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Crown Prince: 4% of Aramco shares transferred to the Public Investment Fund

The Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs, and Chairman of the Board of Directors of the Investment Fund announced

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Crown Prince Mohammed bin Salman, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Board of Directors of the Public Investment Fund, announced that (4%) of the shares of Saudi Arabian Oil Company (Saudi Aramco) have been transferred to the Public Investment Fund.

Prince Mohammed bin Salman added that the transfer of these shares is part of the Kingdom’s long-term strategy aimed at supporting the restructuring of the national economy, in line with the Kingdom’s Vision 2030, and also contributes to supporting the Fund’s plans aimed at raising the size of its assets under management to about 4 trillion Saudi riyals by the end of 2025.

The transfer of Saudi Arabian Oil Company (Saudi Aramco) shares to the Public Investment Fund will contribute to strengthening the Fund’s strong financial position and high credit rating in the medium term, as the Fund’s financing plan relies on the value of assets and investment returns from assets under management.

The Crown Prince explained that the fund continues to achieve its strategy by maximizing its assets, launching new sectors, building strategic economic partnerships, and localizing technologies and knowledge. The fund also aims to inject up to one trillion Saudi riyals into new local projects by the end of 2025, and increase its contribution and that of its subsidiaries to local content to reach 60%, in addition to creating more direct and indirect jobs in the local labor market.

He also noted that the state remains the largest shareholder in Saudi Arabian Oil Company (Saudi Aramco) after the transfer process, owning more than (94%) of the company’s total shares.

The Crown Prince concluded his statement by saying that the Kingdom is proceeding with the implementation of its initiatives to complete the economic and financial reforms it has undertaken, and to implement economic transformation plans, and to provide more investment opportunities for development funds and the private sector, in order to contribute to achieving the goals of the Kingdom’s Vision 2030.

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Mosque bombing in Islamabad: 12 dead and dozens injured

Twelve people were killed and dozens injured in a suicide bombing that targeted a mosque in the Pakistani capital, Islamabad, during Friday prayers. Details of the attack and the security context are available here.

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Mosque bombing in Islamabad: 12 dead and dozens injured

The Pakistani capital, Islamabad, witnessed a horrific security incident on Friday, as Pakistani police announced that a suicide bomber blew himself up at the gate of a mosque packed with worshippers, resulting in a large number of casualties, both dead and wounded, in a rare security breach for the city, which is usually heavily fortified.

Details of the bloody attack

According to official statements and Reuters reports, the attacker attempted to enter the mosque during Friday prayers, but security personnel stopped him at the gate, prompting him to detonate the suicide vest he was wearing. Police confirmed at least 12 deaths in the initial count, with dozens more injured.

Pakistani police official Zafar Iqbal stated that the explosion occurred during peak prayer times, noting the difficulty in determining the final number of victims at the moment, saying: "I cannot give an exact number of dead at this moment, but there are victims," ​​suggesting that the toll could rise given the severity of some of the injuries.

Scenes from the scene of the event

Images from the bombing site conveyed tragic scenes, showing bloodied bodies scattered across the mosque floor and surrounding area, mingled with shards of glass and debris from the shattered gate. Panic gripped the surviving worshippers, while dozens of injured were seen lying in the mosque's outer courtyard receiving first aid. Ambulances rushed to the scene, transporting critical cases to nearby hospitals, which had declared a state of emergency.

The security context and the implications of the timing

This attack is particularly significant and dangerous given its location; Islamabad is the political and administrative center of the country and is usually subject to extremely strict security measures compared to other Pakistani provinces, which experience ongoing tensions. The success of a suicide bomber in reaching a religious gathering in the capital is a worrying indicator for security agencies and evidence of the ability of armed groups to penetrate the capital's security perimeter.

This bombing comes in the context of a marked escalation of armed violence in Pakistan in recent years, especially in border areas, but the shift of operations to the heart of the capital poses significant security challenges for the Pakistani government in reassuring citizens and diplomatic missions.

Historical background and similar precedents

No group has claimed responsibility for the attack as of the time of this report, but suspicion in such incidents often falls on armed groups active in the region. It is worth noting that the capital, Islamabad, witnessed a similar attack on November 11th, when a suicide bomber killed 12 people and injured 27 others. Pakistani authorities stated at the time that the perpetrator of that attack was an Afghan national.

This incident brings to mind a series of bombings that have targeted places of worship in Pakistan over the past decades, often aimed at inciting strife and internal instability, calling for local and regional cooperation to confront the renewed wave of violence.

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The Crown Prince receives a message from the President of the Maldives to strengthen relations

Crown Prince Mohammed bin Salman received a written message from the President of the Maldives concerning bilateral relations, which was received by the Deputy Foreign Minister during his meeting with the Maldivian Ambassador in Riyadh.

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The Crown Prince receives a message from the President of the Maldives to strengthen relations

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received a written message from His Excellency President Dr. Mohamed Moez, President of the Republic of Maldives, concerning ways to strengthen the strong bilateral relations between the two brotherly countries, and discussing prospects for joint cooperation in various fields.

The message was received on behalf of His Royal Highness the Crown Prince by His Excellency the Deputy Minister of Foreign Affairs, Engineer Waleed bin Abdulkarim Al-Khuraiji, during his reception today at the Ministry’s headquarters in Riyadh of the Ambassador of the Republic of Maldives to the Kingdom of Saudi Arabia, Mr. Ahmed Sarir.

During the reception, the distinguished bilateral relations between the Kingdom and the Maldives were reviewed, and ways to develop them in a manner that serves the interests of the two brotherly peoples were discussed, in addition to discussing a number of topics of common interest, and exchanging views on regional and international developments.

The depth of Saudi-Maldivian relations

This message comes within the framework of ongoing communication between the leaderships of the two countries, as the Kingdom of Saudi Arabia and the Republic of Maldives share close historical and fraternal relations based on commonalities in Islamic identity and mutual cooperation. The Kingdom is a strategic partner of the Maldives in numerous development projects. Over the past decades, the Saudi Fund for Development has contributed to financing many vital infrastructure projects in the Maldives, including airport development, housing projects, and the health sector, reflecting the Kingdom's commitment to supporting the stability and prosperity of its sister nations.

Prospects for future cooperation

This diplomatic engagement is particularly important in light of the Kingdom's Vision 2030, which seeks to expand international partnerships and enhance economic and investment cooperation. Given the Maldives' status as a global tourist destination and the Kingdom's focus on developing the tourism sector as a cornerstone of economic diversification, promising opportunities exist for the exchange of expertise and investments between the two countries. Furthermore, both nations play significant roles within the Organization of Islamic Cooperation, making political coordination between them vital for addressing the challenges facing the Muslim world.

The reception of the Maldivian ambassador by Engineer Waleed Al-Khuraiji confirms the Saudi Ministry of Foreign Affairs’ keenness to activate diplomatic communication channels and follow up on the outcomes of bilateral cooperation, in order to ensure the realization of the leadership’s aspirations in both countries towards greater integration and growth.

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The leadership offers condolences to the King of Jordan on the death of Ahmed Obeidat | Details of the telegram

The Custodian of the Two Holy Mosques and the Crown Prince sent two telegrams of condolence to the King of Jordan on the death of former Prime Minister Ahmed Obeidat, stressing the depth of fraternal relations and expressing their condolences to the Jordanian people.

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The leadership offers condolences to the King of Jordan on the death of Ahmed Obeidat | Details of the telegram
Saudi leadership offers condolences to the King of Jordan

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, sent two cables of condolence and sympathy to His Majesty King Abdullah II bin Al-Hussein, King of the Hashemite Kingdom of Jordan, on the death of the former Jordanian Prime Minister, Ahmed Obeidat, who passed away after a career full of giving in service to his country.

Details of the royal telegram

In their telegrams, the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince expressed their deepest condolences and sincere sympathy to His Majesty the King of Jordan, the family of the deceased, and the brotherly Jordanian people. The wise leadership prayed to God Almighty to bestow His mercy and forgiveness upon the deceased, grant him a place in Paradise, and grant his family patience and solace. They also prayed that God protect the Hashemite Kingdom of Jordan, its leadership, and its people from all harm and evil, affirming the Kingdom of Saudi Arabia's unwavering support for Jordan in all circumstances.

Ahmed Obeidat: A remarkable political and security career

The late Ahmed Obeidat, who passed away last Tuesday, was one of Jordan's most prominent statesmen of recent decades. He held sensitive and pivotal positions in the history of the Kingdom, serving as Prime Minister in the 1980s, and prior to that as Director of the General Intelligence Directorate and Minister of the Interior. Obeidat was known for his political and security acumen, and played a key role in drafting the Jordanian National Charter. He was also an active member of the Senate for several terms, making him a widely respected figure in political and social circles.

Funeral and mourning ceremonies

The funeral procession for the deceased took place in his hometown of Haritha, in the Irbid Governorate of northern Jordan, amidst a large official and public attendance reflecting the high esteem in which he was held. Mourners flocked from across Jordan to offer their condolences, recalling the deceased's virtues and patriotic stances.

The depth of Saudi-Jordanian relations

The condolences offered by the Saudi leadership reaffirm the deep-rooted fraternal and historical ties that bind the Kingdom of Saudi Arabia and the Hashemite Kingdom of Jordan. Relations between the two brotherly nations are characterized by continuous coordination and ongoing consultation on all issues, in addition to the strong social and familial bonds that unite their peoples, making their grief a shared sorrow in such tragic events.

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