RIYADH | SAUDI ARABIA – Saudi Arabia’s energy ministry is to offer assistance so that NEOM, a $500 billion high – tech development that includes tourism and sport facilities on the Red Sea, can be completed on Schedule, minister Abdul Aziz bin Salman said on Sunday.
The 26,500 square km development, first revealed in 2017 with a planned completion in 2025, will include high-tech project powered by wind and solar energy.
Neom CEO Nadhmo al-Nasr, speaking at the signing ceremony of a cooperation agreement with the ministry, said the city will rely totally on renewable power, including solar, wind and hydrogen produced from renewable energy sources.
‘We have to preserve and make all our capacities available to realize this project’, prince Abdul Aziz told a press conference at the ceremony, broadcast on Al-Arabiya TV channel.
The project is part of Crown Prince Mohammed bin Salman’s Vision 2030 plan that aims to attract foreign investment and create jobs in a bid to wean the kingdom off reliance on oil.
PARIS, France – Saudi Arabia’s Supreme Court has called on all Muslims in the Kingdom to sight the Dhu al – Hijjah crescent moon on Wednesday evening, the official Saudi Press Agency reported on Monday. The sighting of the moon marks the beginning of the Dhu Al – Hijjah Islamic month in which the Hajj … More Saudi Arabia Calls On Muslims To Sight Dhu Al – Hijjah Crescent Moon
PARIS, France – Saudi Arabia’s industry and Mineral Resources said on Friday the country would invest $3.4 billion in the vaccine and biomedical drugs sector, according to state news agency SPA. The Minister Bandar Alkhorayef, who heads the newly – established vaccines and biopharmaceutical industry committee, said the move is part of the kingdom’s push … More Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector
PARIS, France – Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Egypt on Monday and was welcomed by Egyptian President Abdel – Fattah el Sisi, state news agency SPA reported. The Crown Prince’s visit to Egypt is part of a tour that will include visiting Jordan and Turkey next. The visits were based on … More Saudi Arabia’s Crown Prince Arrives In Egypt, Will Visit Jordan And Turkey Next
PARIS, France – Saudi Crown Prince Mohammed bin Salman will visit Egypt on June 20 as part of a regional tour that includes stops in Jordan and Turkey, two diplomatic sources said on Saturday. Prince Mohammed will meet Egyptian President Abdel Fattah al – Sisi to discuss issues including the impact of the war in … More Saudi Crown Prince To Visit Egypt June 20 On Regional Tour
PARIS, France – Sheikh Mansour bin Zayed, the UAE’s deputy prime minister and minister of presidential affairs, on Wednesday launched the National Media Office. The unit is tasked with developing the media sector, legislation, regulations, and decisions on media development while also monitoring the implementation of legislation in coordination with the relevant authorities and administrative … More Sheikh Mansour Bin Zayed Establishes National Media Office in UAE
PARIS, France – Abu Dhabi state fund Mubadala and a fund managed by European buyout firm EQT have agreed to buy Envirotainer, a Swedish company which leases out cold containers for shipping temperature – sensitive healthcare products. Mubadala and the EQT X fund are buying the company from European buyout firm Cinven and Denmark life … More Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer
WASHINGTON – The White House took the rare step of recognizing the role played by Saudi Arabia’s Crown Prince Mohammed bin Salman in extending a ceasefire in Yemen on Thursday ahead of what is expected to be a trip to Riyadh by President Joe Biden. White House press secretary Karine Jean – Pierre told reporters … More White House Praises Saudi Crown Prince Ahead Of Expected Biden Trip
MILAN – Italy’s top soccer league Serie A is in talks over a broadcast deal with state – backed Abu Dhabi Media and on a separate agreement to host its Super Cup in the emirate, three sources with knowledge of the matter said. Home to AC Milan, Juventus and other top clubs, Serie A is … More Soccer Serie A Seeks Abu Dhabi Deals On TV Rights, Italian Super Cup – Sources
PARIS, France – Russian Foreign Minister Sergei Lavrov will visit Saudi Arabia on Wednesday where he will meet with the foreign ministers of the Gulf Cooperation Council Countries (GCC), two Gulf officials said on Tuesday. Lavrov is expected to meet with ministers of Saudi Arabia, the United Arab Emirates, Oman, Kuwait, Bahrain and Qatar in … More Russia’s Lavrov To Meet With GCC Ministers In Riyadh On Wednesday – Officials
DUBAI – Dubai’s Emirates Central Cooling System Cooperation (Empower) has invited investment banks to pitch for roles in its planned initial public offering, which is slated for later this years, two sources with direct knowledge of the matter said. Empower, which is part owned by Dubai Electricity and Water Authority (DEWA), has asked banks to … More Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources
DAVOS, SWITZERLAND – Saudi Arabia’s finance minister said on Monday there were no immediate plans to transfer more funds to the Public Investment Fund (PIF), the sovereign wealth fund at the centre of the kingdom’s plans to diversify its economy away from oil. The PIF manages over $600 billion in assets, a figure that has … More Saudi Finance Minister Says No Immediate Plans To Transfer More Funds To PIF
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