Saudi Arabia’s public investment fund (PIF) could be set for yet another cash boost after crown prince Mohammed bin Salman (MBS) announced plans to sell off more shares in state-controlled oil company Aramco. The PIF is the main source of funding...
Neom, the megacity project estimated to cost $500bn, is being funded by Saudi Arabia’s Public Investment Fund (PIF) – a sovereign wealth fund currently worth around $400bn. The PIF was touted by Saudi ruler crown prince Mohammed bin Salman as being...
Saudi Arabia’s de facto ruler, crown prince Mohammed bin Salman (or MBS) has announced that a zero-carbon city called “The Line” is to be built as part of the $500bn Neom project. The new city would cover 170km and house a million residents, said...
The Kingdom of Saudi Arabia announced that investments in the new city of Neom, is likely to reach 500 billion dollars. Following this, major investors withdrew from the project due to the bad reputation bin Salman enjoys abroad. Bin Salman started...
The Dakar Rally, a leading international off-road endurance race, is set to take place in Saudi Arabia in January – and campaigners are urging those involved to stand in solidarity with the victims of Saudi human rights abuses. The event, organised...
A spokesperson for the Huwaitat tribal community, which is currently facing eviction from their land in Saudi Arabia to make way for the regime’s Neom megacity project, has spoken to the media about threats made against her. Alya al-Howeiti, who now...
Saudi Arabia has pumped a further $3.75 billion into the Red Sea Development Co, which aims to work with local and national investors to provide entertainment facilities at Neom. The money will, in part, go towards employing 70,000 people. John...
Women’s rights in KSA Saudi Arabia’s Neom megacity project wants to be known as a modern oasis in the Gulf states, where men and women from around the world can enjoy the type of liberal lifestyle that they are used to. Yet Saudi Arabia’s latest...
Saudi minister says projects like Neom will create 1m jobs… somehow Saudi Arabia may be reeling from the coronavirus crisis, falling oil revenue and, perhaps most importantly, international condemnation over its abysmal human rights record – but...
The UK’s Department for International Trade (DIT) has attempted to boost Saudi projects like Neom by saying it is “hugely exciting” to potential investors – despite a marked lack of interest. Chad Woodward, director of trade and investment at the...