Trump to Be Guest of Honor at Saudi Arabia’s Future Investment Initiative Summit in Miami

Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)
Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)
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Trump to Be Guest of Honor at Saudi Arabia’s Future Investment Initiative Summit in Miami

Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)
Trump delivers a speech at last year's edition of the event. (Asharq Al-Awsat)

The Future Investment Initiative (FII) Institute announced that US President Donald Trump will participate as a guest of honor and speaker at the fourth edition of the “Priority Future Investment Initiative” summit in Miami, scheduled to be held from March 25 to 27.

Trump is scheduled to deliver a keynote speech in person during the summit's closing session on March 27. The appearance marks the second time Trump has addressed this international gathering of leaders, investors, and decision-makers on the platform, reflecting the growing strategic importance of this summit in global economic circles.

Trump's participation comes at a very sensitive time for the global economy, which is reeling under the weight of escalating energy crises and sharp jumps in oil prices that have exceeded the $100 mark.

The global audience in Miami will be waiting to see Trump's vision on how to manage these developments and his philosophy towards the movement of capital in light of current geopolitical conflicts.

In last year's edition, Trump reaffirmed that the golden age of the United States had officially begun, considering the economic progress that had occurred since he took office to be "amazing."

This year's summit is being held under the slogan "Capital in Motion," where it seeks to explore how capital moves, adapts, and leads in a rapidly fragmenting world.

The agenda focuses intensively on the role of investment, technology, and policies in achieving sustainable and inclusive growth, while highlighting Latin America region and the Americas as a center of the current global transformation.

The summit brings together an elite group of senior officials, investors, and innovators, and prominent from the Saudi side is a high-level presence that includes the Governor of the Public Investment Fund and Chairman of the Board of Directors of the Future Investment Initiative Foundation Yasir Al-Rumayyan, Minister of Finance Mohammed Al-Jadaan, Minister of Tourism Ahmed Al-Khateeb, and the Ambassador of the Custodian of the Two Holy Mosques to the United States, Princess Reema bint Bandar Al Saud.

The list of speakers also includes prominent names, such as Steve Witkoff, the US envoy to the Middle East, and Dina Powell McCormick, Vice President of Meta, in addition to the participation of Donald Trump Jr.

The slogan of the fourth edition, "Capital in Motion," reflects an accelerated global reality that knows no stillness, where resources, talents, and ideas flow across borders, industries, and technologies at an unprecedented pace. In light of slowing global growth, persistently high interest rates for longer, and sharp geopolitical rifts, the summit is redrawing the map of investment returns.

The summit is expected to attract more than 1,500 delegates from around the world, forming an economic bridge linking the Middle East, the United States, and the emerging Latin American markets.



UK Economy Shrinks in April as Middle East War Hits

People hold umbrellas in Piccadilly Circus, in London, Thursday, June 11, 2026.(AP Photo/Alberto Pezzali)
People hold umbrellas in Piccadilly Circus, in London, Thursday, June 11, 2026.(AP Photo/Alberto Pezzali)
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UK Economy Shrinks in April as Middle East War Hits

People hold umbrellas in Piccadilly Circus, in London, Thursday, June 11, 2026.(AP Photo/Alberto Pezzali)
People hold umbrellas in Piccadilly Circus, in London, Thursday, June 11, 2026.(AP Photo/Alberto Pezzali)

Britain's economy contracted in April as the Middle East war hit growth, official data showed Friday, dealing a setback to Prime Minister Keir Starmer as he grapples with a fresh political crisis.

Gross domestic product fell 0.1 percent in April following growth of 0.3 percent in March, the Office for National Statistics said in a statement.

Britain's defense and armed forces ministers quit Thursday in a row over military spending, piling pressure on Starmer who is facing calls to step down.

Defense Secretary John Healey resigned warning that Starmer's long-awaited Defense Investment Plan (DIP) for funding over the next decade -- which the leader has yet to publish -- risked making Britain "less safe.”

In the evening Al Carns became the second senior figure in defense to quit, resigning as armed forces minister, along with Healey aide Pamela Nash.

The resignations weaken Starmer's authority at a precarious moment, a week before a by-election that could prompt a bid to replace him.


Iran’s Oil Production Slumped Due to US Blockade, Closure of Hormuz

The logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
The logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
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Iran’s Oil Production Slumped Due to US Blockade, Closure of Hormuz

The logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)
The logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. (Reuters)

Iran's oil supplies have registered a sharp decline since the tightening of the US naval blockade and the near-total closure of the Strait of Hormuz, which has also paralyzed the movement of oil and slashed exports by Gulf producers, the monthly report of the Organization of the Petroleum Exporting Countries (OPEC) revealed on Thursday.

Iran’s crude oil production slumped by 19% last month, according to data from OPEC, while the US blockaded the country’s ports during their ongoing conflict.

Iran was the primary contributor to last month’s sharp decline. The cartel reported that Iranian output fell by 19%, or 546,000 barrels, to 2.33 million.

The blockade of the Strait of Hormuz has also affected collective regional figures. Crude oil production by OPEC declined by 177,000 barrels per day (bpd) in May compared with April, driven mainly by a sharp drop in Iranian output, while the group maintained expectations for stronger global oil demand growth in 2026.

Total OPEC crude production averaged 33.13 million barrels per day in May, down by 185,000 daily barrels from the previous month.

The 11-member group trimmed its forecast for global oil demand growth this year to 970,000 barrels per day, citing geopolitical conflict in the Middle East. OPEC had predicted 1.17 million barrels in the previous report.

Meanwhile, OPEC maintained an optimistic outlook for the near future, betting that post-shock energy demand will rapidly rebound.

It raised its 2027 global oil demand growth forecast to 1.73 million bpd, up from the previous projection of 1.54 million bpd.

OPEC's June 2026 monthly report described the global economy's first-half performance as resilient despite the geopolitical environment, leaving its macroeconomic growth forecasts unchanged alongside the demand revision.


Oil Extends Losses as Trump Calls Off Planned Strikes on Iran

FILE PHOTO: A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025.  REUTERS/Eli Hartman/File Photo
FILE PHOTO: A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo
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Oil Extends Losses as Trump Calls Off Planned Strikes on Iran

FILE PHOTO: A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025.  REUTERS/Eli Hartman/File Photo
FILE PHOTO: A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, US February 18, 2025. REUTERS/Eli Hartman/File Photo

Oil prices fell over $1 on Friday, extending losses from the previous session after US President Donald Trump cancelled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week.

Brent futures fell $1.83 or 2% to $88.55 a barrel at 0410 GMT, while US West Texas Intermediate (WTI) crude dropped $1.60, or 1.8%, to $86.11.

Trump, who had threatened to hit Iran "very hard", called off planned strikes on Thursday, saying discussions with ‌Iran had progressed and ‌a peace deal that would reopen the Strait ‌of Hormuz ⁠to shipping could ⁠be signed as soon as this weekend. Iran's semi-official Fars news agency reported that Tehran had not approved the text of any agreement.

"While this could, of course, be yet another false dawn, the market's reaction has been both swift and decisive," said IG market analyst Tony Sycamore.

He added that even as oil prices correct downwards, "as long as the price can hold above support in the low $80s, the ⁠risks remain firmly skewed to the upside."

On Thursday, Iran announced "the ‌closure" of the Strait of Hormuz, through which ‌vessel traffic was already severely limited, saying it would fire on any ship trying ‌to pass through the waterway. The strait normally carries a fifth of global ‌oil and liquefied natural gas shipments and Tehran's months-long blockade has kept energy prices elevated.

State media reported on Friday that Iranian forces prevented a tanker from transiting the Strait of Hormuz without coordination.

The US military said on social media that commercial ships continued to transit ‌the waterway.

"We would be cautious about assuming that the extension of the ceasefire is a done deal. Even ⁠if it is, ⁠it could be fragile. And clearly, if nuclear talks do not progress, it could very easily fall apart," said ING analysts in a Friday note.

"We believe the market reaches an inflection point in late July if we do not see oil flows resuming before then. This is when inventory levels and seasonally stronger demand push prices significantly higher towards $120-130 per barrel."

The Organization of the Petroleum Exporting Countries (OPEC) on Thursday lowered its forecast for 2026 world oil demand growth to 970,000 barrels per day (bpd) from a previous 1.17 million bpd, marking its second straight downward revision.

The producer group also said consumption would rebound later, raising its demand growth forecast for 2027. It expects 2027 oil demand to rise by 1.73 million bpd, up 190,000 bpd from its previous forecast.