G20 SAUDI ARABIA | King Salman Says Pandemic Proved Flexibility, Strength Of Saudi Economy

Custodian of the Two Holy Mosques King Salman bin Abdulaziz stressed on Monday that the novel coronavirus pandemic demonstrated the flexibility and strength of the Saudi economy.

In an address before the Business 20, he said: ‘We are determined to boost development and prosperity through empowerment and investment in new sectors’.

Minister of Investment Khalid al-Falih read the speech on King Salman’s behalf.

‘The empowerment of youth and women are among the main priorities of the G20’, continued King Salman.

Moreover, he stressed that the G20 has been committed to ‘plugging the financial deficit in the World Health Organization’. It has therefore, contributed 21 billion dollars to support the production of diagnosis tools, treatments, medicines and vaccines, ensuring that they are distributed to all in need.

It has also pumped around 11 trillion dollars to protect the global economy, committing to do ‘all it can’ to overcome the impact of the pandemic.

The G20 had discussed best practices to support the revival of global trade, stimulate economic diversity and boost international investment, continued King Salman.

‘We cannot speak about new horizons in the G20 without discussing innovative solutions that can help develop the financial infrastructure, improve global trade systems and protect the private sector’, he said.

Sovereign Fund PIF Considers Saudi Telecom Stake Sale, Sources Say

Saudi Arabia’s Public Investment Fund (PIF) is considering divesting part of its stake in Saudi Telecom, sources close to the matter told Reuters, as the sovereign wealth fund seeks to monetise some of its assets. The fund, which holds $430 billion of assets, has hired Goldman Sachs and Saudi National Bank’s investment banking arm to … More Sovereign Fund PIF Considers Saudi Telecom Stake Sale, Sources Say

Saudi Arabian, Austrian FMs Hold Joint Press Conference In Vienna

Saudi Arabia’s Foreign Minister Prince Faisal bin Frhan on Tuesday said the Kingdom has a common vision with Austria regarding the  stability of the region in a joint press conference with his Austrian counterpart Alexander Schallenberf in Vienna. Schallenberg said Saudi Arabia is his country’s largest partner in the Middle East. ‘Saudi Arabia plays a … More Saudi Arabian, Austrian FMs Hold Joint Press Conference In Vienna

Saudi Crown Prince Inaugurates $1Bn Housing And Medical Projects For Ministry Of Defense Employees

Saudi Arabia’s Crown Prince Mohammed bin Salman inaugurated eight housing projects as well as medical treatment for employees of the Ministry of Defense, the state news agency SPA reported on Sunday. The initiative is part of new development projects implemented and recently completed by the ministry at a cost of more than SR 4 billion … More Saudi Crown Prince Inaugurates $1Bn Housing And Medical Projects For Ministry Of Defense Employees

MIDEAST STOCKS Saudi Bourse Underperforms Major Gulf Markets, Qatar Gains

Most major stocks markets in the Gulf ended lower on Sunday, with the Saudi index leading the losses, although Qatar bucked the trend to close higher. The benchmark index (.TASI) in Saudi Arabia, fell 0.6% with Al Rajhi Bank and petrochemical firm Saudi Basic Industries dropping 1.8% each. The kingdom’s April crude oil exports fell … More MIDEAST STOCKS Saudi Bourse Underperforms Major Gulf Markets, Qatar Gains

Biden, Putin Discuss Ambassadors, Nuclear Weapons And More

Presidents Joe Biden and Vladimir Putin of Russia spent more than three hours discussing issues Wednesday at their Summit in Geneva. They ticked through their respective lists so quickly and in such ‘excruciating detail’, Biden says, that they looked at each other and thought. ‘OK, what nexy?’ The most pressing issues the leaders discussed: AMBASSADORS … More Biden, Putin Discuss Ambassadors, Nuclear Weapons And More

Saudi Crown Prince Mohammed Bin Salman Meets US Climate Envoy

Saudi Arabia’s Crown Prince Mohammed bin Salman met with United States Special Presidential Envoy for Climate John Kerry in Riyadh on Wednesday, the official Saudi Press Agency (SPA) reported. The two sides reviewed international efforts exported to comfront climate change initiatives, which tackle reducing emission and preserving the environment, namely the ‘Saudi Arabia Green Initiative’ … More Saudi Crown Prince Mohammed Bin Salman Meets US Climate Envoy

UAE Foreign Minister Speaks With Israeli Counterpart – Tweet

The United Arab Emirates’ foreign minister, Sheikh Abdullah Bin Zayed, discussed on a phone call with his Israeli counterpart ‘the bilateral cooperation between the two countries, in addition to the Abraham Accords’, the minister’s office wrote in a tweet on Monday. Bin Zayed congratulated the Israeli foreign minister, Yair Lapid, on his new position and … More UAE Foreign Minister Speaks With Israeli Counterpart – Tweet

Bahrain’s Crown Prince Congratulates New Israeli PM Bennett – BNA

Bahrain’s crown prince sent a congratulatory telepgraph to new Israeli Prime Minister Naftali Bennett, in which he expressed his sincere wishes to the former government for success in its tasks ‘in a way that strengthen the pillars of development, stability, and  peace in the region and the world’, Bahrain state news agency (BNA) said on … More Bahrain’s Crown Prince Congratulates New Israeli PM Bennett – BNA

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