Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.



Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.