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.



Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
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Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as US Treasury secretary, a key cabinet position with vast influence over economic, regulatory and international affairs.

"I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States," Trump said in a statement released on Truth Social. "Scott is widely respected as one of the world's foremost international investors and geopolitical and economic strategists."

Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs and extend and potentially expand the raft of tax cuts enacted during his first term, Reuters reported
The choice came after days of deliberations by Trump as he sorted through a shifting list of candidates. Bessent spent day after day at Trump's Mar-a-Lago home in Florida providing economic advice, sources said, a proximity to the president-elect that may have helped him prevail.
Other names that had been floated included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson had also been a leading candidate, but dropped out, while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department.
Bessent, who did not immediately respond to a request for comment, has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal.
The market's surge after Trump's election victory, he wrote, signaled investor expectations of "higher growth, lower volatility and inflation, and a revitalized economy for all Americans."
"Bessent has been on the side of less aggressive tariffs," said Oxford Economics' Ryan Sweet, adding that picking him makes the steep tariffs Trump proposed on the campaign trail less likely.
Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief. Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers.
Republican US Senator Lindsey Graham from South Carolina, Bessent's home state, said in a statement: "President Trump's economic agenda is in good hands with Scott Bessent. I look forward to working closely with Scott and President Trump to lower inflation and create the golden age of prosperity for the American people."