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☆ Esports World Cup in Saudi Arabia, worth more than $60M, hopes to send ‘positive message’ to struggling industry
▼ + stars: | 2024-04-16 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Boasting the largest prize pool in esports history, this year’s inaugural 2024 Esports World Cup (EWC) could prove to be a pivotal moment for the industry. Clubs will be able to choose which games they participate in before the best performing team across the various championships will be crowned the ultimate Esports World Cup champion for the very first time. Ralf Reichert, CEO of the Esports World Cup Foundation, hopes this new competition in Saudi Arabia can be a game changer. “Setting the record for largest esports prize pool is a remarkable achievement, but what I’m most proud of is the positive message this sends to the wider esports and gaming community,” Reichert said in a statement. In 2023, Saudi launched ‘The National Gaming and Esports Strategy’ (NGES) which hopes to make the country the center of the competitive gaming world by 2030.

Persons: Ralf Reichert, ” Reichert, Saudi Arabia –, “, Prince Mohammed bin Salman, ” Organizations: CNN, Apex, EA Sports FC, of, League, Riot, New York Times, Saudi Arabia’s Public Investment Fund, Saudi, National Gaming, Saudi’s, New Global Sport Locations: Riyadh, Saudi Arabia, Saudi

☆ Narendra Modi: India’s popular but controversial leader seeking a transformative third term
▼ + stars: | 2024-04-15 | by ( Rhea Mogul | ) edition.cnn.com time to read: +26 min

Varanasi and New Delhi CNN —Indian Prime Minister Narendra Modi once famously made a simple election promise: “good days are coming”. India's Prime Minister Narendra Modi addresses his supporters during an election campaign rally in Pushkar on April 6, 2024. 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. 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: Narendra Modi, Modi, Himanshu Sharma, Getty Images Modi, –, ”, Saba Naqvi, “, Vajpayee, Naqvi, Dileep Patel, John Mees, Akash Jaiswal, “ We’ve, ” Jaiswal, isn’t, 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, Patel, India’s, Jawaharlal Nehru, Indira Gandhi, Rajiv, Rahul Gandhi, Nilanjan Mukhopadhyay, “ Narendra Modi, ” Mukhopadhyay, Mukhopadhyay, ” Modi, Keshav Baliram, “ Modi, BJP Modi, Lord Ram, ” Naqvi, Critics, Christophe Jaffrelot, Karan Thapar, ” Jaffrelot, Modi’s, it’s, —, Raj, India Narendra Modi, Kenny Hoston, Ram, ” Raniva, That’s Organizations: New Delhi CNN, Indian, Bharatiya Janata Party, BJP, India's, Getty Images, Pew, CNN, World Health Organization, New York Times, Rashtriya Swayamsevak Sangh, Getty, Modi, Hospital, Narendra, India Today, Indian National Congress, 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, Cambridge, today’s Congress Party, Harvard, The Times, Muslim, Australia Locations: Varanasi, New Delhi, Gujarat, Pushkar, India, “ India, United States, Brazil, “, Sydney, Australia, Ahmedabad, Ahmadabad, 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, Oxford, Vadnagar, Babri, Kadi, Kashmir, United Kingdom, Russia, Ukraine, Israel, Ghaziabad, Meerut, Jama

☆ Take a closer look at the main regions of Neom, Saudi's epic megacity project
▼ + stars: | 2024-04-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

Saudi Arabia is plowing on with its ambitious Neom project, despite reported setbacks. Here's a closer look at the main regions that officials plan to build as part of the project. AdvertisementSaudi Arabia's futuristic Neom project is one of the most ambitious in the world. According to Neom, the city will have no roads, cars, or emissions and run on 100% renewable energy. SindalahThe island of Sindalah, a yachting resort and part of the Neom project, will be open in 2024, say planners.

Persons: Here's, —, Neom, Denis Hickey, " Hickey, Saudi Arabia's Crown Prince Mohammed bin Salman, NEOM Organizations: Service, Street Journal, Bloomberg, Saudi Arabia's Crown Locations: Saudi Arabia, Saudi, Tabuk, Kingdom, Neom, Sindalah, Aqaba, Tabak Province

☆ Trump recently spoke to his old 'friend,' Saudi Crown Prince Mohammed bin Salman, the NYT reports
▼ + stars: | 2024-04-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Former President Donald Trump recently spoke to Saudi Crown Prince Mohammed bin Salman, per the NYT. Trump once called the Saudi ruler "a friend of mine" whom he'd protected from congressional scrutiny. AdvertisementFormer President Donald Trump recently spoke to his old "friend" and de facto ruler of Saudi Arabia, Saudi Crown Prince Mohammed bin Salman, The New York Times reported on Wednesday. Related storiesThat Trump has carried on his relationship with the Saudi ruler isn't too surprising. AdvertisementTrump also claimed that he'd protected the Saudi Crown Prince from congressional scrutiny following the brutal murder of American journalist Jamal Khashoggi at the Saudi Consulate in Istanbul in 2018.

Persons: Donald Trump, Prince Mohammed bin Salman, Trump, —, Trump's, isn't, Jared Kushner, Jamal Khashoggi, Bob Woodward Organizations: MBS, Saudi Consulate, Service, The New York Times, White, The Times, Times, Representatives, Trump, Saudi, Trump Organization, Reuters, Business Insider Locations: Saudi, American, Saudi Arabia, Oman, Istanbul

☆ Trump Spoke Recently With Saudi Leader
▼ + stars: | 2024-04-03 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump spoke recently with Saudi Arabia’s de facto ruler, Prince Mohammed bin Salman, their first publicly disclosed conversation since Mr. Trump left office in January 2021, according to two people briefed on the discussion who were not authorized to speak publicly about it. It was unclear what the two men discussed and whether it was their only conversation since Mr. Trump’s departure from the White House. Neither representatives for Mr. Trump nor an official of the Saudi government responded to requests for comment. If President Biden manages to clinch a trilateral megadeal — which would probably include a Saudi-Israeli peace agreement, an Israeli commitment to a two-state solution, a U.S.-Saudi defense treaty and U.S.-Saudi understandings on a civilian nuclear program in Saudi Arabia — he will need support from two-thirds of senators to ratify the U.S.-Saudi treaty. Mr. Trump, as the presumptive Republican nominee in firm command of his party, could potentially either block any deal or greenlight it for congressional Republicans.

Persons: Donald J, Trump, Prince Mohammed bin Salman, Trump’s, Biden, Saudi Arabia — Organizations: Mr, U.S ., Republican, Republicans Locations: Saudi, Israel, U.S, Saudi Arabia

☆ A 'Dragon Ball' theme park is Saudi Arabia's latest attempt to become the world's playground. Some fans aren't happy.
▼ + stars: | 2024-03-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

A huge new "Dragon Ball" theme park is coming to Saudi Arabia, the franchise owner said. AdvertisementA massive theme park devoted to "Dragon Ball" is due to be built in Saudi Arabia. The owners of the Dragon Ball franchise announced Friday that Saudi Arabia's Qiddiya Investment Company would begin building the only theme park in the world devoted to "Dragon Ball," the hugely popular manga series. On one "Dragon Ball" fan subreddit, the news was greeted with comments like: "I'd prefer not to give the Saudis my money." AdvertisementThe news of the theme park came only weeks after the death of "Dragon Ball" creator Akira Toriyama, who died on March 8 aged 68.

Persons: —, Goku, Mohammed bin Salman's, Dragon, Prince Mohammed, Jamal Khashoggi, Akira Toriyama Organizations: Service, Ball, Saudi, Qiddiya Investment Company, Human Rights Watch, Business Locations: Saudi Arabia, Saudi, Qiddiya City, Riyadh, Turkey

☆ Saudi Arabia is building the world's first Dragon Ball Z theme park
▼ + stars: | 2024-03-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Visitors try out the latest version of Dragon Ball Z Kakarot at the 2019 Gamescom gaming trade fair in Cologne, Germany. Saudi Arabia is set to become home to the first-ever Dragon Ball Z theme park — a 5.3 million square foot entertainment venue announced as part of the kingdom's huge Qiddiya project. Five of the rides at the Dragon Ball Z theme park will be "world firsts," according to the release, one of which will be a 230-foot-high roller coaster called Shenron, named after the series' magical dragon. Vision 2030, the name of this project, a brainchild of Saudi Crown Prince Mohammed bin Salman, has also set a target of 150 million tourists visiting the kingdom annually by 2030. Tourism reached a record for the country in 2023 at 106 million, according to its tourism ministry — an increase of 56% from 2019.

Persons: Prince Mohammed bin Salman, It's Organizations: Toei Animation, Saudi, Public Investment Fund, Nintendo, Tourism Locations: Cologne, Germany, Saudi Arabia, Japan, Riyadh —, Riyadh, City

☆ What we know about the Moscow concert hall attack
▼ + stars: | 2024-03-23 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +9 min

Nearly a dozen people have been detained in connection with the attack, which saw armed assailants storm a popular concert venue complex on the outskirts of the capital, killing more than 130 people. An unnamed male witness who survived the attack said the gunmen entered the concert hall and “started shooting everyone.”“I was sitting in the hall upstairs where the balconies were. Law enforcement officers outside the burning Crocus City Hall concert venue following the attack on Friday. The United States had previously warned Moscow that ISIS militants were determined to target Russia in the days before assailants stormed the concert hall. Video Ad Feedback ISIS claims responsibility for attack in busy Moscow-area concert hall 05:22 - Source: CNNWhat else is Russia saying?

Persons: “, ”, Molotov, Yulia Morozova, Andrey Vorobyov, ” Vorobyov, Olga Maltseva, Amaq, Adrienne Watson, Putin, people’s, Alexander Bortnikov, Maria Zakharova, David Cameron, Olaf Scholz, Emmanuel Macron, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Xi Jinping, Antonio Guterres Organizations: CNN, Attackers, Ostorozhno Novosti, Reuters, Crocus City, Russian Emergencies Ministry, Hall, Russia’s, Authorities, Getty, ISIS, SITE Intelligence Group, Islamic, SITE, United, US National Security, RIA Novosti, RIA, Russian Security Service, Russian Foreign, ”, Ukrainian Foreign Ministry, Kremlin, Ukrainian Defense Intelligence, British, India’s, Saudi Arabia’s Crown, United Nations Security Council Locations: Russia, Crocus, Moscow, AFP, Islamic State, United States, ”, Ukraine, ” Ukraine

☆ Putin scores a resounding win, but what’s next for Russia?
▼ + stars: | 2024-03-17 | by ( Nathan Hodge | ) edition.cnn.com time to read: +17 min

Sovfoto/Universal Images Group via Getty Images Putin poses for a picture with his wife, Lyudmila, and daughters, Yekaterina and Maria. Brooks Kraft LLC/Corbis via Getty Images Putin rides a horse during a vacation in Southern Siberia in August 2009. Dmitry Astakhov/RIA Novosti/AFP via Getty Images Putin plays with his dogs Yume, left, and Buffy at his home in Novo-Ogaryovo, Russia, in March 2013. Chris McGrath/Getty Images Putin and Saudi Arabia's Crown Prince Mohammed bin Salman attend the G20 summit in Buenos Aires in November 2018. Getty Images Putin speaks with American right-wing pundit Tucker Carlson during an interview in February 2024.

Persons: Vladimir Putin, Putin, ”, Dmitry Kiselyov, Mikhail Mishustin, Ukraine –, Kiselyov, “, Maria Putina, Archivio GBB, ZUMA Press Wire Putin, Laski, Maria, Vladimir, Anatoly Sobchak, Lyudmila, Yekaterina, Boris Yeltsin, Yeltsin, Fidel Castro, Reuters Putin, George W, Bush, Stephen Jaffe, Camp David, Brooks Kraft, Alexey Druzhinin, Alexey Nikolsky, Mikhail Metzel, Ivan Sekretarev, AP Putin, Dmitry Medvedev, Dmitry Astakhov, Buffy, Angela Merkel, Jochen Lübke, Thomas Bach, Medvedev, Vladimir Konstantinov, Alexei Chalyi, Sergei Aksyonov, Sergei Ilnitsky, Kirill Kudryavtsev, Alexander Lukashenko, Merkel, Francois Hollande, Petro Poroshenko, Mykola Lazarenko, Barack Obama, Ban, Chip Somodevilla, Turkey Andrei Karlov, Karlov, Donald Trump, Chris McGrath, Saudi Arabia's Crown Prince Mohammed bin Salman, LUDOVIC MARIN, Emmanuel Macron, Volodymyr Zelensky, Eliot Blondet, Joe Biden, Antony Blinken, Biden, Sergey Lavrov, Denis Balibouse, Macron, Sergey Ponomarev, Mikhail Gorbachev, —, Alexander Nemenov, Alexey Danichev, Xi Jinping, Pavel Byrkin, Yevgeny Prigozhin, Wagner, Prigozhin, Pavel Bednyakov, Kim Jong Un, Kim, Tucker Carlson, Zuma Press Putin, Maxim Shemetov, – what’s, Alexey Navalny, Navalny, ” Putin Organizations: CNN, coy, Kremlin, Getty, Russian, ZUMA Press, Putin, KGB, ZUMA Press Wire, Getty Images, Reuters, US, White House, Camp, Brooks, Brooks Kraft LLC, RIA Novosti, AP, AFP, International Olympic, Crimean, Ukrainian, United Nations, UN, Assembly, Russian Foreign Ministry, Sputnik, World, Saudi Arabia's Crown, Macron, SPUTNIK, New York Times, Central Clinical Hospital, AP Putin, Belarus, State Russian Museum, AP North Korean, Vostochny, Tucker Carlson Network, Zuma Press Locations: Russia, Ukraine, Putin Russia, Russian, Bakhmut, St . Petersburg, Leningrad, Germany, Moscow, AFP, Kazan, Cuba, Soviet Union, Southern Siberia, Russia's Tver, Novo, Ogaryovo, Hanover, Sevastopol, Crimea, Belarusian, Minsk, Belarus, France, Turkey, Helsinki, Finland, Buenos Aires, Ukrainian, Paris, Geneva, Switzerland, Taganrog, Luhansk, Donetsk, Kherson, Zaporizhzhia, Tsiolkovsky, Russia's, North Korea, United States

☆ Steve Mnuchin breaks out the checkbook
▼ + stars: | 2024-03-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Mnuchin rebornNine months after President Joe Biden was inaugurated and Mnuchin left the Treasury Building, Mnuchin formed a new private equity group, Liberty Strategic Capital. Steven Mnuchin's private equity firm made a $450 million investment in New York Community Bank last week. When Mnuchin left CIT less than two years later, he received a $10.9 million severance package. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told visibly stunned anchors on CNBC Thursday morning. Mnuchin may be the founder and managing partner of Liberty Strategic Capital, but Saudi Arabia is reportedly covering a big chunk of his firm’s tab.

Persons: Donald Trump’s, Steven Mnuchin, Mnuchin, Joe Biden, Jackie ”, Trump, Goldman Sachs, ”, Liberty, Steven Mnuchin's, Spencer Platt, “ It’s, ” Mnuchin, “ You’re, ” Andrew Ross Sorkin, ” interjected, TikTok, “, he’s, Will Lanzoni, Crown Prince Mohammed bin Salman Organizations: New, New York CNN, Treasury, Liberty Strategic Capital, Lionsgate, New York Community Bank, Getty, Federal Deposit Insurance Corporation, CIT Group, CIT, CNBC, CNN, Senate, Liberty Strategic, Crown, New York Times, Saudi Public Investment Fund, Meta, ByteDance . Liberty Strategic Locations: New York, cybersecurity, New, California, China, Montana, Saudi Arabia, Saudi, ByteDance

☆ Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June
▼ + stars: | 2024-03-03 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023Heavyweights Saudi Arabia and Russia, alongside several other key OPEC+ producers, will extend their voluntary crude supply cuts until the end of the second quarter. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing an official source from the country's Ministry of Energy. Riyadh's crude production will be approximately 9 million barrels per day until the end of June, the announcement said. Back in November, OPEC+ countries had held a formal policy of collectively reducing their output by 2 million barrels per day until the end of 2024. Unlike formal policy changes, voluntary cuts do not require the group's unanimous consent during an official meeting and bypass the need to distribute production cuts or increases among OPEC+ members.

Persons: Energy Prince Abdulaziz bin Salman al, Saud, Alexander Novak, —, Prince Abdulaziz bin Salman Organizations: Saudi, Energy, OPEC, Organization for, Petroleum, Saudi Press Agency, country's Ministry of Energy, Tass, Moscow, Google, INA, Hamas, Saudi Energy Locations: Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, Russian, Iraq, UAE, Iran, Gaza, China, Aramco

☆ Saudi sovereign wealth fund to partner with men's tennis tour
▼ + stars: | 2024-02-28 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Saudi Arabia's Public Investment Fund will become the official naming partner of the ATP Rankings and will partner with ATP Tour tennis events, including Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals under a multi-year partnership announced Wednesday. "Our strategic partnership with PIF marks a major moment for tennis. It's a shared commitment to propel the future of the sport," ATP CEO Massimo Calvelli said in a press release. A deal to merge the PGA Tour and the Saudi-backed LIV tour is still in negotiations and there is no deadline for the talks to end. The PIF launched the LIV tour in 2022, luring away top stars from the PGA Tour, including Phil Mickelson, Dustin Johnson and Brooks Koepka, with hundreds of millions in signing bonuses.

Persons: Hamad Medjedovic, Arthur Fils of, Massimo Calvelli, LIV, Phil Mickelson, Dustin Johnson, Brooks Koepka, Crown Prince Mohammed bin Salman, Mohamed AlSayyad Organizations: King Abdullah Sports City, Saudi Arabia's Public Investment Fund, ATP, ATP Tour, PGA Tour, PIF, LIV, PGA, Saudi, Crown, U.S Locations: Serbia, Arthur Fils of France, Jeddah, Saudi Arabia, Saudi, Indian Wells, Miami, Madrid, Beijing

Toeing the line in Miami BeachAmerica’s corporate elite were everywhere in Miami at the Future Investment Initiative conference, Saudi Arabia’s latest bid to showcase its extensive wealth and deepen ties with Western business. DealBook’s Lauren Hirsch was on hand to report on the financiers and Hollywood A-listers who made the trip. The Saudis are using their vast oil wealth to become one the world’s biggest investors and forge closer relationships with Wall Street, Silicon Valley and more. (So too did former Trump officials including Steven Mnuchin, the former Treasury secretary; Mike Pompeo, a previous secretary of state; and Jared Kushner, Trump’s son-in-law.) Attendees mingled over wine, which is banned in Saudi Arabia, and Carbone’s spicy rigatoni.

Persons: Jamal Khashoggi —, Prince Mohammed bin Salman, DealBook’s Lauren Hirsch, Steve Schwarzman, Blackstone, Barry Sternlicht, Alex Karp, Brian Grazer, Gwyneth Paltrow, Steven Mnuchin, Mike Pompeo, Jared Kushner, Trump’s Organizations: Future Investment Initiative, Saudi, Hollywood, Starwood, Palantir, Trump, Treasury Locations: Miami Beach, Miami, Silicon Valley, Saudi Arabia

☆ Claressa Shields defeats Kelsey De Santis to make MMA history in Saudi Arabia
▼ + stars: | 2024-02-25 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Undefeated boxing champion Claressa Shields made history in another sport on Saturday, as she made her return to mixed-martial arts (MMA). The 28-year-old earned a split decision win over Kelsey De Santis in what was the first professional female MMA bout held in Saudi Arabia. In January, Hattan Alsaif made history as the first Saudi woman to join a global MMA promotion. Saudi Crown Prince Mohammed bin Salman previously said he doesn’t “care” about the country’s investment in sport being described as sportswashing. Shields and De Santis were fighting on the undercard of the PFL vs Bellator event, promoted by Bellator MMA and the Professional Fighters League.

Persons: Claressa Shields, Kelsey De Santis, “, Shields, Abigail Montes, Cooper Neill, De, Hattan Alsaif, LIV, Prince Mohammed bin Salman, De Santis Organizations: CNN, Saudi Pro League, Saudi, MBS, Fox News, PFL, Bellator, Bellator MMA, Professional Fighters League Locations: Saudi Arabia, De Santis, Saudi

☆ 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

☆ 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

NEW YORK (AP) — Jared Kushner, Donald Trump’s former White House adviser and his son-in-law, defended on Tuesday his business dealings after leaving government with the Saudi crown prince who was implicated in the 2018 killing of Washington Post columnist Jamal Khashoggi. After Kushner left the White House, he started a private equity firm that received a reported $2 billion investment from the sovereign wealth fund controlled by Prince Mohammed, drawing scrutiny from Democrats. He dismissed the idea of there being any concerns about the appearance of a conflict of interest in his business deal. He also defended Prince Mohammed when asked if he believed U.S. intelligence reports that the prince approved the 2018 killing of Khashoggi, a Saudi dissident and Washington Post columnist. Kushner said he had not seen the intelligence report released in 2021 that concluded the crown prince likely approved Khashoggi’s killing inside the Saudi consulate in Istanbul.

Persons: — Jared Kushner, Donald Trump’s, Jamal Khashoggi, Kushner, Trump, Saudi Arabia’s Crown Prince Mohammed bin Salman, Prince Mohammed, ” Kushner, Khashoggi, “, ”, Joe Biden Organizations: House, Washington Post, Saudi Arabia’s Crown, White, Nintendo, Microsoft, Trump Locations: Saudi, Miami, America, Istanbul, Florida

☆ Saudi energy minister pins Aramco's oil capacity halt on green transition
▼ + stars: | 2024-02-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. And transitioning means that even our oil company, which used to be an oil company, became a hydrocarbon company. The Saudi energy minister on Monday qualified the decision was not made hastily and was the product of a continuous review of market conditions. "Why should we be the last country to hold energy capacity, or emergency capacity, when it is not appreciated? the Saudi energy minister said.

Persons: Abdulaziz bin Salman Organizations: Bloomberg, Getty, Aramco, Energy, International Petroleum Technology, Monday, of, Petroleum Locations: Aramco, Saudi, Dhahran, Saudi Arabia, Riyadh, Moscow

☆ Blinken holding crucial meetings in Israel as efforts to free hostages and halt Gaza fighting intensify
▼ + stars: | 2024-02-07 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +6 min

CNN —US Secretary of State Antony Blinken is in Israel Wednesday for meetings with key government officials to press for a “humanitarian pause” as international and domestic US pressure to end the conflict in Gaza continues to mount. Blinken met with Israeli Prime Minister Benjamin Netanyahu for a little over an hour. He is meeting with Israel Defense Forces chief of staff Herzi Halevi and set to meet with other key officials. “There’s still a lot of work to be done, but we continue to believe that an agreement is possible and, indeed, essential. And we will continue to work relentlessly to achieve it,” Blinken said at a news conference in Doha Tuesday.

Persons: Antony Blinken, Blinken, Benjamin Netanyahu, Herzi Halevi, “ There’s, ” Blinken, Biden, Joe Biden, ”, Netanyahu, ’, “ We’re, Saudi Crown Prince Mohammed bin Salman, Prince, Israel, we’ll Organizations: CNN, Israeli, Israel Defense Forces, Hamas, Doha Tuesday, State Department, Monday, Palestinian Authority, Saudi Crown, Doha Locations: Israel, Gaza, Tel Aviv, Iranian, Iraq, Syria, United States, Rafah, Saudi Arabia, Egypt, Qatar, ”, Palestinian

☆ Top US Diplomat Blinken Arrives in Saudi, First Stop on Mideast Trip
▼ + stars: | 2024-02-05 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - U.S. Secretary of State Antony Blinken arrived in Saudi Arabia on Monday, his first stop in a wider tour of the Middle East as Washington tries to advance negotiations on a normalization deal between the Kingdom and Israel as well as make progress on talks for the governance of postwar Gaza. The top U.S. diplomat’s fifth trip to the region since Hamas’ deadly Oct. 7 attack comes at a perilous moment and amid retaliatory U.S. strikes on Iran-backed militia across Syria, Iraq and Yemen in response to a drone strike last week in Jordan that killed three American troops and wounded dozens. Blinken is also set to visit Egypt, Qatar and Israel later this week and push to advance the Egyptian- and Qatari-mediated conversations with Hamas to achieve a hostage deal. In Riyadh, Blinken was expected to meet with the Kingdom’s de-facto ruler, Crown Prince Mohammed bin Salman, as well as his Saudi counterpart, foreign minister Prince Faisal bin Farhan Al Saud. War in Israel and Gaza View All 194 Images(Reporting by Humeyra Pamuk; Editing by Doina Chiacu)

Persons: Antony Blinken, Blinken, Prince Mohammed bin Salman, Prince Faisal bin Farhan Al Saud, Humeyra Pamuk, Doina Chiacu Organizations: WASHINGTON, Washington, Saudi Locations: Saudi Arabia, East, Kingdom, Israel, Gaza, Iran, Syria, Iraq, Yemen, Jordan, Egypt, Qatar, Riyadh

Secretary of State Antony J. Blinken began a diplomatic push in the Middle East on Monday for a deal that would pause the war in the Gaza Strip and release the hostages there, even as a drone struck a military base used by American troops and allied forces in eastern Syria. Mr. Blinken, making his fifth trip to the region since the Oct. 7 attack on Israel, met in Riyadh with Saudi Arabia’s crown prince, Mohammed bin Salman, in the first stop on a trip that will also include meetings in Egypt, Qatar, Israel and the West Bank. Speaking with the crown prince, the kingdom’s de facto ruler, Mr. Blinken “underscored the importance of addressing humanitarian needs in Gaza and preventing further spread of the conflict,” the State Department said. It added that they discussed “an enduring end to the crisis in Gaza that provides lasting peace and security for Israelis and Palestinians alike.”

Persons: Antony J, Blinken, Mohammed bin Salman, Blinken “, ” Organizations: West Bank, State Department Locations: Gaza, Syria, Israel, Riyadh, Saudi, Egypt, Qatar

☆ 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

☆ PGA Tour secures up to $3 billion from U.S. investors as LIV Golf merger hangs in the balance
▼ + stars: | 2024-01-31 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017. A U.S. consortium has agreed to invest up to $3 billion into the PGA Tour, the professional golf organization announced on Wednesday. Under the terms of the deal, the investor, Strategic Sports Group, will become a minority owner in PGA Tour enterprises, the for-profit entity of the PGA Tour. "Today marks an important moment for the PGA Tour and fans of golf across the world," PGA Tour Commissioner Jay Monahan said. "By making PGA Tour members owners of their league, we strengthen the collectives investment of our players in the success of the PGA Tour," Monahan said.

Persons: LIV, PIF, Jay Monahan, " Monahan, Fenway Sports Group's John Henry, Arthur Blank, Steve Cohen, Tom Ricketts, Wyc Grousbeck, John Henry, Monahan, Henry, Yasir Al, Rumayyan, Critics, Prince Muhammad bin Salman, LIV Golf, Phil Mickelson, Dustin Johnson, Brook Koepka, John Rahm Organizations: PGA Tour, Strategic Sports Group, Saudi, PGA, Fenway Sports, Atlanta Falcons, Arthur Blank , New York Mets, Chicago Cubs, Boston Celtics, Fenway Sports Group, Saudi Public Investment Fund, Saudi Public Investment, CNBC, Justice Department Locations: Cromwell , Connecticut, U.S, Arthur Blank ,, Saudi Arabia, Saudi

Saudi Arabia began hosting the men’s tour’s Next Gen ATP Finals for top 21-and-under players in Jedda last year in a deal that runs through 2027. And the WTA has been in talks to place its season-ending WTA Finals in Saudi Arabia. If so, we would endorse engagement there.”Another Hall of Fame player, Billie Jean King, has said she supports the idea of trying to encourage change by heading to Saudi Arabia now. “I’m a huge believer in engagement," King, a founder of the WTA and an equal rights champion, said last year. In recent years, Saudi Arabia has enacted wide-ranging social reforms, including granting women the right to drive and largely dismantling male guardianship laws that had allowed husbands and male relatives to control many aspects of women’s lives.

Persons: of Famers Chris Evert, Martina Navratilova, Rafael Nadal, ”, Evert, Navratilova, Billie Jean King, Prince Mohammed bin Salman, Jamal Khashoggi, Coco Gauff, John Pye, ___ Organizations: of Famers, WTA, The Washington, Saudi Tennis Federation, Rafael Nadal Academy, Fame, Washington Post, Authorities, ” Locations: Saudi Arabia, The, Saudi, East, Jedda, ” U.S, Melbourne, Australia

JERUSALEM (AP) — A liquor store has opened in Saudi Arabia for the first time in over 70 years, a diplomat reported Wednesday, a further socially liberalizing step in the once-ultraconservative kingdom that is home to the holiest sites in Islam. The store sits next to a supermarket in Riyadh's Diplomatic Quarter, said the diplomat, who spoke on condition of anonymity to discuss a socially sensitive topic in Saudi Arabia. Saudi Arabia remains one of the few nations in the world with a ban on alcohol, alongside its neighbor Kuwait and Sharjah in the United Arab Emirates. Saudi Arabia has banned alcohol since the early 1950s. As Saudi Arabia prepares for a $500 billion futuristic city project called Neom, reports have circulated that alcohol could be served at a beach resort there.

Persons: Prince Mohammed bin Salman, Jamal Khashoggi, King Abdulaziz, Prince Mishari, Cyril Ousman Organizations: JERUSALEM, Washington Post, Workers, Saudi, Arab News, Saudi Research, Media, U.S . State Department, United Locations: Saudi Arabia, Islam, Riyadh, Saudi, haram, Islam . Saudi Arabia, Kuwait, Sharjah, United Arab Emirates, Jeddah, Mecca, Neom

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