INSEAD Day 4 - 728x90

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Agthia profit, dividend jump

Transformation lifts earnings, cash generation.

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

Saudi Arabia says no Israel normalization without Palestinian state

(L to R) Israeli Prime Minister Benjamin Netanyahu and Saudi Crown Prince Mohammed bin Salman. AFP
  • Both US President Donald Trump and his predecessor Joe Biden have backed Israel and Saudi Arabia having diplomatic relations
  • Riyadh paused tentative talks on the matter early in the Gaza conflict and hardened its rhetoric as the war continued

Riyadh, Saudi Arabia – Saudi Arabia said Wednesday it will not formalize ties with Israel unless a Palestinian state is established, after Israel’s prime minister remarked that he thought normalisation with the Gulf kingdom was “going to happen”.

“Saudi Arabia will continue its relentless efforts to establish an independent Palestinian state with East Jerusalem as its capital, and will not establish diplomatic relations with Israel without that,” the Saudi foreign ministry said in a statement on X.

Both US President Donald Trump and his predecessor Joe Biden have backed Israel and Saudi Arabia having diplomatic relations.

Riyadh paused tentative talks on the matter early in the Gaza conflict and hardened its rhetoric as the war continued.

The foreign ministry’s statement came swiftly after Israeli Prime Minister Benjamin Netanyahu said establishing formal relations “is not only feasible, I think it’s going to happen”.

His government remains opposed to the internationally backed two-state solution.

Netanyahu was speaking at the White House alongside Trump, whose administration in 2020 brokered accords which saw Israel establish relations with the United Arab Emirates, Morocco and Bahrain.

That raised hopes of a similar deal with Saudi Arabia, the Arab world’s richest economy and guardian of Islam’s two holiest sites.

Saudi Arabia does not recognize Israel, but since 2020 has been negotiating rapprochement in exchange for a US defence pact and Washington’s help on a civilian nuclear programme.