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Saudi Minister of Economy and Planning Faisal Al-Ibrahim receives World Trade Organization Director General Dr. Ngozi Okonjo-Iweala in Riyadh on Tuesday.
Minister Al-Ibrahim discusses economic developments with WTO chief
Saudi Gazette reportRIYADH — Saudi Minister of Economy and Planning Faisal Al-Ibrahim met with Director General of the World Trade Organization Dr. Ngozi Okonjo-Iweala on the sidelines of the ninth edition of the Future Investment Initiative (FII9) Conference in Riyadh on Tuesday. During the meeting, they discussed recent economic developments at the national, regional, and global levels.
October 28, 2025

Minister Al-Ibrahim discusses economic developments with WTO chief

Aramco President and CEO Amin Nasser speaking at a session during the Future Investment Initiative (FII9) in Riyadh on Tuesday.
Amin Nasser unveils $2 billion plan to boost Aramco’s digital arm
Saudi Gazette report RIYADH — Aramco President and CEO Amin Nasser unveiled a bold investment plan to strengthen the company’s digital arm, announcing an injection of $2 billion into Aramco Digital over the next two to three years. Speaking at a session during the Future Investment Initiative (FII9) in Riyadh on Tuesday, Nasser said Aramco’s investments in technology have reached a cumulative value of $6 billion in just two years. He added that Aramco is also expanding its gas business by 60% over the next five years, alongside its continued growth in renewable energy and oil-to-chemicals initiatives. “We continue our exploration program despite our massive reserves because we are identifying new opportunities, especially in gas,” Nasser said. The Aramco chief stressed the...
October 28, 2025

Amin Nasser unveils $2 billion plan to boost Aramco’s digital arm

Saudi Crown Prince and Prime Minister Mohammed bin Salman holds talks with Prime Minister of Pakistan Muhammad Shehbaz Sharif in Riyadh on Monday.
Saudi Arabia, Pakistan agree to launch Economic Cooperation Framework
Saudi Gazette reportRIYADH — Saudi Arabia and Pakistan agreed to launch an Economic Cooperation Framework, based on the two countries' shared economic interests. The agreement was reached during the meeting between Crown Prince and Prime Minister Mohammed bin Salman and Prime Minister of Pakistan Muhammad Shehbaz Sharif in Riyadh on Monday. Both leaders also looked forward to convening the meeting of the Saudi-Pakistani Supreme Coordination Council. Under the agreement, both countries have affirmed their mutual desire to strengthen trade and investment relations to serve their common interests, according to a joint statement issued on Tuesday. This was based on the depth of the historic partnership between Saudi Arabia and Pakistan, which has spanned nearly eight decades, and based...
October 28, 2025

Saudi Arabia, Pakistan agree to launch Economic Cooperation Framework

Attending a Security Council session on the Middle East, Permanent Representative of Saudi Arabia to the United Nations Dr. Abdulaziz Al-Wasel condemned the Israeli draft laws aimed at imposing sovereignty over the West Bank and illegal settlements.
Saudi Arabia underscores need to empower Palestinians to live with dignity
Saudi Gazette reportNEW YORK — Permanent Representative of Saudi Arabia to the United Nations Dr. Abdulaziz Al-Wasel reaffirmed the Kingdom’s steadfast support for the Palestinian people and its commitment to achieving a just and lasting resolution to their cause. During a Security Council session on the Middle East, Dr. Al-Wasel emphasized the importance of rebuilding Gaza and empowering the Palestinian people to live with dignity. He also commended several countries' recognition of the State of Palestine and the outcomes of the General Assembly deliberations in New York. He praised the mediation efforts of US President Donald Trump, Qatar, Egypt, and Turkiye in initiating the implementation of a ceasefire in Gaza, reaffirming the Kingdom’s support for all efforts that lay the...
October 28, 2025

Saudi Arabia underscores need to empower Palestinians to live with dignity

World Trade Organization (WTO) Director General Dr. Ngozi Okonjo-Iweala speaks at the 9th Future Investment Initiative (FII9) Conference in Riyadh on Tuesday.
WTO chief: Global cooperation is key to addressing current challenges
Saudi Gazette reportRIYADH — World Trade Organization (WTO) Director General Dr. Ngozi Okonjo-Iweala emphasized that international cooperation is essential for addressing current challenges and ensuring a stable global trading system that fosters development and sustainable growth. “Despite significant challenges, the international trading system continues to effectively stabilize global trade, with more than 70 percent of trade conducted within the WTO framework,” she said while speaking at the 9th Future Investment Initiative (FII9) Conference in Riyadh on Tuesday. Okonjo-Iweala highlighted the need for reforms to adapt to rapid economic and technological changes. Addressing a session on "Is the World Heading from Free to Strategic Trade?", she described the current period as an...
October 28, 2025

WTO chief: Global cooperation is key to addressing current challenges

Minister of Investment Khalid Al-Falih speaking at the Future Investment Initiative (FII9) Conference in Riyadh on Tuesday.
Al-Falih at FII: Non-oil revenues make up 40% of Saudi budget and FDI quadruples
Saudi Gazette reportRIYADH — Minister of Investment Khalid Al-Falih said that foreign direct investment (FDI) has quadrupled in the Kingdom, surpassing its targets. “Around 90 percent of foreign direct investment flowing into the Kingdom is concentrated in non-oil sectors, while other sectors represent only about 10 percent. Forty percent of the Kingdom's budget and expenditures are now financed by non-oil revenues,” he said while speaking at the ninth edition of the Future Investment Initiative (FII9) Conference in Riyadh on Tuesday. Participating in a dialogue session titled "Leaders of Public-Private Alliances," Al-Falih asserted that Vision 2030 has proven to be a reality, not merely a dream. He also elaborated the Saudi economy's transition away from oil dependence....
October 28, 2025

Al-Falih at FII: Non-oil revenues make up 40% of Saudi budget and FDI quadruples

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of the Future Investment Initiative (FII), speaking at the opening of the 9th edition of the Future Investment Initiative. (SPA)
Al-Rumayyan: $250 billion in deals signed through past FII editions
Saudi Gazette reportRIYADH — Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of the Future Investment Initiative (FII), revealed that deals worth around $250 billion have been signed during the past nine editions of the FII since its inception, underscoring the event’s growing global impact on investment and innovation. Speaking at the opening of the 9th edition of the Future Investment Initiative, held under the patronage of Custodian of the Two Holy Mosques King Salman at the King Abdulaziz International Conference Center in Riyadh, Al-Rumayyan highlighted the need for a new global model and stronger international cooperation to drive prosperity. He said, “The world’s combined GDP now exceeds $111 trillion. What we need is a new model and...
October 28, 2025

Al-Rumayyan: $250 billion in deals signed through past FII editions

Minister of Communications and Information Technology Eng. Abdullah Alswaha receives President and Chief Investment Officer of Alphabet and Google Ruth Porat in Riyadh on Monday.
Alswaha and Google Chief discuss strengthening partnership in digital infrastructure and AI
Saudi Gazette reportRIYADH — Minister of Communications and Information Technology Eng. Abdullah Alswaha met with President and Chief Investment Officer of Alphabet and Google Ruth Porat in Riyadh on Monday. They discussed the ways to further strengthen the strategic partnership in digital infrastructure, high-impact investments in data centers and cloud computing, and expanding cooperation in artificial intelligence and emerging technologies.They also explored ways to empower the innovation and digital entrepreneurship ecosystem in the Kingdom, support knowledge transfer and national capacity-building in advanced technologies, and enhance the competitiveness of the digital economy, in line with the goals of Saudi Vision 2030.
October 27, 2025

Alswaha and Google Chief discuss strengthening partnership in digital infrastructure and AI

Saudi Crown Prince and Prime Minister Mohammed bin Salman holds talks with Pakistan Prime Minister Shehbaz Sharif in Riyadh on Monday.
Saudi Crown Prince meets several world leaders
Saudi Gazette reportRIYADH — Saudi Crown Prince and Prime Minister Mohammed bin Salman met on Monday with several world leaders and their accompanying delegations on the sidelines of the ninth edition of the Future Investment Initiative (FII) conference, which began in Riyadh. During the meetings, they discussed bilateral relations and ways to further enhance cooperation across various fields. The leaders who met the Crown Prince include Pakistan Prime Minister Shehbaz Sharif, President of Kosovo Vjosa Osmani Sadriu, President of Mauritania Mohamed Ould Cheikh El Ghazouani, Prime Minister of Albania Edi Rama, President of Rwanda Paul Kagame, President of Bulgaria Rumen Radev, President of Guyana Dr. Mohamed Irfaan Ali and Prime Minister of Montenegro Milojko Spajić. Those who attended...
October 27, 2025

Saudi Crown Prince meets several world leaders

Saudi Minister of Investment Khalid Al-Falih addressing the Saudi-Syrian roundtable meeting in Riyadh on Monday.
Saudi-Syrian roundtable explores new investment opportunities in priority sectors
Saudi Gazette reportRIYADH — Saudi Minister of Investment Khalid Al-Falih and several Syrian ministers attended a high-level Saudi-Syrian roundtable meeting held in Riyadh on Monday.The Syrian ministers who attended the meeting include Minister of Economy and Industry Mohammad Al-Shaar, Minister of Finance Mohammed Yisr Barnieh, Minister of Energy Mohammed Al-Bashir, Minister of Communications and Information Technology Abdulsalam Haykal, and Director General of the Syrian Investment Authority Talal Al-Hilali. Representatives from both nations' public and private sectors also participated in the meeting. Speaking on the occasion, Al-Falih affirmed the Kingdom's keenness to be an active partner in Syria's economic and developmental future. He highlighted the historic step...
October 27, 2025

Saudi-Syrian roundtable explores new investment opportunities in priority sectors

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