NEOM Forms its Global Advisory Board

Visitors watch a 3D presentation during an exhibition on NEOM in Riyadh. (Reuters)
Visitors watch a 3D presentation during an exhibition on NEOM in Riyadh. (Reuters)
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NEOM Forms its Global Advisory Board

Visitors watch a 3D presentation during an exhibition on NEOM in Riyadh. (Reuters)
Visitors watch a 3D presentation during an exhibition on NEOM in Riyadh. (Reuters)

NEOM, the destination for the future of living being developed in the Northwest of Saudi Arabia, announced on Tuesday its global Advisory Board. The Board brings together experts in key sectors to provide industry insight, advise on key milestones and forge strategic connections for NEOM.

Nadhmi Al-Nasr, CEO of NEOM, said: “We welcome the global and diverse expertise of the Advisory Board and are confident that each of them will make huge contributions to the development of NEOM. The Advisory Board will help shape NEOM’s future through its detailed knowledge and connections with potential long-term strategic partners.”

The members of the Advisory Board come from backgrounds in urban planning, architecture, design, technology, sustainability, energy and manufacturing. Those members have previously been engaged with NEOM in a meeting held in New York, USA in August 2018 to review NEOM’s strategy and discuss updates on the project.

Each of the Advisory Board members has been carefully chosen for their expertise and has demonstrated relevant experience, a global business background, familiarity with large-scale projects, senior board-level roles, international influence and enthusiasm for the aims of NEOM.

The members of the Advisory Board are:

- Sam Altman, President of YC Group and Co-Chairman of Open AI. Altman is an American entrepreneur, investor, programmer and blogger. He was named the top investor under 30 by Forbes in 2015 and one of the "Best Young Entrepreneurs in Technology" by Businessweek in 2008. Altman is also the Chairman of two energy companies, Helion and Oklo.

- Marc Andreessen, Co-Founder and General Partner of Andreessen Horowitz. Andreessen is a pioneer in the tech world. He founded software companies like Opsware, Mosaic, Netscape and Ning. Andreessen sits on the board of directors of Facebook, eBay and Hewlett Packard Enterprise among others. Andreessen was one of six inductees in the World Wide Web Hall of Fame announced at the First International Conference on the World-Wide Web in 1994.

- Tim Brown, CEO and President of IDEO. IDEO focuses on the value of design thinking to business people and designers. Brown discusses this around the world, including at the World Economic Forum in Davos and through TED Talks. He is an industrial designer by training and has earned numerous design awards, as well as advising senior business leaders.

- Timothy Collins, Founder and CEO of Ripplewood Advisors, L.L.C. Collins founded investment firm Ripplewood in 1995, with previous experience at Onex Corporation, Lazard Freres & Company, Booz Allen Hamilton and Cummins Engine Company. He has served on a number of corporate boards and is currently Chairman of the Yale SOM Advisory Board.

- Alexandra Cousteau, Senior Advisor to Oceana. Cousteau is an expert in environmental issues and is currently a National Geographic Emerging Explorer, filmmaker and global oceans expert.

- Dan Doctoroff, Founder and CEO of Sidewalk Labs. Before taking over Sidewalk Labs, Doctoroff was President and CEO of Bloomberg L.P., with previous roles including Deputy Mayor for Economic Development and Rebuilding in New York and Managing Partner of Oak Hill Capital Partners. He serves on the boards of the University of Chicago, World Resources Institute, the US Olympic Committee, Bloomberg Philanthropies and Human Rights First. He also helped found several charitable organizations.

- Lord Norman Foster, Founder and Executive Chairman of Foster + Partners. Foster + Partners is a global studio for architecture, urbanism and design. Notable projects include Reichstag in Berlin, the Great Court of British Museum, Boston Museum of Fine Arts, Headquarters of Apple, Bloomberg and Comcast and airports in Hong Kong and Beijing. He is also the President of the Norman Foster Foundation.

- Jean Fréchet, Distinguished Professor of Chemistry. Fréchet is a Professor emeritus at the University of California, Berkeley and Vice President for Research at the King Abdullah University of Science and Technology (KAUST), Saudi Arabia. He is a leader in developing strategies and managing resources to support interdisciplinary, collaborative research bridging science and engineering. Professor Fréchet is the author of over 800 publications with more than 106,000 citations and 200 patents.

- Travis Kalanick, CEO of City Storage Systems, a holding company focused on redeveloping real estate assets to fuel urban job creation and neighborhood rejuvenation. Kalanick is also Co-Founder and former CEO of Uber. During his seven years leading Uber, the company grew to operate in more than 70 countries, employed over 15,000 people and provided 3 million drivers with flexible work opportunities to complete over 5 billion rider trips. Prior to Uber, he founded Red Swoosh, a networking software company.

- Neelie Kroes, Former Vice President of the European Commission. Neelie is a former EU Commissioner, the first term as EU Commissioner for Competition Policy and the second term as Commissioner in charge of the Digital Agenda for Europe. In the last term, she was also Vice President of the European Commission. Before that, Neelie Kroes was Minister for Transport, Public Works and Telecommunication in the Netherlands. Currently, she serves on various international company boards.

- Andrew Liveris, Former Chairman and CEO of Dow Chemical and Executive Chairman of DowDuPont. Liveris ran Dow, a producer and marketer of chemical, materials, plastics and specialty chemicals for over 14 years and was responsible for transforming Dow and DuPont into the largest chemical company in the world. He has advised two US presidents, written a seminal book on the criticality of manufacturing to economic development and is on the boards of Saudi Aramco, WorleyParsons and IBM, and an advisor to the Public Investment Fund of Saudi Arabia.

- Ernest J. Moniz, President and CEO of the Energy Futures Initiative. Moniz served as the 13th United States Secretary of Energy from 2013 to January 2017. He is the Cecil and Ida Green Professor of Physics and Engineering Systems emeritus and Special Advisor to the MIT President. Dr. Moniz is CEO of the Nuclear Threat Initiative and of the Energy Futures Initiative and the inaugural Distinguished Fellow of the Emerson Collective.

- Marc Raibert, Founder and CEO of Boston Dynamics. Raibert leads the development of some of the world's most advanced robots. Before founding Boston Dynamics in 1992, he was a professor at MIT and Carnegie Mellon University, and is a member of the US National Academy of Engineering.

- Carlo Ratti, Professor of Urban Technologies and Planning Director at MIT’s Senseable City Lab. Ratti is an architect and engineer by training and currently teaches at MIT. He has co-authored over 500 publications and patents.

- John Rossant, Founder and Chairman at the NewCities Foundation. Rossant founded the NewCities Foundation in 2010 with an aim to shape the future of urban projects. He was previously responsible for the production of global forums, such as the e-G8 in Paris and the World Economic Forum in Davos and is also the CEO and Chief Curator of LA CoMotion, the annual conference and event on future mobility. He is a board member of the Fondation Tocqueville in Paris and Humanity in Action in New York.

- Masayoshi Son, Chairman and CEO of SoftBank Group Corp. Son founded SoftBank, a global technology company that aspires to drive the Information Revolution in 1981 and has expanded its business to cover a range of technologies, including telecommunications, AI, smart robotics, IoT and clean energy. In 2017, SoftBank announced the first major close of the SoftBank Vision Fund to support the transformational companies at the forefront of the Information Revolution.

- Rob Speyer, President and CEO of Tishman Speyer. Speyer has grown Tishman Speyer into a leading global real estate company with $50 billion in assets. He is the Chairman of the Advisory Board of the Mayor’s Fund to Advance New York City, and in 2013 became the youngest-ever Chairman of the Real Estate Board of New York. He currently serves on the advisory council of EXOR as well as several charitable ventures.

- Peter R. Voser, Chairman of ABB Group. Before taking up his position as Chairman of the Board of technology giant ABB, Voser served as CEO at Shell, amongst other positions with the company. He currently serves as a board member at Roche, IBM and Temasek, as well as several non-profit organizations.

Additional members of the Advisory Board will be announced as they are appointed.

NEOM’s emphasis on sustainability and innovation makes it a core pillar of Vision 2030, Saudi Arabia’s ambitious blueprint to diversify its economy and enable wider societal transformation. NEOM forms part of the Saudi Giga-Projects Investment Pool for the Public Investment Fund (PIF) of Saudi Arabia. The giga-projects are integrated economic ecosystems that will support the economic transformation of the Kingdom and act as a catalyst for investment across various sectors, and in addition to NEOM include The Red Sea Project, and Qiddiya.



China to Boost Exports, Imports in 2026, Seeking ‘Sustainable’ Trade, Official Says

A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)
A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)
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China to Boost Exports, Imports in 2026, Seeking ‘Sustainable’ Trade, Official Says

A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)
A woman walks in Ritan park one day after a heavy snowfall in Beijing on December 13, 2025. (AFP)

China plans to expand exports and imports next year as part of efforts to promote "sustainable" trade, a senior economic official said on Saturday, state broadcaster CCTV reported.

The trillion-dollar trade surplus posted by the world's second-largest economy is stirring tensions with Beijing's trade partners and drawing criticism from the International Monetary Fund and other observers who say its production-focused economic growth model is unsustainable.

"We must adhere to opening up, promote win-win cooperation across multiple sectors, expand exports while also increasing imports to drive sustainable development of foreign trade," Han Wenxiu, deputy director of the Central Financial and Economic Affairs Commission, told an economic conference.

China will encourage service exports in 2026, Han said, pledging measures to boost household incomes, raise basic pensions and remove "unreasonable" restrictions in the consumption sector.

He restated the government's call to rein in deflationary price wars, dubbed "involution", where firms engage in excessive, low-return rivalry that erodes profits.

The IMF this week urged Beijing to make the "brave choice" to curb exports and boost consumer demand.

"China is simply too big to generate much (more) growth from exports, and continuing to depend on export-led growth risks furthering global trade tensions," IMF Managing Director Kristalina Georgieva told a press conference on Wednesday.

Economists warn that the entrenched imbalance between production and consumption in the Chinese economy threatens its long-term growth for the sake of maintaining a high short-term pace.

Chinese leaders promised on Thursday to keep a "proactive" fiscal policy next year to spur both consumption and investment, with analysts expecting Beijing to target growth of around 5%.


UK Economy Unexpectedly Shrinks in October

People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)
People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)
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UK Economy Unexpectedly Shrinks in October

People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)
People exit the London Underground station at Bank, outside the Bank of England (L) and the Royal Exchange building (back R) in central London on December 12, 2025. (Photo by HENRY NICHOLLS / AFP)

Britain's economy unexpectedly contracted again in October, official data showed Friday, dealing a blow to the Labour government's hopes of reviving economic growth.

Gross domestic product fell 0.1 percent in October following a contraction of 0.1 percent in September, the Office for National Statistics said in a statement.

Analysts had forecast growth of 0.1 percent.

Manufacturing rebounded in the month as carmaker Jaguar Land Rover resumed operations after a cyberattack that had weighed on the UK economy in September, AFP reported.

But analysts noted that businesses and consumers reined in spending ahead of Britain's highly-expected annual budget.

"Business and consumers were braced for tax hikes and the endless speculation and leaks have once again put a brake on the UK economy," said Lindsay James, investment manager at Quilter.

Prime Minister Keir Starmer's Labour party raised taxes in last month's budget to slash state debt and fund public services.

At the same time, Britain's economic growth was downgraded from next year until the end of 2029, according to data released alongside the budget.

Finance Minister Rachel Reeves raised taxes on businesses in her inaugural budget last year -- a decision widely blamed for causing weak UK economic growth and rising unemployment.

She returned in November with fresh hikes, this time hitting workers.
Analysts said that Friday's data strengthened expectations that the Bank of England would cut interest rates next week.


Gold Hits Seven-week High on Safe-haven Demand; Silver Notches Peak

FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo
FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo
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Gold Hits Seven-week High on Safe-haven Demand; Silver Notches Peak

FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo
FILE PHOTO: A goldsmith works on a gold necklace at a workshop in Ahmedabad, India, October 8, 2025. REUTERS/Amit Dave/File Photo

Gold prices rose to a seven-week high on Friday, bolstered by a soft dollar, expectations of interest rate cuts and safe-haven demand prompted by geopolitical turbulence, while silver hit a record high.

Spot gold rose 0.7% to $4,311.73 per ounce by 0945 GMT, its highest level since October 21, and set for a 2.7% weekly gain, Reuters reported.

US gold futures gained 0.7% to $4,343.50.

The dollar hovered near a two-month low, and was on track for a third straight weekly drop, making bullion more affordable for overseas buyers.

Additionally, "the sharp rise in US weekly jobless claims as well as US-Venezuela tensions are underpinning gold and keeping haven demand strong," said Zain Vawda, analyst at MarketPulse by OANDA.

US jobless claims rose by the most in nearly 4-1/2 years last week, reversing the sharp drop seen in the previous week.

The US Federal Reserve trimmed rates by 25 basis points for the third time this year on Wednesday, but indicated caution on additional cuts.

Investors are currently pricing in two rate cuts next year, and next week's US non-farm payrolls report could provide further clues on the Fed's future policy path.

Non-yielding assets such as gold tend to benefit in low-interest-rate environment.

On the geopolitical front, the US is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week.

Meanwhile, India saw widening gold discounts this week as demand remained subdued despite the wedding season, while high spot prices also dented demand in China.

Spot silver rose 0.5% to $63.87 per ounce, after hitting a new record high of $64.32/oz, and is headed for a 9.5% weekly gain.

Prices have more than doubled this year, supported by strong industrial demand, dwindling inventories and its inclusion on the US critical minerals list.

"Silver is supported by industrial demand amid fears of shortages, a continued tight market, and the speculative frenzy, mostly from retail investors which has helped drive inflows to Silver ETFs," said Ole Hansen, head of commodity strategy at Saxo Bank.

Elsewhere, platinum was up 0.8% at $1,708.11, while palladium climbed 2.2% to $1,516.95. Both were headed for a weekly rise.