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☆ Saudi Arabia parts ways with the CEO of Neom, its new desert megacity
▼ + stars: | 2024-11-12 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The CEO of Neom, Nadhmi al-Nasr, has stepped down from the role after six years. Saudi Arabia's ambitious megacity scaled back targets earlier this year. AdvertisementThe CEO of Saudi Arabia's ambitious Neom project has abruptly stepped down after six years in the role. It's a key part of Saudi Arabia's Vision 2030 project that aims to diversify the kingdom's economy away from oil by launching new industries and attracting more tourists. Neom has also faced staffing challenges, with reports earlier this year that two executives were involved in a physical confrontation.

Persons: Nadhmi al, Nasr, Neom, —, Nadhmi, Aiman, Malcolm Aw, Abdul Rahim al, Antoni Vives Organizations: Service, Saudi, Street Journal, Public Investment Fund, Journal, Neom Locations: Saudi, Saudi Arabia

☆ SoftBank is betting on AI and an IPO revival after swinging to a $7.7 billion profit
▼ + stars: | 2024-11-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

SoftBank reported a $7.7 billion quarterly profit on Tuesday after a loss last year. SoftBank Vision Fund's CFO told BI that "macro tailwinds" helped its public portfolio. AdvertisementGains for its Vision Fund 1, a $98.6 billion investment vehicle launched in 2016 with backing from Abu Dhabi and Saudi Arabia's sovereign wealth funds, totaled $3 billion in the second quarter. Despite the investment gain, Vision Fund 2 has lost an overall total of $21 billion since its inception. The results come as SoftBank gears up for a huge investment spree in AI to realize Son's ambitious vision.

Persons: SoftBank, —, Masayoshi, Didi Chuxing, Navneet Govil, Ola, Govil, PayPay Organizations: Service, Funds, Vision, IPOs, Nvidia Locations: Abu Dhabi, Saudi, China, OpenAI, Mexico, India, ByteDance

☆ Boeing secured its first order after a 7-week strike — 80 737 Max jets
▼ + stars: | 2024-11-12 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Avia Solutions Group, which leases planes to airlines, ordered 80 Boeing 737 Max jets. Avia Solutions Group announced Tuesday that it ordered 80 Boeing 737 Max jets, evenly split between firm orders and purchase rights. AdvertisementThe incident saw a 737 Max lose a door plug mid-flight after the plane left Boeing's factory missing key bolts. The Federal Aviation Administration consequently limited Boeing's output of 737 Max aircraft to 38 a month until it implements a safety-and-quality plan. AdvertisementDelivery of ASG's Boeing jets is expected to start in 2030.

Persons: —, ASG, Brad McMullen, Max Organizations: Boeing, Avia Solutions, Max, Service, Avia, Airbus, Saudi Arabia's, Saudi Arabia's Riyadh Air, Bloomberg, Alaska Airlines, Federal Aviation Administration Locations: Saudi, Saudi Arabia's Riyadh

☆ How Trump could exploit a looming global struggle for rare-earth minerals
▼ + stars: | 2024-11-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

The power grab over rare-earth minerals in Central Asia could be among the issues he will seek to exploit. AdvertisementA power struggle over rare-earth mineralsAt stake for the US in Central Asia is not just political power but access to the region's reserves of rare-earth minerals such as uranium, lithium, and tantalum. Rare-earth minerals are needed to make all sorts of products, from F-35 stealth fighters and smartphones to internet fiber-optic cables and MRI machines. It produces around 60% of the world's rare-earth minerals and processes nearly 90%, according to the Center for Strategic and International Studies. "There are rare-earth minerals worth exploring/exploiting, and if the US/EU could strike a major deal with [Kazakhstan's capital] Astana, this would certainly contribute to breaking China's monopoly," said Wolff.

Persons: Donald Trump, —, Vladimir Putin, Xi Jinping, Xi, Putin, he'd, Wilder Alejandro Sánchez, ALEXANDER RYUMIN, Emmanuel Macron, Olaf Scholz, John Herbst, Stefan Wolff, Wolff, Herbst, Trump Organizations: Service, Putin, The Republican, Biden, Getty Images, Center for Strategic, International Studies, University of Birmingham, BI, Trump, EU, Astana, Central Asia Summit, Getty Images Central, Central, China Locations: Russia, China, Central Asia, Mongolia, Saudi, Getty Images China, Kazakhstan, Uzbekistan, Xian, Shaanxi, FLORENCE, Ukraine, Soviet Union, Washington, Moscow, Beijing

☆ Mohammed bin Salman: Saudi crown prince accuses Israel of committing ‘collective genocide’ in Gaza
▼ + stars: | 2024-11-12 | by ( Mostafa Salem | ) edition.cnn.com time to read: +2 min

CNN —Saudi Arabia’s Crown Prince Mohammed bin Salman has accused Israel of carrying out “collective genocide” in Gaza, in some of his strongest criticism of the country since the war began last year. Saudi Arabia strongly opposes Iran-backed militias such as Hezbollah and Hamas. Riyadh and Tehran repaired ties last year after decades of animosity over regional influence. Those attending the high-level meeting included Palestinian President Mahmoud Abbas, Lebanese caretaker Prime Minister Najib Mikati, Jordan’s King Abdullah II and Egyptian President Abdel Fattah el-Sisi. The conference was hosted by Saudi Arabia in Riyadh on November 11.

Persons: Saudi Arabia’s Crown Prince Mohammed bin Salman, Israel, Ayatollah Ali Khamenei, Adolf Hitler, Benjamin Netanyahu, Mohammad Reza Aref, General Hassan Nasrallah, Ismail Haniyeh, Yahya Sinwar, Mahmoud Abbas, Najib Mikati, Jordan’s King Abdullah II, Abdel Fattah el, Recep Tayyip Erdogan of, Bashar al, Assad of Organizations: CNN, Saudi Arabia’s Crown, Islamic, MBS, Iranian, Israeli Locations: Gaza, Saudi Arabia, Riyadh, Israel, Iran, Tehran, Recep Tayyip Erdogan of Turkey, Assad of Syria, Syria, ”

☆ FIFA must halt Saudi World Cup bid due to human rights issues, says Amnesty
▼ + stars: | 2024-11-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +5 min

FIFA must halt the process to pick Saudi Arabia as hosts of the 2034 World Cup unless major human rights reforms are announced before the vote next month, Amnesty International and the Sport & Rights Alliance (SRA) have said. A combined bid of Morocco, Spain and Portugal is the sole bid for 2030, while Saudi Arabia is the lone bidder for 2034. Amnesty and the SRA said they had evaluated the human rights strategies proposed by the bidding countries and concluded in a new report that neither bid adequately outlined how they would meet the human rights standards required by FIFA. “FIFA is implementing thorough bidding processes for the 2030 and 2034 editions of the FIFA World Cup,” a FIFA spokesperson said. However, it narrowly failed to win a seat on the United Nations Human Rights Council last month.

Persons: Steve Cockburn, Amnesty’s, “, ”, Hammad Albalawi, Cockburn, ” Cockburn Organizations: FIFA, Amnesty International, Sport & Rights Alliance, FIFA Congress, Amnesty, ” FIFA, Saudi, Britain’s Guardian, United Nations Human Rights Locations: Saudi Arabia, Morocco, Spain, Portugal, Australia, New Zealand, United States, Mexico, Canada, Brazil, Kingdom, Saudi, Qatar, Gulf

☆ Tennis Channel removes Jon Wertheim for 'inappropriate' remark about Barbora Krejcikova
▼ + stars: | 2024-11-11 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Longtime Tennis Channel commentator Jon Wertheim was been removed from air “indefinitely” after he made an “inappropriate comment” about tennis star Barbora Krejcikova, the network announced Sunday. The Tennis Channel said in a statement it became aware about the comment Wertheim made on Friday, and he was removed “immediately." That said, Tennis Channel holds its employees to a standard of respectfulness for others at all times, a standard that was not met in this moment,” the statement said. The network apologized to Krejcikova, as did Wertheim. Matthew Stockman / Getty ImagesWertheim shared a public apology on X, saying he made “some deeply regrettable comments off-air” during a Tennis Channel studio show on Friday.

Persons: Jon Wertheim, Barbora Krejcikova, Wertheim, “, “ Jon, Krejcikova, ” Barbora Krejcikova, Matthew Stockman, ”, I’ve, ” Krejcikova Organizations: Longtime Tennis, Tennis Channel, King Saud University Indoor, Getty, Tennis, Sports Illustrated, CBS Locations: Riyadh, Saudi Arabia

☆ Archaeologists locate centuries-old battle site in Iraq using declassified spy satellite images
▼ + stars: | 2024-11-11 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —Archaeologists have identified the site of an ancient battle in what is now Iraq by comparing historical accounts with declassified images from US spy satellites. Despite the fact that the battle marked a significant victory for Arab Muslims and enabled their expansion beyond Arabia, its precise location was not previously known. A map shows the newly discovered location of al-‘Udhayb and al-Qadisiyyah in southwestern Iraq — as well as the wall/canal linking the two sites — and the likely location of the Battle of al-Qadisiyyah. The Battle of al-Qadisiyyah saw a smaller Arab Muslim army defeat a much larger force from the Sasanian Empire, which dominated the region. After a few failed attempts, this was their “first really significant victory” in attempts to expand beyond Arabia, Deadman said.

Persons: Deadman, “, ” Deadman, Udhayb, ”, Qadisiyyah Organizations: CNN —, Durham University, University of Al, Geological Survey, Survey, CNN, Iraq —, ESA Locations: Iraq, United Kingdom, Qadisiyah, Arabia, Kufa, Mecca, Saudi Arabia, Najaf Governorate, al

☆ Amnesty International warns FIFA of ‘real and predictable human cost’ of awarding 2034 World Cup to Saudi Arabia
▼ + stars: | 2024-11-11 | by ( Ben Church | ) edition.cnn.com time to read: +7 min

CNN —Amnesty International has urged FIFA to halt the process of awarding Saudi Arabia the 2034 World Cup until major human rights reforms are announced. “FIFA is implementing thorough bidding processes for the 2030 and 2034 editions of the FIFA World Cup, in line with previous processes for the selection of hosts for the FIFA Women’s World Cup 2023 in Australia and New Zealand, the FIFA World Cup 2026 in the United States, Mexico and Canada and the FIFA Women’s World Cup 2027 in Brazil,” a FIFA spokesperson told CNN. Saudi Arabia is the only nation bidding for the 2034 World Cup. Yasser Bakhsh/Getty ImagesFollowing its investment in several sporting competitions, Saudi Arabia has outlined ambitious plans for the 2034 World Cup. “There will be a real and predictable human cost to awarding the 2034 World Cup to Saudi Arabia without obtaining credible guarantees of reform,” Cockburn added.

Persons: “, ”, Yasser Bakhsh, Steve Cockburn, ” Cockburn, Prince Mohammed bin Salman, Prince Abdulaziz bin Turki Al Faisal, FIFA ” Organizations: CNN, Amnesty, FIFA, Saudi, Amnesty International, Sport & Rights Alliance, Labour Rights, Human Rights Watch, Saudi Arabia Football Federation, Balkis Press, BBC Sport, ”, Moroccan, Portuguese Football Federation Locations: Saudi Arabia, Saudi, Spain, Portugal, Morocco, Australia, New Zealand, United States, Mexico, Canada, Brazil, Uruguay, Paraguay, Argentina, Casablanca, Spanish, Moroccan

☆ Silicon Valley's General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies
▼ + stars: | 2024-11-11 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million. General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap , Stripe and AirBnb . Lean Technologies' fundraising round also saw participation from Bain Capital Ventures, Stanley Druckenmiller's Duquesne Family Office, and Arbor Ventures, among others, bringing the Riyadh-based firm's total funding to over $100 million to date, according to a Sunday statement from the company. For three of those investors — General Catalyst, Stanley Druckenmiller and Bain Capital — this investment is their first in the kingdom. "If you look at the region's growth over the last three to five years, it's been phenomenal, but there is still so much more room for growth."

Persons: Catalyst, Stanley Druckenmiller's, Stanley Druckenmiller, Hisham Al, Falih, it's Organizations: Lean Technologies, Bain Capital Ventures, Stanley, Stanley Druckenmiller's Duquesne Family Office, Arbor Ventures, Bain Capital, CNBC Locations: Silicon, Saudi Arabia, U.S, Riyadh, Saudi

☆ The multi-billion dollar battle to host an F1 race is heating up
▼ + stars: | 2024-11-11 | by ( Chris Hawes | ) www.cnbc.com time to read: +3 min

Who will win a 2026 Grand Prix? "We are receiving calls from prime ministers, from governments that really want to host the Grand Prix," F1 CEO Stefano Domenicali told CNBC's "Inside Track." The Belgian Grand Prix adds an estimated $248 million to the national economy each year. Abu Dhabi, which held its first Grand Prix in 2009, spent $40 billion constructing an artificial island to do it. "It didn't have anything before the plans for the Abu Dhabi Grand Prix."

Persons: Stefano Domenicali, CNBC's, Domenicali, Abu, Saif Rashid Al Noaimi, YouGov, Robin Fenwick, Guy Antognelli, McLaren, Zak Brown, You've, Lewis Hamilton Organizations: CNBC, Abu, Grand Prix, Monaco, Monaco Government Tourist, Convention Authority, Cannes Film, Cote d'Azur, Bloomberg Locations: Thailand, South Korea, India, Rwanda, Belgian, Europe, America, Belgium, Abu Dhabi, Yas, Grand, Saudi Arabia, U.S, Monte Carlo, Monaco, Cote

☆ Jon Wertheim: Tennis Channel removes analyst indefinitely after comment about Barbora Krejčíková forehead
▼ + stars: | 2024-11-11 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —The Tennis Channel has taken an analyst off air indefinitely after he made a disparaging remark about Wimbledon champion Barbora Krejčíková. It showed her at an angle that exaggerated her forehead,” Wertheim wrote on X on Sunday. I am sorry.”Later on Sunday, the Tennis Channel released a statement saying it has “apologized to the player, Barbora Krejcikova, as did Jon.”“When Tennis Channel became aware of an inappropriate comment about a professional tennis player made by our analyst Jon Wertheim on Friday, we immediately removed him from our air indefinitely,” the statement read. That said, Tennis Channel holds its employees to a standard of respectfulness for others at all times, a standard that was not met in this moment.”Krejčíková, the current world No. CNN has reached out to Krejčíková, Wertheim and the Tennis Channel for further comment.

Persons: Barbora, Jon Wertheim, Wertheim, “, ”, Krejčíková, ” Krejčíková, I’ve, ” Wertheim, Clive Brunskill, Jon, “ Jon, Zheng Qinwen Organizations: CNN, Wimbledon, WTA, Tennis Channel, Tennis Locations: Riyadh, Saudi Arabia, American, Krejčíková

☆ Climate Action 15: 2024's Leading Innovators for a Sustainable Future
▼ + stars: | 2024-11-11 | by ( ) www.businessinsider.com time to read: +40 min

Editor's note: Business Insider's reporters and editors nominated leaders based on insights from past Climate Action honorees, expert sources, and reader submissions. Courtesy of Jayson RicamaraSaudi Arabia, with its hot desert climate and little fresh water, is one of the most difficult farming environments. AdvertisementIyris in October also launched a sustainable-farming pilot in Saudi Arabia with chemical and plastic manufacturers as well as companies including Red Sea Global, a luxury tourism developer. A UN climate panel estimated that harnessing wave energy could supply 20% more electricity than the world produced in 2022. The US is trying to shore up its own mining and manufacturing base to curb China's power, including in battery recycling.

Persons: Derya Baran, Iyris Derya Baran, Jayson Ricamara, Baran, SecondSky, who's, Inna Braverman, Braverman, David Leb, Charles Callaway, Environmental Justice Charles Callaway ., Callaway, Clara, Gretchen Cara Daily, Stanford University Gretchen Cara Daily, Daily, NatCap, Juan Carlos Navarro, Panama Juan Carlos Navarro, Panama Navarro, José Raúl, Haiti —, Navarro, del, Reinhold Gallmetzer, Reinhold, Gallmetzer, Brazil's JBS, packer, Diane Gilpin, Smart Green Shipping Diane Gilpin, Gilpin, Drax, Roberta Tuurraq Glenn, Borade, Savok Glenn, Glenn, Cynthia Houniuhi, Houniuhi, it's, Arvind Kumar, Prasad, Rice, Kumar, Ari Matusiak, Gazur, Matusiak, —, Duncan McIntyre, McIntyre, Altenex, Ozane, Biden, It's, Delta, Liz Ricketts, Charlie Engman Ricketts, Ricketts, Ricketts didn't, Chao Yan, Princeton NuEnergy Chao Yan, Yan Organizations: Iyris, United Arab, King Abdullah University of Science, Technology, Red, Eco, UN, Eco Wave Power, Shell, Environmental Justice, Proctor Academy For Callaway, Metropolitan Transportation Authority, Green Institute, Callaway, Natural, Stanford University, Stanford, Facility, Ministry, Environment, Panama's, UNESCO, US State Department, National Association for, Nature, Center, for, Carrefour, Nestlé, Smart Green Shipping, Scottish Enterprise, International Windship Association, Maritime Organization, Union, Alaska Arctic Observatory, National Weather Service, AAOKH, University of Alaska, Pacific Islands, University of, International Court of Justice, United Nations, Prasad Seeds, Labor, Prasad, International Rice Research Institute, Rewiring, Reduction, Communities, Highland Electric, Schools, Highland, Beverly Public Schools, Fortune, Edison International, Louisiana, US Department of Energy, Ozane, White, LNG, Vessel Project, Biden, Department of Energy, Kantamanto, London . Brands, McKinsey, Princeton, New Jersey Institute of Technology, Princeton University, Princeton NuEnergy, Energy, Laboratory, EV Locations: Jayson Ricamara Saudi Arabia, Saudi Arabia, United Arab Emirates, Egypt, Spain, Ukraine, Cherkassy, Israel, Gibraltar, Port of Los Angeles, Porto, Portugal, West Harlem, New York City, Clara Hale, Costa Rica, Belize, China, NatCap, Stanford, Panama, Colombia, Venezuela, Haiti, Panama City, Brazil, Peru, Brazilian, , Norway's, Barrow, Furness, Alaska, University of Alaska Fairbanks, Utqiaġvik, Fanalei, Solomon Islands, Fiji, Vanuatu, Tonga, Asia, Saharan Africa, India, Philippines, Nepal, Bangladesh, Africa, Hyderabad, South, Southeastern Asia, Subhanpur, Rewiring America, Massachusetts —, Sulphur , Louisiana, Calcasieu, Vessel Project Louisiana, Accra, Ghana, New York, London, Kantamanto, Taiyuan, China's Shanxi, Argonne, South Carolina

☆ US carries out second consecutive night of strikes in Yemen, US defense official says
▼ + stars: | 2024-11-11 | by ( Oren Liebermann | Karina Tsui | ) edition.cnn.com time to read: +3 min

CNN —The United States has carried out a second consecutive night of strikes against Houthi targets in Yemen, a US defense official said Sunday. Details of the types of weapons, targets or locations of the strikes were not immediately available, though there were reports of explosions in the Amran and Saada governorates, north of the capital of Sanaa, where the US has carried out strikes in the past. They say they won’t stop striking Israel and its allies until a ceasefire is reached in the Palestinian enclave. The US has struck Houthis targets in Yemen multiple times over the last 11 months but the attacks have continued. In mid-October, Defense Secretary Lloyd Austin announced that the US struck the militant group using stealth B-2 bombers for the first time.

Persons: Lloyd Austin, Joe Biden, Austin, ” Organizations: CNN, US, Hamas, United Nations, Refugee, ” CNN Locations: United States, Yemen, Saada, Sanaa, Iran, Aden, The, Suez, Syria, Gaza, Iraq, Israel, Saudi, Lebanon

☆ Lean Technologies CEO discusses Silicon Valley's General Catalyst first investment in Saudi Arabia
▼ + stars: | 2024-11-11 | 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 EmailLean Technologies CEO discusses Silicon Valley's General Catalyst first investment in Saudi ArabiaHisham al-Falih, CEO of Lean Technologies, speaks about the first investment of Silicon Valley's General Catalyst in Saudi Arabia through his company.

Persons: Saudi Arabia Hisham al Organizations: Lean, Catalyst, Lean Technologies Locations: Saudi Arabia

☆ Soldier with Yemen’s exiled government opens fire, killing 2 Saudi troops and wounding another
▼ + stars: | 2024-11-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +5 min

A soldier for Yemen’s exiled government opened fire on Saudi troops as they exercised in eastern Yemen, killing two of them and wounding another in a rare insider attack during the kingdom’s nearly decadelong war there, officials said Saturday. The assault in eastern Hadramawt province comes as a yearslong cease-fire between Saudi Arabia and Yemen’s Houthi rebels largely has held despite the militants’ ongoing attacks against shipping in the Red Sea corridor. The attack on the Saudi troops took place Friday night in Seiyun, a city some 310 miles east of Sanaa. As troops worked out at a Saudi-led base there, the soldier opened fire, killing an officer and a noncommissioned officer, the state-run Saudi Press Agency said, citing a military statement. A Saudi-led coalition entered the war on behalf of Yemen’s exiled government in 2015.

Persons: Yemen’s, Wolf, Saudi solider, Aidarous, Hamid Rizq, ” Rizq, Mohammad Bagheri, Fayyad bin Hamid Al, Ruwaili Organizations: Saudi, Saudi Press Agency, Joint Forces Command, Yemeni Ministry of Defense, Yemen’s successionist Southern Transitional Council, First, Seiyun . Police, Authorities, United, Associated Press, Saudi Arabian Locations: Saudi, Yemen, Hadramawt, Saudi Arabia, U.S, Seiyun, Sanaa, Yemen’s successionist Southern, United Nations, Iran, Israel, Gaza, Lebanon, Amran, Houthi, Tehran

☆ Coco Gauff becomes youngest player in 14 years to reach final of WTA Finals after stunning world No. 1 Aryna Sabalenka
▼ + stars: | 2024-11-09 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

1 Aryna Sabalenka in the semifinals of the WTA Finals on Friday, becoming the youngest player since 2010 to reach the final of the tournament. Already, Gauff has become the youngest player to defeat the reigning world No. Gauff is also the youngest player to beat the reigning world No. “I asked (about the record) as soon as I got the match,” Gauff said, per the WTA. The Chinese star defeated Wimbledon champion Barbora Krejčíková in the semifinals, becoming the youngest player to reach the final in her debut appearance at this tournament since 2011.

Persons: Coco Gauff, Sabalenka, Zheng Qinwen, Maria Sharapova, Gauff, Lindsay Davenport, Aryna Sabalenka, Matthew Stockman, Zheng, Sharapova, Serena Williams, Kim Clijsters, “, ” Gauff, ‘, ’, I’ve, ” Sabalenka, Barbora Krejčíková Organizations: CNN, WTA, Sky, American, Wimbledon Locations: American, Riyadh, Saudi Arabia, Belarusian

☆ Trump's election win fuels hope of a peace deal between the PGA Tour and LIV Golf
▼ + stars: | 2024-11-09 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

Donald Trump's US election win is fueling hope for an end to the rift between the PGA Tour and LIV Golf. The launch of the Saudi-backed LIV tour has led to significant disruption in the sport. Golf star Rory McIlroy said he thinks Trump and Musk could help broker a peace deal. AdvertisementDonald Trump's return to the White House is fueling hope of an end to the divide between the PGA Tour and the Saudi-backed LIV Golf League. Feuds between the PGA Tour and LIV Golf, which is funded by Saudi Arabia's Public Investment Fund, had broken out over the huge amounts of money being thrown at LIV recruits and questions over their eligibility for major tournaments and international competitions.

Persons: Donald Trump's, LIV Golf, LIV, Rory McIlroy, Trump, —, Elon Musk, McIlroy, He's, it's, he's, Bill Belichick's Let's Organizations: PGA, Service, PGA Tour, LIV Golf League, Trump, Elon, Sky Sports News, Saudi Arabia's Public Investment Fund Locations: Saudi, Saudi Arabia, United States

☆ Bahrain Finance Minister: ‘Rising tide will lift all economies in the GCC’
▼ + stars: | 2024-11-08 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +4 min

CNN —Like many other Middle Eastern economies, Bahrain has been trying to move away from its dependence on fossil fuels. In October, the National Bank of Bahrain launched a Bitcoin investment fund, aimed at institutional investors — a first for the GCC. At the Gateway Gulf event, Bahrain’s Minister of Tourism announced the construction of 16 new hotels totaling over 3,000 rooms. However Al Khalifa believes that the success of its GCC partners will ultimately prove beneficial for Bahrain. “All of us are working together to increase economic activity, increase the pie for the whole region, and this rising tide will lift all of the economies of the region.”

Persons: ” Shaikh Salman bin Khalifa Al Khalifa, CNN’s Richard, ”, ” Al Khalifa, —, Steffen Hertog, Abu Dhabi, Hertog, Al Khalifa Organizations: CNN, Bahrain’s, Finance, National, Gulf Cooperation Council, United, United Arab Emirates, GCC, World Bank, National Bank of, Tourism, London School of Economics, Political Science, “ Locations: Bahrain, Gateway, ” “ Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab, National Bank of Bahrain, “ Dubai, Dubai, Abu, Saudi

☆ Rory McIlroy thinks Donald Trump and Elon Musk could help PGA Tour and LIV Golf discussions
▼ + stars: | 2024-11-07 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +2 min

CNN —Rory McIlroy thinks that Donald Trump’s return to presidency could help unify the fractured landscape of men’s professional golf by brokering a deal between the PGA Tour and the breakaway Saudi-backed LIV Golf. When asked on Wednesday if Trump could deliver on his own assertion that he could fix the LIV-PGA Tour deal in 15 minutes, McIlroy said: “He might be able to. The US-based circuit and the Saudi Public Investment Fund (PIF), which is behind LIV Golf, remain locked in negotiations, with the initial deadline for the partnership of December 31 last year extended into 2024. When asked about the PGA Tour and LIV on the podcast, recorded Sunday ahead of the election, he added: “I’m really going to work on other things, to be honest with you. “Great news from LIV golf.

Persons: Rory McIlroy, Donald Trump’s, LIV Golf, Trump, McIlroy, He’s, Elon Musk, it’s, he’s, LIV, “, ” Trump, Bill Belichick, Jim Gray Organizations: CNN, PGA Tour, HSBC Abu Dhabi Championship, Saudi Public Investment Fund, Trump, PGA, LIV Locations: Saudi, Saudi Arabia, United States

To lower housing costs, Trump has said he would allow homes to be built on federally protected land, something that could help increase the supply of homes in places like Nevada and Arizona. TaxesTrump has proposed a number of tax cuts, including a complete elimination of the federal income tax. Those cuts lowered the corporate tax rate to 21% from 35%, reduced individual income tax rates, and increased the standard deduction. That could create havoc for workers and consumers and reduce the amount of income taxes the federal government brings in. About 40% of Social Security recipients pay federal income taxes, typically because they have other sources of income that raise them above a certain threshold where they are required to pay income tax, according to the Social Security Administration.

Persons: Donald Trump, Trump, —, ” Trump, “, Decker, Matt Priest, ”, Priest, It’s, He’s, hasn’t, Immigration Trump, Jim Tobin, Trump’s Organizations: Trump, Chicago Economic, Companies, National Bureau of Economic Research, Footwear Distributors, Retailers, U.S, Federal Reserve, Immigration, Business, Pew Research Center, NBC News, National Association of Home Builders, NBC, University of New, University of Pennsylvania, Social Security, Social, Social Security Administration Locations: U.S, China, Nevada, Arizona, Alaska, Saudi Arabia, Russia, University of New Hampshire

☆ More Iran sanctions and 'drill baby, drill': Oil market's future is still uncertain under Trump
▼ + stars: | 2024-11-06 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Luke Sharrett | Bloomberg | Getty ImagesU.S. oil producers are looking forward to less regulations on crude production under a Donald Trump presidency, meaning higher oil supply and consequently lower prices. At the same time, the increased likelihood of trade wars under Trump could dampen global economic growth and slow oil demand. "But medium-term downside risk to oil demand and thus oil prices from downside risk to global GDP from a potential escalation in trade tensions." watch nowTrump expressed his enthusiasm for increased U.S. oil production while giving a speech from the Republican campaign headquarters in Florida on Wednesday, just hours before his victory was confirmed. "The only thing that will cause drill baby drill to happen is higher oil prices based on these margins."

Persons: St, Luke Sharrett, Donald Trump, it's, Trump, Goldman Sachs, Robert F, Kennedy, Jr, Bobby, Biden, Cole Smead, Smead, Patrick Pouyanne Organizations: Chevron Corp, Bloomberg, Getty, Trump, Republican, West Texas Intermediate, Brent, Smead, Energy Information Administration, CNBC, doesn't Locations: Malo, Gulf of Mexico, Louisiana, U.S, Iran, Florida, Saudi Arabia, Russia, Abu Dhabi

Abu Dhabi and Jerusalem CNN —If his first term in the White House is any indication, President-elect Donald Trump is likely to keep the Middle East high on his agenda. But the Middle East has changed significantly since he left office in 2021, and all regional actors are keenly watching how the new president will navigate these shifts. Here’s how Trump’s election could affect key players in the Middle East:Israel and the PalestiniansEnding the wars in Gaza and Lebanon and integrating Israel in the Middle East are likely to be at the top of the president-elect’s Middle East agenda, analysts said. “When the war will be over, you’ll need a real restart in the Middle East,” and Trump will be the best person to bring about a “new Middle East,” Bismuth added. Nadav Shtrauchler, a political strategist who has worked closely with Netanyahu, said Trump’s election sends a message to Israel’s enemies in Iran.

Persons: Jerusalem CNN —, Donald Trump, Trump, Benjamin Netanyahu, Saudi Arabia’s King Salman bin Abdulaziz Al Saud, Prince Mohammed bin Salman, Fatemeh Mohajerani, “ Netanyahu, ”, Mustafa Barghouti, Alon Pinkas, “, ” Pinkas, Joe Biden’s, Pinkas, ” Trump, Evan Vucci, Netanyahu, haven’t, Biden, Boaz, Trump’s, Nadav, Yoav Gallant, Harris, ” Shtrauchler, Qasem Soleimani, Ali Vaez, Ayatollah Ali Khamenei, Atta Kenare, – Israel, …, ” Vaez, –, “ Trump, Vaez, Jamal Khashoggi, Hasan Alhasan, Saudi Arabia's Crown Prince Mohammed bin Salman, Mandel Ngan, ” Alhasan, “ They’re, CNN’s Dana Karni, Irene Nasser, Eyad Kourdi Organizations: Jerusalem CNN, Jewish, White House, America, Saudi, United Arab, Trump, Palestinian National Initiative, CNN, West Bank, Palm Beach Convention, Israel, Likud, Abraham Accords, Islamic, Iran Project, Crisis, Biden, Getty, US, Washington Post, Middle, International Institute for Strategic Studies, Saudi Arabia's Crown, White, Shanghai Cooperation Organization, SCO, –, Hamas Locations: Abu Dhabi, Jerusalem, Saudi, Iran, Israel, America, United Arab Emirates, UAE, East, Gaza, Lebanon, Israeli, Palm Beach, Florida, Syria, Tehran, Republic, United States, AFP, Saudi Arabia, Arab, Riyadh, Bahrain, Yemen, China, Washington, Beijing, decouple, Qatar

Transactional, personality-based and erratic, the Trump doctrine made for a chaotic four years that left both foreign leaders and seasoned American national security aides exhausted and jittery. World leaders are open to all options, including making trips to New York or Trump’s Mar-a-Lago estate in Florida, sources said. Foreign leaders are relying on their experience with Trump during his first presidency, when flattery and personal attention paid dividends, as they approach him following his win. And that, in the end, could sum up Trump’s foreign policy doctrine in a sentence. The first clues about Trump’s policy will be the appointments he makes to senior national security positions.”CNN’s Alayna Treene contributed reporting.

Persons: Donald Trump, Trump, Trump’s, he’s, Joe Biden, ”, Benjamin Netanyahu, Emmanuel Macron, Macron, “, Prince Mohammed bin Salman, Jamal Khashoggi, Mark Rutte, he’d, Shinzo Abe, Angela Merkel, Vladimir Putin —, —, Dmitry Peskov, “ Let’s, Kim Jong Un, Xi Jinping, Xi, Putin, It’s, Mike Pompeo, Keith Kellogg, Mike Pence, Richard Grenell, Brian Hook, John Herbst, United States — Putin, ” Herbst, Alayna Treene Organizations: CNN, Trump, American, NATO, Israeli, Saudi, CIA, Biden, State Department, Republican Party, Council’s Eurasia Center Locations: Paris, Jerusalem, Riyadh, Washington, Florida, —, Ukraine, North Korea, Iran, China, masse, Russia, New York, Lago, Trump, Taiwan, Beijing, Trump’s, Germany, “, United States, Europe

☆ The financial ties between China and Saudi Arabia keep getting deeper
▼ + stars: | 2024-11-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

China has chosen Saudi Arabia as the site for its next offering of US dollar bonds. Saudi Arabia is leaning on Chinese investment to bankroll large development projects. Saudi Arabia has embraced Chinese investment to help bankroll its juggernaut modernization plans. At the end of October, Saudi Arabia debuted two new exchange traded funds to track markets in Hong Kong and China. Earlier this year, the US offered Saudi Arabia tech and security deals on the condition that Riyadh rejects its new tech alliance with China.

Persons: It's, — Organizations: Service, Ministry, Finance, Saudi Public Investment Fund, Financial Times, Tech, US Locations: China, Saudi Arabia, Riyadh, Beijing, Russia, Neom, Hong Kong, Saudi

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