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Saudi Arabia's Sci-Fi Megacity in the Desert Isn't Going Well

The hugely ambitious sci-fi-tinged dreams that have animated the project seem to be dying while being replaced with more realistic plans. ....

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Saudi Aramco recorded its first annual profit drop since 2020

The Gulf state–owned company's dip comes amid broadly falling prices for the oil industry ....

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How rich is Saudi Arabia?

How rich is Saudi Arabia? Kingdom does the math in balance sheet overhaul
Crown Prince Mohammed bin Salman aims at diversifying economy of the world s top oil exporter away from fossil fuel
Reuters
February 23, 2021
Residency programme would help KSA generate new revenues for the national economy, says Deputy Crown Prince Mohammad Bin Salman. PHOTO: AFP
DUBAI:
Saudi Arabia wants to demystify its finances.
The kingdom is working on creating a consolidated balance sheet of its assets and liabilities which will include items currently kept off the oil-rich economy s books, including the investments and debts of its powerful sovereign wealth fund. ....

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Is the Saudi 'city of the future' overly ambitious?

© Getty Images
In this time of COVID-19 and a U.S. presidential transition, many are asking, “What is the future?” Apparently, it is Saudi Arabia. More precisely, it is an area of mountainous desert in the northwest of the kingdom that is the site of a futuristic, hi-tech city called NEOM.
The NEOM project was announced in 2017. This week it appears to have been relaunched in a massive public relations campaign, including a video presentation by its principle advocate, Crown Prince Mohammed bin Salman, the visionary (and controversial) de facto ruler also known as MbS.
At time of writing, the Wall Street Journal has yet to give editorial mention of that news but on Tuesday, the back page of its main section carried an advertisement depicting a grayish aerial shot of a city, probably New York, divided vertically by finger-width-line depicting the rich green foliage of a forest glade. On one side of the page were the words, “Cities separated us from nature”; o ....

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Buildings the French prime minister Edouard Filipe has set out details of a flagship plan for a universal pension scheme a major overhaul that sparked nationwide protests and strikes it would standardize a system currently made up of 42 separate schemes he Schofield reports from powers it is a delicate balancing act for the government of France if it gives too much ground to the protesters and the pensions reform will lose its force but not give enough and the strikes and demonstrations will continue it awfully conceded nothing on the central point of the reform which is to end the multiplicity of pension systems which currently favor or disadvantage different groups of workers they will he said be one universal system but the prime minister said that the introduction would be very gradual with only those entering the workplace in 2022 having their pensions entirely calculated under the new system the teenage environmental campaigner Grettir has been named Time magazine s Person of th ....

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