RIYADH: Saudi Arabia views the US as unmatched in both capital markets and innovation, with no close competitor, and continues to actively invest in American institutions, a senior official stated. 

Speaking during a panel discussion at the Milken Institute in Los Angeles, Saudi Investment Minister Khalid Al-Falih stated that the Kingdom continues to trust and engage with US-based partners as part of its long-term economic strategy.   

“There is no close competitor to the US in many aspects, certainly capital markets, their depth and their breadth, and also the innovation spirit,” Al-Falih said.   

He added that in the last three or four years, there has been widespread discussion about the next tectonic shift in “how we live and how we do business and how we govern, driven by AI, which is primarily a US innovation.”  

Al-Falih further emphasized the Kingdom’s continued engagement with American institutions: “Our trust in the US remains strong, and we continue to work with American companies and financial institutions. We also invest in the US for the same reasons I mentioned.” 

He acknowledged that while the global economic landscape is undergoing a transformation, the US continues to stand out for its ability to drive technological revolutions — particularly in artificial intelligence — and for its deep-rooted institutional strength.  

The minister noted that current shifts in global influence are part of a long-term trend that has seen emerging markets gain ground, with the G7’s share of global gross domestic product declining from 60 percent to 40 percent over the past decades. 

“There has been sort of a democratization of some of the things that, psychologically, Western countries — including the US — thought they had forever, and you’re seeing many countries today are able to innovate on their own and compete,” he said. 

Addressing broader geopolitical and economic turbulence, Al-Falih said Saudi Arabia and other Gulf Cooperation Council economies have developed the resilience to weather global shocks, including energy price volatility and regional disruptions such as the Red Sea shipping crisis. 

“In the Middle East, I will just say at this outset that we have built, over the years — for unfortunate reasons — a lot of resilience because we’re used to shocks. We’re used to security challenges, and we have the mechanisms to absorb different types of shocks,” Al-Falih said.  

Despite global uncertainties, he said the Kingdom continues to see robust investment growth — both local and foreign — driven by confidence in Saudi Arabia’s economic reforms and strategic positioning. 

“I can tell you, as minister of investment, we’re seeing very healthy investment continuing to happen in the Kingdom. A lot of it is local — driven by our private sector and our sovereign wealth fund — but a significant growth year on year from foreign investors who… do believe that, in the overall balance of things, there is more opportunity than risk,” he said. 

The minister concluded by emphasizing that the GCC, and Saudi Arabia in particular, offers favorable risk-return trade-offs for international investors seeking long-term opportunities. 

In January, Saudi Arabia announced plans to expand its trade and investment ties with the US to at least $600 billion over the next four years, according to the Saudi Press Agency.

LAHORE: Pakistan on Tuesday accused India of altering the flow of the Chenab River, one of three rivers placed under Pakistan’s control according to the now suspended Indus Waters Treaty.
This major river originates in India but was allocated to Pakistan under the 1960 Indus Waters Treaty, signed by the two nuclear powers.
India suspended the treaty following a deadly attack in Indian-administered Kashmir on April 22 that killed 26 people.
Islamabad warned that tampering with its rivers would be considered “an act of war.”
“We have witnessed changes in the river (Chenab) which are not natural at all,” Kazim Pirzada, irrigation minister for Punjab province, told AFP.
Punjab, bordering India and home to nearly half of Pakistan’s 240 million citizens, is the country’s agricultural heartland, and “the majority impact will be felt in areas which have fewer alternate water routes,” Pirzada warned.
“One day the river had normal inflow and the next day it was greatly reduced,” Pirzada added.
In Azad Kashmir, large quantities of water from India were reportedly released on April 26, according to the Jinnah Institute, a think tank led by a former Pakistani climate change minister.
“This is being done so that we don’t get to utilize the water,” Pirzada added.
The gates of the sluice spillways on the Baglihar dam in Indian-administered Kashmir which lies upstream of Pakistani Punjab “have been lowered to restrict water flow ... as a short-term punitive action,” a senior Indian official has told The Indian Express.
The Indus Waters Treaty permits India to use shared rivers for dams or irrigation but prohibits diverting watercourses or altering downstream volumes.
Indian authorities have not commented yet but Kushvinder Vohra, former head of India’s Central Water Commission, told The Times of India: “Since the treaty is on pause ... we may do flushing on any project without any obligation.”
Experts said the water cannot be stopped in the longer term, and that India can only regulate timings of when it releases flows.
However, the Jinnah Institute warned: “Even small changes in the timing of water releases can disrupt sowing calendars (and) reduce crop yields.”