PIF Unveils Innovative Qiddiya Project Logo

The Qiddiya city logo.
The Qiddiya city logo.
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PIF Unveils Innovative Qiddiya Project Logo

The Qiddiya city logo.
The Qiddiya city logo.

The Saudi Public Investment Fund revealed the logo of the Qiddiya Project that plans to build the largest cultural, recreational and sports city in the Kingdom. The design of the innovative logo reflects the unique geography of the region where the city will be established.

The Qiddiya project was announced earlier this year.

The city will be constructed 40 kilometers away from central Riyadh in the Qiddiya region..

The design of the logo was inspired from the breathtaking Tuwaiq mountain range in the Qiddiya region that will overlook the city once it is complete. The lines of the logo reflect the abilities of the residents of the Kingdom and their vibrant colors represent the residents’ diverse capabilities and identities. The logo embodies the project’s goal of providing special recreational destination for Saudis where they will be able to unleash their talents in various fields.

The Qiddiya project highlights the heritage of the region and reflects the beauty of the location that will become an important landmark that will meet the demands of the Kingdom’s recreational, cultural and social needs.

Qiddiya city is one of the significant investment initiatives that provides a diverse number of recreational venues. It also supports the Saudi Vision 2030 that aims at diversifying the sources of national income, bolster the Kingdom’s economy and create job opportunities for the local youth.

Qiddiya city allows visitors to enjoy a number of recreational and educational activities through six main venues that include an amusement park, sports arenas, racing rings, water and snow games, gorgeous natural vistas and several cultural and heritage centers.

Construction of Qiddiya city is expected to begin in 2018 and the first phase of the city will be opened in 2022.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."