PIF named world's most valuable sovereign fund brand for second straight year
The report showed that PIF's brand value reached $1.2 billion this year, an 11% increase from 2024, making it the fastest-growing brand among its global peers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
an hour ago
- Saudi Gazette
HR ministry proposes strict rules for advertising domestic labor services
Saudi Gazette report RIYADH — The Ministry of Human Resources and Social Development has proposed a set of regulations for advertising domestic labor services, aiming to protect workers' dignity, curb misleading promotions, and ensure transparency. The draft 'Regulations for Advertising Domestic Labor Services,' posted on the 'Istitlaa' public consultation platform, prohibits ads containing words or phrases that could undermine the dignity of foreign or domestic workers. It also bans false or misleading claims that could deceive customers, whether directly or indirectly. Under the proposed rules, the ministry's name or logos — as well as those of related platforms such as 'Musaned' or 'Ajeer' — cannot be used in advertisements. Ads must be in Arabic, though additional languages are allowed if the content matches the Arabic version. They must also display the licensed service provider's name, logo, registered trademark, and a statement confirming the service is provided by a licensed entity. The regulations prohibit showing individuals or using caricatures without their consent, and ban the posting of photos or videos of workers seeking job transfers on social media, allowing only résumés with the workers' approval. Group interviews are forbidden, with only individual interviews permitted, and ads may not discriminate based on nationality, religion, cost, or salary — for example, by using phrases like 'best nationality,' 'lowest salary,' or 'preferred religion.' The draft also forbids suggesting that workers bear any financial costs for service transfers or that intermediaries receive fees under any name outside the official payment channels. All payments must be processed exclusively through the Musaned platform, whether for recruitment mediation or service transfers. These rules would apply to recruitment agencies, labor service providers, advertisers, and all individuals or entities — citizens, residents, or businesses — advertising through any medium, including social media, marketing platforms, mobile messages, email, electronic apps, and roadside billboards. The ministry said the proposal seeks to establish clear standards for advertising content, reduce random and misleading ads, protect both consumers and workers, and reinforce compliance with Saudi labor laws governing domestic labor recruitment and services.
Leaders
11 hours ago
- Leaders
Industry Minister Inaugurates Expanded PepsiCo Plant in Dammam
Minister of Industry and Mineral Resources Bandar Alkhorayef officially inaugurated the expanded PepsiCo manufacturing facility in Dammam's Second Industrial City on Thursday. The ceremony was attended by Ahmed El Sheikh, President and General Manager for Middle East, North Africa, and Pakistan Foods at PepsiCo. Food Manufacturing Sector During the inauguration, Minister Alkhorayef emphasized the significance of PepsiCo's growth within Saudi Arabia's food manufacturing sector—a key focus area under the National Industrial Strategy. He reaffirmed the ministry's dedication to supporting the company's expansion by offering essential enablers for innovation, product development, and operational growth. These efforts aim to position Saudi Arabia as a regional leader in food production and exports. PepsiCo's Commitment to Kingdom Ahmed El Sheikh underscored Saudi Arabia's role as a vital growth hub for PepsiCo's regional and global operations. He also pointed to the Dammam facility expansion and the company's new regional headquarters as examples of PepsiCo's long-term investment in the Kingdom. Both initiatives reflect the company's alignment with national and regional economic priorities. Future Investment, Local Empowerment El Sheikh also shared PepsiCo's plans to further enhance its presence in Saudi Arabia. These include exploring new investment opportunities, supporting local agriculture, creating jobs, strengthening supply chains, and expanding exports. Currently, PepsiCo operates in 86 locations across the country and employs around 9,000 people. Moreover, at the Dammam facility, 84% of the workforce are Saudi nationals, and women make up approximately 22% of the total staff. Over the past eight years, PepsiCo has invested more than SAR 9 billion in the Kingdom. In 2023 alone, the company allocated SAR 300 million for the expansion and modernization of its Dammam plant, signaling its continued commitment to growth and innovation in Saudi Arabia. Related Topics : Saudi Arabia, Denmark Explore Investment Opportunities in Industry, Mining Kurt Westergaard, the Prophet Muhammad cartoonist from Denmark dies at 86. Saudi Foreign Minister: Two-State Solution is Basis for Peace, Security WHO Honors Saudi Arabia for Trans Fat-Free Food Products Short link : Post Views: 60
Asharq Al-Awsat
11 hours ago
- Asharq Al-Awsat
Lebanon's Finance Minister: No Sale of State Assets, But Strategic Partnerships Ahead
Lebanon is preparing to take a major step toward restoring financial stability by the end of this month, with Parliament expected to approve a draft law to restructure the banking sector. This legislation follows the adoption of the banking secrecy law and paves the way for tackling the long-delayed 'financial gap' law, a critical component in resolving Lebanon's severe economic, monetary, and financial crises. In an interview with Asharq Al-Awsat, Finance Minister Yassin Jaber emphasized that there is no justification for further delays. The government has already reorganized Lebanon's monetary institutions, enabling them to assess bank conditions, categorize depositors, and prepare comprehensive financial data required for the next steps. These measures will help fairly distribute losses estimated at around $73 billion. Jaber described the banking and financial reform process as the toughest challenge facing the government of Prime Minister Nawaf Salam, the first under President Joseph Aoun. These reforms coincide with critical efforts to resolve political challenges, including ending daily Israeli aggressions and consolidating state control over arms. The minister stressed the need to end a prolonged state of denial, which has fueled piecemeal responses to a deep-rooted crisis. Lebanon, he warned, risks being downgraded to a 'blacklisted' status globally if urgent reforms are not enacted. One of the government's top priorities, Jaber explained, is addressing the financial gap -larger than twice the GDP - by clarifying responsibilities for the losses, including the role of the Central Bank and commercial banks. The upcoming law will outline these responsibilities and enable better coordination among the Central Bank, its oversight bodies, and relevant stakeholders. Despite severe liquidity shortages, Lebanon will not sell its public assets, Jaber stated firmly. 'The country is not bankrupt,' he said, echoing assurances from both the President and Prime Minister. Instead, the focus will be on optimizing the use of state assets and attracting strategic partnerships, especially in electricity, telecommunications, ports, and other vital sectors, without resorting to privatization. Efforts are also underway to modernize public finance. The 2026 budget will include measures to boost revenues through tighter customs enforcement and more efficient tax collection. Jaber said ministries are contributing to a medium-term fiscal framework for 2026–2029 to better align spending with economic goals. Jaber concluded by reaffirming the government's commitment to transforming Lebanon from a debt-driven, consumption-based economy into a productive one centered on public-private partnership projects. He noted that the government is continuing to appoint regulatory authorities in key sectors that are attractive to investors - moves that will pave the way for strategic partnerships, not asset sales, as he emphasized once more. These partnerships aim to improve the quality of essential services at fair costs, particularly in electricity, telecommunications, air and sea transport, real estate, and other vital areas. Jaber also highlighted the importance of economic reforms in strengthening cooperation with international institutions such as the International Monetary Fund (IMF), the European Union, and the World Bank.
