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  • Biggest Saudi IPO of the Year Sells Out in Under an Hour

    Dr. Soliman Abdul Kader Fakeeh Hospital and its shareholders are seeking to raise as much as 2.86 billion riyals ($763.4 million) in the Riyadh initial public offering. Books were covered throughout the price range of 53 riyals to 57.5 riyals per share, according to terms of the deal seen by Bloomberg News.

  • How Microsoft’s billion-dollar bet on G42 spotlights the UAE’s AI ascension

    In the aftermath of Microsoft's $1.5 billion investment in Abu Dhabi artificial intelligence and cloud company G42, the spotlight is now on the Middle East's growing stature as a regional leader for global technology.

    The charge, led by the UAE and Saudi Arabia, has attracted attention from the likes of Oracle, Google and Amazon and highlights increasing investor confidence in the region, with growing financial backing from, and relations with, the West, considered the home of the world's technology industry leaders.

  • US and Saudi Arabia nearing agreement on security pact, sources say

    The Biden administration and Saudi Arabia are finalizing an agreement for U.S. security guarantees and civilian nuclear assistance, even as an Israel-Saudi normalization deal envisioned as part of a Middle East “grand bargain” remains elusive, according to seven people familiar with the matter.
    A working draft lays out principles and proposals aimed at putting back on track a U.S.-led effort to reshape the volatile region that was derailed by Hamas’ Oct. 7 attack on Israel and the outbreak of war in Gaza, according to two sources who have seen the document.

  • Saudi-US Defense Pact Faces Netanyahu Obstacle

    To secure the 67 votes in the US Senate to become a binding treaty, as Riyadh insists, it almost certainly needs Saudi Arabia to establish diplomatic relations with Israel. And that in turn requires an end to the Gaza conflict and an Israeli commitment to a Palestinian state.

  • Banking Giants Race to Riyadh as MBS Steps Up Pressure Campaign

    The move is intended to lure business from international financial centers like Hong Kong and Singapore and particularly nearby Dubai. And bankers say Saudi pressure to expand on the ground goes beyond the new law: During discussions, senior Saudi officials persistently ask if executives plan to spend more time in the kingdom or expand existing offices, while offering to fast track licenses for those committing to live with their families in Riyadh. Government representatives didn’t respond to a request for comment.

  • Opinion: Israel and Saudi Arabia Are Trading Places

    Saudi Arabia and Israel are America’s two most important Middle East allies, and the Biden administration is deeply involved with both today, trying to forge a mutual defense treaty with Saudi Arabia and help Israel in its conflicts with Hamas and Iran. But the Biden team has run into an unprecedented situation with these two longtime partners that is creating a huge opportunity and a huge danger for America. It derives from the contrast in their internal politics.

  • Exxon Mobil reaches agreement with FTC, poised to close $60 billion Pioneer deal

    The Federal Trade Commission will wave through Exxon Mobil’s roughly $60 billion acquisition of Pioneer Natural Resources after reaching an agreement with the energy giant, a source familiar with the matter told CNBC. The FTC will not block the deal now that the regulator and Exxon have reached a consent agreement, the source said. The agreement will bar Pioneer’s former CEO Scott Sheffield from joining the Exxon board.

  • Blinken says US cannot support Rafah assault without humanitarian plan

    U.S. Secretary of State Antony Blinken said on Wednesday he has still not seen a plan for Israel's planned offensive on the southern Gaza city of Rafah that would protect civilians, repeating that Washington could not support such an assault.
    Blinken and Israeli Prime Minister Benjamin Netanyahu met in Jerusalem for two-and-a-half hours, after which Israel repeated that the Rafah operation would go ahead despite the U.S. position and a U.N. warning that it would lead to "tragedy".

  • Biden faces tough balancing act as campus protests over Gaza escalate

    Escalating campus protests are forcing U.S. President Joe Biden to walk a careful line of denouncing antisemitism while supporting young Americans' right to protest and trying to limit longer-term political damage.
    As violent police crackdowns and counter-protests greet spreading demonstrations across U.S. campuses, Biden faces sharp criticism of his Israel policy from both the left and right.
    Students at dozens of schools have rallied or camped out in recent days to oppose Israel's war in Gaza, demanding institutions stop doing business with companies that support the war.

  • Israeli war cabinet to meet on hostages, Rafah plan on Thursday

    Top Israeli ministers will convene on Thursday to discuss a proposed Gaza truce to free some hostages held by Hamas, as well as prospects for an army sweep of the southern tip of the enclave packed with displaced Palestinians, a government source said.
    Prime Minister Benjamin Netanyahu's war cabinet was provisionally slated to meet at 6.30 pm (1530 GMT), followed by the wider security cabinet, the source said. Israel does not generally publish information on sessions of the two groups.