RIYADH: Saudi Arabia’s Public Investment Fund (PIF) has shelled out $1 billion for a 38 percent stake in Posco E&C, the construction arm of the giant South Korean steelmaker Posco.
Addressing the inaugural meeting at Al-Yamamah Palace, King Salman said: “We are facing in our region serious challenges in the form of extremism, terrorism, as well as attempts to destabilize our countries … These attempts require our full attention,” said the king at the SICC, which has been convened to upgrade SaudiIraqi strategic ties and counter Iran’s regional influence.
RIYADH: King Salman and Iraqi Prime Minister Haider Al-Abadi jointly inaugurated the first high-profile meeting of the Saudi-Iraq Coordination Council (SICC) on Sunday, recalling the age-old ties of “fraternity, blood, history and destiny” between the Kingdom and Iraq. US top diplomat Rex Tillerson also attended the landmark meeting.
RIYADH: Saudi Arabia, which has extended SR54 billion ($14.4 billion) in humanitarian and developmental assistance to more than 80 countries in a year, ranks as the top donor among nations giving aid and assistance globally.
RIYADH: The Saudi Food and Drug Authority (SFDA) will host a major conference next month to discuss support of national industry in the food and medicine sectors.
RIYADH: In a major move to fight hostilities and prejudices toward Muslims and Islam globally, the Jeddah-based Organization of Islamic Cooperation (OIC) has joined forces with three other organizations to hold a regional forum in Dakar on Monday.
RIYADH: A major conference hosted by the Public Investment Fund (PIF) gets underway in the Saudi capital today attended by some of the world’s top business leaders and money managers.
RIYADH: A probe is underway into alleged irregularities linked to employee bonuses at Banque Saudi Fransi (BSF). The Riyadh-based bank is part-owned by the giant French lender Credit Agricole.
RIYADH: Banque Saudi Fransi (BSF) has launched an independent investigation into alleged irregularities linked to the payment of employee bonuses. A senior director at the bank, Mohamad Abdulhadi, has retired it also emerged.
RIYADH: King Salman made history on Wednesday as the first reigning Saudi monarch to visit Russia, where he is scheduled to hold wide-ranging talks with Russian President Vladimir Putin and other high-ranking Russian officials on bilateral, regional and international issues.