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☆ 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

☆ Saudi Arabia’s biggest-ever plane order isn’t going to Boeing
▼ + stars: | 2024-05-20 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Saudi Arabia’s national airline has placed an order for 105 Airbus airplanes in the largest-ever deal in the country’s aviation history — another win for troubled Boeing’s European rival. Saudia Group’s current fleet comprises 93 Airbus and 51 Boeing aircraft, according to its website. Al-Omar did not specify whether it was the number of airplanes ordered or the total value of the order that made it Saudi Arabia’s biggest-ever aviation deal. When asked by CNN about that, as well as the value of the deal, Saudia Group did not respond, while Airbus declined to comment. Despite having a backlog of orders amounting to more 5,600 commercial jets, worth $529 billion, Boeing cannot make planes quickly enough each year to turn a profit as it’s working to address its quality issues.

Persons: Ibrahim Al, Omar, ”, “ Saudia, ” Al Organizations: London CNN, Saudi Arabia’s, Saudia Group, Saudia, Future Aviation, Airbus, Boeing, CNN, Future Aviation Forum, Saudi, National Tourism Strategy, Max Locations: Saudi, Riyadh

☆ Oleksandr Usyk pays tearful tribute to late father after becoming undisputed heavyweight world champion
▼ + stars: | 2024-05-19 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —Once the immediate shock and joy at becoming the undisputed heavyweight world champion had subsided, Oleksandr Usyk’s thoughts turned to his late father who passed away in 2012. As the Ukrainian recalled the last time he dreamt about his father in the press conference after defeating Tyson Fury, his words faltered and he grew tearful. Usyk, 37, became the first undisputed heavyweight champion in the four-belt era after defeating Fury in a split decision in Riyadh, Saudi Arabia, on Saturday. He is the first undisputed champion since Lennox Lewis 25 years ago, the Briton winning all three belts available at that time. Fury echoed his opponent saying in his press conference that he didn’t want to think about another fight just yet.

Persons: Oleksandr Usyk’s, Tyson Fury, “, don’t, ’ ”, ”, gesturing, Fury, Lennox Lewis, Usyk, ” Usyk, ” Tyson Fury, Richard Pelham, ‘, ’, Francis Ngannou, I’ve Organizations: CNN, Briton, WBC, WBA, IBF, WBO, Sky Sports, Fury, UFC Locations: Ukrainian, Riyadh, Saudi Arabia, Fury’s, ”, Russia, Ukraine

☆ Ukraine’s Usyk beats Fury to become undisputed heavyweight boxing world champion
▼ + stars: | 2024-05-18 | by ( ) edition.cnn.com time to read: +2 min

CNN —Oleksandr Usyk scored a razor-thin split decision over Tyson Fury to become undisputed heavyweight boxing world champion in a thrilling contest at the Kingdom Arena in Riyadh in the early hours of Sunday morning. The 37-year-old Ukrainian is the first boxer to hold all four major heavyweight belts at the same time and the first undisputed champ since the end of Lennox Lewis’ reign in April 2000. Oleksandr Usyk holds a Ukrainian flag as he celebrates with the Undisputed Heavyweight title belt following his victory over Tyson Fury on May 18, 2024. The previously undefeated Briton managed to hang on until the bell but he struggled through the final three rounds of the fight as Usyk chased him down to edge him out on the judges’ scorecards. … It’s a great time, it’s a great day,” a tearful Usyk said in a post-fight interview in the ring, adding that he would grant Fury an immediate rematch.

Persons: Oleksandr Usyk, Tyson Fury, Usyk, Fury, Lennox Lewis ’, Richard Pelham, Briton, It’s, it’s, ”, Australia’s Jai Opetaia, Ireland’s Anthony Cacace, Joe Cordina Organizations: CNN, Getty, Briedis, IBF, IBO Locations: Riyadh, Ukrainian, Latvia, Wales

☆ Tyson Fury vs. Oleksandr Usyk: How to watch the undisputed heavyweight title fight
▼ + stars: | 2024-05-18 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

After months of talk and canceled fights, the two boxers will exchange blows to crown the first undisputed heavyweight champion since Lennox Lewis in 1999, and the division’s first undisputed champion in the four-belt era. DAZN will broadcast the fight around the world, with viewers in the US able to watch on ESPN’s pay-per-view service. A long time in the makingA fight between Fury and Usyk has been a long time coming. Justin Setterfield/Getty ImagesFinally, a date of December 23 was agreed, but following a controversial, tougher-than-expected fight for Fury against former UFC heavyweight champion Francis Ngannou, the fight was delayed until February, 2024. All on the lineA general view of Tyson Fury and Oleksandr Usyk speaking to the media on May 16, 2024 in Riyadh, Saudi Arabia.

Persons: CNN — It’s, Tyson Fury, Oleksandr Usyk, Lennox Lewis, Usyk, Wladimir Klitschko, Dillian Whyte, Deontay Wilder –, Anthony Joshua, Daniel Dubois, Fury, Justin Setterfield, Francis Ngannou, rescheduling, Richard Pelham, Joshua, ” Organizations: CNN, Sky Sports, TNT Sports, WBC, –, WBO, WBA, IBF, Fury, UFC, Briton, Getty, Ngannou Locations: Riyadh, Saudi Arabia, Usyk

We'll show you how to watch Fury vs. Usyk live streams in over 200 countries. You'll need to pay a pay-per-view (PPV) fee to see Fury vs. Usyk. How to watch Fury vs. Usyk in the US & CanadaDAZN will live stream the Fury vs. Usyk fight across North America. When is Fury vs. Usyk live stream? The Fury vs. Usyk will be held at the Kingdom Arena in Riyadh, Saudi Arabia.

Persons: Tyson Fury, Oleksandr Usyk, Ukrainian Oleksandr Usyk, Jai Opetaia, Joe Cordina, Anthony Cacace, Usyk, Canada DAZN, It's, DAZN, ExpressVPN, Francis Ngannou, Mairis Briedis, Frank Sanchez, Agit Kabayel, Moses Itauma, Ilja Mezencev, Mark Chamberlain, Joshua Wahab, Sergey Kovalev, Robin Sirwan Safar, Daniel Lapin, Octavio Pudivitr, David Nyika, Michael Seitz, Isaac Lowe, Hasibullah Ahmadi Organizations: Business, WBC, WBO, WBA, IBF, titans, Canada Locations: Ukrainian, North America, Canada, Riyadh, Saudi Arabia

☆ Israel Resists Grand Bargain as U.S. and Saudis Work on Security Pact
▼ + stars: | 2024-05-17 | by ( Edward Wong | Vivian Nereim | ) www.nytimes.com time to read: +1 min

Two years into President Biden’s term, his aides began negotiating with Saudi leaders to have the kingdom establish diplomatic relations with Israel. But when the Israel-Hamas war began last October, the talks withered. American and Saudi officials have tried to revive prospects for a deal by demanding more from Israel — a cease-fire in Gaza and irreversible steps toward the founding of a Palestinian nation. Now those officials say they are close to a final agreement on the main elements of what the Saudis want from the deal: a U.S.-Saudi mutual defense pact and cooperation on a civilian nuclear program in the kingdom. And Jake Sullivan, the White House national security adviser, is expected to follow up when he goes to Saudi Arabia and Israel this weekend.

Persons: Biden’s, Israel —, Antony J, Blinken, Prince Mohammed bin Salman, Jake Sullivan Organizations: Saudi, Hamas, State Department, White House Locations: Israel, Gaza, Palestinian, U.S, Saudi, Riyadh, Saudi Arabia

☆ 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

☆ Hattan Alsaif: ‘When I fight, I can feel my soul alive,’ says Saudi Arabia’s groundbreaking MMA star
▼ + stars: | 2024-05-10 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

Alsaif is acutely aware of her status as a trailblazer for female MMA fighters in Saudi Arabia and takes such a responsibility seriously. I feel I’m alive when I train, when I fight, in the gym – I can feel my soul alive. “When I breathe after the rounds, when I feel sick, when I feel tired, when I feel courage, when I feel scared, those moments, every part of that, it makes me feel alive. It’s something that means a lot to me.”Alsaif (right) competed in Muay Thai prior to MMA. Sadaa, coach of Saudi Arabia’s Muay Thai national team, has been central to Alsaif’s success, though his influence extends far beyond a sporting sphere.

Persons: Hattan, Saudi Arabia –, – Alsaif, “, ” Alsaif, I’m, “ It’s, Egypt’s Nada Faheem, Alsaif, ”, it’s, Abdullah Al, Feras Sadaa, Sadaa, Claressa Shields, Kelsey De Santis, ’ ” Organizations: CNN, CNN Sport, Professional Fighters League, wasn’t, Professional, League, Thailand –, Combat Games, Saudi Games, International Federation of Muaythai, Muay Thai, Al, SRJ Sports Investments Company, Saudi Arabia’s Public Investment Fund Locations: Riyadh, Saudi Arabia, Saudi, Thai, Thailand, East, North Africa, MENA

☆ Oil edges up after Israel strikes Gaza, while truce talks continue
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +1 min

Oil rig and pump of H&P Rig 488 in Stanton, Texas, on June 8, 2023. Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Israeli forces struck Rafah on Gaza's southern edge from the air and ground and ordered residents to leave parts of the city, which has been a refuge for more than a million displaced Palestinians. Riyadh's move to raise the official selling prices for its crude sold to Asia, Northwest Europe and the Mediterranean in June also supported prices, signaling expectations of strong demand this summer. The world's top exporter hiked its flagship Arab Light crude oil price to Asia to $2.90 a barrel above the Oman/Dubai average in June, the highest since January and at the upper end of traders' expectations in a Reuters survey.

Persons: Israel Organizations: Brent, U.S, West Texas, Hamas Locations: Stanton , Texas, Israel, Rafah, Gaza, Israeli, Asia, Northwest Europe, Oman, Dubai

☆ Opinion: I’ve seen too many young journalists pay the ultimate price. It’s them I’ll be thinking of today
▼ + stars: | 2024-05-03 | by ( Opinion Jon Williams | ) edition.cnn.com time to read: +10 min

When a journalist is killed, it is not just their voice that is silenced: Press freedom is your freedom. Over 30 years ago, the United Nations recognized May 3 as World Press Freedom Day: a global reminder of the importance of press freedom and an opportunity to assess its health around the world. The Committee to Protect Journalists (CPJ) found that at least 100 journalists and media workers have been killed since we last marked World Press Freedom Day. Tragically, on this World Press Freedom Day, our work is needed more than ever. On this World Press Freedom Day, the fallen who gave their lives for the truth should serve as a reminder as to why press freedom is really your freedom.

Persons: Jon Williams, Rory Peck, Read, Jon Williams Rory Peck, Bayeux, ”, Simon Cumbers, Simon, Al, Louise, Cumbers, Johnny Green, Thomas Jefferson, ” Jefferson, it’s, Dom Phillips, Phillips, Aldeia Maloca, Bruno Pereira, Joao Laet, don’t Organizations: Rory Peck Trust, BBC News, ABC News, CNN, 1st Cavalry, Canadian, BBC, The Washington Post, United Nations, Protect Journalists, Getty, United, Twitter, Facebook Locations: Bayeux, Northern France, France, Omaha Beach, Europe, Nazi Germany, Normandy, Paris, “, Saudi Arabia, Al Qaeda, Saudi, Riyadh, Ireland, London, South, Indonesia, Turkey, India, Madrid, Irish, Kabul, Afghanistan, Gaza, Ukraine, Honduras, Sudan, Philippines, Brazil, Aldeia, Roraima, AFP, Britain, United States, Israel, Egypt

☆ Saudi women’s rights activist sentenced to 11 years in jail, rights groups say
▼ + stars: | 2024-05-02 | by ( Radina Gigova | Hande Atay Alam | ) edition.cnn.com time to read: +4 min

CNN —Human rights groups are calling for the release of a Saudi woman, who they say has been sentenced to 11 years in prison for supporting women’s rights and for the way she dressed. Manahel al-Otaibi, a 29-year-old fitness instructor and women’s rights activist, was sentenced during a “secret hearing” before the kingdom’s Specialized Criminal Court on January 9, 2024, Amnesty International and the London-based Saudi rights organization ALQST said in a joint statement Tuesday. Saudi Arabia’s authorities “must immediately and unconditionally” release Manahel al-Otaibi, as the decision to imprison her “directly contradicts the authorities’ narrative of reform and women’s empowerment,” Amnesty and ALQST said. “Manahel’s conviction and 11-year sentence is an appalling and cruel injustice,” said Bissan Fakih, Amnesty International’s Campaigner on Saudi Arabia. Al-Otaibi’s sentencing comes “amid an intensified crackdown on free speech in Saudi Arabia, including online expression,” the groups said.

Persons: Manahel, ”, ALQST, Otaibi “, Al, Fawzia, “, Bissan Fakih, Otaibi, Prince Mohammed bin Salman’s Organizations: CNN, Amnesty International, Saudi, United Nations, UN, Amnesty, Human Rights Locations: Saudi, London, Geneva, Saudi Arabia, Riyadh

Israeli Prime Minister Benjamin Netanyahu has long sought relations with Saudi Arabia, home of Islam’s holiest sites, as the move could domino across the wider Muslim world. The first component includes a package of agreements between the US and Saudi Arabia, another component has the normalization of relations between Saudi Arabia and Israel, and a third component for a pathway to a Palestinian state. The subsequent Israeli assault on Gaza, which has left the enclave in ruins and killed more than 34,000 Palestinians, may have changed the parameters of the deal for Saudi Arabia, analysts say. However, there has been no indication that the Biden administration would opt to bypass Congress for the bilateral agreement with Saudi Arabia to pass. Saudi Arabia is rich in uranium deposits and has insisted on being able to enrich it domestically, which would be a first for an Arab state.

Persons: Benjamin Netanyahu, Matthew Miller, ” Miller, Antony Blinken, ”, Blinken, Prince Mohamed bin Salman, Netanyahu, Biden, Prince Faisal bin Farhan, Israel, Lindsey Graham, ” Graham, Firas Maksad, “, Jamal Khashoggi, ” Maksad, Crown Prince, Karen Young, Edward J, Markey Organizations: CNN, State, Saudi, State Department, Abraham Accords, Israel, MBS, Saudi Foreign, Republican, Senate, Bahrain, Biden, Strategic Outreach, Middle East Institute, Washington DC, Congress, Washington Post, Crown, Columbia University’s Center, Global Energy, Neighboring United, Democratic, Nuclear Weapons, NATO Locations: Saudi Arabia, United States, Israel, Iran, Russia, China, Palestinian, Gaza, ”, Riyadh, Saudi, Washington, Turkey, “ Saudi Arabia, Emirates, Bahrain, U.S

☆ Opinion | Israel and Saudi Arabia Are Trading Places
▼ + stars: | 2024-05-02 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +3 min

But the other part of the deal, which is seen as critical to winning support in Congress, is for Saudi Arabia to normalize relations with Israel. There are a lot of “ifs” and “provided thats” in this equation that seem most unlikely today. As a result, the U.S. and the Saudis are considering finalizing the deal and taking it to Congress with the stated proviso that Saudi Arabia will normalize relations with Israel the minute Israel has a government ready to meet the Saudi-U.S. terms. Hopefully, though, if there can be a permanent end of fighting and a return of all Israelis taken hostage, Israel will hold new elections. And then — maybe, just maybe — the choice on the table for Israelis will not be Bibi or no Bibi, but Bibi or a credible pathway to peace with Saudi Arabia and the Palestinians.

Persons: Biden, Israel, “, Netanyahu, Bibi Organizations: U.S, West Bank, Palestinian, Saudi, New York, Facebook Locations: U.S, Saudi Arabia, Japan, Taiwan, Israel, Gaza

☆ 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

☆ Only the U.S. has the ability to break the cycle of violence in Gaza, Egyptian foreign minister says
▼ + stars: | 2024-04-29 | by ( Emma Graham | ) www.cnbc.com time to read: +1 min

Egypt's Foreign Minister Sameh Shoukry called on the U.S. to leverage its influence over Israel to prevent further bloodshed in Gaza. Speaking to CNBC's Dan Murphy on Sunday at a World Economic Forum meeting in Riyadh, Saudi Arabia, he said "only the United States has the overall ability to influence conditions, and to motivate all sides concerned to find the point of convergence, and to be able to break the cycle of violence." His words echoed other Arab leaders at the WEF meeting who believe that ending the war in Gaza falls on the United States. Shoukry pushed Washington to "leverage their ability to provide incentives, but also to indicate consequences for the lack of achievement or the lack of progress in the cessation of hostilities." Hamas is reportedly reviewing Israel's latest Gaza cease-fire proposal and a delegation from the group is scheduled to visit Cairo on Monday for talks, according to a Hamas official who spoke to Reuters.

Persons: Sameh Shoukry, CNBC's Dan Murphy, Shoukry Organizations: Egypt's, Reuters Locations: Israel, Gaza, Riyadh, Saudi Arabia, United States, Washington, Cairo

☆ Watch CNBC's full interview with OPEC Secretary General Haitham al Ghais
▼ + 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 EmailWatch CNBC's full interview with OPEC Secretary General Haitham al GhaisHaitham Al Ghais, OPEC Secretary-General, speaks to CNBC's Dan Murphy the World Economic Forum in Riyadh about OPEC’s response to the war in Gaza, Iran sanctions and other major energy issues.

Persons: Haitham al, Al, CNBC's Dan Murphy Organizations: World Economic Locations: Al Ghais, Riyadh, Gaza, Iran

☆ Hamas to consider ceasefire-hostage release proposal that Israeli sources say could avert Rafah invasion
▼ + stars: | 2024-04-29 | by ( Becky Anderson | Jeremy Diamond | ) edition.cnn.com time to read: +8 min

A working-level Israeli delegation of Mossad, Shin Bet and the Israeli military officials is expected to travel to Cairo on Tuesday, the Israeli source and another Israeli official said. Hamas has insisted that a permanent ceasefire and a full Israeli withdrawal from Gaza should be part of the agreement. But Israeli sources have characterized the latest Egyptian effort to broker a deal as the last chance to avert that offensive. “The only chance to stop Rafah is a deal,” the Israeli source familiar with the negotiations said. Twenty people, including at least one infant and a toddler, died following an Israeli airstrike over Rafah, Gaza, overnight into Monday, according to hospital officials.

Persons: Shin Bet, Yahya Sinwar, Antony Blinken, ”, Børge Brende, “, Sameh Shoukry, Israel, ” Shoukry, Blinken, John Kirby, Biden, we’ve, “ They’ve, Benjamin Netanyahu, Joe Biden, Mahmmoud Basal, Hijazi Organizations: Jerusalem CNN, CNN, Mossad, Hamas, Economic, White, National Security Council, US, ABC, Israeli, Gaza Civil Locations: Riyadh, Jerusalem, Egypt, Israel, Gaza, Rafah, United States, Cairo, Saudi, “, Israeli, Rafah “, Gaza City

☆ 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

☆ JPMorgan’s calls for a reality check on energy transition are sensible, UAE energy minister says
▼ + stars: | 2024-04-29 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

JPMorgan's calls for a "reality check" on the world's energy transition goals and pathway is a "sensible," the UAE's energy minister told CNBC. "We need always, whenever we put up predictions, especially long term ones, to have a reality check," Suhail Al Mazrouei told CNBC's Dan Murphy in Riyadh, Saudi Arabia on the sidelines of the World Economic Forum. In a recent note to client, JPMorgan warned that the world needed a "reality check" on its efforts to move from fossil fuels to renewables, pointing out that it could take "generations" to reach net-zero targets. "I think it's a very sensible article," said Al Mazrouei. The minister, however, highlighted that the circumstances and financial capabilities of each country on undertaking the energy transition goals will vary.

Persons: Al Mazrouei, CNBC's Dan Murphy Organizations: CNBC, Economic, JPMorgan Locations: Riyadh, Saudi Arabia, Ukraine

☆ Middle East Crisis Blinken Is Set to Meet With Top Middle East Diplomats on War
▼ + stars: | 2024-04-29 | by ( Edward Wong | ) www.nytimes.com time to read: +8 min

President Biden spoke with Prime Minister Benjamin Netanyahu on Sunday, three weeks after telling him that he could rethink U.S. support for Israel’s war in Gaza. An administration official said that about three-quarters of Mr. Biden’s nearly hourlong call to Mr. Netanyahu focused on the possible cease-fire and hostages deal. The two leaders also discussed hostage videos released by Hamas last week, including those showing two hostages with American citizenship. Israel, heeding pleas by Mr. Biden for restraint, fired back only a token counterattack, and both sides have indicated they want to avoid further escalation. With the immediate threat of a wider war seemingly fading, Mr. Biden and his team could shift their attention back to Gaza.

Persons: Biden, Benjamin Netanyahu, Antony J, Blinken, “ That’s, John F, Kirby, Biden’s, Netanyahu, Israel, Mr, Biden “, “, Bernie Sanders, ”, Yahya Sinwar, ” Edward Wong Organizations: Israel, Hamas, State Department, Mr, Economic, White, ABC, Biden, American, ”, CNN, “, U.S Locations: Gaza, Rafah, Washington, Saudi Arabia, Riyadh, Jordan, Israel, ”, U.S, Vermont, “ State, Iran

☆ Watch CNBC's full interview with Egypt's foreign minister on the war in Gaza
▼ + 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 EmailWatch CNBC's full interview with Egypt's foreign minister on the war in GazaEgypt's foreign minister, Sameh Shoukry, speaks to CNBC's Dan Murphy at the World Economic Forum in Riyadh about cease-fire talks between Israel and Hamas and Egypt’s humanitarian aid efforts.

Persons: Sameh Shoukry, CNBC's Dan Murphy Organizations: Economic Locations: Gaza, Riyadh, Israel

☆ WEF president: Gaza crisis is at the 'core' of Middle East tensions
▼ + stars: | 2024-04-28 | 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 EmailWEF president: Gaza crisis is at the 'core' of Middle East tensionsBorge Brende, World Economic Forum president, discusses geopolitical tensions between Israel and Iran and the Israel-Hamas war on the sidelines of a special WEF meeting in Riyadh. Saudi Arabia.

Persons: Borge Brende Organizations: Economic Locations: Gaza, Israel, Iran, Riyadh, Saudi Arabia

☆ Dubai property boss says floods were overexaggerated: 'Things like that happen in Miami regularly'
▼ + stars: | 2024-04-28 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Flash floods that formed led to water engulfing cars, in some areas fully submerging them, leading hundreds of drivers to abandon their vehicles on roads to escape the rising water levels. The deluge also closed schools and businesses, grounded hundreds of flights, and destroyed cars, businesses and other property. Damac's Sajwani conceded there was chaos at the airport, but said the UAE had recovered much faster than other nations would have. "Fine, we get some, in one of the malls, some damage. He explained that he arrived in Dubai from London just a few hours after the rains had stopped, and visited all the major properties that belong to his company.

Persons: Hussain Sajwani, Damac's Sajwani, CNBC's Dan Murphy, it's Organizations: Damac, United, UAE, Energy Locations: United Arab, UAE, Riyadh, Saudi Arabia, Dubai, London

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