Connect with us
[the_ad id="89560"]

Uncategorized

Saudi investment forum opens under haze of Khashoggi’s death

Published

5 minute read

RIYADH, Saudi Arabia — A high-profile economic forum in Saudi Arabia began on Tuesday in Riyadh, the kingdom’s first major event on the world stage since the killing of writer Jamal Khashoggi at the Saudi Consulate in Istanbul earlier this month.

Khashoggi’s death loomed large over the Future Investment Initiative forum and coincided with Turkish President Recip Tayyip Erdogan’s claim Tuesday that Saudi officials murdered Khashoggi in their consulate after plotting his death for days. The Turkish leader demanded the kingdom reveal the identities of all involved in the killing, regardless of rank.

Saudi Arabia, which for weeks maintained Khashoggi had left the consulate, on Saturday acknowledged he was killed there in a “fistfight.” Turkish media and officials say a 15-member Saudi team was flown in to kill Khashoggi and accosted the writer in the consulate, cutting off his fingers before killing and dismembering the 59-year-old Washington Post columnist who wrote critically about Saudi Crown Prince Mohammed bin Salman.

As the Riyadh conference opened, Saudi Energy Minister Khalid Al-Falih described the killing as “abhorrent” in his speech.

The forum kicked off without some of its keynote speakers after numerous Western executives and officials cancelled plans to attend over Khashoggi’s Oct. 2 slaying.

“As we all know, these are difficult days for us in the kingdom of Saudi Arabia,” Al-Falih said to attendees seated in the forum’s ornate hall.

“Nobody in the kingdom can justify it or explain it. From the leadership on down, we’re very upset at what has happened,” he added, referring to Khashoggi’s slaying.

The forum is the brainchild of Prince Mohammed and is aimed at drawing more foreign investment into the kingdom to help create desperately needed jobs for millions of young Saudis entering the workforce in the coming years.

International pressure is mounting against the prince, who did not attend the start of forum. Critics suspect the powerful crown prince ordered Khashoggi’s killing or at the least had knowledge of it.

Despite the absence of key executives and speakers from the United States and other Western partners, some $50 billion in deals were signed Tuesday at the forum with Russian and Asian businesses and officials eager to do business with the kingdom.

“Those partners who are here with us today to continue that journey with us are certainly going to look back and find out … how committed the kingdom is to its partners that stay the course,” Al-Falih said, just moments before several deals were inked on stage.

The forum last year grabbed headlines when Prince Mohammed wowed the crowd of global business titans with pledges to lead the ultraconservative kingdom toward “moderate Islam.” He also announced plans to build a $500 billion futuristic city in the desert.

At the time, Prince Mohammed spoke on stage alongside Stephen Schwarzman of U.S. private equity firm Blackstone.

Schwarzman is among those who’ve backed out of attending this year. Others include U.S. Treasury Secretary Steven Mnuchin, who met with Prince Mohammed separately before the forum, according to Saudi state television.

Among its many investments domestically and abroad, Saudi Arabia’s sovereign wealth fund, which the crown prince oversees, has invested $20 billion in a U.S.-focused infrastructure fund with Blackstone.

The Public Investment Fund has also invested $3.5 billion in ride-sharing firm Uber, whose CEO Dara Khosrowshahi also backed out of attending this year’s forum.

Lubna Olayan, a Saudi businesswoman moderating the forum’s first session Tuesday, opened with remarks about Khashoggi.

“As we gather here in Riyadh this morning, it is natural that our thoughts tend to focus on recent events surrounding the death of Jamal Khashoggi — a writer, a journalist and a Saudi journalist known to many of us,” said. “May he rest in peace.”

She added that such “terrible acts … are alien to our culture and DNA.” Some in the crowd applauded her remarks.

Directors of the Saudi, Russian and United Arab Emirates’ sovereign wealth funds took part in the opening panel. Pakistan’s Prime Minister Imran Khan headlined another session, with Jordan’s King Abdullah expected to speak at the forum on Wednesday.

“I think this conference will open the gateways to Asian and Russian investment in the Saudi economy regardless, irrespective if the crisis gets resolved or not,” said Ayham Kamel of Eurasia Group.

Aya Batrawy, The Associated Press



















Before Post

Storytelling is in our DNA. We provide credible, compelling multimedia storytelling and services in English and French to help captivate your digital, broadcast and print audiences. As Canada’s national news agency for 100 years, we give Canadians an unbiased news source, driven by truth, accuracy and timeliness.

Follow Author

Uncategorized

Poilievre on 2025 Election Interference – Carney sill hasn’t fired Liberal MP in Chinese election interference scandal

Published on

From Conservative Party Communications

Yes. He must be disqualified. I find it incredible that Mark Carney would allow someone to run for his party that called for a Canadian citizen to be handed over to a foreign government on a bounty, a foreign government that would almost certainly execute that Canadian citizen.

 

“Think about that for a second. We have a Liberal MP saying that a Canadian citizen should be handed over to a foreign dictatorship to get a bounty so that that citizen could be murdered. And Mark Carney says he should stay on as a candidate. What does that say about whether Mark Carney would protect Canadians?

“Mark Carney is deeply conflicted. Just in November, he went to Beijing and secured a quarter-billion-dollar loan for his company from a state-owned Chinese bank. He’s deeply compromised, and he will never stand up for Canada against any foreign regime. It is another reason why Mr. Carney must show us all his assets, all the money he owes, all the money that his companies owe to foreign hostile regimes. And this story might not be entirely the story of the bounty, and a Liberal MP calling for a Canadian to be handed over for execution to a foreign government might not be something that the everyday Canadian can relate to because it’s so outrageous. But I ask you this, if Mark Carney would allow his Liberal MP to make a comment like this, when would he ever protect Canada or Canadians against foreign hostility?

“He has never put Canada first, and that’s why we cannot have a fourth Liberal term. After the Lost Liberal Decade, our country is a playground for foreign interference. Our economy is weaker than ever before. Our people more divided. We need a change to put Canada first with a new government that will stand up for the security and economy of our citizens and take back control of our destiny. Let’s bring it home.”

 

Continue Reading

Uncategorized

Canada Needs A Real Plan To Compete Globally

Published on

From the Frontier Centre for Public Policy

By Marco Navarro-Génie 

Ottawa’s ideological policies have left Canada vulnerable. Strategic action is needed now

As Canada navigates an increasingly complex geopolitical landscape, the next federal government must move beyond reflexive anti—Americanism regardless of its political leanings. Instead, Canada should prioritize national interests while avoiding unnecessary conflict and subservience.

The notion that Canada can stand alone is as misguided as the idea that it is only an economic appendage of the United States. Both perspectives have influenced policy in Ottawa at different times, leading to mistakes.

Rather than engaging in futile name-calling or trade disputes, Canada must take strategic steps to reinforce its autonomy. This approach requires a pragmatic view rooted in Realpolitik—recognizing global realities, mitigating risks, governing for the whole country, and seizing opportunities while abandoning failed ideologies.

However, if Washington continues to pursue protectionist measures, Canada must find effective ways to counteract the weakened position Ottawa has placed the country in over the past decade.

One key strategy is diversifying trade relationships, notably by expanding economic ties with emerging markets such as India and Southeast Asia. This will require repairing Canada’s strained relationship with India and regaining political respect in China.

Unlike past Liberal trade missions, which often prioritized ideological talking points over substance, Canada must negotiate deals that protect domestic industries rather than turning summits into platforms for moral posturing.

A more effective approach would be strengthening partnerships with countries that value Canadian resources instead of vilifying them under misguided environmental policies. Expand LNG exports to Europe and Asia and leverage Canada’s critical minerals sector to establish reciprocal supply chains with non-Western economies, reducing economic reliance on the U.S.

Decades of complacency have left Canada vulnerable to American influence over its resource sector. Foreign-funded environmental groups have weakened domestic energy production, handing U.S. industries a strategic advantage. Ottawa must counter this by ensuring Canadian energy is developed at home rather than allowing suppressed domestic production to benefit foreign competitors.

Likewise, a robust industrial policy—prioritizing mining, manufacturing, and agricultural resilience—could reduce dependence on U.S. and Chinese imports. This does not mean adopting European-style subsidies but rather eliminating excessive regulations that make Canadian businesses uncompetitive, including costly domestic carbon tariffs.

Another key vulnerability is Canada’s growing military dependence on the U.S. through NORAD and NATO. While alliances are essential, decades of underfunding and neglect have turned the Canadian Armed Forces into little more than a symbolic force. Canada must learn self-reliance and commit to serious investment in defence.

Increasing defence spending—not to meet NATO targets but to build deterrence—is essential. Ottawa must reform its outdated procurement processes and develop a domestic defence manufacturing base, reducing reliance on foreign arms deals.

Canada’s vast Arctic is also at risk. Without continued investment in northern sovereignty, Ottawa may find itself locked out of its own backyard by more assertive global powers.

For too long, Canada has relied on an economic model that prioritizes federal redistribution over wealth creation and productivity. A competitive tax regime—one that attracts investment instead of punishing success—is essential.

A capital gains tax hike might satisfy activists in Toronto, but it does little to attract investments and encourage economic growth. Likewise, Ottawa must abandon ideological green policies that threaten agri-food production, whether by overregulating farmers or ranchers. At the same time, it must address inefficiencies in supply management once and for all. Canada must be able to feed a growing world without unnecessary bureaucratic obstacles.

Ottawa must also create an environment where businesses can innovate and grow without excessive regulatory burdens. This includes eliminating interprovincial trade barriers that stifle commerce.

Similarly, Canada’s tech sector, long hindered by predatory regulations, should be freed from excessive government interference. Instead of suffocating innovation with compliance mandates, Ottawa should focus on deregulation while implementing stronger security measures for foreign tech firms operating in Canada.

Perhaps Ottawa’s greatest mistake is its knee-jerk reactions to American policies, made without a coherent long-term strategy. Performative trade disputes with Washington and symbolic grandstanding in multilateral organizations do little to advance Canada’s interests.

Instead of reacting emotionally, Canada must take proactive steps to secure its economic, resource, and defence future. That is the role of a responsible government.

History’s best strategists understood that one should never fight an opponent’s war but instead dictate the terms of engagement. Canada’s future does not depend on reacting to Washington’s policies—these are calculated strategies, not whims. Instead, Canada’s success will be determined by its ability to act in the interests of citizens in all regions of the country, and seeing the world as it is rather than how ideological narratives wish it to be.

Marco Navarro-Génie is the vice president of research at the Frontier Centre for Public Policy. With Barry Cooper, he is co-author of Canada’s COVID: The Story of a Pandemic Moral Panic (2023).

Continue Reading

Trending

X