SAMA Launches Twenty Riyal Banknote Marking Saudi Arabia’s Presidency of G20

The Twenty Saudi Riyal banknote, marking Saudi Arabia’s presidency of the G20 summit. (SAMA)
The Twenty Saudi Riyal banknote, marking Saudi Arabia’s presidency of the G20 summit. (SAMA)
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SAMA Launches Twenty Riyal Banknote Marking Saudi Arabia’s Presidency of G20

The Twenty Saudi Riyal banknote, marking Saudi Arabia’s presidency of the G20 summit. (SAMA)
The Twenty Saudi Riyal banknote, marking Saudi Arabia’s presidency of the G20 summit. (SAMA)

The Saudi Arabian Monetary Authority (SAMA) announced on Saturday its intention to release a Twenty Saudi Riyal banknote, marking Saudi Arabia's presidency of the G20 summit.

SAMA said the commemorative banknote is going to be put into circulation by Sunday, together with the other current banknotes as an official legal banknote.

SAMA revealed that this banknote was printed according to the latest standards in the field of banknote printing, as it is characterized by many technical specifications, high-quality security features and a distinctive design in purple color that highlights the artistic decorations inspired by the logo of G20.

The design of the new banknote carries the picture of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz on the front side with a slogan of Saudi Presidency of G20 in 3D design, added SAMA in a statement.

The back of the banknote carries a map of the world, depicting the G20 countries in a different color. Saudi Arabia’s map appears with emanated beams symbolizing the meeting venue of countries and the importance of the Kingdom as a source of civilization and economic hub.



BP Appoints Albert Manifold as Chairman amid Strategy Revamp

Vehicles drive past a BP petrol station in Liverpool, Britain, February 7, 2023. (Reuters)
Vehicles drive past a BP petrol station in Liverpool, Britain, February 7, 2023. (Reuters)
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BP Appoints Albert Manifold as Chairman amid Strategy Revamp

Vehicles drive past a BP petrol station in Liverpool, Britain, February 7, 2023. (Reuters)
Vehicles drive past a BP petrol station in Liverpool, Britain, February 7, 2023. (Reuters)

BP named Albert Manifold, the former boss of building materials producer CRH, as its new chairman on Monday, as it looks to address investor concerns about its strategy and weak share performance

Manifold, who has not previously held a senior position in the energy sector, will succeed Helge Lund from October as BP navigates a major strategy revamp under persistent takeover and break-up speculation, Reuters reported.

During his tenure at CRH, its shares soared nearly fivefold. "(Manifold's) impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee BP's next chapter," said Amanda Blanc, BP's senior independent director, who led the succession process on behalf of the board.

Under his 11-year stint as CEO of CRH, the Irish company reshaped its portfolio by buying and selling assets and moved its primary listing to New York in 2023.

BP's shares rose 0.5% to 402.05 pence in early London trading.

Norwegian national Lund, 62, who has been BP's chair since 2019, fell out of favor with investors after he backed ex-CEO Bernard Looney's ill-fated foray into renewables.

He was re-elected in April with sharply reduced support after coming under pressure from activist investor Elliott Management and criticism from climate-focused shareholders. BP said in April that Lund intends to exit the firm, "likely" in 2026.

Sam Laidlaw, the former chief executive of British Gas owner Centrica and Ken MacKenzie, retired chair of mining group BHP, were also reportedly approached to succeed Lund.