Saudi Fund for Development finances over $20bn global projects in 50 years — minister

Saudi Fund for Development finances over $20bn global projects in 50 years — minister
Saudi Minister of Tourism Ahmed Al-Khateeb is seen speaking during a ceremony to mark the 50th anniversary of SDF’s establishment in Riyadh. (SPA)
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Updated 02 September 2024
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Saudi Fund for Development finances over $20bn global projects in 50 years — minister

Saudi Fund for Development finances over $20bn global projects in 50 years — minister
  • SFD financed 77 health projects, including 325 medical facilities in 45 countries
  • Fund financed 230 projects in 71 countries in the transportation sector

RIYADH: Exceeding a total cost of $20 billion, the Saudi Fund for Development has financed 800 projects in more than 100 countries over the last 50 years, according to a top official.

Saudi Minister of Tourism Ahmed Al-Khateeb revealed that the institution has financed 77 health projects that resulted in 325 medical facilities in 45 countries with a capacity of more than 25,000 beds. Most notable of the initiatives was King Faisal Hospital in Rwanda, which carried out the first kidney transplant in the country. 

He was speaking during a ceremony held by the fund to mark the 50th anniversary of its establishment in the capital, Riyadh. 

Al-Khateeb, who is also the chairman of the fund’s board of directors, said SFD funded 84 education projects to establish 600 academic facilities benefiting more than 1 million students, according to a statement. 

This falls in line with the fund’s vision to be a comprehensive strategic partner that advances the sustainable economic development of the world’s least developed countries.

It also aligns with its mission to empower the stable economic development of countries in need by leveraging the Kingdom’s resources to provide financial, technical, and human support to meet the needs of its partners. 

During his speech, the minister said the fund also financed 230 projects in 71 countries in the transportation sector, including airports, roads, and ports. 

These initiatives include the Velana International Airport in the Maldives, initially established in 1978, along with its expansion project to boost capacity from 2 million to 8 million passengers, and King Fahd Road in Djibouti. Additionally, the fund has financed 230 oil projects in more than 70 countries.


Exhibition industry thriving amid digital revolution, says UFI chief

Kai Hattendorf, CEO of the Global Association of the Exhibition Industry, UFI. (AN photo)
Kai Hattendorf, CEO of the Global Association of the Exhibition Industry, UFI. (AN photo)
Updated 34 sec ago
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Exhibition industry thriving amid digital revolution, says UFI chief

Kai Hattendorf, CEO of the Global Association of the Exhibition Industry, UFI. (AN photo)

RIYADH: The global exhibition industry has proved its relevance as a cornerstone of business and societal growth, defying predictions it will become obsolete, according to the CEO of the Global Association of the Exhibition Industry, UFI.

During an interview with Arab News, Kai Hattendorf highlighted the importance of face-to-face interaction in an era dominated by digital connectivity. He said while technology continued to revolutionize how people connected, the booming exhibitions industry suggested the requirement for physical gatherings was stronger than ever.

Hattendorf pointed to the industry’s resilience against repeated claims that it would be overshadowed by advances like the internet, social media and even the metaverse.

“The more digital our environments become, the bigger the need to meet in person,” he said, emphasizing that digital tools alone could not replicate the authenticity of human connection.

Reflecting on the lessons of the pandemic, he said the inability of meeting physically underlined the value of in-person interactions and likened human relationships to a smartphone battery: “If you don’t recharge it, it stops working.”

The exhibition industry was also a powerful barometer of economic growth, thriving where markets were expanding, he added. Hattendorf identified the Middle East and Asia as key drivers of global growth, pointing to strengthening economies in the Gulf Cooperation Council and Asia-Pacific regions.

He said these areas not only contributed to economic progress, but also led innovation and societal development. Exhibitions and business events play a crucial role in these advancements, he added, acting as marketplaces and meeting points where industries could connect and collaborate.

The industry is not without challenges, with inflation, supply chain disruptions and geopolitical tensions presenting significant hurdles for organizers, but Hattendorf expressed confidence in the sector’s ability to adapt.

He also acknowledged the shift from globalization to regionalization in the exhibitions landscape. Rather than relying on a single global event, international organizers now manage portfolios of regional shows across multiple continents. This diversification not only mitigates risks but also creates a broader, more resilient growth model.

Through its adaptability and focus on fostering authentic human connections, the exhibition industry continues to evolve, said Hattendorf, serving as a vital enabler of economic and cultural exchange. Even in an increasingly digital world, the need for meaningful, face-to-face interactions will only grow stronger, he added.


Saudi minister of defense meets Jordan’s King Abdullah

Saudi minister of defense meets Jordan’s King Abdullah
Updated 20 min 57 sec ago
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Saudi minister of defense meets Jordan’s King Abdullah

Saudi minister of defense meets Jordan’s King Abdullah
  • Prince Khalid delivers greetings from King Salman, Crown Prince Mohammed bin Salman

RIYADH: Prince Khalid bin Salman, the Saudi minister of defense, met King Abdullah II of Jordan at Al-Husseiniya Palace in Amman on Sunday.

Prince Khalid delivered greetings from King Salman and Crown Prince Mohammed bin Salman to King Abdullah, and forwarded their wishes for more progress and prosperity in Jordan.

Prince Khalid and King Abdullah discussed relations between Saudi Arabia and Jordan and ways to achieve security and stability in the region, the Saudi Press Agency reported.

Nayef bin Bandar Al-Sudairi, the ambassador to Jordan and Palestine, and Hisham bin Abdulaziz bin Saif, the director general of the Minister of Defense’s office, attended the meeting from the Saudi side.

Alaa Batayneh, the director of King Abdullah’s office, and Moaz Abdulrahman Al-Zabi, director of the political affairs department at the Royal Hashemite Court, were also present at the meeting.


Saudi commission showcases heritage at Cairo exhibition

Saudi commission showcases heritage at Cairo exhibition
Updated 15 December 2024
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Saudi commission showcases heritage at Cairo exhibition

Saudi commission showcases heritage at Cairo exhibition

RIYADH: The Saudi Heritage Commission is participating in the “Our Heritage” exhibition, held in Cairo, Egypt, until Dec. 21, with a pavilion showcasing a diverse range of handcrafted products that reflect Saudi cultural identity.

Saudi artists from various regions are also presenting live demonstrations of their crafts, the Saudi Press Agency reported.

Egyptian Prime Minister Mostafa Madbouly inaugurated the exhibition on Dec. 12 and visited the different pavilions, including that of the Heritage Commission, where officials presented an overview of the activities and products offered by Saudi artisans.

Madbouly said that the exhibition is an important platform for displaying and marketing unique artisanal products and highlighting the cultural heritage of participating countries.


Noor Riyadh light festival shines with 2 new Guinness World Records

Noor Riyadh light festival shines with 2 new Guinness World Records
Updated 15 December 2024
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Noor Riyadh light festival shines with 2 new Guinness World Records

Noor Riyadh light festival shines with 2 new Guinness World Records

RIYADH: The Noor Riyadh light festival has set new Guinness World Records for the fourth consecutive year, bringing the total to 16 record-breaking achievements, the Saudi Press Agency reported on Sunday.

One of the two new records is for the Longest Distance Covered by a Laser Light in a Laser Show. UK artist Chris Levine’s Higher Power set the record with a 1 kW laser projected from the 267-meter Al-Faisaliah Tower.

The installation featured four beams extending across Riyadh, visible even against the city lights. The laser encoded “Salaam” (meaning “peace” in Arabic) in Morse code, reflecting Levine’s philosophy of light as a medium for spiritual connection, unity and reflection.

Levine, known for his work with light and sound, has exhibited at institutions like MoMA in New York City. His immersive installations, including Light is Love at this year’s festival, merge technology with emotional and sensory experiences, redefining light’s role in contemporary art.

The other record was for the Largest Illuminated Recyclable Material Sculpture of a Pyramid.

The Fifth Pyramid, by Saudi artist Rashed Al-Shashai, set the record with a 28-meter-high structure made from sustainable materials, including scaffolding and green petrochemical shipping pallets.

The pyramid features a striking fuchsia-lit central walkway, symbolizing Saudi Arabia’s transformation into a hub of creativity and innovation.

Al-Shashai’s work often reimagines everyday objects to explore cultural and societal themes. With more than two decades of experience as an artist and educator, his work has been showcased internationally, including at the Giza pyramid complex and Art Dubai, solidifying his place in contemporary Saudi art.

Architect Khalid Al-Hazani, director of the Riyadh Art program, said: “Achieving two more Guinness World Records at Noor Riyadh is a testament to the transformative power of art and creativity. We are proud to see Noor Riyadh continuing to inspire and unite people through the universal language of light.”

Festival director Nouf Al-Moneef said: “The scale and creativity of this festival are unparalleled, and these records underscore its global significance as a landmark event in the world of contemporary art. This achievement highlights Riyadh’s position as a global cultural hub and reflects the incredible talent and dedication of the artists and curators who brought this vision to life.”

Curated by Effat Abdullah Fadag and Alfredo Cramerotti, Noor Riyadh took place at three hubs this year: King Abdulaziz Historical Center, JAX District and Wadi Hanifah, from Nov. 28 to Dec. 14.

The fourth edition featured more than 60 artworks by over 60 artists from 18 countries, transforming the city into a vibrant, open-air gallery that attracted millions of visitors.


Saudi project clears 1,654 Houthi mines in Yemen

Saudi project clears 1,654 Houthi mines in Yemen
Updated 15 December 2024
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Saudi project clears 1,654 Houthi mines in Yemen

Saudi project clears 1,654 Houthi mines in Yemen

RIYADH: Members of Saudi Arabia’s Project Masam removed 1,654 explosive devices from various regions of Yemen last week.

The total included seven anti-personnel mines, 104 anti-tank mines, 1,534 unexploded ordnances and nine explosive devices, according to a recent report.

Ousama Al-Gosaibi, the initiative’s managing director, said a total of 472,688 mines had been cleared since its inception in 2018.

The explosives were planted indiscriminately and posed a threat to civilians, including children, women and the elderly.

The demining operations took place in Marib, Aden, Jouf, Shabwa, Taiz, Hodeidah, Lahij, Sanaa, Al-Bayda, Al-Dhale and Saada.

The initiative trains local demining engineers and provides them with modern equipment. It also offers support to Yemenis injured by the devices.

Teams are tasked with clearing villages, roads and schools to facilitate safe movement for civilians and the delivery of humanitarian aid.

About 5 million people have been forced to flee their homes since the start of the conflict in Yemen, many of them displaced by the presence of land mines.