New York Looks Forward to Sharing Financial Expertise with Saudi PIF

Commissioner of the New York City Mayor's Office for International Affairs Edward Mermelstein (Asharq Al-Awsat)
Commissioner of the New York City Mayor's Office for International Affairs Edward Mermelstein (Asharq Al-Awsat)
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New York Looks Forward to Sharing Financial Expertise with Saudi PIF

Commissioner of the New York City Mayor's Office for International Affairs Edward Mermelstein (Asharq Al-Awsat)
Commissioner of the New York City Mayor's Office for International Affairs Edward Mermelstein (Asharq Al-Awsat)

Edward Mermelstein, the Commissioner of the New York City Mayor’s Office for International Affairs, revealed a common desire to maximize the financial expertise of the Saudi Public Investment Fund (PIF) in New York, the US economic and commercial capital.

On his first visit to Saudi Arabia, Mermelstein said there is anticipation for building governmental, social, and economic bridges between New York and the Kingdom.

Regarding Saudi investment in the US and New York, Mermelstein told Asharq Al-Awsat: “The investment trend between Saudi Arabia and the US has remained constant in general.”

“Previous data issued by the US government showed that the Kingdom is among the 30 largest trade and investment partners of the US,” added Mermelstein.

According to Mermelstein, the trade and investment relationship between Washington and Riyadh, worth $54 billion, creates thousands of jobs in both countries.

In 2020, US goods exports to Saudi Arabia exceeded $10.9 billion, and US imports were just over $9 billion, according to the US Census Bureau.

“Generally, we are witnessing a very high demand for investment in New York City from the GCC countries,” said Mermelstein.

“This is primarily due to the strong relations between the two parties, as well as the economic and political instability in other popular investment areas in other parts of the world, which have recently fallen out of favor,” he added.

Saudi Arabia’s PIF intends to open an office in New York. This was welcomed by Mermelstein, who said: “Our management prides itself on being business-friendly and welcomes international investment in our city.”

“Our management is certain that the Saudi fund will have great financial experience in New York City,” he added.

“Foreign direct investment helps cities and countries boost their economies,” noted Mermelstein, adding that New York also seeks to work with stakeholders to ensure that investment is mutually beneficial for all parties.

Mermelstein stressed that the trade and investment relationship between the US and Saudi Arabia is reflected in the numbers.

“According to the Department of Commerce, US exports of goods and services to Saudi Arabia also maintained an estimated 165,000 jobs in 2015, of which 101,000 were related to commodity exports, and 63,000 were related to service exports,” revealed Mermelstein.

On opportunities for cooperation between New York and Riyadh, Mermelstein said: “New York City is a global city. We have a strong and resilient economy. When meeting with global partners, we discuss various topics of mutual interest.”

“As a city, we are investing to help our youth become global citizens with a strong understanding of global affairs,” he added.

“We worked with our global counterparts to identify ways in which our students can connect and learn about perspectives.”

“In terms of economic development, we are well positioned as a welcoming city for international companies looking to grow globally.”



Apple Expands its Presence in Saudi Arabia with Launch of Arabic Online Store  

A concept image of the Apple Store. (Asharq Al-Awsat)
A concept image of the Apple Store. (Asharq Al-Awsat)
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Apple Expands its Presence in Saudi Arabia with Launch of Arabic Online Store  

A concept image of the Apple Store. (Asharq Al-Awsat)
A concept image of the Apple Store. (Asharq Al-Awsat)

Apple has officially launched its online store in Arabic for customers in Saudi Arabia, marking a significant step in the company’s expansion strategy for the region. The move also aligns with its plans to open a physical retail store in the Kingdom as part of a broader effort to deepen its regional presence.

According to Deirdre O’Brien, Senior Vice President of Retail and People at Apple, this step reflects the company’s growing commitment to Saudi Arabia and its rapidly expanding customer base.

The Arabic-language store is now accessible through Apple’s website and via the Apple Store app on smart devices.

In an interview with Asharq Al-Awsat, O’Brien expressed strong enthusiasm about bringing the Apple retail experience to Saudi Arabia. She emphasized the company’s longstanding presence in the Kingdom and noted that Saudi customers are deeply passionate about Apple products. This launch, she said, will help strengthen Apple’s direct relationship with communities across the country.

She also explained that both the online store and the upcoming physical location are part of Apple’s broader strategy in the Middle East. The company already operates several retail locations in the United Arab Emirates and continues to see strong demand for its products across the Gulf.

Investing in local economy

When asked about Apple’s investment in the Saudi economy, O’Brien pointed to initiatives such as the Apple Developer Academy, which is focused on nurturing and empowering local talent.

She described the company’s investment as one that aims to inspire individuals and support creativity. By combining Apple’s technology with passionate communities, she said, remarkable things can be achieved.

Apple has tailored the online store to meet the specific needs of Saudi customers. Features include live chat with Apple specialists in Arabic, customizable product options for devices like Mac and Apple Watch, and the ability to engrave AirPods and other accessories in Arabic or with emojis.

O’Brien highlighted the importance of making the full Apple experience accessible to customers in Saudi Arabia both online and in-store. She also noted that Apple offers device trade-in programs to accommodate users from different segments.

With e-commerce on the rise in Saudi Arabia, Apple is aiming to deliver a seamless shopping journey that blends both digital and physical experiences. O’Brien stated that Apple’s retail model has been designed to reflect modern shopping behavior, where customers move easily between online and in-store interactions. Whether a purchase begins online and ends in a store, or vice versa, Apple aims to provide consistent, high-quality support throughout.

Landmark store in Riyadh

Apple’s first physical store in Saudi Arabia is set to open in Diriyah, a UNESCO World Heritage site and a prominent cultural destination in Riyadh.

O’Brien described Diriyah as a unique and special location. She said Apple is committed to ensuring each of its stores reflects the local identity and culture, and that the new store in Saudi Arabia will be no exception.

She encouraged local customers to visit once the store opens, expressing confidence that the experience will be both unique and memorable.

Retail services

Apple is continuing to strengthen its presence in Saudi Arabia by focusing on innovation, engaging more closely with the local community, and delivering a retail experience designed to support and serve users throughout the Kingdom.

The new Arabic online store allows Saudi customers to browse and purchase Apple’s full product lineup. The experience is personalized, offering product recommendations based on the customer’s current devices. Customers can also compare models, access saved items, and track orders directly through the app.

For the first time, Apple is offering free consultations in Arabic and English through the Saudi store website. These sessions allow users to personalize products like AirPods, Apple Pencil, and AirTag with Arabic or English text and numbers, enhancing the individuality of each device.

Apple’s retail offering also includes pre-purchase support through chat and phone to help users find the best product for their needs. Post-purchase, the company provides services like personalized setup, secure data transfer for those switching to iOS, and eSIM activation.

As part of its long-term strategy, Apple has announced plans to open its first flagship retail store in Saudi Arabia by 2026. This store will be the first in a broader rollout of retail locations across the Kingdom.