RIYADH: The 5th edition of the Future Investment Initiative (FII), Saudi Arabia’s flagship financial forum, will take place from Oct. 25th to 28th, Richard Attias, CEO of organizing body the FII Institute, confirmed.
“Yes, FII fifth edition will happen, in Inshallah, in October, it will be a full week 25,26,27,28 of October so save the date,” Attias said in a press conference in Riyadh ahead of the event, which starts today.
“We hope that the global health situation in the world will allow us to go back to thousands of delegates and friends who will come in person in Riyadh,” he added.
While the January 2021 event took place as a hybrid between live speakers in Riyadh and those attending virtually from hubs in New York, Paris, Beijing, and Mumbai, Attias stressed the importance of people gathering in person for the October conference, if conditions allow.
This year the fourth edition of FII is taking place in January after being postponed due to the pandemic. Adhering to strict health measures, hundreds of attendees and tens of speakers are physically attending the conference while hundreds of others are joining virtually.
The FII, which has become a fixture in the global investment calendar in the short time since its launch in 2017, has evolved from just an annual gathering to become a hub for building relationships.
In 2017, the participants were mainly from the Americas, Europe, and the Middle East. Today they come from Japan, China, India, and Russia and are all united in a spirit of collaboration.
The FII in its third session in 2019 brought together more than 250 ministers, CEOs, and industry experts to address issues ranging from sustainable development to the challenges in building an inclusive workplace.
FII Fifth edition to take place in October 2021
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FII Fifth edition to take place in October 2021
- This year the fourth edition of FII is taking place in January after being postponed due to the pandemic
- “Yes, FII fifth edition will happen, in Inshallah, in October, it will be a full week 25,26,27,28 of October so save the date,” Attias said in a press conference
Saudi POS stays above $4bn as Ramadan spending lifts outlays on home goods
RIYADH: Saudi point-of-sale transactions remained above $4 billion in the week ending Feb. 14, with spending on furniture and home supplies rising ahead of Ramadan, central bank data showed.
Overall POS activity totaled SR15.34 billion ($4.09 billion), representing a 4.8 percent week-on-week decrease, while the number of transactions dipped 1.6 percent to 252 million, according to the Saudi Central Bank.
Spending on furniture and home supplies rose 5.9 percent to SR697.35 million, marking the strongest weekly increase among major retail categories.
Expenditure on electronics increased 2.9 percent, while spending on construction and building materials rose 1.1 percent.
Sectors that saw declines includes freight transport and courier services, which posted a drop of 5 percent to SR64.86 million.
Pharmacy and medical supplies spending fell 8.2 percent to SR223.81 million, but outlays on medical services rose 5.7 percent to SR539.68 million.
Food and beverage expenditure decreased 4.3 percent, but the total spend of SR2.57 billion meant it retained the largest share of POS activity.
Restaurants and cafes followed with SR1.73 billion, despite a 4.7 percent decline. Apparel and clothing outlays represented the third-largest share of POS spending during the monitored week, up 0.5 percent to SR1.38 billion.
The Kingdom’s major urban centers mirrored the mixed national changes. Riyadh, which accounted for the largest share of total POS spending, saw a 3.4 percent drop to SR5.32 billion. The number of transactions in the capital reached 80.7 million, down 0.8 percent week on week.
In Jeddah, transaction values decreased 4.4 percent to SR2.12 billion, while Dammam reported a 3.3 percent decrease to SR746.29 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
