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LIVE coverage: Saudi Arabia hosts landmark investment conference

Tuesday, 24 October 2017

Saudi Arabia has opened a major investment conference aimed at shining a spotlight on the country's efforts to diversify its revenue streams and overhaul its economy and society. At the heart of these reforms are plans to build the world's largest sovereign wealth fund, the  Public Investment Fund (PIF) which grabbed headlines with a $3.5 billion investment in ride-hailing service Uber last year. The Future Investment Initiative (FII) conference, which runs for three days, will include a ...

8 things you need to know about Saudi Arabia’s innovative NEOM project

Tuesday, 24 October 2017

NEOM is the world’s first independent special zone stretching over three countries. It is set to become a new vibrant destination located in the Northwestern region of Saudi Arabia. Expected to emerge as a leading global hub that exemplifies the future of human civilization by offering its inhabitants an idyllic lifestyle combined with exceptional economic prospects. NEOM seeks to attract top talent from around the world to push the boundaries of innovation like never before, and drive the ...

Saudi Crown Prince launches NEOM, a ‘$500bn investment in the future’

Tuesday, 24 October 2017

Saudi Crown Prince Mohammed bin Salman announced the launch of NEOM on Tuesday, a project that aspires to be the “safest, most efficient, most future oriented, and best place to live and work” in the kingdom. NEOM’s land mass will extend across the Egyptian and Jordanian borders, rendering NEOM the first private zone to span three countries. The project will be backed by more than $500 billion over the coming years by Saudi Arabia. Wind and solar power will allow NEOM to be ...

Saudi CEO Lubna Olayan: ‘Arab world will frog-leap into Big Data’

Tuesday, 24 October 2017

The Arab world and the West are in their infancy when it comes to Big Data, but the region will soon frog-leap into the field, Saudi CEO Lubna Olayan said at a landmark investment conference held in Riyadh on Tuesday. Olayan was part of a panel discussion held in the landmark conference - The Future Investment Initiative (FII). The discussion was titled “Data-driven world: The future of the information economy.” The FII is a conference hosted by Saudi Arabia's Public Investment Fund ...

Saudi Public Investment Fund unveils entertainment city logo

Tuesday, 24 October 2017

The Public Investment Fund unveiled the logo of the Qiddiya project, which will be the Saudi kingdom’s largest cultural, sports and entertainment city. The project was announced in April this year, and its newly announced logo was innovatively designed to reflect the unique nature of the region where the city will be built. The Qiddiya project is 40 kilometers away from the center of Riyadh and the logo includes the name of the area and its location. It was inspired by the Tuwaiq ...

Berlin seeks new partnerships with Riyadh through Future Investment Initiative

Monday, 23 October 2017

A German diplomat has confirmed that his country will expand its cooperation with Riyadh in various economic, political and security fields during the coming year, pointing out that a large delegation will participate in the Future Investment Initiative, hosted by Riyadh starting Tuesday, to explore new opportunities and partnerships and increase trade and investment between the two countries.“The bilateral relations are constantly developing at all levels, due to the continuous ...

Saudi Aramco IPO on track for second half of 2018, CEO says

Monday, 23 October 2017

Saudi Aramco's initial public offering will take place in the second half of 2018, CEO Amin Nasser said Monday, dismissing reports that the oil giant's plans could be shelved. "We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018," Nasser said in an interview with CNBC television. "The IPO is on track. The listing venue will be discussed and shared in due course," Nasser told the channel in Riyadh. The Aramco chief also said ...

UK Times hails Saudi crown prince’s ‘riyal diplomacy’ to lead world economy

Monday, 23 October 2017

Riyadh has sent a clear message of its desire to move away from the oil-dependent economy, diversify its resources, and put Saudi Aramco for initial public offering (IPO). According to the British newspaper The Times, Saudi Arabia seeks to be the world’s largest technology investor; based on Crown Prince Mohammed bin Salman’s Vision 2030 to construct a new post-oil economy. The Saudi Crown Prince’s vision is set to expand economic assets and launch strategic projects within and ...

Trump tells Paris, Berlin to ‘keep making money’ via trade with Tehran

Monday, 23 October 2017

US President Donald Trump said in an interview aired Sunday he does not object to France and Germany continuing trade with Iran, despite his refusal to certify the Iran nuclear deal. “I told them just keep making money,” the real estate mogul-turned-president told the Fox News program Sunday Morning Futures. “Don’t worry. We don’t need you on this one.” “They are friends of mine. They really are. I get along with all of them. Whether it’s Emmanuel ...

Saudi Airlines to operate regular Baghdad route starting Oct. 30

Sunday, 22 October 2017

Saudia Airlines will begin its first flight to Baghdad on Oct. 30 in what will be the first flight to the Iraqi capital after 27 years of interruption.The news comes after Saudi budget airline Flynas last week made its first direct flight since 1990 from Sausi Arabia to Iraq.Saudia Airlines CEO Saleh Al Jasser confirmed the news to Al Ekhbariya on Sunday and said that the carrier will operate two direct flights a day.This comes after Iraqi Minister of Transport, Kazem Finjan met last week with ...

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