed investment fund to negotiate a deal to invest in the cobalt and lithium mines of&nbsp;Namibia, Guinea and the Democratic Republic of Congo as the reason for the Musk-Kingdom connection.&nbsp;Additionally, the report came just hours after Turkish President Recep Tayyip Erdogan asked Musk to build a factory in Turkey.&nbsp;

<a href="https://www.wionews.com/world/amid-us-china-tensions-musks-tesla-to-build-battery-factory-in-shanghai-580697">Also read |&nbsp;Amid US-China tensions, Musk's Tesla to build battery factory in Shanghai</a>

Earlier this year, the kingdom's&nbsp;Ministry of Investment signed a $5.6 billion deal with&nbsp;Chinese electric car maker Human Horizon. Similarly,&nbsp;US-based Lucid Group announced last month that its first overseas plant in Saudi Arabia is set to start limited production of Lucid Air EVs, beginning this month.&nbsp;

The report, however, claimed that the talks between Musk and Saudi officials were at an early stage and could crumble.&nbsp;

"The talks are at a very early stage and could fall apart. Any deal could be fraught with complications, given Tesla Chief Executive Elon Musk’s contentious relationship with the Saudis as well as the kingdom’s existing partnership with the company’s electric-vehicle rival Lucid Group," the report added.&nbsp;

<a href="https://www.wionews.com/videos/tesla-creates-a-secret-team-to-suppress-driving-range-complaints-620072">Watch |&nbsp;Tesla creates a secret team to suppress driving range complaints</a>

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<h2>Musk-WSJ quarrel&nbsp;</h2>

Notably, this is not the first instance when Musk has had a go at the Journal for its reports. Last year, after the publication carried a report claiming that Musk had an affair with the wife of Google co-founder Sergey Brin, the X boss called the article&nbsp;flimsy, unsupported “hearsay".

“The amount of attention on me has gone supernova, which super sucks. Unfortunately, even trivial articles about me generate a lot of clicks,”&nbsp;Musk said at the time. “Will try my best to be heads down focused on doing useful things for civilisation.”

(With inputs from agencies)

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Elon Musk has slammed the Wall Street Journal for its recent report claiming that the Tesla boss was currently in talks with Saudi Arabia to set up an electric vehicle factory in the kingdom.

Elon Musk has slammed the Wall Street Journal for its recent report claiming that the Tesla boss was currently in talks with Saudi Arabia to set up an electric vehicle factory in the kingdom. Quashing the report, Musk took to X (formerly known as Twitter) and posted a screenshot of the article and captioned it as saying: "Yet another utterly false article from WSJ." Yet another utterly false article from WSJ pic.twitter.com/sisFcxYKxI — Elon Musk (@elonmusk) September 18, 2023 × The publication earlier on Monday (September 18) carried a report titled - "Tesla, Saudi Arabia in Early Talks for EV Factory" wherein the claim was made, citing 'sources' familiar with the discussion. "Saudi Arabia is in talks with Tesla about setting up a manufacturing facility there, people familiar with the discussions said, as part of an ambitious push by the kingdom to secure metals needed for electric vehicles and help diversify its economy away from oil," read the article. The report cited efforts by a Saudi state-backed investment fund to negotiate a deal to invest in the cobalt and lithium mines of Namibia, Guinea and the Democratic Republic of Congo as the reason for the Musk-Kingdom connection. Additionally, the report came just hours after Turkish President Recep Tayyip Erdogan asked Musk to build a factory in Turkey. Also read | Amid US-China tensions, Musk's Tesla to build battery factory in Shanghai Earlier this year, the kingdom's Ministry of Investment signed a $5.6 billion deal with Chinese electric car maker Human Horizon. Similarly, US-based Lucid Group announced last month that its first overseas plant in Saudi Arabia is set to start limited production of Lucid Air EVs, beginning this month. The report, however, claimed that the talks between Musk and Saudi officials were at an early stage and could crumble. "The talks are at a very early stage and could fall apart. Any deal could be fraught with complications, given Tesla Chief Executive Elon Musk’s contentious relationship with the Saudis as well as the kingdom’s existing partnership with the company’s electric-vehicle rival Lucid Group," the report added. Watch | Tesla creates a secret team to suppress driving range complaints × Musk-WSJ quarrel Notably, this is not the first instance when Musk has had a go at the Journal for its reports. Last year, after the publication carried a report claiming that Musk had an affair with the wife of Google co-founder Sergey Brin, the X boss called the article flimsy, unsupported “hearsay". “The amount of attention on me has gone supernova, which super sucks. Unfortunately, even trivial articles about me generate a lot of clicks,” Musk said at the time. “Will try my best to be heads down focused on doing useful things for civilisation.” (With inputs from agencies) WATCH WION LIVE HERE

Musk slams WSJ report claiming he is in talks to build EV factory in Saudi Arabia

Saudi Arabia and Russia extended production curbs. The price of Crude Oil regarded as a global benchmark rose to around 95% barrel on Monday as investors fretted about a worsening supply gap in the fourth quarter.

Oil price surge to $95, inflation fears rise amid oil price rally | World DNA

After reports of Saudi Arabia reportedly conveying its decision to the Biden administration to suspend discussions about normalising relations with Israel,&nbsp;Israeli authorities rubbished such reports and asserted that discussions were still in progress, media reports said.&nbsp;

Arab news outlet Elaph, while quoting an Israeli official from the Prime Minister's Office, said that&nbsp;Riyadh has used the United States as an intermediary to inform it of its decision to end the peace deal. The unverified report said that Saudi cited concerns over the "extremist" nature of Israel's right-wing government, led by Prime Minister Benjamin Netanyahu.

Saudi officials reportedly believed that this government's stance was obstructing any potential progress in relations with Palestinians and, consequently, with Saudi Arabia.

Also Read | <a href="https://www.wionews.com/world/ex-wagner-fighters-struggle-to-find-jobs-in-russia-despite-official-pardon-636824">Ex-Wagner fighters struggle to find jobs in Russia despite official pardon</a>

The report further elaborated that Saudi Arabia was discouraged from pursuing a potential peace deal due to Prime Minister Netanyahu's perceived "acceptance" of demands put forth by National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich. It is worth noting that the Saudis view both leaders as "extreme right-wing" figures.&nbsp;

Later, in a conversation with Channel 12 news, Israeli authorities refuted the report, dismissing it as false and confirming that the peace deal is very much in place.

<h2>'Palestinian peace is important'</h2>

Earlier on Wednesday (September 13), US Secretary of State Antony Blinken stressed that Saudi Arabia has communicated to the Biden administration the importance of addressing Palestinian issues as a prerequisite for any normalisation agreement with Israel.

“It is also clear from what we hear from the Saudis that if this process is to move forward, the Palestinian peace is going to be very important too,” he said during a conversation with the podcast Pod Save the World.

Also Read | <a href="https://www.wionews.com/world/uae-willing-to-join-south-koreas-kf-21-fighter-jet-programme-replacing-indonesia-636817">UAE willing to join South Korea’s KF-21 fighter jet programme, replacing Indonesia</a>

Last month, Israeli Foreign Minister Eli Cohen in an interview with Elaph said, “The Palestinian issue will not be an obstacle to peace." “We also proved this in the Abraham Accords. We all have an interest in improving life in the areas of the Palestinian Authority."

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According to three United Nations diplomats who spoke to The Times of Israel on Thursday, Saudi Arabia is set to co-host an event on the United Nations General Assembly sidelines this week. The event will be focused on revitalising the Israeli-Palestinian peace process.

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After reports of Saudi Arabia reportedly conveying its decision to the Biden administration to suspend discussions about normalising relations with Israel, Israeli authorities rubbished such reports and asserted that discussions were still in progress, media reports said.

After reports of Saudi Arabia reportedly conveying its decision to the Biden administration to suspend discussions about normalising relations with Israel, Israeli authorities rubbished such reports and asserted that discussions were still in progress, media reports said. Arab news outlet Elaph, while quoting an Israeli official from the Prime Minister's Office, said that Riyadh has used the United States as an intermediary to inform it of its decision to end the peace deal. The unverified report said that Saudi cited concerns over the "extremist" nature of Israel's right-wing government, led by Prime Minister Benjamin Netanyahu. Saudi officials reportedly believed that this government's stance was obstructing any potential progress in relations with Palestinians and, consequently, with Saudi Arabia. Also Read | Ex-Wagner fighters struggle to find jobs in Russia despite official pardon The report further elaborated that Saudi Arabia was discouraged from pursuing a potential peace deal due to Prime Minister Netanyahu's perceived "acceptance" of demands put forth by National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich. It is worth noting that the Saudis view both leaders as "extreme right-wing" figures. Later, in a conversation with Channel 12 news, Israeli authorities refuted the report, dismissing it as false and confirming that the peace deal is very much in place. 'Palestinian peace is important' Earlier on Wednesday (September 13), US Secretary of State Antony Blinken stressed that Saudi Arabia has communicated to the Biden administration the importance of addressing Palestinian issues as a prerequisite for any normalisation agreement with Israel. “It is also clear from what we hear from the Saudis that if this process is to move forward, the Palestinian peace is going to be very important too,” he said during a conversation with the podcast Pod Save the World. Also Read | UAE willing to join South Korea’s KF-21 fighter jet programme, replacing Indonesia Last month, Israeli Foreign Minister Eli Cohen in an interview with Elaph said, “The Palestinian issue will not be an obstacle to peace." “We also proved this in the Abraham Accords. We all have an interest in improving life in the areas of the Palestinian Authority." Watch | Chinese city hunts for 5 runaway crocodiles × According to three United Nations diplomats who spoke to The Times of Israel on Thursday, Saudi Arabia is set to co-host an event on the United Nations General Assembly sidelines this week. The event will be focused on revitalising the Israeli-Palestinian peace process. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Israel rubbishes reports of Saudi suspending talks on peace deal

The Defence Ministry of the Kingdom of Saudi Arabia (KSA)&nbsp;executed two military personnel&nbsp;accused of committing treason, local media reports stated on Thursday (September 14).&nbsp;

Both military officers, a pilot and a sergeant major, had been under custody since 2017 and sentenced to&nbsp;death on charges of treason and not protecting the national interest and military honour.&nbsp;

The state agency reports did not elaborate on what the two allegedly did, other than accuse them of having “committed a number of major military crimes” during the war. The last time soldiers were executed in the West Asian country was in April 2021, when three were put to death.&nbsp;

Notably, the kingdom had&nbsp;been involved in Yemen where it was fighting the&nbsp;Iran-aligned Houthi group since 2015. While the fighting has largely stopped, Riyadh is unable to fully separate&nbsp;itself from the conflict, which has been the cause of death for tens of thousands.&nbsp;

On the same day as the executions, the kingdom said it was hosting a delegation of Yemen's Houthi rebels for talks on ending the long, drawn-out war.&nbsp;

The conflict started in September 2014&nbsp;when the Houthis overran the capital Sanaa, forcing Saudi Arabia to&nbsp;launch their offensive the following March.

<a href="https://www.wionews.com/videos/largest-mass-execution-in-recent-memory-saudi-arabia-executes-81-men-in-one-day-461905">WATCH |&nbsp;Largest mass execution in recent memory: Saudi Arabia executes 81 men in one day&nbsp;</a>

&nbsp;

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<h2>Kingdom and increased instances of executions&nbsp;</h2>

The kingdom has been infamous for its heavy-handedness in dealing with crime, treason and terrorism charges. Despite Crown Prince Mohammed bin Salman's attempts to showcase a liberal side of Saudi Arabia to the world, the kingdom's capital punishment record paints a different picture. Ever since taking over the reins in 2015, more than 1,000 death sentences have been implemented under his regime.

The death penalty is permitted in Saudi Arabia for crimes such as rape, murder, sedition, sorcery and drug trafficking. Last year in March, Saudi invited international attention after it executed 81 men in a single day for ‘multiple heinous crimes’, including terrorism.&nbsp;

<a href="https://www.wionews.com/world/in-a-rare-case-saudi-arabia-executes-man-during-the-holy-month-of-ramadan-578902" target="_blank">Also read | In a rare case, Saudi Arabia executes man during the holy month of Ramadan</a>

According to Amnesty International, since the beginning of the year, a total of 100&nbsp;people have been executed in the country. Consequently, Saudi Arabia stands fifth in the world in terms of the highest number of executions. The other four are China, Iran, Egypt and Iraq.

(With inputs from agencies)

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The Defence Ministry of the Kingdom of Saudi Arabia (KSA) executed two military personnel accused of committing treason, local media reports stated on Thursday (September 14).

The Defence Ministry of the Kingdom of Saudi Arabia (KSA) executed two military personnel accused of committing treason, local media reports stated on Thursday (September 14). Both military officers, a pilot and a sergeant major, had been under custody since 2017 and sentenced to death on charges of treason and not protecting the national interest and military honour. The state agency reports did not elaborate on what the two allegedly did, other than accuse them of having “committed a number of major military crimes” during the war. The last time soldiers were executed in the West Asian country was in April 2021, when three were put to death. Notably, the kingdom had been involved in Yemen where it was fighting the Iran-aligned Houthi group since 2015. While the fighting has largely stopped, Riyadh is unable to fully separate itself from the conflict, which has been the cause of death for tens of thousands. On the same day as the executions, the kingdom said it was hosting a delegation of Yemen's Houthi rebels for talks on ending the long, drawn-out war. The conflict started in September 2014 when the Houthis overran the capital Sanaa, forcing Saudi Arabia to launch their offensive the following March. WATCH | Largest mass execution in recent memory: Saudi Arabia executes 81 men in one day Kingdom and increased instances of executions The kingdom has been infamous for its heavy-handedness in dealing with crime, treason and terrorism charges. Despite Crown Prince Mohammed bin Salman's attempts to showcase a liberal side of Saudi Arabia to the world, the kingdom's capital punishment record paints a different picture. Ever since taking over the reins in 2015, more than 1,000 death sentences have been implemented under his regime. The death penalty is permitted in Saudi Arabia for crimes such as rape, murder, sedition, sorcery and drug trafficking. Last year in March, Saudi invited international attention after it executed 81 men in a single day for ‘multiple heinous crimes’, including terrorism. Also read | In a rare case, Saudi Arabia executes man during the holy month of Ramadan According to Amnesty International, since the beginning of the year, a total of 100 people have been executed in the country. Consequently, Saudi Arabia stands fifth in the world in terms of the highest number of executions. The other four are China, Iran, Egypt and Iraq. (With inputs from agencies) WATCH WION LIVE HERE:

Saudi Arabia executes two soldiers on treason charges: Report

The United States and Saudi Arabia are negotiating&nbsp;to obtain metals in Africa that are required to support the two nations as they make the transition to alternative energy sources, a source-based report in&nbsp;The Wall Street Journal noted.

As per the report, a state-backed Saudi enterprise would purchase stakes in $15 billion worth of mining assets in African nations like the Democratic Republic of the Congo, Guinea, and Namibia, granting U.S. businesses the opportunity to purchase some of the production.

For supply of cobalt, lithium, and other metals used in electric car batteries, laptops, and cellphones, the U.S. is racing with China.

Saudi Arabian Mining Co (Ma'aden) and the Saudi Public Investment Fund (PIF) acquired 10 per cent of Brazilian Vale’s base metal unit in a similar deal in July, while American investment group Engine No. 1 acquired 3 per cent.

The newspaper reported that the PIF contacted Congo in June about investing&nbsp;$3 billion, through its joint venture with Ma’aden, into the country's cobalt, copper, and tantalum industries.

Manara -- the joint venture between the PIF and&nbsp;Ma'aden --&nbsp;is also concentrating on nickel, lithium, and iron ore.

The White House is looking for financial support from other sovereign wealth funds in the area, but according to the Journal, negotiations with Saudi Arabia have advanced the most.

(With inputs from Reuters)

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The United States and Saudi Arabia are negotiating to obtain metals in Africa that are required to support the two nations as they make the transition to alternative energy sources, a source-based report in The Wall Street Journal noted.

The United States and Saudi Arabia are negotiating to obtain metals in Africa that are required to support the two nations as they make the transition to alternative energy sources, a source-based report in The Wall Street Journal noted. As per the report, a state-backed Saudi enterprise would purchase stakes in $15 billion worth of mining assets in African nations like the Democratic Republic of the Congo, Guinea, and Namibia, granting U.S. businesses the opportunity to purchase some of the production. For supply of cobalt, lithium, and other metals used in electric car batteries, laptops, and cellphones, the U.S. is racing with China. Saudi Arabian Mining Co (Ma'aden) and the Saudi Public Investment Fund (PIF) acquired 10 per cent of Brazilian Vale’s base metal unit in a similar deal in July, while American investment group Engine No. 1 acquired 3 per cent. The newspaper reported that the PIF contacted Congo in June about investing $3 billion, through its joint venture with Ma’aden, into the country's cobalt, copper, and tantalum industries. Manara -- the joint venture between the PIF and Ma'aden -- is also concentrating on nickel, lithium, and iron ore. The White House is looking for financial support from other sovereign wealth funds in the area, but according to the Journal, negotiations with Saudi Arabia have advanced the most. (With inputs from Reuters) WATCH WION LIVE HERE

US, Saudi Arabia are in dialogue to secure metals in Africa: Report

Building on G20 momentum, the never-tiring Indian PM Narendra Modi will today host Saudi Arabia’s Crown Prince Mohammed bin Salman with the objective of turning the Middle-East corridor project into reality and cementing bilateral ties with a rapidly rising West Asian global power. To know more watch this interview with former Indian Diplomat, AMB Anil Trigunayat.

PM Modi to have a bilateral meeting with Saudi Crown Prince Mohammed Bin Salman

Building on G20 momentum, the never-tiring Indian PM Narendra Modi will today host Saudi Arabia’s Crown Prince Mohammed bin Salman with the objective of turning the Middle-East corridor project into reality and cementing bilateral ties with a rapidly rising West Asian global power.

MBS in New Delhi: Saudi Crown Prince to meet with Indian President Droupadi Murmu

As rumors about a future normalization of relations emerge, a delegation from Israel attended a UNESCO meeting in Riyadh on Monday. This was the nation's first officially disclosed trip to Saudi Arabia.

Saudi Arabia: Five-member Israeli delegation attends heritage committee session

Crown Prince Mohammad bin Salman is on his second state visit to India. This visit follows a highly successful 2019 visit of Prime Minister Narendra Modi to Saudi Arabia during which the two countries established the Strategic Partnership Council. Here's all you need to know about the India-Saudi ties and the rapidly evolving global geopolitical dynamics.

Saudi Crown Prince Mohammed Bin Salman in New Delhi as he embarks on a state visit to India

Crown Prince Mohammed Bin Salman is on his second state visit to India. This visit follows the highly successful 2019 visit of Prime Minister Narendra Modi to Saudi Arabia, during which the two countries established the strategic partnership council. Here's all you need to know about the India-Saudi ties and the rapidly evolving global geopolitical dynamics.

PM Modi-Mohammed Bin Salman meet: Saudi Arabia going all out to move away from oil profits | Details

Prime Minister Narendra Modi and Saudi Crown Prince Mohammed bin Salman held the first Leaders’ Meeting of the Strategic Partnership Council in Delhi on Monday.

India and Saudi Arabia sign eight key agreements

Praises have been pouring in for India's successful G20 stewardship since the leaders began addressing the media after the conclusion of the summit's business on&nbsp;September 10. The latest is Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud, who was filled with adulation for New Delhi's ability to bring consensus within G20 in the form of landmark New Delhi leaders' declaration.

"Well done India, a lot of announcements made that will benefit both our countries, the G20 countries and the whole world. So I want to say to India well done, and we will work to create a future for both countries" he told reporters after the ceremonial welcome.

The Saudi leader held extensive talks with India's Prime Minister Narendra Modi and discussed shoring up bilateral trade and defence ties. Both leaders co-chaired the first meeting of the India-Saudi Arabia Strategic Partnership Council (SPC) at the Hyderabad House in New Delhi.

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His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud and I had very productive talks. We reviewed our trade ties and are confident that the commercial linkages between our nations will grow even further in the times to come. The scope for cooperation in grid… <a href="https://t.co/UalSTDmrTY">pic.twitter.com/UalSTDmrTY</a>
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A total of eight agreements were signed between India and Saudi Arabia, namely, Energy, Digitisation, CPV and Saudi anti corruption, National archives, Invest India &amp; Saudi counterparts, Exim banks, MSME and Desalination

Also watch |&nbsp;G20 Summit 2023: India-Middle East- Europe economic corridor announced

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Prince Mohammed bin Salman arrived in Delhi on Saturday for a three-day visit, combining his attendance at the G20 summit as well as a subsequent state visit.

Ahead of the talks, the Saudi leader was accorded a ceremonial reception at the Rashtrapati Bhavan, the official residence of India's president.

President Droupadi Murmu and Prime Minister Narendra Modi greeted the Crown Prince at the Rashtrapati Bhavan, where he inspected a combined defence services Guard of Honour.

One of the top highlights of the G20 summit has been the launch of an India-Middle East-Europe corridor announced by&nbsp;India, Saudi Arabia, the United States, and the European Union.

<h2>India-Middle East-Europe economic corridor</h2>

The launch of the India-Middle East-Europe economic corridor — which US President Joe Biden hailed as 'a real big deal' — is being described as a collective bid to outfox China's expansionist efforts with Beijing's ambitious Belt and Road Initiative.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/delhi-g20-modi-biden-mbs-launch-inter-continent-economic-corridor-to-outfox-chinas-bri-634176">G20 Delhi summit: Why India-Middle East-Europe economic corridor is a 'real big deal'</a>

"We look forward to the integration of the initiative and the Economic Corridor project which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor," Crown Prince of Saudi Arabia Muhammed Bin Salman said at the launch of the corridor on September 9.

Besides, the Indian-Saudi Investment Forum is being held in New Delhi on the sidelines of the official state visit to India by the Saudi Crown Prince.

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Praises have been pouring in for India's successful G20 stewardship since the leaders began addressing the media after the conclusion of the summit's business on September 10.

Praises have been pouring in for India's successful G20 stewardship since the leaders began addressing the media after the conclusion of the summit's business on September 10. The latest is Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud, who was filled with adulation for New Delhi's ability to bring consensus within G20 in the form of landmark New Delhi leaders' declaration. "Well done India, a lot of announcements made that will benefit both our countries, the G20 countries and the whole world. So I want to say to India well done, and we will work to create a future for both countries" he told reporters after the ceremonial welcome. The Saudi leader held extensive talks with India's Prime Minister Narendra Modi and discussed shoring up bilateral trade and defence ties. Both leaders co-chaired the first meeting of the India-Saudi Arabia Strategic Partnership Council (SPC) at the Hyderabad House in New Delhi. His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud and I had very productive talks. We reviewed our trade ties and are confident that the commercial linkages between our nations will grow even further in the times to come. The scope for cooperation in grid… pic.twitter.com/UalSTDmrTY — Narendra Modi (@narendramodi) September 11, 2023 × A total of eight agreements were signed between India and Saudi Arabia, namely, Energy, Digitisation, CPV and Saudi anti corruption, National archives, Invest India & Saudi counterparts, Exim banks, MSME and Desalination Also watch | G20 Summit 2023: India-Middle East- Europe economic corridor announced × Prince Mohammed bin Salman arrived in Delhi on Saturday for a three-day visit, combining his attendance at the G20 summit as well as a subsequent state visit. Ahead of the talks, the Saudi leader was accorded a ceremonial reception at the Rashtrapati Bhavan, the official residence of India's president. President Droupadi Murmu and Prime Minister Narendra Modi greeted the Crown Prince at the Rashtrapati Bhavan, where he inspected a combined defence services Guard of Honour. One of the top highlights of the G20 summit has been the launch of an India-Middle East-Europe corridor announced by India, Saudi Arabia, the United States, and the European Union. India-Middle East-Europe economic corridor The launch of the India-Middle East-Europe economic corridor — which US President Joe Biden hailed as 'a real big deal' — is being described as a collective bid to outfox China's expansionist efforts with Beijing's ambitious Belt and Road Initiative. Also read | G20 Delhi summit: Why India-Middle East-Europe economic corridor is a 'real big deal' "We look forward to the integration of the initiative and the Economic Corridor project which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor," Crown Prince of Saudi Arabia Muhammed Bin Salman said at the launch of the corridor on September 9. Besides, the Indian-Saudi Investment Forum is being held in New Delhi on the sidelines of the official state visit to India by the Saudi Crown Prince. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Well done India': Saudi Crown Prince all praise for India's G20 presidency as Delhi-Riyadh bond strengthens

Saudi Crown Prince in India: Trade between both nations reached all-time high in 2022-23

After taking part in the current G20 summit, Saudi Crown Prince Mohammed Bin Salman will begin his state visit on September 11th. With the introduction of the Partnership for Global Infrastructure and Investment (PGII) and the India-Middle East-Europe Economic Corridor, India and Saudi Arabia have joined the European Union and the United States.

Saudi Crown Prince Mohammed bin Salman to arrive on state visit soon after G20 Summit in India

Saudi Arabia’s spending spree on top-flight footballers has instantly turned it into one of the game’s biggest transfer markets—leapfrogging football powerhouses like Spain and Italy.

Football club spending: Saudi Arabia overtakes Spain, France, Italy, Germany

United States President Joe Biden went for a hearty handshake to greet Saudi Arabia’s de facto ruler Mohammed bin Salman (MBS) at the G20 Leaders' Summit in New Delhi on Saturday (Sep 9),&nbsp; after being questioned last year for fist-bumping the crown prince.

Biden warmly greeted the crown prince and both appeared together at the G20 summit along with the other leaders where they had gathered to announce a plan to build a rail and shipping corridor that would link India with the Middle East and Europe.

As the announcement wrapped up, Biden smiled and publicly shook hands with the crown prince.

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Charting a journey of shared aspirations and dreams, the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation, and shared progress. As history unfolds, may this corridor be a testament to human endeavour and unity across continents. <a href="https://t.co/vYBNo2oa5W">pic.twitter.com/vYBNo2oa5W</a>
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Last year, Biden had faced harsh criticism for sidestepping a handshake and instead going for a fist bump to greet the crown prince in Jeddah, Saudi Arabia.&nbsp;

For the awkward encounter, Biden was also denounced by human rights activists, who weren't happy with his decision to meet the Saudi prince in the first place.

MBS has over the years been harshly condemned for constantly violating human rights. He has also been accused of being behind the killing of US-based journalist Jamal Khashoggi, who was a tough critic of the kingdom’s ruling family.

As per reports, US intelligence officials claim that he had ordered the assassination of Khashoggi, who was a contributor for The Washington Post.

Also read:<a href="https://www.wionews.com/world/delhi-g20-modi-biden-mbs-launch-inter-continent-economic-corridor-to-outfox-chinas-bri-634176"> </a><a href="https://www.wionews.com/world/delhi-g20-modi-biden-mbs-launch-inter-continent-economic-corridor-to-outfox-chinas-bri-634176">G20 Delhi summit: Why India-Middle East-Europe economic corridor is a 'real big deal'</a>

At the time of Biden's meeting with Bin Salman last year, The Washington Post's Fred Ryan said, "The fist bump projected a level of intimacy and comfort that delivers to MBS the unwarranted redemption he has been desperately seeking."

Biden refused to speak to Prince Mohammed at the start of his administration. As a presidential candidate in 2020, Biden said he wanted to make the Saudis “pay the price and make them in fact the pariah that they are.”

<h2>Biden thanks the crown prince&nbsp;</h2>

While addressing the Partnership for Global Infrastructure and Investment (PGII) and India Middle East Europe Economic Corridor event, Biden thanked PM Modi, the crown prince and European Union's&nbsp;von der Leyen,&nbsp;terming the announcement of a mega India-Middle East-Europe shipping and railway connectivity corridor as " a real big deal".

"This is a real big deal. I want to thank PM. One Earth, One Family, One Future that's the focus of this G20 Summit. And in many ways, it's also the focus of this partnership that we're talking about today,” the US President said.

"I want to thank the sponsors. &nbsp;And I particularly want to thank Prime Minister Modi and the Crown Prince of Saudi Arabia, Mohammed bin Salman and President von der Leyen and the European Commissions," he added.

(With inputs from agencies) 
&nbsp;

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United States President Joe Biden went for a hearty handshake to greet Saudi Arabia’s de facto ruler Mohammed bin Salman (MBS) at the G20 Leaders' Summit in New Delhi on Saturday (Sep 9), after being questioned last year for fist-bumping the crown prince.

United States President Joe Biden went for a hearty handshake to greet Saudi Arabia’s de facto ruler Mohammed bin Salman (MBS) at the G20 Leaders' Summit in New Delhi on Saturday (Sep 9), after being questioned last year for fist-bumping the crown prince. Biden warmly greeted the crown prince and both appeared together at the G20 summit along with the other leaders where they had gathered to announce a plan to build a rail and shipping corridor that would link India with the Middle East and Europe. As the announcement wrapped up, Biden smiled and publicly shook hands with the crown prince. Charting a journey of shared aspirations and dreams, the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation, and shared progress. As history unfolds, may this corridor be a testament to human endeavour and unity across continents. pic.twitter.com/vYBNo2oa5W — Narendra Modi (@narendramodi) September 9, 2023 × Last year, Biden had faced harsh criticism for sidestepping a handshake and instead going for a fist bump to greet the crown prince in Jeddah, Saudi Arabia. For the awkward encounter, Biden was also denounced by human rights activists, who weren't happy with his decision to meet the Saudi prince in the first place. MBS has over the years been harshly condemned for constantly violating human rights. He has also been accused of being behind the killing of US-based journalist Jamal Khashoggi, who was a tough critic of the kingdom’s ruling family. As per reports, US intelligence officials claim that he had ordered the assassination of Khashoggi, who was a contributor for The Washington Post. Also read: G20 Delhi summit: Why India-Middle East-Europe economic corridor is a 'real big deal' At the time of Biden's meeting with Bin Salman last year, The Washington Post's Fred Ryan said, "The fist bump projected a level of intimacy and comfort that delivers to MBS the unwarranted redemption he has been desperately seeking." Biden refused to speak to Prince Mohammed at the start of his administration. As a presidential candidate in 2020, Biden said he wanted to make the Saudis “pay the price and make them in fact the pariah that they are.” Biden thanks the crown prince While addressing the Partnership for Global Infrastructure and Investment (PGII) and India Middle East Europe Economic Corridor event, Biden thanked PM Modi, the crown prince and European Union's von der Leyen, terming the announcement of a mega India-Middle East-Europe shipping and railway connectivity corridor as " a real big deal". "This is a real big deal. I want to thank PM. One Earth, One Family, One Future that's the focus of this G20 Summit. And in many ways, it's also the focus of this partnership that we're talking about today,” the US President said. "I want to thank the sponsors. And I particularly want to thank Prime Minister Modi and the Crown Prince of Saudi Arabia, Mohammed bin Salman and President von der Leyen and the European Commissions," he added. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Biden opts for hearty handshake to greet Saudi Arabia leader after being criticised for fist-bumping gesture

State-owned Saudi Aramco increased the price of its signature Arab Light to Asia in October by 10 cents to $3.60 a barrel over the benchmark, according to a price list obtained by Bloomberg. Although still the highest since December, the increase was less than the 30-cent increase predicted in a Bloomberg survey.

The de facto leader of OPEC increased prices for all grades by 20 cents a barrel to a record high for supply going to the US.

The action follows Saudi Arabia’s announcement this week that it will extend supply restrictions through December. It will maintain production at 9 million barrels per day, the lowest level in a number of years, as Russia extends its own export restrictions.

This has given rise to optimism that 2023 will conclude strongly for the oil market. After months of supply restrictions, Brent crude futures recently surpassed $90 per barrel, and some traders are betting on $100.

There was some respite for European buyers who had recently experienced a run of significant price increases. The list revealed that Aramco reduced supply costs into the Mediterranean and Northwest Europe by 10 cents per barrel, while they are still historically high.

European consumers of the kingdom’s petroleum were forced to look for alternatives, and many have since switched to sweet, or low-sulfur, oil.

Since the beginning of the year, the price of higher sulphurous crude, which accounts for the majority of the Saudi supply cuts, has skyrocketed. As a result, benchmark Brent crude futures have occasionally traded at significant discounts to barrels of lower quality from the Middle East.

(With inputs from Bloomberg)

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State-owned Saudi Aramco increased the price of its signature Arab Light to Asia in October by 10 cents to $3.60 a barrel over the benchmark, according to a price list obtained by Bloomberg.

State-owned Saudi Aramco increased the price of its signature Arab Light to Asia in October by 10 cents to $3.60 a barrel over the benchmark, according to a price list obtained by Bloomberg. Although still the highest since December, the increase was less than the 30-cent increase predicted in a Bloomberg survey. The de facto leader of OPEC increased prices for all grades by 20 cents a barrel to a record high for supply going to the US. The action follows Saudi Arabia’s announcement this week that it will extend supply restrictions through December. It will maintain production at 9 million barrels per day, the lowest level in a number of years, as Russia extends its own export restrictions. This has given rise to optimism that 2023 will conclude strongly for the oil market. After months of supply restrictions, Brent crude futures recently surpassed $90 per barrel, and some traders are betting on $100. There was some respite for European buyers who had recently experienced a run of significant price increases. The list revealed that Aramco reduced supply costs into the Mediterranean and Northwest Europe by 10 cents per barrel, while they are still historically high. European consumers of the kingdom’s petroleum were forced to look for alternatives, and many have since switched to sweet, or low-sulfur, oil. Since the beginning of the year, the price of higher sulphurous crude, which accounts for the majority of the Saudi supply cuts, has skyrocketed. As a result, benchmark Brent crude futures have occasionally traded at significant discounts to barrels of lower quality from the Middle East. (With inputs from Bloomberg) WATCH WION LIVE HERE

Saudi Arabia raises oil prices to Asia for fourth consecutive month: Report  

A day after Saudi Arabia and Russia extended their attempts to tighten the oil market, the Saudi kingdom handed consumers in Asia and the United States a small price hike for its oil.

Brent oil nears $100 as supplies shrink

Russia and Saudi Arabia, on Tuesday (September 5), said that they would extend the voluntary oil cuts until the end of this year. This has sent the price of Brent crude to a 10-month high, months after Saudi Arabia, the world’s biggest crude exporter, first announced the cuts as well as sparked worries among investors about potential shortages during peak winter demand.

<h2>Saudi Arabia announces oil export cuts</h2>

The announcement was made by Saudi Arabia’s energy ministry which said that they are extending the oil production cut to one million barrels per day, which first took effect in July, for “another three months until the end of December 2023.”&nbsp;

This comes after the oil production cuts were first announced after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia. This recent announcement also comes after a statement in early August said that the cut would last through September and possibly “deepened”, but that was not the case on Tuesday.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/saudi-arabia-announces-voluntary-oil-cut-of-1-mn-barrels-per-day-600480">Saudi Arabia announces further voluntary oil production cut of 1mn barrels per day</a>

The decision will be “reviewed monthly to consider deepening the cut or increasing production,” said the kingdom’s energy ministry. Notably, while Saudi Arabia has reported its daily capacity as 12 million bpd, currently their daily production stands at approximately nine million bpd.&nbsp;

<h2>What did Russia say?</h2>

Russia also said that it would extend its oil export cuts of 300,000 barrels per day until the end of 2023 to “maintain stability” on markets, as per AFP.&nbsp;

Deputy Prime Minister Alexander Novak announcing the extension said that they would also review the cuts monthly and take a call on whether to deepen them or whether production should be increased “depending on the global market situation.”&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/saudi-arabia-opec-members-announce-oil-production-cuts-by-over-a-million-bpd-578386">Saudi Arabia, OPEC+ members announce oil production cuts by over a million bpd</a>

<h2>Announcement affects markets</h2>

Brent crude futures rose by $1.04 or 1.2 per cent and settled at $90.04 a barrel, closing above the $90 mark for the first time since November 2022, according to Reuters.&nbsp;

While investors had expected Russia and Saudi Arabia to extend the voluntary cuts into October, a three-month extension came as a shock.

“These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide,” said Jorge Leon, senior vice president at Rystad Energy, as quoted by Reuters.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/global-oil-demand-to-reach-an-all-time-high-this-year-as-china-re-opens-iea-553899">Global oil demand to reach an all-time high this year as China re-opens, says IEA</a>

Last year, OPEC+ agreed to reduce output by two million barrels per day, a decision which drew criticism from the United States who accused Saudi Arabia of supporting Russia’s war in Ukraine.&nbsp;

UBS now reportedly expects Brent crude to rise to $95 a barrel by the end of 2023.&nbsp;

(With inputs from agencies)&nbsp; 
 
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Russia and Saudi Arabia, on Tuesday (September 5), said that they would extend the voluntary oil cuts until the end of this year. This has sent the price of Brent crude to a 10-month high, months after Saudi Arabia, the world’s biggest crude exporter, first announced the cuts as well as sparked worries among investors about potential shortages during peak winter demand.

Russia and Saudi Arabia, on Tuesday (September 5), said that they would extend the voluntary oil cuts until the end of this year. This has sent the price of Brent crude to a 10-month high, months after Saudi Arabia, the world’s biggest crude exporter, first announced the cuts as well as sparked worries among investors about potential shortages during peak winter demand. Saudi Arabia announces oil export cuts The announcement was made by Saudi Arabia’s energy ministry which said that they are extending the oil production cut to one million barrels per day, which first took effect in July, for “another three months until the end of December 2023.” This comes after the oil production cuts were first announced after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia. This recent announcement also comes after a statement in early August said that the cut would last through September and possibly “deepened”, but that was not the case on Tuesday. ALSO READ | Saudi Arabia announces further voluntary oil production cut of 1mn barrels per day The decision will be “reviewed monthly to consider deepening the cut or increasing production,” said the kingdom’s energy ministry. Notably, while Saudi Arabia has reported its daily capacity as 12 million bpd, currently their daily production stands at approximately nine million bpd. What did Russia say? Russia also said that it would extend its oil export cuts of 300,000 barrels per day until the end of 2023 to “maintain stability” on markets, as per AFP. Deputy Prime Minister Alexander Novak announcing the extension said that they would also review the cuts monthly and take a call on whether to deepen them or whether production should be increased “depending on the global market situation.” ALSO READ | Saudi Arabia, OPEC+ members announce oil production cuts by over a million bpd Announcement affects markets Brent crude futures rose by $1.04 or 1.2 per cent and settled at $90.04 a barrel, closing above the $90 mark for the first time since November 2022, according to Reuters. While investors had expected Russia and Saudi Arabia to extend the voluntary cuts into October, a three-month extension came as a shock. “These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide,” said Jorge Leon, senior vice president at Rystad Energy, as quoted by Reuters. ALSO READ | Global oil demand to reach an all-time high this year as China re-opens, says IEA Last year, OPEC+ agreed to reduce output by two million barrels per day, a decision which drew criticism from the United States who accused Saudi Arabia of supporting Russia’s war in Ukraine. UBS now reportedly expects Brent crude to rise to $95 a barrel by the end of 2023. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Russia and Saudi Arabia extend oil export cuts to end of 2023; oil prices soar

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