Who’s Who: Abdullah Bakhraibah, CEO of Arab Investment Co.

Who’s Who: Abdullah Bakhraibah, CEO of Arab Investment Co.
Abdullah Bakhraibah
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Updated 04 September 2024
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Who’s Who: Abdullah Bakhraibah, CEO of Arab Investment Co.

Who’s Who: Abdullah Bakhraibah, CEO of Arab Investment Co.

Abdullah Bakhraibah is CEO of the Arab Investment Co. as of August 2024.

The Arab Investment Co., a pan-Arab financial institution established in 1974, is owned by the governments of 17 Arab countries.

Bakhraibah’s experience of over 16 years in finance and investment, both locally and globally, makes him a valuable asset to the company.

In this role, he will lead the company in building and developing its business and achieving its new strategic objectives.

His most recent position was CEO and board member of State Street Saudi Arabia Financial Solutions, a Capital Market Authority-licensed subsidiary of State Street Corp., one of the world’s largest global financial institutions.

During his tenure, he spearheaded the opening of their office in the Kingdom, expanded their business presence, launched local portfolio management, and endorsed local partnerships.

He served as a member of CMA’s Capital Market Institutions Committee in 2020 for two years.

Prior to that, Bakhraibah served as head of business and products development at Ashmore Investment Saudi Arabia from 2019 to mid-2020 where he chaired the board of Ashmore’s investment funds and Tazah Limited Co.

From 2015 to 2018, he was head of sales in Saudi Arabia for Gulf International Bank (UK) and GIB Capital where he led the business development and represented GIB Capital’s debt capital market team in the issuance of $12.5 billion bonds with the National Debt Management Center at the Saudi Ministry of Finance in 2017.

Bakhraibah’s professional journey also includes various roles at SAB, including structured derivatives and treasury risk advisory from 2008 to 2015. He began his career at SAB as a money market and investment dealer in the treasury department in 2008.

Bakhraibah earned a master’s degree in business administration from the London Business School in 2020 and a bachelor’s degree in management information systems from the King Fahd University of Petroleum and Minerals in 2008.


KSrelief provides shelter, winter clothing in Lebanon, Somalia

KSrelief provides shelter, winter clothing in Lebanon, Somalia
Updated 30 min 25 sec ago
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KSrelief provides shelter, winter clothing in Lebanon, Somalia

KSrelief provides shelter, winter clothing in Lebanon, Somalia

RIYADH: Saudi aid agency KSrelief has distributed shelter and winter clothing to displaced people in Lebanon and Somalia, reported the Saudi Press Agency.

Orphans and those with special needs in Lebanon’s Akkar Governorate received vouchers to purchase winter clothes from approved stores.

The beneficiaries also included Syrian refugees and vulnerable members of the host community.

In Somalia, 920 shelter kits, 80 tents and 1,000 clothing kits benefited 6,000 displaced people in several camps in the Banaadir region as part of a project aiming to provide 7,600 shelter and clothing kits and 215 tents in the area.

Both initiatives are part of the ongoing humanitarian assistance provided by KSrelief to countries and people in need around the world.


Saudi foreign minister meets with US Secretary of State at Brazil G20

Saudi foreign minister meets with US Secretary of State at Brazil G20
Updated 19 November 2024
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Saudi foreign minister meets with US Secretary of State at Brazil G20

Saudi foreign minister meets with US Secretary of State at Brazil G20

RIO DE JANEIRO: Saudi Foreign Minister Prince Faisal bin Farhan met with US Secretary of State Antony Blinken on the sidelines of the G20 Summit in Rio de Janeiro, Brazil.
During the meeting, they discussed bilateral relations, developments in the Middle East, and the efforts being made in these regards.
The meeting was attended by the Director-General of the Office of the Foreign Minister Abdulrahman Aldawood.


Saudi Arabia FM calls for peace, addresses global challenges at G20 Summit opening

Saudi Arabia FM calls for peace, addresses global challenges at G20 Summit opening
Updated 19 November 2024
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Saudi Arabia FM calls for peace, addresses global challenges at G20 Summit opening

Saudi Arabia FM calls for peace, addresses global challenges at G20 Summit opening
  • Prince Faisal bin Farhan leads Kingdom’s delegation on behalf of crown prince 

RIO DE JANEIRO: Saudi Foreign Minister Prince Faisal bin Farhan led the Kingdom’s delegation at the first session of the G20 Summit in Rio de Janeiro, which opened on Monday.

Prince Faisal, who is leading the delegation on behalf of Crown Prince Mohammed bin Salman, spoke at the summit’s opening session which was called “Social Inclusion and Combating Hunger and Poverty.”

Prince Faisal highlighted pressing global challenges, noting that increasing tensions, military conflicts, and humanitarian crises were significant obstacles to achieving the UN’s Sustainable Development Goals for 2030, adding: “Development and prosperity cannot be achieved on the ruins of death and destruction.”

Moving on to the ongoing crises in the Middle East, Prince Faisal pointed to Israeli military actions in Gaza and Lebanon, describing them as sources of severe human suffering and catalysts which were pushing the region toward broader conflict.

He said: “The ongoing Israeli aggression in Gaza and Lebanon has caused unprecedented levels of human suffering; is pushing the region to the brink of a wider war … and is undermining the credibility of international law and institutions.”

Prince Faisal reiterated Saudi Arabia’s commitment to peace, stating the Kingdom’s unwavering stance on the need for an immediate ceasefire in Gaza; unrestricted access to humanitarian assistance; the release of hostages; and a serious commitment to lasting peace based on the two-state solution according to the 1967 borders, the Saudi Press Agency reported.

The minister also addressed the situation in Sudan, expressing concern over the severe human toll due to the conflict, and obstacles preventing the delivery of humanitarian aid to affected communities.

In addition to political challenges, Prince Faisal commended Brazil’s initiative in launching the International Alliance Against Hunger and Poverty, which aligns with Saudi Arabia’s development and humanitarian objectives. He announced the Kingdom’s participation in the alliance, which resonates with its long-standing global efforts.

He said: “The Kingdom is pleased to be part of this alliance that is in line with its development goals and its global role in this regard, which is expressed by the programs of the King Salman Center for Relief and Humanitarian Aid (and) the Saudi Fund for Development, in addition to its global contributions to the programs of the International Monetary Fund and the World Bank to support developing countries.”

The Kingdom’s delegation included Minister of Finance Mohammed Al-Jadaan, Deputy Minister of Finance (Saudi Sherpa for the G20) Abdul Mohsen bin Saad Al-Khalaf, and Ambassador to Brazil Faisal bin Ibrahim Ghulam.

The G20 Summit in Brazil serves as a platform for the world’s leading economies to address global challenges and promote collective solutions aimed at fostering sustainable development and social equity.

On the sidelines of the summit, Prince Faisal met with US Secretary of State Antony Blinken. During their meeting they discussed US-Saudi relations, as well as regional developments and the efforts made in this regard.


Saudi defense minister meets governor of US State of Indiana

Saudi defense minister meets governor of US State of Indiana
Updated 18 November 2024
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Saudi defense minister meets governor of US State of Indiana

Saudi defense minister meets governor of US State of Indiana
  • The two discussed bilateral ties and other issues of common interest

RIYADH: Saudi Minister of Defense Prince Khalid bin Salman met with Governor of the US state of Indiana Eric Holcomb in Riyadh on Monday.

During the meeting, the two discussed bilateral ties and other issues of common interest, the Defense Ministry said in a statement.

Saudi Deputy Minister of Defense Prince Abdulrahman bin Ayyaf and Chief of Staff Gen. Fayyad bin Hamed Al-Ruwaili were among the Saudi officials present.

Commander-in-Chief of the Indiana National Guard Maj. Gen. Roger Lyles and head of the US Military Training Mission in the Kingdom Col. Dirk Smith were among the US officials present.

 


Misk City, Samsung Saudi Arabia to collaborate in smart city technology

Misk City, Samsung Saudi Arabia to collaborate in smart city technology
Updated 18 November 2024
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Misk City, Samsung Saudi Arabia to collaborate in smart city technology

Misk City, Samsung Saudi Arabia to collaborate in smart city technology
  • Partnership forms part of vision to create ‘integrated system that supports innovation and creativity among Saudi youth’

RIYADH: Mohammed bin Salman Nonprofit City, which is also known as Misk City, on Monday signed a memorandum of understanding with the tech giant Samsung Electronics to cooperate in the sectors of smart city technology, sustainability, and youth empowerment.

Misk City’s CEO David Henry signed the memorandum with the President of Samsung Electronics Saudi Arabia Hendrick Lee, on the sidelines of the Misk Global Forum in Riyadh, which finishes on Tuesday.

Henry said that the partnership with Samsung “represents an important step in line with Misk City’s strategic vision of creating an integrated system that supports innovation and creativity among Saudi youth,” the Saudi Press Agency reported.

He stressed the importance of working with Samsung “to create a vibrant and innovative environment that presents a unique model for smart cities.” 

Lee said that Samsung’s “cooperation with Misk City represents our unified commitment to leading innovation and sustainability with the aim of developing transformative solutions that enhance urban life and empower future generations in the field of technology, which benefits our communities.” 

The two parties will also collaborate on developing training programs specifically designed to hone the skills of Saudi’s youth to help enhance smart city experiences. These programs will later be hosted and delivered in Misk City, the SPA added.

Samsung Electronics is also considering setting up a showroom in Misk City to showcase its latest artificial intelligence-powered smart technologies, providing visitors with a firsthand experience of smart homes and understanding of future innovations.