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United States Foreign Investments Saudi Arabia

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NEWS
November 12, 1989 | JEFFREY L. RABIN and WILLIAM C. REMPEL, TIMES STAFF WRITERS
Saudi Arabian businessmen and arms brokers with close ties to the royal family head a group of Middle Eastern investors who secretly acquired a major stake in leases on public land in Marina del Rey, The Times has learned.
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BUSINESS
September 30, 1998 | DAVID B. OTTAWAY and MARTHA M. HAMILTON, WASHINGTON POST
Nearly two decades after driving U.S. oil companies out, Saudi Arabia, the world's largest petroleum producer, has opened discussions about inviting them back to help develop the kingdom's energy resources, according to industry and government sources. The unexpected overture came from Crown Prince Abdullah ibn Abdulaziz during an hourlong private meeting Saturday in McLean, Va., with senior executives from seven American oil companies, sources said.
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BUSINESS
June 15, 1993 | From Times Staff and Wire Reports
Disney to License Products in Saudi Arabia: Walt Disney Co. said it has reached a joint venture agreement to license its products through Saudi Arabia-based CTC Consumer Products, a division of Contracting & Trading Co. Under the agreement, CTC Consumer Products will be the exclusive licensee for Disney products for Saudi Arabia and will later be allowed to move into the other Persian Gulf states.
BUSINESS
April 12, 1995 | By JUDITH EVANS, NEWSDAY
A billionaire Saudi prince and a Singapore-based hotel chain have reached a tentative agreement to buy a controlling stake in the Plaza Hotel, further reducing Donald Trump's role in what was once one of his favorite trophies. Prince Alwaleed bin Talal bin Abdulaziz al Saud and CDL Hotels said Tuesday that they will spend $28 million to renovate the hotel over the next two years and inject another $75 million to pay down a portion of the hotel's $300 million mortgage within three years.
NEWS
June 28, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Fluor Daniel, the engineering and construction arm of Fluor Corp., Wednesday landed what appears to be the largest contract in Fluor's 78-year history--estimated by sources to be worth $6 billion--to oversee expansion of petroleum facilities for Saudi Arabia. Fluor Chief Executive Les McCraw called the pact "prospectively, the most significant project we've had in over a decade."
BUSINESS
November 11, 1988 | From Reuters
Saudi Arabia and Texaco Inc. signed a $1.8-billion deal Thursday creating a joint venture to refine, distribute and market oil products in 23 American states. The deal gives Saudi Arabia, the world's biggest crude oil exporter, access to the largest oil market in the world and is a major step toward integrating its operations from the well to the gas pump.
BUSINESS
January 12, 1993 | From Times Staff and Wire Reports
Saudis Buy Stake in Saks: United Saudi Commercial Bank said it has bought a $100-million stake in Saks Fifth Ave. on behalf of a group of Saudi investors that includes Saudi Prince al-Walid, the largest individual stockholder in New York-based Citicorp. Saudi bank officials said the stake represents more than 11% of the total book value of the fashion retailer, which was put at $900 million. They said the bank bought the stake on Dec.
BUSINESS
February 2, 1990
Fluor Daniel Inc. said it has received two contracts valued at more than $37 million to help build and operate a plant that will produce liquid carbon dioxide used in carbonated beverage and food processing. Intercontinental Energy Corp. of Hingam, Mass., has hired Fluor Daniel, the primary operating subsidiary of Irvine-based Fluor Corp. to provide engineering, construction, start-up and performance testing for a 350-ton-per-day liquid carbon dioxide production facility.
BUSINESS
June 7, 1991 | From Times Staff and Wire Reports
A federal appeals court in New York, in a case involving failed Lincoln Savings & Loan, ruled that a group of Saudi Arabian investors could bring a racketeering and securities fraud case in this country against foreign banks and American citizens. A lawyer for the investors said the ruling could broaden the application of U.S. racketeering and securities laws to international schemes against foreign victims.
CALIFORNIA | LOCAL
February 18, 1995 | NANCY HILL-HOLTZMAN, TIMES STAFF WRITER
A billionaire Saudi Arabian businessman who leases the largest group of county-owned property in Marina del Rey has defaulted on bank loans for six of his 10 marina holdings, jeopardizing plans for a long-awaited make-over of the aging harbor. A seventh property leased by the businessman, Sheik Abdul Aziz al Ibrahim, a brother-in-law of Saudi King Fahd, is also expected to go into default, county officials said.
BUSINESS
June 15, 1993 | From Times Staff and Wire Reports
Disney to License Products in Saudi Arabia: Walt Disney Co. said it has reached a joint venture agreement to license its products through Saudi Arabia-based CTC Consumer Products, a division of Contracting & Trading Co. Under the agreement, CTC Consumer Products will be the exclusive licensee for Disney products for Saudi Arabia and will later be allowed to move into the other Persian Gulf states.
BUSINESS
April 8, 1993 | TED JOHNSON, SPECIAL TO THE TIMES
Birtcher Construction Ltd. said Wednesday that it has opened offices in Singapore and Thailand and wants to secure construction projects in China. Company President Andrew L. Youngquist also said that he is planning to finalize a third agreement for an office in Saudi Arabia, where Birtcher would manage the construction of office buildings, shopping malls and industrial parks.
BUSINESS
January 12, 1993 | From Times Staff and Wire Reports
Saudis Buy Stake in Saks: United Saudi Commercial Bank said it has bought a $100-million stake in Saks Fifth Ave. on behalf of a group of Saudi investors that includes Saudi Prince al-Walid, the largest individual stockholder in New York-based Citicorp. Saudi bank officials said the stake represents more than 11% of the total book value of the fashion retailer, which was put at $900 million. They said the bank bought the stake on Dec.
BUSINESS
July 13, 1991 | SARA FRITZ and JAMES BATES, TIMES STAFF WRITERS
The Federal Reserve Board moved Friday to bar Saudi Arabian businessman Ghaith R. Pharaon and three others from banking activities in the United States and asked federal prosecutors to launch a criminal investigation into the alleged ownership of Independence Bank in Encino by the Luxembourg-based Bank of Commerce and Credit International.
BUSINESS
June 7, 1991 | From Times Staff and Wire Reports
A federal appeals court in New York, in a case involving failed Lincoln Savings & Loan, ruled that a group of Saudi Arabian investors could bring a racketeering and securities fraud case in this country against foreign banks and American citizens. A lawyer for the investors said the ruling could broaden the application of U.S. racketeering and securities laws to international schemes against foreign victims.
NEWS
June 17, 1988 | PAUL RICHTER, Times Staff Writer
Saudi Arabia will get a major stake in U.S. refineries and gas stations under an $800-million joint venture agreement reached Thursday with Texaco. Under the agreement, Saudi Arabia would apparently become the first member of OPEC to own both refining and distribution assets in the United States, although several other nations have more modest investments. The deal also represents a major step for Saudi Arabia toward its goal of setting up a refinery network in the United States and Europe.
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