Saudi fund backs $41m revamp of Dominica’s capital

Saudi fund backs $41m revamp of Dominica’s capital
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The agreement was signed by the fund’s CEO Sultan Al-Marshad and Dominican Minister of Finance Irving McIntyre. (SPA)
Saudi fund backs $41m revamp of Dominica’s capital
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The agreement was signed by the fund’s CEO Sultan Al-Marshad and Dominican Minister of Finance Irving McIntyre. (SPA)
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Updated 15 September 2024
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Saudi fund backs $41m revamp of Dominica’s capital

Saudi fund backs $41m revamp of Dominica’s capital
  • Infrastructure Rehabilitation Project to boost growth, connectivity and job creation in Roseau

RIYADH: The Saudi Fund for Development signed a loan agreement on Sunday with Dominica to finance the $41 million Infrastructure Rehabilitation Project in Roseau, the capital city.

The project is expected to drive socio-economic growth and improve the quality of life, according to the Saudi Press Agency.

The agreement was signed by the fund’s CEO Sultan Al-Marshad and Dominican Minister of Finance Irving McIntyre.

Dominica’s Prime Minister Roosevelt Skerrit delivered a keynote address at the ceremony, expressing gratitude for Saudi Arabia’s support and acknowledging the fund’s role in the project.

The project involves rehabilitating seven main streets, improving road connectivity, and enhancing safety and access to basic services.

It will also contribute to commercial and residential development and create jobs, SPA reported.

The project aligns with the UN’s Sustainable Development Goals and demonstrates the fund’s commitment to supporting development in Dominica and other Small Island Developing States.

Al-Marshad said: “We wish Dominica continued growth and prosperity. May this project drive positive change and sustainable development.”

McIntyre said: “The project is a critical step in addressing the challenges facing Roseau. It is expected to increase social and economic productivity.2

The Saudi fund, celebrating its 50th anniversary, has financed over 800 projects in 100 countries. Since 2023, it has extended development loans to 10 new Small Island Developing States.


Olive presses in Tabuk process harvest from 1.8 million trees

Olive presses in Tabuk process harvest from 1.8 million trees
Updated 5 sec ago
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Olive presses in Tabuk process harvest from 1.8 million trees

Olive presses in Tabuk process harvest from 1.8 million trees

RIYADH: Olive presses in the Tabuk region are currently processing the harvest from more than 1.8 million olive trees, which yield 94,000 tonnes of olives and more than 12,250 tonnes of olive oil.

The primary olive varieties are Arbequina, Arbosana, nabalie and souri, the Saudi Press Agency reported.

The geography of the Tabuk region and its proximity to a Mediterranean climate, makes it one of the Kingdom’s most important areas for producing various crops.

In addition to olive oil, the region is known for its grapes, apricots, peaches, strawberries, mangoes, oranges and mandarins, with several varieties cultivated to prioritize quality over quantity.

Agriculture is a key economic sector in Saudi Arabia, contributing to self-sufficiency and exports. The government has prioritized the sector by providing farmers with soft loans, agricultural machinery, pumps and other essential equipment.

The regional branch of the Ministry of Environment, Water and Agriculture supports farmers by encouraging the use of advanced agricultural technologies and offering specialized consultations to maximize yields.

It also organizes seasonal agricultural festivals in cities, governorates and centers in the region, timed to coincide with harvest seasons.

The Olive Festival is the region’s premier seasonal event, providing a vital marketing platform for farmers to sell olive products and derivatives.

It is held alongside other events throughout the region, supporting the agricultural community and promoting local produce. 


Thai business meets Arab flair in Riyadh

Thai business meets Arab flair in Riyadh
Updated 9 sec ago
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Thai business meets Arab flair in Riyadh

Thai business meets Arab flair in Riyadh
  • Fair highlights products, brands aiming to tap into Saudi market

RIYADH: The Thailand International Mega Fair brought Thai businesses in contact with Arab flair in Riyadh.

The three-day event, which concluded on Sunday, showcased Thailand’s presence in the Middle East by featuring innovative Thai products and services across various industries.

Marking a historic collaboration between Thailand and Saudi Arabia, the fair signaled a new era of trade, investment, and cultural exchange.

One of the featured brands was Oud Era, a Thai lifestyle brand offering oud-infused products including perfumes, oils, oud chips, and body care items. Its perfumes incorporate Arabian notes like musk, rose, and amber.

Kasaama Pohsa, chief brand officer at Oud Era, said that the oud is sourced directly from the brand’s agarwood factory, ensuring an entirely in-house production process.

Thailand is recognized as one of the leading exporters of oud, which is valued for its longevity and a scent that intensifies as the wood matures. Pohsa said that her clientele primarily comprises customers from Gulf countries.

Pohsa said: “The reason that we came to this exhibition is because we saw the high potential of the Saudi market. It is a very big market with high purchasing power.”

The fair also showcased fashion brands like Marada Clothing, a label known for its distinctive textiles and bold designs.

Panasan Suksanguan, brand officer of Marada, told Arab News that the brand aims to establish itself in the Middle Eastern market with its unique take on long dresses.

Suksanguan said: “We want to be the first ones from Thailand to be here. Whenever you think about fashion in Thailand, you think of me.”

The event showcased more than 200 brands offering prominent Thai products across sectors including food and beverages, tourism and hospitality, health, automotive parts, smart agriculture, innovation, and fragrances.

It was organized by Index Creative Village in collaboration with the Chamber of Commerce and Board of Trade of Thailand, and Cosmos Events company, with support from the Royal Thai Embassy in Saudi Arabia, and the Tourism Authority of Thailand.

The event attracted thousands of visitors, including specialists and buyers, and helped to create opportunities to connect with industry experts, suppliers, and sector leaders to foster partnerships and support business expansion in the Kingdom.

Visitors also participated in various events, including seminars, discussion panels, and forums, which provided valuable insights into the region’s economic landscape.


New project to plant 90,000 trees in Hali Wildlife Park

New project to plant 90,000 trees in Hali Wildlife Park
Updated 51 min 9 sec ago
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New project to plant 90,000 trees in Hali Wildlife Park

New project to plant 90,000 trees in Hali Wildlife Park

RIYADH: The National Center for Vegetation Cover Development and Combating Desertification has launched a project to restore Hali Wildlife Park in Al-Qunfudhah governorate, Makkah region.

Part of the Saudi Green Initiative, the project aims to enhance vegetation cover and promote sustainable environmental goals, according to the Saudi Press Agency.

The initiative involves planting 90,000 native and wild trees, such as vachellia tortilis, tamarix aphylla, vachellia seyal, balanites aegyptiaca, maerua crassifolia, delonix elata, salvadora persica, leptadenia pyrotechnica and acacia nilotica.

The trees will cover approximately 6 million sq. meters, irrigated using water from nearby dams. A 6-kilometer pipeline will be built to channel water from Wadi Hali Dam to the park.

Hali Wildlife Park is known for its scenic landscapes, diverse vegetation and proximity to Wadi Hali Dam, attracting local and international visitors.

The center’s afforestation efforts contribute to creating green spaces, preserving endangered native plants, lowering temperatures, improving air quality, and controlling sand encroachment.

The center is committed to enhancing and managing vegetation sites, protecting natural resources, combating illegal logging, and safeguarding biodiversity, the SPA reported.


‘Climate action must be a collective effort,’ says COP CEO Soltanov

‘Climate action must be a collective effort,’ says COP CEO Soltanov
Updated 17 November 2024
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‘Climate action must be a collective effort,’ says COP CEO Soltanov

‘Climate action must be a collective effort,’ says COP CEO Soltanov
  • Fight against climate change will fail unless countries come together
  • National interest linked with global actions

BAKU: Countries from around the world must come together in a “collective effort” to fight climate change, COP29 CEO Elnur Soltanov told Arab News.

“When we say, ‘in solidarity for a greener world,’ we mean that climate action must be a collective effort. Unless it is collective, it won’t work, and we risk losing everything,” said Soltanov.

He pointed out the moral imperative of international solidarity, particularly for nations that contribute minimally to global warming yet suffer the most from its effects, such as African countries and small island nations.

“African countries, contribute less than 4 percent to global warming, but the majority of climate-vulnerable countries are in the African continent,” he said.

For example, as of last year, extreme heatwaves during summer have critically affected the northern parts of Africa, such as Tunisia. The temperature in Tunis reached 49°C, whereas Agadir in Morocco, recorded 50.4°C, according to the World Meteorological Organization.

One of the major components of this solidarity is climate finance, which Soltanov believes is essential for creating a fair balance of responsibilities among nations.

“Different countries have different responsibilities, in terms of what is happening in the world today. There are beneficiaries, there are not so many beneficiaries, so this balance and fairness between them could only be provided in case we are moving collectively, and to move collectively, we believe we should deliver on climate finance this year,” he said, stressing that climate finance is critical for enabling of collective action.

Soltanov acknowledged that the outcomes of such gatherings are frequently scrutinized.

“The crisis we are facing is real, it is significant and therefore whenever it is helped, whatever the outcomes are, there will be criticism. It is not about Azerbaijan, it is not about Saudi Arabia, it is not about any country,” he said.

Despite the criticism, the CEO prefers to be heavily focused on achieving tangible results and delivering meaningful climate action instead of focusing on who to blame for this global environmental problem.

“We are ready to listen to constructive arguments,” he said. “What would I tell everybody is, if you want to serve that national interest of Azerbaijan, you need to serve the global interest, which is about producing outcomes and deliverables in terms of tackling the climate crisis.”

He added: “Our focus is on delivering action, climate action, that is really consequential.”

Soltanov noted that developed countries have special responsibilities to assist others, highlighting the need for a cooperative approach to ensure that nobody is left behind.

“We don’t see the difference between oil producing or oil consuming country because oil transactions, gas transactions and coal transactions happen in a free market. Nobody is forced to buy from anybody.”

He added: “Therefore, all the countries are oil countries and all the countries are gas countries because the entire global development models are based on hydrocarbons, and we are trying to figure out these alternative models of development so that development and energy security, development and poverty are not things we choose from, they happen at the same time.”

Azerbaijan and Saudi Arabia, for example, can share their capabilities, experience, and partnerships to bring more to the table.

“We believe that, the way we look at, if there is anything Saudi Arabia, a country like Azerbaijan, could do for us, they are valuable in terms of experience and technology they acquire because they are at the forefront of the other forms of energy developments.”


Saudi Arabia to host 6th UN World Data Forum in 2026

Saudi Arabia to host 6th UN World Data Forum in 2026
Updated 17 November 2024
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Saudi Arabia to host 6th UN World Data Forum in 2026

Saudi Arabia to host 6th UN World Data Forum in 2026
  • Kingdom’s successful bid endorsed by High-Level Group for Partnership, Coordination, and Capacity-Building in Statistics (HLG-PCCB)

RIYADH: Saudi Arabia was confirmed on Friday as host of the sixth edition of the UN World Data Forum in 2026, Saudi Press Agency reported on Saturday.

The announcement was made at Friday’s conclusion of the fifth edition, held in Medellin in Colombia and attended by representatives from all 193 UN member states.

The Kingdom’s successful bid was endorsed by the High-Level Group for Partnership, Coordination, and Capacity-Building in Statistics (HLG-PCCB), recognizing Saudi Arabia’s significant progress and commitment to leveraging data for sustainable development.

Fahad Aldossari, president of the General Authority for Statistics (GASTAT), expressed his congratulations to King Salman and Crown Prince Mohammed bin Salman for their continued support.

He acknowledged their backing and the role it has played in strengthening GASTAT’s global presence and expertise, enabling it to compete on an international scale.

Aldossari noted that hosting the 6th UN World Data Forum was a testament to Saudi Arabia’s comprehensive advancements across various sectors, particularly in data and statistics.

“This forum will be an invaluable platform for sharing technical expertise, fostering partnerships with national statistical offices worldwide, and enhancing global cooperation in statistics,” he said.

He also expressed gratitude to Colombia’s government, the UN, and the National Department of Statistics (DANE) for their successful organization of the 5th forum, as well as to the HLG-PCCB and participating representatives for their dedication. 

The UN World Data Forum is a premier global event, drawing more than 20,000 participants from government bodies, national statistical offices, international and regional organizations, academia, civil society, and the private sector.

It addresses challenges in global data and statistics, fosters collaboration, and underscores the importance of data in shaping effective policies and initiatives.