Saudi Cabinet hails Trump’s Iran stance, reiterates KSA’s support for fight against terrorism

King Salman chairs the Cabinet session in Riyadh on Tuesday. (SPA)
Updated 18 October 2017
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Saudi Cabinet hails Trump’s Iran stance, reiterates KSA’s support for fight against terrorism

RIYADH: King Salman headed Saudi Arabia’s latest Cabinet session on Tuesday afternoon at Al-Yamamah Palace in Riyadh.
The king briefed the Cabinet on his phone call with US President Donald Trump, saying he had expressed the Kingdom’s support for Trump’s firm stance on Iran and his condemnation of Iran’s support for terrorism in the region.
King Salman also briefed the Cabinet on his recent talks with Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, during which they discussed the bilateral relations and reviewed the region’s events.
Palestinian President Mahmoud Abbas, the king revealed, had briefed him on the recent reconciliation agreement between Abbas’ Fatah-backed Palestinian National Authority and Hamas. King Salman observed that unity will enable the Palestinian government to better serve its citizens.
The king also briefed the Cabinet on his phone call with Iraq’s Prime Minister, Haider Al-Abadi, in which he stated that the Kingdom fully supports the unity, security and stability of Iraq, as well as the adherence of all parties to the Iraqi Constitution.
Minister of Culture and Information, Awwad bin Saleh Al-Awwad, said in his statement to the Saudi Press Agency (SPA) that the Cabinet had reviewed the Justice Ministry’s submissions on the transferal of commercial disputes from the jurisdiction of the Board of Grievances to specialized commercial courts, which he described as “a great leap forward” in the Kingdom’s legal system.
The Cabinet condemned the attacks that targeted security points in the city of Al-Arish in Egypt, the two bombings in the Somali capital of Mogadishu, and the attack on the Djimbi mosque in the Central African Republic. It also reiterated its continuous support of countries fighting terrorism.
The Cabinet approved several mandates from ministers to draft memoranda of understanding with other countries, including the Republic of Korea, Morocco and the UAE, as well as a new system to regulate the trading of petroleum products.


‘Davos in the Desert’ brings 150 global leaders to Riyadh

Updated 16 October 2018
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‘Davos in the Desert’ brings 150 global leaders to Riyadh

  • The Future Investment Initiative (FII) runs from Oct. 23 to 25
  • The three key themes of this year’s event are investing in transformation, technology as an opportunity, and advancing human potential

RIYADH: The Public Investment Fund (PIF) of Saudi Arabia has revealed the program for a high-profile gathering of global leaders, business chiefs and innovators in Riyadh next week.

The Future Investment Initiative (FII) runs from Oct. 23 to 25 with US Treasury Secretary Steve Mnuchin and IMF Managing Director Christine Lagarde among those scheduled to take part.

More than 150 speakers from 140 different organizations have confirmed their attendance for the event which was hosted for the first time a year ago and was quickly dubbed “Davos in the Desert” — a reference to the annual World Economic Forum hosted each year in the Swiss resort.

The three key themes of this year’s event are investing in transformation, technology as an opportunity, and advancing human potential.



“FII is a global platform focused on identifying future economic trends and opportunities, defining the future of industries and discussing how investment can contribute to overall global prosperity and development,” the PIF, Saudi Arabia’s sovereign wealth fund, said on Monday.

“Ten years on from the global financial crisis, the world is undergoing a period of large-scale economic and technological transformation. FII will convene global leaders, investors and innovators to discuss how businesses, governments and global institutions can work together to drive long-term growth and prosperity.”

The next installment of FII will include a panel called “One World” — a look at how leaders from business and government develop a collective vision for the future.

Other sessions cover digital currencies, capital flows, market drivers, immersive technology, sustainability and giga-projects such as NEOM, the vast development announced at last year’s FII.