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US President Donald Trump (R) and Saudi Deputy Crown Prince Mohammad bin Salman al-Saud take part in a bilateral meeting at a hotel in Riyadh on May 20, 2017.

Mandel Ngan | AFP | Getty Images

DUBAI, United Arab Emirates — U.S. President Donald Trump will touch down in the Persian Gulf region – or as he may soon be calling it, the Arabian Gulf – on May 13, for an official trip with stops in Saudi Arabia, Qatar and the United Arab Emirates. 

The stakes are high, as the visits take place amid turbulent geopolitical tensions. On the agenda will be Israel-Gaza war ceasefire talks, oil, trade, investment deals, and the potential for new policy developments in the areas of advanced semiconductor exports and nuclear programs.

“We expect to see a lot of announcements. And I think in a broad spectrum of areas as well,” Monica Malik, chief economist at Abu Dhabi Commercial Bank, told CNBC’s Dan Murphy on Friday. She noted the potential removal of Trump’s 10% tariffs on aluminum and steel, which would be a positive for the Gulf states as some of them export those metals to the U.S., though they make up only a small percentage of the countries’ GDPs. 

Trump has long enjoyed a warm relationship with Gulf Arab states, in particular the UAE and Saudi Arabia, where his children have several business ventures and planned real estate projects. Those relationships could strengthen the countries’ hands when it comes to negotiating new trade deals – while also raising concerns among critics over potential conflicts of interest, accusations the Trump family rejects. 

Trump's Gulf visit a 'win-win' proposition: Branch

During the president’s initial term in office, his first overseas trip was to Saudi Arabia – a country now hosting the negotiations that Trump hopes will end the Russia-Ukraine war, making the kingdom ever more important to Washington. Qatar, meanwhile, has played a central role in negotiations between Israel and Hamas over ceasefires and hostage releases.  

Wall Street and AI in the Gulf

The presidential visit is drawing several Wall Street and Silicon Valley titans to the Saudi kingdom. A Saudi-U.S. investment forum announced just this week and set to take place on May 13 in Riyadh will feature guests including BlackRock CEO Larry Fink, Palantir CEO Alex Karp, and CEOs of major firms like Citigroup, IBM, Qualcomm, Alphabet, and Franklin Templeton, among others. White House AI and crypto czar David Sacks will also be in attendance. 

“We also expect to see a lot of investment deals being announced,” Malik said. “And both ways, we’ve already seen the UAE announce a number of investments in the U.S. in areas such as AI, energy, aluminum, but we also think that there will be opportunities for U.S. companies to increase investment.”

Both Saudi Arabia and the UAE have invested heavily in AI infrastructure with the goal of becoming global hubs for the technology. Therefore, likely top of mind for those leaders is the future of U.S. semiconductor exports, the most advanced of which they so far have not gained access to due to national security concerns. But that may soon be changing.

e& Group CEO: U.S. partnerships are set to continue

The Trump administration on Wednesday announced its plan to rescind a Biden era “AI diffusion rule,” which imposed strict export controls on advanced AI chips, even to U.S.-friendly nations. The rule will be replaced with “a much simpler rule that unleashes American innovation and ensures American AI dominance,” a U.S. Commerce Department spokesperson said Wednesday, though the details of the new rule have not yet been shared. 

The UAE’s state AI firm G42 has made efforts to align with U.S. regulations, including divesting from Chinese companies and partnering with Microsoft, which last year invested $1.5 billion in G42.

Nuclear ambitions

Trump teases 'very big announcement' ahead of Gulf trip

U.S. Energy Secretary Chris Wright, during a visit to the kingdom in April, said that Saudi Arabia and the U.S. were on a “pathway” to a civil nuclear agreement – but that any further announcements would come from Trump himself. 

Israel-Gaza negotiations 

Another major topic will be the future of Gaza. Trump has vowed to bring about an end to the war, while also controversially suggesting that the U.S. could take control of the war-ravaged Strip which he described as “important real estate,” comments that drew strong rebukes from Arab leaders. 

The U.S. has continued to push for ceasefire deals, most recently floating a 21-day cessation of hostilities and release of some hostages, while Israel this week approved expanding fighting and territorial control in Gaza. 

“We have yet to hear a comprehensive plan from the Arab world,” Greg Branch, founder of UAE-based Branch Global Capital Advisors, told CNBC on Friday while discussing Trump’s upcoming visit. 

“If we’re going to see a response that’s going to be Arab-led, it’s probably now or never,” Branch said. “I think that will be handled very delicately behind the scenes … probably more of a long-term geopolitical risk than any immediate macro risk.”

Oil and financing

Chief economist at Abu Dhabi Commercial Bank talks rate cut outlook, oil price impact

In that vein, financing will be an important agenda item for the kingdom during Trump’s visit, according to ADCB’s Malik. 

Saudi Arabia in November pledged to invest $600 billion in the U.S. over the course of Trump’s term — but it also has sky-high costs for its own Vision 2030 investment ambitions. Lower global oil prices and big-ticket public spending projects have brought about widening budget deficits for Riyadh.  

“With oil prices where they are, Saudi will look at more financing support from America as well as they look to progress with their investment program,” Malik said. 

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Vietnam setting bans on gasoline motorcycles next year, followed by cars

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Vietnam setting bans on gasoline motorcycles next year, followed by cars

Vietnam is taking bold steps to clean up its streets – and quiet them down. Starting next summer, the major downtown areas of Hanoi will ban all gasoline-powered motorcycles as part of a program to cut down on emissions.

The plan will go into effect on July 1, 2026, and then will expand the following year to cover more districts outside of downtown, and eventually include gasoline-powered cars as well. Other major cities like Ho Chi Minh City and Da Nang are now studying similar measures.

The plan is part of Vietnam’s national goal to phase out gas-powered two-wheelers entirely by 2045. And in a country where motorcycles are the lifeblood of daily transportation, with an estimated 72 million of them on the road, this marks a seismic shift.

The first phase of the ban will cover the Hoan Kiem and Ba Dinh districts of Hanoi within the Ring Road 1. These central areas are known for dense traffic, high pollution levels, and a thriving tourism industry. Officials hope that banning gasoline-powered motorbikes will reduce noise, smog, and carbon emissions while nudging residents toward cleaner electric alternatives.

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For now, the ban only affects motorcycles, but city officials have confirmed that it will extend to gasoline-powered cars in later phases. And while many Vietnamese cities have flirted with the idea of regulating vehicle emissions before, this marks the first concrete plan with a clear timeline. Ho Chi Minh City, the country’s largest urban area, is closely watching Hanoi’s progress and is said to be considering following suit.

Electric motorcycles and scooters are already a fast-growing market in Vietnam, led by homegrown companies like VinFast and Selex Motors. VinFast claims to have sold over 160,000 electric scooters as of early 2024, and Selex is rapidly expanding its battery-swap station network. But so far, electric two-wheelers only account for around 5% of the total market.

That number could soon change.

As gas-powered vehicles begin to disappear from urban centers, electric models may finally gain the upper hand. The government is also exploring support policies like financial incentives and improved charging infrastructure, both of which are key to getting more people to switch.

Still, there are hurdles. Many Vietnamese riders are hesitant to adopt electric bikes due to range anxiety, high upfront costs, and a lack of charging stations. But with regulatory pressure increasing and electric models becoming more affordable, the shift looks more like a matter of “when” than “if.”

Electrek’s Take

Vietnam banning gas-powered motorcycles is a big deal, and not just for local air quality. It’s also a major signal to the broader Southeast Asian market, where motorcycles vastly outnumber cars. If Vietnam can pull this off, it could become a model for electrifying personal transport in developing countries. Keep an eye on this one.

Each time I’ve visited Shanghai, for example, I’m amazed at how a pack of 30-40 motorcycles and scooters can whizz by with nothing but wind noise. China has set the example on how cities can clean up, quiet down, and improve their quality of life by mandating an end to gasoline-powered motorcycles. If other countries can replicate it in big cities, the improvement to local and global air quality would be massive, and that comes on top of all the hyper-local benefits like reductions in noise and urban grime.

That being said, one year is an incredibly fast timeline to shift literally millions of motorcycles to electric. It also doesn’t appear to address the financial burden this will put on residents who will have to replace their vehicle, even if locally produced electric scooters can be made affordable. I’ll be watching this one intently to see how officials can address these issues and if they can maintain this tight deadline. If they can pull it off, though, the face of major Vietnamese cities could change completely.

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Manitou and Hangcha commit to heavy equipment battery production JV

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Manitou and Hangcha commit to heavy equipment battery production JV

French equipment manufacturer Manitou has committed to a joint venture with Chinese forklift manufacturer Hangcha that will see the two companies develop and manufacture advanced lithium-ion batteries to support the electrification of the heavy material handler space.

Manitou is well-known in the West, so they need no introduction. Hangcha, though, is arguably just as capable of a company, having opened its first forklift plant in 1956, manufacturing others’ designs under license. They developed their own, in-house material handler in 1974, and have racked up hits ever since. Hangcha is currently the world’s eighth-largest manufacturer of industrial vehicles globally (sounds wrong, but here’s the source).

The plan for the JV is to upgrade the two companies’ deployed fleets of existing lead-acid battery-powered vehicle with longer lasting lithium-ion (li-ion) batteries to expand their operational lifespan. From there, the focus could switch to diesel retrofits and, eventually, the joint development of entirely new products.

“Deepening strategic cooperation with Manitou Group and jointly establishing a lithium battery joint marks a new phase in the partnership between the two sides, which is a milestone in Hangcha global industrial layout,” explains Zhao Limin, Chairman and General Manager of Hangcha Group. “Leveraging Hangcha’s core technological and manufacturing strengths in lithium battery solutions, we will collaboratively enhance solution capability of new energy industrial vehicle power systems. This partnership perfectly aligns with our shared objectives to accelerate electrification transformation and drive sustainable development, while providing robust support to the broader industrial vehicle market.”

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Manitou MHT 12330


MHT 12330 with 72,750 lb. lift capacity; via Manitou.

Once production begins, the joint venture factory will play a key role in supporting Manitou Group’s “LIFT” strategic roadmap. LIFT aims to expand Manitou’s electric vehicle lineup of telehandlers and forklifts, and have EVs account for 28% of total unit forklift sales by 2030. Hangcha Group, meanwhile, has publicly stated its intention to become 100% electric by the end of 2025.

This joint venture plans to recruit employees including engineers, operators, sales representatives and after-sales service technicians. Le Mans Metropole will support the recruitment and local integration and training of future employees.

SOURCE | IMAGES: Manitou; images by Manitou, via Belkorp AG.


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With another tariff deadline looming, these 10 things are going the right way for stocks

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With another tariff deadline looming, these 10 things are going the right way for stocks

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