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Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM When Saudi Arabia first announced plans to reinvent its oil-based economy, huge infrastructure projects like the futuristic region NEOM and smart city The Line were championed as central to the transformation. Almost a decade on from the launch of its “Vision 2030” … Read more
Good morning from Riyadh, where we are hosting the Fortune Global Forum. We’ve had some fascinating conversations about the business implications of the convergence of technology, geopolitics, demographics and more. AI was top of mind, from Google President Ruth Porat’s predictions about curing cancer to influencer Jordi van den Bussche’s business that’s built on creating … Read more
At the Fortune Global Forum in Riyadh, Saudi Arabia’s Minister of Investment, Khalid A. Al-Falih, described the breakthroughs occurring under Vision 2030, the kingdom’s economic transformation plan that is roughly nine years old. Describing 2025 as a “pivotal moment,” the minister argued that “the very foundations of global business are being shaken, in a way, … Read more
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM DUBAI, United Arab Emirates — Saudi Arabia’s sovereign wealth fund is reassessing its flagship $500 billion futuristic city called The Line. The public investment fund has tapped consulting firms to conduct a strategic review into the feasibility of the 105-mile linear city, … Read more
Bahrain has just 1.5 million people. That’s smaller than many cities around the world, much less other countries. In terms of area, the Persian Gulf island nation is only about 300 square miles. But its size is not a disadvantage, according to Noor Al Khulaif, Bahrain’s minister of sustainable development. “The way we see it … Read more
There’s a lot of noise around gender-segregated education in Saudi Arabia. But the Kingdom’s head of human rights says that if it wasn’t for the system in place, many young girls would miss out on being educated—herself included. “I can tell you that we received a lot of harsh criticism on segregating schools,” H.E. Dr. … Read more
If there’s one thing President Donald Trump likes almost as much as big economic deals, it’s low gas prices. His current trip to the Gulf states is bringing those two goals into conflict. The administration has touted an investment from Saudi Arabia described as totaling $600 billion or, in one case, $1 trillion. It’s a … Read more
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Riyadh, Saudi Arabia. Johnnygreig | E+ | Getty Images Crashing oil prices triggered by waning demand, global trade war fears and growing crude supply could more than double Saudi Arabia’s budget deficit, a Goldman Sachs economist warned. The bank’s outlook spotlighted the pressure on the kingdom to make changes to its mammoth spending plans and … Read more
By Hadeel Al Sayegh DUBAI (Reuters) – Abu Dhabi’s Mubadala Investment Company accounted for about 20% of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia’s wealth fund amid a surge in spending from Gulf countries. Mubadala and its subsidiaries deployed $29.2 billion in 2024, up from $17.5 billion … Read more
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