President Trump announced the change in US policy during his speech at a Saudi investment forum, kicking off the first major international trip of his second term.

The Middle East and North Africa (Mena) region’s capital markets kicked off 2025 with a strong performance, recording 14 initial public offerings (IPOs) that raised $2.4 billion in Q1, a 106 per cent increase in proceeds compared to Q1 2024.

Saudi Arabia has held off formally joining the BRICS bloc of nations despite attending a meeting in Brazil last week, two sources said, finessing an issue that could upset Washington as Riyadh seeks to seal deals with its U.