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Jeddah: Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud has sent a cable of congratulations to South African President Cyril Ramaphosa on his country’s Freedom Day.

The Custodian of the Two Holy Mosques wished Ramaphosa continued good health and happiness, and the government and people of South Africa steady progress and prosperity.

Source: Saudi Press Agency

Riyadh: The Outer Edge Web 3 Innovation Forum convened at The Garage headquarters, organized by Animoca Brands and Edge Of companies, to explore the impacts of Web3 and artificial intelligence technologies on economic systems and society. The event welcomed the President of KACST, Dr. Munir bin Mahmoud Eldesuki, along with elite experts and specialists from around the world.

The decision to host the forum in Riyadh reflects the Kingdom’s technological advancement and its embrace of innovation industries, particularly in Web 3 applications, marking a new era for the World Wide Web.

In his opening remarks, Chairman of the Saudi ESports Federation Prince Faisal bin Bandar bin Sultan outlined the Kingdom’s ambition to become a global gaming and electronic sports hub. He emphasized the transformative potential of gaming as a platform for social cohesion, innovation, and empowerment, highlighting strategic initiatives such as the Esports World Cup scheduled for Riyadh next summer.

Vice President of KACST for
the Future Economics Sector Dr. Maryam Noah underscored KACST’s commitment to accelerating technological development. She mentioned the establishment of the Gaming and Immersive Technologies Institute and numerous local and international partnerships aimed at localizing technologies with significant economic impact.

CEO of The Garage Omar Al-Shabaan described the incubator as the largest in deep technologies in the region, supporting over 240 startup companies from 50 countries. He emphasized its role in fostering growth and sustainability for entrepreneurial ventures and providing an environment conducive to pioneering projects and ideas.

The Chairman of Animoca Brands, Yat Soi, introduced Web3 and its technologies, including blockchain, cryptocurrencies, electronic games, decentralized applications, and smart contracts. He articulated Web3’s vision of creating a more open, secure, and user-focused Internet, empowering individuals to have greater control over their data and digital interactions.

Direct
or of Web3 and Spatial Reality Portfolio at NEOM Naif Al-Rabeah discussed smart cities and NEOM’s role in adopting artificial intelligence applications. He emphasized the aim of building a Web3 ecosystem through infrastructure, applications, and regulatory frameworks to enable global innovators to develop cognitive solutions that redefine urban living.

General Manager of the Gaming and Immersive Technologies Institute at KACST Mohammad Hadhrawi highlighted the Kingdom’s potential to lead in gaming and e-sports, driven by youth and technology experts. He anticipated increased investments in digital infrastructure and predicted that the Kingdom would pioneer the integration of blockchain and artificial intelligence into gaming and e-sports.

The forum sessions, the first of their kind in the Kingdom and outside America, featured discussions on the future of Web 3 applications, artificial intelligence for business and smart cities, investment opportunities in blockchain gaming, artificial intelligence, and e-
sports. Participants also explored prospects for the digital economy, the future of financial services, digital art and brands, and the evolution of sports and entertainment.

Source: Saudi Press Agency

Riyadh: Minister of Economy and Planning Faisal bin Fadhil Alibrahim has emphasized that the World Economic Forum’s (WEF) special meeting in Riyadh presents a vital chance to reshape development strategies globally. This opportunity allows for a new approach to international cooperation, prioritizing overcoming differences and fostering mutual prosperity.

Alibrahim made this statement during the meeting’s initial press conference, joined by WEF President Borge Brende. The conference took place at the King Abdulaziz International Conference Center, leading up to the special meeting on April 28th and 29th. This year’s theme is “International Cooperation, Growth, and Energy for Development.”

Heads of state and government representatives from 92 nations will gather to discuss the challenges of worldwide economic instability, climate change, and technological disruption. Their objective is to discover fresh avenues for sustainable development while fostering greater collaboration among nations.

The meeting w
ill serve as an opportunity for Saudi Arabia to present Vision 2030 as a strategic plan for fostering innovation-led development and ensuring long-term sustainability.

Alibrahim stated that Saudi Arabia is ready to spearhead a progressive growth model centered on transformation, innovation, and sustainability. Our vision is to cultivate a flourishing economy driven by knowledge and innovation, fully harnessing the immense potential of our people.

The primary focus will be on crafting forward-thinking strategies to tackle climate change, economic volatility, and natural disasters.

The WEF’s upcoming special meeting is expected to generate new recommendations and guide nations towards increased collaboration in addressing global challenges. Its objective is to forge a more sustainable and prosperous future for all stakeholders involved.

Source: Saudi Press Agency

Riyadh: The Government of the Republic of Honduras has announced a visa exemption for Saudi Arabian citizens visiting Honduras for various purposes.

This news follows a meeting between Honduran Minister of Foreign Affairs Eduardo Enrique Reina García and Vice Minister of Foreign Affairs of the Kingdom of Saudi Arabia Eng. Waleed bin Abdulkarim El-Khereiji, which took place in Tegucigalpa.

The meeting focused on strengthening relations and promoting tourism between the two nations.

The announcement regarding the visa exemption was made by Deputy Minister of Foreign Affairs for Consular Affairs and Immigration for the Republic of Honduras Antonio Garcia via his account on the “X” platform.

Source: Saudi Press Agency

Riyadh: The Islamic Development Bank Group (IsDB Group) is holding its annual meetings here, from April 27 to 30, 2024, with a focus on multidimensional poverty as a critical challenge facing member countries.

The issue was addressed today, in the first day of the meetings, at a dialogue session titled “A Pathway to Prosperity: Multidimensional Poverty in IsDB Member Countries”.

Participants included IsDB Institute Acting Director General Dr. Sami Al-Suwailem, OECD Development Cooperation Director Maria del Pilar Gonzalo Gonzalo, UNDP Under-Secretary-General and Associate Administrator Haoliang Xu, Oxford Poverty and Human Development Initiative Director Professor Sabina Alkire, and Development Bank of Latin America and the Caribbean Resource Mobility and Global Alliances Manager Ignacio Hughes, who all emphasized the multifaceted nature of poverty.

Discussions highlighted poverty in education, health, income, and economic empowerment, and emphasized the need for comprehensive and integrated development
strategies. Discussants deemed collaboration among IsDB member states governments, international institutions, and civil society crucial to achieving sustainable development and prosperity.

Also stressed was the importance of well-coordinated policies and strategies, and participants advocated for effective resource allocation to address poverty in its many dimensions. They also saw community participation and empowering local structures to develop region-specific solutions essential to tackling poverty.

Also explored was the potential of individuals to provide solutions.

At the same time, participants deemed local data analysis, identification of needs through accurate information, and encouraging local participation as key tools in the fight against poverty.

For-profit Islamic finance as a means of sustainable financing to combat poverty and stimulate economic growth in member states was also discussed.

The session concluded by acknowledging the link between poverty and societal stability, with sp
eakers stressing that in order to achieve peace, poverty and its root causes need to be tackled and eliminated, development promoted, jobs created, education and healthcare improved, and human rights respected, since all this is critical to achieving peace, improving livelihoods, and fostering economic growth.

Source: Saudi Press Agency

Riyadh: Saudi House, an initiative for visitors to learn more about the Kingdom of Saudi Arabia’s transformation under Saudi Vision 2030, is coming to Riyadh. First established at the 54th Annual Meeting of The World Economic Forum at Davos-Klosters, in 2024, Saudi House will be hosted on the sidelines of the Kingdom’s first World Economic Forum Special Meeting.

Organized by the Saudi Ministry of Economy and Planning, and sponsored by Aramco, Saudi House will be open throughout the two days of the Special Meeting on 28 and 29 April, from 5pm to 10pm at VIA Riyadh.

Saudi House offers a unique opportunity on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development, for guests and delegates to interact and experience the innovation, culture and ambitions of the Kingdom through unique, immersive themed pavilions and activations hosted by Saudi entities that are key to the Kingdom’s transformation. The interactive pavilions and activations will showca
se cutting-edge technologies, sustainable practices and cultural exhibitions.

Themed pavilions and activations

Aramco’s pavilion will highlight the new-era of high-tech investments in the energy sector through a series of activations. The Saudi Green Initiative (SGI) will host the Sustainability Pavilion, where visitors can learn about Saudi Arabia’s whole-of-society climate action efforts and experience the progress being made to improve quality of life and protect the Kingdom’s natural beauty on the journey towards net zero by 2060.

The Research Development and Innovation Authority (RDIA) will take visitors through an immersive experience showcasing how cutting-edge advancements are empowering people, shaping sustainable futures and defining new frontiers at an innovation-themed pavilion.

Misk Foundation will host its Youth Majlis under the theme of ‘The Big Now: Boundless Impact’; showcasing youth aspirations and achievements in sustainability, innovation, and social impact. It will feature up-and-
coming Saudi youth across entrepreneurship, Art and Non-profit sectors while providing research-based insights on global youth. An exhibition on THE LINE by NEOM will introduce delegates to an interactive showcase, providing a glimpse into the vision and development progress of the city.

Source: Saudi Press Agency

Riyadh: The Islamic Development Bank (IsDB) has announced the approval of approximately $418 million to fund new development projects in member countries, as stated in a press release on Saturday.

During its 355th meeting chaired by IsDB President Dr. Muhammad Al Jasser, the board approved four projects focusing on socio-economic development and sustainability. This meeting took place today in Riyadh, Kingdom of Saudi Arabia, coinciding with the first day of the 2024 IsDB Group Annual Meetings and the Golden Jubilee marking the Bank’s 50th Anniversary.

As per the IsDB press release, Tajikistan will receive $150 million for the construction of the Rogun Hydropower Plant Project’s Lot-4 (Left Bank Structures). The project aims to provide clean, affordable, and reliable renewable electricity to meet the country’s growing domestic demand, enhance energy security, and facilitate commercialization through the regional power market.

Additionally, the IsDB board approved EUR60.57 million for the Root and Tuber/
Regional Cassava Value Chains Development Project in Benin. This project seeks to improve food security, economic growth, and household income through enhanced production, processing, marketing, and private sector involvement in the cassava, sweet potato, and yam value chains.

Similarly, Côte d’Ivoire secured EUR70.46 million in financing for its Root and Tuber/Regional Cassava Value Chains Development Project. This initiative aims to enhance food security, economic growth, and household incomes through improved cassava production, processing, marketing, and private sector engagement. It also targets the creation of employment opportunities, especially for women and youth, and the development of national and regional trade.

Furthermore, the board approved EUR120 million for the Trkiye Nakkas-Basaksehir Motorway Project, a component of the broader North Marmara Motorway government initiative. The primary objective of this project is to offer an alternative Bosphorus crossing, substantially reducing traffic
congestion, travel times, and greenhouse gas emissions.

The Islamic Development Bank Group reiterated its commitment to supporting member countries in achieving prosperity and Sustainable Development Goals while enhancing their resilience to future development challenges.

Source: Saudi Press Agency

Riyadh: Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud, the Islamic Development Bank (IsDB) Group, the AAA-rated premier multilateral development bank of the Global South, is hosting its 2024 Annual Meetings of the Board of Governors in Riyadh, Kingdom of Saudi Arabia, from April 27-30, 2024.

The event also coincides with the IsDB’s Golden Jubilee, marking 50 years of promoting socio-economic development in its 57 member countries. The theme, “Cherishing our Past, Charting our Future: Originality, Solidarity, and Prosperity,” underscores the bank’s legacy and future objectives.

Finance ministers, representatives from financial institutions, Islamic finance experts, the private sector, and NGOs are convening for the meetings. Leading media organizations have been invited to cover the event.

The agenda includes knowledge-sharing sessions, seminars, and press conferences focused on development, regional cooperation, and Islamic finance. Key highlights encompass t
he governors’ roundtable meeting, the 18th IsDB Global Forum on Islamic Finance, the IsDB Group 2024 Private Sector Forum, the Philanthropy Forum, and The Future Symposium.

Discussions will address urgent issues such as multidimensional poverty, South-South cooperation, and financing Sustainable Development Goals (SDGs). CEOs of IsDB entities will gather for a strategic session titled “Unlocking Economic Potential,” demonstrating the bank’s dedication to driving economic growth.

In addition to the main events, side meetings will be held, including gatherings of the Federation of Consultants and the Federation of Contractors from Islamic Countries.

Source: Saudi Press Agency

Riyadh: Jordanian Prime Minister Bisher Khasawneh and his accompanying delegation arrived today in Riyadh to participate in the World Economic Forum (WEF) Special Meeting on Global Collaboration, Growth, and Energy for Development, to be held on April 28 – 29.

Khasawneh was received at King Khalid International Airport by Vice Minister of Foreign Affairs Eng. Waleed El-Khereiji, Saudi Ambassador to Jordan Nayef bin Bandar Al-Sudairi, Jordanian Ambassador to Saudi Arabia Haitham Abu Alfoul, and other senior officials.

Source: Saudi Press Agency

Riyadh: Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah received a phone call today from Portuguese counterpart Paulo Rangel, with whom he discussed developments in the Gaza situation and efforts made in this regard.

Source: Saudi Press Agency

Jizan, The Border Guards’ land patrols in Al-Dayer governorate, Jazan Region, have apprehended nine Ethiopian nationals trying to smuggle 180 kilograms of khat. Initial legal procedures have been carried out, and the confiscated items have been transferred to the appropriate authority.

The security authorities call upon citizens and residents to report all information available about any activities related to drug smuggling or selling to the General Directorate of Narcotics Control by calling the numbers 911 for Makkah, Riyadh, and the Eastern Region, and 999 for the rest of the regions, or by email at 995@gdnc.gov.sa. All calls are treated confidentially.

Source: Saudi Press Agency

Riyadh: The efforts of the Kingdom, led by the General Directorate of Narcotics Control (GDNC), have played a crucial role in tracking and disrupting drug smuggling and the operations of international criminal networks. Recently, these efforts led to the interception of an attempt to smuggle 47 kilograms of cocaine concealed within a shipment of starch powder containers in Spain.

GDNC urges the public to report any information related to drug smuggling or trafficking by dialing 911 in Makkah, Riyadh, and the Eastern regions, and 999 in the rest of the Kingdom. Additionally, individuals can reach out to the General Directorate of Narcotics Control at 995 or via email at 995@gdnc.gov.sa. All reports will be handled with the utmost confidentiality.

GDNC remains committed to combating drug smuggling and distribution domestically, apprehending perpetrators, and ensuring they face legal consequences in accordance with regulations.

Source: Saudi Press Agency