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Saudi Arabia and the world
Sunday, Dec 15, 2024

Economic Shifts in Oman, Saudi Arabia's COP16 Hosting, and Riyadh's Transformative Urban Ventures (2024-2030)

Economic Growth, Environmental Initiatives, and Technological Advancements in Middle East Highlighted by Saudi Arabia's Vision 2030 and Riyadh Metro Developments
In Oman, inflation rose by 0.8% year-on-year as consumer prices in various categories, including miscellaneous goods and food, saw increases amid a 13.9% expansion in the country's broad money supply, highlighting economic dynamics involving interest rate hikes and shifts in public cash holdings.

Transitioning to the global stage, Riyadh is set to host COP16 in December 2024, underscoring Saudi Arabia's pivotal role in efforts to combat desertification and restore 1.5 billion hectares of degraded land by 2030, with a focus on local community-driven solutions.

Meanwhile, the Riyadh Metro has launched the world's longest driverless network, aiming to ease the city's traffic congestion by 30% with 176 kilometers of new tracks and 85 stations set to be fully operational by early 2025.

Complementing the metro's technological advances, NMK Electronics unveiled its Experience Center and hosted the InterActiVe 2024 event in Riyadh, spotlighting innovative AV technologies and highlighting Saudi Arabia's growing market driven by Vision 2030 initiatives.

Adding to the city's tech landscape, Hisense has opened a flagship store in Riyadh, offering cutting-edge smart home technologies and immersive experiences, signaling the company's commitment to innovation and expansion in the region.

Finally, Riyadh Metro stations have been transformed into cultural landmarks with the unveiling of monumental artworks as part of the Riyadh Art initiative, enhancing the aesthetic and cultural significance of these transit hubs with pieces from renowned artists like Alexander Calder and Robert Indiana.
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