The flash of purple abayas at a conference in Saudi Arabia’s second-largest city, Jeddah, was more than a fashion statement. It’s a sign of the changes Jeddah is embracing as King Abdullah slowly loosens restrictions on women in his conservative land.
Saudi Arabia’s national water company agreed to a 2.2 billion-riyal ($587 million) supply deal with Jeddah Economic Co. for the Kingdom tower project in the Red Sea port of Jeddah, Saudi Press Agency reported.
After losing billions on U.S. stocks beginning in 2000, Alwaleed Bin Talal says he may become richer than the Oracle of Omaha. His strategy: holding an IPO for his luxury hotels and building the world’s tallest tower in his homeland.