Saudi crown prince launches NEOM, a private zone spanning 3 countries

Agencies
October 24, 2017

Saudi Crown Prince Mohammed bin Salman announced the launch of NEOM on Tuesday, a project that aspires to be the “safest, most efficient, most future oriented, and best place to live and work” in the kingdom.

​​NEOM’s land mass will extend across the Egyptian and Jordanian borders, rendering NEOM the first private zone to span three countries. The project will be backed by more than $500 billion over the coming years by Saudi Arabia.

Wind and solar power will allow NEOM to be powered solely by regenerative energy, while 70 percent of the world’s population will be able to reach it within eight hours.

Described as a "destination for the future," here's some information at a glance:

• NEOM aspires to be the safest, most efficient, most future oriented, and best place to live and work

• NEOM is developed independent of the Kingdom’s existing governmental framework with investors, businesses, and innovators consulted at every stage of development

• NEOM's unique location connects Asia, Europe, and Africa, will include the world’s most significant and promising economic sectors

• NEOM land expands over 26,500 km2; its location will facilitate NEOM's rapid emergence as a global hub that has the potential to bring together the best of Arabia, Asia, Africa, Europe and America

• NEOM will be backed by more than $500 billion over the coming years by the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, local as well as international investors

A statement from NEOM reads:

NEOM is born from the ambition of Saudi Arabia’s Vision 2030 to see the country develop into a pioneering and thriving model of excellence in various and important areas of life. NEOM aims to thrive the transformation of the Kingdom into a leading global hub through the introduction of value chains of industry and technology.

“NEOM will focus on nine specialized investment sectors and living conditions that will drive the future of human civilization, energy and water, mobility, biotech, food, technological & digital sciences, advanced manufacturing, media, and entertainment with livability as its foundation. The focus on these sectors will stimulate economic growth and diversification by nurturing international innovation and manufacturing, to drive local industry, job creation, and GDP growth in the Kingdom. NEOM will attract private as well as public investments and partnerships. NEOM will be backed by more than $500 billion over the coming years by the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, local as well as international investors”, said Prince Mohammed bin Salman, Chairman of the Public Investment Fund (PIF).

NEOM commands a unique location to bring together the best of Arabia, Asia, Africa, Europe and America. NEOM resides in the Northwestern region of Saudi Arabia, and spans over 26,500 km2. Overlooking the waterfront of the Red Sea to the South and the West, and the Gulf of Aqaba, NEOM enjoys an uninterrupted coastline stretching over 468 km, with a dramatic mountain backdrop rising to 2,500 m to the East. A constant breeze leads to mild temperatures. The wind and sun will allow NEOM to be powered solely by regenerative energy.

NEOM is situated on one of the world’s most prominent economic arteries, through which nearly a tenth of the world’s trade flows. Its strategic location will also facilitate the zone’s rapid emergence as a global hub that connects Asia, Europe and Africa, enabling 70% of the world's population to reach it in under eight hours, which brings the potential to combine the best of major global regions in terms of knowledge,technology, research, teaching, learning, living and working.

The site will also become the main entrance to the King Salman Bridge, linking Asia and Africa, which will add to the zone’s economic significance. NEOM’s land mass will extend across the Egyptian and Jordanian borders, rendering NEOM the first private zone to span three countries.

Investments and financing will play a vital role in NEOM, set to be spearheaded by the Kingdom’s economy and supported by PIF – a major global fund with access to a worldwide network of investors and major companies -- set to be brought onboard to drive the success of NEOM.

With the ambition of becoming one of the world’s future economic and scientific capitals, in addition to being the future commerce capital of Saudi Arabia, NEOM is set to attract new foreign direct investment that will contribute to PIF’s long-term growth strategy aimed at strengthening the Saudi Arabian economy.

NEOM is developed to be independent of the Kingdom’s existing governmental framework, excluding sovereignty. NEOM will adopt a regulatory framework that fosters technological as well as societal innovation and entrepreneurship in accordance with international best practices. Investors, businesses, and innovators will be consulted at every step of the development in how best to create the economic framework, design the urban plans, and attract top quality talent that will drive the growth of this zone and its resident population.

“NEOM will be constructed from the ground-up, on greenfield sites, allowing it a unique opportunity to be distinguished from all other places that have been developed and constructed over hundreds of years and we will use this opportunity to build a new way of life with excellent economic prospects. Future technologies form the cornerstone for NEOM’s development: Disruptive solutions for transportation from automated driving to passenger drones, new ways of growing and processing food, healthcare centered around the patient for their holistic well-being, wireless high speed internet as a free good called “digital air”, free world-class continuous online education, full scale e-governance putting city services at your fingertips, building codes that make net-zero carbon houses the standard, a city layout that encourages walking and bicycling and all solely powered by renewable energy just to name a few. All of this will allow for a new way of life to emerge that takes into account the ambitions and outlooks of humankind paired with best future technologies and outstanding economic prospects”, Prince Mohammed bin Salman added.

NEOM will achieve its ambitious goals of becoming among the top secure areas in the world – if not the most– by adopting the future technologies in the fields of security and safety. This will raise the standards of public life activities and ensure the safety and protection of residents, visitors, and investors.

All services and processes in NEOM will be 100% fully automated, with the goal of becoming the most efficient destination in the world, and in turn be implemented on all activities such as legal, government, and investment procedures among others. Additionally, NEOM will be subject to the highest sustainability standards, and will provide all transactions, procedures, and claims through paperless and electronic means.

A new concept for the workforce will be implemented, based on attracting high-caliber human resources with unique competencies for full-time innovation, decision making and business leadership. Repetitive and arduous tasks will be fully automated and handled by robots, which may exceed the population, likely making the NEOM's GDP per capita the highest in the world. All these elements will put NEOM at the world’s forefront in terms of efficiency which will make it the best destination in the world to live in.

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News Network
January 1,2020

Kolkata, Jan 1: US-based Bangladeshi author and playwright Sharbari Zohra Ahmed feels that the people of the country of her origin are more alike than different from Indians as they were originally Hindus.

But Bangladeshis now want to forget their Hindu roots, said the author, who was born in Dhaka and moved to the United States when she was just three weeks old.

Ahmed, who is the co-writer of the Season 1 of 'Quantico', a popular American television drama thriller series starring Priyanka Chopra, rues that her identity as a Bengali is getting lost in Bangladesh due to the influence of right-wing religious groups.

"How can Bangladesh deny its Hindu heritage? We were originally Hindus. Islam came later," Ahmed said while speaking to PTI here recently.

"The British exploited us, stole from us and murdered us," she said about undivided India, adding that the colonialists destroyed the thriving Muslin industry in Dhaka.

Ahmed said the question of her belief and identity in Bangladesh, where the state religion is Islam, has prompted her to write her debut novel 'Dust Under Her Feet'.

The British exploitation of India and the country's partition based on religion has also featured in her novel in a big way.

Ahmed calls Winston Churchill, the British prime minister during World War II, a "racist".

"He took the rice from Bengal to feed his soldiers and didn't care when he was told about that.

"During my research, I learnt that two million Bengalis died in the artificial famine that was created by him. When people praise Churchill, it is like praising Hitler to the Jews. He was horrible," she said.

The author said her novel is an effort to tell the readers what actually happened.

"Great Britain owes us three trillion dollars. You have to put in inflation. Yet, they (the British) still have a colonial mentality and white colonisation is on the rise again," Ahmed, who was in the city to promote her novel, said.

The novel is based in Kolkata, then Calcutta, during World War II when American soldiers were coming to the city in large numbers.

The irony was that while these American soldiers were nice to the locals, they used to segregate the so-called "black" soldiers, the novelist said.

"Calcutta was a cosmopolitan and the rest of the world needs to know how the city's people were exploited, its treasures looted, people divided and hatred instilled in them," she said.

"Kolkata was my choice of place for my debut novel since my mother was born here. She witnessed the 'Direct Action Day' when she was a kid and was traumatised. She saw how a Hindu was killed by Muslims near her home in Park Circus area (in the city)," Ahmed said.

Direct Action Day, also known as the Great Calcutta Killings, was a massive communal riot in the city on August 16, 1946 that continued for the next few days.

Thousands of people were killed in the violence that ultimately paved the way for the partition of India.

'Dust Under Her Feet' is set in the Calcutta of the 1940s and Ahmed in her novel examines the inequities wrought by racism and colonialism.

The story is of young and lovely Yasmine Khan, a doyenne of the nightclub scene in Calcutta.

When the US sets up a large army base in the city to fight the Japanese in Burma, Yasmine spots an opportunity.

The nightclub is where Yasmine builds a family of singers, dancers, waifs and strays.

Every night, the smoke-filled club swarms with soldiers eager to watch her girls dance and sing.

Yasmine meets American soldier Lt Edward Lafaver in the club and for all her cynicism, finds herself falling helplessly for a married man who she is sure will never choose her over his wife.

Outside, the city lives in constant fear of Japanese bombardment at night. An attack and a betrayal test Yasmine's strength and sense of control and her relationship with Edward.

Ahmed teaches creative writing in the MFA program in Manhattanville College and is artist-in-residence in Sacred Heart University's graduate film and television programme.

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abdullah
 - 
Wednesday, 1 Jan 2020

Is she trying to take over Shoorpanakhi Taslim Nasreen? 

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Agencies
May 26,2020

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

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News Network
June 30,2020

Beijing, June 30: China said on Tuesday it was concerned about India’s decision to ban Chinese mobile apps such as Bytedance’s TikTok and Tencent’s WeChat and was making checks to verify the situation.

Chinese foreign ministry spokesman Zhao Lijian told reporters during a daily briefing that (the Prime Minister Narendra Modi-led government of) India has a responsibility to uphold the rights of Chinese businesses.

India on Monday banned 59, mostly Chinese, mobile apps in its strongest move yet targeting China in the online space since a border crisis erupted between the two countries this month.

The apps are “prejudicial to the sovereignty and integrity of India, the defence of India, the security of state and public order", the ministry of information technology said in a statement, which came two weeks after 20 Indian Army personnel were killed in a violent clash on the India-China border in Ladakh.

The companies have been invited to offer clarifications before a government panel, which will decide whether the ban can be removed or will stay.

The move also came ahead of military and diplomatic talks between India and China scheduled this week.

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