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Saudi PIF, Virgin Group Join Forces in Space-Linked Missions

The Crown Prince Says, during the Initiative for Future of Investment: the Will of the Saudi People, its Great Determination and Subtlety behind Pushing the Kingdom to New Horizons (SPA)
The Crown Prince Says, during the Initiative for Future of Investment: the Will of the Saudi People, its Great Determination and Subtlety behind Pushing the Kingdom to New Horizons (SPA)
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Saudi PIF, Virgin Group Join Forces in Space-Linked Missions

The Crown Prince Says, during the Initiative for Future of Investment: the Will of the Saudi People, its Great Determination and Subtlety behind Pushing the Kingdom to New Horizons (SPA)
The Crown Prince Says, during the Initiative for Future of Investment: the Will of the Saudi People, its Great Determination and Subtlety behind Pushing the Kingdom to New Horizons (SPA)

Saudi Arabia’s Public Investment Fund (PIF) and Virgin Group announced on Thursday a desire for forming a $1 billion partnership where PIF invests in Virgin Galactic, The Space Ship, and Virgin Orbit in addition to a possible $480 million for future investment in space services.

The investment was approved by PIF Chairman and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz and Virgin Group Founder Richard Branson, reported the Saudi Press Agency(SPA).

The partnership between PIF and Virgin Group represents an effective platform to enhance modern technologies in the Kingdom's plan towards developing a modern and diversified economy in line with the Vision 2030.

The Chairman of the PIF Board of Directors stated: "The partnership with Virgin Group reflects the Kingdom's steps towards our vision to develop a diversified and knowledge-based economy. The Kingdom's future is an innovation-based future which is jumped out at the Future Investment Initiative (FII) Forum. We will work with companies at the level of Virgin Group to make effective achievements in sectors and technologies that accelerate progress at the global level."

For his part, Richard Branson, Founder of Virgin Group, said: "We welcome the Kingdom of Saudi Arabia to be a new partner for us at Virgin Galactic, Space Ship, and Virgin Orbit under the leadership of the Crown Prince Mohammed bin Salman. We are now just months away from Virgin Galactic sending people into space and Virgin Orbit placing satellites around the Earth. This investment will enable us to develop the next generation of human spaceflight, more economic satellite launches and accelerate our programme for trans-continental point-to-point space travel."

The memorandum of understanding was signed by Yasir Othman Al-Rumayyan, Managing Director of the Public Investment Fund (PIF), and Managing Director of Virgin Group Patrick McCall.

In accordance with regulations, this investment entails that PIF owns a stake in Virgin Galactic, The Space Ship, and Virgin Orbit in addition to other shareholders, including Virgin Group and Aabar Investments PJSC.

The companies and PIF will cooperate to implement a roadmap, to be agreed upon, to develop the sector of space in the Kingdom in accordance with existing legislation.

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Gulf

Saudi Arabia, Arab and Islamic Countries Condemn Israel’s 'State Land' Decision in West Bank 

The West Bank village of al-Ram is pictured behind Israel's controversial separation barrier from the outskirts of Jerusalem on February 16, 2026. (AFP)
The West Bank village of al-Ram is pictured behind Israel's controversial separation barrier from the outskirts of Jerusalem on February 16, 2026. (AFP)
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Saudi Arabia, Arab and Islamic Countries Condemn Israel’s 'State Land' Decision in West Bank 

The West Bank village of al-Ram is pictured behind Israel's controversial separation barrier from the outskirts of Jerusalem on February 16, 2026. (AFP)
The West Bank village of al-Ram is pictured behind Israel's controversial separation barrier from the outskirts of Jerusalem on February 16, 2026. (AFP)

The foreign ministers of Saudi Arabia, Jordan, the United Arab Emirates, Qatar, Indonesia, Pakistan, Egypt, and Türkiye strongly condemned on Tuesday Israel's decision to designate lands in the occupied West Bank as so-called "state land".

They also slammed it for approving procedures for the registration and settlement of land ownership across extensive areas of the occupied West Bank for the first time since 1967.

They condemned the moves as “a grave escalation aimed at accelerating illegal settlement activity, land confiscation, entrenching Israeli control, and applying unlawful Israeli sovereignty over the Occupied Palestinian Territory and undermining the legitimate rights of the Palestinian people.”

These measures are “a flagrant violation of international law and international humanitarian law, particularly the Fourth Geneva Convention, as well as a violation of relevant United Nations Security Council resolutions, foremost among them Resolution 2334,” the FMs said in a statement.

“The decision also contradicts the advisory opinion issued by the International Court of Justice concerning the legal consequences arising from Israeli policies and practices in the Occupied Palestinian Territory, which underscored the illegality of measures intended to alter the legal, historical, and demographic status of the Occupied Palestinian Territory, the obligation to end the occupation, and the prohibition of the acquisition of territory by force,” they added.

“This step reflects an attempt to impose a new legal and administrative reality designed to consolidate control over the occupied land, thereby undermining the two-state solution, eroding the prospects for the establishment of an independent and viable Palestinian State, and jeopardizing the attainment of a just and comprehensive peace in the region,” they warned.

The foreign ministers reiterated their “categorical rejection of all unilateral measures aimed at altering the legal, demographic, and historical status of the Occupied Palestinian Territory.”

They stressed that such policies are “a dangerous escalation that will further heighten tensions and instability in the Occupied Palestinian Territory and the region as a whole.”

They called on the international community “to assume its responsibilities and take clear and decisive steps to halt these violations, ensure respect for international law, and safeguard the inalienable rights of the Palestinian people, foremost among them their right to self-determination, ending the occupation, and establishing their independent and sovereign State based on 1967 borders with East Jerusalem as its capital.”

Gulf

Saudi Hajj and Umrah Minister Inspects Ramadan Service Readiness at Two Holy Mosques 

Saudi Minister of Hajj and Umrah and Board Chairman of the General Authority for the Care of the Affairs of the Two Holy Mosques Tawfig Al-Rabiah during the inspection tour on Monday. (SPA)
Saudi Minister of Hajj and Umrah and Board Chairman of the General Authority for the Care of the Affairs of the Two Holy Mosques Tawfig Al-Rabiah during the inspection tour on Monday. (SPA)
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Saudi Hajj and Umrah Minister Inspects Ramadan Service Readiness at Two Holy Mosques 

Saudi Minister of Hajj and Umrah and Board Chairman of the General Authority for the Care of the Affairs of the Two Holy Mosques Tawfig Al-Rabiah during the inspection tour on Monday. (SPA)
Saudi Minister of Hajj and Umrah and Board Chairman of the General Authority for the Care of the Affairs of the Two Holy Mosques Tawfig Al-Rabiah during the inspection tour on Monday. (SPA)

Saudi Minister of Hajj and Umrah and Board Chairman of the General Authority for the Care of the Affairs of the Two Holy Mosques Tawfig Al-Rabiah carried out on Monday a field inspection tour to assess operational and service readiness for the holy fasting month of Ramadan at the Grand Mosque, Prophet’s Mosque, and several other service sites in the holy city of Makkah.

Accompanied by the authority’s CEO Eng. Ghazi Al-Shahrani, the tour included a review of field operations, crowd management plans, and the flow of Umrah performers and worshippers.

It addressed coordination and integration mechanisms among relevant entities, as part of ongoing efforts by the ministry, the authority, and partner organizations serving pilgrims.

Al-Rabiah stressed that these efforts are carried out in line with the directives of the Kingdom's leadership and reflect the country's commitment to caring for the Two Holy Mosques and their visitors.

The level of readiness and the services provided during Ramadan are part of ongoing development efforts and they support the objectives of the Pilgrim Experience Program, part of Saudi Vision 2030, which aims to boost the quality of services and the overall experience of pilgrims, he added.

Gulf

SDRPY, EU Sign Strategic Partnership to Improve Living Conditions in Yemen 

Officials are seen at the signing ceremony in Riyadh on Monday. (SPA)
Officials are seen at the signing ceremony in Riyadh on Monday. (SPA)
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SDRPY, EU Sign Strategic Partnership to Improve Living Conditions in Yemen 

Officials are seen at the signing ceremony in Riyadh on Monday. (SPA)
Officials are seen at the signing ceremony in Riyadh on Monday. (SPA)

The Saudi Development and Reconstruction Program for Yemen (SDRPY) and European Union announced on Monday the alignment of their efforts to improve livelihoods in Yemen.

These efforts focus on investment in economic recovery programs and reforms, job creation, strengthening state institutions, and boosting community resilience, including in the areas of food security, agriculture, electricity, water, and environmental sanitation.

Their strategic partnership is in line with efforts to strengthen international cooperation to support Yemen.

Supporting improved access to water in the Marib governorate is the first outcome of the strategic partnership.

The two parties signed in Riyadh an agreement with the SILA Foundation to implement a SAR9-million project, “Enhancing Water Security in Marib Governorate,” covering nine areas across the districts of Marib Al-Wadi, Marib City, and Harib. Over 350,000 people will benefit from the project.

The agreement reflects the parties’ commitment to joint action and continuous coordination to improve living conditions for all Yemenis.

The SDRPY and EU agreed to continue coordination and explore additional opportunities for cooperation in the water sector, as well as joint development projects and initiatives in other sectors.