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After telegraphing a more pragmatic stance on spending for months, Saudi Arabia is starting to make the tough decisions. In quick succession, the kingdom has ordered sweeping reviews at its most ambitious projects spread across Neom, Jeddah, and even Riyadh.The week began with delays to the 2029 Asian Winter Games, a showpiece event central to the kingdom’s sporting ambition that was increasingly being hamstrung by the costs and logistics of building ski slopes in a desert. At the same time, officials have been considering overhauls at two other splashy projects — The Line, a pair of mirrored skyscrapers in Neom, and a cube called The Mukaab, planned to be big enough to fit 20 Empire State Buildings in the heart of Riyadh.The moves accelerate a reckoning that began in late 2023, when the government first signalled potential delays to some projects. Multiple endeavours have since been curtailed as the kingdom seeks to shift course amid weak oil prices, a tighter lending environment and subdued foreign direct investment.The latest review focuses on New Murabba, which was set to house the Mukaab building and envisioned as a sprawling new downtown in Riyadh.Plans now being considered include ditching a stadium intended for the 2034 FIFA World Cup, according to people familiar with the matter. The developer has been asked by its owner, the Public Investment Fund, to submit proposals outlining what can be realistically completed over the next few years, the people said, asking not to be identified discussing private information.Further afield at Neom, the future of The Line is also being weighed, according to some of the people. Envisioned to include a pair of mirrored towers spanning 106 miles (170 kilometres) and a World Cup stadium more than 350 meters (1,150 feet) in the air, that project is also on hold as its design is overhauled, according to some of the people.The end result is likely to be a smaller project, similar to New Murabba, and The Line will likely no longer feature a World Cup stadium, the people said.Elsewhere, the pullback has hit several developments near Jeddah, where many projects including a planned entertainment island called Qiddiya Coast are being reviewed, people familiar with the matter said. Plans for a World Cup stadium initially slated to be built there may not go ahead, they said. Qiddiya City in Riyadh is meanwhile proceeding with plans to build the Prince Mohammed bin Salman Stadium, the people added.Qiddiya and the Public Investment Fund declined to comment. New Murabba and Saudi Arabia’s Ministry of Sport did not respond to a request for comment.“We’re always looking at how to phase and prioritise our initiatives so that they align with national objectives and create long-term value,” a spokesperson for Neom said. “As a development that’s meant to span generations, Neom is advancing projects in line with strategic priorities, market readiness and sustainable economic impact.”The retrenchment reflects a recalibration by the roughly $1tn PIF and the central government as they focus resources on infrastructure tied to immovable deadlines, such as the World Expo in 2030 and FIFA World Cup in 2034. Even then, officials are beginning to question earlier assumptions, including whether the kingdom really needs to build at least eight stadiums from scratch, and the strategy seems to be shifting to refurbishing existing ones.To be sure, prior hosts also scaled back its original plans to build new stadiums. Russia did the same for the 2018 championship to cut costs and meet deadlines.That debate captures what has emerged as the new mantra for Saudi government officials. Finance Minister Mohammed al-Jadaan summed it up at Davos last week as “optimal impact at the right cost,” signalling far tighter scrutiny after years of unfettered spending.The shifts underscore Saudi Arabia’s balancing act — keeping a flow of investment to Crown Prince Mohammed bin Salman’s economic transformation plan, while dealing with lower oil revenue — and indicate more rigorous spending cuts and adjustments of priorities might be in the offing.“Some of the projects that are now being delayed or scaled back were simply too ambitious,” said Azad Zangana, head of GCC macroeconomic analysis at Oxford Economics. “Authorities appear to be choosing to be more selective.”Saudi officials haven’t publicly stated exactly which projects will stay and which may be cancelled, cut or delayed, though at least some areas of focus are becoming clearer. They will likely focus on work that can ultimately draw more public-private partnerships and foreign investment, for example, and lean more heavily into critical sectors like artificial intelligence, tourism and finance.The PIF, for its part, has been ramping up its courtship of Saudi Arabia’s prominent families and others in the private sector in a bid to help ease the burden of spending on major projects. The kingdom has also raised billions of dollars from bond sales in recent years, ranking as one of the most active sovereign issuers in emerging markets.Meanwhile, the government has accelerated its pace of reforms, opening up both real estate and capital markets to foreigners, to help lure more cash from abroad that can support everything from property developments to asset management and financial sector projects. These moves have spurred a 9% rally in the benchmark stock index so far this year, after a dismal 2025.Any projects deemed unlikely to appeal to foreign capital, or those that don’t directly translate into immediate economic benefits under the Vision 2030 plan, will likely see fewer dollars invested in coming years.“The recent decision to reprioritise some large investment projects has helped focus spending on areas where it matters most, while also mitigating the risk of economic overheating,” the International Monetary Fund said in December.Economists including Farouk Soussa at Goldman Sachs Group Inc and Jean-Michel Saliba at Bank of America Corp echoed that view, while T. Rowe Price sovereign analyst Razan Nasser, said the recent changes are a “welcome confirmation” of the messaging the Saudis have been telegraphing for some time now.The moves increase the chances of more efficient investment, and are important given many plans were developed at a time of higher oil prices, lower rates and easier global trade relationships, she said.“Pragmatism is essential.” 

His Excellency the Governor of the Qatar Central Bank, Sheikh Bandar bin Mohammed bin Saoud al-Thani took part in a high-level panel titled 'Global updates and progress in cross-border payments', held during the 2025 Middle East and Africa Innovation Summit, organised by the Saudi Central Bank (SAMA) and the Bank for International Settlements (BIS) in Riyadh.The event was held under the theme 'Resilient finance, innovative future'. The session, which addressed new challenges and opportunities posed by technological innovation in the financial sector, featured the participation of Andrew Bailey, Governor of the Bank of England and chair of the Financial Stability Board; Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, and Jameel Ahmad, Governor of the State Bank of Pakistan, along with the session moderator, Pablo Hernández de Cos, General Manager of the BIS.

Qatar won two bronze medals in fencing and wrestling at the Islamic Solidarity Games, currently being held in the Saudi capital, Riyadh, until Nov. 21.More than 3,000 athletes representing 57 countries are participating in the Games.The Qatari delegation's two medals were won by Khalid Al Yafei, who took bronze in the men's foil fencing competition, and Shaheen Mohammad, who won bronze in the 77 kg wrestling category.Qatar's medal tally now stands at seven, including three gold, two silver, and two bronze medals.In handball, the Qatari national team defeated the Maldives 44-6, finishing the first stage at the top of Group A with a perfect record. They will face Bahrain, the runner-up in Group B, in the semifinals. The other semifinal match will see Saudi Arabia, the top team in Group B, take on the UAE, the runner-up in Group A.The Qatari national team had won its previous two matches against Iran (39-23) and the UAE (41-24), and aims to retain the gold medal it won in the previous edition of the Games, held in Konya, Turkiye in 2022.In camel racing, Hazem Abdullah Al Nudailah qualified for the men's 2000-meter final after finishing second in the second heat held at the Al-Janadriyah Racecourse. The final will take place on Wednesday.In athletics, Qatari runner Abubaker Haidar qualified for the 800-meter final after finishing first in the first heat with a time of 1:50.09. Meanwhile, Qatari shot putter Ahmed Jibril finished fourth in the men's shot put with a throw of 18.51 meters.

The Qatari men’s volleyball team secured a crucial victory on Monday, defeating hosts Saudi Arabia 3–1 in an exciting encounter at the 6th Islamic Solidarity Games in Riyadh until November 21.Qatar recovered well after dropping the opening set 21–25, taking control of the match with confident attacking play and solid defense to claim the next three sets 25–16, 25–20, and 25–21 in front of a large crowd at Riyadh Boulevard.With this result, Qatar moved a step closer to advancing to the medal rounds. They will face Bahrain Wednesday in a decisive fixture that could confirm their qualification to the knockout stages.Tamer qualifies for 100m Freestyle FinalQatar’s swimmer Ali Tamer qualified for the final of the men’s 100m freestyle, to be held today at the Prince Faisal bin Fahd Olympic Complex. Tamer clocked 50.44 seconds in the heats and 50.53 seconds in the semi-finals.Meanwhile, teammate Mohammed Aziz Ismail narrowly missed out on the 200m butterfly final after finishing fourth in his heat with a time of 2:12.26. Hamza al-Shaalan withdrew from the 200m breaststroke final after sustaining an injury during warm-up. He had earlier qualified with a time of 2:23.35 in the heats.Today, Ismail will compete in the 100m butterfly, while al-Shaalan and Mohammed Mahmoud will contest the 50m breaststroke.Elsewhere, Qatar’s table tennis players begin their individual campaigns today, while Mona Al-Kharafi will represent the nation in the women’s under-50kg karate category.Turkey tops medal tableTurkey continues to lead the medal standings at the Games with 58 medals — 37 gold, 12 silver, and 9 bronze. Egypt sits second with 18 medals (6 gold, 4 silver, 8 bronze), followed by Nigeria in third with 10 medals (5 gold, 2 silver, 3 bronze). Indonesia ranks fourth with 18 medals (4 gold, 11 silver, 3 bronze), and Uzbekistan is fifth with 21 medals (4 gold, 10 silver, 7 bronze).

Qatar’s swimmers continued their strong form at the Islamic Solidarity Games Riyadh 2025, with Mohammed Mahmoud narrowly missing a podium finish in the men’s 200m individual medley, placing fourth in 2:05.69, just 0.62 seconds behind third. Mahmoud also finished seventh in the 100m breaststroke while teammate Ali Tamer clocked 22.72s to claim fourth in the 50m freestyle, only 0.15s off the bronze.The Al Annabi swimmers remain in action today, with Tamer contesting the 100m freestyle, Hamza Shaalan in the 200m breaststroke and Aziz al-Jilani in the 200m butterfly. Elsewhere, Qatar’s men’s table tennis team exited in the quarter-finals after a loss to Kazakhstan, while judoka Haya al-Kuwari bowed out in the repechage round of the under-70kg category.The men’s volleyball team faces hosts Saudi Arabia today before wrapping up their group stage against Bahrain on Wednesday. More than 3,000 athletes from 57 nations are competing across 23 sports in Riyadh. Qatar has sent 82 athletes participating in 16 disciplines.

HE Director-General of Qatar News Agency (QNA) Ahmed bin Saeed al-Rumaihi met Monday with Acting President of the Saudi Press Agency (SPA) Ali bin Abdullah Alzaid at the SPA headquarters in Riyadh, Saudi Arabia.During the meeting, they discussed ways to enhance media co-operation and the exchange of expertise and experiences between the two agencies with the aim of establishing a partnership that serves the shared media objectives and aspirations of both sides.As part of the visit, the director-general toured the different departments of the Saudi Press Agency. He reviewed the workflow and mechanisms in the various editorial sections and was briefed on the latest systems and technologies used in digital publishing and to deliver high-quality news services.His Excellency also visited the SPA News Training Academy, where he was briefed on the training programmes offered to qualify media professionals.In a statement on the occasion, the QNA director-general said the visit reflects the commitment to strengthening bilateral co-operation between the two agencies, with the aim of achieving a strategic partnership that serves the media vision of both countries.His Excellency underscored the importance of strengthening and solidifying media co-operation between the news agencies of the two countries, elevating it to keep pace with the rapid development of bilateral relations in various fields. He also highlighted the importance of this co-operation in serving the shared journey of Gulf media.