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  • Saudi Videos Show Flooded Mecca

    Satellite images show that Mecca, a holy city according to Islam, has flooded after Saudi Arabia was hit with torrential rains due to a storm on Monday that swept away cars and caused havoc, the Saudi Gazette reported. The country's National Center for Meteorology has issued red alerts due to heavy rain in regions including Al Qunfudhah, Al Ardiyat and Adam, and it has predicted the rain in Mecca will continue on Friday and Sunday. Photos and videos shared on social media show cars and roads being submerged in water. Like Mecca, another holy city, Medina, in Saudia Arabia has also flooded after the rainfall, in addition to Jeddah, a port city on the Red Sea. The Medina region received the most rainfall, at 49.2 millimeters, while Jeddah had 38 millimeters of rain. Hussein al-Qahtani, the spokesman for the National Center for Meteorology, wrote in a post on X that the "rainy season that began tonight and will continue until Wednesday has begun to affect the northern regions, and will gradually extend to Qassim, Riyadh, the Eastern Province, Al-Baha, Asir, and the regions of Madinah and Makkah Al-Mukarramah and their coasts.

  • Saudi Arabia’s National Water Company will implement water supply projects worth $426 million

    The National Water Company (NWC), represented by the Western Cluster, announced that it has started implementing water supply projects in the holy city of Makkah at a cost of more than 1.6 billion Saudi Riyals (about $426 million). These projects are part of NWC’s strategies to develop the infrastructure of the water and environment sectors and increase the coverage rates in cities and governorates. The company explained that the projects would serve about 3 million beneficiaries annually. This would be done through the implementation of projects to replace the main transmission lines of drinking water in the third ring road for the first and second phases.

  • Saudi cement sales up 19% to 5.23M tons in Dec 2024

    The aggregate sales volumes of 17 Saudi cement producers jumped 19% to 5.23 million tons in December 2024, from 4.39 million tons a year earlier, according to recent data released by Yamama Cement Co. A total of 13 companies reported higher domestic sales volumes for the month, led by United Cement Co. rising 75.4% year-on-year (YoY). Al Jouf Cement Co. came in second with a 56.6% YoY leap.

  • Saudi Arabia’s Jeddah Tower to serve as magnet for surge in global investment in the Kingdom, say experts

    “The impact of Jeddah Tower will extend far beyond its architectural grandeur. The construction of such an iconic structure will be a catalyst for transformative change within the Kingdom’s real estate and broader economic sectors,” Sankey Prasad, Chairman and MD, Middle East and India, Colliers, a leading global diversified professional services and investment management company, told Arabian Business. “These types of landmark projects have historically been key drivers of urban development, creating attractive environments for businesses, residents, and tourists alike,” he said. Farooq Syed, CEO of Dubai-based Springfield Properties, said as the Middle East region continues to expand its influence on the global stage, projects like the Jeddah Tower will complement Dubai’s established position as a global hub, fostering increased connectivity, collaboration, and economic opportunity across the region.

  • UAE discusses post-war Gaza government with US and Israel

    The United Arab Emirates has discussed with Israel and the United States participating in a provisional administration of post-war Gaza until a reformed Palestinian Authority is able to take charge, according to people familiar with the talks. The behind-the-scenes discussions, reported by Reuters for the first time, included the possibility of the UAE and the United States, along with other nations, temporarily overseeing the governance, security and reconstruction of Gaza after the Israeli military withdraws and until a Palestinian administration is able to take over, a dozen foreign diplomats and Western officials told Reuters.

  • Taste of 2034 World Cup as Saudi Asian Cup stadiums named

    Among the venues announced Tuesday for the 24-team regional competition were the 70,000-capacity King Fahd Sports City Stadium and King Saud University Stadium, both in Riyadh, which have also been earmarked to hold World Cup games.  Likewise the 60,000 King Abdullah Sports City Stadium in Jeddah. The Asian Cup will be spread across eight stadiums. "Confirming the dates and selecting the stadiums for the AFC Asian Cup Saudi Arabia 2027 is a strategic milestone in our journey to host the tournament," said Yasser al-Misehal, president of the Saudi Arabian Football Federation.

  • Saudi Interior Ministry confirms ban on transferring or publishing security surveillance camera recordings

    Saudi Arabia’s Interior Ministry confirmed that the provisions of the “Use of Security Surveillance Cameras” law prohibit the transfer or publication of security surveillance camera recordings. Security surveillance camera recordings can only be transferred or published with the approval of the ministry or the Presidency of State Security, based on a judicial order, or at the request of an investigating authority. The ministry explained that anyone who violates this rule will be punished with a fine of SR20,000 ($5,327). This includes anyone who transfers or publishes recordings in violation of the law or damages or vandalizes security surveillance camera systems or recordings.

  • Saudi Arabia’s PIF raises $7bn from first murabaha facility as it seeks to boost investments

    Saudi Arabia's Public Investment Fund plans to raise $7 billion from its first murabaha credit facility, as the fund diversifies its funding sources to boost investments. A murabaha facility follows an Islamic financing structure which does not involve any interest payments, where the two parties agree on the contractual terms. The financing is part of the fund's medium-term capital-raising strategy and is supported by a syndicate of 20 international and regional financial institutions, the PIF said on Monday. “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia,” said Fahad Al Saif, PIF’s head of the global capital finance as well as the investment strategy and economic insights divisions.

  • Saudi Arabia completes arrangement to secure $2.5 bln credit facility

    Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the National Debt Management Center (NDMC) said on Thursday. The credit facility, which spans a tenure of three years, is aimed at financing the general budgetary needs, and was secured with the participation of three regional and international financial institutions, NDMC added in a statement.

  • Saudi wages rise 45% as unemployment hits historic low of 3.3% in 2024

    Wages for Saudis in the private sector rose by 45 per cent in 2024, as Saudi Arabia’s Ministry of Human Resources and Social Development reported significant strides in employment, women’s empowerment, and economic development aligned with Vision 2030 targets.The ministry highlighted the impact of women’s increased economic participation, with their labour market engagement rising to 35.8 per cent, surpassing Vision 2030 goals. Women now hold 43 per cent of middle and senior management positions. “The increase in wages and the rise in women’s workforce participation demonstrate a growing appreciation for national competencies and our efforts to improve productivity while fostering a balanced work environment,” the ministry said in a statement.