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Saudi Arabia to Host World Economic Forum Meeting in April

'Saudi Arabia: The Course Ahead' panel in Davos on Thursday
'Saudi Arabia: The Course Ahead' panel in Davos on Thursday
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Saudi Arabia to Host World Economic Forum Meeting in April

'Saudi Arabia: The Course Ahead' panel in Davos on Thursday
'Saudi Arabia: The Course Ahead' panel in Davos on Thursday

Saudi Arabia will host a special World Economic Forum (WEF) meeting in April, Economy Minister Faisal Alibrahim said on Thursday.

The meeting, scheduled to take place from April 28-29, will focus on global collaboration, growth and energy, Alibrahim said in Davos, Switzerland, where the World Economic Forum's main annual event is currently taking place.

He spoke at “Saudi Arabia: The Course Ahead" panel.

"The (World Economic) Forum has recognized that the kingdom is becoming a stronger, more impactful leader on the global stage... and we found it as an opportune time to bring this global Tier 1 event to the kingdom, and start this new chapter together," Alibrahim later told Reuters in an interview.

"This will contribute to Riyadh becoming a more global platform," he said, adding the Saudi government had been in talks with the WEF for some time to host an event.

Hosting the WEF in Riyadh will not take away from the kingdom's flagship annual event, the Future Investment Initiative (FII), Alibrahim said.

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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.