Saudi Cabinet commends information agreement with France

King Salman chairs the Cabinet session at Al-Salam Palace in Jeddah on Tuesday. (SPA)
Updated 10 July 2018
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Saudi Cabinet commends information agreement with France

  • At the Cabinet session at Al-Salam Palace in Jeddah, King Salman gave a briefing on the phone call he received from Japanese Prime Minister Shinzo Abe

JEDDAH: The Saudi Cabinet on Tuesday commended an agreement to protect classified information between the Kingdom and France, signed by Crown Prince Mohammed bin Salman and French Armed Forces Minister Florence Parly.

At the Cabinet session at Al-Salam Palace in Jeddah, King Salman gave a briefing on the phone call he received from Japanese Prime Minister Shinzo Abe. 

The king also briefed the Cabinet on the outcomes of his meetings with Parly and British Chancellor of the Exchequer Philip Hammond.

Interior Minister Prince Abdul Aziz bin Saud bin Naif briefed the Cabinet on the outcomes of his visits to Mauritius, Comoros, Seychelles and the Maldives, during which international developments and ways to enhance bilateral ties were discussed.

The Cabinet reviewed reports on the latest Arab, regional and international developments. It welcomed the convening of an international conference of Muslim scholars on peace and stability in Afghanistan, hosted by the Kingdom.

Saudi Arabia , as the top donor country to the UN Humanitarian Response Plan for Yemen in 2018, demonstrates its desire to alleviate the suffering of the Yemeni people, the Cabinet said. It condemned recent terrorist attacks in Tunisia and Somalia, offering condolences to the families of the victims, and to the governments and peoples of both countries. 

The Cabinet wished the wounded a speedy recovery, and reiterated the Kingdom’s solidarity with both countries against terrorism and extremism in all their forms.

It also expressed condolences to the families of the victims of the recent train crash in Turkey, and to the country’s government and people. 

The Cabinet expressed similar sentiments regarding floods and landslides that have swept many parts of Japan, wishing the injured a speedy recovery.


Financial Sector Conference kicks off Wednesday in Riyadh

Updated 28 min 52 sec ago
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Financial Sector Conference kicks off Wednesday in Riyadh

  • Thousands have signed up for the two-day event including ministers and top policy makers

Thousands of delegates are expected to attend a two-day finance event in Riyadh, which starts on Wednesday under the patronage of King Salman.

The Financial Sector Conference is being held by the Ministry of Finance and Saudi Arabian Monetary Authority (SAMA).

Organizers of the event at the Ritz-Carlton conference hall in Riyadh said informally that some 3,400 attendees had signed up for the two-day showcase of the Kingdom’s financial industry, and that more were registering at an impressive rate.

Delegates include ministers from the finance, economy and strategic ministries, as well as top policymakers from capital markets, investment and insurance industries.

It follows last year’s Future Investment Initiative (FII) and the National Industrial Development and Logistics Program events, held at the same venue.

The event will involve the presence of the Saudi Real Estate Refinance Company (SRC), which is seen as a key to providing more affordable housing in the Kingdom and boosting home  ownership by citizens.

SRC, a subsidiary of Saudi Arabia’s sovereign Public Investment Fund, aims to issue up to SR4 billion ($1.07 billion) of long-term sukuk — or Islamic bonds — this year, its chief executive said on Tuesday.

“Our strategy is clearly to tap the market twice this year,” Fabrice Susini said. “We are really looking at probably issuing something between ... 2 and 4 billion riyals that we may be issuing in two tranches.”