The US Department of Defense has awarded a $16.38 million contract to Defense Maritime Solutions for the production of 12 main shaft seal assemblies, essential for the Virginia-class fast-attack submarines. Despite the contract being awarded to a US-based supplier, the manufacturing will take place in Havant, Hampshire, England, with completion expected by June 2026.

This move reflects the deepening industrial ties between the US and UK naval sectors, driven by the AUKUS alliance. With US shipyards facing production delays, collaborating with UK industries helps alleviate these challenges and ensures timely delivery of crucial submarine components.

1. Norlana

Norlana is an ultra-modern residential community within NEOM, situated on the Gulf of Aqaba coast. It includes mansions, apartments, beach villas, a marina, golf course, equestrian center, and water sports facilities. Sustainability and luxury are key aspects of this project.

2. Utamo

Utamo is an art and entertainment destination within NEOM, blending architecture with natural landscapes. It offers a unique venue for music, art, and cultural events, emphasizing sustainability and immersive digital experiences.

3. Siranna

Siranna is an exclusive tourism destination along the Gulf of Aqaba, featuring a luxury hotel, high-end residences, and various amenities like a beach club and wellness facilities. Its design focuses on sustainability and integration with the natural environment.

4. Epicon

Epicon is a luxury coastal tourism destination in NEOM with towers housing a premium hotel and residences, a resort, and beachfront villas. It aims to set new hospitality standards while enhancing NEOM's ecotourism sector.

5. Leyja

Leyja is a sustainable tourism destination in NEOM centered around a natural valley, offering three hotels and various activities like hiking and rock climbing. It focuses on eco-friendly tourism aligned with Saudi Arabia’s Vision 2030.

6. The Line

The Line is a linear, carbon-neutral city within NEOM, stretching over 170 kilometers. It features vertical structures and a walkable design, aiming to minimize land use and maximize sustainability while accommodating 9 million residents.

7. Trojena

Trojena is a mountain tourism destination in NEOM, featuring skiing, winter sports facilities, and luxury residences. It will host the 2029 Asian Winter Games and aims to establish Saudi Arabia as a winter sports tourism hub.

8. Oxagon

Oxagon is a floating city in the Red Sea near the Suez Canal, primarily focusing on logistics, manufacturing, and renewable energy. It is planned as a sustainable industrial hub and includes residential communities integrated with nature.

9. Sindalah

Sindalah is a luxury island destination in NEOM, featuring resorts, a yacht club, and various retail and dining options. It aims to be a premier Red Sea tourism gateway, focusing on sustainability and pedestrian-friendly design.

10. New Murabba

New Murabba is a new downtown district near Riyadh, featuring residential, commercial, and cultural attractions. It includes The Mukaab, a large cube-shaped structure with immersive digital experiences, aiming to enhance Riyadh's urban landscape.

11. Jeddah Tower

Jeddah Tower is set to become the world’s tallest building at over 1,000 meters, located in Jeddah. Part of the Jeddah Economic City development, it will include luxury residences, offices, hotels, and a high observation deck.

12. Desert Rock Resort

Desert Rock Resort is a luxury resort integrated into a desert landscape, offering unique accommodations like villas, crevice suites, and rock rooms. It focuses on sustainable practices and providing luxury amenities like spas and outdoor activities.

13. SEVEN Abha

SEVEN Abha is an entertainment destination in Abha, featuring attractions like a cinema, golf facility, and e-karting. It aims to boost local tourism and contribute to Saudi Arabia’s Vision 2030 by creating jobs and enhancing the entertainment sector.

14. SEVEN Yanbu

SEVEN Yanbu is an entertainment center along Yanbu's seafront, featuring rides, a cinema, bowling alley, and more. It celebrates Yanbu's coastal heritage and aims to enrich community life through diverse entertainment options.

15. SEVEN Tabuk

SEVEN Tabuk is an entertainment destination in Tabuk, featuring attractions like a family entertainment center, e-karting track, and cinema. It aims to support Tabuk’s local economy and provide innovative experiences through global partnerships.

16. AlUla

AlUla is an ancient heritage site being developed into an international tourism destination. The project includes historic districts, hotels, museums, and cultural centers, aiming to increase economic growth and diversify revenues from tourism.

17. Amaala

Amaala is a luxury tourism development along the Red Sea, offering high-end resorts, residences, retail, dining, and entertainment options. It focuses on wellness, culture, and sports, aiming to establish Saudi Arabia as a global luxury destination.

18. Red Sea Project

The Red Sea Project is a sustainable tourism development along the Red Sea coast, featuring luxury hotels, resorts, and recreational activities. It emphasizes environmental stewardship and aims to become a premier tourism destination in the Middle East.

19. Diriyah

Diriyah is a cultural and historical transformation project near Riyadh, aiming to become Saudi Arabia’s new cultural capital. It focuses on preserving the At-Turaif heritage site and developing modern amenities like shopping, dining, and residential areas.

20. King Salman Energy Park (SPARK)

SPARK is an industrial city focusing on the energy sector, providing infrastructure and services to attract companies and investors. It aligns with Vision 2030 by promoting economic diversification and job creation in the energy industry.

21. King Salman Park

King Salman Park in Riyadh will be the world’s largest urban park, offering cultural, recreational, and sports activities. It includes green spaces, museums, theaters, residential units, and more, enhancing life quality in Riyadh.

22. Qiddiya

Qiddiya is an entertainment city near Riyadh, featuring theme parks, sports facilities, cultural attractions, and more. It aims to become a global destination for entertainment and tourism, supporting Saudi Arabia’s Vision 2030.

23. Al Widyan

Al Widyan is a mixed-use development in Riyadh, offering residential, commercial, and recreational spaces. It focuses on sustainable urban planning and aims to provide a modern, vibrant community with various amenities and green spaces.

24. Entertainment Complex in Taif

This entertainment complex in Taif will feature a variety of attractions, including a theme park, water park, and hotels. It aims to enhance local tourism and create a significant number of jobs, contributing to Saudi Arabia's Vision 2030.

These projects are part of Saudi Arabia's ambitious plans to transform its economy, create jobs, and establish itself as a global destination for tourism, culture, and innovation.

The eurozone's manufacturing sector continues to struggle, with significant declines reported in Germany and France. Germany's manufacturing activity hit its lowest level since March, and France saw a sharp drop in factory orders. This has extended the eurozone's manufacturing recession to 26 months.

In contrast, the UK's manufacturing sector showed improvement, with its best performance in two years driven by strong domestic demand. The S&P Global UK Manufacturing PMI rose to 52.5, indicating growth.

Lloyds Bank is currently facing outages with its online banking services due to issues with Microsoft Azure. The bank is working to address these disruptions.

Meanwhile, the British pound has strengthened against the dollar, reaching a high for the year, while oil prices have fallen due to concerns about Chinese demand and potential Opec production increases. Additionally, gas prices have decreased following a new supply agreement between Turkey and Shell, as Europe continues to reduce its reliance on Russian gas.

Saudi Arabian Mining Co. (Ma’aden) has reported a 160% increase in net profit for the first half of 2024, reaching SR2 billion ($532 million). This growth is driven by higher sales volumes of primary aluminum and gold, reduced raw material costs, and favorable one-off financial adjustments, including an SR469 million insurance claim. Despite facing lower commodity prices and increased taxes, Ma’aden is making significant strides in its industrial projects, including the Phosphate 3 expansion and a new aluminum recycling plant. The company's strong performance highlights its contribution to Saudi Arabia's economic diversification and industrial development.