Saudi Prince’s Trillion-Dollar Makeover Faces Funding Cutbacks, Neom to Get Less Funding

Saudi Arabia is likely to cut billions of dollars in spending on some of its biggest development projects, and place other plans on hold, as the kingdom grapples with the scale of its vast economic makeover. The sprawling desert development known as Neom is expected to be allocated 20% less than its targeted budget for this year, according to people familiar with the matter. Standard Chartered's Carla Slim speaks with Bloomberg's Joumanna Bercetche.