Latest news with #AlYamamahPalace
Trade Arabia
14-05-2025
- Business
- Trade Arabia
Saudi Arabia, US sign several major bilateral deals
Saudi Arabia's HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and President Donald J Trump of the US witnessed the signing of key agreements as they co-chaired the Saudi-US Summit at the Royal Court in Al-Yamamah Palace on Tuesday. The summit addressed bilateral relations and coordination efforts to enhance the strategic partnership between the two friendly countries across various sectors. Discussions also covered the latest regional and international developments, issues of mutual interest, and efforts to promote security and stability. HRH the Crown Prince and the US president signed the Strategic Economic Partnership between the governments of Saudi Arabia and the US. They also witnessed the exchange and announcement of the following bilateral agreements and memoranda: * A memorandum of understanding for energy cooperation between the Ministry of Energy of Saudi Arabia and the US Department of Energy, exchanged by Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and US Secretary of Energy Chris Wright. * A memorandum of intent for the modernisation and development of the capabilities of the Saudi Armed Forces through future defence capabilities between the Ministry of Defense of Saudi Arabia and the US Department of Defense, exchanged by Minister of Defense Prince Khalid bin Salman bin Abdulaziz and US Secretary of Defense Pete Hegseth. Announced also were the following: * A memorandum of cooperation in the field of mining and mineral resources between the Ministry of Industry and Mineral Resources of Saudi Arabia and the US Department of Energy. * A letter of intent to complete work and enhance joint cooperation on ammunition, training, support services, maintenance, systems modernisation, spare parts, and education for the Ministry of the National Guard's land and air systems. * A memorandum of understanding between the International Partnership Program of the Ministry of Interior and the Federal Bureau of Investigation (FBI) of the US Department of Justice. * A letter of intent between the Ministry of Defense of Saudi Arabia and the US Department of Defense regarding the development of the health capabilities of the Saudi Armed Forces. * A memorandum of understanding for judicial cooperation between the Ministry of Justice of the Kingdom of Saudi Arabia and the US Department of Justice. * An executive agreement between the Saudi Space Agency and the National Aeronautics and Space Administration of the US for cooperation on the Space Weather CubeSat on the Artemis II Mission. * A Customs Mutual Assistance Agreement. * A Protocol of Amendment to the Saudi Arabia-US Air Transport Agreement. * A memorandum of understanding for cooperation between the Saudi National Institute of Health Research and the US National Institute of Allergy and Infectious Diseases in the field of medical research on infectious diseases. * A collaboration agreement between the Royal Commission for AlUla and the Smithsonian Institute through its National Zoo and Conservation Biology Institute. * A collaboration agreement between the Royal Commission for AlUla and the Smithsonian Institute through its National Museum of Asian Art.
Emirates 24/7
14-05-2025
- Politics
- Emirates 24/7
Saudi Arabia, US sign Strategic Economic Partnership
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and US President Donald J. Trump of the United States co-chaired the Saudi-US Summit at the Royal Court in Al-Yamamah Palace today. Saudi Press Agency (SPA) said the summit addressed bilateral relations and coordination efforts to enhance the strategic partnership between the two friendly countries across various sectors. Discussions also covered the latest regional and international developments, issues of mutual interest, and efforts to promote security and stability. The Crown Prince and the US President signed the Strategic Economic Partnership between the governments of the Kingdom of Saudi Arabia and the United States of America. They also witnessed the exchange and announcement of the following bilateral agreements and memoranda: A memorandum of understanding for energy cooperation between the Ministry of Energy of the Kingdom of Saudi Arabia and the US Department of Energy. A memorandum of intent for the modernisation and development of the capabilities of the Saudi Armed Forces through future defense capabilities between the Ministry of Defense of the Kingdom of Saudi Arabia and the US Department of Defense. A memorandum of cooperation in the field of mining and mineral resources between the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia and the US Department of Energy. A letter of intent to complete work and enhance joint cooperation on ammunition, training, support services, maintenance, systems modernisation, spare parts, and education for the Ministry of the National Guard's land and air systems. A memorandum of understanding between the International Partnership Programme of the Ministry of Interior and the Federal Bureau of Investigation (FBI) of the US Department of Justice. A letter of intent between the Ministry of Defense of the Kingdom of Saudi Arabia and the US Department of Defense regarding the development of the health capabilities of the Saudi Armed Forces. A memorandum of understanding for judicial cooperation between the Ministry of Justice of the Kingdom of Saudi Arabia and the US Department of Justice. An executive agreement between the Saudi Space Agency of the Kingdom of Saudi Arabia and the National Aeronautics and Space Administration of the United States of America for cooperation on the Space Weather CubeSat on the Artemis II Mission. A Customs Mutual Assistance Agreement. A Protocol of Amendment to the Saudi Arabia-U.S. Air Transport Agreement. A memorandum of understanding for cooperation between the Saudi National Institute of Health Research and the US National Institute of Allergy and Infectious Diseases in the field of medical research on infectious diseases. A collaboration agreement between the Royal Commission for AlUla and the Smithsonian Institute through its National Zoo and Conservation Biology Institute. A collaboration agreement between the Royal Commission for AlUla and the Smithsonian Institute through its National Museum of Asian Art. Follow Emirates 24|7 on Google News.
Gulf Business
14-05-2025
- Politics
- Gulf Business
Saudi Crown Prince, US President Trump sign Strategic Economic Partnership
Image: Saudi Press Agency Saudi Crown Prince Mohammed bin Salman and US President Donald Trump co-chaired the Saudi-US Summit on May 13 at the Royal Court in Al-Yamamah Palace, where both leaders signed a Strategic Economic Partnership aimed at deepening bilateral cooperation across multiple sectors, according to the Saudi Press Agency ( The summit focused on enhancing the long-standing strategic partnership between the two countries, with discussions spanning regional and global developments, security and stability, and key issues of mutual interest. During the summit, Crown Prince Mohammed and President Trump oversaw the exchange and announcement of several key agreements and memoranda between Saudi and US government entities. Among the agreements was a memorandum of understanding for energy cooperation between Saudi Arabia's Ministry of Energy and the US Department of Energy, exchanged by Saudi Energy Minister Prince Abdulaziz bin Salman and US Energy Secretary Chris Wright. A memorandum of intent on defenc modernisation was exchanged between Saudi Defense Minister Prince Khalid bin Salman and US Secretary of Defense Pete Hegseth, outlining plans to upgrade the capabilities of the Saudi Armed Forces, SPA reported. List of Saudi-US agreements Further agreements announced included: A memorandum of cooperation in mining and mineral resources between Saudi Arabia's Ministry of Industry and Mineral Resources and the US Department of Energy. A letter of intent to enhance joint cooperation on ammunition, training, maintenance, and support services for the Saudi Ministry of the National Guard. A memorandum of understanding between the Saudi Ministry of Interior's International Partnership Program and the FBI under the US Department of Justice. A letter of intent on defense health capabilities between the Saudi and US defense ministries. A memorandum of understanding for judicial cooperation between the Saudi Ministry of Justice and the US Department of Justice. An executive agreement on space cooperation between the Saudi Space Agency and NASA for collaboration on the Space Weather CubeSat aboard the Artemis II Mission. A Customs Mutual Assistance Agreement and a Protocol of Amendment to the Saudi-US Air Transport Agreement. A memorandum of understanding on medical research between the Saudi National Institute of Health Research and the US National Institute of Allergy and Infectious Diseases. Two collaboration agreements between the Royal Commission for AlUla and the Smithsonian Institution, covering the National Zoo and Conservation Biology Institute, and the National Museum of Asian Read:
Arabian Business
13-05-2025
- Business
- Arabian Business
Donald Trump in Saudi Arabia as $600bn investment in US businesses announced
Donald Trump's visit to Saudi Arabia saw deals announced worth around $600bn as the Kingdom invests heavily in US businesses. Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and President Donald J. Trump of the United States co-chaired the Saudi-US Summit at the Royal Court in Al-Yamamah Palace. The summit addressed bilateral relations and coordination efforts to enhance the strategic partnership between the two friendly countries across various sectors. Discussions also covered the latest regional and international developments, issues of mutual interest, and efforts to promote security and stability. Donald Trump announces massive Saudi investments in US In addition to diplomatic talks there was a slew of multi-billion dollar business announcements. President Donald J. Trump announced Saudi Arabia's $600bn commitment to invest in the United States. The first deals under the announcement include security, defence industry, technology and infrastructure deals. The United States and Saudi Arabia signed a $142bn arms deal, which the White House dubbed as the 'largest defence sales agreement in history' to kick off the investment drive. The US Government said the deal will supply 'Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen US defence firms'. The sales fall into five broad categories: Air force advancement and space capabilities Air and missile defence Maritime and coastal security Border security and land forces modernisation Information and communication systems upgrades The package also includes extensive training and support to build the capacity of the Saudi armed forces, including enhancement of Saudi service academies and military medical services. The first stop of Donald Trump's four-day diplomatic tour to the Gulf states was aimed at securing big deals and spotlighting the benefits of Donald Trump's transactional foreign policy. US tech firms were other big winners as Saudi Arabia confirmed big deals for AI and technology companies during Donald Trump's visit. Oracle is accelerating investments in Saudi Arabia and has announced an investment of $14bn over the next 10 years to bring the cloud and AI technology to the Kingdom. The tech giant said the partnership will help improve the lives of the Saudi people, while bringing greater security and intelligence to the Kingdom, strengthening its sovereignty and deepening its alliance with the United States. Safra Catz, CEO of Oracle, said: 'Thanks to the decisive actions and strong leadership of President Trump and his administration, Oracle is providing the world's most advanced cloud and AI technology to Saudi Arabia. 'Our expanded partnership with the Kingdom will create new opportunities for its economy, deliver better health outcomes for its people, and fortify its alliance with the United States, which will create a ripple effect of peace and prosperity across the Middle East and around the world.' Nvidia said it will sell hundreds of thousands of AI chips in Saudi Arabia. The sales begin with more than 18,000 of its 'Blackwell' chips going to Saudi-backed AI startup Humain. Chip giant AMD also announced a deal with Humain, with a $10bn collaboration. DataVolt moving forward with plans to invest $20bn in AI data centres and energy infrastructure in the United States Google, DataVolt, Oracle, Salesforce, AMD, and Uber committing to invest $80bn in cutting-edge transformative technologies in both countries American companies including Hill International, Jacobs, Parsons, and AECOM building key infrastructure projects, including King Salman International Airport, King Salman Park, The Vault, Qiddiya City, and more, totalling $2bn in US services exports Additional major exports include GE Vernova's gas turbines and energy solutions worth $14.2bn and Boeing 737-8 passenger aircraft for AviLease totalling $4.8bn In the healthcare sector, Shamekh IV Solutions will invest $5.8bn, including a plant in Michigan to launch a high-capacity IV fluid facility Investment partnerships include several sector-specific funds with a strong emphasis on US deployment—such as the $5bn Energy Investment Fund, the $5bn New Era Aerospace and Defence Technology Fund, and the $4bn Enfield Sports Global Sports Fund
Asharq Al-Awsat
13-05-2025
- Business
- Asharq Al-Awsat
Mohammed bin Salman, Trump Chair Saudi-American Summit in Riyadh
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and US President Donald Trump chaired in Riyadh on Tuesday the Saudi-American summit that reviewed several joint files. The leaders then signed an economic strategic partnership agreement and oversaw the signing of several agreements between their countries in various fields. Prior to the meeting, Crown Prince Mohammed had welcomed Trump at the Royal Court in the Al-Yamamah Palace in Riyadh. An official reception ceremony was held, featuring an Arabian horse escort for the presidential motorcade, a trumpet fanfare, as well as the rendition of the American and Saudi national anthems. Following the ceremony, the Crown Prince escorted the president to the main reception hall, where both leaders enjoyed traditional Saudi coffee and exchanged greetings with members of each other's delegations. The Crown Prince subsequently hosted an official luncheon in honor of Trump. Trump had arrived in the Kingdom earlier on Tuesday on his overseas trip since his reelection. He will later visit the United Arab Emirates and Qatar.
