Bloomberg Saudi Arabia plans to turn hundreds of kilometers of untouched Red Sea coastline into a global tourism destination governed by laws “on par with international standards,” as part of its goal to transform the economy and reduce its reliance on oil. The Red Sea project will cover 34,000 square kilometers — an area bigger than Belgium — between the ...

Bloomberg Oil held gains above $50 a barrel before US government data forecast to show crude stockpiles extended declines, trimming a glut. Futures rose as much as 0.5 percent in New York after climbing 9.6 percent the previous six sessions. Inventories probably fell by 3.3 million barrels last week for a fifth weekly drop, according to a Bloomberg survey before ...

Bloomberg With a multibillion-dollar nuclear project in South Carolina dead, the fate of America’s nuclear renaissance now rests on one utility: Southern Co. Scana Corp dropped plans for two reactors Monday, leaving the two that Southern is building at the Vogtle plant in Georgia as the only ones under construction in the US. And even they are under threat: The ...