Latest news with #NOEM
News.com.au
25-05-2025
- Business
- News.com.au
Insane look at world's first ‘vertical ski village' in Saudi Arabia
It's a stark, mountainous moonscape deep in the Saudi Arabian desert. But it is about to become the world's most exotic ski resort. All it takes to achieve this is money. Lots of it. The enormous Trojena mountain retreat sits 2500m high on Jebel al Lawz, a mountain in northwest Saudi Arabia. It's being touted as the world's first 'vertical ski village'. At its heart is 30km of artificial ski slopes winding above towering hotels, villas and shopping malls. And its artificial snow machines will be fed by an artificial lake containing 57 billion litres of water. The Trojena ski city is just one of six megaprojects that form Saudi Arabia's exceedingly ambitious NOEM future is the brainchild of Crown Prince Mohammed bin Salman Al Saud, also known as MBS. If completed, his bold vision would embed his initials alongside history's legendary builder kings, from Darius the Great and King Solomon to Emperor Hadrian and Pharaoh Seneferu. But his $14 trillion dream is in trouble. Discover life at new heightsâ€'at the Ski Village. Experience the joy of waking up above the clouds, surrounded by endless experiences at every level. This is mountain living, elevated in every sense. Welcome to a lifestyle where the sky is truly the limit. — TROJENA (@NEOMTROJENA) March 5, 2025 Critics claim as many as 21,000 workers have been killed since work began in 2017. And some $80 billion has already been sunk into the foundations of megastructures including the 170km long, 500m tall mirrored 'long-scraper' The Line. NEOM is believed to have depleted its cash reserves to about $24 billion. That may be why its longstanding Chief Executive Officer unexpectedly quit his role last year amid accusations of cost blowout cover-ups and cooked books. The Crown Prince has taken seven months to settle on a replacement. Head among the clouds The Crown Prince envisions a luxurious, ultra-modern, green-tech future built on the final decades of revenue from his nation's vast oil reserves. His idea is to entice big tech investors to set up shop in a dazzling showcase of their wares. And sky-high ski slopes are supposed to be a significant early selling point. 'It's integral because it exhibits an overall spectrum of what NEOM can offer – from the coastal beach developments and our car-free city, The Line, all the way to our automated port and the airport,' Trojena Executive Director Philip Gullett says in a website statement. From up there you can look over to the Gulf of Aqaba too. And over to Egypt as well as the whole NEOM region,' But time is running out. Saudi Arabia has signed up to host the 2029 Asian Winter Games. That puts a hard construction deadline of just four years for the resort's completion. Gullett told the Saudi Giga Projects Summit last week that work on his portion of the NEOM mega project was 'a military operation'. To nobody's surprise, he added the remote mountain location has posed a considerable challenge. Being in the middle of a desert also presents practical problems. 'Most of the snow in Trojena will be machine-made snow,' Trojena's senior development manager admits on Instagram. 'Over the past five winters, we've rigorously tested snow-making technologies and meticulously designed our future slopes to deliver unforgettable adventures with minimal environmental impact.' Money matters NEOM's interim CEO, Aiman Al-Mudaifer, has now been formally embedded in the role. He's been tasked with fast-tracking the completion of several key project components. 'Over the past months, Al-Mudaifer has remained focused on maintaining operational continuity, improving efficiencies and accelerating progress across NEOM's strategic projects and regions,' a NEOM press statement reads. But analysts suspect this will likely involve dramatic cutbacks. Amid labour and supply shortages, this will enable efforts to be focused on completing the first 2.5km segment of the 170km long The Line megastructure. This portion of the automated residential city will include a vast new stadium. And that must be finished by 2034 to host the 2034 FIFA World Cup. Mudaifer, a building engineer, previously headed Saudi Arabia's Public Investment Fund's real estate division. He has initiated an in-depth review of the NEOM project's goals, progress, and where new priorities should be placed. Predictions that the scheme will take another 50 years to complete have been criticised as overly optimistic. And its $14 trillion price tag – a figure NEOM executives fiercely dispute – is 25 greater than Saudi Arabia's annual gross domestic product (GDP). The International Monetary Fund (IMF) has warned global oil prices must consistently remain above $US100 per barrel for the kingdom to afford its exploding debt. It currently stands at just above $US60. However, the Crown Prince is determined to drum up global excitement for his dream. US President Donald Trump viewed models of the kingdom's development plans on his recent visit to the Gulf region. US media reports Saudi Arabia's Public Investment Fund (PIF) has since signed several multi-billion dollar deals with US investors.
Fox News
11-02-2025
- Business
- Fox News
Trump has higher approval rating than at any point during first term: poll
President Donald Trump has the highest approval rating now compared to any point during his first term in office, according to a new poll. Forty-seven percent of Americans approve of Trump's job performance in the less than a month since he was sworn in as the 47th president, the latest national survey by the Pew Research Center found. While that's higher than at any point while he served as the 45th president, Trump's inaugural approval rating sinks below that of most other presidents since Ronald Reagan. George W. Bush's approval rating early in his second term, however, was about the same as that of Trump now. The poll, conducted Jan. 27 to Feb. 2 among 5,086 adults, found nearly three in ten adults, or 28%, view Trump's actions as better than expected, while 36% said they have been what they expected. His actions are viewed as worse than expected by 35% of adults. Americans are fairly evenly split over how they believe Trump's White House will affect the federal government. The survey found 41% of adults said they believe Trump's administration will improve the way the federal government works, and 42% said they believe the state of the federal government will worsen with him in office. Public opinion on Trump's agenda remains starkly divided along partisan lines. The poll found 67% of Republicans, including those who lean red, support all or most of Trump's plans and policies. For Democrats and those who lean blue, 84% support few or none. Almost an identical share of Republicans, 76%, said Trump will improve the way the federal government operates, as Democrats, 78%, said Trump will make the federal government run worse. NOEM: 'GET RID OF FEMA THE WAY IT EXISTS TODAY'For Republicans, 53% viewed Trump's recent actions as better than expected, while the poll found 60% of Democrats view the president's accomplishments as worse than expected. As Trump enters his fourth week back in office, his efforts to slash wasteful federal government spending through the Department of Government Efficiency (DOGE) have caused a stir in Washington. His threat of tariffs against Canada and Mexico and levied against China over the flow of deadly fentanyl across American borders has similarly raised concerns. Trump's angling for the Panama Canal and Greenland amid the increasing Chinese presence in the Western Hemisphere, as well as his administration overseeing a collapsing ceasefire agreement between Hamas and Israel in the Middle East have put the world on notice. Trump's advisers are expected to meet with Ukrainian President Volodymyr Zelenskyy this week in Munich as the war with Russia stretches into its third year. Raging wildfires in California, a deadly military helicopter-passenger jet collision in D.C., and the continuing aftermath of last year's hurricane devastation in the southeast, particularly in North Carolina, are putting Trump's new Cabinet chiefs to the test on the domestic front, as is Trump's crackdown on criminal illegal immigration.
