US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
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US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)

Former US officials predicted that the Saudi talks at the White House will focus on three main pillars that would pave the way for regional stability and stimulate economic investments.

Scott Pruitt, former Administrator of the Environmental Protection Agency (EPA), said the first pillar is “security and regional architecture. Second is energy, not only oil and gas, but also hydrogen, ammonia, and critical minerals that will power the next generation of industry. The third is investment and technology.”

Prince Mohammed bin Salman, Crown Prince and Prime Minister, had arrived in the US on Tuesday where he held talks with President Donald Trump that focused on consolidating the strategic partnership between their countries. Numerous agreements were announced on the sidelines of the visit.

Pruitt told Asharq Al-Awsat that the relationship between Saudi Arabia and the US “has moved from transactional to strategic.”

“When I first engaged on these issues in government, the focus was largely energy supply and security guarantees. Today, we see structured strategic dialogues, US companies embedded in Saudi mega-projects, two-way investment flows, and growing cooperation in space, digital infrastructure, and advanced industry,” he added.

“The Kingdom’s reforms and Vision 2030 agenda have opened new sectors, tourism, entertainment, logistics, where American firms are natural partners. In short, the cooperation is deeper, more diversified, and more forward-looking than at any other time in our history,” he stressed.

“Visits at this level do two critical things: they set direction and they de-risk action,” Pruitt went on to say. “This meeting can give political backing to move from talking points to term sheets, advancing joint ventures in defense and space, localizing manufacturing in the Kingdom, and forming long-term offtake and investment agreements.”

“As a former regulator, I also see a crucial opportunity for the US and Saudi Arabia to shape the standards and ‘rules of the road’ for these new energy and technology sectors together, instead of leaving that space to others. If that happens, trade, co-investment, and technology transfer will not just increase, but will be anchored in a shared strategic framework that benefits both nations for decades,” he stressed.

Strategic industries

Brian D. Ballard, founder of Ballard Partners, told Asharq Al-Awsat that the Crown Prince’s visit “underscores the renewed strength and shared vision of Saudi-American relations under Trump’s leadership. This visit comes at a pivotal moment as both nations advance a common agenda of security, investment, and innovation.”

“Trump and the Crown Prince are expected to focus on deepening cooperation in defense, trade, and energy - pillars of a partnership that continues to drive prosperity and stability across both nations,” he continued.

“The US-Saudi relationship has reached new heights, grounded in mutual respect and economic opportunity. Under Trump’s leadership, we’ve seen exceptional momentum in technology transfer, energy diversification, and private-sector engagement aligned with Vision 2030,” he remarked.

“This visit will further expand collaboration in strategic industries - from defense and space to renewable energy and hydrogen - cementing the US-Saudi partnership as one of the most consequential alliances shaping the global future,” he added.

Emerging technologies

Edward Mermelstein, former New York City Commissioner for International Affairs, said the Crown Prince’s visit “has the potential to accelerate cooperation” between the Kingdom and the US.

In remarks to Asharq Al-Awsat, he noted that “Saudi Arabia is advancing some of the world’s most ambitious green energy projects, including major investments in hydrogen and ammonia production.”

“Security and energy will always remain essential pillars of the relationship, but the most forward-looking conversations will center on emerging technologies, supply-chain resilience, advanced manufacturing, and economic diversification,” he went on to say.

“The US offers unparalleled expertise in advanced technology, clean energy engineering, defense innovation, and space science,” he said.

“During my tenure as Commissioner for International Affairs in New York City, I saw significant Saudi interest in our city’s leadership in artificial intelligence, life sciences, and urban innovation. At the same time, American companies are increasingly drawn to the scale and ambition of projects underway in the Kingdom.”

“A stronger federal relationship will accelerate what is already happening at the city level. New York and Riyadh are natural partners in creating tech ecosystems, supporting investment platforms, and building the next generation of sustainable and digital infrastructure,” Mermelstein remarked.

“The Crown Prince’s visit adds political support to these efforts and will speed the movement of capital, talent, and technology,” he said.

“This visit arrives at a moment when both countries are looking to deepen cooperation that delivers practical results. Throughout my years of working closely with the Saudi Consulate in New York and engaging with Saudi delegations across business, culture, and technology, I witnessed how Vision 2030 has already reshaped conversations in the United States,” he stated.

“The Crown Prince’s visit elevates that progress to the national level. It signals that both governments are ready to translate shared ambitions into action. For major cities like New York and Riyadh, this creates new opportunities to expand collaboration in technology, investment, education, cultural exchange, and sustainable development. It reinforces a partnership that is already producing real impact on the ground,” he added.



IMF Says it's Updating Assessment of US Economy to Reflect Impact of Iran War

An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo
An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo
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IMF Says it's Updating Assessment of US Economy to Reflect Impact of Iran War

An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo
An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo

The International Monetary Fund on Thursday said it is updating a recently completed review of the US economy to reflect the impact of the Iran war, Reuters reported.

IMF spokeswoman Julie Kozack said the updated assessment would be considered by the IMF's board in coming weeks and then published.


Czech Central Bank Keeping Options open as Iran War Clouds Rate Prospects

People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo
People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo
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Czech Central Bank Keeping Options open as Iran War Clouds Rate Prospects

People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo
People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo

The Czech National Bank (CNB) held interest rates steady as expected on Thursday and said it was keeping options open as it monitors the economic fallout from the conflict in the Middle East.

Since the United States and Israel launched strikes on Iran on February 28, oil prices have jumped above $100 a barrel, raising global risks of higher inflation and an economic hit.

Czech central bank policymakers voted unanimously to keep the main rate steady at 3.50% on Thursday, in line with forecasts from all 17 analysts in a Reuters poll last week.

The poll's median forecast saw interest rates remaining on hold for the rest of the year, although money markets have priced in chances of a hike. Governor Ales Michl said after the decision that the conditions for fighting inflation are now better than during the previous energy and inflation shock following Russia's invasion of Ukraine in 2022, as policy is now tighter and rates are higher than inflation.

He added that inflation expectations remain anchored, and it was important to keep them low.

"We are acting restrictively in the economy," he said. "On the other hand, we are monitoring the situation, we are keeping all options open."

The Czech crown was a touch weaker after the bank's decision but largely steady on the day, at 24.49 to the euro, and around its lowest levels since September after this month's declines.

INFLATION STILL SEEN STAYING LOW

The central bank had discussed a possible rate cut at its last meeting in February, before the Iran war. It last cut rates in May 2025 as part of a 350-basis-point easing cycle.

Inflation in the Czech Republic has fallen below the bank's 2% target, hitting a headline rate of 1.4% year-on-year in February with help from a government measure to ease energy bills. That provides a cushion to potential shock from higher oil prices, and Michl said inflation should stay below 2% this year, according to updated forecasts partly incorporating higher oil prices, even though core inflation should remain elevated in the quarters ahead.

The central bank will be looking at the secondary impacts of a higher oil price to see if it soaks through to other segments.


King Khalid International Airport Wins World’s Most Improved Airport at Skytrax Awards 2026

The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA
The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA
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King Khalid International Airport Wins World’s Most Improved Airport at Skytrax Awards 2026

The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA
The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA

King Khalid International Airport, managed and operated by Riyadh Airports Company, has achieved global recognition after being named “World’s Most Improved Airport” among more than 560 airports worldwide in 2026. It also received the award for Best Airport in the 30–40 million passengers category, ranked 14th on the list of the world’s best airports, and placed second for Best Airport Staff in the Middle East.

The recognition was announced during the Skytrax World Airport Awards ceremony, held in London on March 18, as part of the Passenger Terminal Expo “PTE World 2026,” with the participation of leading aviation industry figures and experts from around the world, SPA reported.

The achievement reflects the significant progress the airport has made across various areas, driven by a series of development initiatives that have enhanced the passenger experience and elevated service quality in line with the highest international standards, resulting in a qualitative leap in operational efficiency and performance.

This milestone underscores the Kingdom’s accelerating transformation across multiple sectors, including aviation, which continues to grow in line with the objectives of Saudi Vision 2030, aimed at positioning the Kingdom as a global logistics hub and a key center for domestic and international travel.

CEO of Riyadh Airports Company Ayman AboAbah said the achievements reflect the company’s firm commitment to advancing operational services and airport infrastructure.

Meanwhile, Skytrax CEO Edward Plaisted said the recognition reflects the scale of development achieved at King Khalid International Airport, noting that travelers are experiencing clear improvements across all stages of their journey.

He added that the airport’s rise to 14th place in the list of the world’s top 100 airports underscores the strength and impact of these developments, the efficiency of the upgrade plans, and their success in enhancing passenger experience, reinforcing its position as a key regional travel hub, and embodying the scale of its exceptional transformation.