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Varanasi and New Delhi CNN —Indian Prime Minister Narendra Modi once famously made a simple election promise: “good days are coming”. India's Prime Minister Narendra Modi addresses his supporters during an election campaign rally in Pushkar on April 6, 2024. India's Prime Minister Narendra Modi speaking during a rally in Sydney, Australia, on May 23, 2023. Kalpit Bhachech/Getty Images Narendra Modi, then BJP secretary is welcomed at Ahmedabad Railway Station by the party's followers on January 31, 1992. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023.
Persons: Narendra Modi, Modi, Himanshu Sharma, Getty Images Modi, , , Saba Naqvi, , Vajpayee, Naqvi, Dileep Patel, John Mees, Akash Jaiswal, “ We’ve, ” Jaiswal, isn’t, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Patel, India’s, Jawaharlal Nehru, Indira Gandhi, Rajiv, Rahul Gandhi, Nilanjan Mukhopadhyay, “ Narendra Modi, ” Mukhopadhyay, Mukhopadhyay, ” Modi, Keshav Baliram, “ Modi, BJP Modi, Lord Ram, ” Naqvi, Critics, Christophe Jaffrelot, Karan Thapar, ” Jaffrelot, Modi’s, it’s, , Raj, India Narendra Modi, Kenny Hoston, Ram, ” Raniva, That’s Organizations: New Delhi CNN, Indian, Bharatiya Janata Party, BJP, India's, Getty Images, Pew, CNN, World Health Organization, New York Times, Rashtriya Swayamsevak Sangh, Getty, Modi, Hospital, Narendra, India Today, Indian National Congress, AP, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Cambridge, today’s Congress Party, Harvard, The Times, Muslim, Australia Locations: Varanasi, New Delhi, Gujarat, Pushkar, India, “ India, United States, Brazil, , Sydney, Australia, Ahmedabad, Ahmadabad, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Uttar Pradesh, Abu Dhabi, United Arab, Oxford, Vadnagar, Babri, Kadi, Kashmir, United Kingdom, Russia, Ukraine, Israel, Ghaziabad, Meerut, Jama
Anadolu | Anadolu | Getty ImagesWorld leaders have called for calm in the aftermath of Iran's large-scale air attacks on Israel on Saturday, with many expressing deep concern over the prospect of a broader regional conflict. Ahead of a war cabinet meeting on Monday, Israel has pledged to "exact a price" from Iran in response to the Saturday attack. watch nowU.S. President Joe Biden on Saturday said that he condemned "in the strongest possible terms" Iran's unprecedented air attack against military facilities in Israel. 'No one wants to see more bloodshed'European leaders castigated Iran's attack against Israel and vowed to work to de-escalate the situation. France and the U.K. intercepted some of Iran's strikes on Israel on Saturday.
Persons: Israel, Joe Biden, Biden, Benjamin Netanyahu, Iran's, Emmanuel Macron, Rishi Sunak, Annalena Baerbock, Baerbock, Sunak, Yoko Kamikawa, Kamikawa, Gustavo Petro, Petro, Nicolas Maduro Organizations: Anadolu, Getty, CNBC, NBC News, Downing, German, NBC, Israel, Saudi Arabia's Foreign, United Nations Security Council, Sunday, UN, UNRWA, Kyodo, Japan's, United Nations, Colombia's, Bloomberg Locations: Israel, Tehran, Iran, Syria, Gaza, Syrian, Damascus, France, London, England, Germany, East, North Africa, Saudi, Egypt, Asia, China, Beijing, Palestine, Tokyo, Japan, South America, U.S, Miraflores, Caracas, Venezuela
A Saudi broker monitors the stock market at the Arab National Bank in the Saudi capital Riyadh on December 11, 2019. Gulf markets were down slightly on Sunday, providing an early indication of investor reaction to Iran's unprecedented attack on Israeli territory. Saudi Arabia's benchmark stock index fell 1.8% in early trading while the main Qatari index was down 1.6%, with Gulf lender QNB leading losses. Iran's retaliatory drone and missile attack in response to a suspected Israeli air strike raises the threat of wider regional conflict. Israel reported modest damage, but the key for investors will be how the conflict unfolds from here.
Persons: Brian Jacobson Organizations: Arab National Bank, Wealth Locations: Saudi, Riyadh, Tel, Israel, Milwaukee , Wisconsin
Saudi Arabia is plowing on with its ambitious Neom project, despite reported setbacks. Here's a closer look at the main regions that officials plan to build as part of the project. AdvertisementSaudi Arabia's futuristic Neom project is one of the most ambitious in the world. According to Neom, the city will have no roads, cars, or emissions and run on 100% renewable energy. SindalahThe island of Sindalah, a yachting resort and part of the Neom project, will be open in 2024, say planners.
Persons: Here's, , Neom, Denis Hickey, " Hickey, Saudi Arabia's Crown Prince Mohammed bin Salman, NEOM Organizations: Service, Street Journal, Bloomberg, Saudi Arabia's Crown Locations: Saudi Arabia, Saudi, Tabuk, Kingdom, Neom, Sindalah, Aqaba, Tabak Province
Amid alarm about costs, the kingdom's sovereign wealth fund has yet to approve Neom's 2024 budget. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia's plan for its $500 billion futuristic city, Neom, is as ambitious as it gets. It seems the project's finances may prove to be a sticking point, however, since the kingdom's sovereign wealth fund has yet to approve Neom's budget for 2024, Bloomberg reported. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Bloomberg, Service, Business Locations: Saudi, Neom, Gulf Kingdom
Saudi Arabia has cut estimates for people living in its $500 billion Neom project. Its government hoped the futuristic "The Line" city would hold 1.5 million by 2030. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia has cut estimates for the number of people living in its Neom megacity project by 2030.
Persons: Organizations: Bloomberg, Service, Business Locations: Saudi Arabia
A development organization in Saudi Arabia is changing perceptions of how regenerative tourism can work. He took a different course: Building a vertically-integrated real estate company to deliver The Red Sea. Across its two larger destinations, The Red Sea and AMAALA, RSG is creating 120,000 new jobs, directly and indirectly. Destinations like The Red Sea and AMAALA aim to build a broader, more leisure-focused tourism sector. This article was created by Insider Studios with Red Sea Global.
Persons: John Pagano, Pagano, St Regis, RSG, RSG —, King Abdullah, I've, University of Prince Mugrin, We're Organizations: Red Sea, St, Ritz, Carlton Reserve, imminently, King, King Abdullah University of Science and Technology, KAUST, Saudi, Hospitality, University of Prince, Tourism, Insider Studios, Sea Locations: Saudi Arabia, London, Bahamas, RSG, Central, Saudi, Red
Humanoid robots are symbols of power and technological capability, a geopolitics expert says. An incident earlier this month involving a Saudi humanoid robot inappropriately touching a female reporter might not at first seem even remotely connected. AdvertisementHumanoids are visual representations of breakthroughs in AIIn Italy, the Istituto Italiano di Tecnologia is working on iCub, a research-grade humanoid robot. AdvertisementChina wants to take the leadWhen it comes to humanoid robots, China is vying for the top spot, so it's no wonder other nations are getting nervous. "The vast magnitude of the market offers an unmatched chance to test, improve, and expand the uses of humanoid robots," he said.
Persons: , Neil Armstrong's, Muhammad, Elie Metri, Giorgio Metta, Metta, there's, Zen Koh, Koh, Peggy Johnson, Johnson, it's, David Becker, OpenAI, Mercedes, Tesla, Julian Mueller, Kaler, Mueller, Tang Ke, Li Boyang, Will Jackson, Johannes Simon, you've, Jackson, we're, Gartner, Nvidia's, Melonee Wise, Justin Sullivan, Metri Organizations: Service, Robotics, QSS Robotics, Muhammad, Istituto, Tecnologia, European Union, Ministry of Industry, Information Technology, Fourier Intelligence, Getty, BMW, Strategic Foresight, Stimson, TIME, Beijing, Conference, Boston Dynamics, Arts, Engineered Arts, GTC, Getty Images Saudi Locations: China, Saudi Arabia, Italy, Soviet Union, Saudi, DeepFest, Riyadh, Robotics Saudi Arabia, India, Nigeria, Shanghai, Oregon, Las Vegas, Texas, Beijing, China's Liaoning Province, San Jose , California, Getty Images Saudi Arabia, QSS, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPro tennis players definitely deserve to make more money, says former USTA CEO Katrina AdamsKatrina Adams, former USTA CEO, president & chair and Harlem Jr. Tennis and Education Program executive director, joins 'Squawk Box' to discuss the battle for the future of tennis, from the 'Premier Tour' proposal from tennis' four major tournaments to the proposed investment from Saudi Arabia's sovereign wealth fund, RacquetX conference, and more.
Persons: Katrina Adams Katrina Adams Organizations: Pro, USTA, Harlem Jr, Tennis Locations: Saudi
A huge new "Dragon Ball" theme park is coming to Saudi Arabia, the franchise owner said. AdvertisementA massive theme park devoted to "Dragon Ball" is due to be built in Saudi Arabia. The owners of the Dragon Ball franchise announced Friday that Saudi Arabia's Qiddiya Investment Company would begin building the only theme park in the world devoted to "Dragon Ball," the hugely popular manga series. On one "Dragon Ball" fan subreddit, the news was greeted with comments like: "I'd prefer not to give the Saudis my money." AdvertisementThe news of the theme park came only weeks after the death of "Dragon Ball" creator Akira Toriyama, who died on March 8 aged 68.
Persons: , Goku, Mohammed bin Salman's, Dragon, Prince Mohammed, Jamal Khashoggi, Akira Toriyama Organizations: Service, Ball, Saudi, Qiddiya Investment Company, Human Rights Watch, Business Locations: Saudi Arabia, Saudi, Qiddiya City, Riyadh, Turkey
Saudi Arabia's behemoth sovereign wealth fund is in talks to buy the kingdom's national airline Saudia, Bloomberg reported over the weekend, citing people familiar with the matter. According to the initial report, the acquisition would see the PIF take over the airline's ownership from the government to increase its efficiency and ability to make profit. Founded in 1945, Saudia has a fleet of 144 aircraft — 93 Airbus planes and 51 made by Boeing — and flies to more than 100 destinations, according to its website. It is not yet known how the airline would be valued. Talks are said to be in early stages, and could be delayed or axed altogether, Bloomberg reported.
Persons: Saudia, Boeing — Organizations: Saudi, Saudia, Bloomberg, Public Investment Fund, Riyadh Air, Airbus, Boeing Locations: Saudi Arabia
Sovfoto/Universal Images Group via Getty Images Putin poses for a picture with his wife, Lyudmila, and daughters, Yekaterina and Maria. Brooks Kraft LLC/Corbis via Getty Images Putin rides a horse during a vacation in Southern Siberia in August 2009. Dmitry Astakhov/RIA Novosti/AFP via Getty Images Putin plays with his dogs Yume, left, and Buffy at his home in Novo-Ogaryovo, Russia, in March 2013. Chris McGrath/Getty Images Putin and Saudi Arabia's Crown Prince Mohammed bin Salman attend the G20 summit in Buenos Aires in November 2018. Getty Images Putin speaks with American right-wing pundit Tucker Carlson during an interview in February 2024.
Persons: Vladimir Putin, Putin, , Dmitry Kiselyov, Mikhail Mishustin, Ukraine –, Kiselyov, , Maria Putina, Archivio GBB, ZUMA Press Wire Putin, Laski, Maria, Vladimir, Anatoly Sobchak, Lyudmila, Yekaterina, Boris Yeltsin, Yeltsin, Fidel Castro, Reuters Putin, George W, Bush, Stephen Jaffe, Camp David, Brooks Kraft, Alexey Druzhinin, Alexey Nikolsky, Mikhail Metzel, Ivan Sekretarev, AP Putin, Dmitry Medvedev, Dmitry Astakhov, Buffy, Angela Merkel, Jochen Lübke, Thomas Bach, Medvedev, Vladimir Konstantinov, Alexei Chalyi, Sergei Aksyonov, Sergei Ilnitsky, Kirill Kudryavtsev, Alexander Lukashenko, Merkel, Francois Hollande, Petro Poroshenko, Mykola Lazarenko, Barack Obama, Ban, Chip Somodevilla, Turkey Andrei Karlov, Karlov, Donald Trump, Chris McGrath, Saudi Arabia's Crown Prince Mohammed bin Salman, LUDOVIC MARIN, Emmanuel Macron, Volodymyr Zelensky, Eliot Blondet, Joe Biden, Antony Blinken, Biden, Sergey Lavrov, Denis Balibouse, Macron, Sergey Ponomarev, Mikhail Gorbachev, , Alexander Nemenov, Alexey Danichev, Xi Jinping, Pavel Byrkin, Yevgeny Prigozhin, Wagner, Prigozhin, Pavel Bednyakov, Kim Jong Un, Kim, Tucker Carlson, Zuma Press Putin, Maxim Shemetov, – what’s, Alexey Navalny, Navalny, ” Putin Organizations: CNN, coy, Kremlin, Getty, Russian, ZUMA Press, Putin, KGB, ZUMA Press Wire, Getty Images, Reuters, US, White House, Camp, Brooks, Brooks Kraft LLC, RIA Novosti, AP, AFP, International Olympic, Crimean, Ukrainian, United Nations, UN, Assembly, Russian Foreign Ministry, Sputnik, World, Saudi Arabia's Crown, Macron, SPUTNIK, New York Times, Central Clinical Hospital, AP Putin, Belarus, State Russian Museum, AP North Korean, Vostochny, Tucker Carlson Network, Zuma Press Locations: Russia, Ukraine, Putin Russia, Russian, Bakhmut, St . Petersburg, Leningrad, Germany, Moscow, AFP, Kazan, Cuba, Soviet Union, Southern Siberia, Russia's Tver, Novo, Ogaryovo, Hanover, Sevastopol, Crimea, Belarusian, Minsk, Belarus, France, Turkey, Helsinki, Finland, Buenos Aires, Ukrainian, Paris, Geneva, Switzerland, Taganrog, Luhansk, Donetsk, Kherson, Zaporizhzhia, Tsiolkovsky, Russia's, North Korea, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrad Gilbert on Saudi Arabia's tennis investment: Hope the players get a much-needed windfallBrad Gilbert, former pro tennis player and pro tennis coach, joins 'Squawk Box' to discuss Saudi Arabia's billion-dollar investment in professional tennis, what it means for the future of the sport, the financial impact on tennis players, and more.
Persons: Brad Gilbert Organizations: Saudi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi Arabia's $2B tennis investment 'feels like PGA Tour-LIV Golf all over again': Patrick RishePatrick Rishe, Washington University in St. Louis director of sports business program and Sportsimpacts founder and president, joins 'Squawk Box' to discuss news of Saudi Arabia's $2 billion investment in tennis, potential impact of the investment on the men's and women's tours and top Grand Slam tournaments, concerns over Saudi's control over the sport, and more.
Persons: LIV, Patrick Rishe Patrick Rishe, Louis Organizations: Saudi, Washington University Locations: St, Saudi
Saudi Arabia's first male humanoid robot inappropriately touched a female reporter last week. But robots aren't self-aware, so it probably wasn't intentional. Saudi Arabia's first "male" humanoid robot caused a stir after it inappropriately touched a female reporter at an AI conference last week. It's worth pointing out that robots aren't capable of feeling anger or having sexual desires, so it's highly unlikely that Muhammad made a deliberate advance at the reporter. AdvertisementLimited functionalityAI-powered robots remain far from achieving human-like capabilities, as Jeff Cardenas, CEO of humanoid robot maker Apptronik, previously told BI.
Persons: , Muhammed, QSS, Sergey Lazarev, Muhammad, Gill Spencer, Jeff Cardenas, they're, Cardenas, Damion Shelton Organizations: Saudi, Service, Metro, Moscow Chess Federation, Arts, Agility Locations: Saudi, Riyadh, Russian
A 'male' humanoid robot appeared to inappropriately touch a female reporter during a presentation. Named 'Muhammad,' it is Saudi Arabia's first humanoid male robot. AdvertisementA Saudi robotics company's unveiling of a "male" humanoid robot didn't go as planned after it appeared to inappropriately touch a female reporter. Saudi robotics company QSS debuted "Muhammad the Humanoid Robot" at DeepFest in Riyadh last week. Saudi Arabia unveils its man shaped AI robot Mohammad, reacts to reporter in its first appearance pic.twitter.com/1ktlUlGBs1 — Megh Updates 🚨™ (@MeghUpdates) March 6, 2024On X, social media users accused the robot of inappropriately touching the female reporter.
Persons: Muhammad, , QSS, Al Arabiya, Rawya Kassem, Mohammad, ake, orth Organizations: Service, Saudi Locations: Saudi, DeepFest, Riyadh, Muhammad, Saudi Arabia, uman
Saudi oil giant Aramco posts 25% fall in full-year profit
  + stars: | 2024-03-10 | by ( Dan Murphy | ) www.cnbc.com   time to read: +2 min
Artur Widak | Nurphoto | Getty ImagesSaudi Arabia's state oil giant Aramco reported a 25% decline in profit to $121.3 billion in 2023, down from $161.1 billion in 2022. Changing HandsThe earnings come after the Saudi government transferred an additional 8% of Aramco shares, worth $164 billion, to Saudi Arabia's Public Investment Fund (PIF). PIF already owned 4% of Aramco, and controls Sanabil, a financial investment firm, which owns 4% of Aramco as well. Aramco said total dividends of $97.8 billion were paid in 2023, up 30% from 2022. watch nowThe PIF's 16% state in Aramco, worth an estimated $328 billion, is set to strengthen its financial position and boost its ability to deploy capital to invest on behalf of the Saudi state.
Persons: Artur Widak, Amin Nasser, Yasir Al Organizations: Aramco, Saudi Arabian Oil Group, World Petroleum Congress, Nurphoto, Getty, Saudi, Saudi Arabia's Public Investment Fund Locations: Saudi, Stampede, Calgary, Canada, Aramco
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023Heavyweights Saudi Arabia and Russia, alongside several other key OPEC+ producers, will extend their voluntary crude supply cuts until the end of the second quarter. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing an official source from the country's Ministry of Energy. Riyadh's crude production will be approximately 9 million barrels per day until the end of June, the announcement said. Back in November, OPEC+ countries had held a formal policy of collectively reducing their output by 2 million barrels per day until the end of 2024. Unlike formal policy changes, voluntary cuts do not require the group's unanimous consent during an official meeting and bypass the need to distribute production cuts or increases among OPEC+ members.
Persons: Energy Prince Abdulaziz bin Salman al, Saud, Alexander Novak, , Prince Abdulaziz bin Salman Organizations: Saudi, Energy, OPEC, Organization for, Petroleum, Saudi Press Agency, country's Ministry of Energy, Tass, Moscow, Google, INA, Hamas, Saudi Energy Locations: Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, Russian, Iraq, UAE, Iran, Gaza, China, Aramco
Saudi Arabia's Public Investment Fund will become the official naming partner of the ATP Rankings and will partner with ATP Tour tennis events, including Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals under a multi-year partnership announced Wednesday. "Our strategic partnership with PIF marks a major moment for tennis. It's a shared commitment to propel the future of the sport," ATP CEO Massimo Calvelli said in a press release. A deal to merge the PGA Tour and the Saudi-backed LIV tour is still in negotiations and there is no deadline for the talks to end. The PIF launched the LIV tour in 2022, luring away top stars from the PGA Tour, including Phil Mickelson, Dustin Johnson and Brooks Koepka, with hundreds of millions in signing bonuses.
Persons: Hamad Medjedovic, Arthur Fils of, Massimo Calvelli, LIV, Phil Mickelson, Dustin Johnson, Brooks Koepka, Crown Prince Mohammed bin Salman, Mohamed AlSayyad Organizations: King Abdullah Sports City, Saudi Arabia's Public Investment Fund, ATP, ATP Tour, PGA Tour, PIF, LIV, PGA, Saudi, Crown, U.S Locations: Serbia, Arthur Fils of France, Jeddah, Saudi Arabia, Saudi, Indian Wells, Miami, Madrid, Beijing
Shares of oil giants and European infrastructure companies can act as a hedge against inflation while also delivering strong annual growth, according to fund manager Freddie Lait. Lait manages two funds — the Latitude Horizon Fund and the Latitude Global Fund — with more than $750 million of assets collectively and holds all three stocks in both funds. BP SHEL 1Y line The fund manager explained that with oil currently around $85 per barrel, and his assumption of $70-75 long-term, his oil and gas stock picks can generate nearly double-digit annual returns for shareholders. 'Phenomenally interesting' stock Beyond energy names, Lait said his favorite inflation-linked stock is Vinci which he described as "phenomenally interesting." The company operates a mix of toll roads and civil engineering projects with long-term inflation adjustment mechanisms.
Persons: Freddie Lait, Lait, Vinci, Goldman Sachs Organizations: Latitude Investment Management, Shell, CNBC Pro, International Energy Agency, London Gatwick, Atlantic City International, Vinci Locations: Saudi Arabia's, Aramco, Burbank, United States
AdvertisementSaudi Arabia is borrowing to help fund an array of ambitious projects including the $500 billion Neom desert megacity, The Wall Street Journal reported. Under its ambitious ruler Mohammed bin Salman's Vision 2030 project, Saudi Arabia is seeking to diversify its economy away from fossil fuels and become a global hub for technology and innovation. The Saudi sovereign wealth fund, the Public Investment Fund, is providing funding for cornerstone "gigaprojects" estimated to cost tens of billions of dollars apiece. He said Saudi Arabia may need to raise another $270 billion for the Public Investment Fund by 2030. AdvertisementThe International Monetary Fund said in October that the Saudis needed oil to be about $86 a barrel to fund its spending commitments.
Persons: Mohammed bin Salman's, Tim Callen, Brent, Karen Young Organizations: Street Journal, Public Investment Fund, Aramco, Gulf States Institute, Saudi, Bloomberg, Monetary Fund, US Energy Information Administration, Middle East Institute Locations: Saudi Arabia, Saudi, Washington, Diryah
American consulting shops like McKinsey & Co., BCG, Teneo, and M. Klein & Co. are helping Saudi Arabia diversify its oil-dependent economy through its lucrative Public Investment Fund. This story is available exclusively to Business Insider subscribers. Saudi Arabia, though, has imposed strict rules on what information the American consulting companies can share with the US government, and that's irked some American lawmakers. AdvertisementSo much so that Congress forced the heads of McKinsey, BCG, Teneo, and M. Klein & Co. to testify this week about their failure to comply with subpoenas regarding their firms' work with Saudi Arabia . BCG, Teneo, and M. Klein & Co. did not respond to a request for comment from Business Insider.
Persons: , Cristiano Ronaldo, Sen, Richard Blumenthal, Bob Sternfels, Rich Lesser, Blumenthal, Michael Klein Organizations: Service, McKinsey & Co, Klein, Co, Public Investment Fund, Business, Saudi, Al, McKinsey, Investigations Locations: Saudi Arabia, United States, Saudi
The kingdom of Bhutan is planning a "mindfulness city" that, if built, will cover some 2.5% of the country — an area larger than Singapore. Plans show the 1,000-square-kilometer city will be built near the town of Gelephu, along Bhutan's southern border with India. "Gelephu Mindfulness City," as it's called in the project's masterplan, will serve as an economic hub and gateway for tourists to the rest of the country, according to a press release published in late January. However, most other international visitors fly into Paro International Airport, near Bhutan's largest city and capital, Thimphu, which is some 26 square kilometers in size. Like Saudi Arabia's planned linear city, called The Line, Gelephu Mindfulness City rethinks how modern cities look, function and serve the needs of residents.
Persons: Bhutan's, Jigme Khesar Namgyel Wangchuck Organizations: Paro International, Saudi Locations: Bhutan, Singapore, Gelephu, India, Paro, Bhutan's, Thimphu
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But while the US enjoys overwhelming military superiority over the Houthis, defeating this tribal movement would be a nightmare. Case in point: Egypt tried to suppress the Houthis in the 1960s. Today's Houthis are attacking ships in the Red Sea – and hurling ballistic missiles at Israel – ostensibly in response to Israel's military operations in Gaza. Indeed the rebellion eased Israel's lightning victory in the 1967 Six-Day War, a fact that the Houthis have chosen not to publicize.
Persons: , Gamal Abdel Nasser, Jesse Ferris, Nasser's Gamble, Nasser, quagmire, Islam –, Yemen —, Ferris, Mohammed Hamoud, Israel –, Israel, Lawrence Organizations: Service, Business, Broadway, Israel Democracy Institute, Palestine, US, Royalists, British, Yemeni Locations: Yemen, Egypt, Vietnam, British, Zaidi, Islam, Arab, Soviet, Russia, America, Afghanistan, Gaza, Saudi, Britain, Israel, Iran
Oil prices mostly flat as Blinken's Middle East visit assessed
  + stars: | 2024-02-06 | by ( ) www.cnbc.com   time to read: +1 min
This image taken near Calgary, Alberta, where the oil industry is a major economic driver. Oil prices were little moved in early trading on Tuesday, as market participants assessed a visit to the Middle East by U.S. Secretary of State Antony Blinken to discuss a ceasefire offer in the region. Brent crude futures were down 2 cents at $77.97 a barrel as of 00:01 GMT, while U.S. West Texas Intermediate crude futures edged down 3 cents to $72.75. The United States continued its campaign against Iran-backed Houthis in Yemen, whose attacks on shipping vessels have disrupted global oil trading routes. In Russia, two Ukrainian drones struck the largest oil refinery in the country's south on Saturday, a source in Kyiv told Reuters.
Persons: Antony Blinken, Blinken, Saudi Arabia's Organizations: U.S, Brent, West Texas, United, Reuters Locations: Calgary , Alberta, East, Saudi, Rafah, Gaza, United States, Iran, Yemen, Russia, Ukrainian, Kyiv
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