Saudi Arabia

Editor's Note: The headline of this story has been updated for factual accuracy. Sen. Lindsey Graham (R-S.C.) has called for a new approach to Middle East policy, advocating for either a “game changing peace” or a “game changing military strategy.” What Happened: On Thursday...

In a recent development, Nvidia Corp. (NASDAQ:NVDA) has begun supplying its advanced chips to Saudi Arabia, a move that has positively influenced market sentiment in the Middle East and Asia. What Happened: On Thursday, Brett McGonegal, chairman and CEO at Capital Link, discussed the impact of...

Yemen’s Houthi rebels have reportedly attacked two crude oil tankers in the Red Sea, as confirmed by the U.S. military. What Happened: The Houthi rebels, who are backed by Iran, targeted the Saudi-flagged “Amjad” and the Panama-flagged “Blue Lagoon I.” The U.S....

California does not appeal to Palantir co-founder and venture capitalist Peter Thiel, who finds a lot of parallels between the Golden State and Saudi Arabia. What Happened: Californians have no choice and people at the margins leave the state but it continues to collect more and more revenue, said...

Electric vehicle company Lucid Group (NASDAQ:LCID) reported second-quarter financial results after the market close Monday. Here are the key highlights. What Happened: Lucid Group reported second-quarter revenue of $200.6 million, beating a Street consensus estimate of $192.06 million, according to...

In a bid to bolster the artificial intelligence industry in Saudi Arabia, Saudi Aramco’s venture arm, Wa’ed Ventures, has invested $15 million in South Korean AI chipmaker Rebellions Inc. What Happened: Rebellions is collaborating with Samsung Electronics Co. to develop its proprietary...

U.S. Representative Marjorie Taylor Greene has raised alarms about the potential economic consequences for America as she claimed BRICS nations plan to move away from the U.S. dollar. On Wednesday, Greene tweeted that this shift could “destroy America's economy.” What Happened: The...

In a significant move, Saudi Aramco has announced an $11.2 billion stock sale, marking the largest global offering in three years. The proceeds will be channeled into Saudi Arabia’s ambitious economic overhaul. What Happened: The Saudi government is set to sell nearly 1.55 billion shares at...

Lenovo Group Ltd. (OTC:LNVGY) has decided to issue $2 billion worth of zero-coupon convertible bonds to Saudi Arabia Crown Prince Mohammed Bin Salman‘s sovereign wealth fund. This is part of a broader agreement with the tech-friendly kingdom. What Happened: The convertible bonds will be...

A unit of Saudi Arabia’s sovereign wealth fund, Jada, has invested in a $250 million health fund. This investment is expected to play a pivotal role in the kingdom’s healthcare industry. What Happened: The fund, named Afiyah, will focus on the healthcare sector in Saudi Arabia. The fund...

IBM (NYSE:IBM) has announced that it will be releasing a new set of artificial intelligence models as open-source software. Additionally, the company has secured a deal with Saudi Arabia to aid in the training of an AI system in Arabic. What Happened: IBM, based in Armonk, New York, has decided to...

The West Texas Intermediate (WTI) crude spot price, as tracked by the United States Oil Fund (NYSE:USO), hovered below $80 a barrel on Monday, remaining relatively stable despite significant geopolitical developments in the Middle East. Indeed, natural gas prices have experienced a substantial...

Saudi Crown Prince Mohammed bin Salman has postponed his scheduled trip to Japan due to concerns over the health of his father, King Salman Bin Abdulaziz. What Happened: The Crown Prince’s visit, which was set to take place from May 20 to May 23, has been postponed, Bloomberg reported. This...

Saudi Arabia’s Crown Prince Mohammed bin Salman is set to visit  U.S. Asian ally Japan later this month, which is expected further to strengthen the economic relationship between the two countries. What Happened: The Crown Prince, who is the de facto ruler of Saudi Arabia, will be in Japan...

The U.S. government and Saudi Arabia are reportedly on the brink of sealing a security pact, despite ongoing Middle East conflicts and the absence of an Israel-Saudi normalization agreement. What Happened: Seven sources privy to the matter have revealed that the proposed pact encompasses U.S....