Saudi road maintenance time down 40% thanks to modern technology, transport minister says

Saudi road maintenance time down 40% thanks to modern technology, transport minister says
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Saudi Minister of Transport and Logistics Services Saleh Al-Jasser was speaking on the first day of the Road Safety and Sustainability Conference in Riyadh. X/@RGAsaudi
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Updated 03 November 2024
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Saudi road maintenance time down 40% thanks to modern technology, transport minister says

Saudi road maintenance time down 40% thanks to modern technology, transport minister says
  • Saleh Al-Jasser said cutting-edge innovations have helped reduce carbon emissions
  • Several road networks were surveyed to identify shortcomings and execute safety initiatives, minister said

RIYADH: Saudi road maintenance time has been slashed by 40 percent thanks to modern technologies, according to the Kingdom’s Minister of Transport and Logistics Services. 

During a speech on the first day of the Road Safety and Sustainability Conference taking place in Riyadh from Nov. 3—4, Saleh Al-Jasser said the cutting-edge innovations have also helped reduce carbon emissions.

This falls in line with Saudi Arabia’s Roads General Authority’s vision of enhancing the safety and sustainability of the road sector through national competencies. It also aligns with the body’s keenness to improve the quality of road networks and user experience, as well as foster innovation. 

It is also in line with the authority’s objective to reduce the number of road deaths to less than five cases per 100,000 people.

“Modern technologies have helped reduce road maintenance time by up to 40 percent while reducing carbon emissions,” Al-Jasser said. 

He added: “The Kingdom has implemented many scientific innovations such as road cooling and rubber roads and has advanced in the road quality index to fourth place among the G20 countries.”

The minister highlighted how this confirms its leadership in achieving the highest safety and quality standards on roads. 

“The Kingdom’s vision has given great attention to quality of life and road safety,” Al-Jasser said.

“The Kingdom’s road network is the world’s first in terms of connectivity, and enhances sustainable development for individuals and goods according to the highest standards of security and safety,” he also said. 

The minister went on to say a large number of road networks were surveyed to identify shortcomings and execute safety initiatives. Several measures have been implemented following the reviews. 

Speaking at the same event, the Vice Minister of Transport and Logistics Services for Road Affairs and Acting CEO of RGA, Badr Abdullah Al-Dulami, shared findings from the world’s largest road survey, which confirmed that 77 percent of the Kingdom’s roads meet safety standards. He also highlighted that protection measures in traffic diversions have risen to 95 percent.

“Expanding an advanced research study that the authority is working on to use the products of building demolition in asphalt mixtures, which contributes to preserving the environment and investing in natural resources,” Al-Dulami said. 

“Launching the Saudi Road Code, which contributes to raising the level of safety, preserving the environment, and preparing the infrastructure for self-driving vehicles,” he added. 

Chairman of the International Road Federation, Abdullah bin Abdulrahman Al-Muqbil, was also present during the event. 

“To make roads safer for travel, we have harnessed modern technologies to sustain them and raise their efficiency,” Al-Muqbil said. 

The chairman said the federation has established effective partnerships with member states, including the Kingdom, which has led to enhanced safety and sustainability in the road sector and the adoption of modern technologies.


Abu Dhabi signs multi-sector agreements in US investment push

Abu Dhabi signs multi-sector agreements in US investment push
Updated 38 sec ago
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Abu Dhabi signs multi-sector agreements in US investment push

Abu Dhabi signs multi-sector agreements in US investment push

JEDDAH: The UAE strengthened its economic partnership with the US during a three-day visit to New York, where Abu Dhabi officials signed a series of agreements in technology, finance, energy, and manufacturing. 

The high-level delegation, led by Ahmed Jasim Al-Zaabi, chairman of the Abu Dhabi Department of Economic Development, met with US government officials and business leaders to boost trade and investment cooperation, according to the Emirates News Agency, also known as WAM. 

The visit witnessed the inking of agreements to enhance cooperation in sectors including startups, family businesses, and small and medium enterprises, as well as digital infrastructure, new energy, advanced manufacturing, and financial services. 

The two countries share a strong and growing economic relationship, with bilateral trade reaching $34.4 billion in 2024 — an 8.5 percent increase year on year — making the UAE the largest US trading partner in the Middle East, with trade spanning all 50 US states and supporting over 184,000 jobs. 

In a statement, Al-Zaabi said: “We are proud of our strong and evolving partnership with the US. This visit has enabled us to build more collaborative initiatives to harness new trends, mega shifts, and technological transformations witnessed by the global economy.” 

He added: “Backed by five decades of fruitful cooperation, our trade and investment ties with the US continue on an upward trajectory,” noting that mutual investments are also increasing and expanding, supercharging growth across various sectors and industries, and creating thousands of jobs. 

He emphasized that this growth reflects the depth and strength of their cooperation with the US and affirmed their commitment to further enhancing it, enabling businesses and investors to grow, thrive, and expand. 

In recent years, Abu Dhabi’s non-oil trade with the US has grown by 28.4 percent, while US companies operating in Abu Dhabi have seen a 52.9 percent compound annual growth rate, reflecting deepening ties in key economic sectors. 

According to a report released in May by the White House, US President Donald Trump announced over $200 billion in commercial deals between the two countries — bringing the total of investment agreements in the Gulf region to over $2 trillion. 

This builds on the UAE’s commitment to a 10-year, $1.4 trillion investment framework that will contribute to the US boom in AI infrastructure, semiconductors, energy, quantum computing, biotechnology, and manufacturing, as per the US official release. 

The New York event brought together 15 of Abu Dhabi’s largest listed companies from diverse sectors, with a combined market capitalization exceeding $300 billion, and featured more than 100 one-on-one meetings with leading US institutional investors managing assets of over $10 billion. 

The delegation included senior officials from Abu Dhabi’s public and private sectors, among them Ghannam Al-Mazrouei, chairman of the Abu Dhabi Securities Exchange Group, Hamad Sayah Al-Mazrouei, undersecretary of ADDED, and Badr Al-Olama, director general of the Abu Dhabi Investment Office. 


Egypt’s inflation eases to 10.3% in September as price pressures cool 

Egypt’s inflation eases to 10.3% in September as price pressures cool 
Updated 53 min 54 sec ago
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Egypt’s inflation eases to 10.3% in September as price pressures cool 

Egypt’s inflation eases to 10.3% in September as price pressures cool 

RIYADH: Egypt’s inflation slowed for a fourth consecutive month in September, easing to 10.3 percent year on year as consumer price pressures continued to moderate, official data showed. 

The Central Agency for Public Mobilization and Statistics said the Consumer Price Index rose 1.5 percent month on month to 260.9 points, driven mainly by higher housing and utility costs. 

Egypt’s inflation peaked at around 33.2 percent in September 2023 but has steadily eased since the government secured an $8 billion loan program from the International Monetary Fund in March 2024, which helped stabilize the currency and support policy reforms. 

In its latest release, CAPMAS stated: “Housing, water, electricity, gas and fuel section recorded an increase of 3.4 percent due to an increase in prices of the actual rental group of houses by 1.3 percent, calculated rent group of houses by 7.1 percent, and group of maintenance and repair of houses by 1.4 percent.”  

The report added that expenses for water and miscellaneous services related to housing increased by 0.2 percent, while electricity, gas, and fuel prices rose by 0.3 percent. 

Another key driver in September was the food and beverages sector, which increased by 1.9 percent. This section saw a 12.2 percent rise in vegetable prices, a 3.5 percent increase in fruits, and a 0.3 percent rise in meat and poultry expenses. 

The alcoholic beverages and tobacco segment witnessed a monthly rise of 0.8 percent, while the health care sector saw an increase of 0.4 percent. 

Within healthcare, outpatient service costs climbed 0.8 percent in September compared to the previous month, while hospital expenses rose 1 percent over the same period. 

On an annual basis, alcoholic beverages and tobacco prices surged 25.3 percent, followed by housing, water, electricity, and fuel, which went up 18.2 percent. 

The food and beverages category recorded a 0.3 percent increase year on year, while clothing and footwear costs advanced 14.4 percent during the same period. 

In February, global credit rating agency Moody’s affirmed Egypt’s Caa1 long-term foreign and local currency rating with a positive outlook. 

It stated that the positive outlook reflected the government’s measures to control inflation and interest rates. 

Earlier this month, Egypt’s Central Bank slashed interest rates by 100 basis points, marking the fourth reduction this year, citing subdued inflationary pressures amid economic growth of about 5 percent in the second quarter. 


Saudi Arabia’s POS transactions rise 26.4% to $4.30bn  

Saudi Arabia’s POS transactions rise 26.4% to $4.30bn  
Updated 08 October 2025
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Saudi Arabia’s POS transactions rise 26.4% to $4.30bn  

Saudi Arabia’s POS transactions rise 26.4% to $4.30bn  

RIYADH: Saudi Arabia’s point-of-sale transactions climbed to SR16.14 billion ($4.30 billion) in the week ending Oct. 4, representing a 26.4 percent rise compared to the previous seven days, driven by an increase in spending across the majority of sectors.  

According to the latest report released by the Saudi Central Bank, also known as SAMA, the number of transactions also grew by 14.3 percent to 252.99 million. 

The robust momentum in POS spending in Saudi Arabia reflects rising consumer confidence and the Kingdom’s ongoing digital payments transformation under the Vision 2030 initiatives. 

SAMA revealed that the food and beverages sector remained the top driver for POS spending at SR2.67 billion, representing a 44.5 percent rise compared to the previous week.  

Restaurants and cafes witnessed spending amounting to SR1.77 billion, up 12.1 percent, while transactions in the transportation sector rose by 28.1 percent to SR1.18 billion.  

Spending on apparel, clothing, and accessories rose by 20.5 percent to SR1.14 billion, followed by transactions in the health sector at SR1.06 billion, a 25.9 percent increase.  

Expenditure at gas stations reached SR1.13 billion, while professional and business services totaled SR1 billion. 

By contrast, spending on furniture and home appliances fell 4 percent to SR654.71 million. 

The central bank’s latest data show consumer confidence remains firm despite global economic headwinds, providing vital support to Saudi Arabia’s broader transformation agenda. 

In April, SAMA reported that non-cash retail transactions in the Kingdom reached 12.6 billion in 2024, up from 10.8 billion in 2023, highlighting the continued expansion of electronic payment systems across the Kingdom.  

It added that electronic payments accounted for 79 percent of total retail transactions in 2024, up from 70 percent in 2023. 

Geographically, Saudi Arabia’s capital city, Riyadh, recorded POS transactions totaling SR5.50 billion, representing a weekly rise of 20.8 percent.  

The number of transactions in Riyadh also increased by 12.2 percent to 82.02 million.  

In Jeddah, the total value of transactions amounted to SR2.13 billion, followed by Dammam at SR790.57 million, Madinah at SR621.01 million and Makkah at SR612.15 million.  

Alkhobar recorded POS transactions totaling SR453.30 million, while Buraidah and Abha stood at SR391.75 million and SR199.74 million, respectively.  


Saudi Arabia to invest in solar-powered desalination project in Senegal, says minister

Saudi Arabia to invest in solar-powered desalination project in Senegal, says minister
Updated 07 October 2025
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Saudi Arabia to invest in solar-powered desalination project in Senegal, says minister

Saudi Arabia to invest in solar-powered desalination project in Senegal, says minister

JEDDAH: Saudi Arabia is poised to sign an agreement to harness solar energy for a water desalination project in Senegal, alongside additional investments totaling €250 million ($291.57 million), Investment Minister Khalid Al-Falih said.

Al-Falih, leading a high-level Saudi delegation to the “Invest in Senegal Forum 2025” on behalf of Crown Prince Mohammed bin Salman, said the 300-megawatt photovoltaic project will be integrated with the desalination facility and other development initiatives. 

The delegation includes public sector representatives and 400 private sector delegates, with Saudi Arabia serving as the forum’s guest of honor.

According to the Observatory of Economic Complexity, Saudi exports to Senegal reached SR9.21 million in February 2025, while imports totaled SR105,000, resulting in a positive trade balance of SR9.1 million. Between February 2024 and February 2025, exports declined by SR1.28 million (12.2 percent), and imports fell by SR913,000 (89.7 percent).

Speaking in the presence of Senegal’s President Bassirou Diomaye Faye, Al-Falih said: “Senegal and Africa are a top priority for our external investments.” 

He expressed confidence that Saudi companies participating in the forum would soon announce new investments and partnerships in Senegal.

“Relations between Saudi Arabia and Senegal are historic, deeply rooted in Islamic brotherhood and shared values,” Al-Falih added, highlighting leadership-level visits since Senegal’s independence. He noted that Senegal’s Vision 2050 and the Invest in Senegal Forum signal a strong commitment to development and international partnerships.

The minister also highlighted Africa’s growing role in global investment, referencing Crown Prince Mohammed bin Salman’s announcement at the Saudi-African Summit of $25 billion in new investments across the continent.

Al-Falih detailed one of the Kingdom’s flagship initiatives: the Grande-Cote seawater desalination project. ACWA Power has signed an agreement to invest nearly €750 million to build a renewable energy-powered desalination plant, capable of supplying up to 400,000 cubic meters of potable water per day to Dakar and surrounding areas. 

“This project addresses climate change and advances energy transformation in Senegal,” he said.


Closing Bell: Saudi main index edges down to 11,583 

Closing Bell: Saudi main index edges down to 11,583 
Updated 07 October 2025
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Closing Bell: Saudi main index edges down to 11,583 

Closing Bell: Saudi main index edges down to 11,583 

RIYADH: Saudi Arabia’s Tadawul All Share Index edged down on Tuesday, as it shed 21.97 points, or 0.19 percent, to close at 11,583.23.  

The total trading turnover of the benchmark index was SR6.11 billion ($1.63 billion), with 85 of the listed stocks advancing and 154 retreating.  

The Kingdom’s parallel market Nomu also marginally declined by 0.08 percent to close at 25,520.62.  

The MSCI Tadawul Index edged down by 0.36 percent to 1,509.37.  

The best-performing stock on the main market was United International Holding Co. The firm’s share price advanced by 8.20 percent to SR174.20.  

The share price of Saudi Arabia’s budget carrier flynas rose by 4.29 percent to SR80.30. East Pipes Integrated Co. for Industry also saw its stock price edging up by 3.64 percent to SR130.90.  

Conversely, the share price of National Shipping Co. of Saudi Arabia, also known as Bahri, declined by 3.58 percent to SR28.  

The best-performing stock on the parallel market was Rawasi Albina Investment Co., as its share price increased by 19.10 percent to SR4.49.  

On the announcements front, SAL Saudi Logistics Services Co. said that it signed a lease agreement with Sela Co. for 1.57 million sq. meters of land in Falcon City, north of Riyadh, to develop a new logistics zone.  

According to a Tadawul statement, the total estimated investment for planning, construction, and operation of the logistics zone is projected to reach SR4.2 billion.  

The company added that the development aligns with its strategic plan to diversify sources of income and strengthen its presence in the transportation and logistics sector.  

The statement further said that the lease agreement is valid for 30 years, and is extendable to an additional 15 years upon agreement of both parties, along with a three-year grace period.  

The share price of SAL edged up by 1.31 percent to SR185.