Advertisement
Categories: NewsWorld

US, Saudi Arabia Finalise $142bn Defence, Investment Deals

Advertisement

During a regional tour to Riyadh, US President Donald Trump and Saudi Crown Prince Mohammed bin Salman signed a wide-ranging economic partnership agreement aimed at deepening bilateral ties.

The White House confirmed that defence agreements valued at $142 billion were concluded as part of the visit. In addition to military deals, Saudi Arabia will acquire $14.2 billion worth of gas turbines and place a $4.8 billion order for Boeing aircraft.

The agreement also includes the creation of a $5 billion energy investment fund and a separate $5 billion fund targeting innovation in aerospace and defence technologies.

In a move signalling broader ambitions, both countries will also launch a $4 billion global sports fund, further diversifying their economic cooperation beyond traditional sectors.

Advertisement
News Desk

Recent Posts

Blogging Tops Career Dreams for 42% of Youngsters: Kaspersky Survey

Kaspersky research findings show that 42% of children surveyed from the Middle East, Turkiye and…

20 hours ago

Foodpanda adds USD 1.2 bn to Pakistan’s economy: LUMS study

A groundbreaking study conducted by the Lahore University of Management Sciences (LUMS) has revealed that…

20 hours ago

Jazz’s Lead in Developing Pakistan’s First Indigenous LLM is Inclusive and Proactive

Jazz has been developing a Large Language Model (LLM) in collaboration with NUST and the…

3 days ago

PDA and Arid Agriculture University Sign MoU to Strengthen Industry-Academia Collaboration in Dairy Sector

Pakistan Dairy Association (PDA) and Pir Mehr Ali Shah Arid Agriculture University, Rawalpindi have signed…

2 weeks ago

ZTBL and PDA Forge Strategic Alliance to Drive Pakistan’s Dairy Sector Modernisation

Zarai Taraqiati Bank Limited (ZTBL) and the Pakistan Dairy Association (PDA) have signed a memorandum…

2 weeks ago

Trump Cites Five Jets Downed in India-Pakistan Clash, Credits U.S. with Preventing Nuclear Crisis

U.S. President Donald Trump said up to five fighter jets were brought down during the…

3 weeks ago