Saudi Transport Authority conducts more than 265,000 inspections

A total of 260,454 inspection operations were conducted in the land transport sector and 5,369 inspections took place in the maritime sector. (Supplied)
A total of 260,454 inspection operations were conducted in the land transport sector and 5,369 inspections took place in the maritime sector. (Supplied)
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Updated 06 December 2023
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Saudi Transport Authority conducts more than 265,000 inspections

Saudi Transport Authority conducts more than 265,000 inspections
  • Riyadh recorded the highest number of violations in November with 11,678, followed by Makkah with 9,549, the Eastern Province with 6,745 and Madinah with 2,228

RIYADH: Saudi Arabia’s Public Transport Authority, represented by the Directorate General for Control in collaboration with other authorities, carried out field inspection campaigns in November.

They included 260,454 inspection operations in land transport, 5,369 inspections for maritime transport, in addition to two visits to railway stations around the country.

Riyadh recorded the highest number of violations in November with 11,678, followed by Makkah with 9,549, the Eastern Province with 6,745 and Madinah with 2,228.

The authority said that in November, land transport facilities achieved a compliance rate of 92 percent, while maritime and railway transport facilities saw compliance rates of 89 and 100 percent, respectively.

It added that the violations varied between operating vehicles without a driver card or an operating card and the lack of a transport document, as well as the non-conformity of truck safety barriers with the specifications required by the relevant authorities and the absence of the minimum adopted safety requirements.

It said that the highest number of violations were detected in the transport of goods, followed by other activities such as bus transport, establishments’ taxis, public taxis and airport taxis (individuals).

 

 


IMF’s $7 billion bailout sends Pakistan stocks to life-time high

IMF’s $7 billion bailout sends Pakistan stocks to life-time high
Updated 1 min 32 sec ago
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IMF’s $7 billion bailout sends Pakistan stocks to life-time high

IMF’s $7 billion bailout sends Pakistan stocks to life-time high
  • Pakistan’s stock index hits record high of 82,905.73
  • PM Sharif and IMF’s Georgieva emphasize need for reforms

ISLAMABAD: Pakistan’s benchmark share index hit a life-time high in opening trade on Thursday, hours after the International Monetary Fund’s board approved a long-awaited $7 billion bailout deal for the struggling economy.
The IMF said the new program will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”
An immediate disbursement of about $1 billion will take place, an IMF statement said.
Pakistan’s stock benchmark index rose in early trade to a record high of 82,905.73 points, before reversing those gains later in the day to close 0.7 percent down at 81,657.
“We will need to take difficult decisions if we want to make it our last program with the IMF,” Pakistan’s junior finance minister, Ali Pervaiz Malik, told local Geo News TV on Thursday.
Prime Minister Shehbaz Sharif thanked the IMF managing director Kristalina Georgieva and said the country would continue to implement the tough economic reform agenda, he told reporters in New York on the sidelines of United Nations general assembly on Wednesday.
Georgieva congratulated Pakistan for moving forward with “home-defined” reforms.
“The economy is on the sound path,” she told reporters after the board meeting. “Growth is up and inflation is down,” she said.
Islamabad had been working on implementing conditions, which Sharif had previously called “strict” to secure the 37-month loan program agreed in July. One condition was to secure additional external financing, which the country was struggling to do.
Local media reported that Islamabad recently signed its most expensive commercial loan ever for $600 million at 11 percent interest as a last-ditch bid to cover the financing gap and secure board approval.
However, an IMF spokesperson said on Friday that the lender was unaware of a loan at this rate and that it was not necessary for the purposes of the program’s financing assurances.

REFORMS AND RISKS

The IMF said in its statement that Pakistan had taken key steps to restore economic stability with consistent policy implementation under the 2023-24 standby arrangement.
It added that growth had rebounded to 2.4 percent and inflation has receded significantly, falling to single digits, amid appropriately tight fiscal and monetary policies.
A contained current account and calm foreign exchange market conditions have allowed the rebuilding of reserve buffers, and the central bank of Pakistan has been able to cut the policy rate by a total of 450 bps since June, the statement said.
Despite this progress, it said, Pakistan’s vulnerabilities and structural challenges remain formidable, adding that the tax base remains too narrow.
“Without a concerted adjustment and reform effort, Pakistan risks falling further behind its peers,” it warned.
Pakistan has been struggling with boom-and-bust economic cycles for decades, leading to more than 20 IMF bailouts since 1958.
The South Asian country is the IMF’s fifth-largest debtor, owing the Fund $6.28 billion as of July 11, according to the lender’s data.


Israeli strike on south Beirut targeted senior Hezbollah leader -security source

Israeli strike on south Beirut targeted senior Hezbollah leader -security source
Updated 5 min 14 sec ago
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Israeli strike on south Beirut targeted senior Hezbollah leader -security source

Israeli strike on south Beirut targeted senior Hezbollah leader -security source

Israel targeted a senior Hezbollah leader in a strike on Beirut’s southern suburbs on Thursday afternoon but his fate was not immediately known, a security source told Reuters.
The strike hit near a part of the southern suburbs where several of the Lebanese armed group’s facilities are located.


Pakistan opposition party moves court against ordinance seen as curtailing senior judiciary’s powers 

Pakistan opposition party moves court against ordinance seen as curtailing senior judiciary’s powers 
Updated 9 min 4 sec ago
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Pakistan opposition party moves court against ordinance seen as curtailing senior judiciary’s powers 

Pakistan opposition party moves court against ordinance seen as curtailing senior judiciary’s powers 
  • Under new ordinance, top court cases to be heard by bench comprising CJ, next most senior judge and SC judge nominated by CJ
  • PTI party has filed petition against the ordinance calling for it to be declared unconstitutional, threat to separation of powers

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) opposition party on Thursday moved the top court against a new ordinance passed by the coalition government of Prime Minister Shehbaz Sharif, and which is widely seen as a tool to curtail the powers of the country’s senior judiciary.

The Supreme Court (Practice and Procedure) Act 2023 was passed in the last days of Sharif’s first term in government, which ended last year. However, before the law could be enacted on April 21, 2023, an eight-member bench constituted by then Chief Justice Umar Ata Bandial issued a stay order on it on April 13, 2023.

Last Friday, however, President Asif Ali Zardari signed the Supreme Court (Practice and Procedure) Amendment Ordinance 2024 into law.

PTI Chairman Gohar Khan on Thursday filed a petition against the ordinance, requesting that it be declared “unconstitutional” and all decisions of the Practice and Procedure Committee, which assigns judges to Supreme Court cases, taken after the approval of the ordinance be declared “illegal” and “annulled.”

The plea calls on the court to suspend the newly constituted Practice and Procedure Committee as long as the constitutional petition was pending. 

“Further, the committee purportedly re-constituted pursuant to the Impugned Ordinance may kindly be restrained from constituting benches and fixing any cases before them and the lawfully constituted Committee under Supreme Court (Practice and Procedure) Act, 2023 consisting of the Chief Justice of Pakistan and the two next senior most judges may be allowed to continue functioning,” the plea said. 

The new ordinance reads:

“Every cause, appeal, or matter before the Supreme Court shall be heard and disposed of by a Bench comprising the Chief Justice of Pakistan, the next most senior judge of the Supreme Court and a Judge of the Supreme Court nominated by the Chief Justice of Pakistan from time to time.”

One provision, which is widely seen as limiting the power of Supreme Court judges to initiate cases of public importance or fundamental laws on their own through suo moto proceedings, said a bench hearing a matter under Article 184(3) of the constitution would decide and identify through a “reasoned and speaking order” the question of public importance in the case and what fundamental right it was seeking to enforce.

Article 184 of the constitution confers original jurisdiction, the authority to hear a case at its initiation, often referred to as Public Interest Litigation, in the form of judicial review to Pakistan’s Supreme Court. Clause (3) of Article 184 is cited as the source of suo motu powers. In essence, it gives the apex court the extraordinary power to assume jurisdiction over any “question of public importance with reference to the enforcement of any fundamental right”.

Under the new law, each case would be heard in turn, that is the cases filed first will be heard first, and a reason furnished for taking up cases out of turn. All hearings will be recorded and transcripts publicly available. 

The PTI petition says the ordinance violates the principles of separation of powers and the independence of the judiciary.

“Therefore, it is liable to be struck down,” it said. 

“The rights of access to justice and fair trial also require a judiciary that is separate and independent of the Executive. The Impugned Ordinance is a direct attempt to interfere, alter, and control the inner working of the Supreme Court and is thus unconstitutional and liable to be struck down.”

The plea stated that if the ordinance was upheld or accepted as valid law, it would amount to accepting that whenever the government was particularly interested in a case fixed before the SC, it would have the power to alter and amend how and when the case was fixed and before whom through the exercise of its temporary or permanent legislative power.

“This is a gross violation of the independence of judiciary, and guarantee of fair trial, and is clearly unconstitutional,” the PTI plea says. 


Saudi Arabia, UAE drive expansion of GCC retail sector in GCC: industry report 

Saudi Arabia, UAE drive expansion of GCC retail sector in GCC: industry report 
Updated 10 min 43 sec ago
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Saudi Arabia, UAE drive expansion of GCC retail sector in GCC: industry report 

Saudi Arabia, UAE drive expansion of GCC retail sector in GCC: industry report 

RIYADH: The retail sector in the Gulf Cooperation Council is projected to grow at an annual rate of 4.6 percent between 2023 and 2028, primarily fueled by the UAE and Saudi markets, according to a recent analysis by investment banking advisory firm Alpen Capital.

Retail sales in the GCC are expected to rise from $309.6 billion in 2023 to $386.9 billion by 2028.

The UAE and Saudi Arabia are set to see expansions of 5.4 percent and 5.1 percent, respectively, reaching $161.4 billion and $139.1 billion during this period. This growth is attributed to factors such as population increases, rising per capita income, and heightened tourism activities. Strengthening the retail sector is essential for Saudi Arabia as it seeks to position itself as a leading business and tourist destination, aligning with the economic diversification goals outlined in Vision 2030.

In February, Majid Al-Hogail, Saudi Arabia’s minister of municipal and rural affairs and housing, noted that the retail sector contributes 23 percent to the non-oil economy and aims to surpass $122.6 billion by the end of 2024.

“The long-term prospects of the GCC retail industry continue to remain positive owing to economic growth, favorable demographics, relaxation of visa rules, and liberalization policies,” said Sameena Ahmad, managing director of Alpen Capital.

She added that ambitious government agendas for economic diversification are leading to significant advancements in infrastructure and tourism, further enhancing the region’s appeal.

Emerging trends such as “buy now, pay later” options and evolving consumer preferences are also reshaping market dynamics. The report projects that retail sales in Kuwait and Bahrain will grow at a compound annual growth rate of 3.1 percent each from 2023 to 2028, while Qatar and Oman are expected to grow at rates of 2.2 percent and 1 percent, respectively.

Alpen Capital emphasizes that the rising population, particularly with a concentration of expatriates and high-net-worth individuals, is a key driver of GCC retail growth.

“Anticipated pick up in the economic activity and improvement in per capita income is expected to further advance the appetite for global brands and luxury items. Amid expanding infrastructure developments, the GCC economies are establishing themselves as a hub for global business, entertainment, and sporting events,” the report said.

Additionally, religious and cultural tourism significantly contributes to sector growth, attracting many tourists during pilgrimages and festivals. However, the analysis also identifies risks that could hinder growth, such as geopolitical tensions. Vulnerabilities in hydrocarbon revenues, rising geopolitical concerns, and global macroeconomic challenges may pressure the industry. “The region is sensitive to supply-side shocks, which could lead to inflationary pressures and affect consumer spending power,” added Alpen Capital.


Harrods apologizes to women who say they were abused by former owner Mohamed Al Fayed

Managing director of Harrods said the store is “deeply sorry” for failing employees who say they were sexually assaulted.
Managing director of Harrods said the store is “deeply sorry” for failing employees who say they were sexually assaulted.
Updated 12 min 58 sec ago
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Harrods apologizes to women who say they were abused by former owner Mohamed Al Fayed

Managing director of Harrods said the store is “deeply sorry” for failing employees who say they were sexually assaulted.
  • Michael Ward said it is clear Al Fayed “presided over a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct”

LONDON: The managing director of Harrods said Thursday that the London department store is “deeply sorry” for failing employees who say they were sexually assaulted by late owner Mohamed Al Fayed.
Michael Ward said it is clear Al Fayed “presided over a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct.”
Five women have told the BBC they were raped by Al Fayed, who died last year aged 94, and several others allege acts of assault and physical violence. Lawyers for the alleged victims say they have been retained by 37 women and the list is growing.
Ward said he was “not aware of his (Al Fayed’s) criminality and abuse” during the four years he worked for the Harrod’s owner, though “rumors of his behavior circulated in the public domain.”
Al Fayed owned Harrods for a quarter century before selling it 2010 to a company owned by the state of Qatar through its sovereign wealth fund, the Qatar Investment Authority.
“We failed our colleagues and for that we are deeply sorry,” Ward said in a statement. He said Harrods had set up a “settlement process” for Al Fayed’s victims.
“This was a shameful period in the business’ history,” the statement said. “However, the Harrods of today is unrecognizable to Harrods under his ownership.”
London’s Metropolitan Police say they were made aware of allegations in the past and had questioned Al Fayed in 2008 over the alleged sexual abuse of a 15-year-old, but prosecutors at the time did not take the cases forward.
Al Fayed’s family has not commented.
Egypt-born businessman Al Fayed moved to Britain in the 1960s and bought Harrods, an upmarket retail emporium in London’s tony Knightsbridge district, in the mid-1980s
He became a well-known figure through his ownership of the store and the London soccer team Fulham. He was often in the headlines after his son Dodi was killed alongside Princess Diana in a car crash in Paris in 1997.
Al Fayed spent years promoting the conspiracy theory that the royal family had arranged the accident because they did not approve of Diana dating an Egyptian.
An inquest concluded that Diana and Dodi died because of the reckless actions of their driver — an employee of the Ritz Hotel in Paris owned by Al Fayed — and paparazzi chasing the couple. Separate inquiries in the UK and France also concluded there was no conspiracy.