GCC Says All Elements of Cooperation Available to Deepen Economic Ties with Georgia

Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC
Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC
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GCC Says All Elements of Cooperation Available to Deepen Economic Ties with Georgia

Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC
Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC

Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi affirmed that all elements of cooperation are available to deepen the economic and trade relations between the GCC countries and Georgia, paving the way for the signing of a free-trade agreement between the two sides.

His remarks came during a meeting with Georgia’s Deputy Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili on the sidelines of the 4th Tbilisi Silk Road Forum, held on Thursday in Tbilisi.

The secretary general stated that during the meeting, ways to develop the economic and commercial relations between the GCC countries and Georgia were discussed.

Davitashvili pointed out the noticeable development in Georgian-GCC relations over the past two years, expressing his wishes for further progress in all fields.



Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat
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Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat

Saudi Arabia's sovereign wealth fund PIF swung to a profit of 138.1 billion riyals ($36.81 billion) in 2023, it said on Monday.

Total revenues at the Public Investment Fund more than doubled to $88.5 billion last year from $44 billion in 2022, according to a regulatory filing.

The rise in revenues was driven by factors including an improvement in both investment and non-investment activities in sectors like banking, telecommunications and gaming, as well as increased dividends.