Tag: RIYADH

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Riyadh To Host Meet on Gaza

Saudi Arabia’s Investment Minister Khalid Al-Falih indicated the imminent arrangement of both an emergency Arab summit in Riyadh and an Islamic summit in the coming days…reports Asian Lite News

Saudi Arabia is all set to facilitate diplomatic discussions by hosting key summits involving Arab and Islamic nations to address an ongoing Israel-Hamas conflict, according to Khalid Al-Falih, the Kingdom’s investment minister.

Speaking at the Bloomberg New Economy Forum in Singapore, Al-Falih indicated the imminent arrangement of both an emergency Arab summit in Riyadh and an Islamic summit in the coming days. These discussions align with an earlier announced meeting by the Organisation of Islamic Cooperation (OIC) set to take place to address the conflict on Sunday.

However, a statement from the Saudi Ministry of Foreign Affairs on Tuesday detailed the postponement of a third meeting initially planned for the weekend, bringing together leaders from the Arab League and the African Union.

This delay aims to prioritize the focus on the other two summits, which are part of Saudi Arabia’s leadership objective to steer these diplomatic gatherings toward a peaceful resolution of the conflict, as expressed by Al-Falih.

Additionally, Iranian President Ebrahim Raisi is anticipated to participate in the OIC summit hosted in Saudi Arabia, according to reports by Etemadonline news. Al-Falih also mentioned plans for a summit involving African nations, yet a specific date for this gathering was not disclosed. These efforts demonstrate a concentrated and multilateral approach towards seeking resolutions and fostering dialogue among nations affected by the conflict.

Jordan rejects talks on post-war Gaza plans

Jordanian Foreign Minister Ayman Safadi has declined any potential talks on post-conflict scenarios in Gaza, describing such discourse as “unrealistic and unacceptable,” the media reported.

He made the remarks on Wednesday during a seminar attended by journalists and writers in the capital Amman, where he reaffirmed Jordan’s priority of calling for an immediate ceasefire in the Gaza Strip, Xinhua news agency reported.

Safadi stressed on Jordan’s unwavering position against any “fragmented solutions” to the Gaza crisis.

He warned that dealing with issues in Gaza separately from that in the West Bank would “play into Israel’s hands,” which could potentially undermine the Palestinian cause and the Palestinians’ aspirations for statehood.

The Minister called for a comprehensive approach to the Palestinian cause, advocating for a political and just peace that ensures Palestinian rights and the establishment of their sovereign state based on the two-state solution.

Safadi reiterated the kingdom’s firm rejection of any forced displacement of Palestinians from their lands, equating it to “declaring war against Jordan that would be forcefully countered”.

40K People Moved to Southern Gaza

 The UN Relief Works Agency (UNRWA) said that since the Israel Defence Forces (IDF) created periodic evacuation “corridors” earlier this month, at least 40,000 people have walked from northern Gaza to the besieged enclave’s southern regions.

The IDF has repeatedly called on civilians to move south of Wadi Gaza — a waterway bisecting the center of the enclave — as it intensifies its assault on Hamas in Gaza City and northern Gaza.

The UNRWA said that UN monitors and NGOs are providing water and biscuits to evacuees just south of the Wadi Gaza.

For a fifth consecutive day on Wednesday, the Israeli military opened the “corridor” along the main traffic artery, Salah Ad Deen Road, for residents to leave the north between 10 a.m. and 2 p.m., which was then extended by an hour, as people were still moving southwards.

It is estimated that about 50,000 people evacuated during the day, the largest number since the corridor opened, bringing the estimated figure since November 5 to 72,000.

Most evacuees move on foot and those who use vehicles leave them at the southern edge of Gaza city at the Al Kuwaiti roundabout.

The evacuees then walk 4-5 km down the corridor, with an estimated distance of up to 20 km for those traveling farthest, according to the UNRWA.   

Since the war broke out on October 7, about 1.5 million people in Gaza have been internally displaced, according to the UN agency.

Of them, nearly 725,000 are sheltering in 149 UNRWA facilities; 122,000 in hospitals, churches and public buildings; 131,134 in 94 non-UNRWA schools, and the remainder with host families. 

ALSO READ: UAE Expedites Gaza Hospital Construction

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Lite Blogs Saudi Arabia UAE News

Indian Embassy Celebrates Sanskritotsava in Riyadh

Ambassador Suhel Ajaz Khan, in his opening address, underscored the profound cultural significance of Sanskrit…reports Asian Lite News

The Embassy of India in Riyadh hosted a unique and culturally significant event titled “Samskritotsava” on November 5 as part of “Pravasi Parichay,” celebrating the timeless elegance of the Sanskrit language and acknowledging the efforts of the Indian community in preserving this linguistic treasure in Saudi Arabia.

The event was a one-of-a-kind occasion, conducted entirely in Sanskrit, paying homage to the language that embodies India’s ancient wisdom, civilization, history, and traditions. The Indian Embassy in Saudi Arabia proudly announced this distinctive celebration, a collaboration with Samskrita Bharati, to promote and honor the rich heritage of Sanskrit.

Ambassador Suhel Ajaz Khan, in his opening address, underscored the profound cultural significance of Sanskrit. He emphasized its revered status worldwide as a sacred and spiritual language and highlighted the event’s potential to inspire others to learn and practice Sanskrit.

The “Samskritotsava” featured a variety of performances by the Indian community in Saudi Arabia, all eloquently presented in Sanskrit. The program included Abhinaya Gheetam, Gana Geetam, Subhashita Natakam, Prachanna Vesham, and more, offering a captivating glimpse into the versatility and cultural richness of the language.

Indian Prime Minister Narendra Modi, a fervent supporter of ancient Indian languages, including Sanskrit, recently emphasized the importance of this language. He described Sanskrit as not only a repository of traditions but also as a language that defines India’s progress and identity. During his address at Tulsi Peeth in Madhya Pradesh’s Chitrakoot on October 27, PM Modi stressed that Sanskrit has been the mother of several languages and has stood the test of time, remaining untainted by the passage of centuries.

ALSO READ-Goyal Commends Indian Businesses in Riyadh

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-Top News Arab News Saudi Arabia

Goyal Commends Indian Businesses in Riyadh

Goyal praised the significant contribution of Indian businesses to strengthening the relations between India and Saudi Arabia….reports Asian Lite News

The Future Investment Initiative (FII) Institute’s 7th Edition, themed “The New Compass,” took place in Riyadh, Saudi Arabia. The event has attracted global investors, business leaders, policymakers, inventors, and explorers who gathered to explore new markets and navigate uncharted economic territories.

During the event, Minister of Commerce and Industry, Piyush Goyal, took the opportunity to meet with Indian business leaders based in Saudi Arabia.

Goyal praised the significant contribution of Indian businesses to strengthening the relations between India and Saudi Arabia.

Currently, more than 2800 Indian companies are registered and operating in the Kingdom of Saudi Arabia, reflecting the close economic ties between the two nations.

Earlier on Wednesday, Union Minister Piyush Goyal met his Saudi counterpart Majid bin Abdullah Alkassabi and discussed how the robust India-Saudi trade ties can be further scaled to make global supply chains more resilient.

The Future Investment Initiative (FII) Institute has designed ‘The New Compass’ program as an interactive platform to assist investors in evaluating their company’s pathways and their roles in shaping the global economy.

The program aims to help participants develop new strategies for understanding the significant challenges and opportunities of this evolving era.

The FII, now in its 7th Edition, continues to be a magnet for leading investors and influential figures from the global business landscape.

The event serves as a forum to facilitate discussions on emerging markets and the exploration of new frontiers for economic growth and prosperity.

The 7th Edition of FII in Riyadh presents a unique opportunity for visionaries and leaders to forge alliances and develop innovative approaches to navigate the evolving global business landscape.

The FII 7th Edition in Riyadh is a testament to the ongoing commitment of nations and businesses worldwide to adapt and thrive in a rapidly changing economic environment.

The event took place from October 24 to October 26, fostering collaboration, partnership building, and the exploration of new opportunities in the global economy. (ANI)

ALSO READ: UN Appoints Al Olama to Top AI Advisory Body

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-Top News Arab News Saudi Arabia

KSrelief chief meets Belgium envoy in Riyadh

The ambassador praised Saudi Arabia’s efforts in humanitarian work and developing its mechanisms internationally…reports Asian Lite News

Dr. Abdullah bin Abdulaziz Al-Rabeeah, Royal Court adviser and supervisor general of the King Salman Humanitarian Aid and Relief Center, met the ambassador of Belgium to Saudi Arabia, Pascal Gregoire, at the center’s headquarters in Riyadh on Sunday.

They discussed issues of common interest related to the humanitarian field and ways to strengthen them that would serve all groups in need.

The ambassador praised Saudi Arabia’s efforts in humanitarian work and developing its mechanisms internationally.

ALSO READ-Yemen leader in Riyadh for talks on economic support

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UAE News

Yemen leader in Riyadh for talks on economic support

Other items for discussion were other Saudi pledges such as a gas-fired power station in Aden, the UN-brokered truce with the Houthis, and other political and military issues…reports Asian Lite News

The head of Yemen’s Presidential Leadership Council, Rashad Al-Alimi, on Saturday touched down in Riyadh on a private visit where he is expected to meet Saudi officials, the official Saba news agency reported.

Al-Alimi will discuss Saudi Arabia’s economic support to the council and its humanitarian interventions in Yemen.

He thanked the Saudi leadership for its support to the Yemeni people and the council and its continued efforts to return peace and stability to the country and alleviate the suffering of Yemenis.

An aide to Al-Alimi told Arab News that the president would meet senior Saudi officials to accelerate the distribution of a Saudi and UAE $3 billion financial package to the government.

Other items for discussion were other Saudi pledges such as a gas-fired power station in Aden, the UN-brokered truce with the Houthis, and other political and military issues.

“Reviving the economy is the (council’s) main challenge,” said the aide, who preferred to remain anonymous.

Before arriving in Riyadh, the Yemeni leader visited the UAE. He discussed supporting the council and his efforts to stabilize liberated areas and boost the economy with Emirati officials.

The visit takes place as the Yemeni currency plunges to a new record low of YER1,200 against the US dollar, increasing the prices of food, fuel, and transport.

The council is also facing growing public criticism for not addressing intensifying power cuts, mainly in hot and humid cities such as Aden and Al-Mukalla.

Al-Alimi leads an eight-member council that has ruled the country since April, when former President Abed Rabbo Mansour Hadi ceded power to the council and assigned it to engage in talks with the Iran-backed Houthis to end the war.

Last week, dozens of soldiers died in bloody infighting among different military units in the government-controlled southern province of Shabwa.

The council dismissed the security leaders involved in the infighting and formed a military committee to defuse tension.

ALSO READ-UAE welcomes extension of truce in Yemen

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Arab News Business Saudi Arabia

Riyadh to host first in-person Euromoney Conference in September

Steered by Saudi Vision 2030 — an ambitious blueprint for economic and social reform — the Kingdom has set about bolstering its prospects by transforming the national economy…reports Asian Lite News

The Saudi Ministry of Finance and the Financial Sector Conference have joined forces with Euromoney to host the first in-person Euromoney Saudi Arabia Conference since 2019. Taking place on Wednesday 7 September in Riyadh, the event will be focused on “The Institutionalisation of Investment and Finance”.

Held under the patronage of H.E. Mr Mohammed Al-Jadaan, the Minister of Finance of the Kingdom of Saudi Arabia, the conference has been launched to bring Saudi and international industry experts, thought-leaders, and policy makers to discuss the latest trends in regional and global financial markets.

With Saudi Arabia now recognized as a burgeoning global hub of innovation and investment, the event provides a unique platform and timely opportunity to explore the Kingdom’s road to recovery — in the wake of COVID-19 — new economic initiatives and their impact on the country, wider region and world.

Steered by Saudi Vision 2030 — an ambitious blueprint for economic and social reform — the Kingdom has set about bolstering its prospects by transforming the national economy. As part of this commitment, Vision 2030 aims to create an environment that unlocks business opportunities, broadens the country’s economic base, and creates jobs for all Saudis. The Kingdom has already made significant progress towards accomplishing these goals, leveraging its unique location and potential to attract more international talent and global investment.

This year’s Euromoney Conference will spotlight these developments and map out further steps that can be taken to fully realise the Kingdom’s potential. The opening keynote address will be delivered by H.E. Mr Mohammed Al-Jadaan, who will be joined by an impressive line-up of distinguished local and international speakers.

This lineup includes: HE Mr Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, Kingdom of Saudi Arabia; HE Mr Mohammed El-Kuwaiz, Chairman, Capital Market Authority; Yousef Abdullah Al Shelash, Chairman, Dar Al Arkan Real Estate Development Company; Abdullah Alrashoud, Chief Executive Officer, BLOMINVEST Saudi Arabia; Hani Baothman, Chairman, Sidra Capital; and Faisal Durrani, Partner – Head of Middle East Research, Knight Frank; Fabrice Susini, Chief Executive Officer, Saudi Real Estate Refinance Company; Ronit Ghose, Global Head, Future of Finance, Citi; Paul Wilson, Chief Investment Officer, Channel Capital; Nabeel Koshak, Chief Executive Officer and Board Member, Saudi Venture Capital Company (SVC) will also be speaking at the event.

The lead sponsors of the conference are Citi; Dar Al Arkan Real Estate Development; Gulf International Bank; Riyad Bank; Standard Chartered and The Financial Academy. The Capital Market Authority is the event Supporting Body. Real estate advisory services will be provided by Colliers. The conference’s co-sponsors are: Alkhair Capital; BLOMInvest; Kamco Invest and Saudi Real Estate Refinance Company. Knight Frank has been announced as the event’s knowledge partner, Derayah Financial is an associate sponsor and Argaam as its digital sponsor. Sidra Capital will serve as an exhibitor.

For more information, to view the agenda, and to apply for your place, please visit the Euromoney Conferences website.

ALSO READ-Riyadh To Reform Aviation Sector

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Arab News

DCO announces stc as official DCO observer

The Digital Cooperation Organization (DCO) has announced Saudi Telecommunications Company (stc) as an official DCO observer, an historic moment as stc becomes the first telecommunications company to join the DCO…reports Asian Lite News

The announcement headlined the inaugural Mobile 360 Riyadh event, which also featured a ground-breaking MoU between global telecommunications body the GSM Association (GSMA) and the DCO.

The stc observer and GSMA Memorandum of Understanding signings come on World Telecommunications Day, celebrated globally on 17 May, and represent significant steps forward in the global movement to create digital prosperity for all. The partnerships will focus on expanding access to telecommunications technologies and upskilling youth, entrepreneurs and young people youth and entrepreneurs so they can prosper in the digital economy.

The DCO is a global multilateral organization established to enable digital prosperity for all, with a focus on digital economy initiatives supporting youth, entrepreneurs, and women. TThe DCO has rapidly expanded to now represent more than 600 million people across nine-member state countries.

stc, a leading digital champion across the region and key enabler of Saudi Arabia’s Vision 2030, will support entrepreneurs, young people and women to connect the internet and digital economy through the partnership, including by providing insights across DCO member states.

Commenting on the stc observer announcement, DCO Secretary-General, Deemah AlYahya said: “Our telecommunications industry is a driving force of the global digital economy, providing the means for people to connect, learn and thrive online. The DCO is leading the way in connecting telecommunications organizations and leaders to forge the solutions of tomorrow for our youth, women, and entrepreneurs. On World Telecommunications Day it is fitting that we join forces with stc, a world-leading telecommunications organization, and with the global telecommunications association GSMA. We look forward to working with both organizations to create digital prosperity for all.”

Commenting on the partnership, stc Group CEO, Olayan Mohammed Alwetiad said: “At stc, we are always seeking to establish new ways to bridge the digital divide for all our users, and we are proud to be an official observer of the Digital Cooperation Organization. The DCO and its member states have made significant strides in raising awareness for the inclusive growth of the digital economy, and will provide a global platform for stc to connect further hearts and minds to the digital economy.”

The Memorandum of Understanding signed between the DCO and GSMA will provide DCO member states with access to GSMA’s Capacity Building online learning portal, providing high-quality training and resources to policymakers and regulators of the DCO.

ALSO READ: Stc Bahrain secures ‘Most Innovative use of 5G Technology’

GSMA Director General Mr. Mats Granryd commented on the Memorandum of Understanding signing and event, stating:

“GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our partnership with the DCO reflects the power of both organizations to enable and empower people through digital and telecommunications technologies. We look forward to creating a significant impact with the DCO and further supporting DCO member states.”

The inaugural Mobile 360 event held in Riyadh between 17-18 May features telecom pioneers and stakeholders to discuss the growth of the Middle East’s digital economy, as part of a global series of events hosted by GSMA.

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Arab News

Riyadh To Reform Aviation Sector

Saudi Minister of Transport and Logistics Saleh bin Nasser Al-Jasser revealed that the kingdom will enhance its investments in the transport and logistics sector by more than 100 billion U.S. dollars.

Saudi Arabia’s authority of civil aviation announced Monday its initiative to prepare a framework that would make international traveling easier. The initiative aims to unify procedures to ease work associated with international travel through establishing one digital source that provides the latest information and developments, and identifies the entry requirements for all participating countries, according to the General Authority of Civil Aviation (GACA) of Saudi Arabia.

The initiative was highlighted during the opening of the three-day Future Aviation Forum, which is organized by GACA.

GACA President Abdulaziz bin Abdullah Al-Duailej noted that the pandemic has revealed the low level of coordination among countries.

At the forum, Saudi Minister of Transport and Logistics Saleh bin Nasser Al-Jasser revealed that the kingdom will enhance its investments in the transport and logistics sector by more than 100 billion U.S. dollars.

It also seeks to transport over 300 million passengers and five million tons of goods and connect with 250 destinations around the world by 2030, he said.

A total of 60 countries with over 2,000 participants are participating in the forum.

New Airlines

Speaking in the event in Riyadh, minister Nasser Al-Jasser also talked of the Kingdom’s “great aviation reform” which is aimed at turning the nation into the Middle East’s hub for the sector, Arab News reported.

He added that the Saudi Arabian government has ambitious plans to launch a new national carrier which it hopes could emerge as one of the best in the world in the coming years.

“We will also launch an additional national carrier to be among the world’s best airlines and we will upgrade all our facilities, infrastructure, and airports led by our hubs namely Riyadh and Jeddah,” said Al-Jasser.

He went on to say that the Kingdom aims to host 300 million passengers, and five million tons of freight reaching 250 destinations by 2030.

Reflecting on the impact of the COVID-19 outbreak, Al-Jasser described the aviation industry as being at a “crossroads”, with short term challenges including  energy prices, sustainably, growth, and competitiveness.

The pandemic also broke procedures that had been tested for many years, he argued.

Al-Jasser’s ambitions were echoed by Raid Ismael, co-head of Middle East and North Africa direct investment at Saudi Arabia’s Public Investment Fund.

ALSO READ: Pakistan renews ties with Riyadh

Ismael said aviation was a key sector that PIF is focused on as part of its strategy is to become an enabler to execute the Kingdom’s Vision 2030.

 “From a commercial aviation perspective, there are lots of opportunities when it comes to the new carrier within Riyadh,” said Mr Ismael.  “The most important is the ecosystem that is around it. To have a solid ecosystem and a multiplier effect, to make sure we drive that into a leading hub within the region.”

Ismael added that the country has launched a helicopter company to enable tourism in the Giga projects — NEOM, The Red Sea Project and Amaala.

Talking about the vitality of the Future Aviation Forum, the minister added: “Through this forum, we can establish a strong global voice to contribute to the global wellbeing, sustainability and prosperity, and if we are successful, and I believe we will be, today will mark the start of a golden era for aviation.”