Saudi Arabia
Russia takes majority control of key Ukrainian city; Moscow calls U.S. weapons package ‘direct confrontation.’ Follow our live updates
Russian forces in control of most of Sieverodonetsk: U.K. Russia has made significant gains in a strategic city in Ukraine’s Donbas, the eastern-most city that was still under Ukrainian control and a last Ukrainian holdout in the Luhansk region. “Russia has taken control of most of Sieverodonetsk. The main road into the Sieverodonetsk pocket likely […]
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Thousands of people are leaving Hong Kong — and now it’s clear where they’re going
They stuck it out during the political protests of 2019. Then they lasted through nearly two years of pandemic. But this year, they say they’ve had enough. Residents of Hong Kong are leaving the city in droves in 2022 — not because they want to, several told CNBC, but because Covid restrictions and what they see […]
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Saudi fund in early talks to potentially buy Carnival’s ultra-luxury Seabourn brand
An aerial view of Seabourn Encore cruise ship docked at Bodrum Cruise Port on April 27, 2022, in Mugla, Turkey. Ali Balli | Anadolu Agency | Getty Images Carnival is in preliminary discussions to sell its Seabourn ultra-luxury cruise brand to the Saudi sovereign wealth fund, people familiar with the situation told CNBC. Talks between […]
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Saudi foreign minister says the kingdom’s hands are ‘stretched out’ to Iran
Saudi Arabia is seeing some progress on dialogue with its longtime adversary Iran, but not enough, the kingdom’s Foreign Minister Prince Faisal bin Farhan al-Saud told CNBC on Tuesday. In the meantime, the minister says it is eager to improve the two countries’ relationship. “In Saudi Arabia, and I think it’s the same in the […]
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EV maker Lucid to accelerate plans with its Saudi Arabia factory, its first outside the U.S.
U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. Javier Blas | Bloomberg | Getty Images U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced. The manufacturing facility will be able to produce 155,000 […]
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Lebanon holds first election since massive Beirut blast and financial collapse
A voter casts her ballot in Beirut. The parliament that will be formed by Lebanon’s election is expected to vote on long-delayed reforms required by the IMF to unlock financial support for the stricken country. Anwar Amro | Afp | Getty Images Polls opened on Sunday in Lebanon’s first election since the country’s economic collapse, […]
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Apple is no longer the world’s most valuable company
Tim Cook, CEO of Apple Inc. Adam Jeffery | CNBC Oil giant Saudi Aramco on Wednesday surpassed Apple as the world’s most valuable firm. Aramco’s market valuation was just under $2.43 trillion on Wednesday, according to FactSet, which converted its market cap to dollars. Apple, which fell over 5% during trading in the U.S. on […]
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Lucid reports 30,000 EV reservations and raises prices on its Air sedans
CEO Peter Rawlinson poses at the Lucid Motors plant in Casa Grande, Arizona, U.S. September 28, 2021. Caitlin O’Hara | Reuters Electric luxury vehicle maker Lucid Group said Thursday it now has more than 30,000 reservations for its Air sedan — but any customers making reservations after June 1 will have to pay higher prices. […]
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Op-ed: It’s time for the World Bank to get back to the business of doing business
The World Bank’s “Ease of Doing Business” report tracked and encouraged improvements in the business climate around the world. Then it got canceled. Bloomberg | Bloomberg | Getty Images The following commentary is co-authored by Curtis S. Chin, former U.S. ambassador to the Asian Development Bank and inaugural Asia Fellow of the Milken Institute, and […]
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Luxury EV maker Lucid scores order from Saudi government for up to 100,000 vehicles
With 1,050 horsepower, the new Grand Touring Performance edition becomes the most powerful version of Lucid’s electric Air sedan. Lucid Motors Lucid Group said that the government of Saudi Arabia has agreed to buy up to 100,000 of its electric vehicles over the next ten years. Saudi Arabia’s public wealth fund holds an approximately 62% stake […]
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