G20 finance chiefs to discuss global economy on Wednesday

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Updated 14 October 2020

G20 finance chiefs to discuss global economy on Wednesday

RIYADH: Finance ministers and central bank governors of the G20 countries will hold a meeting on Wednesday to discuss the global economy, negative risks, and policies to ensure a sustainable economic recovery. Saudi Finance Minister Mohammad Al-Jadaan and Dr. Ahmed Al-Khulaifi, governor of the Saudi Arabian Monetary Authority, will co-chair the meeting.
The finance chiefs will discuss ways to support the global economy during the coronavirus disease (COVID-19) pandemic. They will also review the progress made in the G20 initiative to suspend debt service payment and a proposal to extend the suspension to 2021.
The participants will also address structuring and regulatory issues related to the G20 financial sector to keep pace with rapid digital transformation. The G20 ministers will discuss the outlines of a fair, sustainable, and modern international taxation system. In this context, they will discuss challenges arising from the digitization of the economy and the resulting tax base erosion.


Saudi women get in the swing for golf glory

Though golf is a relatively new sport in the country, women have been encouraged to take up the game through new opportunities and support provided to them. (Supplied)
Updated 14 min 57 sec ago

Saudi women get in the swing for golf glory

  • Depending on location, players in the scheme will be designated as a Ladies First Member at either Riyadh Golf Club, Dirab Golf Club or King Abdullah Economic City’s Royal Greens Golf & Country Club

JEDDAH: Saudi women are breaking new barriers on the Kingdom’s golf greens, becoming acquainted with the sport and the benefits that come with it.
Though golf is a relatively new sport in the country, women have been encouraged to take up the game through new opportunities and support provided to them.
Golf continues to be a male-dominated sport. Despite women showing huge interest in the game, they are poorly represented in its ranks around the world.
A recently launched sporting initiative will allow women in the Kingdom to learn golf for free. The Aramco Saudi Ladies International, presented by the Public Investment Fund (PIF), is a first for the Kingdom. Another project, Golf Saudi’s innovative “Ladies First Club,” will offer complimentary membership, including golf lessons, driving range access and full 18-hole rounds on three different courses.
The offer is open to all Saudi women, with initial membership capped at 1,000. Sarah Al-Arifi, a 26-year-old Saudi entrepreneur, told Arab News that she was excited about the prospect of a Saudi female golf club. Even though the sport is perceived as male dominated globally, sports development is progressing rapidly in the Kingdom and is becoming inclusive, Al-Arifi said. She said the new projects will be “empowering.”
Al-Arifi highlighted the benefits of creating a community for every sport, not only golf, adding that from a consumer’s perspective, it promises to generate creativity.
“Having a community for a specific sport is not only important, it’s necessary because it drives competition and that’s much better for us as consumers. The obvious benefits of a community aside, as a consumer, I want there to be competition because it drives innovation and problem solving,” she said.
Depending on location, players in the scheme will be designated as a Ladies First Member at either Riyadh Golf Club, Dirab Golf Club or King Abdullah Economic City’s  Royal Greens Golf & Country Club.
The Ladies First Club will officially launch during a tournament buildup for the Aramco Saudi Ladies International presented by PIF.
It will take place between Nov. 12 and 15, two days before the Saudi Ladies Team International, which will see teams of four golfers compete for $500,000 in prize money from Nov. 17 to 19.