France's ambition for a €800 million Saudi investment in cultural projects has dwindled to just €50 million, as President Macron's upcoming visit is seen as a last chance to revive the deal. Despite initial hopes for cooperation on transforming AlUla into a tourist destination, years of stalled negotiations and shifting commitments have left the future of the agreement uncertain.
The Tibi initiative, launched by the French government, aims to address the financing gap for technology companies by mobilizing €7 billion from institutional investors by 2026. Following the success of its first phase, the initiative seeks to foster the growth of innovative firms into regional and global leaders, enhancing France's tech ecosystem. Regular technical committees will evaluate fund applications to ensure alignment with the initiative's goals.
France is accelerating its strategic planning in anticipation of a potential second Trump presidency, emphasizing the need for Europe to bolster its sovereignty and defense. A task force led by Tristan Aureau will assess Trump's positions on Ukraine, the EU, and defense, amid concerns he may exploit European divisions to weaken responses to a trade war. The EU is preparing a contingency plan to counteract Trump's expected tariffs and maintain unity among member states.
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