Saudi Public Investment Fund holds event to promote portfolio companies

The event brought together 75 companies and 200 individuals from PIF portfolio companies. (Shutterstock)
Updated 03 December 2019

Saudi Public Investment Fund holds event to promote portfolio companies

  • The PIF Way aims to help businesses in supporting the development of an effective governance structure

RIYADH: The Public Investment Fund (PIF) organized a Partners’ Forum on Monday as part of its efforts to support its portfolio companies as an active and engaged investor.

The event brought together 75 companies and 200 individuals from PIF portfolio companies working in a broad range of sectors.

Experts in digital disruption — including cybersecurity, artificial intelligence and data analytics — discussed future trends, and the risks and opportunities they create.

The forum also discussed the potential impact of technology on disparate industries across the PIF portfolio.

During the forum, the fund introduced and outlined the PIF Way — the mechanism by which it aims to support and drive value creation alongside its portfolio companies, building on the PIF’s independent governance and operational framework.

The PIF Way aims to help businesses in supporting the development of an effective governance structure, identifying and supporting new sources of growth and profitability, leveraging the fund’s infrastructure, and making the most of the advantages offered by the PIF’s extensive local and global network of companies, thought leaders, investors and government stakeholders.


Doors to manual: Domestic flights ready to resume in Saudi Arabia

Updated 30 May 2020

Doors to manual: Domestic flights ready to resume in Saudi Arabia

  • Passengers urged to follow preventative measures

JEDDAH: The coronavirus pandemic 'nearly paralyzed’ the global transport sector, a Saudi government minister said Saturday, as the Kingdom prepared for domestic flights to resume on Sunday morning.

Around 100 flights are due to take off and things will soon be back to normal despite the disruption of the past few months, the Minister of Transport Eng. Saleh bin Nasser Al-Jasser said.

“The pandemic has nearly paralyzed the transport sector, except for the few repatriation flights that were ordered to bring some citizens from abroad and the flights that carried some expats to their countries,” the minister told Arab News as he reflected on the economic losses and sharp decline in movement due to the COVID-19 crisis.

The minister, who was inspecting the readiness of Terminal 1 at King Abdulaziz International Airport to welcome travelers, is also chairman of the General Authority of Civil Aviation (GACA). 

He said that the ministry was in close contact with other authorities - including airlines and the GACA - regarding updates about the coronavirus situation and providing all possible assistance to airline operators.

The minister was accompanied by GACA president, Abdul-Hadi bin Ahmed Al-Mansouri, and reviewed the precautionary measures in place to maintain the safety of people at all airports.

GACA has called on all travelers to follow the precautionary and preventive measures at airports and to follow health guidelines to prevent the spread of coronavirus. These include buying flights electronically and limiting airport entry to passengers only, with the exception of people accompanying the elderly or disabled.

GACA requires all travelers to go through thermal checkpoints before entering the terminal. Only passengers whose temperature is less than 38 degrees Celsius will be allowed on planes. The authority has also urged all passengers to wear face masks when entering airports and during flights, emphasizing that nobody will be allowed to board a plane without one.

It wants passengers to maintain a distance of two meters from others and to stand on guidance stickers placed on the terminal floor.

Passengers must arrive at the airport's departure hall two hours before the flight's departure time. They must sterilize their hands when entering the terminal and safely dispose of their face masks when leaving the terminal.

The authority has encouraged people to use electronic payment methods and says that passengers should not stow more than one piece of luggage in the aircraft’s overhead cabins.

It has requested passengers to report any suspected case of coronavirus.