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Luigi Nicholas Mangione, the suspect in the fatal shooting of a healthcare executive in New York City, apparently was living a charmed life: the grandson of a wealthy real estate developer, valedictorian of his elite Baltimore prep school and with degrees from one of the nation's top private universities. Friends at an exclusive co-living space at the edge of touristy Waikiki in Hawaii where the 26-year-old Mangione once lived widely considered him a “great guy,” and pictures on his social media accounts show a fit, smiling, handsome young man on beaches and at parties. Now, investigators in New York and Pennsylvania are working to piece together why Mangione may have diverged from this path to make the violent and radical decision to gun down UnitedHealthcare CEO Brian Thompson in a brazen attack on a Manhattan street. The killing sparked widespread discussions about corporate greed, unfairness in the medical insurance industry and even inspired folk-hero sentiment toward his killer. But Pennsylvania Gov. Josh Shapiro sharply refuted that perception after Mangione's arrest on Monday when a customer at a McDonald's restaurant in Pennsylvania spotted Mangione eating and noticed he resembled the shooting suspect in security-camera photos released by New York police. “In some dark corners, this killer is being hailed as a hero. Hear me on this, he is no hero,” Shapiro said. “The real hero in this story is the person who called 911 at McDonald’s this morning.” Mangione comes from a prominent Maryland family. His grandfather, Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. Reporters and photographers gathered outside the entrance. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. Nick Mangione had 37 grandchildren, including Luigi, according to the grandfather's obituary. Luigi Mangione’s grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes, including Catholic organizations, colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione, a spokesman for the lawmaker’s office confirmed. “Our family is shocked and devastated by Luigi’s arrest,” Mangione’s family said in a statement posted on social media by Nino Mangione. “We offer our prayers to the family of Brian Thompson and we ask people to pray for all involved.” Mangione, who was valedictorian of his elite Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts suggest he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. The children of some of the city’s wealthiest and most prominent residents, including Orioles legend Cal Ripken Jr., have attended the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things.” Mangione took a software programming internship after high school at Maryland-based video game studio Firaxis, where he fixed bugs on the hit strategy game Civilization 6, according to a LinkedIn profile. Firaxis' parent company, Take-Two Interactive, said it would not comment on former employees. He more recently worked at the car-buying website TrueCar, but has not worked there since 2023, the head of the Santa Monica, California-based company confirmed to the AP. From January to June 2022, Mangione lived at Surfbreak, a “co-living” space at the edge of touristy Waikiki in Honolulu. Like other residents of the shared penthouse catering to remote workers, Mangione underwent a background check, said Josiah Ryan, a spokesperson for owner and founder R.J. Martin. “Luigi was just widely considered to be a great guy. There were no complaints,” Ryan said. “There was no sign that might point to these alleged crimes they’re saying he committed.” At Surfbreak, Martin learned Mangione had severe back pain from childhood that interfered with many aspects of his life, including surfing, Ryan said. “He went surfing with R.J. once but it didn’t work out because of his back,” Ryan said, but noted that Mangione and Martin often went together to a rock-climbing gym. Mangione left Surfbreak to get surgery on the mainland, Ryan said, then later returned to Honolulu and rented an apartment. An image posted to a social media account linked to Mangione showed what appeared to be an X-ray of a metal rod and multiple screws inserted into someone's lower spine. Martin stopped hearing from Mangione six months to a year ago. An X account linked to Mangione includes recent posts about the negative impact of smartphones on children; healthy eating and exercise habits; psychological theories; and a quote from Indian philosopher Jiddu Krishnamurti about the dangers of becoming “well-adjusted to a profoundly sick society.” Mangione likely was motivated by his anger at what he called “parasitic” health insurance companies and a disdain for corporate greed, according to a law enforcement bulletin obtained by AP. He wrote that the U.S. has the most expensive healthcare system in the world and that the profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin, based on a review of the suspect’s handwritten notes and social media posts. He appeared to view the targeted killing of the UnitedHealthcare CEO as a symbolic takedown, asserting in his note that he is the “first to face it with such brutal honesty,” the bulletin said. Mangione called “Unabomber” Ted Kaczynski a “political revolutionary” and may have found inspiration from the man who carried out a series of bombings while railing against modern society and technology, the document said. Associated Press reporters Lea Skene in Baltimore; Jennifer Sinco Kelleher in Honolulu; Maryclaire Dale in Philadelphia; John Seewer in Toledo, Ohio; and Michael Kunzelman in Washington, D.C., contributed to this report.
How co-writing a book threatened the Carters’ marriage
Ohio State, Michigan players involved in postgame scuffleAuthors at Salisbury forum critique Trump’s election and its implications
HOUSTON, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Talen Energy Corporation ("Talen” or the "Company”) (NASDAQ: TLN ) announced today that the Company has upsized its previously announced incremental Term Loan B credit facility from $600 million to $850 million (the "Upsize”). As previously announced, the Company has executed an agreement to repurchase at least $600 million in aggregate purchase price of shares of its outstanding common stock (the "Repurchase”) from affiliates of Rubric Capital Management LP (collectively, "Rubric”). The additional proceeds from the Upsize will be used to repurchase additional shares from Rubric in the Repurchase on the same terms as the initial sizing. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Talen Talen Energy (NASDAQ: TLN ) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/ . Investor Relations: Ellen Liu Senior Director, Investor Relations [email protected] Media: Taryne Williams Director, Corporate Communications [email protected] Forward-Looking Statements This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as "anticipate,” "believe,” "continue,” "could,” "estimate,” "expect,” "forecasts,” "goal,” "intend,” "may,” "plan,” "potential,” "predict,” "project,” "seek,” "should,” "will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things, capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.
Ohio State, Michigan players involved in postgame scuffle
As she celebrates The Pinkprint 's 10th anniversary, Nicki Minaj reveals plans for a new album and tour. Fresh off her Pink Friday 2 tour, Queen Barb made the revelation while answering a fan’s question on social media. The fan asked, “Are we getting another tour for the next album, Mother?” Minaj replied, “Yes, our next official album. Of course.” The forthcoming album follows the artist accomplishing several milestones in 2024, including the highest-grossing rap tour by a female artist and the biggest sales week by a female rapper in the mid-2020s. Nicki’s reveal would send fans into a frenzy. “Omfgggg! Nicki I love you so much! I can’t wait,” tweeted on fan, while another wrote, “I’m there just let me know when! And come back to St. Louis please & thank you.” Minaj's fans around the world immediately requested her presence. Referring to the entertainer as “Mother,” one social media user commented, “Mama pls are you going to tour in Africa this time around? Nigeria to be precise, we love you and want you to give us a concert in Nigeria.” Read more: Nicki Minaj Celebrates 10 Years Of "Pinkprint" With Long Lost Juice WRLD Collab "Arctic Tundra" View this post on Instagram A post shared by Genius (@genius) The reissued Pinkprint features the original album’s celebrated tracks, including “Pills n Potions,” “Anaconda,” “Only,” “Bed of Lies,” “Truffle Butter,” and “The Night Is Still Young.” However, the spotlight falls on the newly added songs, which enrich the album's legacy. Among these are “Turn Ya Cap Back,” a collaboration with Swae Lee, and the dancehall-infused “It’s Okay” featuring David Guetta . The standout addition is Arctic Tundra, a posthumous feature from the late Juice WRLD . This milestone release comes during a remarkable year for Minaj, who recently set records as the highest-grossing female rapper on tour and celebrated her hit single "Starships," achieving Diamond certification. With this reimagined edition of The Pinkprint , Nicki Minaj not only honors a pivotal chapter in her career but also reaffirms her place as a trailblazer in hip-hop.
Telangana ACB nabs deputy tehsildar for demanding Rs 6k bribeGeorgetown 100, Albany (NY) 68
NoneMIAMI GARDENS, Fla. — In a season of lows, the Patriots’ offensive line might have hit rock bottom in Sunday’s 34-15 loss to the Dolphins. The unit was charged with seven penalties and let up 16 total pressures to the Dolphins, per PFF’s in-game charting. Left tackle Vederian Lowe was penalized four times with three false starts and one holding penalty and allowed a strip sack, and he wasn’t the offensive tackle who wound up getting benched. That was right tackle Demontrey Jacobs, who was flagged once for a false start and once for a hold while also allowing a sack and seven pressures. “He was having a tough game,” head coach Jerod Mayo said of Jacobs. “Whether it was penalties or blocking the edge, he was having a tough game. We’ve got to protect the quarterback. As an offensive lineman, that’s what we do. We protect quarterbacks and we have to open up holes for the backs.” In all, Patriots quarterback Drake Maye was sacked four times. Guard Michael Jordan also allowed a sack. Maye didn’t have his best game of the season, but line play made the offense inoperable at times. They strung together three straight three-and-outs in the first half. Pressure also caused both of Maye’s turnovers. “Just a lack of technique,” Jacobs said of his issues. “Just got to be better in those moments really. I wouldn’t say it was nothing too extraordinary, just have to be better.” Jacobs was claimed off waivers from the Broncos in late August. Beginning the season as a deep reserve on the roster, he’s gone on to start seven games at right and left tackle. He was replaced by Sidy Sow late in the game. On top of strip-sack and four penalties, PFF charted Lowe with three hurries. When healthy, he’s been the Patriots’ top left tackle dating back to training camp. “I need to do better with cadence,” Lowe said of his false starts. “I’m trying to time up the snap and get a jump to get in the best position to be able to block these edge rushers. And I just need to be better with my operation. Those are things that I can control. Pre-snap penalties are something that you could control, it’s something nobody else did. So I know I need to be better with that.” Lowe wouldn’t blame his shoulder injury and trying to get an extra step on defenders or the crowd noise for his false starts. The starting left tackle appeared to disagree with his holding penalty. He said that it’s a trap technique he’s coached to do and one he’s performed throughout the season, but this is the first time he’s been flagged for it. “I don’t know what he saw,” Lowe said. “I’ll just go back and watch the film and try to see what he saw.” The Patriots are expected to get rookie tackle Caedan Wallace back off of injured reserve at some point this season, and he could potentially replace Jacobs. They could also slide Mike Onwenu back over from guard to right tackle. They have more depth at guard with Cole Strange returning to practice off of the PUP list and Sow and Layden Robinson as options in reserve roles. Tackles Caleb Jones and Jalen McKenzie and guard Liam Fornadel are on the practice squad. Sow, Onwenu and center Ben Brown appeared to have steady performances in Sunday’s loss.
BUFFALO, NY. (WKBW) — With the bye week winding down for the Buffalo Bills let's recap the last 11 weeks and crown some midseason MVPs. Offense What if I didn't say Josh Allen? It'd be crazy but don't worry Bills Mafia, Allen is 1000% the offensive MVP so far this season and not just because of the insane game-sealing touchdown run he had against Kansas City last week. Allen's 2024 stats so far - 2,543 passing yards, 18 touchdowns, 5 interceptions - 316 rushing yards, 5 touchdowns No one can single-handedly change the game like 17 can. As the front-runner for the NFL's MVP award, it'd be crazy to leave him off the team list. Defense It was difficult to pick just one person for this one. Taron Johnson, Christian Benford, and Greg Rousseau have all stood out to me with big-time plays and performances throughout the season, but the guy I'm going with for MVP is Terrel Bernard. As evident from the game last week when Bernard is on the field he takes the Bills' defense and raises it a notch. You can make a similar argument for the players I listed above but TB's command of the defense and awareness to always be in the right place at the right time is so valuable and it's proven time and time again. Special Teams Football is three phases so of course I'm going to show some love to the special teams unit. My MVP is Cam Lewis who has built his reputation and career as a Bill off of top-notch special teams play. From downing punts to making immediate tackles off of kickoffs and punts, Lewis is truly the Swiss army knife of luxury for Matthew Smiley and this unit. My honorable mention is punter Sam Martin because despite the fact no one likes seeing the punt unit come onto the field I think Martin has been consistent and effective when needed. For that reason, I'm also giving a nod to Brandon Codrington, a rookie who has yet to run back a kick for a touchdown but has shown flashes that he may not be too far away from making that happen.
FOXBOROUGH, Mass. (AP) — As spontaneous celebrations rippled throughout the Los Angeles Chargers' locker room after their resounding 40-7 win over the New England Patriots, coach Jim Harbaugh grabbed general manager Joe Hortiz and wrapped him up in a bear hug. “Love you!” Harbaugh said. “Love you!” Hortiz responded. “Great job! Let's keep it going,” Harbaugh replied, finally loosening his grasp. The Chargers (10-6) are back in the playoffs. But the message is clear: They have their eyes on achieving much more. Justin Herbert threw three touchdown passes and Los Angeles locked up its second playoff appearance in three seasons with Saturday's victory. “We had a good opportunity tonight and we went out and took it," Herbert said. “We had a good plan. All week we knew how big of a game this was for us. Guys were dialed in, focused and we executed today.” It also secured the fourth postseason appearance in Harbaugh’s five seasons as an NFL coach, adding to the three he made during his stint with the San Francisco 49ers. “You talk to them and there's more to do,” Harbaugh said. “There's no coach who could have it better than to be coaching these players. Nobody. Maybe the only person would be future us, could have it better than us.” Herbert finished 26 of 38 for 281 yards to become the third player in NFL history with at least 3,000 passing yards and 20 touchdown passes in each of his first five seasons. He joins Pro Football Hall of Famer Peyton Manning and Russell Wilson. Ladd McConkey had eight catches for 94 yards and pulled in TD throws of 6 and 40 yards. With a 10-yard reception in the second quarter, he passed 1,000 yards receiving for the season, making him the third Chargers rookie receiver to reach that milestone. JK Dobbins rushed 19 times for 76 yards and a TD. The Patriots (3-13) have lost six straight games, their second such losing streak of the season. They are now 2-14 the last two seasons at home. “We just didn’t play well enough in any phase of the game,” coach Jerod Mayo said. “No complementary football, and that’s what you get.” Asked if he thinks he is coaching for his job, Mayo said it comes with the territory. “I’m always under pressure and it’s been that way for a very long time, not just when I became the head coach of the Patriots," he said. New England quarterback Drake Maye finished 12 of 22 for 117 yards and a touchdown. He became the first rookie quarterback in franchise history with a TD pass in eight straight games. But he was sacked four times, and a second-quarter fumble marked his eighth straight game with at least one turnover. Los Angeles outgained New England 428-181 for the game. Maye briefly left the game to be evaluated for a head injury following a blow to his helmet in the first quarter. He was scrambling near the sideline on third down of the Patriots’ first possession when he was hit by Chargers cornerback Cam Hart, jarring the ball loose as Maye spun out of bounds. No flag was thrown on the play and Maye stayed down on the turf for several seconds before eventually getting up and jogging off the field. He initially sat on the bench before going to the medical tent for evaluation. He was replaced by backup Jacoby Brissett in the next series, which ended in a punt. But after further evaluation in the locker room and a Cameron Dicker 27-yard field goal put the Chargers in front 10-0, Maye returned to the game for the Patriots’ third series, at the 10:15 mark of the second quarter. Maye scrambled for 9 yards on his first play back, ending with him being hit by linebacker Junior Colson as he slid to the ground. Colson was flagged for unnecessary roughness. Five plays later, Maye mistimed a toss to Demario Douglas, causing a fumble that was recovered by Derwin James. The Chargers took over on the New England 24 and nine plays later, Herbert connected with McConkey for a 6-yard touchdown pass to put Los Angeles in front 17-0. Chargers: WR Joshua Palmer left the game in the third quarter with a heel injury. DB Elijah Molden limped off the field after a collision in the third quarter. He returned but was later driven off the field on a golf cart because of a shin injury. Patriots: In addition to Maye, CB Christian Gonzalez left the game in the second quarter to be evaluated for a head injury and was later ruled out with a concussion. McConkey, a second-round draft selection, also set a Chargers rookie record for catches, surpassing Keenan Allen, who had 71 in 2013. Chargers: Visit Las Vegas in their regular-season finale. Patriots: Host Buffalo next Sunday in their season finale. AP NFL: https://apnews.com/hub/nflMarket Drama: Stocks Hold Steady! Inflation Data Looms LargeBuxar: One Raghunath Chaudhary (65) died after he was hit by an unidentified vehicle near Maharaja Kothi on the Ara-Buxar four-lane road under New Bhojpur station of the district on Tuesday. Raghunath, son of late Nagina Chaudhary, was a native of Barka Rajpur village under Tilak Rai’s Hata police station of the district. He was a close relative of Brahmapur RJD MLA Shambhunath Yadav. Naya Bhojpur SHO Manish Kumar said the body was sent to Buxar for postmortem. He said no injury marks were found on the body of the deceased, nor was there any damage to his motorcycle. He added that the cause of death would be ascertained after arrival of the postmortem report. We also published the following articles recently 65-year-old man dies in road accident in Buxar A 65-year-old man, Raghunath Chaudhary, died mysteriously on Tuesday near Maharaja Kothi in Buxar, Bihar. He was found near his undamaged motorcycle on the Ara-Buxar road. Police reported no visible injuries on Chaudhary, a relative of RJD MLA Shambhunath Yadav. Authorities await the postmortem report to determine the cause of death, leaving a puzzling incident under investigation. Railway court to be established at Buxar station A railway court is soon to be established at Buxar station, bringing relief to passengers and railway officials. District Judge Harshit Singh has requested infrastructure details from railway authorities within a week. Currently, passengers caught without tickets face arduous journeys to Ara and Sasaram courts. Two die as tractor overturns in Buxar Tragedy struck in Buxar district, Bihar, on Thursday when a tractor overturned, claiming the lives of two men. The victims, Upendra Yadav (30) and Pintu Ram (25), both residents of Jawahi Deyar village, were traveling from Brahmpur when the accident occurred. Police have sent the bodies for postmortem and are investigating the circumstances surrounding the fatal incident. 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The cost of Neom has been estimated to be as high as $1.5 trillion. This year, however, has seen a sharp change in direction in terms of spending for the kingdom. "Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns," one financier told CNBC. 24/7 San Diego news stream: Watch NBC 7 free wherever you are In Saudi Arabia's northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. A pair of tracks cuts through the site like deep gashes through the sand, comprising the spine of what planners say will be a high-speed rail system. The skeletal infrastructure forms the foundations of The Line, a multi-billion dollar high-tech city that its architects say will eventually house 9 million people between two 106-mile long glass skyscrapers more than 1,600 feet high. The project, whose estimated cost is in the hundreds of billions, is just one of the hyper-futuristic venues planned in Neom, the brainchild of Saudi Crown Prince Mohammed bin Salman and a region that the kingdom hopes will bring millions of new residents to Saudi Arabia and revolutionize living and technology in the country. It's a core pillar of Vision 2030, which aims to diversify the Saudi economy away from oil revenues and create new jobs and industries for its burgeoning young population. The cost of Neom has been estimated to be as high as $1.5 trillion . In the years since it was announced, Saudi Arabia's Public Investment Fund, the mammoth sovereign wealth fund now overseeing $925 billion in assets, has poured billions into overseas investments, with ever-increasing waves of foreign investors flying to the kingdom to raise cash. This year, however, has seen a sharp change in direction in terms of spending, with a stated emphasis on keeping investments at home along with reports of cutting costs on megaprojects like those in Neom. The changes come as the Saudi deficit grows and the outlook for oil demand, along with global oil prices, sees sustained lows. That begs the question: does Saudi Arabia have enough money to meet its lofty goals? Or will it have to be more flexible to make its spending trajectory sustainable? Money Report European stocks set to start the week higher as global markets rally China's central bank keeps medium-term loan rate unchanged amid yuan weakness One Gulf-based financier with years of experience in the kingdom told CNBC: "The PIF's pivot towards domestic investments, widely acknowledged but now officially admitted, suggests that there is still a lot of spending needed. Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns." The financier spoke anonymously as they were not authorized to speak to the press. Andrew Leber, a researcher at Tulane University who focuses on the political economy of the Middle East, believes that the current pace of spending won't last. "The number of 'we pay up front and hope for economic returns later' giga projects that are currently underway is not sustainable," Leber said. "With that being said," he added, "the Saudi monarchy has shown itself to be somewhat flexible whenever economic realities assert themselves. I do think that eventually, a number of projects will be quietly shelved in order to bring its fiscal outlays back into greater sustainability." Saudi Arabia in October cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026 as it expects a period of higher spending and lower projected oil revenues. Real gross domestic product is now expected to grow 0.8% this year, a dramatic drop from a previous estimate of 4.4%, according to the ministry of finance. The kingdom's economy also swung dramatically from a budget surplus of $27.68 billion in 2022 to a deficit of $21.6 billion in 2023 as it ramped up public spending and decreased oil production due to its OPEC+ supply cut agreement. Its government forecasts a deficit of $21.1 billion for 2024, projecting revenue at $312.5 billion and expenditures at $333.5 billion. Saudi authorities expect that the budget will remain in deficit for the next several years as it pursues its Vision 2030 plans, but they add that they are fully prepared for this. "Our non-oil revenues have grown significantly, now it covers about 37% of expenditure. That's a significant diversification, and that gives you a lot of comfort that you can maneuver and be stable despite the fluctuation in oil price," Saudi Finance Minister Mohammed Al-Jadaan told CNBC in October. "Our aim is to make sure that our plans are stable and predictable." "We are not going to blink, we have significant fiscal resource under our disposal, and we are very disciplined in our fiscal position," the minister said. Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch. That combined with high foreign currency reserves — $456.97 billion as of September, a 4% percent increase year-on-year, according to the country's central bank — puts the kingdom in a comfortable place to manage a deficit, economists told CNBC. Riyadh is successfully issuing bonds, tapping debt markets for more than $35 billion so far this year. The kingdom has also rolled out a series of reforms to boost and de-risk foreign investment and diversify revenue streams, which S&P Global said in September "will continue to improve Saudi Arabia's economic resilience and wealth." When asked if the kingdom's spending trajectory is sustainable, Al-Jadaan replied: "Absolutely, yes," adding that the government recently published its numbers for the next three years and that "we think it is very sustainable." Still, many analysts outside the kingdom, as well as individuals working within the kingdom and on NEOM projects, are skeptical of the megaprojects' feasibility. Reports that some projects have been dramatically cut down — in the case of the Line, its size target slashed from 106 miles to 1.5 miles and population target down from 1.5 million by 2030 to less than 300,000 — attest to that concern on a higher level. Neom executives acknowledge that the current phase of work on The Line is for a building length of 1.5 miles — which would still make it the longest building in the world. However, the eventual goal of 106 miles has not changed, they say, stressing that cities are not built overnight and that construction is continuing apace. For Tarik Solomon, chairman emeritus at the American Chamber of Commerce in Saudi Arabia, "it's promising to see transparency and some project cutbacks." "The Kingdom's rising external borrowing reflects challenges with Vision 2030 feasibility," he told CNBC. "Though debt remains manageable at 26.5% of GDP, continued small pressures add up, underscoring the need for fiscal discipline and achievable goals." Solomon pointed to the desire of many Saudi residents for improvements to the infrastructure they use in their daily lives — like Riyadh's public transport, network connectivity, schools, and health care. "The road to resilience for Saudi Arabia isn't in figuring out ski slopes in the desert but in building with innovation, complexity, and the courage to pursue what's truly impactful," he said. Also on CNBC Donald Trump chooses hedge fund executive Scott Bessent for Treasury secretary Trump might name Kevin Warsh as Treasury chief then Fed chair later, report says Trump and Fed Chair Powell could be set on a collision course over interest ratesIndia's exports to Australia grew 14% since the signing of the India-Australia Economic Cooperation and Trade Agreement (ECTA) with textiles, chemicals, and agriculture growing substantially, and new lines, including gold studded with diamonds and turbojets highlighting the diversification enabled by the agreement, the government said Sunday. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for Total trade, however, moderated in FY24 to $24 billion although since its signing, bilateral merchandise trade has more than doubled to $26 billion in FY23 from $12.2 billion in FY21. The current fiscal continues to reflect strong momentum. Total merchandise bilateral trade in April-November 2024 reached $16.3 billion, according to a statement issued by the commerce and industry ministry. "This landmark agreement has brought with it increased market access for Indian exporters, expanded opportunities for MSMEs and farmers, and generated several employment avenues," commerce and industry minister Piyush Goyal said in a post on X, adding that it has also enabled a notable boost in IT/ITeS, business & travel services, and post-study work & work holiday visas. "We are committed to building on the momentum that the Ind-Aus ECTA has generated and achieve the AUD 100 billion trade target by 2030. Together, we are shaping a prosperous and resilient future," Goyal said. Exchange of preferential import data has commenced between both countries, highlighting the effective implementation of the agreement in 2023. 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Imports of essential raw materials, such as metalliferous ores, cotton, wood and wood products have fuelled India's industries, contributing to the win-win nature of this partnership. Sectors such as electronics and engineering have room for growth. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )