Latest news with #GulfTour
Khaleej Times
2 days ago
- Business
- Khaleej Times
UAE confirms will invest $1.4 trillion in US over 10 years during Trump visit
The UAE has announced it will invest 1.4 trillion in US over 10 years. Trump arrived in the UAE today as part of his three-country tour of the Gulf. He is the second US President to head to the Emirates. Abu Dhabi
Reuters
22-05-2025
- Business
- Reuters
Saudi Arabia settles lower, worst weekly performance in over a month
May 22 (Reuters) - Saudi Arabia's main stock index closed lower on Thursday, clocking its worst weekly performance in over a month, after official reports showed that crude oil exports in March declined. The kingdom's stock index (.TASI), opens new tab shed 1.02% on Thursday, underperforming its peers in the Middle East. It was down 2.5% for the week. Official data on Wednesday showed the country's crude oil exports in March fell to 5.754 million barrels per day from 6.547 million bpd in February. Oil prices, a catalyst for stock markets in the Gulf, also dropped by more than a percent after Bloomberg reported OPEC+ was discussing a production increase for July, which raised worries that global supply could exceed demand growth. O/R Dubai's benchmark index (.DFMGI), opens new tab snapped two consecutive sessions of decline, ending 0.26% higher. UAE-based insurer Dubai Insurance ( opens new tab was the top gainer on the index, jumping 15% to a near 21-year high. The index has been bolstered by a slew of business agreements between the U.S. and UAE announced last week during President Donald Trump's Gulf Tour. Elsewhere, the main stock indices in Abu Dhabi (.FTFADGI), opens new tab and Qatar (.QSI), opens new tab ended the session flat on Thursday. Qatar's benchmark index saw its biggest weekly rise since October 2024. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab, closed up 0.44% ahead of an expected rate cut by the country's central bank later on Thursday.
Arab News
17-05-2025
- Business
- Arab News
Strategic posturing in a multipolar world
US President Donald Trump's tour of the Gulf was far more than a ceremonial engagement. It was a choreographed exercise in strategic projection: part arms bazaar, part geopolitical theater, and part economic sales mission. The timing was critical. US influence in the Middle East is no longer a given, and the region's aspirations have outgrown their historical dependencies. With China extending its reach and Gulf monarchies pursuing bold visions of transformation, the visit tested Washington's continued relevance in a world increasingly defined by multipolarity. True to his brand as a dealmaker, Trump placed commerce at the center of his visit. Announcements of multibillion-dollar agreements dominated the headlines, ranging from expansive arms sales to Saudi Arabia and the UAE, to infrastructure investments, technology transfers, and fledgling partnerships in artificial intelligence and renewable energy. For Trump, the logic was straightforward: These deals promise jobs back home, project strength abroad, and reinforce his campaign narrative of economic nationalism and American exceptionalism. For Gulf states, Trump's visit reaffirmed their centrality to US strategic calculations. In a region where optics carry geopolitical weight, his presence underscored a clear message: The US is still engaged, and transactional loyalty remains a currency that yields dividends. Gulf leaders extracted more than symbolism. The visit aligned with their sweeping national agendas, from Saudi Arabia's Vision 2030 and the UAE's industrial diversification to Qatar's long-term investments in energy, education, and technology. Trump's endorsement provides political cover for these domestic overhauls, while insulating them from Western scrutiny. Yet this is not a return to Cold War binaries. Gulf capitals understand the precariousness of relying too heavily on American guarantees, particularly in an era of growing US isolationism. Their strategy is pragmatic: Hedge alliances, broaden partnerships, and deepen autonomy. Looming behind Trump's Gulf tour was the expanding shadow of China. Over the past decade, Beijing has embedded itself across the region, investing in ports, logistics, digital infrastructure, and energy supply chains. It offers rapid deployment of capital, infrastructure efficiency, and diplomatic noninterference — an attractive alternative to the conditionality of Western engagement. US President Donald Trump's tour of the Gulf was far more than a ceremonial engagement. It was a choreographed exercise in strategic projection. Dr. John Sfakianakis The Gulf is not forced to choose between Washington and Beijing. It is leveraging both to extract maximum strategic value. Trump's mission was not to displace China but to reassert America's competitive edge by offering what Beijing cannot: elite military capabilities, intelligence-sharing frameworks, and the legacy of long-term security cooperation. The defense and tech-focused agreements signed during this trip signaled a renewed American willingness to contest influence in the region, not relinquish it. One question haunts the cascade of contracts: How will Gulf states finance these commitments amid persistently low oil prices? Although regional economies have amassed significant sovereign wealth over the past two decades, fiscal pressure is mounting. Budget deficits are widening, subsidy cuts remain politically sensitive, and diversification efforts are still nascent in terms of revenue generation. The answer, for now, lies in the careful management of reserves, reprioritization of capital spending, and a bet that the return on strategic alignment with the US, in terms of security guarantees and investment access, will outweigh the short-term economic strain. But the risk is real; overextension, particularly in a volatile oil market, could jeopardize long-term fiscal stability and delay domestic reforms agendas. Although not headline news during the visit, energy politics remained a critical undercurrent. Military alliances and diplomatic alignment invariably shape oil-production strategies. A revitalized US-Gulf relationship could yield informal coordination on output policy, especially in moments of global economic turbulence. Yet the more profound shift is structural. Gulf economies are accelerating their transitions away from hydrocarbons, altering the very foundations of their relationships with the US. Investment, innovation and industrial collaboration are becoming the new pillars of engagement. This transition will redefine global capital flows, diminish the centrality of the petrodollar, and reshape energy diplomacy for decades to come. Tactically, the visit delivered results. Trump walked away with deals he can market as economic and diplomatic victories. Gulf leaders secured visibility, AI deals, investment, and a reaffirmation of their strategic relevance. But deeper uncertainties persist. Many agreements are aspirational or on the long-term horizon and could be derailed by future US policy reversals. Tying regional strategy too tightly to a single, polarizing figure risks instability should the American political landscape shift. More fundamentally, the visit did not reverse the trajectory of an increasingly multipolar world. The US is now one player in a crowded strategic arena that includes China, Europe, and a rising class of autonomous regional actors. Trump's Gulf visit reinvigorated a crucial relationship. But it did not end the game. That contest continues to unfold — in Washington, in Beijing, and in the Arab Gulf capitals of Riyadh, Abu Dhabi, and Doha.
Times of Oman
17-05-2025
- Business
- Times of Oman
Trump's Gulf visit signals potential shift in Middle East policy
Cairo: US President Donald Trump departed the United Arab Emirates (UAE) on Friday afternoon, concluding a lucrative four-day Gulf tour, which had also taken him to Saudi Arabia and Qatar. Despite expectations that Trump's visit could help calm the conflict in Gaza and ease regional tensions, the US president instead focused his Middle East visit primarily on economic gain, securing multi-trillion-dollar investment commitments from the three Gulf countries. Analysts believe that, by sidestepping the region's conflict zones and prioritising business deals, Trump's tour signals a potential pivot in US Middle East policy. Massive commercial deals defined Trump's Middle East tour. From the outset of his second term, Trump signalled that his first major foreign trip would emphasize promoting US economic interests. On his inauguration day in January, Trump stated he would choose Saudi Arabia as his first destination "if Saudi Arabia wanted to buy another $450, or $500 billion (worth of US products)." Upon arrival in Saudi Arabia on Tuesday, Trump secured an investment agreement with Crown Prince Mohammed bin Salman, locking in $600 billion in investments into the United States. Among the deals signed was "the largest defence sales agreement in history -- nearly $142 billion dollars," said a White House statement. Under this agreement, the United States will supply Saudi Arabia with "state-of-the-art warfighting equipment and services from over a dozen US defence firms." In Qatar, Trump cut a deal with the Gulf nation to generate "an economic exchange worth at least $1.2 trillion." He also secured commercial deals worth over $243.5 billion, including the sale of 210 US-made Boeing 787 Dreamliner and 777X jets to Qatar Airways, valued at $96 billion. In the UAE, the final stop of the trip, Trump announced $200 billion in bilateral commercial agreements, bringing "the total of investment agreements in the Gulf region to over $2 trillion," the White House noted. Trump's trip to the Middle East "is all about money," said Rodger Shanahan, a Middle East analyst at the Lowy Institute. "The Gulf states are a source of foreign investment for the United States of a size that makes for good announcements." "VAGUE ROLE" IN EASING TENSIONS Despite hopes that Washington would leverage its special ties with Israel to promote a ceasefire and reduce regional tensions, the United States has yet to take meaningful steps toward resolving Middle East conflicts. During Trump's visit, Israel continued large-scale airstrikes on Gaza, killing dozens daily. In Yemen, Houthi forces and Israel engaged in ongoing retaliatory attacks, while frequent Israeli military strikes against Lebanon resulted in casualties. Although the United States claimed to aim for Middle East peace, "the reality on the ground contradicts the US stated goals," said Mostafa Amin, an Egyptian researcher on Arab and international affairs. "The killings ... by Israel during Trump's visit raise serious questions about the sincerity of any US peace efforts." Further disappointment among Arab nations came from Trump's inflammatory remarks on occupying Gaza. At a roundtable with Qatari officials in Doha, he suggested the United States should "take" Gaza and reshape its future. "I think I'd be proud to have the United States have it, take it, make it a freedom zone," he said before reporters. "Let some good things happen, put people in homes where they can be safe, and Hamas is going to have to be dealt with." "He referenced peace only in the context of hostage releases," observed Amjad Abu al-Ezz, a political science professor at the Arab American University in the West Bank. "There was no mention of a ceasefire, de-escalation or even basic humanitarian corridors (in Gaza)." Trump did not hesitate to criticize Iran during his trip, calling it "the most destructive force" in the Middle East and accusing it of fueling regional instability. His remarks drew sharp rebukes from Iranian President Masoud Pezeshkian, further heightening already tense US-Iran relations. "Although Trump's visit yielded some economic gains, the United States has yet to present clear solutions to the underlying regional tensions," said Ali Johar, a UAE political analyst. By focusing solely on its economic interests and overlooking the concerns of regional populations, Washington appears to be drifting into a "vague role" in addressing the area's conflicts, Johar noted. POTENTIAL POLICY SHIFT Trump's trip not only overlooked Arab world concerns but also appeared to sideline Israel's sensitivities. Unlike his first presidential trip to the Middle East in 2017, Trump's latest visit excluded Israel from his itinerary. On the eve of his arrival, reports surfaced that the United States had even held direct talks with Hamas, culminating in the release of American-Israeli hostage Edan Alexander. "Skipping Israel was seen as a reflection of the deteriorating ties between the US administration and the government of Israeli Prime Minister Benjamin Netanyahu," noted an Al Jazeera analysis. While in the UAE, Trump acknowledged that "a lot of people are starving in Gaza," a rare statement interpreted as a sign of his growing frustration over Israel's prolonged military campaign. Analysts suggest Trump, known for his America-first, pragmatic stance, is losing patience with Israel. "For decades, Israel has leveraged its special relationship with the United States to serve as a gatekeeper to Washington," the Times of Israel wrote in an opinion piece, observing that many in Israel "worried that the best partner they've ever had in the White House had lost interest." This concern is not unfounded. Frederick Kempe, president and CEO of the Atlantic Council, said the Trump administration would rather "swim in a stream of Gulf investments than get bogged down in the region's enduring problems." Apparently, the United States is shifting its focus and policy priorities toward the Gulf region and the economic field, Kheir Diabat, a professor in the International Affairs Department at Qatar University, observed. "While economic cooperation is certainly beneficial for the region," Diabat added, "what the United States should prioritise now is taking its responsibility and helping restore stability to the Middle East."
CNA
16-05-2025
- Business
- CNA
UAE to up value of US energy investments to US$440 billion by 2035
DUBAI: The United Arab Emirates plans to raise its energy investments in the United States to US$440 billion in the next decade, it said on Friday (May 16), boosting US President Donald Trump's efforts to secure major business deals on a Gulf tour. The wealthy oil power's strategy, which aligns with global growth ambitions for its companies, was announced during a presentation by Abu Dhabi oil giant CEO Sultan Al Jaber to Trump during the last stage of the president's regional trip. The visit has drawn huge financial commitments to the US from the UAE, Saudi Arabia and Qatar. The enterprise value of UAE investments in the US energy sector will rise to US$440 billion by 2035 from US$70 billion now, Al Jaber told Trump, adding that US energy firms will also invest in the UAE. "Our partners have committed new investments worth US$60 billion in upstream oil and gas, as well as new and unconventional opportunities," Al Jaber said. The amount will be invested over the lifetime of projects, ADNOC said in a statement. Exxon Mobil and Japan's Inpex have agreed a deal to expand the capacity of Abu Dhabi's Upper Zakum offshore field, while Occidental Petroleum (Oxy) will explore boosting the capacity of the Shah gas field and EOG Resources has won an oil exploration concession in Abu Dhabi's Al Dhafra region. "The agreements reinforce the shared commitment of the UAE and US to maintaining global energy security and the stability of energy markets," ADNOC said. The US$440 billion value of UAE investments in the US was part of a US$1.4 trillion investment plan pledged to Washington, it added. That plan will "substantially increase the UAE's existing investments in the US economy" in AI infrastructure, semiconductors, energy, and manufacturing, the White House said in a statement. The two countries also agreed a deal that will give the UAE access to some of the most advanced artificial intelligence semiconductors from US companies, a major win for Abu Dhabi's efforts to become a global AI hub. "We see significant opportunities for further UAE-US partnerships across the energy-AI nexus, and we look forward to working with our American partners," Al Jaber said in ADNOC's statement. 'GREAT PROGRESS' "We're making great progress for the US$1.4 trillion that UAE has announced it intends to spend in the United States," Trump said in Abu Dhabi, his last stop on the tour that has focused on investment deals rather than security crises in the Middle East, including Israel's war in Gaza - at least publicly. "Yesterday the two countries also agreed to create a path for UAE to buy some of the world's most advanced AI semiconductors from American companies, a very big contract." Trump said the deal will generate billions of dollars in business and accelerate efforts by the UAE, an oil power and regional economic power, to become a major player in artificial intelligence. "And I read where - the oil and gas and all is great, but you're going to have equally big, and maybe even bigger - at some point, you'll be surpassing it with AI and other businesses," Trump told UAE officials on Friday during his visit. ADNOC's international investment arm XRG is seeking to make a significant investment in US natural gas, Al Jaber, who is also XRG's executive chairman and minister of industry and advanced technology, has said. XRG signed a framework deal with Oxy subsidiary 1PointFive to evaluate a potential investment in a direct air capture project in Kleberg County, Texas, and could commit up to a third of its development cost, ADNOC said in its statement. Other details of the US investment pledge were not disclosed. ADNOC has already transferred stakes in NextDecade's Rio Grande LNG export facility and a planned ExxonMobil hydrogen plant - both also in Texas - to XRG, which was set up last year. According to ADNOC, XRG, which is taking over Germany's Covestro and has agreed with Austria's OMV to merge their petrochemicals businesses Borouge and Borealis, has US$80 billion in assets. "The US is a top priority market for XRG," ADNOC said in its statement, adding the firm "is set to boost investments across the American energy value chain, focusing on expanding gas, LNG, specialty chemicals and energy infrastructure". Mubadala Energy, an arm of Abu Dhabi's second largest sovereign wealth fund, last month signed a deal with US firm Kimmeridge that will give it stakes in US gas assets.
