PRINCE KHALID AL-FAISAL, CHAIRMAN OF THE ARAB THOUGHT FOUNDATION, ANNOUNCED THAT THE FOUNDATION DECIDED TO ESTABLISH AN ARAB PRIZE BEARING THE NAME "ARAB INNOVATION PRIZE" AND COVERING SIX INNOVATION FIELDS: SCIENCE, TECHNOLOGY, ARTS, ECONOMICS MEDIA AND SOCIETY. HE ADDED THAT THE VALUE OF EACH FIELD'S PRIZE WILL BE 50,000 DOLLARS. PRINCE KHALID ALFAISAL MADE THE ANNOUNCEMENT DURING A PRESS CONFERENCE HE HELD HERE TODAY.