INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

US president confirms ‘possibility’ of Saudi Arabia trip

US President speaks from the Rehoboth Beach Convention Center on June 3, 2022. (AFP)
  • The reported decision came shortly after Saudi Arabia addressed two of Biden's priorities by agreeing to a production hike in oil
  • The trip would reportedly happen around the time Biden travels to a NATO summit in Spain and Group of Seven summit in Germany later this month

US President Joe Biden confirmed Friday he was considering a trip to Saudi Arabia. The New York Times and other US media, quoting anonymous sources, have reported that Biden would go ahead with the long-rumored Saudi stop during an upcoming overseas tour.

The reported decision came shortly after Saudi Arabia addressed two of Biden’s priorities by agreeing to a production hike in oil — which could help tame rocketing US inflation — and helping extend a truce in war-battered Yemen.

“I’m not sure whether I’m going,” Biden said when asked about reports of an imminent visit.

“There is a possibility that I would be going to meet with both the Israelis and some Arab countries at the time.”

“Saudi Arabia would be included in that if I did go, but I have no direct plans at the moment,” Biden told reporters.

CNN said that Biden would meet Saudi Arabia’s de facto ruler, 36-year-old Crown Prince Mohammed bin Salman.

The trip would reportedly happen around the time Biden travels to a NATO summit in Spain and Group of Seven summit in Germany later this month.

He is also widely expected to travel to Israel where, as in Saudi Arabia, he is sure to face pointed questions about slow-moving US diplomacy with the two countries’ rival, Iran.