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Future Investment Initiative Conference Gathers Global Decision-Makers in Riyadh

One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
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Future Investment Initiative Conference Gathers Global Decision-Makers in Riyadh

One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)
One of the dialogue sessions of the Future Investment Initiative in its previous edition (Asharq Al-Awsat)

Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Riyadh is set to launch the eighth edition of the Future Investment Initiative (FII) conference on Monday.
This year’s event carries the theme, “Infinite Horizons... Investing Today, Shaping Tomorrow” and will feature prominent figures in finance, investment, and technology.
Through its annual conference, often called the “Davos of the Desert,” the Future Investment Initiative aims to foster discussions on how investment can drive a prosperous and sustainable future, expanding the possibilities for humanity.
The conference is expected to attract over 7,000 guests and 500 speakers, covering a wide range of current topics across more than 200 sessions. Key areas of focus include economic stability, equitable development, climate change, artificial intelligence, innovation, health, and geopolitical issues.
Among those looking to leverage projects aligned with Saudi Arabia’s Vision 2030 are David Solomon of Goldman Sachs, Jane Fraser of Citigroup, and Larry Fink of BlackRock, which recently agreed to establish a multi-asset investment platform in Riyadh, backed by a $5 billion investment from Saudi Arabia’s sovereign wealth fund. This year, the conference will also host the New Africa Summit, featuring speakers from Africa’s mining and banking sectors.
Reflecting Saudi Arabia’s emphasis on technology and artificial intelligence, industry leaders in these fields will participate in the event. Notably, Alphabet President Ruth Porat, TikTok CEO Shou Zi Chew, and tech entrepreneur Benjamin Horowitz, co-founder of the venture capital firm Andreessen Horowitz, are scheduled to speak for the first time.
According to Richard Attias, CEO of the Future Investment Initiative, executives worldwide are expected to announce deals exceeding $28 billion. Some of these initiatives will focus on artificial intelligence, including a new potential fund with Andreessen Horowitz that could grow to $40 billion, as reported by Bloomberg.
The Kingdom is also expected to announce a new company that will invest at least $10 billion in making Saudi Arabia the world’s largest producer of hydrogen—a low-carbon fuel critical for the global transition away from fossil fuels. Key speakers from Asia will include Hong Kong’s Financial Secretary Paul Chan and Belt and Road Commissioner Nicholas Ho.
On the eve of the event, Swiss entrepreneur and FII participant Stephan Knuser told Asharq Al-Awsat that the conference will provide significant business insights for both local and international communities, anticipating that new partnerships will form between Swiss and Saudi companies in energy-efficient technologies and food security.
Neil Bush, Chairman of Sky Towers, remarked: “We view FII as not only a driver for attracting capital but also for bringing in technologies that accelerate Saudi Arabia’s goals.” According to Bush, the FII topics align with needs like business registration processes, free trade zone policies, and strategies for developing industrial complexes, which will help accelerate Vision 2030 goals, including carbon reduction.

 

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Trump Says He Will Raise US Global Tariff Rate from 10% to 15%

US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, DC, US, February 20, 2026. (Reuters)
US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, DC, US, February 20, 2026. (Reuters)
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Trump Says He Will Raise US Global Tariff Rate from 10% to 15%

US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, DC, US, February 20, 2026. (Reuters)
US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, DC, US, February 20, 2026. (Reuters)

President Donald Trump said on Saturday he will raise temporary tariffs on almost all US imports from 10% to 15%, the maximum level allowed under the law, after the US Supreme Court struck down his previous tariff program as invalid.

Trump had immediately announced a 10% across-the-board tariff on Friday after the court's decision, which ‌found the president ‌had exceeded his authority when ‌he ⁠imposed an array ⁠of higher rates under an economic emergency law.

The new levies are grounded in a separate law, known as Section 122, that allows tariffs up to 15% but requires congressional approval to extend them after 150 days.

In a ⁠social media post on Saturday, ‌Trump said he ‌would use that period to work on issuing other "legally ‌permissible" tariffs. The administration intends to rely ‌on two other statutes that permit import taxes on specific products or countries based on investigations into national security or unfair trade practices.

"I, as President of ‌the United States of America, will be, effective immediately, raising the 10% ⁠Worldwide ⁠Tariff on Countries, many of which have been 'ripping' the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level," he wrote in a Truth Social post.

Trump has shown little sign of backing off his global trade war in the hours since the court's 6-3 decision, attacking individual justices in personal terms and insisting he retained the power to impose tariffs as he sees fit.

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Asian Economies Weigh Impact of Fresh Trump Tariff Moves, Confusion

Shoppers crowd for the upcoming Chinese Lunar New Year celebrations at the Dihua Street market in Taipei, Taiwan, Sunday, Feb. 15, 202. (AP)
Shoppers crowd for the upcoming Chinese Lunar New Year celebrations at the Dihua Street market in Taipei, Taiwan, Sunday, Feb. 15, 202. (AP)
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Asian Economies Weigh Impact of Fresh Trump Tariff Moves, Confusion

Shoppers crowd for the upcoming Chinese Lunar New Year celebrations at the Dihua Street market in Taipei, Taiwan, Sunday, Feb. 15, 202. (AP)
Shoppers crowd for the upcoming Chinese Lunar New Year celebrations at the Dihua Street market in Taipei, Taiwan, Sunday, Feb. 15, 202. (AP)

US trading partners in Asia started weighing fresh uncertainties on Saturday after President Donald Trump vowed to impose a new tariff on imports, hours after the Supreme Court struck down many of the sweeping levies he used to launch a global trade war.

The court's ruling invalidated a number of tariffs that the Trump administration had imposed on Asian export powerhouses from China and South Korea to Japan and Taiwan, the world's largest chip maker and a key player in tech supply chains.

Within hours, Trump said he would impose a new 10% duty on US imports from all countries starting on Tuesday for an initial 150 days under a different law, prompting analysts to warn that more measures could follow, threatening more confusion for businesses and investors.

In Japan, a government spokesman said Tokyo "will carefully examine the content of this ruling and ‌the Trump administration's response ‌to it, and respond appropriately."

China, which is preparing to host Trump in ‌late ⁠March, has yet to ⁠formally comment or launch any counter moves with the country on an extended holiday. But a senior financial official in China-ruled Hong Kong described the US situation as a "fiasco".

Christopher Hui, Hong Kong's secretary for financial services and the treasury, Trump's new levy served to underscore Hong Kong's "unique trade advantages", Hui said.

"This shows the stability of Hong Kong's policies and our certainty ... it shows global investors the importance of predictability," Hui said at a media briefing on Saturday when asked how the new US tariff's would affect the city's economy.

Hong Kong operates as a separate customs territory from mainland China, a ⁠status that has shielded it from direct exposure to US tariffs targeting Chinese goods.

While ‌Washington has imposed duties on mainland exports, Hong Kong-made products have ‌generally faced lower tariff rates, allowing the city to maintain trade flows even as Sino-US tensions escalated.

Before the Supreme Court's ruling, Trump's ‌tariff push had strained Washington's diplomatic relations across Asia, particularly for export-reliant economies integrated into US-bound supply chains.

Friday's ruling ‌concerns only the tariffs launched by Trump on the basis of the International Emergency Economic Powers Act, or IEEPA, intended for national emergencies.

Trade policy monitor Global Trade Alert estimated that by itself, the ruling cuts the trade-weighted average US tariff almost in half from 15.4% to 8.3%.

For those countries on higher US tariff levels, the change is more dramatic. For China, Brazil and ‌India, it will mean double-digit percentage point cuts, albeit to still-high levels.

In Taiwan, the government said it was monitoring the situation closely, noting that the US government ⁠had yet to determine how ⁠to fully implement its trade deals with many countries.

"While the initial impact on Taiwan appears limited, the government will closely monitor developments and maintain close communication with the US to understand specific implementation details and respond appropriately," a cabinet statement said.

Taiwan has signed two recent deals with the US - one was a Memorandum of Understanding last month that committed Taiwan to invest $250 billion and the second was signed this month to lowering reciprocal tariffs.

Analysts say the Supreme Court's ruling against Trump's more aggressive tariff measures may offer little relief for the global economy. They warned of looming confusion as trading nations brace for moves by Trump to find other means of using levies to circumvent the ruling.

Thailand's Trade Policy and Strategy Office head Nantapong Chiralerspong said the ruling might even benefit its exports as uncertainty drove a fresh round of "front loading", where shippers race to move goods to the US, fearing even higher tariffs.

In corporate disclosures tracked by Reuters, firms across the Asia-Pacific region reported financial hits, supply shifts and withdrawals as levies escalated through 2025 and early 2026.

Business

Brazil, India Eye Critical Minerals Deal as Leaders Meet

Brazil's President Luiz Inacio Lula da Silva (L) and Indian Prime Minister Narendra Modi are expected to discuss efforts to increase trade links. Ludovic MARIN / AFP/File
Brazil's President Luiz Inacio Lula da Silva (L) and Indian Prime Minister Narendra Modi are expected to discuss efforts to increase trade links. Ludovic MARIN / AFP/File
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Brazil, India Eye Critical Minerals Deal as Leaders Meet

Brazil's President Luiz Inacio Lula da Silva (L) and Indian Prime Minister Narendra Modi are expected to discuss efforts to increase trade links. Ludovic MARIN / AFP/File
Brazil's President Luiz Inacio Lula da Silva (L) and Indian Prime Minister Narendra Modi are expected to discuss efforts to increase trade links. Ludovic MARIN / AFP/File

India's Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva are set to meet in New Delhi on Saturday, seeking to boost cooperation on critical minerals and rare earths.

Brazil has the world's second-largest reserves of these elements, which are used in everything from electric vehicles, solar panels and smartphones to jet engines and guided missiles.

India, seeking to cut its dependence on top exporter China, has been expanding domestic production and recycling while scouting for new suppliers.

Lula, heading a delegation of more than a dozen ministers as well as business leaders, arrived in New Delhi on Wednesday for a global summit, reported AFP.

Officials have said that in talks with Modi on Saturday, the two leaders are expected to sign a memorandum on critical minerals and discuss efforts to increase trade links.

The world's most populous nation is already the 10th largest market for Brazilian exports, with bilateral trade topping $15 billion in 2025.

The two countries have set a trade target of $20 billion to be achieved by 2030.

With China holding a near-monopoly on rare earths production, some countries are seeking alternative sources.

Rishabh Jain, an expert with the Delhi-based Council on Energy, Environment and Water think tank, said India's growing cooperation with Brazil on critical minerals complements recent supply chain engagements with the United States, France and the European Union.

While these partnerships grant India access to advanced technologies, finance and high-end processing capabilities, "Global South alliances are critical for securing diversified, on-ground resource access and shaping emerging rules of global trade", Jain told AFP.

- 'Challenges' -

Modi and Lula are also expected to discuss global economic headwinds and strains on multilateral trade systems after both of their countries were hit by US tariffs in 2025, prompting the two leaders to call for stronger cooperation.

Washington has since pledged to roll back duties on Indian goods under a trade deal announced earlier this month.

"Lula and Modi will have the opportunity to exchange views on... the challenges to multilateralism and international trade," said Brazilian diplomat Susan Kleebank, the secretary for Asia and the Pacific.

Brazil is India's biggest partner in Latin America.

Key Brazilian exports to India include sugar, crude oil, vegetable oils, cotton and iron ore.

Demand for iron ore has been driven by rapid infrastructure expansion and industrial growth in India, which is on track to become the world's fourth largest economy.

Brazilian firms are also expanding in the country, with Embraer and Adani Group announcing plans last month to build aircraft in India.

Lula addressed the AI Impact summit in Delhi on Thursday, calling for a multilateral and inclusive global governance framework for artificial intelligence.

He will travel on to South Korea for meetings with President Lee Jae Myung and to attend a business forum.