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US and Qatar sign agreements worth $1.2 trillionduring Trump’s visit to Doha

Update Qatari Emir Sheikh Tamim bin Hamad Al-Thani and US President Donald Trump oversaw the signing of several major agreements and memorandums of understanding on Wednesday during a state visit to Doha. (QNA)
Qatari Emir Sheikh Tamim bin Hamad Al-Thani and US President Donald Trump oversaw the signing of several major agreements and memorandums of understanding on Wednesday during a state visit to Doha. (QNA)
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Updated 15 May 2025

US and Qatar sign agreements worth $1.2 trillionduring Trump’s visit to Doha

US and Qatar sign agreements worth $1.2 trillionduring Trump’s visit to Doha
  • Deals includemassive order from Qatar Airways to buy 210 Boeing jets for $96 billion
  • Trump urges Qatar to use its influence over Iranto stop proxy wars as condition for nuclear deal

DOHA: US President Donald Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani agreed deals in Doha on Wednesday that the White House said were worth $1.2 trillion, including a massive order from Qatar Airways to buy Boeing aircraft.
Qatar Airways will buy up to 210 Boeing 777X and 787 widebody jets for $96 billion in a coup for both Trump and the planemaker.

Trump said he and Sheikh Tamim also discussed Iran, the Russia-Ukraine war, strengthening ties in defense, investment, energy, education and cybersecurity. They also touched on preparations for the FIFA World Cup 2026 and the 2028 Olympics, which will be hosted in the US.

The two leaders also witnessed the signing of a joint declaration of cooperation between the two governments, and letters of offer and acceptance for MQ-9B drones and the FS-LIDS anti-drone system, Qatar News Agency reported.
President Trump thanked the emir for Qatar’s warm hospitality and described Sheikh Tamim as a longtime friend and trusted partner. “We always had a very special relationship,” he said of the emir.
Senior Qatari ministers and US cabinet officials, including the secretaries of state, defense, treasury, commerce and energy, also attended the talks and signing ceremony.

Talks with Iran
Trump also urged Qatar to use its influence over Iran to persuade the country’s leadership to reach an agreement with the US to dial back its rapidly advancing nuclear program.
Qatar over the years has played the role of intermediary between the US and Iran and its proxies, including during talks with Tehran-backed Hamas as its 19-month war with Israel grinds on.
“I hope you can help me with the Iran situation,” Trump said during remarks at the state dinner. “It’s a perilous situation, and we want to do the right thing.”
Trump wants Iran to stop backing militant proxy groups.
Earlier, before he left ֱ for Qatar, Trump said he wanted to reach an agreement with Iran on its nuclear program, but Tehran must end its support for proxy militias throughout the Middle East.
Iran “must stop sponsoring terror, halt its bloody proxy wars, and permanently and verifiably cease pursuit of nuclear weapons,” Trump told Gulf leaders at a GCC summit in Riyadh. “They cannot have a nuclear weapon.”
The president’s demand for Iran to cease support of Hamas in Gaza, Hezbollah in Lebanon, and the Houthis in Yemen comes as Tehran’s proxy network faces significant setbacks.
Hezbollah is severely weakened after a war with Israel in which many of its leaders were killed, and it lost a key ally with the fall of Syrian dictator Bashar Assad, a conduit for Iran to send arms.

Terror-free future
Trump said the moment was ripe “for a future free from the grip of Hezbollah terrorists.”
In Gaza, Hamas has been militarily decimated by an Israeli offensive since October 2023.
Only the Houthis in Yemen have emerged relatively unscathed from an American bombing campaign that ended last week with a unilateral US ceasefire.
The US and Iran have had four rounds of nuclear talks since last month.
ֱ fully supported the talks and hoped for positive results, Foreign Minister Prince Faisal bin Farhan said on Wednesday.
Earlier, the leaders of the US and Syria met face-to-face for the first time in 25 years.
Ahmad Al-Sharaa, interim president of the Syrian Arab Republic, flew to Riyadh a day after Trump said he would lift sanctions on the Syrian economy after discussions with Saudi Crown Prince and Prime Minister Mohammed bin Salman.

The crown prince joined Trump and Al-Sharaa for the meeting. Turkish President Recep Tayyip Erdogan took part via video conference.
Syria’s Foreign Ministry hailed the meeting as “historic,” and said the two leaders had discussed “avenues for Syrian-American partnership in counterterrorism efforts” and the importance of supporting reconstruction.
There was elation on the streets of Damascus and other cities, with cheering, dancing and celebratory gunfire as Syrians rejoiced in their relief from US sanctions.
“These sanctions were imposed on Assad, but ... now that Syria has been liberated, there will be a positive impact on industry, it’ll boost the economy and encourage people to return,” said Aleppo soap factory owner Zain Al-Jabali, 54.




US President Donald Trump, Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani and Boeing CEO Kelly Ortberg at the Royal Palace in Doha on Wednesday. (AFP)

Big win for Trump and Boeing
The Qatar Airways deal for Boeing 777X and 787 planes with GE Aerospace engines is a win for Trump on a high-profile visit to the region, even though it will be years before the jets are delivered.
The sale is also a boost for Boeing and its biggest engine supplier at a time when large versions of rival Airbus’ A350, powered by Rolls-Royce engines, have struggled with maintenance problems from operating in the world’s hottest climates, including the Gulf region. The agreement is for 160 firm orders — 130 787s and 30 777Xs — and options for another 50 of the two long-haul airplanes, according to Boeing. The company’s shares rose 0.6 percent in New York, while GE Aerospace stock gained 0.7 percent.
For the 787s, Qatar opted for GE Aerospace’s GEnx engines rather than Rolls-Royce’s Trent 1000, according to the administration. GE Aerospace’s GE9X is the only engine option for the 777X. The deal for 400 GE engines is the largest ever for GE Aerospace, the company’s CEO Larry Culp said in a statement, a point echoed by Qatar Airways, which told Reuters in March that it was working on a large order for widebody jets.
Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani joined a signing ceremony with Boeing CEO Kelly Ortberg and Qatar Airways CEO Badr Mohammed Al-Meer. Trump said Ortberg told him it was the largest jet order in Boeing’s history.
The 777X is still in development and slated to start deliveries in 2026, six years behind schedule. Qatar Airways already has orders for 94 777Xs. Its competitor, Emirates, has orders for 205 777Xs. The two airlines were among the first customers when Boeing launched the program in 2013.
Boeing’s order book included 521 777X orders and 828 787 orders as of April 30, according to the company.

(With Agencies)


SME lending in ֱ surges past $112bn

SME lending in ֱ surges past $112bn
Updated 22 October 2025

SME lending in ֱ surges past $112bn

SME lending in ֱ surges past $112bn

RIYADH: Lending to small, medium, and micro enterprises in ֱ reached a record SR420.7 billion ($112.18 billion) by the end of the second quarter of 2025, up 37 percent from the same period last year, official data showed.

This represents an increase of more than SR113.3 billion compared with the second quarter of 2024, when SME facilities stood at SR307.4 billion, the Saudi Press Agency reported, citing data from the Saudi Central Bank, also known as SAMA.

On a quarterly basis, SAMA’s monthly statistical bulletin for August reported that lending increased 10 percent from SR383.2 billion at the end of the first quarter, adding SR37.5 billion in new credit.

It also aligns with Vision 2030’s target to increase SME contributions to gross domestic product from 30 percent to 35 percent. With more than 1.8 million SMEs operating in the Kingdom, supporting this sector financially is not just a policy goal but a macroeconomic necessity.

“The bulletin indicated that the facilities provided by the banking sector amounted to SR402.1 billion, constituting about 96 percent of the total facilities, while the facilities provided by the financing companies sector amounted to SR18.6 billion,” the SPA report stated. 

Medium-sized enterprises received the largest share of bank lending, securing SR198.9 billion, about 49 percent of total banking facilities. Small enterprises, meanwhile, dominated the financing companies’ portfolio, with SR8.5 billion, representing 46 percent of that sector’s total.

Overall, medium enterprises led total SME facilities with SR206.4 billion, representing 49 percent, followed by small enterprises at SR154.2 billion, or 37 percent, and micro enterprises at SR60.1 billion, accounting for 14 percent.

According to the General Authority for Small and Medium Enterprises, medium enterprises are defined as those with revenues between SR40 million and SR200 million or 50–249 employees.

Small enterprises have revenues of SR3 million to SR40 million, or six to 49 employees, while micro enterprises generate less than SR3 million or employ one to five people.


OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General
Updated 22 October 2025

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

JEDDAH: Global demand for oil is expected to reach around 123 million barrels per day by 2050, with the crude maintaining the largest share of the global energy mix at nearly 30 percent, OPEC Secretary-General Haitham Al-Ghais said.

Speaking at a conference in Kuwait on Oct. 22, Al-Ghais said demand for all types of fuel will continue to rise through 2050 and beyond, driven by population growth, economic expansion, rising urbanization, and the emergence of new energy-intensive industries, the Saudi Press Agency reported.

Al-Ghais added that meeting this projected demand will require massive investments estimated at about $18.2 trillion by 2050.

 


Closing Bell: Saudi main index ends in green at 11,585

Closing Bell: Saudi main index ends in green at 11,585
Updated 22 October 2025

Closing Bell: Saudi main index ends in green at 11,585

Closing Bell: Saudi main index ends in green at 11,585

RIYADH: ֱ’s Tadawul All Share Index rose on Wednesday, gaining 40.10 points, or 0.35 percent, to close at 11,585.90. 

The total trading turnover of the benchmark index was SR5.35 billion ($1.42 billion), as 91 of the listed stocks advanced, while only 163 retreated. 

The MSCI Tadawul Index also increased, up 3.47 points, or 0.23 percent, to close at 1,510.94. 

The Kingdom’s parallel market Nomu lost 36.98 points, or 0.15 percent, to close at 25,035.14. This comes as 39 of the listed stocks advanced, while 40 retreated. 

The best-performing stock was CHUBB Arabia Cooperative Insurance Co., with its share price surging 9.91 percent to SR32.84. 

Other top performers included LIVA Insurance Co., which saw its share price rise by 4.57 percent to SR13.50, and ֱn Oil Co., which saw a 3.75 percent increase to SR25.98.

On the downside, Canadian Medical Center Co. saw the largest drop, with its share falling 8.84 percent to SR8.25. 

Tourism Enterprise Co. fell 8.43 percent to SR15.75, while Naseej International Trading Co. dropped 7.04 percent to SR62.70. 

On the announcements front, the Saudi Investment Bank released its interim financial results for the first nine months of the year. 

Net profit reached SR518.4 million, up 0.11 percent year on year and 1.15 percent compared with the previous quarter. The bank attributed the modest annual increase to a decline in total operating expenses. 

In a statement on Tadawul, the bank said that total operating income had decreased by 3 percent, mainly due to a drop in net special commission income and fair value through the statement of income, partially offset by higher exchange income and fee income from banking services. 

SAIB’s shares traded 1.94 percent lower on the main market to reach SR13.67. 


Egypt’s labor reforms aim to attract Qatari investment

Egypt’s labor reforms aim to attract Qatari investment
Updated 22 October 2025

Egypt’s labor reforms aim to attract Qatari investment

Egypt’s labor reforms aim to attract Qatari investment

JEDDAH: Egypt and Qatar are set to deepen economic ties, with the North African country’s recent labor law reforms aimed at attracting Gulf investment and improving the business environment. 

Egypt’s Minister of Labor, Mohamed Abdel Aziz Gibran, met in Cairo with Mohamed bin Ahmed Al-Obaidli, a board member of the Qatar Chamber, to discuss boosting bilateral economic cooperation and encouraging Qatari investors to enter the Egyptian market.

The two sides also reviewed Egypt’s labor law and discussed ways to tackle challenges facing investors in the country’s labor market, according to the Qatar News Agency.

In mid-April, the two countries agreed to pursue a package of $7.5 billion in direct Qatari investments. The move comes as Egypt steps up efforts to secure funding from Gulf neighbors and other foreign partners to address high foreign debt and a large budget deficit. 

“During the discussions, HE the Minister reviewed the latest amendments to the Egyptian Labor Law, which include the establishment of an emergency fund to support workers and struggling companies, as well as the creation of an entity dedicated to training and upgrading workers’ skills,” QNA reported. 

It added that the Egyptian official said the new law seeks to create a more favorable work environment and promote a stable, secure climate for investors in Egypt. 

The meeting also reviewed the outcomes of Gibran’s recent visit to Qatar, during which he met with representatives of the Qatari private sector. 

“The visit resulted in positive understandings aimed at strengthening cooperation in the fields of labor, training, and employment,” the QNA report added. 

Al-Obaidli praised the strong fraternal ties between the countries, emphasizing the Qatar Chamber’s commitment to broadening cooperation across economic, commercial, and investment sectors. 

Egypt enacted Labor Law No. 14 of 2025, which took effect on Sept. 1, fully replacing previous labor legislation. 

The law introduces a wide range of reforms designed to modernize labor relations, enhance workers’ rights, and align with international labor standards.

It requires employers to provide annual salary increments, recognizes modern work arrangements such as remote work, part-time roles, flexible hours, and job sharing, and obliges them to contribute to a workforce training fund. 

The law also updates notice periods for resignations, extends maternity and paternity leave provisions, allows longer childcare leave, and regulates annual leave entitlements, including special provisions for disabled employees. 


Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn
Updated 22 October 2025

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn

RIYADH: Sovereign wealth funds from the Middle East and Asia are driving a resurgence in global mergers and acquisitions, with deal volumes surpassing $3.5 trillion since the start of the year, Asharq Business reported. 

The surge marks a 34 percent increase over the previous year, putting 2025 on track to be the strongest year for M&A since 2021. The third quarter alone saw over $1.3 trillion in deals, driven by a number of mega-transactions, according to data compiled by Bloomberg. 

The flurry of activity has been led by mega-deals involving some of the world’s deepest-pocketed state-backed funds. 

On Oct. 21, Blackstone Inc. and TPG Inc. agreed to acquire medical device maker Hologic Inc. for up to $18.3 billion, including debt. The deal features the Abu Dhabi Investment Authority and Singapore’s sovereign wealth fund GIC Pte as minority investors. 

In a separate transaction last week, BlackRock Inc. partnered with MGX, an AI firm backed by Abu Dhabi’s Mubadala Investment Co., in a $40 billion deal to acquire Aligned Data Centers. 

The week prior, Carlyle Group Inc. entered a partnership with the Qatar Investment Authority to purchase the coatings unit of BASF SE in a deal that valued the unit at €7.7 billion ($8.9 billion). 

In a landmark transaction in September, ֱ’s Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, completed the acquisition of video game giant Electronic Arts Inc. to take it private. This leveraged buyout, valued at $55 billion, stands as the largest of its kind in history. 

Beyond participating with private equity, sovereign wealth funds are aggressively expanding their in-house investment teams to execute more direct investments. This strategy allows them to capture profits without paying fees to Wall Street banks. 

They have also become major backers of private equity funds, successfully negotiating privileges that grant them co-investment rights alongside these funds in exchange for their substantial capital commitments. 

Heavy tech and AI focus 

The technology sector has been a particular focus for these funds. In August, ADIA supported Thoma Bravo’s acquisition of HR software provider Dayforce Inc. for nearly $12 billion. 

MGX, backed by the Abu Dhabi government and overseen by Sheikh Tahnoon bin Zayed Al Nahyan, has invested in OpenAI at a $500 billion valuation. It has also supported Elon Musk’s xAI venture and plans to contribute to the “Stargate” project announced by US President Donald Trump. 

Meanwhile, Singapore’s GIC and the Qatar Investment Authority have both invested substantial capital in OpenAI’s competitor, Anthropic. 

Wall Street sees deals continuing

Senior investment bankers anticipate that the M&A wave will persist. Goldman Sachs has predicted that deal activity will accelerate by year-end, with 2026 potentially setting a new record for the M&A market. 

Sovereign funds continue to hunt for new opportunities. For instance, the asset management arm of Mubadala is reportedly considering a bid for outdoor advertising company Clear Channel Outdoor Holdings Inc., which has a market value of approximately $930 million. 

Their investment interests are also expanding beyond direct acquisitions. Qatar Investment Authority recently participated in an over $2 billion funding round for a new company founded by Hollywood super-agent Ari Emanuel, alongside other investors like Apollo Global Management and Ares Management.