Saudi trade summit takes place in Riyadh

The 7th Annual Saudi Trade Finance (STF) Summit took place recently in Riyadh, with the slogan “Enabling the Kingdom’s vision for a better future.” (Twitter/@QnAIntl)
Updated 20 November 2019

Saudi trade summit takes place in Riyadh

  • The summit was founded in 2013 to bridge the gap between CFOs and financial institutions
  • The high-profile event provided a platform to bring together CEOs, presidents, chairmen, group CFOs, finance and treasury heads and thriving government agencies in the Kingdom

RIYADH: The 7th Annual Saudi Trade Finance (STF) Summit took place recently in Riyadh, with the slogan “Enabling the Kingdom’s vision for a better future.”
The high-profile event provided a platform to bring together CEOs, presidents, chairmen, group CFOs, finance and treasury heads and thriving government agencies in the Kingdom to open up thought-provoking panels on current trends, challenges and opportunities in the finance sector.
The summit was founded in 2013 to bridge the gap between CFOs and financial institutions, and this year the General Authority for Small and Medium Enterprises (Monshaat) organized, supported, developed and sponsored the small and medium enterprise (SME) sector.
Monshaat, as a supporting partner of STF, told Arab News: “The efforts of Monshaat in the finance sector is verified into many categories dedicated to small and medium enterprises, including: Venture Capital, SMEs fees refund, funding platform, and indirect lending with a total budget of approximately SR11.4 billion ($3.039 billion) distributed among them.
“An example of one portal is the funding platform, that brings together entrepreneurs and owners of SMEs looking for financing, allow them to choose appropriate financing and connect them to 20 20 funding partners including banks, finance companies and investment companies.”
The STF Summit’s informative conference sessions and unparalleled networking opportunities this year have emphasized the diversification of the economy to empower financial institutions and corporates in achieving the Kingdom’s Vision 2030 Program through sustainable growth.


Coalition destroy Houthi drone targeting Saudi Arabia

Updated 13 min 40 sec ago

Coalition destroy Houthi drone targeting Saudi Arabia

  • The drone was targeting civilian areas in the south of the Kingdom
  • Saudi Arabia last week denounced the Houthi militia’s continued launch of drones targeting civilians in the Kingdom

DUBAI: Saudi-led Arab coalition intercepted a Houthi drone targeting civilian areas in the Kingdom on Friday, state news agency SPA reported.
“Forces of the Arab coalition have destroyed a drone launched by terrorist Houthi militants on civilian areas in the south,” Spokesperson Col. Turki Al-Maliki said.
Saudi Arabia last week denounced the Houthi militia’s continued launch of drones targeting civilians in the Kingdom.
The attacks are carried out in “a systematic and deliberate manner, which is a flagrant violation of international humanitarian law and its customary rules,” the Saudi council of ministers said in a weekly meeting.
The cabinet said the Kingdom wanted to “promote the values of pluralism and international cooperation stipulated in the United Nations Charter, in order to achieve sustainable development plans and goals and overcome challenges to reach a more inclusive and just world.”
The council reviewed a number of other issues and regional and international developments.
The ministers also said recent positive estimates of credit rating agencies on the Kingdom’s economy reflected its ability to face global economic challenges.