Saudi Arabia plans world’s tallest tower
By Abeer Allam
Saudi Arabia’s Prince Alwaleed bin Talal’s investment vehicle, Kingdom Holding,
The People's Bank of China governor Zhou Xiaochuan . Photographer: Andrew Harrer/Bloomberg China, the largest foreign investor in U.S. government securities, joined Russia in criticizing American policy makers for failing to ensure borrowing is reined in after a stopgap deal to raise the nation’s debt limit. People’s Bank of China Governor Zhou Xiaochuan said China’s central bank will monitor U.S. efforts to tackle its debt, and state-run Xinhua News Agency blasted what it called the “madcap” brinksmanship of American lawmakers. Russian Prime Minister Vladimir Putin said two days ago that the U.S. is in a way “leeching on the world economy.”
has announced that an associate company will partner with the country’s Bin Laden Group to build a tower near Jeddah that would replace Dubai’s 828m Burj Khalifa as the world’s tallest building.
The associate company, Jeddah Economic Co, signed the SR4.6bn ($1.23bn) contract with the Bin Laden Group, a construction company, that will also own a 16.63 per cent stake in the company. Kingdom Co will hold 33.35 per cent.