INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Iran’s president welcomes invitation by Saudi king

Iran Foreign Minister Hossein Amir-Abdollahian. (AFP)
  • Riyadh cut relations after Iranian protesters attacked Saudi diplomatic missions in 2016 following the Saudi execution of Shiite cleric Nimr al-Nimr.
  • The two regional heavyweights announced on March 11 a Chinese-brokered deal to restore ties nearly seven years after they were severed.

TEHRAN, IRAN – Iranian President Ebrahim Raisi has “welcomed” an invitation from Saudi Arabia’s King Salman to visit the kingdom following the reconciliation deal between the two countries, an Iranian official said Sunday.

“In a letter to President Raisi… the King of Saudi Arabia welcomed the deal between the two brotherly countries (and) invited him to Riyadh,” tweeted Mohammad Jamshidi, the Iranian president’s deputy chief of staff for political affairs, adding that “Raisi welcomed the invitation”.

The two regional heavyweights announced on March 11 a Chinese-brokered deal to restore ties nearly seven years after they were severed.

Riyadh cut relations after Iranian protesters attacked Saudi diplomatic missions in 2016 following the Saudi execution of revered Shiite cleric Nimr al-Nimr – just one in a series of flashpoints between the two longstanding regional rivals.

The deal is expected to see Shiite-majority Iran and mainly Sunni Muslim Saudi Arabia reopen their embassies and missions within two months and implement security and economic cooperation deals signed more than 20 years ago.

Iranian Foreign Minister Hossein Amir-Abdollahian told reporters Sunday that the two countries had agreed to hold a meeting between their top diplomats.

He added that three locations for the talks had been suggested, without specifying which.

Several Gulf countries followed in Riyadh’s footsteps in 2016 cut off ties with Tehran, though the United Arab Emirates and Kuwait have recently restored ties.