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Tesla has announced plans to commence sales in Saudi Arabia next month, marking a significant expansion into the Gulf region’s largest market. The electric vehicle manufacturer will host a launch event in Riyadh on April 10 to showcase its lineup of electric vehicles and solar-powered products.

This development indicates a mending of relations between Tesla’s CEO, Elon Musk, and Saudi Arabia, following tensions that arose in 2018. At that time, Musk’s statement about securing funding to take Tesla private, allegedly involving Saudi Arabia’s Public Investment Fund , led to a dispute when the deal did not materialize. Subsequent legal proceedings revealed strained communications between Musk and PIF Governor Yasir al-Rumayyan. The recent rapprochement is highlighted by Musk’s virtual participation in Riyadh’s Future Investment Initiative summit and his appearance alongside al-Rumayyan and U.S. President Donald Trump at a high-profile event in New York.

The upcoming event in Riyadh will not only feature Tesla’s electric vehicles but also introduce innovations such as the autonomous driving technology “Cybercab” and the humanoid robot “Optimus.” While these products will be on display, the company has yet to announce their availability in the Saudi market.

Saudi Arabia’s electric vehicle sector is still in its early stages, with electric cars accounting for just over 1% of total car sales in 2024. Despite this, the kingdom has demonstrated a commitment to diversifying its automotive market. The PIF has invested over $1 billion in Lucid Motors, a competitor in the EV space, and is supporting the development of Ceer, a domestic electric vehicle brand.

Tesla’s entry into Saudi Arabia comes at a time when the company is facing challenges in other markets. In Europe, Tesla has experienced a 42.6% decline in sales this year, even as overall demand for electric vehicles grows. In the United States, the brand has been the target of protests related to Musk’s political engagements and his role in federal budget cuts.

The Saudi market presents both opportunities and challenges for Tesla. The nation’s expansive road networks and limited charging infrastructure, coupled with a consumer preference for large, gasoline-powered vehicles due to low fuel prices, may pose hurdles to widespread EV adoption. However, the government’s initiatives to promote electric vehicles and renewable energy align with Tesla’s mission, potentially facilitating the company’s growth in the region.

Abu Dhabi-based renewable energy company Masdar is exploring the acquisition of a stake in TotalEnergies’ renewable energy assets in Portugal, according to sources familiar with the matter. This potential investment underscores Masdar’s strategic expansion into the European renewable energy market as it strives to achieve a global renewable energy capacity of 100 gigawatts by 2030.

The discussions involve Masdar potentially leveraging Saeta Yield, a green energy company it acquired from Brookfield Renewable for $1.4 billion in September 2024, to facilitate the deal. Saeta Yield’s portfolio includes 745 megawatts of operational wind assets and a 1.6 GW development pipeline across Spain and Portugal, positioning it as a significant player in the Iberian renewable energy sector.

TotalEnergies currently operates approximately 600 MW of installed renewable capacity in Portugal, predominantly in wind energy, with additional solar and hydroelectric assets. The valuation of wind assets per megawatt is currently higher than that of solar, making this an attractive investment opportunity for Masdar. TotalEnergies has not commented on the potential stake sale.

Masdar’s interest in TotalEnergies’ assets aligns with its broader strategy to expand its presence in the Iberian Peninsula. In addition to the Saeta Yield acquisition, Masdar secured a minority stake in a 2 GW solar portfolio controlled by Spanish utility Endesa. The company is also in negotiations with Endesa to further expand their partnership, reflecting its commitment to the European renewable energy market.

These strategic moves are part of Masdar’s ambitious plan to scale up its renewable energy capacity globally. The company’s goal of reaching 100 GW by 2030 is supported by investments in various markets, with a significant focus on Europe. The acquisition of stakes in established renewable assets, such as those owned by TotalEnergies and Endesa, provides Masdar with a robust platform to achieve its expansion objectives.

The potential deal with TotalEnergies would not only enhance Masdar’s asset base but also strengthen its operational capabilities in managing wind energy projects. This is particularly pertinent given the higher valuation and demand for wind assets in the current market. By integrating TotalEnergies’ Portuguese assets, Masdar could optimize its portfolio and enhance its competitive position in the European renewable energy sector.

Masdar’s strategic acquisitions and partnerships in the Iberian Peninsula reflect a calculated approach to establishing a strong foothold in a region with abundant renewable energy resources. The company’s investments are aligned with the European Union’s commitment to increasing renewable energy production, offering Masdar opportunities for growth and collaboration within the European market.

As the global energy landscape shifts towards sustainable sources, Masdar’s proactive expansion into established and emerging renewable energy markets positions it as a key player in the transition to clean energy. The company’s strategic investments in Europe, particularly in the Iberian Peninsula, demonstrate its commitment to contributing to global renewable energy targets and addressing climate change challenges.

OPEC+ has announced a revised schedule for seven member nations to implement additional oil output cuts, aiming to compensate for previous overproduction. These measures are set to overshadow the planned production increases slated for next month.

The updated plan mandates monthly reductions ranging from 189,000 to 435,000 barrels per day , with the cuts extending until June 2026. This initiative seeks to address the excess output that has occurred despite the group’s ongoing efforts to stabilize the oil market.

Since 2022, OPEC+, which includes members of the Organization of the Petroleum Exporting Countries along with Russia and other allies, has been implementing output cuts totaling 5.85 million bpd, approximately 5.7% of global supply. These cuts were introduced in phases to support market stability amid fluctuating demand and geopolitical tensions.

Despite these efforts, certain member countries have exceeded their production quotas. Kazakhstan, for instance, has seen a significant production surge due to Chevron’s expansion at the Tengiz oilfield, leading to output levels surpassing its OPEC+ quota.

To address this imbalance, the new compensatory cuts will require substantial contributions from Iraq, Kazakhstan, and Russia, with Saudi Arabia also making smaller adjustments. These measures are designed to offset the previous overproduction and align the group’s output with agreed targets.

Concurrently, OPEC+ has decided to proceed with a modest production increase of 138,000 bpd starting in April, citing healthier market conditions. This marks the beginning of a series of monthly hikes intended to gradually restore a total of 2.2 million bpd over the next 18 months, following repeated delays since 2022.

However, the introduction of compensatory cuts raises questions about the net effect on global oil supply. The scheduled reductions are expected to more than offset the planned production hikes, potentially tightening the market further. This development comes amid new U.S. sanctions targeting Chinese entities involved in supplying Iranian oil, which have contributed to a recent uptick in oil prices.

As of Friday, Brent crude futures rose 0.3% to $72.21 per barrel, and U.S. West Texas Intermediate crude futures increased 0.4% to $68.32 per barrel. Both benchmarks were set to rise about 2% for the week, marking the largest weekly gains since early 2025.

The International Energy Agency has noted that increasing global trade tensions and new U.S. tariffs are negatively impacting oil demand and economic growth, creating uncertainty. The IEA revised its oil-demand growth estimates down to 1.03 million bpd from an earlier 1.1 million bpd, while OPEC projects higher growth at 1.45 million bpd.

With OPEC+ set to raise output beyond April and increased production in regions like Kazakhstan, Iran, and Venezuela, the IEA expects global oil supply to exceed demand, foreseeing a surplus of approximately 600,000 bpd. Total supply could average 104.5 million bpd by 2025, driven by non-OPEC+ production growth.

Asset management firm Ninety One Plc is increasing its investments in United Arab Emirates equities to mitigate exposure to the ongoing trade tensions initiated by U.S. President Donald Trump. The company’s emerging-markets equity team, overseeing $11 billion in assets, is targeting markets less affected by U.S. tariffs, according to co-portfolio manager Varun Laijawalla. This strategy includes acquiring shares in UAE-based companies such as Emaar Properties PJSC and Abu Dhabi Commercial Bank PJSC.

Emaar Properties, a leading real estate developer in the UAE, has experienced fluctuations in its stock performance. On March 14, 2025, the Dubai Financial Market index declined by 0.9%, influenced by losses in the real estate sector due to new tariff threats from President Trump. Emaar Properties and its construction subsidiary, Emaar Development, saw their shares decrease by 2.2% and 2.8%, respectively.

Despite these short-term declines, Emaar Properties has demonstrated resilience over the past year. The company’s stock has shown a 69.91% increase over the last 12 months, indicating strong growth potential.

Abu Dhabi Commercial Bank , another focus of Ninety One’s investment strategy, has also shown notable financial performance. In 2024, ADCB reported revenues of AED 16.61 billion, marking a 19.64% increase compared to the previous year’s AED 13.88 billion. Earnings for the same period reached AED 8.74 billion, reflecting an 11.80% increase.

The bank’s stock has been trading within a 52-week range of AED 7.61 to AED 12.60, with a market capitalization of approximately AED 76.67 billion.

Ninety One’s strategic move to invest in UAE markets aligns with its objective to find “uncorrelated markets” less susceptible to the adverse effects of U.S. tariffs. The firm, formerly known as Investec Asset Management, rebranded to Ninety One in 2020 to reflect its founding year and has since been listed on both the London and Johannesburg Stock Exchanges.

As of December 31, 2022, Ninety One managed approximately $159 billion in assets, offering a range of active strategies across equities, fixed income, multi-asset, and alternative investments.

The firm’s decision to bolster investments in the UAE comes amid broader market reactions to global trade tensions. On March 11, 2025, major Gulf markets experienced declines due to investor concerns over a potential U.S. recession triggered by widespread trade conflicts. The Saudi Arabian index fell by 1.3%, with significant decreases in Al Rajhi Bank and Saudi National Bank. Similarly, Dubai’s index decreased by 1.1%, affected by a 2.3% drop in Emaar Properties and a 1.9% decline in Emirates NBD.

However, by March 12, 2025, Gulf stock markets displayed mixed results amid hopes for a Ukraine ceasefire and ongoing concerns over U.S. tariffs. Dubai’s main index rose by 0.7%, led by gains in Emaar Properties and Dubai Islamic Bank, while Abu Dhabi’s index increased by 0.4%. Conversely, Saudi Arabia’s index experienced a slight decline of 0.1%.

The UAE’s economic environment presents opportunities for investors seeking markets less correlated with U.S. trade policies. Ninety One’s targeted investments in companies like Emaar Properties and ADCB reflect a strategic approach to navigating global trade uncertainties while capitalizing on the growth potential within the UAE.

Emaar Properties continues to be a significant player in the UAE’s real estate sector, with a market capitalization of AED 122.42 billion and a dividend yield of 7.22%. The company’s earnings per share stand at AED 1.53, and it is scheduled to release its next earnings report on May 8, 2025.

Abu Dhabi Commercial Bank maintains a strong presence in the UAE’s banking industry, with a public float of 2.91 billion shares. The bank’s robust financial performance and strategic initiatives position it well to navigate the challenges posed by global trade dynamics.

Ninety One’s emphasis on identifying investment opportunities in markets less affected by U.S. tariffs underscores its commitment to delivering value to its clients while mitigating risks associated with global trade tensions. By focusing on the UAE’s resilient sectors, the firm aims to achieve sustainable growth in an increasingly complex economic landscape.

Four Seasons Hotel Riyadh at Kingdom Centre has announced a unique collaboration for Ramadan 2025, partnering with esteemed fashion brands Art of Heritage and DAR AL HANOUF to offer guests an elevated cultural experience. This initiative showcases a fusion of traditional Saudi craftsmanship and contemporary design, reflecting the Kingdom’s rich heritage.

The collaboration commenced with an exclusive suhoor gala on March 8, held in the hotel’s prestigious Kingdom Suite. This two-storey suite, located on the 48th and 50th floors, provided panoramic views of Riyadh, offering an exquisite setting for the unveiling of the couture collection. The event was attended by VIP guests, including members of the royal family, who were treated to traditional oud music, enhancing the cultural ambiance of the evening.

Following the launch, private viewings and personalized fittings were available from March 9 to 11, allowing guests to acquire bespoke pieces tailored to their preferences. This exclusive opportunity to own handcrafted couture, designed with deep cultural significance, underscored the hotel’s commitment to offering unique experiences during the holy month.

Art of Heritage, led by CEO HRH Princess Nourah Bint Mohammed Al Faisal, has evolved over 25 years from a philanthropic initiative to a respected brand. Specializing in luxury handcrafted reproductions of traditional Saudi garments, jewellery, and household items, the brand draws inspiration from historical patterns and textiles across the Kingdom, adapting them for contemporary use. A portion of the proceeds from this collection will support community initiatives, aligning with the brand’s social responsibility efforts.

DAR AL HANOUF, founded by Alhanouf Mazen in 2012, is renowned for its couture creations that seamlessly weave cultural elements like Najd architecture, AlUla traditions, Hejaz roshans, and northern motifs into pieces reflecting both modern luxury and environmental consciousness. The 2025 collection presents modern cuts offering comfort and elegance, focusing on earthy tones that complement layers of silk chiffon and luxurious lace. These elements converge to form artistic pieces that express refined craftsmanship and creativity, melding metallic hues and hand-drawn illustrations—an exploration of polished sophistication that fuses the past with a bold, forward-looking perspective.

In addition to the fashion showcase, Four Seasons Hotel Riyadh has curated special suhoor experiences for its guests. The Kingdom Suite is available for private suhoor bookings, offering an intimate setting with expansive city views. Guests can enjoy a curated selection of regional delicacies and refreshing beverages crafted by the hotel’s culinary team, ensuring a memorable pre-dawn gathering.

Café Boulud, under the guidance of acclaimed French chef Daniel Boulud, has introduced its inaugural suhoor menu this Ramadan. The menu features innovative interpretations of traditional flavors, providing guests with a unique dining experience throughout the holy month. The café’s vintage-inspired setting, warm candlelight, and tranquil atmosphere make it an ideal space for quiet reflection or meaningful moments with loved ones.