Saudi Arabia’s National Development Fund signs partnership agreement with World Economic Forum

NDF’s Chief of Staff Khalid bin Ibrahim Shareef, and the WEF’s Head of Global Partner Development and Regional Business Strategy Alexandre Raffoul. (SPA)
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Updated 08 March 2024
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Saudi Arabia’s National Development Fund signs partnership agreement with World Economic Forum

  • Agreement with the WEF will involve promoting the NDF’s position in the global development finance arena

RIYADH: Saudi Arabia’s National Development Fund entered into a partnership agreement with the World Economic Forum on Thursday, the Saudi Press Agency reported.

The NDF, which was established in 2017, acts as an umbrella for 12 development funds and banks in Saudi Arabia.

Its primary role is to enhance their operational efficiency, encourage synergies, increase their contributions to the economy and society, and ensure the continuous provision of finance and development loans across diverse sectors.

The agreement with the WEF will involve promoting the NDF’s position in the global development finance arena and fostering collaboration with leading financial institutions to tackle challenges in the sector.

WEF’s network already includes institutions like the Islamic Development Bank, the African Development Bank, the World Bank Group, the China Development Bank, the Development Bank of Japan, and the Export-Import Bank of China, which will help facilitate the NDF’s access to best practices, policy development strategies, and avenues to amplify its economic influence.

The NDF will gain from engaging in the WEF’s extensive schedule of conferences, seminars, and workshops throughout the year, enhancing its exposure to cutting-edge information, research, and insights in various economic, business, and social domains, the SPA added.

This is expected to keep the NDF at the forefront of global economic trends and technological advances within the finance and economic sectors.

The agreement was signed by the NDF’s Chief of Staff Khalid bin Ibrahim Shareef, and the WEF’s Head of Global Partner Development and Regional Business Strategy Alexandre Raffoul.
 


Saudi foreign minister calls Algerian counterpart

Saudi Foreign Minister Prince Faisal bin Farhan called his Algerian counterpart Ahmed Attaf on Tuesday. (File/SPA/AFP)
Updated 20 sec ago
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Saudi foreign minister calls Algerian counterpart

  • The two officials discussed regional developments and exchanged views on them during the call

RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan called his Algerian counterpart Ahmed Attaf on Tuesday, Saudi Press Agency reported.

The two officials discussed regional developments and exchanged views on them during the call.


Arabic-speaking students gain access to world’s largest collection of music books

Updated 21 min 35 sec ago
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Arabic-speaking students gain access to world’s largest collection of music books

  • Sheet music, songbooks and instrument method books to be translated
  • New opportunities for musicians, teachers throughout the region

RIYADH: Arabic-speaking students will gain access to a significant collection of international sheet music, songbooks and instrument method books as part of a new agreement.

The Saudi Music Commission is partnering with Muse Group, owner of Hal Leonard — the world’s largest publisher of sheet music.

Along with Dar Nasher, the partnership will bring Hal Leonard’s material to a Saudi and wider Arabic-speaking audience, which the group said will create opportunities for musicians and teachers throughout the region.

Mo Chandi, COO of Muse Group, visited Riyadh to formalize the deal. “This partnership is about creating a connection between music education and cultural identity,” he said.

In an interview with Arab News, Chandi discussed the importance of cultural relevance in music education.

“Understanding music is not merely about technical skills; it’s also about appreciating the cultural context from which it arises. If you don’t understand certain pieces, you miss out on their cultural significance,” he added.

Chandi highlighted the Saudi Music Commission’s commitment to developing an Arabic-first set of books that translate the language and adapt content to resonate with local culture.

“Our goal is to ensure that young musicians can connect with their heritage while learning,” he added.

“We have an opportunity to elevate Arabic instruments to an international stage, ensuring they receive the recognition they deserve. The goal is to create an environment that fosters creativity and cultural growth.”

The significance of representation in music education is also a key focus for Chandi. “By showcasing Arabic instruments and music, children in Saudi Arabia will find relatable role models, inspiring them to pursue their musical interests while staying connected to their cultural roots,” he said.

The immediate focus of the partnership will be to translate Hal Leonard’s titles into Arabic and make them available in schools and libraries across the Kingdom.

“This effort will benefit students and enrich the broader music community by making quality educational resources widely accessible,” Chandi said.

He envisions a framework where children can explore music from an early age, cultivating their talents and potentially leading to a new generation of musicians from Saudi Arabia.

“We aim for a future where Saudi children can gain recognition on the global music stage,” he said. “Every child should have access to music education, as it can change their world.”


Saudi Red Crescent exhibits medical vehicles for pilgrimage services

Updated 35 min ago
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Saudi Red Crescent exhibits medical vehicles for pilgrimage services

  • Spider motorcycle is designed for rapid deployment in emergencies
  • A medical amphibious vehicle can transport 2 patients, has a continuous operational capacity of up to 19 hours

JEDDAH: The Saudi Red Crescent Authority is displaying advanced technology aimed at improving its services to pilgrims at the Hajj Conference and Exhibition in Jeddah.

The authority is introducing advanced 4x4 ambulances linked to control centers to enhance response times and medical services.

Another vehicle introduced by the authority is the Spider motorcycle, designed for rapid deployment in emergencies, particularly in crowded areas in Makkah and Madinah, the Saudi Press Agency reported.

The vehicle contains essential medical devices, such as oxygen cylinders and immobilization splints, to respond to emergencies like asthma attacks and cardiac arrests.

The authority also introduced an amphibious vehicle, the first in the Middle East, which can navigate rugged terrain, water and muddy areas, the SPA reported.

It can transport two patients and six additional people, and has a continuous operational capacity of up to 19 hours.

The Hajj Conference and Exhibition runs until Jan. 16.


Saudi aviation authority imposes $5m in fines in 2024

Updated 43 min 23 sec ago
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Saudi aviation authority imposes $5m in fines in 2024

  • Report detailed 111 violations by airlines for failing to adhere to instructions
  • 305 violations related to passenger rights protection led to fines exceeding SR14.4 million

RIYADH: The General Authority of Civil Aviation issued 542 fines totaling SR18.8 million ($5 million) in 2024 for violations of civil aviation law, its regulations, and authority instructions, the Saudi Press Agency reported.

The report detailed 111 violations by airlines for failing to adhere to instructions, including the advance passenger information system and time-slot compliance, resulting in fines of SR3.65 million. Nine other violations incurred fines of SR290,000.

Additionally, 305 violations related to passenger rights protection led to fines exceeding SR14.4 million. Licensed companies faced 17 violations for non-compliance with civil aviation regulations, amounting to fines of SR175,000.

Two companies were fined SR40,000 for breaching licensing provisions, SPA reported.

The report also highlighted 92 violations committed by individuals, including 15 for unpermitted drone use with fines of SR75,000, 74 for non-compliance with safety instructions and onboard misconduct with fines of SR79,200, and three for trespassing restricted airport areas with fines of SR3,000.

Six violations for unauthorized glider operations resulted in fines of SR155,000, SPA added.

The authority emphasized its commitment to transparency, regulatory enforcement, and enhancing passenger experiences and air transport services in the Kingdom.


Saudi Cabinet praises Riyadh ministerial meeting on Syria

Updated 14 January 2025
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Saudi Cabinet praises Riyadh ministerial meeting on Syria

RIYADH: The Saudi Cabinet on Tuesday praised the outcomes of a conference that gathered top European and Middle Eastern diplomats in the Saudi capital of Riyadh earlier this week to discuss Syria’s future. 

During the weekly meeting chaired by Saudi King Salman, the cabinet commended the broad international participation in the ministerial meetings held in Riyadh this week on Syria calling for easing sanctions on the country.

In addition, the cabinet statement said the Riyadh conference also discussed steps to support the Syrian people on the humanitarian and economic levels, and to provide aid as the country goes through a transitional period.  

 

 

The Cabinet also addressed the current developments on the regional and international arenas, and reiterated the Kingdom’s call on the international community to assume its responsibility to stop the ongoing Israeli violations of international laws and norms.

It also followed up on Saudi humanitarian efforts and contributions worldwide to alleviate the suffering of the needy and affected people.