DIRS.INFO The most relevant business & tech news

☆ All projects are moving full steam ahead in Saudi Arabia, economy minister says
▼ + stars: | 2024-04-29 | 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 EmailAll projects are moving full steam ahead in Saudi Arabia, economy minister saysFaisal Al Ibrahim, the Saudi economy minister, tells CNBC's Dan Murphy "all projects are moving full steam ahead," after reports indicate some megaprojects will be scaled back.

Persons: Faisal Al Ibrahim, CNBC's Dan Murphy Locations: Saudi Arabia, Saudi

☆ 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

☆ Saudi Arabia wants big spenders for the first part of its Neom megaproject
▼ + stars: | 2024-04-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Saudi Arabia plans to open the first part of its Neom megaproject this year. Saudi Arabia is pushing to distinguish itself in the high-end luxury market to compete with Dubai. AdvertisementSaudi Arabia plans to open the first region of its Neom megacity by the end of the year. Neom recently ended investor roadshows in China by confirming the luxury island resort would open this year, Arab News reported. A rendering of The Line, part of the Neom project planned by Saudi Arabia.

Persons: —, Neom, roadshows, It's, Marriott Bonvoy, Chadi, MDLBEAST, Kristian Coates Ulrichsen, Saudi Arabia hasn't, Ulrichsen, Saudi Crown Prince Mohammed bin Salman's Organizations: Dubai, Service, Arab News, Marriott, United, Rice, Baker Institute for Public Policy, Emirates, Saudi, Bloomberg, Business Locations: Saudi Arabia, Sindalah, China, Saudi, Vives, Dubai, United Arab Emirates, Saudi Crown, Gulf Kingdom

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ Saudi Arabia is reportedly borrowing to help fund its megaprojects as oil prices struggle
▼ + stars: | 2024-02-20 | by ( Tom Porter | Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Saudi Arabia has started borrowing to fund megaprojects including Neom, The Wall Street Journal reported. AdvertisementSaudi Arabia is borrowing to help fund an array of ambitious projects including the $500 billion Neom desert megacity, The Wall Street Journal reported. Under its ambitious ruler Mohammed bin Salman's Vision 2030 project, Saudi Arabia is seeking to diversify its economy away from fossil fuels and become a global hub for technology and innovation. The Saudi sovereign wealth fund, the Public Investment Fund, is providing funding for cornerstone "gigaprojects" estimated to cost tens of billions of dollars apiece. He said Saudi Arabia may need to raise another $270 billion for the Public Investment Fund by 2030.

Persons: —, Mohammed bin Salman's, Tim Callen, Brent, Karen Young Organizations: Street Journal, Saudi, Service, Public Investment Fund, Aramco, Gulf States Institute, Bloomberg, Monetary Fund, US Energy Information Administration, Middle East Institute Locations: Saudi Arabia, Saudi, Washington, Diryah

☆ Saudi Arabia's futuristic megaprojects are so expensive that even its oil riches may not be enough
▼ + stars: | 2024-02-20 | by ( Tom Porter | Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

AdvertisementSaudi Arabia is borrowing to help fund an array of ambitious projects including the $500 billion Neom desert megacity, The Wall Street Journal reported. Under its ambitious ruler Mohammed bin Salman's Vision 2030 project, Saudi Arabia is seeking to diversify its economy away from fossil fuels and become a global hub for technology and innovation. The Saudi sovereign wealth fund, the Public Investment Fund, is providing funding for cornerstone "gigaprojects" estimated to cost tens of billions of dollars apiece. He said Saudi Arabia may need to raise another $270 billion for the Public Investment Fund by 2030. AdvertisementThe International Monetary Fund said in October that the Saudis needed oil to be about $86 a barrel to fund its spending commitments.

Persons: Mohammed bin Salman's, Tim Callen, Brent, Karen Young Organizations: Street Journal, Public Investment Fund, Aramco, Gulf States Institute, Saudi, Bloomberg, Monetary Fund, US Energy Information Administration, Middle East Institute Locations: Saudi Arabia, Saudi, Washington, Diryah

☆ Dubai is the economic jewel of the Middle East — now its Gulf neighbors are coming for a piece of the pie
▼ + stars: | 2024-02-03 | by ( Pete Syme | Beatrice Nolan | ) www.businessinsider.com time to read: +8 min

According to Forbes' 2023 Travel Guide, Dubai has nine 5-star hotels , compared to Abu Dhabi's three and two in Qatar and Saudi Arabia. Saudi Arabia has made it clear that it wants in on international travel, stating it aims to attract 100-150 million visitors by 2030. Saudi Arabia is catching up with a new airlineThe competition is perhaps the most heated in the aviation industry. On its double-decker Airbus A380, Dubai's airline, Emirates, has top amenities like a shower for business-class passengers, plus an on-board bar. AdvertisementAnd even if it succeeds in attracting tourists to Saudi Arabia, it is unlikely to knock Emirates off its perch.

Persons: —, Saudi Crown Prince Mohammed bin Salman Al Saud, Saudi Arabia hasn't, Abu, Abu Dhabi, Forbes, Abu Dhabi's, Faisal Alibrahim, Alibrahim, Mohammed Bin Salman, Kristian Coates Ulrichsen, Ulrichsen, Skytrax, Pete Syme, Tony Douglas, Douglas, That's, OAG Organizations: Service, United Arab Emirates, Business, Saudi Crown, Etihad, Bloomberg, CNN, Saudi, Economic, Rice, Baker Institute for Public Policy, Emirates, Qatar Airways, Qatari, Etihad Airways, Riyadh Air, Air, Riyadh Air's Boeing, Boeing, Dubai International Airport Locations: Dubai, Gulf, Saudi, Saudi Arabia, Riyadh, Abu, UAE, Qatar, Davos, Neom, Emirates, Still, Kingdom of Saudi Arabia, Europe, Americas, Africa, Asia

☆ We're hiking Eaton price target on signs the post-earnings rally to all-time highs has legs
▼ + stars: | 2024-02-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Of the 18% that have actually started construction, Eaton has seen a strong win rate of approximately 40% for its electrical equipment. Electrical Americas achieved all-time record sales, profit, and margins with broad base growth in nearly all its end markets. Electrical Global also achieved record sales and profits as organic growth increased 4% year over year, a nice pickup from the flat third quarter. Both book-to-bill ratios are above 1.1, indicating strong growth for the future. By end market, Eaton expects Electricals Americas organic growth of 9% to 11% with operating margins around 26.8% to 27.2%.

Persons: Eaton, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, Electrical, Electrical Global, It's Aerospace, Boeing, Aerospace, Jim Cramer's Charitable, CNBC, Eaton Corporation, NYSE Locations: North America

☆ Make America Build Again
▼ + stars: | 2023-11-16 | by ( Adam Rogers | ) www.businessinsider.com time to read: +37 min

America is the sixth-most-expensive place in the world to build subways and trolleys. The solutions will cost trillions of dollars and require a pace of building unseen in America since World War II. Perhaps the single most pressing question we face today is: How do we make America build again? "For this class of projects, federal environmental laws are more the exception." The prospect of overhauling our hard-won environmental laws might feel like sacrilege to anyone who cares about the Earth.

Persons: Anne, Marie Griger's, Griger, —, They're, Obama, I'm, we've, We've, I'd, It's, Matt Harrison Clough, Jamie Pleune, AECOM, Joe Biden's, There's, David Adelman, David Spence, Spence, James Coleman, NECA, Coleman, everyone's, Danielle Stokes, Nobody, Bill McKibben, Mother Jones, McKibben, Michael Gerrard, Columbia University —, they've, David Pettit, it's, Zachary Liscow, That's who's, Adam Rogers Organizations: RES Group, Environmental, Infrastructure Investment, Jobs, Land Management, Forest Service, University of Utah, Harvard Joint Center for Housing Studies, Brookings, Bureau of Ocean Energy Management, White, University of Texas, Greenpeace, Natural Resources Defense Council, Act, NEPA, Berkeley, University of California, University of Southern, Southern Methodist University, Ecosystems Conservation, GOP, Biden, Motorola, Telecommunications, Conservatives, Federal Energy Regulatory Commission, FERC, University of Richmond, UC Berkeley, USC, Star, Sabin, Climate, Columbia University, Natural Resources Defense, Republicans, Democrats, Management, Budget, Yale Law School Locations: Panama, Colorado, . California, Los Angeles, San Francisco, China, America, Washington, , Wyoming, Nantucket, New England, San Francisco ., University of Southern California, California, New York, Florida, Southern California, Las Vegas

Steam feeding into the Unit 3 turbine generator of the Vogtle nuclear power plant in Waynesboro, Ga. “The United States is now committed to trying to accelerate the deployment of nuclear energy,” John Kerry, President Biden’s climate envoy, said in September. One recent Pew survey found that 57 percent of Americans favor more nuclear plants, up from 43 percent in 2016. A NuScale engineer gave a tour of a control room simulator, modeling the company’s plans for new nuclear reactors, in 2013. “The demand for clean energy is almost unprecedented,” said Maria Korsnick, president of the Nuclear Energy Institute, an industry group.

Persons: Biden, ” John Kerry, Biden’s, “, ”, Jacopo Buongiorno, Jimmy Carter, Rosalyn Carter, Bruce Springsteen, Dan Reicher, Gavin Newsom, Reicher, Clinton, Jeffrey Collins, Arnie Gundersen, John Williams, “ It’s, Patty Durand, Julie Kozeracki, Kendrick Brinson, Jay Wileman, Bill Gates, Dow, Roger Blomquist, NuScale Power, Jose Reyes, Adam Stein, it’s, they’re, Ahmed Abdulla, Robert Taylor, Leah Nash, NuScale, David Schlissel, Joshua Freed, didn’t, Maria Korsnick Organizations: Unit, Republicans, Nuclear Regulatory Commission, Massachusetts Institute of Technology, Associated Press, Madison, Natural Resources Defense, California Gov, Democrat, Associated, Fairewinds Associates, Components, Workers, Georgia, Southern Company, Georgia Power, Georgia Public Service Commission, Energy Department, The New York Times, GE, Hitachi Nuclear Energy, Vogtle . Ontario, Tennessee Valley Authority, Argonne, National Laboratory, Energy, Nuclear Regulatory, NuScale, ”, Breakthrough Institute, Carleton University, Soaring, Institute for Energy Economics, United, Nuclear Energy Institute Locations: U.S, Waynesboro, Ga, Savannah, Georgia, United States, ”, Pennsylvania, Texas, Virginia, Jenkinsville, Vogtle, South Carolina, South, Canada, Tennessee, Argonne, Chicago, Idaho, Wyoming, California, Alaska, Maryland, Pueblo County, Colo

☆ Phil Murphy’s New Jersey Wind Flop
▼ + stars: | 2023-11-06 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: Pushback emerges among donors and employers. Images: AP Composite: Mark KellyPhil Murphy huffed and he puffed, and a giant wind boondoggle blew the New Jersey Governor down. That’s the story of another failed green-energy project, as the follies keep being exposed. The renewable energy firm Ørsted last week backed out of two megaprojects along the Jersey shore that it started planning in 2019. The company says cost overruns have made them impossible, and it wrote off $4 billion for the first nine months of this year.

Persons: Mark Kelly Phil Murphy huffed, Ørsted, Murphy Organizations: New, New Jersey Governor Locations: New Jersey, Jersey

☆ Fitch downgrades Egypt one notch deeper into junk territory
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

The downgrade reflects increased risks to Egypt's external financing, macroeconomic stability and the trajectory of already-high government debt, the rating agency said. The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025, from that which ended in June 2023. The rating agency expects receipts from tourism, the Suez Canal and a recovery of remittances to help contain financing needs from larger imports. "Israel-Hamas war poses significant downside risks to tourism, although we build in some near-term hit," Fitch said. In October, fellow ratings agencies Moody's and Standard & Poor's (S&P) both downgraded Egypt's credit ratings by a notch.

Persons: Mohamed Abd El Ghany, Fitch, Vaibhav, Shailesh Organizations: REUTERS, Monetary Fund, Reuters, Thomson Locations: Cairo, Egypt, Egypt's, Suez, Gaza, Israel, Bengaluru

☆ Vision 2030 is Saudi Arabia's grand plan to future-proof its oil-based economy. Experts say it's a huge risk.
▼ + stars: | 2023-08-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +9 min

Vision 2030 is Saudi Arabia's grand plan to transform its economy and reduce its reliance on oil. The centerpiece of Vision 2030 is Neom, which includes a $1 trillion megacity known as The Line. But time is ticking: Seven years after announcing Vision 2030, Saudi Arabia has reached the midway point of its timeline, with just seven years left to the finish line. That said, much of this is being financed by the Public Investment Fund, Saudi Arabia's powerful sovereign wealth fund, which manages assets worth about $700 billion. NeomA key factor that could determine this project's success involves Saudi Arabia's changing appeal to the West.

Persons: Saud, who's, Simon Mabon, Prince Mohammed Bin Salman, Saudi Crown Prince Mohammed bin Salman, McKinsey —, —, Gerald Feierstein, Barack Obama, Feierstein, Richard Callis, Prince Mohammed, Yasir Othman al, Mabon, Prince Mohammed's, there's, Muslimi, they're Organizations: Foreign Policy Center, Saudi Royal Court, REUTERS, Saudi Crown, McKinsey, Middle East Institute, Public Investment Fund, Saudi, SoftBank's Vision, Newcastle United soccer, Newcastle United FC, Saudi Aramco, International Monetary Fund, Chatham House, Neom, United, Bloomberg, Amnesty International Locations: Saudi, Dhahran, Saudi Arabia, London, NEOM, Bandar, Yemen, Ukraine, Riyadh, Jeddah, they're, United Arab Emirates, Neom

☆ Foreign investment is ramping up amid the reshoring boom. Here are UBS’s top under-the-radar plays
▼ + stars: | 2023-07-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Foreign direct investment is also picking up. That investment is on top of the reshoring boom that is already underway , as U.S. companies return operations back home, partly to ensure the safety of supply chains. More than 101,000 jobs were created by reshoring and foreign direct investment in the first quarter alone, up 11% year over year, according to the Reshoring Initiative . While Eaton is Snyder's top pick on the reshoring theme, he highlighted several other underappreciated names that stand to gain as well. Overall, auto reshoring announcements grew 30% in the second half of 2022 from the year prior, according to UBS.

Persons: Chris Snyder, UBS's Snyder, he's, Snyder, Eaton, Dave Regnery, Regnery, — CNBC's Michael Bloom Organizations: World Trade Organization, UBS, Reshoring, Keysight Technologies, U.S, Trane Technologies Locations: U.S, United States, China, reshoring, Taiwan, Asia

☆ As climate change hits, China weighs new water megaprojects
▼ + stars: | 2023-06-13 | by ( David Stanway | ) www.reuters.com time to read: +5 min

"What they have been doing so far is using engineering solutions to try to physically supply water and fix their water problem," said Mark Wang, a geographer at Melbourne University who studies the impact of China's water infrastructure. "If China can reduce water use and increase efficiency, it doesn't need mega-diversion projects." Total investment in fixed water assets exceeded 1.1 trillion yuan ($154 billion) last year, up 44% compared with 2021, analysts said. It rose 15.6% to 407 billion yuan in the first quarter of 2023 and officials say even more funding will be made available. 'CHAIN REACTIONS'Part of the new plan involves the expansion of the South-North Water Diversion Project (SNWDP), an ambitious engineering project that diverts surplus Yangtze River water to the arid Yellow River basin in the north.

Persons: Li Guoying, Mark Wang, Wang, Genevieve Donnellon, Gorges, David Stanway, Gerry Doyle Organizations: of Water, Melbourne University, China's Ministry of Water Resources, Oxford Global Society, Diversion, Thomson Locations: China, SINGAPORE, Sichuan, Liangshan County, Poyang Lake, Tibet, India

☆ Saudi Arabia is now stealing sporting headlines as prince pursues global ambitions
▼ + stars: | 2023-06-12 | by ( Nic Robertson | ) edition.cnn.com time to read: +9 min

CNN —Saudi Arabia has been in the headlines a lot lately – this time for trying to find its place in the sporting world. The kingdom’s golfing coup is perhaps the crowning sporting achievement so far of heir apparent Crown Prince Mohammed Bin Salman (MBS). Regional outlierBy the time King Salman came along, the 21st century was passing Saudi Arabia by. Saudi Arabia has led efforts to bring Syria in from the cold and tried to mediate in conflicts such as those in Sudan and even Ukraine. On oil, he has made Saudi Arabia a bolder player.

Persons: LIV Golf, Cristiano Ronaldo, Ballon d’Or, Karim Benzema, Jamal Khashoggi, Prince Mohammed Bin Salman, King Salman’s, King Salman, LIV, Liberalizations, Al Hathloul, can’t, Xi Jinping, Vladimir Putin, Bashar al, Assad, Yemen’s, Putin, Xi Organizations: CNN, golf’s, Dubai, Saudi Pro League, France, Washington Post, Formula, MBS, Ritz, Saudi, Washington Locations: Saudi Arabia, Saudi, Portuguese, Istanbul, Riyadh, Mecca, Dubai, Moscow, Beijing, Ukraine, Syria, Sudan, Turkey, Syrian, Iran, Asia, Iraq, Afghanistan, Israel, Jeddah

☆ Analysis: Egypt faces external debt reckoning after borrowing spree
▼ + stars: | 2023-06-06 | by ( Patrick Werr | ) www.reuters.com time to read: +6 min

Amid a foreign currency crunch, Egypt has drawn down net foreign assets in the banking system by more than $40 billion in two years, partly used to prop up the pound. Reuters Graphics Reuters GraphicsReuters GraphicsFINDING FOREIGN FUNDSTwo of Egypt's main foreign currency streams, tourism and Suez Canal transit fees, have edged up. The hard currency squeeze has raised concerns about Egypt's ability to repay foreign debt. Those repayments to the IMF and foreign bond holders alone, worth about $4.5 billion, amount to more than half the annual $8 billion Egypt earns from the Suez Canal. Egypt's external loans leapt to $162.9 billion by December 2022 from under $40 billion in 2015, central bank data showed.

Persons: snubbing, Monica Malik, Moustafa Madbouly, Moody's, politican Abdel Fattah al, Sisi, Farouk Soussa, Goldman Sachs, Patrick Werr, Sumanta Sen, Aidan Lewis, Edmund Blair Organizations: Investors, International Monetary Fund, Finance, Reuters Graphics Reuters, Reuters, Reasssured, Stockholm International Peace Research Institute, Thomson Locations: CAIRO, Egypt, snubbing Egypt, Ukraine, Abu Dhabi, Suez, Cairo, Stockholm

☆ Turkey election rivals both claim early lead, but runoff is likely
▼ + stars: | 2023-05-14 | by ( ) www.cnbc.com time to read: +3 min

Supporters of Turkish President Tayyip Erdogan attend a rally ahead of the May 14 presidential and parliamentary elections, in Istanbul, Turkey May 12, 2023. Turkey appears headed for a presidential election runoff, with the parties of Tayyip Erdogan and opposition rival Kemal Kilicdaroglu claiming the lead. Early results put Erdogan comfortably ahead, but as the count continued his advantage eroded, with a runoff on May 28 beckoning. Ankara's opposition mayor Mansur Yavas said a count by his party suggested Kilicdaroglu was ahead with 47.42%, while Erdogan had 46.48%. His government's slow response to a devastating earthquake in southeast Turkey that killed 50,000 people added to voters' dismay.

Some Chinatown residents benefited from the development boom, selling properties to developers or drawing more customers from increased foot traffic. Some residents have shown tentative support for the luxury buildings, saying they might make the neighborhood safer or bring in wealthier Asian residents who could boost Chinatown's economy. Manhattan Chinatown's housing stock is "really aged," which has led to costly fires, according to Thomas Yu, executive director of Asian Americans for Equality. Chinatowns and the pandemicMany debates surrounding luxury development and affordable housing were accelerated by the pandemic, which shuttered hundreds of businesses across Chinatowns. However, business owners who spoke with CNBC said Chinatown's businesses, though still recovering, are keeping the city's culture alive.

☆ Janet Yellen says national security may come at a cost in US-China relationship
▼ + stars: | 2023-04-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —The United States will safeguard its national security, even if it comes at an economic cost to its relationship with China, US Treasury Secretary Janet Yellen said on Thursday. The federal government will address any national security concerns through export controls, sanctions and by restricting foreign investments, Yellen said. In a speech at the Johns Hopkins School of Advanced International Studies, Yellen outlined three objectives of the US relationship with China: prioritizing national security and defending human rights, promoting a healthy and fair economic relationship with China and cooperating with China to address global issues. Yellen’s remarks come at a time when tensions with China remain high, a few months after a Chinese spy balloon flew across the continental United States. “Even though these policies may have economic impacts, they are driven by straightforward national security considerations,” said Yellen, a former Federal Reserve Chair.

☆ Some new offices are mini towns with their own restaurants, doctor offices, and hotels. Workers actually want to go.
▼ + stars: | 2023-04-13 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +9 min

The idea is getting replicated from the Bell Labs location, or Bell Works New Jersey, Keating said. The spaces run by Bell Works' own coworking brand, CoLab, are nearly 100% occupied. At Bell Works New Jersey, Zucker partnered with Toll Brothers to build a 185-home 55-and-over community. At BRIC, tenants can take advantage of a dozen art galleries, some of which show the work of building tenants. A lobby area near offices at Bell Works Chicagoland.

☆ US-China Tech War: How Money for Semiconductor Factories Costs Americans
▼ + stars: | 2023-01-19 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +15 min

If the first Cold War was defined by the development of nuclear weapons, this Tech Cold War is defined by the computer chip. The massive Intel plant in Ohio is a key part of the race with China for the future of tech. Even before the Intel plant, the Columbus area was well acquainted with these sorts of trade-offs. But, the Ohio State study found, Columbus' residential tax-abatement programs did little to meaningfully address the housing problem, while draining the city's funds. Federal, state, and local subsidies add up to billions of dollars that Intel is saving on its new Ohio semiconductor factory.

☆ China’s Belt and Road Plan Is Down, Not Out
▼ + stars: | 2023-01-09 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

The Belt and Road Initiative—China’s gargantuan overseas infrastructure push which began gaining steam in the mid 2010s—has been the subject of some belt tightening recently. It is too early to write it off entirely. The BRI’s retrenchment during the pandemic has been remarkable in Asia—where much of the funding was initially committed. It is however still expanding its footprint rapidly in Latin America, at least in foreign-direct investment terms. And even in some trouble spots such as Pakistan, Beijing is unlikely to abandon its megaprojects, given how much it has already invested.

☆ Egypt: How the Arab world's most populous country became addicted to debt
▼ + stars: | 2022-12-16 | by ( Cnn Staff | ) edition.cnn.com time to read: +12 min

The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.

☆ Analysis: Saudi prince seeks Mideast leadership, independence with Xi's visit
▼ + stars: | 2022-12-04 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +7 min

The Saudi government did not respond to requests for comment on Xi's visit and its agenda. It is China's top oil supplier, although fellow OPEC+ producer Russia has increased its Chinese market share with lower-priced fuel. The Chinese delegation is expected to sign dozens of agreements with Saudi Arabia and other Arab states covering energy, security and investments, diplomats have told Reuters. U.S. officials have declined to comment when asked about Saudi-China bilateral relations ahead of Xi's visit. "The relationships with China pale versus those with the United States in terms of both complexity and intimacy," he said.

Search resuls for: "megaprojects"

25 mentions found