MAM­MOTH DEALS WEL­COME TRUMP

US cor­po­ra­tions ink agree­ments worth hun­dreds of bil­lions of dol­lars

New Straits Times - - Business -

RIYADH

Saudi Ara­bia, the world’s big­gest oil ex­porter, is ea­ger to re­set re­la­tions with the new ad­min­is­tra­tion af­ter feel­ing shunned by for­mer pres­i­dent Barack Obama, who crafted the 2015 nu­clear deal with their ri­val Iran.

The king­dom is also em­bark­ing on plans to di­ver­sify its econ­omy away from oil — in­clud­ing the sale of a stake in Aramco — af­ter crude prices slumped.

Honeywell In­ter­na­tional Inc, Nabors In­dus­tries Ltd, Exxon Mo­bil Corp and Lock­heed Martin Corp were among other US com­pa­nies that signed ac­cords on Satur­day af­ter Amer­i­can cor­po­rate ti­tans met lo­cal busi­ness heads, here.

“Many of us sit­ting at the ta­ble are over­see­ing sub­stan­tial in­vest­ments in the US,” said En­ergy Min­is­ter Khalid Al-Falih on a panel at the in­au­gu­ral Saudi-US CEO Fo­rum that in­cluded Saudi bil­lion­aire Lubna Al-Olayan and Fi­nance Min­is­ter Mo­hammed AlJadaan. Bloomberg

AP PIC

United States Pres­i­dent Don­ald Trump at the Gulf Co­op­er­a­tion Coun­cil Sum­mit in Riyadh on Satur­day.

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