Saudi Arabia signs joint deal with Lockheed Martin after Biden froze arms sales to Middle East

Saudi Arabian Military Industries (SAMI) has signed an agreement to set up a joint venture with US firm Lockheed Martin to enhance the kingdom’s defense and manufacturing capabilities, the state-owned Saudi company said on Sunday. SAMI, which is owned by the Saudi state’s Public Investment Fund (PIF), will own 51 percent of the venture. ‘The … Read more