Aramco signs up to $90 billion in US deals as Trump Gulf tour spurs flurry of tie-ups | Reuters

Aramco signs up to $90 billion in US deals as Trump Gulf tour spurs flurry of tie-ups | Reuters

Saudi Aramco (2222.SE), opens new tab unveiled 34 preliminary deals with major U.S. companies on Wednesday, potentially worth up to $90 billion in one of its broadest pushes to deepen commercial ties with the United States.

The agreements underscore Saudi Arabia’s efforts to strengthen its energy partnerships and attract foreign investment as it looks to balance oil dominance with broader industrial and technological growth under Vision 2030.

"The U.S. is really a good place to put our investment," Aramco CEO Amin Nasser said on Tuesday at the U.S.-Saudi Investment Forum in Riyadh. He was announcing deals with U.S. liquefied natural gas producer NextDecade (NEXT.O), opens new tab and utility company Sempra (SRE.N), opens new tab.

The event coincided with U.S. President Donald Trump's four-day tour of the Gulf, marked by lavish receptions and a series of business deals, including Saudi Arabia's $600 billion pledge to invest in the United States and $142 billion in arms agreements.

The $90 billion worth of agreements represent one of Aramco's largest single-day announcements with U.S. firms, reflecting the scale of the kingdom’s push to deepen strategic economic ties with Washington across energy, technology, and finance.

Aramco is the economic backbone of Saudi Arabia, generating the bulk of the kingdom's revenue through oil exports and funding its ambitious Vision 2030 diversification drive.

FLURRY OF DEALS
The company said the agreements, struck through its Aramco Group Companies, aim to build on its longstanding ties with U.S. companies, enhance shareholder value, and expand collaboration in energy and other strategic sectors.

A Memorandum of Understanding with tech heavyweight Nvidia (NVDA.O), opens new tab aims to establish advanced industrial AI infrastructure, including an AI Hub, an engineering and robotics centre, and workforce training programmes.

Aramco also signed an MoU with ExxonMobil (XOM.N), opens new tab to evaluate a significant upgrade to their SAMREF refinery, with plans to expand it into an integrated petrochemical complex.

Meanwhile, it inked a non-binding agreement with Amazon Web Services (AMZN.O), opens new tab to collaborate on digital transformation and lower-carbon initiatives, while a MoU with Qualcomm (QCOM.O), opens new tab focuses on collaboration in enhancing industrial networks and AI capabilities.

"Our U.S.-related activities have evolved over the decades, and now include multi-disciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement," Nasser said in a statement.

Aramco said on Tuesday it would invest $3.4 billion to expand the Motiva refinery in Texas.

Beyond energy, the state oil giant has become a key vehicle for industrial development, digital transformation, and foreign investment.

It expanded existing relationships with several high-profile U.S. suppliers including SLB (SLB.N), opens new tab, Baker Hughes (BKR.O), opens new tab, GE Vernova (GEV.N), opens new tab and Honeywell (HON.O), opens new tab.

On the financial services front, it has forged agreements with asset management giants PIMCO, State Street Corporation and Wellington.

It also signed a deal for short-term cash investments through a unified investment fund, named 'Fund of One', with financial heavyweights BlackRock (BLK.N), opens new tab, Goldman Sachs (GS.N), opens new tab, Morgan Stanley (MS.N), opens new tab and PIMCO.

US, #Qatar deals to generate $1.2 trillion in 'economic exchange', White House says | Reuters

US, Qatar deals to generate $1.2 trillion in 'economic exchange', White House says | Reuters

Agreements signed by U.S. President Donald Trump and Qatar's Emir Sheikh Tamim bin Hamad Al-Thani on Wednesday will "generate an economic exchange worth at least $1.2 trillion," the White House said in a fact sheet, opens new tab summarizing some of the deals' details.

The agreements include a $96 billion deal with Qatar Airways to buy up to 210 Boeing 787 Dreamliner and 777X airplanes with GE Aerospace engines, the fact sheet said. They also include a statement of intent that could lead to $38 billion in investments at Qatar's Al Udeid Air Base and other air defense and maritime security capabilities, it said.

#Saudi PIF strikes multibillion-dollar deals with top US asset managers | Reuters

Saudi PIF strikes multibillion-dollar deals with top US asset managers | Reuters

Saudi Arabia's sovereign wealth fund on Wednesday announced up to $12 billion in investment deals with top U.S. asset managers after a visit by U.S. President Donald Trump, underscoring the kingdom's growing appeal for Wall Street's titans.

The partnerships highlight a deepening alignment between Western financial groups and Gulf sovereign wealth funds, as both seek to capitalize on trillion-dollar opportunities in emerging technologies, finance, and cross-border capital flows.

Franklin Templeton said it signed a non-binding memorandum of understanding (MoU) with the kingdom's Public Investment Fund to partner in investing up to $5 billion in Saudi Arabia’s financial markets.

Neuberger Berman also agreed to a similar deal to invest up to $6 billion in the kingdom, and to launch a Riyadh-based multi-asset investment management platform, while Northern Trust Asset Management committed to up to $1 billion.

Infrastructure investment manager I Squared Capital said it has signed a MoU with PIF to establish a dedicated infrastructure investment strategy focused on the Middle East.

Saudi Arabia's PIF, one of the world's largest sovereign wealth funds with over $900 billion in assets, sits at the heart of Crown Prince Mohammed bin Salman’s economic transformation agenda.

The announcements came during Trump’s four-day tour of the Gulf, which has featured elaborate ceremonies and a wave of business agreements, including Saudi Arabia’s $600 billion investment pledge in the United States and $142 billion in arms deals.

RACE TO GROW
Saudi Arabia is in a race to secure more outside money to keep ambitious plans to diversify its economy on track. The country set itself a lofty target to attract $100 billion in annual foreign direct investment by the turn of the decade.

Riyadh has taken steps to try to encourage foreign firms to invest more in the country. The government in 2021, for example, said companies seeking to secure state contracts must set up their regional headquarters in Saudi Arabia.

"Through our global multi-asset investment platform and our local business expansion, we look forward to contributing to the domestic economy, building local teams," Neuberger Berman CEO George Walker said.

PIF has been increasing its focus on domestic investment as part of its commitment to the country's economic transformation plans.

It has ploughed hundreds of billions of dollars into the local economy, in everything from a camel dairy firm to NEOM, a gargantuan futuristic city in the desert.

The first day of Trump's visit to the kingdom, saw a number of U.S. technology firms, including sector heavyweights Nvidia (NVDA.O), opens new tab and Advanced Micro Devices (AMD.O), opens new tab announce artificial intelligence deals in the Middle East.

Several notable agreements were struck with Humain, an AI startup launched by PIF, earlier this week.

Most Gulf bourses settle flat, oil prices fall | Reuters

Most Gulf bourses settle flat, oil prices fall | Reuters

Most Gulf stock markets were unchanged at close on Wednesday after oil prices fell as investors looked for data about U.S. crude inventories amid worries of rising supply while stocks globally were steady as trade tensions seemed to ease.

Brent crude futures fell 64 cents, or around 1%, to $65.99 a barrel by 0934 GMT as traders anticipated a potential jump in U.S. crude inventories, with official data expected at 1430 GMT.

Stocks around the world took a breather after a strong rally on easing global trade tensions, after a U.S.-China truce.

Saudi Arabia's benchmark stock index (.TASI), opens new tab was unchanged at close.

A 9% surge in wholesale and retail trader Al Hokair (4240.SE), opens new tab offset a 5.43% fall in telecom provider Saudi Telecom (7010.SE), opens new tab and 5.38% fall in real estate firm Taiba Investment Company (4090.SE), opens new tab.

Dubai's main share index (.DFMGI), opens new tab settled 0.1% lower, Dubai National Insurance and Reinsurance (DNIN.DU), opens new tab logged losses for a second straight session, closing down 5.1%.

Qatar's benchmark stock index (.QSI), opens new tab closed up 0.08% with a 1.4% rise in milk producer Baladna (BLDN.QA), opens new tab offsetting a 1.3% fall in Qatar International Islamic.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab closed 0.4% higher. Beltone Financial Holdings closed up 3% after the financial services provider logged a 1.4% rise in quarterly net profit.