Al-Swaha Reviews Latest Strategic Plans for Digital, Innovative Projects in NEOM

The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM. SPA
The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM. SPA
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Al-Swaha Reviews Latest Strategic Plans for Digital, Innovative Projects in NEOM

The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM. SPA
The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM. SPA

The Saudi Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha, has toured NEOM to review the progress of strategic plans and innovative digital projects aimed at building the Kingdom's city of the future, a statement said.

During the tour, Al-Swaha met with NEOM's Chief Executive Officer, Eng. Nadhmi Al-Nasr and the senior executive team at Tonomus, the statement issued by the Ministry of Communications and Information Technology said.

Tonomus, a subsidiary of NEOM, is responsible for delivering cutting-edge digital infrastructure and developing cognitive solutions for NEOM and its subsidiaries. Tonomus executives briefed Al-Swaha on the projects' progress and outlined future plans for deploying digital technologies at NEOM, within the Kingdom, across the region, and globally.

Al-Swaha emphasized that under the leadership of Crown Prince Mohammed bin Salman, the Kingdom is accelerating towards a more prosperous future through innovative projects designed to empower future generations.

As part of the tour, the minister visited NEOM's Command Center and the Tonomus Innovation Hub. He also met with students participating in NEOM's scholarship program, highlighting their crucial role in the growth of Saudi Arabia's digital economy, research and development, and innovation ecosystem. The minister noted their significant contribution to strengthening the Kingdom's global competitiveness in these areas.



Bitcoin Rises Above $94,000 for First Time

FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
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Bitcoin Rises Above $94,000 for First Time

FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

Bitcoin rose to a record high above $94,000 as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt boosted expectations of a crypto-friendly regime under his incoming administration.
Bitcoin, the world's biggest and best-known cryptocurrency, has more than doubled this year. It was last at $93,521 on Wednesday, having hit a high of $94,078 in early Asian trading hours.
The Financial Times said Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, which is backed by NYSE-owner Intercontinental Exchange.
"Trump's seeming interest to push further into crypto on a personal level has contributed to optimism that crypto will be a top priority when Trump takes office," said Stéphane Ouellette, chief executive officer of crypto trading firm FRNT Financial.
Earlier this week, the Wall Street Journal reported Trump was meeting privately with the crypto exchange CEO Brian Armstrong, further aiding sentiment.
Cryptocurrencies have soared since the Nov. 5 US election as traders bet President-elect Trump's promised support for digital assets would lead to a less restrictive regulatory regime.
Options trading over BlackRock's spot bitcoin ETF on the Nasdaq made a strong debut on Tuesday with a bullish call-to-put ratio of 4.4:1, according to QCP Capital.
"We expect these options to be popular and, in turn, may positively influence trading volumes of these ETPs (exchange traded products) as the underlying," said Kenneth Worthington, analyst at J.P.Morgan.
The growing excitement has taken the global cryptocurrency market's value above $3 trillion to a record high, based on analytics and data aggregator CoinGecko.
US spot bitcoin exchange traded products have attracted about $4.2 billion in inflows since Trump's election victory, about 15% of the total inflows since the products were launched on US stock exchanges in January, Reuters reported.
Chris Weston, head of research at Australian online broker Pepperstone, said there is real underlying buying pressure for bitcoin, and "another kick higher should bring in a fresh chase from those who like to buy what's strong".