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And don't miss Liam Denning on Saudi Arabia's floating city: "NEOM, as I wrote here, represents another triumph of rhetoric over pragmatism. Talk of selling shares in it at some point -- "it might be after 2030" -- compounds the air of fantasy (old-fashioned muni bonds just aren't shiny enough, I guess). So does the prince's expectation that NEOM can be run like a business without the usual concerns other cities grapple with because, along with companies, they tend to be inhabited by that frequently irrational species known as human beings.
It also serves to remind any potential investor in Aramco of its biggest risk factor (apart from oil prices). Anyone buying shares in the oil company would also be buying a stake in that other risky venture known as the Saudi Arabian reform project."
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