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A total of 15 Saudi and regional entities took part in the auction. (@PIF_en)
1.4 million tons of carbon credits successfully auctioned at Riyadh FII
Saudi Gazette reportRIYADH — Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the successful auction of 1.4 million tons of carbon credits, in the largest-ever carbon credit sale in the world, that was held on Tuesday, the first day of the 6th edition of the Future Investment Initiative (FII) in Riyadh.A total of 15 Saudi and regional entities took part in the auction, and at the closing ceremony certificates were presented to the participants by Yazeed Al-Humied, deputy governor and head of MENA Investments, for their participation in the auction, according to a press statement.Saudi Aramco, Olayan Financing Company and Saudi Arabian Mining Company (MAADEN) purchased the largest number of carbon credits. The other successful bidders at the auction were Abdul Latif...
October 26, 2022

1.4 million tons of carbon credits successfully auctioned at Riyadh FII

The announcement follows the launch of the Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary, in August 2022.
PIF to establish five new regional investment companies — Crown Prince
RIYADH — Crown Prince Mohammed bin Salman, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund (PIF) announced on Wednesday that the Fund will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman and Sudan.The announcement follows the launch of the Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary, in August 2022.The six companies aim to invest up to a total of SR90 billion ($24 billion) in ventures across various key sectors in each market.The announcement came on the second day of the 6th Edition of the Future Investment Initiative (FII), which is taking place in Riyadh, with the participation of leading investors, innovators and world leaders.The companies will invest in...
October 26, 2022

PIF to establish five new regional investment companies — Crown Prince

MISA on Tuesday signed five investment agreements in the aerospace, technology and finance sectors, demonstrating the country’s emerging positioning in global value chains.
5 investment agreements that advance Kingdom’s positioning in key global value chains signed
RIYADH — The Ministry of Investment of Saudi Arabia (MISA) has Tuesday signed five investment agreements in the aerospace, technology and finance sectors, demonstrating the country’s emerging positioning in global value chains.The agreements were signed on the sidelines of the Future Investment Initiative (FII6). MISA signed two of the agreements in the aerospace sector, demonstrating the Kingdom’s emerging positioning in this strategic industry.An agreement with world-leading aerospace company Boeing and local advanced metals manufacturer Tasnee to advance the Kingdom’s aerospace industry value chain; and an agreement with US space training company Orbite to develop investment opportunities in space tourism and entertainment.With an ambitious goal of localizing 50 percent of the...
October 26, 2022

5 investment agreements that advance Kingdom’s positioning in key global value chains signed

Minister of Economy and Planning Faisal Al Ibrahim said that the growth in the Kingdom jumped to 3.2% of the GDP, expecting a growth equivalent to 7.4% - 8%.
Al Ibrahim stresses sovereign wealth is reordering the world
RIYADH — The Future Investment Initiative (FII), in its activities Tuesday, discussed the global economy, how sovereign wealth is rearranging the world, the effects of the global economy that resulted from the transformation of sovereign wealth funds into new large investors, and the ways emerging markets are performing to attract financing.This came in a brainstorming session entitled "How Sovereign Wealth is Reordering the World", in which Minister of Economy and Planning Faisal Al Ibrahim participated.Al Ibrahim said that the growth in the Kingdom jumped to 3.2% of the GDP, expecting a growth equivalent to 7.4% - 8%, citing the estimate of the Organization for Economic Cooperation for Development (OECD), which expected growth of 9%.He added that the percentage of non-oil GDP...
October 26, 2022

Al Ibrahim stresses sovereign wealth is reordering the world

CEO of Mohammed bin Salman Foundation (Misk) Dr. Badr Al-Badr said that the coronavirus pandemic has led to a change in many global priorities and systems in general.
Misk CEO addresses in FII importance of dialogue to create generations
RIYADH — CEO of Mohammed bin Salman Foundation (Misk) Dr. Badr Al-Badr said that the coronavirus pandemic has led to a change in many global priorities and systems in general.This came during his participation in a dialogue session entitled "Clash of Generations" within the sessions of the 6th edition of the Future Investment Initiative (FII), indicating that Misk conducted a study on leadership after the pandemic.He added that the dialogue to create generations is important to open up wider horizons for developing ideas and methods to achieve the common goal, which is the transformational vision by choosing between the old school and the modern school of leadership.
October 26, 2022

Misk CEO addresses in FII importance of dialogue to create generations

The Education and Training Evaluation Commission (ETEC), in partnership with the World Bank Group, hosted Tuesday the Investment in Quality of Education and Impact on Economic Growth Forum.
ETEC, World Bank discuss priorities, challenges of improving education
RIYADH — The Education and Training Evaluation Commission (ETEC), in partnership with the World Bank Group, hosted Tuesday the Investment in Quality of Education and Impact on Economic Growth Forum.The forum comes as part of the cooperation program between the Commission and the World Bank Group, which is supported by the Ministry of Finance.The forum included a panel discussion in which international experts and representatives of the Ministry of Education, the Ministry of Finance, the Ministry of Human Resources and Social Development, and the Ministry of Economy and Planning participated to discuss the priorities and challenges of improving education. — SPA
October 26, 2022

ETEC, World Bank discuss priorities, challenges of improving education

Custodian of the Two Holy Mosques King Salman and Crown Prince Mohammed bin Salman congratulated Rishi Sunak on his appointment as British Prime Minister on Wednesday and wished him success in his new role.
King, Crown Prince congratulate Sunak on becoming British Prime Minister
Saudi Gazette reportRIYADH — Custodian of the Two Holy Mosques King Salman and Crown Prince Mohammed bin Salman congratulated Rishi Sunak on his appointment as British Prime Minister on Wednesday and wished him success in his new role.The King congratulated Sunak and expressed his best wishes for him to success, and wished further progress and prosperity for the friendly people of the United Kingdom.Meanwhile, Crown Prince and Prime Minister Mohammed in Salman, sent a similar message of congratulations to the UK Premier Sunak, on the occasion of his new appointment.In his cable, the Crown Prince expressed his sincere congratulations and best wishes for success to the British premier, and further progress and prosperity to the friendly people of the United Kingdom.
October 26, 2022

King, Crown Prince congratulate Sunak on becoming British Prime Minister

Custodian of the Two Holy Mosques King Salman arrived in Riyadh on Tuesday evening coming from Jeddah.
King Salman arrives in Riyadh
RIYADH — Custodian of the Two Holy Mosques King Salman arrived in Riyadh on Tuesday evening coming from Jeddah.Upon arrival at King Khalid International Airport, the King was received by Prince Faisal bin Bandar, emir of Riyadh region, and Prince Mohammed bin Abdurrahman bin Abdulaziz, deputy emir of Riyadh region.Those who accompanied the King included Prince Khalid bin Fahd bin Khalid; Prince Mansour bin Saud bin Abdulaziz; Prince Khalid bin Saad bin Fahd; Prince Sattam bin Saud bin Abdulaziz; Prince Faisal bin Saud bin Mohammed; Prince Dr. Hussam bin Saud bin Abdulaziz, emir of Al-Baha region and Prince Rakan bin Salman bin Abdulaziz and several senior officials. — SPA
October 26, 2022

King Salman arrives in Riyadh

Custodian of the Two Holy Mosques King Salman is being seen off by Prince Khaled Al-Faisal, emir of Makkah and advisor to Custodian of the Two Holy Mosques, at King Abdulaziz International Airport in Jeddah on Tuesday.
King Salman leaves Jeddah for Riyadh
RIYADH — Custodian of the Two Holy Mosques King Salman left Jeddah for Riyadh on Tuesday evening.At King Abdulaziz International Airport, the King was seen off by Prince Khaled Al-Faisal, emir of Makkah and advisor to Custodian of the Two Holy Mosques.Those who accompanied the King included Al-Baha Emir Prince Hussam bin Saud; Prince Rakan bin Salman; Prince Khalid bin Fahd; Prince Mansour bin Saud; Prince Khalid bin Saad; Prince Sattam bin Saud; Prince Faisal bin Saud and several senior officials. — SPA
October 25, 2022

King Salman leaves Jeddah for Riyadh

Crown Prince and Prime Minister Mohammed bin Salman receiving Pakistan Prime Minister Muhammad Shehbaz Sharif in Riyadh on Tuesday.
Crown Prince receives Pakistan prime minister, Senegalese president
Saudi Gazette report RIYADH — Crown Prince and Prime Minister Mohammed bin Salman received Pakistan Prime Minister Muhammad Shehbaz Sharif and Senegalese President Macky Sall here on Tuesday. Sharif and Sall arrived in Riyadh to attend the Future Investment Initiative (FII) conference, which started on Tuesday. During the meeting, the Crown Prince and Sharif reviewed historical relations between the two countries, as well as aspects of bilateral cooperation and ways to further strengthen them in various fields. They discussed the latest regional and international developments.The Crown Prince also met with Macky Sall. During the meeting, they reviewed bilateral relations between the two countries, joint cooperation, and opportunities for developing it in various realms, as well as a...
October 25, 2022

Crown Prince receives Pakistan prime minister, Senegalese president

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