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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

Libya’s Unity Gov. Urges Stronger Partnership with Saudi Arabia on Development Projects

Abdul Hamid Dbeibah during his meeting with members of the Saudi delegation (Dbeibah's Office)
Abdul Hamid Dbeibah during his meeting with members of the Saudi delegation (Dbeibah's Office)
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Libya’s Unity Gov. Urges Stronger Partnership with Saudi Arabia on Development Projects

Abdul Hamid Dbeibah during his meeting with members of the Saudi delegation (Dbeibah's Office)
Abdul Hamid Dbeibah during his meeting with members of the Saudi delegation (Dbeibah's Office)

Libya’s Government of National Unity has called for strengthening partnerships with Saudi Arabia in development projects.

The appeal came during a meeting on Thursday between Prime Minister Abdul Hamid Dbeibah and a high-level delegation from Saudi Arabia’s Amiantit Group.

The group is one of the world's leading companies in the manufacturing of pipes and tanks, offering innovative solutions for water management and infrastructure.

The meeting was also attended by a representative of Technical Link Services for Communications (TLS), a subsidiary of Etihad Salam Telecommunications, which specializes in communications and information technology solutions.

Discussions centered on strengthening Libyan-Saudi cooperation to advance infrastructure projects, stimulate investment in the industrial and agricultural sectors, and expand prospects for collaboration.

The meeting followed agreements with Libya’s Ministry of Housing and Construction on water infrastructure, specialized factories, and advanced water treatment solutions.

The agreements also included deals that aim to upgrade Libya’s communications infrastructure and modernize its IT and telecom services.

In January, on the sidelines of the World Economic Forum in Davos, Dbeibah had outlined Libya’s vision to strengthen cooperation with Gulf countries, particularly Saudi Arabia to attract international investment across various economic and development sectors.

He discussed with several Saudi officials ways to reinforce bilateral partnerships in oil, gas, and renewable energy, highlighting Saudi Arabia as a key partner in developing Libya’s oil infrastructure.

Gulf

Saudi-Emirati Team in Aden to Restore Calm in Eastern Yemen

A view of Yemen's interim capital Aden. (Reuters file)
A view of Yemen's interim capital Aden. (Reuters file)
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Saudi-Emirati Team in Aden to Restore Calm in Eastern Yemen

A view of Yemen's interim capital Aden. (Reuters file)
A view of Yemen's interim capital Aden. (Reuters file)

A Saudi-Emirati team arrived in Yemen’s interim capital Aden on an urgent mission to put in place executive mechanisms for the withdrawal of the Southern Transitional Council (STC) forces from the Hadhramaut and al-Mahra provinces and returning them under the control of previous forces under the direct supervision of the Saudi-led Arab coalition.

The team will discuss arrangements related to the handover of positions to the National Shield Forces to ensure that the situation returns to the way it was before the escalation.

The step is in line with Saudi Arabia’s intense efforts to end the escalation in eastern Yemen, in rejection of any unilateral measures taken by the STC in Hadhramaut, which the coalition viewed as an attempt to impose a new status quo or drag the province into internal strife that threatens peace and stability.

Sources told Asharq Al-Awsat that the arrival of the team consolidates Riyadh’s rejection of activities that may create mistrust or deepen the divisions inside Yemen’s legitimate institutions.

Gulf

UN Secretary General Visits Saudi Digital Government Authority's Innovation Hub in Riyadh

United Nations Secretary-General António Guterres meets with officials at the Innovation Hub of the Digital Government Authority (DGA) in Riyadh on Friday. (SPA)
United Nations Secretary-General António Guterres meets with officials at the Innovation Hub of the Digital Government Authority (DGA) in Riyadh on Friday. (SPA)
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UN Secretary General Visits Saudi Digital Government Authority's Innovation Hub in Riyadh

United Nations Secretary-General António Guterres meets with officials at the Innovation Hub of the Digital Government Authority (DGA) in Riyadh on Friday. (SPA)
United Nations Secretary-General António Guterres meets with officials at the Innovation Hub of the Digital Government Authority (DGA) in Riyadh on Friday. (SPA)

United Nations Secretary-General António Guterres and his accompanying delegation visited on Friday Saudi Arabia’s Innovation Hub of the Digital Government Authority (DGA) in Riyadh.

He met with DGA Governor Eng. Ahmed Alsuwaiyan. Saudi Arabia's Permanent Representative to the UN in New York Ambassador Dr. Abdulaziz Alwasil was also present during the visit.

The officials discussed issues of mutual interest, including digital government development, support for innovation, and the enhancement of sustainable digital transformation ecosystems. They reviewed the Kingdom's efforts in digital enablement to support the Sustainable Development Goals and improve government sector efficiency.

The meeting addressed avenues for cooperation between the DGA and UN organizations, particularly in knowledge exchange, the development of digital standards, the enablement of emerging technologies and artificial intelligence, the enhancement of digital capabilities, and the building of partnerships to improve the quality of digital services internationally.

Guterres was briefed on the DGA Innovation Hub, which houses a range of specialized laboratories and facilities, such as the Digital Inclusion Lab, Service Design Lab, Learning Experience Lab, and AI and Emerging Technologies Lab, along with other resources supporting innovation and the development of government digital solutions.

The DGA team presented an overview of the Kingdom's digital government strategy and progress in UN e-government development indicators, reflecting the maturity of the national digital experience and the advancement of the Kingdom's digital infrastructure.

Guterres commended the Kingdom's qualitative progress in digital government, stressing that the level achieved represents a leading international model and reflects a clear commitment to developing innovative and effective government services.

He emphasized the importance of strengthening cooperation to support initiatives that foster an advanced digital future in service of global development.