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☆ Oil prices fall on fear of high U.S. interest rates depressing demand
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

Oil storage drums stacked in the Keihin industrial area of Kawasaki, Kanagawa Prefecture, Japan, on Monday, April 15, 2024. Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. "Fears of weaker demand led to selling as the prospect of Fed rate cut became more distant," said analyst Toshitaka Tazawa at Fujitomi Securities. Lower interest rates reduce borrowing costs, freeing up funds which could boost economic growth and demand for oil. OPEC+ could extend some voluntary output cuts if demand fails to pick up, people with knowledge of the matter previously told Reuters.

Persons: Toshitaka Tazawa, Philip Jefferson, Michael Barr, Raphael Bostic, Ebrahim Raisi, Ayatollah Ali Khamenei, Mohammed Bin Salman, Fujitomi's Tazawa Organizations: Brent, . West Texas, Federal, Fujitomi Securities, Atlanta Fed, Reuters, Saudi Arabia's Crown, Iranian, Investors, Organization of, Petroleum Locations: Kawasaki, Kanagawa Prefecture, Japan, Saudi, OPEC

☆ Brent oil gains after Iran's President dies, Saudi flags issue with King's health
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +3 min

Brent crude futures extended gains on Monday, inching up amid political uncertainty in major producing countries after Iran's president died in a helicopter crash and the Saudi crown prince cancelled a Japan trip, citing health issues with the king. Brent gained 10 cents, or 0.1%, to $84.08 a barrel by 0454GMT, after rising to $84.30 earlier, its highest since May 10. He added that WTI prices may rebound further toward $83.50 after rising above the 200-day moving average of $80.02. Despite the volatility in the region, oil prices moved only slightly. "Continuity in Saudi strategy is expected regardless of this health issue," he added.

Persons: Brent, Ebrahim Raisi, Saudi Arabian Crown Prince Mohammed bin Salman, King Salman, Yoshimasa Hayashi, Tony Sycamore, Sycamore, Warren Patterson, Patterson, Saul Kavonic, Prince Mohammed Bin Salman's Organizations: Brent, . West Texas, Saudi, Saudi Arabian Crown, Iranian, IG, ING, The, of, Petroleum, Petroleum Reserve Locations: Fort Stockton , Texas, Saudi, Japan, East Azerbaijan, Saudi Arabian, China, U.S, United States, Washington

☆ Saudi king to be treated for lung inflammation, state news agency says
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Photo: Oliver Weiken/dpa (Photo by Oliver Weiken/picture alliance via Getty Images)Saudi King Salman will undergo treatment at Al Salam Palace in Jeddah for a lung inflammation, the state news agency said on Sunday, hours after he underwent medical tests. Citing the royal court, the state news agency said the 88-year-old king would be treated with antibiotics until the inflammation subsides. Earlier on Sunday, King Salman underwent medical tests at the royal clinics at Al Salam Palace due to "high temperature and joint pain", the Saudi state news agency said. King Salman, the custodian of Islam's holiest sites, became ruler of the world's top oil exporter in 2015 after spending more than 2-1/2 years as the crown prince and deputy premier. Saudi Arabia's embassy in Japan did not immediately respond to a request for comment about the crown prince's cancelled trip.

Persons: Abdel Fattah el, Saudi King Salman bin Abdulaziz Al Saud, Jean, Claude Juncker, Oliver Weiken, Saudi King Salman, King, Prince Mohammed bin Salman, Yoshimasa Hayashi, King Salman of, Prince Mohammed's, Hayashi, King Salman, Jake Sullivan, Emperor Naruhito, Fumio Kishida Organizations: Arab League, European Union, of Arab, Getty Images, Al Salam, Saudi, Al, U.S . National Locations: Egypt, Sharm El, Saudi King, Sharm, Saudi, Jeddah, Japan, Saudi Arabia, King Salman of Saudi Arabia, Tokyo, Washington, Riyadh, Saudi Arabia's

☆ Money or talent? What's actually driving hedge funds to Abu Dhabi and Dubai
▼ + stars: | 2024-05-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Millennium, Brevan Howard, Schonfeld, and ExodusPoint are just a few of the funds that have put roots down in either Abu Dhabi or Dubai. Meanwhile, Bridgewater's Ray Dalio bought a penthouse in Abu Dhabi as he compliments the country's policies. When one US-based hedge fund fundraiser met with Abu Dhabi officials late last year, he didn't expect much to come of it. He lauded everything from the Louvre outpost in Abu Dhabi to the warm weather to the responsiveness from government officials. A Bloomberg story on Abu Dhabi notes that it's fast-tracking country-club admissions for new wealthy immigrants.

Persons: —, Brevan Howard, Schonfeld, Bridgewater's Ray Dalio, Austen Smart, Tighe, Smart, Alan Howard, Greg Coffey, Danny Yong, hoover, Doug Greenig, Morgan, Point72, Steve Cohen, Viking Global's Andreas Halvorsen, keynotes, Howard, Abu Dhabi, Craig Bergstrom, Bobby Jain's, Florin Court's Greenig, Abu, Floring Organizations: Service, United Arab Emirates, titans, Business, Tighe International, Florin Court Capital, Morgan Stanley's, Dubai Financial Services Authority, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Corbin Capital, Abu Dhabi Global, Hong Kong, pats, Bloomberg Locations: Dubai, Abu Dhabi, London, New York, Mumbai, UAE, Asia, Switzerland, It's, Gaza, Iran, Palm, Europe, Cayman Islands, Jersey, Miami, San Franciso, Riyadh, Saudi

☆ MBS might be ready for some 'tough conversations' about 'recalibrating' Saudi Arabia's Neom and Vision 2030 projects
▼ + stars: | 2024-05-14 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia's Crown Prince is reportedly open to having "tough conversations" about Vision 2030. MBS might be ready to discuss which projects should proceed first, the Financial Times reported. AdvertisementCrown Prince Mohammed bin Salman may finally be ready to have some "tough conversations" about his ambitious Vision 2030 project. The de-facto Saudi leader is open to discussing which projects should progress and which could wait, the Financial Times reported, citing a person familiar with the thinking at the Public Investment Fund — the sovereign wealth fund. Meanwhile, Saudi has started borrowing to help fund some Vision 2030 megaprojects including Neom, The Wall Street Journal reported.

Persons: Prince, —, Mohammed bin Salman Organizations: Saudi, MBS, Financial Times, Service, Public Investment Fund —, Bloomberg, Street Journal, Neom, Business Locations: Saudi

☆ Neom's push for foreign investment is getting trickier after allegations of Saudi brutality
▼ + stars: | 2024-05-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Saudi Arabia needs foreign businesses to help it realize its Neom megacity project. The BBC reported that Saudi officials were given a license to use lethal force to clear land. But underneath the image is a far darker reality, say campaigners, which could threaten the foreign cash and expertise Saudi Arabia needs to realize its ambitions. Though his decision took place in 2022, it was given new urgency by a whistleblower giving more detail on how Saudi officials may have acted. Amnesty International said businesses ought to be wary of doing deals in Saudi Arabia and called for UK officials to push for an independent investigation into the Neom land clearances.

Persons: —, Malcolm Aw, Col Rabih Alenezi, Dana Ahmed, Mohammed bin Salman, Jamal al, Neom Organizations: BBC, Saudi, Service, UN, Telegraph, Amnesty International, Amnesty, Politico, The Atlantic Council, Business Locations: Saudi Arabia, Saudi

☆ Saudi Arabia's Neom is looking to fill 262 job vacancies. The roles show just how futuristic the megacity could be.
▼ + stars: | 2024-05-12 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

Saudi Arabia's sprawling megacity, Neom, is billed as a chance to live in the "new future." AdvertisementOfficials say Neom will be a "cognitive city." The chosen candidate will control and operate the fish laboratory, ensuring high standards of fish welfare and supporting surveillance and investigation activities into fish health and disease control. Developers have said they want the island resort Sindalah to act as an "exclusive gateway to the stunning Red Sea." An image showing a nighttime view of mountains in the region in northwest Saudi Arabia where planners say Neom will be built.

Persons: —, Neom, Prince Mohammed bin Salman's, Neom's Organizations: Service, Tech, NEOM Community School Locations: Saudi, Saudi Arabia, Tabuk, Sindalah, Gulf, Aqaba, Neom, Oxagon

☆ Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street
▼ + stars: | 2024-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article NKLARIVNLCID Follow your favorite stocks CREATE FREE ACCOUNTR1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Stock Chart Icon Stock chart icon Performance of Rivian, Lucid and Nikola stocks over the past year. Rivian reported $7.86 billion in cash, cash equivalents, and short-term investments to end March, with more than $9 billion in total liquidity. Lucid, for its part, ended the first quarter with approximately $4.6 billion in cash, cash equivalents and investments, with total liquidity of approximately $5.03 billion. Unlike Rivian and Lucid, Nikola is exclusively focused on commercial vehicles rather than ones to retail customers.

Persons: Brian Cassella, Tesla, Itay Michaeli, Rivian, Rivian's, Peter Rawlinson, he's, Rawlinson, " Rawlinson, LSEG, Nikola, Thomas Okray, Okray, Derek Jenkins, David Swanson Organizations: Tribune, Service, Rivian, Lucid Group, Nikola Corp, Wall Street, Citi, Saudi, Public Investment Fund, Wall, Lucid, Los Angeles Auto Locations: Normal, Illinois, Georgia, Normal , Illinois, Los Angeles , California, U.S

☆ Neom's planners are reportedly worried people won't want to live at the bottom of a 1,640-foot horizontal skyscraper
▼ + stars: | 2024-05-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Neom planners are worried about The Line as costs skyrocket, The Wall Street Journal reported. Planners are reportedly concerned the horizontal skyscraper's design might not appeal to some people. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe cost of Saudi Arabia's Neom project seems to be spiraling — and that's not the only issue concerning planners. According to Neom's website, the city will have no roads or vehicles and run entirely on renewable energy.

Persons: —, that's Organizations: Street Journal, Planners, Service, Saudi, Wall Street, World Trade, Business Locations: New York City

☆ Saudi Arabia's $100 billion AI and semi-chip fund says it will divest from China if the US asks
▼ + stars: | 2024-05-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Saudi AI firm Alat would divest from China if the US requests it, CEO Amit Midha told Bloomberg. Saudi Arabia has been pouring billions into AI and semiconductor initiatives in an attempt to become a major hub. AdvertisementA new state-backed Saudi Arabian fund centered on semiconductor and AI technology has guaranteed that it would divest from China if Washington requests it. Officials have long portrayed China's access to AI and semiconductor technology as a national security threat. US officials have already had to mandate AI firms to divest from China, such as G42.

Persons: Amit Midha, —, Midha, that's Organizations: Bloomberg, Service, Milken Institute Global Conference, Saudi Arabia's Public Investment Fund, Officials, Silicon, New York Times, United Arab Emirates, Microsoft Locations: Saudi, China, Saudi Arabia, Washington, Beijing, Alat

☆ Aramco earnings declined as expected, analyst says
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAramco earnings declined as expected, analyst saysJaap Meijer, head of research at Arqaam Capital, discusses the factors behind the earnings decline of Saudi Arabia's largest oil producer.

Persons: Jaap Meijer Organizations: Aramco, Arqaam Locations: Saudi

☆ Saudi Arabia needs peace in the Middle East for its $500 billion Neom megaproject to succeed
▼ + stars: | 2024-05-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

In March 2023, Iran and Saudi Arabia brokered a deal to re-establish diplomatic relations. Related storiesThe US and Saudi Arabia are in the final steps of a new agreement on security guarantees and civilian nuclear assistance, Reuters reported last week. Many of Neom's projects aimed at capturing the luxury tourism market are located along the Red Sea coast. Set to open next year, Neom's luxury island resort of Sindalah is advertised as an "exclusive gateway to the stunning Red Sea." Saudi officials are already fighting to combat claims that Neom is facing delays and setbacks.

Persons: —, it's, Israel, Kristian Coates Ulrichsen, Ulrichsen, Robert Mogielnicki, Mogielnicki, Neom Organizations: Saudi, Service, Neom, New York Times, Reuters, Rice, Baker Institute for Public Policy, Gulf States Institute, Bloomberg, Business Locations: Saudi, Dubai, Israel, Gaza, Iran, Saudi Arabia, China, Palestinian, Israeli, Red, Jeddah

☆ Oil climbs as Gaza tensions rise, Saudi Arabia hikes prices
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +2 min

A view of oil-well in action during sunset at Elk Hills Oil Field as gas prices on the rise in California, United States on April 14, 2024. Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil-producing region. Brent crude futures were up 77 cents, or 0.9%, to $83.73 a barrel at 1055 GMT, while U.S. West Texas Intermediate crude futures were at $78.98 a barrel, up 87 cents, or 1.1%. The geopolitical risk premium in oil prices also eased as talks for a Gaza ceasefire were underway. Also supporting oil was Saudi Arabia's move to raise the official selling prices (OSPs) for its crude sold to Asia, Northwest Europe and the Mediterranean in June, signaling expectations of strong demand this summer.

Persons: Brent, Tony Sycamore Organizations: Brent, U.S, West Texas, IG Locations: Elk, California, United States, Saudi Arabia, Gaza, Israel, Rafah, Saudi, Asia, Northwest Europe, China

☆ Lucid posts quarterly revenue beat as luxury EV sedan price cuts boost sales
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +2 min

Lucid Group reported first-quarter revenue above analysts' estimates on Monday as price cuts helped the company deliver more luxury electric sedans in the first three months of 2024. Revenue for the first quarter was $172.7 million, compared with analysts' estimate of $156.99 million, according to LSEG data. Lucid posted a net loss of $684.76 million, narrower than a $779.5 million loss a year earlier. It ended the first quarter with cash and cash equivalents of $2.17 billion, compared with $1.37 billion in the fourth quarter of last year. The company said it expects capital expenditure of $1.5 billion this year, compared with $910.6 million in 2023.

Persons: Lucid, Elon Musk, Tesla Organizations: Lucid, Air, Revenue, Saudi Arabia's Public Investment Fund Locations: Newark , California

☆ BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
▼ + stars: | 2024-05-01 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

The BlackRock logo is displayed at the company's headquarters in New York City on Nov. 14, 2022. Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia's Public Investment Fund (PIF), the kingdom's sovereign wealth fund. BlackRock, the world's largest asset manager with $10 trillion in assets under management, will "launch investment strategies across asset classes for the Saudi market, including both public and private markets, managed by a Riyadh-based investment team," a joint press release from the firm and the PIF read. The new platform will be called BlackRock Riyadh Investment Management, or BRIM. BRIM aims to help bring foreign institutional investment into Saudi Arabia as well as develop the Saudi asset management industry, expand local capital markets and investor diversification, and support the development of the kingdom's asset management talent, the release said.

Organizations: BlackRock, Saudi Arabia's Public Investment Fund, Saudi, BlackRock Riyadh Investment Management Locations: BlackRock, New York City, Riyadh, Saudi, Saudi Arabia

☆ Saudi Arabia will 'downscale' some Vision 2030 projects amid 'challenges,' minister says
▼ + stars: | 2024-04-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia's Neom project secured a $2.7 billion credit line from local lenders. The Saudi finance minister said the kingdom was "very pleased" with progress on Vision 203 goals. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia is trying to counter reports that its Neom project is struggling.

Persons: —, Mohammed Al Jadaan Organizations: Saudi, Service, Business Locations: Saudi, Saudi Arabia, Riyadh, Sunday

☆ Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
▼ + stars: | 2024-04-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Saudi Arabia's economy minister rejected recent reports that the kingdom's $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. "All projects are moving full steam ahead," Faisal Al Ibrahim told CNBC's Dan Murphy on Monday at the World Economic Forum's special meeting in Riyadh. "We set out to do something unprecedented and we're doing something unprecedented, and we will deliver something that's unprecedented." Al Ibrahim stressed that the projects would be delivered according to plan, but with the qualification that decisions were being made for "optimal economic impact." "We see feedback from the market, we see more interest from the investors and we'll always prioritize to where we can optimize for optimal economic impact," he said.

Persons: Faisal Al Ibrahim, CNBC's Dan Murphy, Al Ibrahim, we'll Organizations: Bloomberg, Saudi, NEOM, Public Investment Fund Locations: Saudi, Riyadh

☆ Sundar Pichai, James Gorman, and Sheryl Sandberg have all worked for McKinsey. Here's why the consultancy is a CEO factory.
▼ + stars: | 2024-04-27 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Many Fortune 500 CEOs have previously worked at McKinsey. The firm has become known as a CEO factory, but has sparked controversy in the past, too. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Sundar Pichai, Sheryl Sandberg, —, it's Organizations: McKinsey, Service, Street, Department of Justice, Enron, Business Locations: Saudi

☆ Saudi Arabia's oil giant boss speaks up for China, saying its massive production of solar panels and EVs helps affordability
▼ + stars: | 2024-04-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Saudi Aramco CEO Amin Nasser praised China for making solar panels and electric vehicles affordable. Saudi Arabia is fostering closer ties with China and wooing Chinese investments and business partnerships. Unlike the West, Saudi Arabia is cozying up to China. "There are lots of opportunities for China to invest in Saudi Arabia," Alibrahim told the media outlet. In March last year, China brokered a détente between Saudi Arabia and Iran, prompting concerns over waning US influence in the Middle East.

Persons: Amin Nasser, Nasser, China's overcapacity, Janet Yellen, Olaf Scholz, China Nasser's, Faisal Alibrahim, Alibrahim, Jon Alterman Organizations: Saudi, Service, Saudi Aramco, World Energy, Financial Times, West, Nikkei, Aramco, Center for Strategic, International Studies, China Economic, Security Locations: China, Saudi Arabia, Saudi Aramco, Saudi, Rotterdam, East Asia, Beijing, Saudi Arabian, Iran, United States

☆ Saudi Arabia is becoming a hot spot for global technology manufacturing with sustainable practices in mind. Here's how.
▼ + stars: | 2024-04-23 | by ( Sponsor Post | ) www.businessinsider.com time to read: +5 min

AI and industry 4.0 technology presents an unprecedented opportunity for manufacturers to transform their operations. Alat has already partnered with several global leaders in advanced manufacturing to work together on these challenges. Alongside advanced technology, another critical element of Alat is the use of clean energy and sustainable practices to become a leader in sustainable manufacturing. Alat will also implement sustainability best practices into every facet of its processes, which integrate the most up-to-date industry 4.0 thinking to enable sustainable manufacturing. Through the combination of advanced technology, best practices, and commitment to sustainability, Alat is reimagining manufacturing, for a better tomorrow.

Persons: Alat Organizations: Saudi Arabia's Public Investment Fund, Alat, SoftBank Group, Saudi, Sustainable Technology, Insider Locations: Saudi, Saudi Arabia

☆ Saudi Arabia is desperately trying to woo bankers to pay for its futuristic desert city
▼ + stars: | 2024-04-22 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Neom is hosting hundreds of prospective investors for on-the-ground tours, Bloomberg reports. Saudi Arabia's government has reportedly been worried about rising costs for the futuristic city. AdvertisementFor the first time, Saudi Arabia is inviting hundreds of private bankers this week to visit Neom, its futuristic — and cash-strapped — city in the desert, Bloomberg reported. Neom CEO Nadhmi Al-Nasr will now show visitors the construction work on "The Line," the planned city between two mirrored skyscrapers. The tours will mark the first time a large group of financiers will be able to see anything of the futuristic city with their own eyes, as opposed to virtual renderings.

Persons: Neom, —, Nadhmi Al, Nasr, that's Organizations: Bloomberg, Service, AFP Locations: China, Saudi, Saudi Arabia, Neom, —, Korea, Japan, Singapore, US, France, Germany

☆ India election: Modi’s Muslim remarks spark ‘hate speech’ accusations as mammoth vote deepens divides
▼ + stars: | 2024-04-22 | by ( Rhea Mogul | ) edition.cnn.com time to read: +12 min

CNN —India’s Prime Minister Narendra Modi has been accused of delivering Islamophobic remarks during an election rally Sunday, triggering widespread anger from prominent Muslims and members of the opposition. India's Prime Minister Narendra Modi speaking during a rally in Sydney, Australia, on May 23, 2023. Kalpit Bhachech/Getty Images Narendra Modi, then BJP secretary is welcomed at Ahmedabad Railway Station by the party's followers on January 31, 1992. Kalpit Bhachech/Dipam Bhachech/Getty Images Narendra Modi pictured in India on January 23, 1998. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023.

Persons: CNN —, Narendra Modi, Islamophobic, Modi’s, Modi, ”, ” Modi, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Rana Ayyub, Asaduddin Owaisi, “ Modi, Mallikarjun Kharge Organizations: CNN, CNN — India’s, Bharatiya Janata Party, BJP, Indian National Congress, of India, India's, New York Times, Rashtriya Swayamsevak Sangh, Getty, Modi, Hospital, Narendra, India Today, AP, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Sangh, Hindu, “, Hate Locations: Rajasthan, Sydney, Australia, Gujarat, India, Ahmedabad, Ahmadabad, Varanasi, New Delhi, United States, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Uttar Pradesh, Abu Dhabi, United Arab, BJP, “

☆ In India’s 2024 election, BJP’s main opposition appears increasingly weak in face of Modi juggernaut
▼ + stars: | 2024-04-20 | by ( Helen Regan | Rhea Mogul | ) edition.cnn.com time to read: +21 min

Supporters of India's opposition party, Indian National Congress, during an election rally in Puducherry on April 15, 2024 R. Satish Babu/AFP/Getty ImagesDemocracy under threat? Dipam Bhachech/Hulton Archive/Getty Images Modi worked his way through the ranks of the BJP, establishing himself as a respected politician. Tobias Schwarz/AFP/Getty Images Modi hugs French President Emmanuel Macron after a ceremony at the Arc de Triomphe in Paris, on June 3, 2017. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023. Pedro Ugarte/AFP/Getty Images Modi offers a toast during a State Dinner with President Joe Biden at the White House in Washington, on June 22, 2023.

Persons: ”, Narendra Modi, Mallikarjun Kharge, Indira Gandhi, Gandhi, ” Hazari Lal Rajput, Satish Babu, Modi, Modi’s, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Arati Jerath, “, it’s, Rahul Gandhi, Rajiv Gandhi, Indira, India’s, Jawaharlal Nehru, gunning, ” Modi, shouldn’t, Mohammad Irfan, —, Arvind Kejriwal, Altaf Qadri, Kejriwal, Atishi, you’re, Jerath, Gandhi ‘, ’ Modi, Christophe Jaffrelot, CNN Modi, Rasheed Kidwai, Rahul, Diptendu Dutta, Mamata Banerjee, Muthuvel Karunanidhi Stalin, ” Kidwai, ” Jerath Organizations: CNN, Bharatiya Janata Party, BJP, Indian National Congress, Getty, Democracy, Modi’s BJP, Pew, New York Times, Rashtriya Swayamsevak Sangh, Modi, Hospital, Narendra, India Today, AP, India's, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Developmental Inclusive Alliance, Indian, Aadmi Party, Delhi, AAP, Aam Aadmi Party, All, Trinamool, West, All India, Congress, “, “ Democracy Locations: India, Uttar Pradesh, Ramlila, Puducherry, Modi’s, Sydney, Australia, Gujarat, Ahmedabad, Ahmadabad, Varanasi, New Delhi, United States, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Abu Dhabi, United Arab, INDIA, Delhi, India’s, Lok Sabha, Atishi, ”, Manipur, Siliguri, West Bengal, Tamil

☆ Heavy rains cause rare flooding in Dubai
▼ + stars: | 2024-04-17 | by ( Denise Chow | ) www.cnbc.com time to read: +1 min

Vehicles hardly move on flooded streets due to heavy rain in Dubai, United Arab Emirates on April 16, 2024. Flooding ensued as a result of the downpour, leading to several vehicles being submerged on the streets and avenues. Heavy rains battered parts of the Middle East on Tuesday, closing schools in the United Arab Emirates and flooding the tarmac at Dubai International Airport. Flights into the Dubai airport were temporarily diverted as a result of the "continued exceptional weather event currently being experienced in the UAE," airport officials said Tuesday in a statement. More than 4.7 inches of rain fell in a day in the UAE, flooding streets across Dubai and sending water spilling into homes and businesses, The Associated Press reported.

Organizations: United Arab Emirates, United Arab, Dubai International, Saudi, Associated Press Locations: Dubai, United Arab, United Arab Emirates, Oman, UAE, Saudi Arabia's, Arabiya

☆ Saudi Arabia's $500 billion Neom megacity is reportedly seeking new sources of cash
▼ + stars: | 2024-04-17 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Saudi Arabia's Neom is planning its first bond sale, Bloomberg reported. The issuance could take place later this year and raise up to $1.3 billion, per the outlet. AdvertisementSaudi Arabia's Neom project is set to issue bonds for the first time as its developers seek new funding sources, Bloomberg reported. The $500 billion desert megacity could raise up to $1.3 billion by selling Islamic bonds, or sukuk, the outlet reported on Wednesday, citing unnamed sources. The sukuk issuance may take place later this year, according to Bloomberg.

Persons: Prince Mohammed Bin Salman's, — Organizations: Saudi, Bloomberg, Service, Business

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