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US and Saudi Firms Leverage Trump’s Visit for Strategic Deals

File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)
File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)
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US and Saudi Firms Leverage Trump’s Visit for Strategic Deals

File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)
File photo shows Crown Prince Mohammed bin Salman and US President Donald Trump during the latter’s visit to the Kingdom (SPA)

In a high-stakes display of economic ambition, US and Saudi corporate leaders are seizing the opportunity presented by former President Donald Trump’s visit to Saudi Arabia on Tuesday to announce major deals and partnerships.

The visit coincides with the Saudi-US Investment Forum, drawing top American officials and executives, and highlighting Riyadh’s growing prominence on the global investment and trade stage.

Executives from both nations have confirmed the unveiling of a wide array of strategic collaborations in critical sectors including defense, aerospace, energy, artificial intelligence, and technology. The forum is expected to serve as a launchpad for initiatives that signal a new phase of intensified cooperation between the two countries.

The Saudi-US Investment Forum, convening in Riyadh, is addressing a broad agenda spanning energy and sustainability, finance, AI, manufacturing, aerospace, healthcare, and venture capital. Five senior US government officials and ten prominent American CEOs are participating, among a crowd of more than 2,000 influential attendees.

Among the notable American officials attending are US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and White House Advisor on AI and digital currencies David Sacks. Business leaders include Elon Musk of SpaceX and Tesla, Mark Zuckerberg of Meta, Larry Fink of BlackRock, Jane Fraser of Citigroup, Cristiano Amon of Qualcomm, Arvind Krishna of IBM, Stephen Schwarzman of Blackstone, Sam Altman of OpenAI, Kelley Otteberg of Boeing, Alex Karp of Palantir, and Ruth Porat of Google and Alphabet.

Neil Bush, Chairman of Sky Tower Global and a key figure in the green economy technology sector, emphasized the significance of Trump’s visit. He described it as a catalyst for real and impactful economic outcomes, referencing the Crown Prince’s commitment to investing $600 billion in the US.

Bush anticipates the forum will strengthen strategic ties and explore transformative opportunities in vital sectors. He stressed the forum’s role in connecting high-ranking officials, top business leaders, and global investors, all converging to exchange forward-looking ideas that promote technological and economic cooperation.

Former EPA Administrator and Trump cabinet member Edward Scott Pruitt said the visit will revitalize US-Saudi economic ties, especially in energy and technology, during a pivotal time of global energy transition. He pointed out that the forum offers fertile ground for strategic partnerships in AI, innovation, and next-generation energy. These collaborations, he said, will support the evolution of a resilient financial infrastructure and bolster industrial cooperation, setting a foundation for the future.

Abdullah bin Zaid Al-Meleihi, chairman of Saudi firm Al-Tamayuz, stated that Trump’s visit has triggered a surge of investor interest in launching new joint ventures. He emphasized the alignment of these partnerships with the Kingdom’s Vision 2030 initiative, which aims to diversify the economy beyond oil.

Al-Meleihi confirmed that the forum will introduce several new partnerships, particularly in defense, aerospace, and AI. His company plans to announce energy-related deals with US investors.

Al-Meleihi expects both Saudi and American business sectors to capitalize on Trump’s visit, which he described as opening unprecedented opportunities. He stressed that the visit marks a new chapter in economic cooperation, one that will deepen bilateral ties in advanced technologies and vital industries.

He concluded by highlighting the broader implications of this cooperation, particularly in localizing supply chains, developing data infrastructure, and building a high-tech, flexible industrial base.

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Business

UK Wage Growth Slows to Weakest in 5 Years

FILED - 17 February 2016, United Kingdom, London: A Job Centre Plus is pictured in this file photo from February 17, 2016. Photo: Philip Toscano/PA Wire/dpa
FILED - 17 February 2016, United Kingdom, London: A Job Centre Plus is pictured in this file photo from February 17, 2016. Photo: Philip Toscano/PA Wire/dpa
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UK Wage Growth Slows to Weakest in 5 Years

FILED - 17 February 2016, United Kingdom, London: A Job Centre Plus is pictured in this file photo from February 17, 2016. Photo: Philip Toscano/PA Wire/dpa
FILED - 17 February 2016, United Kingdom, London: A Job Centre Plus is pictured in this file photo from February 17, 2016. Photo: Philip Toscano/PA Wire/dpa

British wages rose at their slowest pace since late 2020 in the three months to January, according to official data which also suggested a weakening in employment might have bottomed out before the start of the war in the Middle East.

The figures would normally boost bets on the Bank of England cutting interest rates. But the central bank is widely expected to signal at 1200 GMT that it is waiting to see the impact of the war on Britain's economy before deciding its next move.

Yael Selfin, chief economist at KPMG UK, said Thursday's data would not change the BoE Monetary Policy Committee's immediate views.

"Priorities have shifted, with MPC members set to turn their attention to the new upside risks to the inflation outlook," she said. "This could see interest rates staying higher for longer, raising the prospect of a more pronounced loosening in the labor market over the coming months."

Last ⁠week ONS data ⁠showed zero growth in Britain's economy in January, but a surge in oil prices means an expected fall in inflation back towards its 2% target in April may prove more fleeting than the BoE had hoped.

The Office for National Statistics said regular earnings, which exclude bonuses, rose by 3.8% in the November-to-January period, the smallest increase since the three months to November 2020 and down from 4.1% in the final quarter of 2025.

Economists polled by Reuters had mostly expected regular pay growth of 4.0%. Total pay growth, which includes bonuses, showed a similar trend, slowing to 3.9%.

The ONS data also ⁠showed Britain's unemployment rate - which is calculated from a survey that the ONS is still overhauling - held at 5.2%, its highest since the COVID-19 pandemic period but below a median forecast in the Reuters poll for a rise to 5.3%.

Unemployment for 16-24 year olds - a key focus of government concern - edged down to 16.0% from an 11-year high of 16.1% in the final quarter of 2025.

Separate, more timely tax office data, also released on Thursday, showed the number of people in payrolled employment rose by a provisional estimate of 20,000 people between January and February.

In January, payrolls rose by a revised estimate of 6,000 compared with a provisional estimate of a fall of 11,000.

The latest data and revisions make it the first time that there have been three consecutive monthly rises in payrolled employment since May 2024.

"Today's labor market data will make for some positive reading. After nearly a year of disappointment, signs of stabilization are emerging," Sanjay Raja, ⁠chief UK economist at Deutsche ⁠Bank, said.

Until this month, the BoE had been trying to gauge whether lingering inflation heat in the labor market or a weakening of hiring in recent months posed the bigger risk to the economy.

But new inflation pressures have emerged, caused by the jump in energy prices after the start of the war in the Middle East.

The BoE is expected to keep borrowing costs on hold on Thursday at the end of the MPC's March meeting which, until recently, had been expected to result in a quarter-point rate cut.

The ONS data showed private sector annual regular wage growth - a measure of inflation heat closely watched by the BoE - slowed to 3.3% in the three months to January from 3.4% in the three months to December, also its weakest since late 2020.

Last month, the BoE said pay growth needed to be around 3.25% to keep inflation at its 2% target.

Deutsche Bank's Raja said the figures showed wage growth was slowing by slightly more than the BoE had forecast, offering some relief from the worries about a new energy price shock coming from the US-Israeli war on Iran.

"This, we think, can allow the MPC to remain cool-headed as we brace for another inflation wave - at least for now," he said.

Business

Morgan Stanley Joins Peers in Pushing Back Fed Cut Forecasts on Inflation Fears

FILE PHOTO: Morgan Stanley logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Morgan Stanley logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Morgan Stanley Joins Peers in Pushing Back Fed Cut Forecasts on Inflation Fears

FILE PHOTO: Morgan Stanley logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Morgan Stanley logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Morgan Stanley on Thursday joined Goldman Sachs and Barclays in pushing back its forecast for the US ​Federal Reserve's next interest rate cut to September from June after the central bank flagged inflationary risks amid the Middle East conflict.

The Wall Street brokerage now expects quarter-point reductions in September and December, revising its earlier forecast of reductions in June and September.

"In the near term, ‌higher energy prices ‌will push up overall inflation, ​but ‌it ⁠is ​too soon ⁠to know the scope and duration of the potential effects on the economy," Fed Chair Jerome Powell said in a press conference after the central bank kept interest rates unchanged on Wednesday.

New projections show that Fed policymakers as a ⁠group anticipate the Federal Open Market Committee ‌will cut the policy rate ‌by a quarter percentage point ​before the end ‌of the year, while major Wall Street firms ‌still expect two rate cuts.

"A cautious Fed means delay. The primary risk to our view remains that rate cuts come later or not at all," Morgan ‌Stanley strategists said in a note.
"In the other direction, a second-round surge ⁠in oil ⁠prices could mean activity and labor markets weaken, prompting cuts."

Oil prices have climbed above $100 a barrel due to the ongoing Middle East conflict that has led to the closure of the Strait of Hormuz, a key trade route that handles almost a fifth of the global oil trade.

Traders are currently pricing in over a 70% chance that the US central bank will ​hold rates steady ​in September, according to the CME FedWatch tool.

Business

Shell: Attack on Ras Laffan in Qatar Damaged Pearl GTL Facility

(FILES) This picture shows the Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital Doha, on February 6, 2017. (Photo by KARIM JAAFAR / AFP)
(FILES) This picture shows the Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital Doha, on February 6, 2017. (Photo by KARIM JAAFAR / AFP)
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Shell: Attack on Ras Laffan in Qatar Damaged Pearl GTL Facility

(FILES) This picture shows the Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital Doha, on February 6, 2017. (Photo by KARIM JAAFAR / AFP)
(FILES) This picture shows the Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital Doha, on February 6, 2017. (Photo by KARIM JAAFAR / AFP)

Shell said Wednesday's attack on Qatar's Ras Laffan Industrial City caused damage to the Pearl GTL (gas-to-liquids) facility, adding the fire was ⁠quickly put out, there ⁠were no reported injuries and Pearl is now in ⁠a "safe state.”

Shell has a 100% interest in Pearl GTL in Qatar, which has capacity to process up to 1.6 billion cubic ⁠feet ⁠per day of wellhead gas, converting it into 140,000 bpd of gas-to-liquids.