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In Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. A pair of tracks cuts through the site like deep gashes through the sand, comprising the spine of what planners say will be a high-speed rail system.
Saudi Arabia's massive Neom megaproject, a multi-trillion dollar plan to develop a swathe of land the size of Massachusetts, has replaced its CEO in a significant reshuffling as the kingdom faces questions over the economic viability of its ambitions.
Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million.
U.S. oil producers are looking forward to less regulations on crude production under a Donald Trump presidency, meaning higher oil supply and consequently lower prices.
RIYADH, Saudi Arabia — Major Wall Street CEOs see ongoing inflation pressures in the U.S. economy and aren't convinced that the Federal Reserve will continue its rate-easing path with a further two reductions this year.
The head of oil producer alliance OPEC brushed off forecasts of dwindling crude demand in the coming year, saying there was too much pessimism in the market — despite the group extending production cuts just one day prior in an attempt to shore up prices amid subdued global consumption.
Whoever wins the 2024 U.S. election should work to preserve America's energy dominance rather than risk losing it, TotalEnergies CEO Patrick Pouyanne told CNBC on Monday.
RIYADH — National debt is a major threat to markets in the near future, Saudi Arabia's finance minister said, expressing particular concern over lower income countries as well as what he described as rapidly growing global fragmentation.