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☆ Jeddah Tower: Construction of world’s tallest skyscraper resumes
▼ + stars: | 2024-10-03 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

CNN —Construction of Saudi Arabia’s kilometer-high Jeddah Tower, which will become the world’s tallest skyscraper upon completion, has resumed almost seven years after work ground to a halt amid a kingdom-wide anti-corruption purge. His family’s firm, which also owns a stake in the Jeddah Tower project, has been rehired to complete the construction work. Designed for extremesFormerly known as Kingdom Tower, the skyscraper broke ground in 2013 and was initially expected to be completed by 2020. The architect’s Chicago-based practice, Adrian Smith + Gordon Gill, has said the tower’s shape “evokes a bundle of leaves shooting up from the ground.”Work halted on the unfinished Jeddah Tower in 2018. Jeddah Tower will be the crown jewel of a wider 57-million-square-foot, $20-billion development dubbed Jeddah Economic City.

Persons: Prince Mohammed bin Salman’s, JEC, Saudi Prince Alwaleed bin Talal, Alwaleed, “, Bakr, Laden, Osama bin Laden, Adrian Smith, Gordon Gill, Amel, ” Adrian Smith, JEC’s, Hisham Jomah, ”, Jomah Organizations: CNN, Jeddah Economic Company, Saudi, Kingdom Holding Company, ”, Kingdom Holding, Saudi Binladen Group, Newsweek, Maxar, Jeddah Economic Locations: Saudi, Jeddah, Saudi Prince, Dubai, Burj Khalifa, Chicago, Medina, Mecca, “

WASHINGTON — Sen. Chris Murphy on Monday called for an immediate investigation into the national security implications of Saudi Arabia's stake in Twitter after Elon Musk’s takeover of the social media company. “The purpose of these reviews is clear: to protect the national security interests of the United States and American citizens,” Murphy wrote to Treasury Secretary Janet Yellen, who leads CIFIUS. Late last week, Saudi Arabia’s Kingdom Holding Company and the private office of Prince Alwaleed bin Talal said they would help Musk finance his Twitter deal by rolling over their ownership of shares of the company worth about $1.89 billion, according to a statement tweeted by Alwaleed. Together all the way @Twitter,” Prince Alwaleed tweeted. Saudi Arabia’s sovereign wealth fund, led by Crown Prince Mohammed Bin Salman, owns nearly 17 percent of Kingdom Holding, according to Reuters.

☆ Democratic U.S. senator wants probe into Saudi firm's stake in Twitter
▼ + stars: | 2022-10-31 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Senator Chris Murphy said on Monday he wants a U.S. national security review of a Saudi Arabian conglomerate's stake in Twitter Inc after Elon Musk's takeover of the social media company. "The deal is in line with the long-term investment strategy which Kingdom Holding Company is known for," the statement said. Alwaleed's Kingdom Holding is 16.9% owned by Saudi Arabia's sovereign wealth fund, which is chaired by Crown Prince Mohammed bin Salman. Banks including Morgan Stanley (MS.N) and Bank of America Corp (BAC.N) committed to provide $13 billion in debt financing. Reporting by David Shepardson in Washington Editing by Franklin Paul and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi's Kingdom Holding company to maintain Twitter stake
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Oct 28 (Reuters) - Saudi Arabia's Kingdom Holding Company and the private office of Prince Alwaleed Bin Talal said on Friday that they will continue their ownership of Twitter (TWTR.N) shares valued at $1.89 billion after Elon Musk's takeover of the social media company, according to a statement tweeted by Prince Alwaleed. Alwaleed's Kingdom Holding is 16.9% owned by Saudi Arabia's sovereign wealth fund chaired by crown prince Mohammed Bin Salman. Prince Alwaleed bin Talal rose to international prominence after making a big successful bet on Citigroup Inc(C.N)in the 1990s and he was an early investor in Apple Inc. The prince has also made hundreds of millions of dollars by investing in companies such as Uber Technologies Inc (UBER.N) to Twitter Inc. Reporting by Lilian Wagdy, Writing by Hadeel Al Sayegh; Editing by David Goodman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia's Kingdom Holding invested over $500 million in Russian energy companies around the time Russia invaded Ukraine
▼ + stars: | 2022-08-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Kingdom Holding invested in Russia's Gazprom, Rosneft, and Lukoil from February to March this year. Saudi Arabia's sovereign wealth fund owns 17% of Kingdom Holding. Kingdom Holding, one of Saudi Arabia's highest profile companies, is mostly owned by Prince Alwaleed bin Talal. Kingdom Holding posted details of the transactions into Russian energy companies Gazprom, Rosneft, and Lukoil on Twitter on Sunday. The tweets show the company invested 1.37 billion Saudi riyals, or $365 million, in Gazprom and 196 million riyals in Rosneft in February 2022.

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