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DUBAI, United Arab Emirates (AP) — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The decision “is aimed at strengthening the precautionary measures taken by OPEC+ countries in order to maintain stability and balance of oil markets,” Novak said. There was no immediate reaction in Washington, though U.S. lawmakers have criticized OPEC, Saudi Arabia and Russia over their past production decisions. The Saudi reduction, which began in July, comes as the other OPEC+ producers have agreed to extend earlier production cuts through next year. But Saudi Arabia also has to manage its relationship with Washington.

Persons: Joe Biden, Alexander Novak, ” Novak, Brent, Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Prince Mohammed, Vladimir Putin Organizations: United Arab Emirates, Brent, Saudi Press Agency, OPEC, Energy Ministry, Benchmark Brent, AAA, Labor, Washington, Washington Post, U.S Locations: DUBAI, United Arab, Saudi Arabia, Russia, Riyadh, Moscow, Saudi, United States, Ukraine, Washington, U.S, China, Israel, America, Iran, India

The "Made in Italy" fund, which was approved in May, will have an initial endowment of 700 million euros ($756 million) in 2023 and an additional 300 million next year in state cash. Saudi Arabia will focus on energy, sustainability, supply chains and sport to expand its presence in Italy, Investment Minister Khalid al-Falih said at the same event. Italian exports to Saudi Arabia totalled just over 4 billion euros in 2022, much from manufacturing, while imports totalled more than 7.4 billion euros, the bulk from oil products. Also at the Milan event, leading Italian energy company Eni (ENI.MI) and Saudi Acwa Power (2082.SE) agreed to jointly develop a green hydrogen project in the Middle East and Africa. Saudi Arabia has a well advanced project dubbed NEOM to produce green hydrogen at home while Italy so far has not developed yet any plan to produce it in significant quantity.

Persons: Adolfo Urso, Giorgia Meloni, Meloni, shrugging, Urso, Khalid al, Falih, Power, De Nora, Giuseppe Fonte, Keith Weir, Angus MacSwan, Alexander Smith Organizations: Energy, Italy's Industry, Reuters, Italy's, Investment, European Union, EU, Saudi, Eni, Saudi Acwa, Thomson Locations: Italy, MILAN, Saudi Arabia, Saudi, Rome, Riyadh, Milan, Kingdom, Meloni, East, North Africa, Russia, Africa

☆ Vision 2030 is Saudi Arabia's grand plan to future-proof its oil-based economy. Experts say it's a huge risk.
▼ + stars: | 2023-08-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +9 min

Vision 2030 is Saudi Arabia's grand plan to transform its economy and reduce its reliance on oil. The centerpiece of Vision 2030 is Neom, which includes a $1 trillion megacity known as The Line. But time is ticking: Seven years after announcing Vision 2030, Saudi Arabia has reached the midway point of its timeline, with just seven years left to the finish line. That said, much of this is being financed by the Public Investment Fund, Saudi Arabia's powerful sovereign wealth fund, which manages assets worth about $700 billion. NeomA key factor that could determine this project's success involves Saudi Arabia's changing appeal to the West.

Persons: Saud, who's, Simon Mabon, Prince Mohammed Bin Salman, Saudi Crown Prince Mohammed bin Salman, McKinsey —, —, Gerald Feierstein, Barack Obama, Feierstein, Richard Callis, Prince Mohammed, Yasir Othman al, Mabon, Prince Mohammed's, there's, Muslimi, they're Organizations: Foreign Policy Center, Saudi Royal Court, REUTERS, Saudi Crown, McKinsey, Middle East Institute, Public Investment Fund, Saudi, SoftBank's Vision, Newcastle United soccer, Newcastle United FC, Saudi Aramco, International Monetary Fund, Chatham House, Neom, United, Bloomberg, Amnesty International Locations: Saudi, Dhahran, Saudi Arabia, London, NEOM, Bandar, Yemen, Ukraine, Riyadh, Jeddah, they're, United Arab Emirates, Neom

☆ Saudi’s swelling fund has scope for foreign binge
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 7 (Reuters Breakingviews) - Saudi Arabia’s big sovereign wealth fund is getting bigger. The Public Investment Fund’s assets under management swelled to 2.23 trillion riyals ($603 billion) in 2022 from 1.98 trillion riyals the year before. PIF’s international assets, which range from UK soccer club Newcastle United to struggling carmaker Lucid (LCID.O), shrank from 576 to 512 billion riyals. Still, PIF has big ambitions: it hopes to boost its total assets to a whopping 4 trillion riyals by 2025, of which 24% will be international. If so, its foreign assets could yet double to 960 billion riyals, according to Breakingviews calculations, making it a key player in global finance.

Persons: Saudi Crown Prince Mohammed Bin Salman, PIF, Neil Unmack, headwinds, Lisa Jucca, Pranav Kiran Organizations: Reuters, Investment, Saudi, Saudi Crown, Newcastle United, Twitter, Adidas, InBev, Thomson Locations: Saudi, Riyadh, Saudi Aramco, Neom

☆ Saudi Arabia is grappling with rising borrowing costs as it embarks on massive spending plans
▼ + stars: | 2023-08-01 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

It's getting more expensive for Saudi Arabia to borrow, with a key lending rate hitting a record 6%. The Gulf Kingdom plans to spend hundreds of billions of dollars as part of its Vision 2030 project. It plans to fund those efforts with a combination of oil revenue and borrowed cash. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Saudi Arabia has also slashed its oil output by around 10%, or 1 million barrels a day, in a bid to bring in more revenue from its crude exports by squeezing up prices.

Persons: It's, Mohamed bin Salman, That's, bin Salman, LIV Golf Organizations: Service, Bloomberg, Saudi Arabia's Crown, Investment Fund, English Premier League soccer, Newcastle United, PGA Tour Locations: Saudi Arabia, Gulf Kingdom, Wall, Silicon, Gulf, Saudi, Refinitiv, SAIBOR

☆ Formula E's Hughes sets indoor world speed record
▼ + stars: | 2023-07-28 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, July 28 (Reuters) - British Formula E driver Jake Hughes has smashed a world indoor speed record by hitting 218.71kph (135.9mph) inside London's ExCeL Centre in a modified version of the electric championship's Gen3 racecar. NEOM McLaren driver Hughes, who had three practice runs before his record attempt, warmed up with a run of 214.80kph before further runs of 215.05 and 217.65 through the speed trap. His record attempt was then clocked at 217.65kph. "I felt like I’ve never wanted anything more in my life than having a world record," he added. "It’s all about showcasing the potential of what an electric racing car can do," he told Reuters.

Persons: Jake Hughes, 218.71kph, Lucas di Grassi, Leh, NEOM McLaren, Hughes, Di Grassi, Briton, I’ve, Jeff Dodds, Alan Baldwin, Pritha Sarkar Organizations: Reuters, Porsche, New, New Orleans Convention, Guinness World Records, Mahindra, Thomson Locations: Docklands, U.S, New Orleans, 216.87kph

☆ Microsoft and Google may have to surrender people's data to Saudi Arabia after signing huge deals there
▼ + stars: | 2023-07-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +8 min

But Saudi Arabia has weak privacy laws and a track record of persecuting dissidents. They are warning tech giants like Microsoft and Google that they could be forced to hand over private citizen data to Saudi hitmen. Data handed over a silver platterMarwa Fatafta, an analyst with digital rights group Access Now, described Saudi Arabia as a country with a "dismal" human rights record. "Have they really [Google and Microsoft] investigated how they plan to mitigate potential human rights abuses or privacy violations, building such infrastructure?" Countries such as Saudi Arabia, he said, often told companies that "if you want to operate in this country, you've got to keep the data in this country.

Persons: Prince Mohammed bin Salman's, Rewan Al, Haddad, umOfUs, FAYEZ NURELDINE, Fatima al, Salma al, Alan Woodward, you've, James Lynch, Fairsquare, Crown Prince Mohammed, James, Lynch, Prince Mohammed, it's, Woodward Organizations: Microsoft, Google, Service, Saudi, Human Rights Watch, New York Post, Getty, Twitter, Leeds University, University of Surrey, Crown Locations: Saudi Arabia, Wall, Silicon, Riyadh, Saudi, AFP

☆ Saudi Arabia is exploring plans to raise $2.7 billion for its futuristic mega-city in an effort to complete most of the construction by 2030
▼ + stars: | 2023-07-17 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Saudi Arabia is seeking a $2.7 billion loan from local lenders for its Neom project, per Bloomberg. Saudi Arabia's mega-city project is reportedly seeking to raise a 10 billion riyal, or $2.7 billion, loan to help fuel the development of the kingdom's futuristic city in the desert. The Neom development is expected to include two huge buildings as part of a project known as The Line. Plans for the Neom development were unveiled in 2017 but progress has been slow. The Crown Prince told Bloomberg in 2018 that the city would be completed in 2025.

Persons: Prince Mohammed bin Salman, Prince Mohammed bin Salman's, Prince, Neom Organizations: Bloomberg, Street Journal Locations: Saudi Arabia, Saudi, West

☆ A Saudi woman was given 30 years in prison for criticizing the Neom megacity project on Twitter
▼ + stars: | 2023-07-03 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

A Saudi woman was recently jailed for 30 years for criticizing the Neom megacity on Twitter. ALQST, a UK-based human rights group, said a Saudi court sentenced Fatima al-Shawarbi to 30 years during a recent appeal hearing. Human Rights Watch in a 2020 report said that imprisoned female dissidents are often refused contact with family members and those in the outside world. The crown prince plans to construct the city across a 10,200 square mile area in the Tabuk Province in northwestern Saudi Arabia. Despite criticism from human rights groups, Saudi Arabia continues to attract wealthy Western companies to invest in Neom.

Persons: Fatima al, Shawarbi, —, ALQST, Lina Alhathloul, Salma al, Alhathoul, Prince Mohammed bin Salman, Abdul Rahim al, who've Organizations: Twitter, Saudi, Service, Privacy Policy, Rights Watch, Leeds University, UN, Amnesty Locations: Saudi, Privacy Policy Saudi Arabia, Al, Ahsa, London, Tabuk Province, Saudi Arabia, Neom

☆ Thyssenkrupp hydrogen IPO calls for leap of faith
▼ + stars: | 2023-06-22 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Once known as the Swiss army knife of climate change for its myriad potential applications in heating, heavy industry and vehicles, green hydrogen has fallen to earth. High fossil fuel prices have also made green hydrogen more affordable relative to other types made from gas. Yet green hydrogen is mostly confined to large-scale industrial usages like steel and ammonia manufacturing. López Borrego will do well to get his IPO away at 3 billion euros without a tangible discount. Switching an average European steel site to green hydrogen could cost 7 billion euros, according to a Hydrogen Europe report.

Persons: Miguel Ángel López Borrego, Thyssenkrupp, DNR.MI, Nucera, López Borrego, Nora, George Hay, Streisand Neto Organizations: Reuters, Nucera, Industrie, Energy, ITM, Mingyang Smart Energy, Reuters Graphics Reuters, Thyssenkrupp, European, Council, Thomson Locations: Frankfurt, Dortmund, U.S, Swiss, Saudi

☆ Saudi's crown prince and Putin are teaming up to keep oil prices high in a geopolitical gambit likely to annoy the US
▼ + stars: | 2023-06-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Saudi Arabia said it is cutting oil production to stabilize oil markets. The move is likely to irk Joe Biden, who has clashed with the Saudis on oil production. The Saudis have previously worked with Russia to cut production, thus boosting prices. Saudi Arabia is the world's biggest oil producer and most influential member of the group, so has significant power over global oil markets. The production cut will likely be among the issues discussed when US Secretary of State Anthony Blinken visits Saudi Arabia next week.

Persons: irk Joe Biden, —, Prince Abdulaziz bin Salman al, Saud, Prince Abdulaziz, Saudi Arabia's, Prince Mohammed bin Salman, Alexander Novak, Biden, State Anthony Blinken Organizations: Saudis, Service, Privacy Policy, Reuters, Brent, White, State, New York Times, Kremlin Locations: Saudi Arabia, Russia, Privacy Policy Saudi Arabia, Saudi, Vienna, Austria, Russian, Riyadh, Ukraine, Opec, India

☆ Saudi Arabia needs more than higher oil prices to fund its grand plans
▼ + stars: | 2023-06-05 | by ( Eoin Mcsweeney | ) edition.cnn.com time to read: +8 min

Abu Dhabi, UAE CNN —Saudi Arabia surprised traders again on Sunday with an oil production cut of about 1 million barrels a day, roughly 1% of global supply, which sent oil prices climbing. But Saudi Arabia knows that it cannot rely solely on a fluctuating oil market for income. Saudi Arabia targets $100 billion in annual foreign direct investment (FDI) by 2030. “We think about where most of the tourism development for Saudi Arabia, it’s along the Red Sea coast. Alongside China’s slowing economy and a sluggish oil market, there are fears for a potential global recession, with Russia’s ongoing war on Ukraine adding uncertainty to the market.

Persons: Amena Bakr, “ There’s, ”, Karen Young, Investment Khalid Al, Falih, CNN’s Becky Anderson, “, ’, ” Falih, Prince Mohammed bin Salman, King Salman, Young, Bakr Organizations: UAE CNN —, Brent, Saudi, Organization of, Petroleum, Energy Intel, Monetary Fund, Columbia University Center, Global Energy, Forbes, Saudi Central Bank, ”, Investment, Gulf Cooperation, Investors, CNN, EU Locations: Abu Dhabi, UAE, UAE CNN — Saudi Arabia, Riyadh, Saudi Arabia, OPEC, Saudi, “, Riyadh Monday, Gulf, Dubai, Turkey, Qatar, Syria, Yemen, Iran, Sudan, Red, China, Japan, Korea, Germany, Europe, United States, Ukraine

DUBAI, June 5 (Reuters) - Saudi Arabia's sovereign wealth fund will take control of four of the kingdom's top soccer clubs including Al-Nassr, which Cristiano Ronaldo plays for, as the government revives a plan to privatise several state-owned sports clubs. All are in the top-flight Saudi Professional League, except Al-Ahli which is in the second-tier Saudi First Division. The privatisation plan, mainly focused on soccer clubs and launched by Saudi Crown Prince Mohammed bin Salman, allows companies and development agencies to invest in and take over clubs, SPA reported earlier on Monday. The kingdom aims for the revenue of the Saudi Professional League to increase to 1.8 billion riyals ($480 million) annually by 2030 from 450 million riyals. Saudi oil giant Aramco will own Saudi First Division club Al-Qadsiah, Third Division side Alula FC will be owned by the Royal Commission for Al-Ula while First Division club al-Diraiyah FC will be controlled by Diriyah Gate Development Authority.

Persons: Cristiano Ronaldo, PIF, Saudi Crown Prince Mohammed bin Salman, Ula, Ronaldo, Al Nassr, Lionel Messi, Jana Choukeir, Yousef Saba, Sriraj Kalluvila, Emelia Organizations: Al, Public Investment Fund, Twitter, Saudi Professional League, Saudi, Division, Saudi Crown, Second Division, NEOM, Saudi First Division, Alula FC, Royal Commission, First Division, Diraiyah FC, Diriyah, Development Authority, Investment, Premier League, Newcastle United, Reuters, Thomson Locations: DUBAI, Saudi, al, Ittihad, Al, Ahli, Hilal, Saudi Arabia, Portuguese, Argentina

☆ These 2 stocks have raised dividends above the inflation rate every year — for 40 years
▼ + stars: | 2023-06-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Two U.S.-listed companies, Air Products & Chemicals , and Automatic Data Processing , are the only stocks worldwide to have raised dividends every year above the rate of inflation for the past four decades, according to a CNBC Pro analysis. In 2022, when the price levels rose by 8%, Air Products raised its dividend by 8.9%. Similarly, Automatic Data Processing, a payroll and human resources software company, has beaten the inflation rate each year for the past four decades. Air Products & Chemicals Air Products has benefited from the rise in industrial products in Europe — it reported a 6% rise in volumes and an 8% increase in prices across the group annually for the second quarter of this year. Automatic Data Processing New Jersey-headquartered Automatic Data Processing has paid out a more significant dividend per share than Air Products in 24 of the past 40 years.

Persons: Sebastian Bray, FactSet, Linde, Bray, Stifel, David Grossman Organizations: Air Products & Chemicals, CNBC, Air Products, Air Products & Chemicals Air Products, BASF, Neom, Berenberg Research, Air Liquide, Products Locations: Europe, Saudi Arabia, 24.8x, 23.4x, Jersey

☆ The Saudi crown prince revealed his latest vision for Neom, the $1 trillion 'utopian' megacity that critics fear will become a dystopian nightmare
▼ + stars: | 2023-05-29 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Saudi Arabia unveiled new pictures of the Neom megacity planned by its ruler, Mohammed bin Salman. Loading Something is loading. Neom is the brainchild of Saudi Arabia's crown prince and de facto ruler, Mohammed bin Salman. In a new set of pictures released by Neom and Unsplash, the city is portrayed as a paradisaical adventure holiday resort. But activists are warning that that rights are being trampled as Saudi Arabia readies parts of the resort to be opened to visitors.

☆ Saudi Arabia is planning to execute three local tribe members who opposed its futuristic NEOM megacity project, UN experts warn
▼ + stars: | 2023-05-04 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Three men protesting the NEOM project have been sentenced to death, UN human rights experts said. The experts group said the men had been convicted under an "overly vague" terror law which appears not to meet international law. This image shows the planned design of 'The Line,' a 'vertical skyscraper' which forms part of the futuristic Saudi Arabian city of NEOM. Three further tribe members were given prison sentences of up to 50 years, the experts group said. Since January 2020, residents of the three villages of Al Khuraiba, Sharma and Gayal have been evicted without fair compensation, despite promises from the state, the experts group said.

During the current fighting Egypt has joined calls for an effective ceasefire while saying they consider the conflict an internal matter for Sudan. The most important regional ally for Hemedti before the conflict was the United Arab Emirates. Hemedti said he advised Sudan to cut ties to Wagner after the U.S. imposed sanctions on the private military contractor. Saudi Arabia has had close ties to Burhan and Hemedti, both of whom sent troops to the Saudi-led coalition in Yemen. Israel, which had been hoping to move forward in normalising ties with Sudan, has also offered to host talks.

☆ Saudi Arabia's Neom is a $500B futuristic city being built in the desert — but it could morph into a surveillance dystopia
▼ + stars: | 2023-04-26 | by ( Bill Bostock | Tom Porter | ) www.businessinsider.com time to read: +1 min

Saudi Arabia is building a futuristic mega-city called Neom deep in a desert bordering the Red Sea. But critics fear that sophisticated technology could be used to surveil residents. Saudi Arabia hopes to build a futuristic mega-city 33 times the size of New York City from scratch. It's called Neom, a planned 16-borough city on the Red Sea coast in the northwestern Saudi province of Tabuk. As Insider reported, they believe that the Saudis could be preparing to use sophisticated Chinese surveillance technology to tightly monitor and control Neom's residents.

☆ China doesn’t want US cars like Ford and General Motors. That’s a big problem for their futures.
▼ + stars: | 2023-04-24 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

America has a problem: China — the world's largest car market — doesn't want its vehicles. In 2022, data shows Ford and General Motors' car sales in China each dropped more than 20% from the year before. My colleagues Alexa St. John and Nora Naughton break down how the future of US automakers hinges on China. Although Google founder Larry Page's flying car company Kittyhawk majorly flopped, it left us with some interesting vehicles. Hop aboard to see all the funky flying car models here.

☆ The Saudi crown prince wants to build a trillion-dollar utopia in the desert. His deals with China reveal a darker vision.
▼ + stars: | 2023-04-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +9 min

It's part of Crown Prince Mohammed bin Salman's modernizing vision of the country. But behind the outlandish plan, developed by Saudi Arabia's powerful crown prince Mohammed bin Salman, is a much darker reality. Crown Prince Mohammed appears keen to replicate those projects on a grander scale. Saudi Crown Prince Mohammed Bin Salman announces a zero-carbon city called "The Line" to be built at NEOM in northwestern Saudi Arabia, January 10, 2021. It appeared to be the beginning of a fruitful partnership for Crown Prince Mohammed.

☆ Middle East pivot to Asia is strategic this time
▼ + stars: | 2023-03-14 | by ( Una Galani | ) www.reuters.com time to read: +6 min

Xi Jinping has brokered a deal the United States would have found hard to secure, despite its traditional military influence in the Middle East. The Middle East has trained its financial sights on Asia before. At current rates of growth, emerging Asia will become the top trade partner for the Gulf countries by 2028, per Asia House, surpassing advanced economies. As U.S.-China relations continue to sour, the Asian financial centre is looking to the Middle East to find new foreign companies to trade in the territory. Delegations from the two Middle East countries held talks in Beijing between March 6 and 10, the statement added.

Saudi officials have pressed international companies to invest in the kingdom and move their regional headquarters to Riyadh in order to benefit from government contracts. "We are finalising the plans for opening the Riyadh region. He added that Oracle would also expand the capacity of its cloud region in Jeddah, which the company first opened in 2020. The company made the announcement as global tech companies gathered for a major tech conference in the Saudi capital. Though Oracle lags its bigger rivals in the race to corner the cloud computing market, it was among the first large tech companies to open a data centre in Saudi Arabia.

☆ Saudi Arabia says tech giants to invest more than $9 billion in kingdom
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

RIYADH, Feb 6 (Reuters) - Saudi Arabia has attracted more than $9 billion in investments in future technologies, including by U.S. giants Microsoft (MSFT.O) and Oracle Corp (ORCL.N), which are building cloud regions in the kingdom, a government minister said on Monday. Saudi Minister of Communication and Information Technology Abdullah Alswaha said Microsoft will invest $2.1 billion in a global super-scaler cloud, while Oracle has committed $1.5 billion to build a new cloud region in Riyadh. Saudi officials have pressed international companies to invest in the kingdom and move their regional headquarters to Riyadh in order to benefit from government contracts. The minister said China's Huawei (HWT.UL) will also invest $400 million in cloud infrastructure for its services in Saudi Arabia and another cloud region in partnership with oil giant Aramco (2222.SE). An additional $4.5 billion was invested in global and local assets across multiple sectors at the forum, Alswaha added.

☆ Wehrlein takes the Formula E lead with a double in Diriyah
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

Jan 28 (Reuters) - Porsche's Pascal Wehrlein won his second Formula E race in two days in Saudi Arabia to take the lead in the electric world championship on Saturday. The German beat his British rival Jake Dennis, driving for Porsche-powered Avalanche Andretti and making more overtakes than anyone else, by 1.252 seconds in a repeat of Friday's top two at the Diriyah street circuit. "Our race pace is incredible, again today we had the perfect strategy," said Wehrlein, who started fifth on the grid and became only the fifth Formula E driver to win both races in one weekend. "This weekend will be one I will never forget," added the former Formula One driver, who finished second to Dennis in this month's Mexico City opener. Wehrlein now has 68 points to 62 for Dennis, with Envision Racing's Sebastien Buemi a distant third on 31.

☆ The Davos party returns, with the shakes
▼ + stars: | 2023-01-16 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters Breakingviews) - There’s a hangover happening in Davos even though the party hasn’t yet started. The World Economic Forum’s annual winter shindig in the Swiss mountain resort, which kicks off on Monday, marks a return for glitzy parties and high-minded debates following a three-year hiatus. A record number of business leaders are set to make the trip, and the passage of commercial, private and government aircraft through Zurich’s airport suggests overall attendees are at pre-Covid-19 levels. The global pandemic and Russia’s invasion of Ukraine have added more friction to the already creaking globalised world that Davos epitomised. Follow @thereallsl on TwitterloadingCONTEXT NEWSThe World Economic Forum will take place in Davos, Switzerland from Jan. 16 through Jan. 20.

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