BEIJING: Apple CEO Tim Cook on Saturday called for “calm heads” and more open trade, amid rising fears of a trade war between the US and China.
Trade tension flared this week when President Donald Trump unveiled plans on Thursday to slap tariffs on potentially up to $60 billion in Chinese goods.
China’s Commerce Ministry on Friday urged the US to “pull back from the brink,” saying it was not afraid to engage in a trade war.
“I’m cognizant that in both the US and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced,” Cook said.
Speaking at the annual China Development Forum in Beijing, Cook said he hoped “calm heads” would prevail.
The sparring has cast a spotlight on hardware makers such as Apple, which assemble most of their products in China for export to other countries. Electrical goods and tech are the largest US import item from China.
In the past year, Apple and other foreign tech firms have grappled with a string of new regulatory requirements in China, including a controversial law requiring firms to house user data in data centers overseen by Chinese firms.
Last month, Apple officially moved to store keys for its iCloud data in China, provoking intense criticism from rights groups who said the decision makes it easier for Chinese officials to tap and collect private data.
Despite challenges, the company has sought to expand its services in China, its third-largest market, where roughly 1.8 million developers use its platform.
“My belief is that businesses should be engaged with governments in countries where they are doing business, whether they agree or disagree,” Cook said.
Cook has come to China several times in the past year, and was among executives who met Chinese President Xi Jinping last October.
“My belief is that one plus one equals three. The pie gets larger, working together,” Cook said.
Others attending the three-day forum include the chief executives of IBM Group, Google Inc. and Qualcomm.
Cook, who this year co-chaired the event, also attended last year when he called for China to increase trade and continue opening itself up to the world.
Apple chief Tim Cook calls for calm heads as China-US tariff war looms
Apple chief Tim Cook calls for calm heads as China-US tariff war looms
Saudi Arabia opens real estate market to foreign buyers
RIYADH: Saudi Arabia’s Real Estate General Authority has announced that the regulatory system governing property ownership by foreigners officially came into effect on Jan. 22, with all provisions now enforceable under the national real estate framework.
The authority said applications for property ownership by non-Saudis can be submitted through the official digital platform, Saudi Arabia Real Estate. The system applies to residents and non-residents, as well as foreign companies and entities, in accordance with established legal procedures.
According to the authority, the application process varies by ownership category. Foreign residents in Saudi Arabia may apply directly through the portal using their residence permit, with legal requirements verified automatically and the process completed electronically.
Non-residents are required to initiate their applications through Saudi embassies and consulates abroad to obtain a digital identification number, which enables them to finalize the process via the platform.
Foreign companies and entities without a presence in the Kingdom must first register with the Ministry of Investment through the “Invest Saudi” platform and obtain a unified registration number (700) before completing ownership procedures electronically.
The authority confirmed that the system allows foreign individuals, companies, and entities to own property across Saudi Arabia, with ownership permitted in major cities including Riyadh and Jeddah.
However, property ownership in Makkah and Madinah remains restricted to Saudi companies and Muslim individuals, in line with a regulatory framework based on the Geographic Zones document, which is scheduled to be announced in the first quarter of 2026.
The authority noted that the Saudi Arabia Real Estate portal serves as the official digital gateway for all ownership procedures, ensuring regulatory compliance and direct integration with the national real estate registry to enhance transparency and protect property rights.
It added that the new system is expected to improve the quality of real estate projects by attracting international developers and specialized firms, stimulating growth in the residential, commercial, industrial, and tourism sectors, and creating employment opportunities for Saudi citizens.
The initiative is also expected to strengthen the real estate sector’s sustainable contribution to the Kingdom’s non-oil gross domestic product.
