French firm to design, mint new Saudi coins

Courtesy: (Monnaie de Paris)
Updated 13 June 2016

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.


First plane with aid from Saudi Arabia arrives in Lebanon

Updated 29 min 41 sec ago

First plane with aid from Saudi Arabia arrives in Lebanon

RIYADH: The first plane with aid from Saudi Arabia arrived in Lebanon on Friday for victims of Beirut’s port explosion, the King Salman Humanitarian Aid and Relief Centre (KSrelief) said.

Two planes departed from King Khalid International Airport on Friday carrying more than 120 tons of medical supplies, tents, shelter kits and food for those affected by the blast. A specialized team from the center to follow up and supervise the distribution operations were also on board the planes.

The aid aims to help victims overcome the effects of the explosion, said Abdullah Al-Rabeeah, Advisor to the Royal Court and Supervisor General of KSrelief.

Al-Rabeeah stated that the directive of King Salman embodies the established humanitarian values of the Saudi leadership, stressing that this assistance highlights the pivotal role of Saudi Arabia in providing humanitarian assistance to all people in need around the world with complete impartiality.