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Riyadh, Saudi Arabia.

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Saudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere.

The kingdom’s $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to 2.87 trillion Saudi riyals ($765.2 billion) in 2023, its annual report published earlier this week revealed — and local investment was a major driver.

The fund’s investments in domestic infrastructure and real estate development grew 15% year-on-year to 233 billion riyals, while its foreign investments increased 14% to 586 billion riyals. At the same time, the Saudi government introduced laws and reforms to facilitate and even mandate investment in the country as it builds out its Vision 2030 plan to diversity its oil-reliant economy.

“The PIF’s report marks a shift from externally driven investments to a focus on domestic opportunities. The days of viewing Saudi Arabia as a mere financial reservoir are ending,” Tarik Solomon, chairman emeritus at the American Chamber of Commerce in Saudi Arabia, told CNBC.

“Today, success with the PIF hinges on partnerships grounded in mutual trust and long-term vision, where stakeholders are expected to contribute meaningfully with capital and not just seek profits.”

One example is the kingdom’s headquarters law, which went into effect on Jan. 1, 2024, and requires foreign companies operating in the Gulf to base their Middle Eastern HQ offices in Riyadh if they want contracts with the Saudi government.

Watch CNBC's interview with Saudi Arabia's assistant minister of investment

Saudi Arabia’s recently-updated Investment Law seeks to attract more foreign investment as well — and it’s set itself a lofty goal of $100 billion in annual foreign direct investment by 2030.

Currently, that figure has averaged around $12 billion per year since Vision 2030 was announced in 2017, according to data from the kingdom’s investment ministry — still a long way from that goal.

Some observers in the region are skeptical as to whether the $100 billion figure is realistic.

“The new investment law is absolutely critical to facilitating more FDI, but it remains to be seen whether it will lead to the huge increase and quantum of capital required,” a financier based in the Gulf told CNBC, speaking anonymously due to professional restrictions.

Solomon echoed the sentiment, pointing out that higher spending on major projects will require higher breakeven oil prices for the Saudi budget.

“It remains to be seen whether the PIF’s domestic investments will deliver the anticipated returns, especially in a region full of instability and oil-dependent budgets facing prolonged periods of low oil prices,” he said.

Watch CNBC's full interview with Saudi Arabia's minister of economy

Still, the new law will “improve local business conditions to attract investment from abroad,” James Swanston, Middle East and North Africa economist at Capital Economics, wrote in a recent report.

Investors have long complained that murky and often ad-hoc rules deterred greater involvement with the Saudi economy. The new law will make foreign investors’ rights and duties uniform with those of citizens, introduce a simplified registration process to replace license requirements, and ease the judicial process, among other things, according to the Saudi government.

“We’ve argued for a long time that so-called ‘wasta’ (loosely translated as ‘who you know’) has been a major deterrent to foreign companies establishing themselves in Saudi,” Swanston wrote.

Spurring greater foreign buy-in “should also ease the burden that has recently been placed on the Public Investment Fund to offset the weaker foreign investment into the Kingdom,” he added.

No more ‘dumb money’

The turn toward greater scrutiny and domestic priorities is not exactly new — rather, it’s picked up more speed each year.

While many overseas firms have long seen the Gulf as a source of “dumb money,” some local investment managers said — referring to the stereotype of oil-rich sheikhdoms throwing cash at whoever wants it — investment from the region has become much more sophisticated, employing deeper due diligence and being more selective than in past years.

“Before it was much easier to come and say, ‘I’m a fund manager from San Francisco, please give me a couple million’,” Marc Nassim, partner and managing director at Dubai-based investment bank Awad Capital, told CNBC in 2023.

“I think that a very small minority of them will be able to take money from the region — they are much more selective than before.”

If the kingdom’s priority was not clear to foreign investors before, it is now, the Gulf-based financier who declined to be named said.

“PIF has been focused on co-opting investment into Saudi for last several years,” he said. “It took a while for bankers to fully appreciate the scope and scale of the pivot. It’s rightly all about transforming the economy.”

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EcoFlow DELTA 2 Max bundle with 500W panel $1,405, Bluetti AC180P station at new exclusive $461 low, Aiper, EGO, Greenworks, more

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June 16, 2025

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EcoFlow DELTA 2 Max bundle with 500W panel ,405, Bluetti AC180P station at new exclusive 1 low, Aiper, EGO, Greenworks, more

We’re kicking off this week’s Green Deals with a mix of new all-time and 2025 low prices, led by the extended EcoFlow Father’s Day Sale that has added new member-only deals, like the first-time offer of the DELTA 2 Max Solar Generator bundle with a 500W bifacial modular panel at $1,405, among others. We also secured a new and exclusive low price on the Bluetti AC180P Portable Power Station for $461, while also noticing Aiper’s Surfer S2 Solar Robotic Pool Skimmer hitting a new $306 low. From there, we have two tool discounts, with the first being on EGO’s 56V 14-inch Cordless Electric Chainsaw for $189, and the second being on Greenworks’ 40V 10-inch Cordless Tiller/Cultivator for $206. Plus, there’s all the rest of the hangover Green Deals from last week in the links at the bottom of the page, collected together in our Electrified Weekly roundup.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

EcoFlow extends Father’s Day Sale with new bundles like the DELTA 2 Max with a 500W panel at $1,405

EcoFlow has extended its Father’s Day Sale offers through June 22, which is including most of the savings we’ve been seeing alongside ongoing sitewide bonus savings. The big changeup with this extension is the addition of more member-only pricing (free to sign up), which includes a first-time offer for the DELTA 2 Max Solar Generator bundle with a 500W bifacial modular panel for $1,405.05 shipped, after using the sitewide code EFFDAFF5 at checkout for an additional 5% off. This package deal is getting a 48% combined markdown here for the next few days, bringing costs down from its full $2,699 price tag. We typically see its variant bundle with two 220W panels selling for between $1,499 and $1,424 during recent sales. This bundle, however, offers more solar input for $19 less, setting the bar for future discounts in the process, while also running you a bill for $1,998 at Amazon right now when grabbing the power station and 500W panel separately.

A great mid-range and expandable backup power option, the EcoFlow DELTA 2 Max brings a reliable 2,048Wh LiFePO4 battery along for your trips into the wilds or even to cover appliances during unexpected blackouts. With the addition of its compatible expansion batteries, you can increase that capacity up to 6,144Wh. There’s also the 2,400W of steady power you’ll get through its 15 output ports, surging as high as 3,400W once its X-Boost mode has been activated within its companion app.

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With EcoFlow’s DELTA 2 Max, you can connect up to two panels, with the station boasting a 1,000W max solar input for solar charging, while also being able to refill its battery through a wall outlet (1.1 hour recharge), or through dual charging by solar and AC simultaneously to reach 80% in 43 minutes. With the purchase of an alternator charger, you can also take advantage of charging as you drive.

***Note: The additional 5% in savings has not been factored into the prices below, so be sure to use the code EFFDAFF5 at checkout for the maximum savings!

EcoFlow’s new Father’s Day member-only deals:

You can browse the rest of EcoFlow’s extended Father’s Day Sale lineup in our original coverage here, and don’t forget that you’ll have until June 22 to take advantage of these deals before the sale officially ends.

Bluetti AC180P portable power station

Pick up Bluetti’s AC180P 1,440Wh LiFePO4 power station with exclusive $438 savings to a new $461 low

We’ve secured an exclusive new low price from Wellbots for our readers on the Bluetti AC180P Portable Power Station for $461.34 shipped, after using the exclusive code BLUETTI9TO5 at checkout. You’d normally be shelling out $899 for this unit at full price here, while it carries a higher $999 tag directly from the brand and can be found as high as $1,099 at other retailers. We’ve had two previous exclusive deals on this model over the last year, the first being in October for $499, while in February it was brought down to $487. The savings are increasing even more today, as this combined 49% markdown cuts $438 from the going rate and lands it at a new all-time low.

Bluetti’s AC180P power station comes as the largest unit in the brand’s AC180 series, providing you ample support for off-grid camping while also having your back for essential emergency power. There’s a 1,440Wh LiFePO4 capacity here, with it dishing out a steady output of up to 1,800W (surging as high as 2,700W when needed). What’s nice about power stations is their ability to retain charges for long periods of emergency backup, with this model able to hold an 80% charge for three to six months, letting you always have it at the ready by just charging it two to four times throughout the year. There’s more output ports here too, with it providing four ACs, four USB-As, one USB-C, one DC car port, and even a wireless charger.

There’s a versatile array of charging options too, with turbo-charging tech lending to a 45-minute charge time to an 80% battery (100% in 1.8 hours) via a standard wall outlet. You can also connect up to its 500W max solar input to refill the battery in 3.3 hours via the sun, or you can plug it into your car’s auxiliary port for a 12.5-hour charge, which is esepcially helpful while driving (as it could drain the car battery if left for too long).

Aiper Surfer S2 Solar Robotic pool skimmer

Automate pool skimming with Aiper’s latest solar-charging Surfer S2 robot at a new $306 low

By way of its official Amazon storefront, Aiper is now offering the best price yet on its Surfer S2 Solar Robotic Pool Skimmer at $305.98 shipped, which also matches its direct pricing from the brand’s site. This model has only been on the market since January, with it previously carrying a $540 price tag, though we’ve been more recently seeing it keep down at $400, with discounts having taken it as low as $320 up until today. It’s beating out our previous mention from last month by $14, giving you a great opportunity to upgrade your pool cleaning routine at the best new price we have tracked.

Aiper’s Surfer S2 robot comes with improved designs over its first-generation predecessor, including its DebrisGuard anti-leak design, a more powerful brushless motor, and a larger suction inlet that is paired alongside a 150-micron filtration system, giving you better performance regardless of it being for smaller or larger debris. There’s a larger battery with this model too, letting it run for up to 35 hours on a single charge, with the onboard solar panel topping it off during every sunny day, while also providing a DC adapter as a backup charging option during cloudier times.

Aiper has given this robot dual dToF sensors that work with the brand’s algorithms for greater obstacle avoidance capabilities – with it even knowing when to deploy or retract its four anti-standing columns to keep it from getting caught on pool steps. Should these columns fail at preventing this, the robot has self-rescue programming to get it back to deeper waters. It comes with a full array of smart controls through its app, letting you monitor or adjust settings, as well as manually steer it should you want a particular area taken care of. You can check out all the other discounted models from Aiper in the brand’s official Amazon storefront here.

EGO Power+ 56V 14-inch cordless chainsaw

Make quick work of trees and shrubbery with EGO’s 56V 14-inch cordless electric chainsaw at $189

Amazon is offering the EGO Power+ 56V 14-inch Cordless Electric Chainsaw for $189 shipped. This model has been recently fetching $229 at full price, with it having been available at $189 off and on since mid-May. You can pick up your own while the savings last, cutting $40 off the going rate at the best price we have tracked over the last 12 months.

The brushless motor inside this 56V EGO chainsaw is equivalent to a 30CC gas model, giving you up to 6,800 RPM for more eco-friendly and efficient cuts, while also allowing you to toss out that noisy and fume-belching gas guzzler. The included 2.5Ah battery provides enough juice for up to 100 cuts on a single charge, giving you ample support for firewood or cutting up trees and shrubbery that may becomes damaged from this year’s hurricane season. What’s especially nice about EGO tools/batteries is that they come compatible with each other, allowing you to switch things around for longer runtimes or to power multiple different tools off one source.

Greenworks 40V 10-inch cordless tiller/cultivator

Aerate soil before planting with Greenworks’ 40V 10-inch cordless tiller/cultivator at $206

Amazon is offering the Greenworks 40V 10-inch Cordless Tiller/Cultivator for $206.20 shipped. Normally going for $280 at full price, discounts have mostly kept the costs above $240 during 2025 so far, with a few previous falls as low as $216. The deal here brings a 26% markdown to the pricing, cutting $74 off the tag for the best price we have tracked. It’s even beating out the direct pricing from Greenworks’ website, where it’s sitting $32 higher.

While we’re no longer in the prime cultivating time of spring, the weather this year for many regions around the country has only just begun warming up, meaning that this Greenworks tiller/cultivator would still be good to use – and that’s not counting any fall planting you’ve got on the books which will need prepping for. The included 4.0Ah battery keeps the motor running for up to 45 continuous minutes of breaking up/aerating your soil, coming with an adjustable tilling width of 8.25 to 10 inches. The best part is that it’s virtually maintenance-free, as you won’t have to deal with gas, oil, or noisy/fume-heavy emissions. If you already have the appropriate battery for it, you can pick up just the tool on its own for $170, down from $220.

Best Spring EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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Justin Sun’s Tron to go public through reverse merger in deal led by Trump-linked bank

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June 16, 2025

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Justin Sun's Tron to go public through reverse merger in deal led by Trump-linked bank

Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, May 8, 2020.

Calvin Sit | Bloomberg | Getty Images

Justin Sun’s crypto company Tron is set to hit the public market through a reverse merger with a manufacturer of custom toys and souvenirs for the world’s biggest theme parks.

SRM Entertainment, a Nasdaq-listed merchandise supplier that has licensing deals with Disney, Universal Studios (owned by CNBC parent NBC Universal) and SeaWorld, said on Monday that it will raise $100 million from a private investor to buy TRON tokens, and will issue preferred shares and warrants that value the deal at up to $210 million.

SRM said it plans to rebrand as Tron Inc., with Sun joining as an advisor. Shares of SRM soared 460% after the announcement, lifting the company’s market cap to about $140 million.

For Sun, who was previously charged with securities fraud by the SEC, the announcement is the latest boon in what has been a dramatic reversal of fortunes since the beginning of President Donald Trump’s second term.

A court filing in February showed that Sun and the SEC were exploring a resolution to the civil fraud case, as part of the Trump administration’s unwinding of enforcement actions taken during President Joe Biden’s four years in office.

That filing came after Sun, in January, upped his stake in tokens issued by the Trump family’s crypto bank World Liberty Financial to $75 million. Sun, who was born in China, later purchased the president’s meme token, winning a contest for top holders, and raising his stake in Trump-tied tokens to at least $97 million.

SRM’s offering was arranged by Dominari Securities, a boutique investment bank whose parent company has recently drawn attention for its ties to the Trump family. Donald Trump Jr. and Eric Trump joined Dominari Holdings’ advisory board earlier this year, shortly before the firm’s share price surged.

SRM said it will stake the TRON token, distribute dividends, and build long-term shareholder value through digital asset exposure, mimicking a bitcoin-buying tactic that Michael Saylor has popularized at Strategy.

TRON is a blockchain network that’s considered a rival to Solana. It claims to offer low transaction fees with the ability to process a large number of transactions per second, and is intended to move stablecoins and other digital assets.

WATCH: President Trump holds meme coin dinner

President Trump holds meme coin dinner

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Wisk Aero signs agreements to establish autonomous air taxi operations in Miami and Japan

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3 hours ago

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June 16, 2025

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Wisk Aero signs agreements to establish autonomous air taxi operations in Miami and Japan

autonomous air taxi

Advanced air mobility developer Wisk Aero wasted no time during the first day of the Paris Air Show, announcing two separate deals to establish autonomous air taxi operations in two different regions. Those agreements include Memoranda of Understanding with partners in Miami in the US, and the City of Kaga, Ishikawa, in Japan.

As you may already know, Wisk Aero operates out of California as a wholly owned subsidiary of Boeing. The company’s flagship model, the Cora (pictured above), is an autonomous all-electric aircraft that predates the Wisk Aero brand and has seen several generational variants over the seven years or so.

Last month, Wisk and NASA built on an existing partnership, committing an additional five years to their research. They hope to bring regulated and autonomous air taxi flights to the public by the end of the decade.

If and when those commercial operations begin, we know at least two planned regions for Wisk, as it announced an expanded partnership in Japan today and a new agreement with the City of Miami.

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Japan Airlines Engineering Co., City of Kaga, and Wisk / Source: Wisk Aero

Wisk establishes Miami as a US autonomous air taxi hub

The first of two press releases from Wisk Aero today includes news of two separate Memoranda of Understanding (MoUs) – one with the Miami-Dade Aviation Department (MDAD) and another with the University of Miami’s Engineering Autonomy Mobility Initiative (MEAMI).

Under the terms of the signed agreements, Wisk and MDAD will work together to identify possible locations for air taxi vertiports at existing airports, including Miami International Airport (MIA), Miami Executive Airport (KTMB), and Locka Executive Airport (OPF).

Wisk will provide the necessary technical guidance pertaining to viable vertiport infrastructure in order to establish autonomous air taxi operations in the region and in return, MDAD will incoporate said technologies and infrastructure into its existing plans for airport development and expansions.

Through the other Miami-based MoU, Wisk will gain access to the University of Miami’s facilities to collaborate on R&D for autonomous aerial operations, regulations, and safety, while simultaneously developing business opportunities, UD regulatory frameworks, and pursuing grant opportunities for a joint University project. Per Wisk CEO Sebastien Vigneron:

Miami has demonstrated long-standing support for AAM, making it a natural fit for future Wisk operations. We’re incredibly excited to deepen our roots here with both the Miami Dade Aviation Department and the University of Miami. These partnerships are helping us build the entire AAM ecosystem and unlock the full potential of autonomous operations at scale so we can bring safe, everyday flight to everyone.

Wisk rolled out a second press release on day one of the Paris Air Show, announcing the signing of a three-party MoU with the City of Kaga, Ishikawa, Japan, and Japan Airlines’ subsidiary, JAL Engineering Co., Ltd (JALEC), to introduce autonomous air taxi travel in Japan.

Wisk had an existing partnership with Japan Airlines and JALEC, but has honed in on Kaga City to explore commercial deployment. Kaga City has been designated by Japan’s government as a “national strategic special zone,” authorized for the development, testing, and validation of autonomous air mobility. Per city mayor, Riku Miyamoto:

As the first step in Wisk’s business expansion into Japan, Kaga City will strongly support the establishment of an operations base and support the construction of an AAM operation model in collaboration with JALEC. Kaga City is a local government with a population of approximately 62,000 people, but because the city has been selected as a national strategic special zone, we are able to carry out bold regulatory development in Japan. The advantage of not being a big city like Tokyo or Osaka is that there is a high degree of freedom as a research and development field, and one-stop arrangements are possible.

Through the three-party MoU, Wisk, Kaga City, and JALEC will research and develop regulatory systems, analyze the local market and social acceptance of autonomous air taxi technology, and establish a supply chain to support localized manufacturing. Wisk’s CEO once again spoke:

We are excited to deepen our commitment to Japan and further our partnership with JAL through this new collaboration with Kaga City. Japan is a key market for the introduction of AAM, and Kaga City’s forward-thinking approach to future mobility, coupled with its special zone designation, provides an ideal environment for us to explore and demonstrate the benefits of our Gen 6 aircraft. This partnership is a significant step towards building the necessary ecosystem for autonomous flight in Japan.

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