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☆ Neom: Saudi Arabia's $500 billion bet to build a futuristic city
▼ + stars: | 2023-01-13 | by ( Anuz Thapa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeom: Saudi Arabia's $500 billion bet to build a futuristic citySaudi Arabia is building a futuristic city, Neom, in its desert from scratch. A vital element of the country's Vision 2030 plan, the project is Saudi's de facto leader, Crown Prince Mohammed Bin Salman, a.k.a. MBS's brainchild. The project plans to cover an area of more than 10,000 square miles, about the same size as Massachusetts, costing $500 billion. Watch the video above to find out why MBS is betting on this city.

☆ Saudi Arabia's $500 billion bet to build a futuristic city in the desert
▼ + stars: | 2023-01-13 | by ( Anuz Thapa | ) www.cnbc.com time to read: +1 min

Saudi Arabia is building a futuristic city in the middle of a vast desert— from scratch. A vital element of the country's Vision 2030 plan, the project is the brainchild of Saudi's de facto leader, Crown Prince Mohammed bin Salman, also known as MBS. "Neom is a mega project seen in Saudi Arabia and the young Saudi population as part of this liberalization process." The Neom project is far from without controversy, though. It also is being seen by some as a way to distract attention from Saudi Arabia's human rights record.

RIYADH, Dec 7 (Reuters) - Saudi Arabia expects to post a second consecutive budget surplus in 2023, though down 84% from this year as an uncertain global economic outlook and lower crude prices look set to weigh on the top oil exporter's revenues. Spending is slightly lower than 1.132 trillion riyals this year. Revenues are expected at 1.13 trillion riyals, down from 1.234 trillion riyals in 2022 as oil prices are seen falling from this year's high levels. Public debt is seen falling 3.5% to 951 billion riyals next year, or 24.6% of GDP. Government reserves at the Saudi Central Bank are estimated to reach 399 billion riyals at the end of next year, the finance ministry said.

☆ Gulf states, looking East, to reinforce economic ties with China as Xi visits Saudi
▼ + stars: | 2022-12-06 | by ( Rachna Uppal | ) www.reuters.com time to read: +5 min

Saudi Arabia is China's top oil supplier, making up 18% of China's total crude oil purchases, and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners. Outside energy, Gulf Cooperation Council (GCC) states provide markets for Chinese goods, construction contracts and investment opportunities in infrastructure, manufacturing and digital economies that fit Beijing's Belt and Road Initiative. Saudi Arabia and the UAE are also investing in future technologies as a pillar of economic diversification, which has gained impetus in a global transition away from fossil fuels. Online giant Alibaba has partnered with STC Group for cloud services in Saudi Arabia. BALANCING ACTHow Saudi Arabia and other Gulf states handle both Chinese and Western supply chains in sensitive areas like critical national infrastructure is likely to remain a point of friction with key security partner the United States, analysts say.

☆ Analysis: Saudi prince seeks Mideast leadership, independence with Xi's visit
▼ + stars: | 2022-12-04 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +7 min

The Saudi government did not respond to requests for comment on Xi's visit and its agenda. It is China's top oil supplier, although fellow OPEC+ producer Russia has increased its Chinese market share with lower-priced fuel. The Chinese delegation is expected to sign dozens of agreements with Saudi Arabia and other Arab states covering energy, security and investments, diplomats have told Reuters. U.S. officials have declined to comment when asked about Saudi-China bilateral relations ahead of Xi's visit. "The relationships with China pale versus those with the United States in terms of both complexity and intimacy," he said.

SEOUL, Nov 17 (Reuters) - South Korean and Saudi Arabian leaders pledged stronger ties on Thursday in the fields of energy, defence industry and building projects, as the oil-rich kingdom signed investment agreements worth $30 billion with South Korean companies. "In particular, he said he would like to drastically strengthen cooperation with South Korea in the areas of defence industry, infrastructure and construction," Yoon's office said. Saudi-based Asharq TV quoted the kingdom's investment minister as saying deals signed on Thursday were worth $30 billion. "The (South Korean) government will actively support the successful implementation of cooperative projects which apply Korea's state-of-the-art architecture ... in NEOM," said South Korea's trade minister, Lee Chang-yang. Shares in Lotte Fine Chemical (004000.KS), which signed an agreement for chemical industry cooperation with the Saudi Ministry of Investment, rose 2.1%.

Saudi Press Agency/Handout via REUTERSDUBAI, Nov 10 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) is working with Lazard (LAZ.N) on funding options and a potential initial public offering of Masar, a $27 billion mega project in the holy city of Mecca, two sources with direct knowledge told Reuters. The PIF, Lazard and Masar did not respond to a Reuters query for comment. Bloomberg first reported Lazard was advising the sovereign wealth fund on NEOM. Masar is a 1.2 million square metre urban development project in the western part of Mecca. Reporting by Hadeel Al Sayegh;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia has a strong tourism market, but minister holds out hope for Chinese travelers
▼ + stars: | 2022-10-28 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Sprawling mountains in the south, redevelopment of the Red Sea's coastal jewel city Jeddah and a futuristic smart city NEOM by 2030 — these are just some of the highlights that Saudi Arabia's minister of tourism hopes will be the main draws for future tourists. The Arab kingdom has a "very strong domestic market" for tourism, Saudi Arabia's Minister of Tourism Ahmed Al Khateeb told CNBC's Dan Murphy on Wednesday on the sidelines of the Future Investment Initiative in Riyadh. The minister added that he hopes China eases Covid restrictions, which could lead to an influx of Chinese tourists. "We definitely have [a] very strong religious market, people visiting the two holy cities," Al Khateeb said.

☆ Flying taxis, robotic avatars and holograms — Saudi Arabia pushes ahead with its sci-fi city vision
▼ + stars: | 2022-10-25 | by ( Emma Procter | ) www.cnbc.com time to read: +6 min

The future Site of the city Neom, a planned cross-border city, stands empty before development begins in the Tabuk Province of northwestern Saudi Arabia, December 18, 2019. NEOM political map of the 500 billion dollar megacity project in Saudi Arabia along the Red Sea coast. Granger's firm has been working closely with Neom and she believes the view of Saudi Arabia among the business community has changed inexorably. The aim is to transform and grow the kingdom's media industry — another key focus of the Vision 2030 plan. Visitors watch a 3D presentation during an exhibition on 'Neom', a new business and industrial city, in Riyadh, Saudi Arabia, October 25, 2017.

General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. JPMorgan and Goldman Sachs made nearly $77 million and $42 million respectively in investment banking fees in Saudi Arabia last year, Refinitiv data showed. "For the most part, I do not see U.S. companies actively avoiding Saudi Arabia due to recent political tensions," said Adel Hamaizia, managing director at Highbridge Advisory and a visiting fellow at Harvard University. FDI FLATForeign direct investment still lags behind targets, though there has been movement in new sectors as the kingdom opens up. As Boeing netted an $80 million defence contract last year, Fedex announced a $400 million 10-year investment plan in the country, the Arab world's biggest economy.

☆ Saudi Arabia just won a bid for the 2029 Asian Winter Games. The $500 billion city they're set to be hosted in doesn't exist yet.
▼ + stars: | 2022-10-05 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

Saudi Arabia is set to become the first country in West Asia to host the Winter Asian Games. But, like the rest of Neom, Trojena doesn't exist yet; it's slated to be completed in 2026, per the AFP. Neom, Saudi Arabia, on January 12, 2021. The Asian Winter Games are held every four years. Saudi Arabia stands to be the first West Asian country to host the event, which was most recently held in Sapporo, Japan, in 2017.

☆ Saudi Sovereign-Wealth Fund Reveals Finances for First Time Ahead of Bond Sale
▼ + stars: | 2022-09-28 | by ( Rory Jones | ) www.wsj.com time to read: 1 min

Saudi Arabia’s futuristic megaproject Neom is a sprawling set of developments on land the size of Massachusetts that is billed as the kingdom’s future. DUBAI—Saudi Arabia offered a first look inside the performance of its $600 billion sovereign-wealth fund, disclosing a return that was in line with the broader market and revealing that it invested $2 billion in Russian assets before the war in Ukraine. The Public Investment Fund has hired banks to possibly raise billions of dollars in a debut bond sale, according to a prospectus it shared with potential investors this week. The cash would be invested in renewables and other green projects, PIF said, for the first time shining a light on the finances of the once-secretive fund.

☆ Saudi NEOM's tech unit rebrands, invests $1 bln in 2022 -CEO
▼ + stars: | 2022-09-27 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

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. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS/File PhotoRIYADH, Sept 27 (Reuters) - NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday. NEOM is Crown Prince Mohammed bin Salman's most ambitious project yet, although it has also met with scepticism from some observers. "NEOM is really becoming, in my opinion, the innovation engine for the GCC," he said in an interview with Reuters. Subscriptions to NEOM's metaverse platform will help people from around the world to virtually visit before physically investing in the city, Bradley said.

☆ Saudi Arabia's wealth fund hires banks for debut green bonds
▼ + stars: | 2022-09-27 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterDUBAI, Sept 27 (Reuters) - Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has hired banks including Citi and JPMorgan (JPM.N) to arrange a debut issuance of multi-tranche U.S. dollar-denominated green bonds, a document showed on Tuesday. Sources told Reuters earlier this month that PIF would issue the long-planned green bonds this month or in October. Register now for FREE unlimited access to Reuters.com RegisterA debut issuance in tranches of five, 10 and potentially a longer-dated tenor will follow, subject to market conditions. "PIF is acting as the key vehicle to achieve KSA (the Kingdom of Saudi Arabia) green aspirations," the presentation said, referring to an ambitious economic reform agenda to wean the economy off oil. read more($1 = 3.7620 riyals)Register now for FREE unlimited access to Reuters.com RegisterReporting by Yousef Saba; Editing by Louise Heavens and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Etapă cu incidente în Dakar. Toby Price a suferit o căzătură și a fost spitalizat
▼ + stars: | 2021-01-13 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Incidentele nu au putut fi evitate nici în etapa a 9-a a Raliului Dakar! Pilotul a fost transportat cu elicopterul la spitalul din Tabuk. Concursul a fost câștigat de argentinianul Kevin Benavides. Francezul a fost urmat pe podium de qatarianul Nasser Al-Attiyah şi sud-africanul Giniel de Villiers. A zecea din cele 12 etape a competiției din Arabia Saudită se va desfășura între orașele Neom și AlUla.

Persons: Australianul Toby Price, Kevin Benavides, Ricky Brabec, Jose Igancio, Stephane Peterhansel, Francezul, Nasser, -, africanul, Villiers Locations: Dakar, Tabuk, Arabia Saudită, Neom

☆ Chilianul Jose Ignacio Cornejo Florimo a învins în etapa a opta a Raliului Dakar la clasa moto
▼ + stars: | 2021-01-11 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Chilianul Jose Ignacio Cornejo Florimo a câştigat etapa a opta a Raliului Dakar la clasa moto.Sud-americanul a fost cronometrat cu 3 ore 8 minute și 40 de secunde, după ce a parcurs distanța de 375 de kilometri, între localitățile saudite Sakaka şi Neom.Cornejo Florimo a fost urmat de australianul Toby Price şi de americanul Ricky Brabec, campionul în exercițiu la clasa moto.Grație acestei victorii, chilianul se menţine pe primul loc în clasamentul general, cu un avans de 66 secunde faţă de Price.Pilotul francez Xavier de Soultrait a fost constrâns să abandoneze în această manșă din cauza unei căderi violente, în urma căreia a fost transportat la spitalul din Tabuk.La clasa auto, în cea de-a opta etapă, nu s-au înregistrat surprize. Qatarezul Nasser Al-Attiyah s-a impus în fața lui Carlos Sainz și Stephane Peterhansel.Următoarea etapă a Raliului Dakar se va desfășura marți, în buclă la Neom, pe distanţa 465 de kilometri cronometraţi.

Persons: Chilianul Jose Ignacio Cornejo Florimo, australianul Toby Price, Ricky Brabec, Xavier de Soultrait, Nasser, Carlos Sainz, Stephane Peterhansel.Următoarea Organizations: chilianul, Dakar Locations: Dakar

☆ Cea de-a șaptea etapă a Raliului Dakar, câştigată de americanul Ricky Brabec
▼ + stars: | 2021-01-10 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Cea de-a șaptea etapă a Raliului Dakar le-a dat multe bătăi de cap motocicliștilor! După acest incident, sportivul nu a rezistat și a izbucnit în lacrimi. Etapa a fost câștigată de deținătorul titlului, americanul Ricky Brabec. Sauditul Yazeed al Rajhi s-a impus la clasa auto, argentinianul Manuel Andujar a triumfat în categoria quads, iar rusul Dmitri Sotnikov a fost cel mai rapid în clasa camioane. Competiția se va încheia pe 15 ianuarie.

Persons: Ross Branch, Ricky Brabec, Jose Ignacio Cornejo, Howes, Manuel Andujar, Dmitri Sotnikov Locations: Dakar, Arabia Saudită

☆ Regele Salman al Arabiei Saudite a fost vaccinat anti-Covid
▼ + stars: | 2021-01-09 | by ( ) www.jurnal.md time to read: 1 min

Potrivit agenţiei SPA, regele Salman a "primit prima doză a vaccinului" la NEOM, un oraş futurist în curs de dezvoltare. La 17 decembrie, Arabia Saudită a început o campanie de vaccinare, după ce a aprobat utilizarea vaccinului dezvoltat de Pfizer/BioNTech, scrie News.ro. Arabia Saudită a înregistrat peste 363.000 de cazuri de contaminare cu noul coronavirus şi peste 6.000 de decese.

Persons: Salman Locations: SPA, Arabia Saudită

☆ Întâlnire secretă la vârf între vechii inamici Israel și Arabia Saudită. Cine a fost mediator
▼ + stars: | 2020-11-23 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Ziarele evreiești au scris că Netanyahu a fost însoțit de șeful Mossad, Yossi Cohen. Presa de stat saudită nu a făcut nicio referire la această întâlnire, în vreme ce cabinetul premierului israelian nu a răspuns întrebărilor pe acest subiect. Chiar dacă un acord similar între israel și Arabia Saudită nu este realizabil, călătoria de duminică noapte ar marca o victorie diplomatică importantă pentru Israel. Administrația Trump, apropiată de Netanyahu, a făcut eforturi în ultimele săptămâni de a sprijini guvernul israelian. În acest turneu, Mike Pompeo a devenit primul diplomat american care a făcut o vizită oficială într-o așezare israeliană din West Bank, un sprijin evident pentru mișcarea naționalistă de preluare a terenurilor în teritoriile palestiniene ocupate.

Persons: Benjamin Netanyahu, Mohammed bin Salman, Mike Pompeo, Netanyahu, Yossi Cohen, bin Salman, Benny Gantz, Donald Trump Organizations: Guardian, Mossad, West Locations: Arabia Saudită, american, Israelului, saudită, Tel Aviv, saudit Neom, Israel, Emiratele Arabe Unite, EAU, Bahrein, israel, Iran, Israelul, Orientul Mijlociu, israeliană, West Bank

☆ Saudi Arabia Lures Executives to Neom With Million-Dollar Salaries, Zero Taxes
▼ + stars: | 2020-05-04 | by ( Rory Jones | ) www.wsj.com time to read: 1 min

Saudi Arabia’s megadevelopment Neom is paying senior executives roughly $1.1 million each annually, according to an internal Neom document, showing how the kingdom is using large pay packages to lure global talent to Crown Prince Mohammed bin Salman ’s national transformation plan. Neom is the most ambitious project in Saudi Arabia and one of dozens of real-estate developments and new companies set up to drive Prince Mohammed’s social and economic reforms. The kingdom is recruiting foreign executives to lead new industries—tourism, technology and entertainment—that were, until recently, largely nonexistent in the kingdom.

☆ Everything to know about Neom, the futuristic city project in Saudi Arabia critics fear could be a surveillance dystopia
▼ + stars: | 2019-09-23 | 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 is building 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.

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