RIYADH: Investment opportunities in Saudi Arabia amount to $6 trillion over the next 10 years, Crown Prince Mohammed bin Salman said on Wednesday.
Speaking at a strategic dialogue virtual event held by the World Economic Forum, the crown prince said $3 trillion of those investments would be in new projects as part of opportunities offered by the Vision 2030 reform program.
He said 85 percent of this huge economic program would be funded by the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF) and the Saudi private sector.
The remainder would be through stimulating foreign capital from both Gulf nations and countries around the world.
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Crown prince announces $6 trillion in investments in Saudi Arabia over 10 years
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Crown prince announces $6 trillion in investments in Saudi Arabia over 10 years
- $3 trillion investments would be in new projects as part of opportunities under Vision 2030 program
- 85 percent to be funded by Kingdom’s sovereign wealth fund, Public Investment Fund and Saudi private sector
Egypt-born Dina Powell McCormick appointed Meta president and vice chairman
- The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
- Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution
LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.
The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.
Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.
“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.
Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.
Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.
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