Saudi Cabinet appreciates UN condemnation of Houthi attacks

King Salman. (SPA)
Updated 04 September 2019

Saudi Cabinet appreciates UN condemnation of Houthi attacks

  • Flood aid to Khartoum displays Saudi-Sudan friendship

RIYADH: Recent royal decrees reflect the Kingdom’s keenness to develop various sectors in line with the Vision 2030 reform plan, the Saudi Cabinet said on Tuesday at a meeting chaired by King Salman at Al-Salam Palace in Jeddah. The creation of the Ministry of Industry and Mineral Resources, and of the National Center for Artificial Intelligence, are among the most important of the decrees. The Cabinet decided to include Nabil bin Mohammed Al-Amoudi on Saudi Aramco’s board of directors.
Trade and Investment Minister Dr. Majid Al-Qassabi told the Saudi Press Agency that the Cabinet appreciates the UN Security Council’s condemnation of the repeated targeting of civilians in Saudi Arabia by Houthi militias in Yemen.
The urgent relief campaign ordered by King Salman for Sudan stems from Saudi concern for the Sudanese people, and is part of the Kingdom’s pivotal role in providing assistance to people in need wherever they are, the Cabinet said.

HIGHLIGHTS

• The creation of the Ministry of Industry and Mineral Resources, and of the National Center for Artificial Intelligence, are among the most important of the decrees.   

• The Cabinet decided to include Nabil bin Mohammed Al-Amoudi on Saudi Aramco’s board of directors.

• Saudi and Afghan governments to jointly combat drug trafficking, Cabinet told.  

• Cabinet welcomes Umrah pilgrims to the Kingdom.

It added that the Saudi government provided $2 million in financial support to the Islamic Food Security Organization to contribute to the implementation of its programs, and to fulfil its commitments to member states.
The Cabinet welcomed Umrah pilgrims to the Kingdom, who are expected to number 10 million this year.
It authorized a memorandum of understanding (MoU) between the Saudi and Afghan governments to combat drug trafficking.  
The Cabinet also authorized an MoU between the Saudi National Anti-Corruption Commission and the UN Development Program in the field of corruption prevention.


Moath Al-Naeem, chief investment officer of Alpha Capital

Updated 55 min 25 sec ago

Moath Al-Naeem, chief investment officer of Alpha Capital

Moath Al-Naeem has been chief investment officer of Alpha Capital since its establishment in March 2018.

Alpha Capital is a rapidly growing company licensed by the Capital Market Authority and with assets well above SR1 billion ($267 million).

Before joining the company, Al-Naeem worked for almost a decade in Saudi Aramco’s investment department, which handled the oil giant’s multibillion-dollar pension and savings plans.

Al-Naeem began his career as a financial analyst in fixed income and public equity desks. Afterwards, he led the international real estate desk, where he conducted an on-site investment review and due diligence on several funds to build the global real assets portfolio.

He worked on the restructuring of Aramco’s thrift savings plan and was part of a team that led the successful spin-off of the investment department to a standalone entity, Wisayah Investment Co.

Al-Naeem, a CFA charter holder, earned his MBA from Imperial College London, and attended executive programs in real estate and private equity at Harvard and London Business School, respectively.

He is a board member of Dammam Airport Co. and Siporex Lightweight Construction Co., and a member of the Investment and Financial Papers Committee at the Riyadh Chamber of Commerce and Industry. He was also a board member of the CFA Society in Saudi Arabia.