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Saudi Arabia Backs WTO Reform and Supports a Fair, Transparent Global Trading System at G20 Summit

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participates in the opening session of the G20 Leaders' Summit held in Johannesburg, Nov 22, 2025 - SPA
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participates in the opening session of the G20 Leaders' Summit held in Johannesburg, Nov 22, 2025 - SPA
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Saudi Arabia Backs WTO Reform and Supports a Fair, Transparent Global Trading System at G20 Summit

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participates in the opening session of the G20 Leaders' Summit held in Johannesburg, Nov 22, 2025 - SPA
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participates in the opening session of the G20 Leaders' Summit held in Johannesburg, Nov 22, 2025 - SPA

On behalf of Saudi Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah participated in the opening session of the G20 Leaders' Summit, held in Johannesburg, South Africa.

The event this year was held under the theme "Inclusive and Sustainable Economic Growth Leaving No One Behind: Building Our Economies; The Role of Trade; Financing for Development and the Debt Burden".

During the session, the Saudi minister delivered a speech in which he began by conveying the greetings of the Custodian of the Two Holy Mosques and the Crown Prince, along with their sincere wishes for the success of South Africa's Presidency, which is hosting the G20 meetings for the first time on the African continent.

He also expressed their support for the efforts of member states in strengthening economic cooperation and promoting sustainable development globally, SPA reported.

The minister affirmed the Kingdom's full support for efforts to reform the World Trade Organization and strengthen a fair and transparent multilateral trading system that enables countries to participate effectively in the global economy, stressing that international trade is a fundamental pillar of inclusive development and economic stability.

He highlighted the Kingdom of Saudi Arabia's efforts, in line with Saudi Vision 2030, to promote responsible investment, sustainable industrialization, and the efficient use of resources to support development.

The minister further called for aligning the G20's initiatives with the Sustainable Development Goals and addressing challenges related to food security, energy, climate, digital transformation, and the reduction of illicit financial flows through international cooperation grounded in shared responsibility.

The minister concluded his speech by emphasizing that global challenges transcend borders and require genuine international solidarity and multilateral cooperation to foster a more inclusive and sustainable global economy.

The session was attended by Minister of Finance Mohammed Aljadaan and Vice Minister of Finance and Saudi Sherpa for the G20 Abdulmuhsen Alkhalaf.

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Business

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership
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Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

The Saudi Venture Capital Company (SVC) announced on Sunday that Saudi Arabia’s venture capital ecosystem achieved two historic leaps in 2025, in terms of total investment value and number of transactions, further reinforcing the Kingdom’s position as the leading venture capital market in the Middle East for the third consecutive year.

This performance reflects the tangible impact of Saudi Vision 2030 and the structural economic transformation taking place across the Kingdom.

In a statement, the SVC said that the Saudi market recorded its highest-ever number of venture capital transactions, reaching 254 deals in 2025, alongside a record investment value of $1.66 billion during the year.

This compares to approximately $60 million in 2018, representing a 25-fold increase in venture capital investment since the establishment of SVC and the emergence of its role as a market maker within the ecosystem.

CEO and Board Member of SVC Dr. Nabeel Koshak said: “What we are witnessing today in Saudi Arabia’s venture capital sector is the direct result of the unlimited support provided by the Kingdom’s wise leadership across all sectors.”

“This support has been translated into a deliberate and well-calibrated economic transformation, moving private capital into a more mature and impactful phase. These figures reflect the strength of the Saudi economy, the clarity of national vision, and the growing confidence of investors, confirming that venture capital has become a core pillar of growth and economic diversification,” he added.

He stressed that the 25-fold growth in investment since 2018, together with the record-breaking figures for both investment value and deal volume, underscores the maturity of the Saudi venture capital market.

“Venture capital today is enabling the creation of scalable companies, generating high-quality jobs, and transforming innovation into sustainable economic value, fully aligned with the objectives of Saudi Vision 2030,” he said.

Business

Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
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Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)

Türkiye has reached a new long-term agreement to import a total of 33 bcm natural gas from Azerbaijan, Energy ‌Minister Alparslan ‌Bayraktar ‌said ⁠on Sunday in ‌a televised interview.

Under the deal, Türkiye will receive 2.25 billion cubic meters of ⁠gas per year ‌for 15 ‍years ‍from Azerbaijan's Absheron field, ‍totaling 33 billion cubic meters, Bayraktar said. Deliveries via pipeline are set to begin in ⁠2029.

He added that final negotiations were concluded on Friday and that the agreement was expected to be signed shortly.

Business

Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
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Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)

Saudi Arabia has approved its annual borrowing plan for the 2026 fiscal year, setting projected financing needs at about $58 billion as the Kingdom seeks to fund its budget deficit while maintaining long-term debt sustainability.

The plan was endorsed by Finance Minister Mohammed Al-Jadaan, who also chairs the board of the National Debt Management Center, following approval by the center’s board. It outlines key developments in public debt during 2025, initiatives to deepen the domestic debt market, and the financing strategy and guiding principles for 2026. It also includes the issuance calendar for the kingdom’s local riyal-denominated sukuk program for 2026.

According to the plan, total financing requirements for 2026 are estimated at around SAR 217 billion ($57.9 billion). These will be used to cover the projected budget deficit of about SAR 165 billion ($44 billion), as set out in the Ministry of Finance’s budget statement for the year, as well as the repayment of maturing debt principal amounting to roughly SAR 52 billion ($13.9 billion).

In a statement, the National Debt Management Center said the strategy prioritizes preserving public debt sustainability, expanding the investor base, and diversifying funding sources at home and abroad. This will be pursued through a combination of public and private channels, including the issuance of bonds and sukuk and the use of loans at competitive and reasonable costs.

The plan also points to an expanded use of alternative government financing tools, including project and infrastructure financing, and greater reliance on export credit agencies in 2026 and over the medium term. These measures will be implemented within carefully structured risk-management frameworks to support the Kingdom’s broader economic and fiscal objectives.