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Saudi Arabia, Egypt to set up joint $10 b fund for mega-city

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Saudi Arabia, Egypt to set up joint $10 b fund for mega-city

In a major bonhomie development between two major US allies in the Middle East, Saudi Arabia and Egypt have decided to set up a joint fund worth more than $ 10 billion to develop a megacity and business zone planned to be built by Riyadh on more than 1,000 square kms of land in the southern Sinai Peninsula, committed by Cairo.

Reuters quoted unnamed Saudi official saying that Egypt has committed land to a planned mega-city and business zone unveiled by Saudi Arabia last October. The territory along the Red Sea is part of a joint fund worth more than $10 billion and announced by the two countries late on Sunday during a visit to Cairo by Saudi Crown Prince Mohammed bin Salman, also known as MBS.

Read More:- Vision 2030: Saudi Crown Prince Unveils Dream City Project

Saudi Crown Prince arrived in Cairo on Sunday evening for a three-day visit and held meeting with President Abdel Fettah el-Sisi. He will travel to London and Washington after Cairo. This is his maiden foreign trip taking him to one of its closest allies in the region

Egypt, UAE and Bahrain had followed Riyadh’s suggestion for severing ties with Qatar in June last year.

Read More:- Saudi Arabia, UAE, Bahrain and Egypt snap ties with Qatar

Prince Mohammed previously announced plans for the 26,500 square km zone, known as NEOM, with its own judicial system and legislation designed to attract international investors, at an international investment conference in Riyadh. The mega-city is supposed to focus on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism.

The location of NEOM, close to Israeli territory and also Egyptian  city of Sharm al-Sheikh, known for its beaches popular among western tourists coupled with ongoing cultural transformation under Crown Prince Mohammed bin Salman indicates the future scenario. The NEOM was originally conceived to develop across Saudi Arabia, Egypt and Jordan.

Saudi Arabia plans to build seven cities and tourism projects, while Egypt will focus on developing the existing resort cities of Sharm El Sheikh and Hurghada, the Saudi official said. The public and private investment in the area was eventually expected to $500 billion mark.

Saudi Arabia, Egypt to set up joint $10 b fund for mega-city

Saudi Arabia is known for its conventional and extremist Wahabi ideology. In recent months thousands of Wahabi preachers were reportedly detained. Videos of religious preachers’ detention even during their speeches in mosques were in public domain.

The Saudi official has also disclosed that the kingdom will also work with Egypt and Jordan to attract European cruise companies to operate in the Red Sea during the winter season. Riyadh is negotiating with seven important cruise companies.

Saudi Arabia will also set up 50 resorts and four small cities as part of a separate tourism initiative announced last August and backed by the country’s Public Investment Fund (PIF).

The Red Sea Project, made up of some 50 islands, will offer a nature reserve, diving on coral reefs and heritage sites. Construction will commence in 2019 and is scheduled to complete its first phase by late 2022.

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Khamenei warns US against deceitful actions as Trump announces 25% tariff threat

Ayatollah Ali Khamenei has warned the United States against “deceitful actions” after Donald Trump announced a 25% tariff threat, as protests continue to challenge Iran’s leadership.

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Iran’s Supreme Leader Ayatollah Ali Khamenei has warned the United States to stop what he described as “deceitful actions” and reliance on “traitorous hirelings,” responding to escalating pressure from US President Donald Trump, including a proposed 25 per cent tariff on countries trading with Iran.

In a post on X, Khamenei said the Iranian nation had demonstrated its resolve in the face of external pressure and issued a warning to American politicians. He asserted that Iran remained strong, aware of its adversaries, and firmly present on the political stage.

Protests pose major challenge to Iran’s leadership

Khamenei’s remarks come amid more than two weeks of nationwide demonstrations that began over economic grievances and have since grown into one of the most serious challenges to Iran’s theocratic system since the 1979 Islamic revolution.

Rights groups have claimed that at least 646 people have been killed during the protests, which have spread across several cities. The unrest has intensified international scrutiny of Tehran’s response and further strained relations with Washington.

Trump signals economic and military options

President Trump has repeatedly warned Iran over its handling of the protests, stating that the United States was prepared to act if demonstrators were killed. He has said possible US responses range from low-risk to high-risk options, depending on the ultimate objective.

While Trump has previously criticised “regime change” as a foreign policy goal, citing past US involvement in Iraq, he has continued to apply economic pressure on Tehran. On Monday, he announced a 25 per cent tariff on countries that trade with Iran, marking a significant escalation in sanctions-linked measures.

Trump has also spoken about efforts to restore internet access in Iran after authorities imposed shutdowns during the protests.

Limited communication revealed

Despite the sharp public rhetoric, both governments have acknowledged that some level of communication has taken place. These contacts were reportedly coordinated through Trump’s envoy Steve Witkoff.

Iran and the United States have remained adversaries since the 1979 revolution that overthrew the pro-Western shah. Any major shift in Iran’s political system would have far-reaching consequences for the Middle East, making the current standoff closely watched across the region.

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Trump may visit India next year as US envoy calls New Delhi Washington’s most essential partner

The US has described India as its most essential global partner, with ambassador-designate Sergio Gor indicating a possible visit by President Donald Trump next year.

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The United States has said that no country is more essential to its global interests than India, with US ambassador-designate Sergio Gor indicating that President Donald Trump may visit India within the next year or two.

Speaking at the US Embassy in New Delhi, Gor highlighted the close personal rapport between Trump and Prime Minister Narendra Modi, describing their relationship as genuine and resilient even in times of disagreement.

India-US ties anchored at the highest level

Gor said the partnership between India and the United States is rooted not only in shared strategic interests but also in strong leadership-level engagement.

He noted that while differences may arise between the two countries, they are resolved through dialogue, reflecting the maturity of the relationship. According to him, India’s scale and global standing make bilateral cooperation both complex and crucial.

Trade talks to resume from January 12

The ambassador-designate confirmed that the next round of India-US trade negotiations will begin on Tuesday, January 12. Acknowledging the challenges involved, Gor said both sides remain committed to reaching an agreement.

Trade, he said, is a vital pillar of bilateral ties, alongside cooperation in areas such as security, counter-terrorism, energy, technology, education and health.

Trump-Modi friendship described as ‘real’

Gor reiterated that he has personally witnessed the bond between Trump and Modi during international engagements, stressing that the friendship goes beyond diplomacy.

Recalling conversations with the US President, he said Trump often speaks positively about his previous India visit and his relationship with the Indian Prime Minister.

Possible Trump visit to India

Indicating a potential presidential visit, Gor said Trump could travel to India in the next one or two years. He described his own appointment as an effort to elevate the bilateral partnership to a new level, calling the India-US relationship a meeting point of the world’s oldest and largest democracies.

India to join Pax Silica alliance

Gor also announced that India will be invited to join the US-led Pax Silica alliance as a full member next month.

The initiative aims to develop a secure, resilient and innovation-driven global silicon supply chain, reinforcing India’s role in strategic technology partnerships.

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Trump says Iran wants talks amid protests, warns US may act before meeting

Donald Trump claims Iran’s leadership wants negotiations amid mass protests, but says the US may take action before any talks are held.

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US President Donald Trump has claimed that Iran’s leadership has reached out to his administration seeking negotiations, even as large-scale anti-government protests continue across the country and Washington signals possible military action.

Speaking to reporters aboard Air Force One, Trump said Iranian leaders had contacted him after his recent warnings. “The leaders of Iran called yesterday,” he said, adding that a meeting was being planned. However, he cautioned that the United States “may have to act before a meeting.”

The remarks come amid reports of deaths during protests in several Iranian cities. Trump accused Iran’s rulers of maintaining control through force, saying there were indications that people had been killed who “aren’t supposed to be killed.”

He said the US military was closely monitoring developments and that senior officials were reviewing what he described as “very strong options.” Trump said he was receiving hourly briefings on the situation and that a decision would be made after assessing all factors.

When asked if Iran had crossed a red line, Trump declined to provide operational details, saying he would not disclose how or where the US might act. “We’re gonna make a determination,” he said.

Addressing reports of fatalities among protesters, Trump suggested that some deaths occurred due to crowd stampedes, while others involved gunfire. He did not provide specific figures or details.

Trump also issued a strong warning against any retaliation by Iran or its allied groups. He said any such response would be met with unprecedented force, stating that the US would strike “at levels that they’ve never been hit before.”

The US President said Iran should already be aware of Washington’s resolve, referring to previous American actions against high-profile militant leaders and what he described as the elimination of Iran’s nuclear threat.

Trump did not clarify whether the US had coordinated with allies on a potential response or outline a timeline for further action.

Iran has witnessed repeated waves of unrest in recent weeks, with thousands of people participating in protests against the current regime in cities across the country.

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