French firm to design, mint new Saudi coins

Courtesy: (Monnaie de Paris)
Updated 13 June 2016
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French firm to design, mint new Saudi coins

JEDDAH: Saudi Arabia is in the process of designing new coins. The coins are being designed by the Monnaie de Paris company at its manufacturing facility in Pessac.
The factory will produce 300 million pieces in seven categories. The new coins are expected to enter production between 2016 and 2017.
The contract is worth 15 million euros and is the result of three years of negotiations. The president of the company said the Saudi coin deal represented one year of export to other clients which is 30 percent of the company’s activities.
The deal has been under negotiation since 2013, and the majority of negotiations dealt with the coin’s design. Coin design experts from the company, who designed many currencies for other countries, such as Uruguay and Thailand, were approved for the job.
During the past five years, the coin production factory has attracted contracts for 1.3 billion for the French state in comparison with 700 million during the past two years. This is a low number in comparison with countries such as Germany.


Al-Jubeir meets UK Foreign Secretary Jeremy Hunt

Updated 26 April 2019
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Al-Jubeir meets UK Foreign Secretary Jeremy Hunt

LONDON: Saudi Minister of State for Foreign Affairs Adel Al-Jubeir met the British Foreign Secretary Jeremy Hunt at the British Foreign Office in London on Thursday.

The two sides held talks during which they reviewed bilateral relations between the two countries and regional and international developments.

The meeting was attended by the Kingdom’s Ambassador to Yemen Mohammed bin Saeed Al-Jaber.

Al-Jubeir also met with Minister of State for the Middle East Alistair Burt and a number of UK Parliament members at the Saudi Embassy in London.

Earlier, Hunt highlighted the strategic partnership between Britain and Saudi Arabia and said that it would help British efforts to end the war in Yemen. “The strategic relationship that the UK has with Saudi Arabia is what allows us to have a huge influence in bringing about peace in Yemen,” he said.