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RIYADH: Saudi Deputy Minister of Foreign Affairs Waleed bin Abdulkarim Al-Khuraiji met his Indonesian counterpart Pahala Nugraha Mansury in Jakarta on Wednesday, the Saudi Press Agency reported.
The two sides reviewed ways to strengthen bilateral ties and discussed issues of mutual interest.
ISLAMABAD: Saudi Arabia’s stall, comprising a traditional Bedouin tent with the rich aroma of ‘gahwa’ and the sweetness of dates, on Sunday stole the spotlight at the Pakistan Foreign Office Women’s Association (PFOWA) charity bazaar, which showcased a vibrant tapestry of cultural performances, traditional costumes, music, art and food from various embassies and missions in Pakistan.
Pakistan’s deputy prime minister and foreign minister, Ishaq Dar, inaugurated the bazaar at the Ministry of Foreign Affairs (MoFA) on Sunday. The event featured stalls from various countries as well as from Pakistani small and medium enterprises to raise funds for low-income MoFA staff.
At the entrance of the bazaar, the very first stall was set up by the Embassy of Saudi Arabia that featured a traditional Bedouin tent where visitors were welcomed with dates and gahwa, a traditional Arabic coffee.
“It is a very welcoming gesture by the Saudi embassy as they introduced us to the true taste of Saudi coffee which is very unique,” Tayyaba Aleem, a visitor, told Arab News, adding the traditional setting of the tent added an authentic cultural touch and made it a special experience.
In his inaugural address, Dar said the event offered a unique opportunity for people to visit the Pakistani Foreign Office, and experience rich cultures of various countries through their food and handicrafts, and to contribute to a charitable cause.
“Today’s bazaar is a captivating blend of diverse cultures and the variety of experiences fostering harmony and fraternity among different nations,” he said, adding that from the kind support and donations to setting up stalls showcasing traditional outfits, apparel, artifacts and a variety of delights, the event was a collective celebration of diversity and inclusion.
“I am extremely grateful to the diplomatic missions in Islamabad and their contributions in this colorful event.”
Diplomats described the experience as a valuable opportunity to showcase their country’s cultural heritage, while learning about the traditions of others.
“It is a multilateral event and it brought a lot of things in for the participants, and for the visitors,” Muhammad Motahar Al-Ashabi, the ambassador of Yemen to Pakistan, told Arab News.
He said the Yemeni stall showcased pictures of his country’s rich heritage, including its architecture, culture and food.
“This display is a symbolic participation, but we have received a very good response from the visitors,” the ambassador added.
Turkish Ambassador to Pakistan Irfan Neziroglu commended the PFOWA for providing a “wonderful opportunity” to engage with other diplomats and Pakistani people through the event.
“We brought a variety of authentic products, mostly from Turkiye, including traditional food, and received many visitors at our stall,” he told Arab News.
“We also visited the stalls of other embassies and a kind of cultural richness we see here, not only different countries, but also the richness of Pakistan, from different parts of the country.”
Basma Al-Masharqa, a Palestinian woman residing in Islamabad, also set up a stall, featuring traditional Palestinian cuisine.
“I prepare Palestinian food and all is handmade in my home,” she told Arab News. “For small business like us, it is so nice because many people, they are coming here and they see our work.”
She said such events should be organized more frequently to help home-based businesses in the Pakistani capital.
“My mother used to cook this food and we are trying to bring our traditional culture to the Pakistani market,” Basma’s daughter, Maryam, told Arab News, saying it was a “great place” to present the Arabic food as it brought together diverse communities.
Amina Amir from Algeria praised the diversity of cultures presented at the event, hoping that Algeria would also participate next year to showcase her country’s rich heritage.
“As the largest country in Africa, we have diverse traditions and cultures that we would love to present,” she said. “It is a very good initiative as this is my second time attending this bazaar as I like to see the variety of different cultures and different countries.”
RIYADH: Kuwait’s Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah has called for an immediate ceasefire and has renewed condemnation of the Israeli occupation of Palestine.
In his opening speech for the 45th GCC Summit being hosted by his country, the Kuwait ruler also called international community “to play its role in implementing Security Council resolutions on Gaza.”
“Civilians in Gaza must be protected and provided with aid,” he said.
“We reiterate our unwavering support to Palestine and to end the Israeli occupation, attain all their political rights, and the establishment of an independent Palestinian state with East Jerusalem as its capital, in accordance with international resolutions,” he stressed.
“We also commend Qatar, Egypt, and the US for their mediation efforts in achieving a ceasefire in Gaza and welcome the ceasefire in Lebanon as a step toward de-escalation.”
The Emir also echoed support for a two-state solution on the Palestinian issue, and reiterated “We support Saudi efforts to push for two-state solution.”
Gulf leaders earlier arrived in Kuwait ahead of the 45th GCC summit, which aimed to underscore the importance of collective action among nations in the region.
GCC Secretary General Jassem Al-Budaiwi, said the summit was yet another milestone in the chain of accomplishments for attaining the aspired pan-GCC merger, in a statement published by Kuwaiti state news agency KUNA.
It is rather a platform for the leaders to coordinate their visions and stands toward regional and international issues, said Al-Budaiwi, revealing that leaders would look into strategic files designed to strengthen regional security and stability, in addition to backing up sustainable economic development in the six countries, members of the bloc.
“We recall with pride the developments and innovations that all Gulf Cooperation Council (GCC) countries have reached, becoming an example to be followed in security, development, flourishing as well as a destination for regional excellence in overall progress,” according to Saudi Ambassador to Kuwait Prince Sultan bin Saad Al-Saud, in a separate KUNA report.
The Saudi envoy affirmed that the GCC had carried out its international duties within the frame of the international community, championing wisdom and balance in the regional and international arenas.
The GCC is a beacon of hope in the region and it has worked as a unifier of efforts by all GCC citizens, he added.
Among those who have arrived in Kuwait, which hosts the event, are Saudi Arabia’s Crown Prince Mohammed bin Salman, Qatar’s Ruler Sheikh Tamim bin Hamad Al-Thani, Bahraini Crown Prince and Prime Minister Salman bin Hamad Al-Khalifa, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court Sheikh Mansour bin Zayed Al-Nahyan and Oman’s Deputy Prime Minister for the Council of Ministers Sayyed Fahad bin Mahmoud Al-Said.
The Saudi official delegation includes Minister of State and Member of the Council of Ministers Prince Turki bin Mohammad, Minister of Sports Prince Abdulaziz bin Turki, Minister of Foreign Affairs Prince Faisal bin Farhan, Minister of State, Member of the Council of Ministers and National Security Advisor Dr. Musaid Al-Aiban, Minister of Finance Mohammad Al-Jadaan, Minister of Transport Saleh Al-Jasser and other senior officials, KUNA reported.
JEDDAH: Saudi Arabia’s real estate sector is poised for significant growth following a new tripartite partnership designed to enhance housing finance and establish a secondary mortgage market.
Under the patronage of Minister of Municipal and Rural Affairs Majid Al-Hogail a memorandum of understanding was signed on Sunday by the Real Estate Development Fund, Saudi Real Estate Refinance Co., and Al-Ahli Bank. The agreement aims to support the Kingdom’s housing sector and accelerate the development of a secondary mortgage market.
The MoU, which involves the Public Investment Fund’s fully owned SRC and Al-Ahli Bank, marks an important step in fostering closer collaboration between financial institutions. As part of the agreement, Al-Ahli Bank will continue to create mortgage portfolios, which will be refinanced through the SRC, according to the Saudi Press Agency.
This partnership is expected to fast-track the creation of mortgage-backed securities (MBS), both domestically and internationally. By doing so, it will help realize the goals of the Kingdom's housing program, promoting the development of a sustainable and integrated real estate financing system. The initiative will also contribute to expanding housing options for Saudi citizens.
Recent data from the Saudi Central Bank shows that banks in Saudi Arabia disbursed SR60.92 billion ($16.24 billion) in residential mortgages during the first nine months of 2024, marking a 4.88 percent increase compared to the same period in 2023. Of this amount, SR38.85 billion was allocated for home purchases, accounting for 64 percent of the total mortgage loans. However, the share of loans for house purchases declined slightly by 3.38 percent year on year, dropping from 69 percent in 2023.
Demand for apartments has surged in response to urbanization and demographic shifts. Apartments now account for 31 percent of all mortgages, up from 25 percent last year, with lending for apartment purchases reaching SR18.6 billion — an increase of 26.8 percent. Loans for land purchases also grew by 8.26 percent to reach SR3.5 billion, underscoring continued interest in land investment across the Kingdom.
The new partnership aims to provide liquidity in the market, ensuring a continuous flow of mortgage financing and supporting the development of the secondary mortgage market in Saudi Arabia.
At the signing ceremony, Al-Hogail also launched a new financing offer from Al-Ahli Bank, with rates starting as low as 2.59% for those interested in purchasing units under construction.
Mansour bin Madi, CEO of the Real Estate Development Fund, emphasized that the strategic partnership with SRC and financial institutions aims to improve the residential mortgage market and reduce financing costs for Saudi families. He highlighted that the initiative aligns with the objectives of the “Sakani” program and the broader real estate goals of Saudi Vision 2030.
Majeed Al-Abduljabbar, CEO of SRC, noted: “This partnership with Al-Ahli Bank is a crucial step in advancing the mortgage financing market in the Kingdom. Through this collaboration, we aim to offer innovative solutions that enhance liquidity, allowing financial institutions to provide mortgage financing tailored to market needs, while expanding property options for citizens.”
Tareq Al-Sadhan, CEO of Al-Ahli Bank, affirmed that the partnership with SRC demonstrates the bank’s commitment to fostering growth in the housing sector and contributing to the development of a dynamic secondary mortgage market. This, he added, will support Saudi Arabia’s broader economic diversification efforts.
WASHINGTON: The White House is working on a ceasefire and hostage release deal in Gaza but is “not there yet,” the US National Security Adviser told NBC on Sunday, with fighting in the conflict raging on as Arab leaders meet in Cairo to discuss the crisis.
“We are working actively to try to make it happen. We are engaged deeply with the key players in the region, and there is activity even today,” said Jake Sullivan, according to a transcript released by the broadcaster.
“There will be further conversations and consultations, and our hope is that we can generate a ceasefire and hostage deal, but we’re not there yet,” he added.
Sullivan’s comments came a day after Israel hit Hezbollah targets in Lebanon, days into a fragile ceasefire in its conflict with the Iran-backed group.
Addressing that conflict, Sullivan lauded the ceasefire deal and said the US was working with Lebanon’s military to ensure it was implemented “effectively.”
“We need to protect it and ensure that it is fully implemented,” he told NBC.
In an apparent reference to the Israeli strikes, Sullivan said both parties “have the right, consistent with international law, to take action in self-defense if they’re facing imminent threats.”
Speaking in Jerusalem on Sunday, Israeli Foreign Minister Gideon Saar said there were “indications” progress could be made on a deal securing the release of hostages by Hamas in Gaza.
“There are signs we may see a greater degree of flexibility from Hamas as a result of circumstances that have developed, including the agreement with Lebanon,” he said.
“There is a desire to move forward on this. I hope it can progress. We are committed to the return of the hostages — it’s a responsibility we must uphold.”
Saar asserted, however, that Hamas “cannot be allowed” to continue to rule Gaza.
Hamas seized 251 hostages during its October 7, 2023, attack on Israel, with 97 still being held in Gaza, including 34 who have been confirmed to be dead.
The armed group’s attack resulted in 1,207 deaths, mostly civilians, according to an AFP tally of Israeli official figures.
In response, Israel launched a withering military campaign on Gaza, killing at least 44,429 there, most of them civilians, according to figures from the Hamas-run territory’s health ministry that the UN considers reliable.
Much of Gaza has been reduced to rubble, with its population dependent on humanitarian aid that the UN on Sunday said it would pause delivery of through the key Kerem Shalom crossing due to security concerns.
JENIN: The Palestinian health ministry said the Israeli army killed two people in the occupied West Bank on Sunday, after Israel’s military announced a strike in the area of Jenin.
The ministry said in a statement two people were killed “due to the occupation’s aggression on the village of Siir in the Jenin district,” referring to Israel.
Hours earlier, Israel’s military said in a statement that “an IAF (Israeli air force) aircraft conducted a strike on terrorists in the area of Jenin.”
The Palestinian Red Crescent said Israeli forces were “preventing our teams from reaching the bombing site near the village of Siir.”
Israeli soldiers entered the village at around 7:00 am (0500 GMT) on Sunday and had withdrawn by the afternoon, an AFP photographer said.
Two vehicles had been destroyed near a wooded area, and eyewitnesses said the army removed two bodies from a second site that had been hit, the journalist added.
Last month, the Israeli army launched several raids in Jenin, killing nine people, the majority of them Palestinian militants.
Two Palestinians, including a teenage boy, were also killed during an Israeli raid in the West Bank village of Yabad on November 24, the Palestinian Authority said.
Violence in the West Bank, particularly in the north of the territory, has soared since the war in Gaza began in October last year after Hamas’s attack on Israel.
Israeli troops or settlers have killed at least 780 Palestinians in the West Bank during the Gaza war, according to the Ramallah-based health ministry.
Palestinian attacks on Israelis have also killed at least 24 people in the West Bank in the same period, according to Israeli official figures.
Israel has occupied the West Bank since 1967.
