Saudi Public Investment Fund holds event to promote portfolio companies

The event brought together 75 companies and 200 individuals from PIF portfolio companies. (Shutterstock)
Updated 03 December 2019

Saudi Public Investment Fund holds event to promote portfolio companies

  • The PIF Way aims to help businesses in supporting the development of an effective governance structure

RIYADH: The Public Investment Fund (PIF) organized a Partners’ Forum on Monday as part of its efforts to support its portfolio companies as an active and engaged investor.

The event brought together 75 companies and 200 individuals from PIF portfolio companies working in a broad range of sectors.

Experts in digital disruption — including cybersecurity, artificial intelligence and data analytics — discussed future trends, and the risks and opportunities they create.

The forum also discussed the potential impact of technology on disparate industries across the PIF portfolio.

During the forum, the fund introduced and outlined the PIF Way — the mechanism by which it aims to support and drive value creation alongside its portfolio companies, building on the PIF’s independent governance and operational framework.

The PIF Way aims to help businesses in supporting the development of an effective governance structure, identifying and supporting new sources of growth and profitability, leveraging the fund’s infrastructure, and making the most of the advantages offered by the PIF’s extensive local and global network of companies, thought leaders, investors and government stakeholders.


Pilgrims perform last stoning ritual as socially distanced Hajj comes to a close

Updated 03 August 2020

Pilgrims perform last stoning ritual as socially distanced Hajj comes to a close

  • Pilgrims entered the Grand Mosque via designated doors and were required to follow marked paths to keep a safe distance between each other
  • Saudi authorities implemented strict precautions this year to ensure a safe Hajj season amid the coronavirus pandemic

JEDDAH: Pilgrims safely performed the last stoning ritual on Jamarat Bridge in Mina on Sunday before moving back to Makkah’s Grand Mosque to complete their Hajj with the last circumambulation of the Kaaba known as “Farewell Tawaf.”

The ritual is complete when worshippers walk seven times around the Kaaba, marking the end of the Hajj season.

Pilgrims entered the Grand Mosque via designated doors and were required to follow marked paths to keep a safe distance between each other.

Muslim pilgrims, clad in face masks due to the coronavirus pandemic, pray after throwing pebbles as part of Al-A'qabah at the Jamarat Bridge during the Hajj pilgrimage in Mina, near Makkah on Aug. 1, 2020. (AFP)

Meanwhile, the ministry confirmed that there have been no reports of coronavirus infections among pilgrims at the holy sites of Hajj on the fifth day of the pilgrimage.

Deputy Minister of Hajj and Umrah Dr. Abdulfattah bin Sulaiman Mashat said that after the Hajj rituals were over, the pilgrims would undergo a medical examination.

FASTFACT

279K

The total number of coronavirus cases in KSA reached 278,835.

Pilgrims underwent seven days of home isolation before they began their Hajj journey, and will again be under home isolation after Hajj is complete.

Saudi authorities implemented strict precautions this year to ensure a safe Hajj season. “There was a detailed plan for each step pilgrims take; the main focus was how to effectively apply medical precautions and preventive measures,” Mashat said.

“By taking all these preventive measures and great efforts, the Kingdom sends the message that human health is its top priority,” he said.

FASTFACT

240K

The total number of recoveries in the Kingdom reached 240,081

Bashir Fadlallah Al-Faeq, who is from the Central African Republic, expressed his gratitude at being able to participate in this year’s exceptional Hajj season. “I feel safe and confident with the amazing and wonderful preventive measures taken by the authorities to limit the spread of the pandemic.”

A handout picture provided by Saudi Press Agency (SPA), on July 31, 2020, shows Muslim pilgrims throwing pebbles as part of Al-A'qabah (stoning of the devil ritual) at the Jamarat Bridge during the Hajj pilgrimage in Mina, near Makkah on July 31, 2020. (AFP)

The Saudi Public Security confirmed that no one was able to enter the holy sites without permission, noting that more than 2,000 violators who attempted to infiltrate these areas were caught and legal action was taken against them.

Prince Abdul Aziz bin Saud bin Naif, minister of interior and chairman of the Hajj Supreme Committee, held a virtual meeting with the leaders of the security sectors on Sunday. He conveyed the greetings of King Salman and the crown prince to the security men and leaders of the security sectors participating in the Hajj mission this year, on the occasion of Eid Al-Adha.