G20 Riyadh Summit Recommendations Highlight Women Empowerment

Women record overwhelming participation at G20 meetings chaired by Saudi Arabia (Photo: Mishaal Al-Qadeer)
Women record overwhelming participation at G20 meetings chaired by Saudi Arabia (Photo: Mishaal Al-Qadeer)
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G20 Riyadh Summit Recommendations Highlight Women Empowerment

Women record overwhelming participation at G20 meetings chaired by Saudi Arabia (Photo: Mishaal Al-Qadeer)
Women record overwhelming participation at G20 meetings chaired by Saudi Arabia (Photo: Mishaal Al-Qadeer)

The 2020 G20 Riyadh summit, under Saudi Arabia’s Presidency, has emphasized the importance of bridging the gender inequality gap and the need to empower women as a key enabler for economic recovery.

Leaders of G20 countries, in the forum’s final communique, admitted that women were gravely impacted by the aftermath of the coronavirus pandemic and said that they will spend efforts to ensure the gender inequality gap does not widen.

“As many women have been disproportionately affected by the crisis, we will work to ensure that the pandemic does not widen gender inequalities and 8 Leaders' Declaration G20 Riyadh Summit November 21 - 22, 2020 undermine the progress made in recent decades,” the final statement said.

“Recalling relevant UN declarations, processes, and calls to action to empower women and girls, we reaffirm the importance of women’s and girls’ empowerment as a cross-cutting issue in all aspects of our policies and recognize that women are a key driver of economic growth,” it added.

“We will continue to promote gender equality, as well as combat stereotypes, reduce pay gaps, and address the unequal distribution of unpaid work and care responsibilities between men and women.”

The leaders said they will step up their efforts towards achieving the Brisbane Goal to reduce the gap in labor force participation between men and women by 25 percent by 2025 along with improving the quality of women’s employment.

“We will take steps to remove the barriers to women’s economic participation and entrepreneurship,” the leaders said.

They also welcomed the commencement, under the Saudi Presidency, of the Private Sector Alliance for the Empowerment and Progression of Women’s Economic Representation (EMPOWER) for women’s advancement in leadership positions.

It is worth noting that women’s participation in G20 meetings under Saudi Presidency was the highest recorded with a whopping 33.7% of the total participants.

Women at G20 workshops this year contributed greatly to the most complex economic, social, and civil files. Working in teams and communication groups, women’s presence was essential in organizing more than 100 events.



Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
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Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)

Bahrain’s Investcorp, a leading global alternative investment firm, announced on Monday a major change in its executive leadership team, saying that co-CEO Hazem Ben-Gacem will leave after 30 years as the company embarks on a major management reshuffle in an effort to boost returns.

In a statement, Investcorp said co-CEO Rishi Kapoor had been appointed vice chairman and chief investment officer while Executive Chairman Mohammed Alardhi would assume additional responsibilities previously undertaken by the co-CEOs.

The group has more than $52 billion in assets under management and is known for taking luxury brands public.

Ben-Gacem will leave Investcorp effective Nov. 1, but will continue as vice chairman of investment unit Investcorp Capital, the company said.

As part of the shake-up, Investcorp said it had consolidated and organized its investment activities in three units.

Dave Tayeh is taking the helm of Private Equity and Private Equity like, Herb Myers and Mike O'Brien will be in charge of Real Assets, and Jeremy Ghose will lead the Credit business.

Yusef Al-Yusef will be leading the Global Distribution Platform.

Mohammed Alardhi, Executive Chairman at Investcorp, said: “As we increase our focus on leveraging the strength of our existing investment platform, we recognize it is the right time to broaden our executive leadership to support our future growth plans.”

“Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey,” he added.