Arab Solutions to International Challenges at WEF in Jordan

WEF Logo at the Dead Sea, Jordan (EPA)
WEF Logo at the Dead Sea, Jordan (EPA)
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Arab Solutions to International Challenges at WEF in Jordan

WEF Logo at the Dead Sea, Jordan (EPA)
WEF Logo at the Dead Sea, Jordan (EPA)

The World Economic Forum on the Middle East and North Africa kicked off in the Dead Sea on Saturday, in the presence of more than 1,000 government, business, and civil society leaders from over 50 countries.

Held under the slogan of “Building New Platforms for Cooperation,” the meeting will discuss economic, technical, financial and social challenges associated with the Fourth Industrial Revolution.

Jordan’s King Abdullah II will launch the two-day forum, which will see on its first day addresses by Palestinian President Mahmoud Abbas and UN Secretary-General Antonio Guterres.

Mirek Dusek, Deputy Head of Centre for Geopolitical and Regional Affairs and Member of the Executive Committee at the WEF, said the forum would focus on four transformational imperatives: Shaping a new economic and social model for the region; promoting environmental stewardship in the Arab world; finding common ground in a multi-conceptual world; and embracing the Fourth Industrial Revolution in the Arab world.

In remarks to Asharq Al-Awsat, Dusek stressed that one of the Forum’s main concerns was to “enable countries to participate in keeping up with our technological era in a proactive way, enabling positive social, economic and political outcomes.”

“For this reason, over the last few years, the Forum has worked through our Regional Business Council in the Middle East and North Africa with private sector leaders to prepare young people for future jobs. We have received commitments from companies to rehabilitate and modernize the skills of more than one million people,” he noted.

He added that the region had good opportunities to contribute to shaping the future of the Fourth Industrial Revolution.

Dusek underlined the importance of collaboration with Saudi Arabia in this regard. He said the WEF was proud to work with various stakeholders in Saudi Arabia and was currently looking into a number of areas of cooperation, given the overall nature of the reform efforts currently underway in the Kingdom.



Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat
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Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat

Saudi Arabia's sovereign wealth fund PIF swung to a profit of 138.1 billion riyals ($36.81 billion) in 2023, it said on Monday.

Total revenues at the Public Investment Fund more than doubled to $88.5 billion last year from $44 billion in 2022, according to a regulatory filing.

The rise in revenues was driven by factors including an improvement in both investment and non-investment activities in sectors like banking, telecommunications and gaming, as well as increased dividends.