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☆ Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash
▼ + stars: | 2024-10-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia's capital Riyadh to attend the Future Investment Initiative (FII) forum. The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to 2.87 trillion Saudi riyals ($765.2 billion) in 2023 — and local investment was a major driver. "Value meaning hiring, developing the asset management ecosystem, creating new products, bringing in talent, and investing in Saudi capital markets also. Oil prices and the Saudi economy appear to so far have stayed largely unscathed, dropping 4% early Monday after Israel's weekend strike on Iran. A key reason for that may be the rapprochement deal the kingdom signed with Iran, brokered by China, in March 2023.watch now

Persons: Nureldine, it's, Omar Yacoub, Yacoub, Fadi Arbid, Brent, Arbid, Yemen's, Israel Organizations: King Abdulaziz Conference Centre, Future Investment Initiative, Afp, Getty, Investment Initiative, CNBC, U.S, ABS Global, Public Investment Fund, Saudi, Saudi Arabia's, Amwal Capital Partners, OPEC, Eastern, Ritz, Carlton, Israel Locations: Saudi Arabia's, Riyadh, Saudi, Saudi Arabia, —, Dubai, Carlton Riyadh, Gaza, Israel, Lebanon, Iran, Tel Aviv, China

☆ Dubai’s floods were made worse by climate change, scientists find
▼ + stars: | 2024-04-25 | by ( Angela Dewan | ) edition.cnn.com time to read: +5 min

Using scientific models, the team was unable to determine precisely how much more likely climate change had made the floods. Changing circulation patterns driven by global warming are also increasing rainfall intensity, the analysis noted. Global warming was the only remaining reason they could identify to explain the heavier downpour. However, the focus must be on slowing climate change, she added. “While we can’t stop El Niño, we can stop climate change,” Otto said.

Persons: Amr Alfiky, ”, Sonia Seneviratne, Mansour Almazroui, King Abdulaziz University’s, Friederike Otto, Niño, Otto said, El, ” Otto, Francois Nel, Sultan Al, Jaber, CNN’s Abbas Al Lawati Organizations: CNN, United Arab, United Arab Emirates, Global, Reuters “, Institute for Atmospheric, Science, King Abdulaziz University’s Center, Excellence, Change, Grantham Institute, International Energy Agency Locations: United Arab Emirates, Oman, El, Dubai, UAE, Dubai’s, Zurich, Jeddah, Saudi Arabia, London, Paris, deadlier

☆ Dream of the Desert: Saudi Arabia is launching its own luxury train
▼ + stars: | 2024-01-29 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +7 min

State-owned railway company Saudi Arabia Railways (SAR) recently struck a 200 million Saudi riyals ($53.33 million) deal with Italian hospitality company Arsenale Group to launch the first luxury train in the Middle Eastern kingdom. The destination has made a number of high-profile tourism investments in recent years – a $500 billion model city in the desert of northwest Saudi Arabia among them. Now Saudi Arabia is getting on board with the slow travel movement in a big way by moving into the luxury train market. Arsenale S.P.A./Saudi Arabia RailwaysSaudi Arabia’s decision to enter the luxury train market comes as demand for high-speed trains and luxury “rail cruises” continues to increase around the world. Infrastructure investmentA rendering of Dream of the Desert, which will be the first luxury train in the Middle Eastern kingdom.

Persons: Paolo Barletta, ” Barletta, S.P.A, Joe Biden, Dolce, ”, Luigi Corradi, King, Khalid al, Falih, Arsenale S.P.A, Bashar bin Khaled Al Malik, Al Malik, CNN’s Lilit Marcus, Ben Jones Organizations: CNN, State, Saudi Arabia Railways, Saudi, Arsenale Group, SAR, Saudi Arabia Railways Saudi, Reuters, “ Orient, Accor, Ferrovie dello Stato, Speed Railway, King Abdulaziz International, Saudi Arabia’s Investment, Projects, Saudi Railway Company, Orient Express, Orient Locations: Saudi Arabia, Saudi, Arabia’s, Riyadh, Qurayyat, Jordan, Hail, Italy, France, Italy’s, Mecca, Medina, Jeddah, Venice, London, Kyushu

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

☆ The Players Are the Trophies Now
▼ + stars: | 2023-06-09 | by ( Rory Smith | ) www.nytimes.com time to read: +1 min

Two things stood out about Karim Benzema’s arrival in Jeddah on Wednesday evening. From the second his private jet touched down at King Abdulaziz International Airport to the moment — an unspecified but apparently inordinate time later — that he finally made it out into the Saudi Arabian night, Benzema looked distinctly baffled. His smile did not waver, but nor did the slight hint of confusion in his eyes. Throughout, Benzema had the countenance of a man who had been recently startled. More striking still, though, was that every single step of his journey was being documented.

Persons: Karim Benzema’s, Benzema, Al, videographers, — Organizations: King Abdulaziz International Airport, Saudi Premier League Locations: Jeddah, Saudi, Ittihad, Al

☆ Jordan royals marry into Saudi family with ties to MBS
▼ + stars: | 2023-06-01 | by ( Celine Alkhaldi | ) edition.cnn.com time to read: +2 min

The bride is related to Saudi Arabia’s crown prince and de facto ruler, Mohammed bin Salman (MBS), through her mother, who hails from the prominent Al-Sudairi family. Jordan's Crown Prince Hussein and Rajwa Alseif sit during the wedding ceremony in Amman, Jordan on Thursday. Crown Prince Al Hussein bin Abdullah II of Jordan and Miss Rajwa Alseif. Ties between Saudi Arabia and Jordan have recently thawed after years of tension. During a trip to Jordan last year, MBS was quoted by Saudi media as saying that he was keen to “push relations [with Jordan] to a new phase.”

Persons: CNN —, Prince, Princess, Jill Biden, Prince Hussein bin Abdullah II, Alseif, Jordan, Crown Prince, Rajwa, Mohammed bin Salman, Prince Hussein, Rajwa Alseif, AP Saudi Arabia’s King Salman, King Abdulaziz, Hussa bint Ahmed Al, Katb Al, Prince Al Hussein bin Abdullah II of Jordan, Miss Rajwa Alseif Organizations: CNN, Syracuse University, Crown, Royal Hashemite Court, AP Saudi Arabia’s, Miss, Royal Hashemite, AP, MBS Locations: Saudi, Wales, Zahran, Jordanian, Amman, New York, Jordan's, Amman , Jordan, Saudi Arabia, Jerusalem, Russia, Jordan

☆ Syria's Assad to attend Arab summit, bringing isolation to an end
▼ + stars: | 2023-05-19 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Ostracised by most Arab states following the crackdown on protests against his rule in 2011 and the ensuing civil war that killed 350,000 people, his government's readmission to the bloc is a signal that Assad's isolation is ending. Assad is expected to address the summit later on Friday, along with other Arab leaders. A bipartisan group of U.S. lawmakers introduced a bill last week intended to bar U.S. recognition of Assad as Syria's president and enhance Washington's ability to impose sanctions. Government forces have used chemical weapons more than two dozen times during Syria’s civil war, U.N. war crimes investigators said. While Arab countries appear to have brought Assad in from the cold, they are still demanding that he curbs Syria's flourishing drugs trade and that war refugees be allowed to return.

☆ Syria's Assad to attend Arab summit, bringing regional isolation to an end
▼ + stars: | 2023-05-19 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +4 min

[1/2] Syria's President Bashar al-Assad arrives to attend the Arab League Summit in Jeddah, Saudi Arabia, May 18, 2023. Assad is expected to address the summit later on Friday, along with other Arab leaders. At an Arab summit hosted by Qatar a decade ago, the Syrian opposition sat in Syria's seat. A bipartisan group of U.S. lawmakers introduced a bill last week intended to bar U.S. recognition of Assad as Syria's president and enhance Washington's ability to impose sanctions. Government forces have used chemical weapons more than two dozen times during Syria's civil war, U.N. war crimes investigators said.

☆ The high-speed train in Saudi Arabia that connects Mecca and Medina
▼ + stars: | 2023-03-30 | by ( Lilit Marcus | ) edition.cnn.com time to read: +9 min

Jeddah, Saudi Arabia CNN —In the distant past, Muslim pilgrims came to the holy city of Mecca on foot. Haramain means “two sanctuaries” in Arabic, named for the holy cities of Mecca and Medina that sit on the line’s opposite ends. Business class passengers on the train can watch seat-back TVs. Even on a short journey like the one from Jeddah to KAEC, business class passengers are entitled to a full meal service. When it comes to high-speed railway, it seems as though the Haramain line is only the beginning in Saudi Arabia.

Persons: Tawfiq Al Rabiah, ” Al Rabiah, King Abdullah, King, Saudi riyals, Lilit Marcus, Foster, they’re, KAEC, isn’t, it’s, Umrah, Khalid al, Falih Organizations: CNN, Saudi Arabia CNN —, King Abdulaziz International Airport, King Abdullah Economic, King Abdullah Economic City, Saudi, CNN Station, Foster + Partners, du Nord, Getty, Saudi Gazette, Bandar, Saudi Railway Polytechnic, Saudi Arabia’s Investment Locations: Jeddah, Saudi Arabia, Mecca, Hajj, Medina, Jeddah’s, Jeddah Al, New York, Paris, du, Sulimaniyah, Bandar Aldandani, AFP, KAEC, umrah, Islam, Riyadh

☆ Investigators are looking for dozens of expensive gifts given to Trump and his family by foreign governments, report says
▼ + stars: | 2022-11-06 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Congressional investigators are looking for gifts given to Trump and his family by foreign governments. The House Oversight Committee has asked whether the gifts were transferred to the National Archives. The Oversight committee launched a probe this summer into whether Trump properly followed the Foreign Gifts and Decorations Act, which prevents government officials from keeping gifts from foreign governments with a value of over $415, unless they personally pay for them. Although there is no specific criminal penalty for improperly retaining the gifts, ethics experts say that it could be warranted depending on the circumstances, per The Post. The committee has also requested records from Trump's team about its record-keeping, a Trump adviser told the paper.

☆ The world's busiest international flight route carried more than 3.2 million passengers in the last year. See which other routes made the top 10.
▼ + stars: | 2022-10-14 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

Cairo International Airport, Egypt to Riyadh King Khalid International Airport, Saudi ArabiaSeats: 1,913,9918. Mumbai International Airport, India to Dubai International Airport, UAESeats: 1,977,5377. Orlando International Airport, USA to San Juan Luis Munoz Marin International Airport, Puerto RicoSeats: 2,099,2346. Kuala Lumpur International Airport, Malaysia to Singapore Changi AirportSeats: 2,443,176Dubai International Airport, UAE to London Heathrow Airport, UKSeats: 2,697,5933. Dubai International Airport, UAE to Riyadh King Khalid International Airport, Saudi ArabiaSeats: 3,191,0901.

☆ King Salman bin Abdulaziz Al-Saud Fast Facts
▼ + stars: | 2015-02-27 | by ( Cnn Editorial Research | ) edition.cnn.com time to read: +4 min

CNN —Here is a look at the life of Saudi King Salman bin Abdulaziz Al-Saud, who succeeded his half brother King Abdullah bin Abdulaziz on January 22, 2015. October 16, 2018 - US Secretary of State Mike Pompeo visits King Salman and Prince bin Salman in Riyadh to talk about Khashoggi’s death. Saudi officials maintain that King Salman and Prince bin Salman had no involvement. July 15, 2022 - US President Joe Biden visits King Salman and Prince bin Salman in Jeddah. Biden indicates to Prince bin Salman that he believes bin Salman was to blame for the killing of Khashoggi.

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