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Khartoum Reviews Decision to Seize Lands Owned by Saudi Investors

Saudi investments in the country are estimated at more than USD 6 billion, according to the head of the Joint Saudi-Sudanese Business Council. (Asharq Al-Awsat)
Saudi investments in the country are estimated at more than USD 6 billion, according to the head of the Joint Saudi-Sudanese Business Council. (Asharq Al-Awsat)
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Khartoum Reviews Decision to Seize Lands Owned by Saudi Investors

Saudi investments in the country are estimated at more than USD 6 billion, according to the head of the Joint Saudi-Sudanese Business Council. (Asharq Al-Awsat)
Saudi investments in the country are estimated at more than USD 6 billion, according to the head of the Joint Saudi-Sudanese Business Council. (Asharq Al-Awsat)

Sudan’s Minister of Investment, Dr. Al-Hadi Muhammad Ibrahim, underlined on Monday a strategic plan to solve issues pertaining to Saudi investments in his country.

He said he was looking forward to activating the banking mechanisms between the two sides, after the removal of Sudan from the US list of countries sponsoring terrorism.

The minister also stressed the importance of Saudi investments in Sudan, as one of the most significant resources for the development of the Sudanese economy that provides job opportunities for the youth.

His remarks came during a virtual meeting with members of the Executive Committee of the Saudi-Sudanese Business Council to discuss the main obstacles facing Saudi investors in Sudan at the request of Eng. Hussein Saeed Bahri, Chairman of the Council.

Bahri told Asharq Al-Awsat that the meeting focused on the reality and size of Saudi investments, the obstacles facing such investments, and the need to develop a clear strategy to solve related problems.

He added that the discussions emphasized the need to find a solution to the problem of ports and the means to provide fuel, in addition to reconsidering recent decisions to reclaim some lands owned by Saudi investors in Sudan.

He also quoted the Sudanese Minister of Investment as saying that Saudi investments would receive great attention from his government, as they currently constitute the biggest share of investments in the country.

The head of the joint business council pointed out that Saudi investments in Sudan were estimated at more than USD6 billion in agriculture, industry and the services sector, with a particular focus on agricultural and livestock projects.

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More than 50 Countries Have Contacted White House to Start Trade Talks, Trump Adviser Says

A view of a container terminal at Tanjung Priok Port in Jakarta, Indonesia, February 12, 2025. (Reuters)
A view of a container terminal at Tanjung Priok Port in Jakarta, Indonesia, February 12, 2025. (Reuters)
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More than 50 Countries Have Contacted White House to Start Trade Talks, Trump Adviser Says

A view of a container terminal at Tanjung Priok Port in Jakarta, Indonesia, February 12, 2025. (Reuters)
A view of a container terminal at Tanjung Priok Port in Jakarta, Indonesia, February 12, 2025. (Reuters)

More than 50 countries have reached out to the White House to begin trade talks, a top economic adviser to US President Donald Trump said on Sunday as US officials sought to defend sweeping new tariffs that have unleashed global turmoil.

During an interview on ABC News' "This Week," US National Economic Council Director Kevin Hassett denied that the tariffs were part of a strategy by Trump to crash financial markets to pressure the US Federal Reserve to cut interest rates.

He said there were would be no "political coercion" of the central bank. In a Truth Social post on Friday, Trump shared a video that suggested his tariffs aimed to hammer the stock market on purpose in a bid to force lower interest rates.

In a separate interview on NBC News's Meet the Press, US Treasury Secretary Scott Bessent downplayed the stock market drop and said there was "no reason" to anticipate a recession based on the tariffs.

Trump jolted economies around the world after he announced broad tariffs on US imports on Wednesday, triggering retaliatory levies from China and sparking fears of a globe trade war and recession.

On Sunday morning talk shows, top Trump officials sought to portray the tariffs as a savvy repositioning of the US in the global trade order and the economic disruptions as a short-term fallout.

US stocks have tumbled by around 10% in the two days since Trump announced a new global tariff regime that was more aggressive than analysts and investors had been anticipating.

It is a drop that market analysts and large investors have blamed on Trump's aggressive push on tariffs, which most economists and the head of the US Federal Reserve believe risk stoking inflation and damaging economic growth.

Tariff-stunned markets face another week of potential tariff turmoil, with fallout from Trump's sweeping import levies keeping investors on edge after the worst week for US stocks since the onset of the COVID-19 crisis five years ago.

Hassett told ABC News' "This Week" that Trump's tariffs had so far driven "more than 50" countries to contact the White House to begin trade talks.

Taiwan's President Lai Ching-te on Sunday offered zero tariffs as the basis for talks with the US, pledging to remove trade barriers rather than imposing reciprocal measures and saying Taiwanese companies will raise their US investments.

Unlike other economists, Hassett said he did not expect a big hit to consumers because exporters were likely to lower prices.

Bessent told NBC News he did not anticipate a recession based on the tariffs, citing stronger-than-anticipated US jobs growth.

"We could see from the jobs number on Friday, that was well above expectations, that we are moving forward, so I see no reason that we have to price in a recession," Bessent said.