Mexico eyes Gulf investment funds

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Updated 19 January 2016
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Mexico eyes Gulf investment funds

RIYADH: Custodian of the Two Holy Mosques King Salman was conferred on Sunday the highest Mexican honor for his contributions to promote bilateral relations and for his “distinguished services to mankind in general.” 
 
The Order of the Aztec Eagle was presented to the king by Mexican President Enrique Pena Nieto at Al-Yamamah Palace.
“The Aztec Eagle (collar) is the highest Mexican recognition presented to non-Mexican heads of state for their services to Mexico and for rendering services to humanity,” said Mexican Ambassador Arturo Trejo. King Salman, on his part, reciprocated the gesture and presented the coveted King Abdulaziz Medal to Nieto at the palace ceremony. 
According to the citation, King Salman received the order for his important contributions and dedication in promoting understanding, friendship, peace and for rendering services to mankind. The Aztec Eagle (collar) is made up of 30 pieces of gold-plated silver and decorated with the Mexico City Aztec emblem. 
The talks between the two leaders were followed by the signing of nine agreements as announced earlier, said Trejo. “Both the king and Nieto witnessed the signing.” 
Trejo added that the two leaders discussed a range of bilateral and international issues besides ways and means to expand economic cooperation, investment in new sectors and strengthening the political dialogue. King Salman was also invited by the Mexican president to visit Mexico.
Mexican Energy Minister Pedro Joaquin Coldwell said Mexico was particularly interested in the Gulf states’ large investment funds, “which represent an opportunity for Mexico to capture investment.” 
Mexico is keen to attract investment to its oil sector after Nieto undertook reforms that ended state-run firm Pemex’s 77-year monopoly. 
Accompanied by his wife, Angelica Rivera de Pena, Nieto attended a lunch banquet hosted by the king in his honor. 
Nieto also participated in a joint business forum at the Council of Saudi Chambers. Later, Nieto left for Abu Dhabi, where he will deliver a keynote speech at the World Future Energy Summit.
Over 50 deals will be signed during Nieto’s six-day Middle East tour.


Formula E brings racing-themed roadshow to Jeddah

Updated 23 min 46 sec ago
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Formula E brings racing-themed roadshow to Jeddah

  • The Road to Ad Diriyah will give Jeddah a taste of the historical three-day festival of racing, live music, culture and entertainment that is set to take place in Ad Diriyah
  • More than 6,000 motorsport fans stormed to Khobar last week for the road show

DUBAI: After a successful run in Khobar last week, Road to Ad Diriyah, a racing-themed entertainment event, is set to visit Jeddah as the country gears up for all-electric street car-racing activities in December.

More than 6,000 motorsport fans stormed to Khobar last week for the road show, which featured racing-themed activities heralding the upcoming 2018 Saudia Ad Diriyah E-Prix on Dec. 13 to 15, a first-of-its-kind sporting event in the Middle East.

The Jeddah edition opens on Nov. 22, with most of the activities from the previous one, as well as an e-sports competition whose winner will take home SAR 1,000,000.

The ABB FIA Formula E Road to Ad Diriyah e-sports championship allows fans to command a SAR 250,000 professional racing simulator. The 16 best participants will then be invited to Ad Diriyah in December for the grand finals.

The Road to Ad Diriyah will give Jeddah a taste of what the historical three-day festival of racing, live music, culture and entertainment that is set to take place in Ad Diriyah will be like.

Bavaria Zaman, who visited the Khobar show with husband Rashid Khan and kids Nawal, Daiin and Nashin, said: "I think it's fantastic. The kids are running around and having fun."

The upcoming E-Prix is the first in a 10-year partnership between ABB FIA Formula E and the General Sports Authority of Saudi Arabia (GSA) and the Saudi Arabian Motor Federation (SAMF).