The Ritz-Carlton in Riyadh was supposed to represent the polished face of modern Saudi luxury: marble interiors, chandeliers and suites designed for presidents, royalty and wealthy visitors. Nearly nine years after the hotel became the centre of...
Saudi Arabia’s PIF spent more than $5 billion building a rival capable of disrupting global golf. Four years later, LIV Golf has filed for Chapter 11 — and the sovereign wealth fund is providing just $49.6 million to finance its restructuring. Four...
NEOM University did not need a formal cancellation announcement. According to Times Higher Education, something quieter appears to have happened: the name disappeared, senior figures left, detailed references to the university were removed from...
A reported €6 billion Saudi investment could create 22,000 jobs in France. Behind the headline — and the story of Mohammed bin Salman and Emmanuel Macron’s shared enthusiasm for Dragon Ball Z — lies a more serious question about how Saudi sovereign...
Red Sea Global is turning to bank debt, advance property sales and international hotel operators as the PIF-backed tourism experiment enters a more demanding phase: proving that its resorts can finance themselves. For years, the financial model...
After years of Saudi backing, the electric-vehicle maker is confronting product problems, delayed launches and a more fundamental question: what exactly have the billions bought? For years, Saudi Arabia’s investment in Lucid Motors was...
Saudi Arabia’s push into artificial intelligence and data centers is adding another enormous financing requirement to an economy already trying to fund the costly ambitions of Vision 2030. According to Semafor, HUMAIN, the Public Investment Fund...
When Saudi Arabia opened Sindalah in 2024, the island was presented as the first major project to emerge from NEOM and as proof that the kingdom’s futuristic plans were finally becoming reality. The launch was heavily promoted. Saudi officials...
For years, Saudi Arabia has promoted Vision 2030 as the blueprint for building a diversified economy capable of reducing the kingdom’s dependence on oil. Hundreds of billions of dollars have been invested in tourism, entertainment, sports...
Saudi Arabia’s Vision 2030 is routinely presented as an economic transformation designed to create jobs, increase productivity and build a society prepared for a post-oil future. But beneath the headline reforms, a more complicated social and...