RIYADH / Reuters US and Saudi Arabian companies signed business deals worth tens of billions of dollars on Saturday during a visit by President Donald Trump, as Riyadh seeks help to develop its economy beyond oil. National oil firm Saudi Aramco said it signed $50 billion of agreements with US firms. Energy minister Khalid al-Falih said deals involving all companies …

Abu dhabi / WAM Mubadala Investment Company, the Abu Dhabi strategic investment fund, confirmed that it has made a US$15 billion commitment to the Softbank Vision Fund, a major technology and innovation focused fund, alongside a consortium of leading investors. The investors are joining forces to create value from the significant wave of technological change and innovation that is transforming …

Bloomberg OPEC officials gathering in Vienna to prepare for next week’s ministerial meeting kept their focus on rising US shale oil production, which has been diluting price impact of production cuts. National representatives from the OPEC and officials from several non-members heard a presentation on the outlook for the US industry from Roger Diwan, a Washington-based analyst at IHS Markit …

Jordan / Emirates Business During World Economic Forum on Middle East and North Africa, global digital transformation enabler SAP announced it will build skills and knowledge among young talents worth $100mn by 2022. The program is centered on public-private partnerships driving economic growth in MENA. Cloud, analytics, mobility, and social media skills are posting double or triple digital growth in …

Bloomberg Former FBI Director James Comey agreed to testify in open session before the Senate Intelligence Committee about the bureau’s probe into Russian meddling with the 2016 US election, intensifying Donald Trump’s troubles at the start of his first foreign trip as president. The announcement late Friday from committee Chairman Richard Burr, of North Carolina, and Vice Chairman Mark Warner, …

Bloomberg Hassan Rouhani won a second term as president of Iran, in a landslide victory seen as an endorsement of his efforts to steer the nation out of isolation through its landmark nuclear deal with world powers. Rouhani secured 57 percent of ballots cast in a first round of voting, Interior Minister Rahmani Fazli said at a news conference in …

Bloomberg Philippine President Rodrigo Duterte said China threatened to go to war after he asserted the Southeast Asian nation’s sovereignty over disputed territory. In an unspecified meeting with Chinese President Xi Jinping, Duterte said he will drill for oil in the South China Sea, citing an international arbitration tribunal ruling upholding the Philippines’ claim. That prompted a retort from Xi, …

Bloomberg German Chancellor Angela Merkel said she and French President Emmanuel Macron will seek to revive talks with Russian President Vladimir Putin on a cease-fire in eastern Ukraine. Speaking alongside Ukrainian President Petro Poroshenko during a meeting near Berlin, Merkel said Macron had backed the so-called Minsk peace process on Monday during the first visit to the German capital after …

Sharjah / WAM The Sharjah National Oil Corporation (SNOC), and the Sharjah Electricity and Water Authority (SEWA), have signed a full gas sales agreement, GSA, targeting the supply of natural gas for power generation in the emirate of Sharjah. The agreement was signed by Sheikh Sultan bin Ahmed Al Qasimi, Deputy Chairman of the Sharjah Petroleum Council and President of …

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai in his capacity as Ruler of Dubai, ordered the payment of a bonus amounting to AED33.285 million to Emirati citizens whose taxicab number plates are operated by the Dubai Taxi Corporation and Taxi Franchise Companies at the Roads and …