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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

Four female students of Bisha University were died in a horrific traffic accident in the southern Asir region on Sunday.
4 university girl students die in horrific accident in Bisha
Saudi Gazette reportRIYADH — Four female students of Bisha University were died and a fifth one injured in a horrific traffic accident that occurred on the Bisha-Khamis Mushayt road in the southern Asir region on Sunday. Bisha University mourned its students who died in the traffic accident, wishing a speedy recovery to the injured student. Many social media users offered condolences over the fatal crash, praying for mercy and forgiveness for the deceased and for patience and solace for their bereaved family members.
October 27, 2025

4 university girl students die in horrific accident in Bisha

Saudi Minister of Commerce Majed Al-Qasabi meets with British Chancellor of the Exchequer Rachel Reeves in Riyadh on Monday.
Al-Qasabi holds talks with UK counterpart and US business delegation
Saudi Gazette reportRIYADH — Saudi Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center Majed Al-Qasabi met with a British delegation led by Chancellor of the Exchequer Rachel Reeves in Riyadh on Monday. The delegation also included Britsh Minister of State for Investment Jason Stockwood, and British Ambassador to Saudi Arabia Dr. Stephen Hitchen, along with several British officials. During the meeting, the two sides discussed ways to strengthen trade and economic relations between Saudi Arabia and the United Kingdom, focusing on priority and emerging sectors. Discussions also covered cooperation in financial services, financial technology, e-commerce, innovation, advanced manufacturing, supply chains, competitiveness, and exports. The...
October 27, 2025

Al-Qasabi holds talks with UK counterpart and US business delegation

Saudi Arabia started implementing the first phase of the decision to raise the localization rate of accounting professions in the private sector by 40 percent, effective from Monday, Oct. 27.
Saudi Arabia starts implementing 40% localization in 44 new accounting professions
Saudi Gazette reportRIYADH — Saudi Arabia started implementing the first phase of the decision to raise the localization rate of accounting professions in the private sector by 40 percent, effective from Monday, Oct. 27.The Ministry of Human Resources and Social Development, in partnership with the Ministry of Commerce, announced that this decision will be applicable to establishments employing five or more accountants. The minimum wage for the profession has been set at SR6,000 for holders of a bachelor's degree or its equivalent, and SR4,500 for holders of a diploma or its equivalent. This is part of efforts to provide more diverse job opportunities for male and female citizens in all sectors across the Kingdom. The decision includes raising the percentage of Saudization in 44...
October 27, 2025

Saudi Arabia starts implementing 40% localization in 44 new accounting professions

Tala Al-Mazrou overcoming Thailand’s Supawadee 3–0 in the final to secure the title. (credit: Team Saudi)
Tala Al-Mazrou wins Saudi Arabia’s first eSports gold at Asian Youth Games
Saudi Gazette reportMANAMA— Saudi player Tala Al-Mazrou won a gold medal in an eSports competition at the 3rd Asian Youth Games in Bahrain, becoming the first Saudi woman to win such a medal.Al-Mazrou remained unbeaten throughout the eFootball tournament, defeating her Laotian opponent 2–1 before overcoming Thailand’s Supawadee 3–0 in the final to secure the title.Developed by Konami, eFootball is a football simulation game in which competitive play is typically dominated by male players, making Al-Mazrou’s victory a significant milestone for Saudi women in digital sports.The Asian Youth Games, held every four years under the Olympic Council of Asia, bring together athletes aged 14 to 17 from across the continent to compete in both physical and digital sports.Al-Mazrou is also...
October 27, 2025

Tala Al-Mazrou wins Saudi Arabia’s first eSports gold at Asian Youth Games

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