Saudi Arabia unveils SR120bn business support war chest to fight virus pandemic

Saudi Arabia has suspended domestic flights, trains, buses and taxis for 14 days in a heightened effort to stop the spread of the COVID-19. (AFP)
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Updated 21 March 2020
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Saudi Arabia unveils SR120bn business support war chest to fight virus pandemic

  • Immediate steps to ensure the safety of its citizens and residents
  • The Kingdom would do whatever required to tackle the crisis, say health minister

JEDDAH: Saudi government ministers on Friday announced a war chest of more than SR120 billion ($32 billion) to fight the “unprecedented” health and economic challenges facing the country as a result of the killer coronavirus pandemic.

During a press conference in Riyadh, finance minister and acting minister of economy and planning, Mohammed Al-Jadaan, unveiled a SR70 billion stimulus package to support the private sector, especially small- and medium-sized enterprises (SMEs) and businesses worst-hit by the virus outbreak.

And the Saudi Arabian Monetary Authority (SAMA) has also sidelined SR50 billion to help the Kingdom’s banking sector, financial institutions and SMEs.

Al-Jadaan said the government had introduced tough measures to protect the country’s citizens while immediately putting in place a financial safety net. He added that the Kingdom was moving decisively to address the global COVID-19 disease crisis and cushion the financial and economic impact of the outbreak on the country.

The SR70 billion package of initiatives revealed by the minister will include exemptions and postponement of some government dues to help provide liquidity for private-sector companies.

Minister of Health Dr. Tawfig Al-Rabiah noted the raft of precautionary measures that had been introduced by the Kingdom in cooperation with the private sector and government agencies to combat the spread of the coronavirus, highlighting the important contribution of the data communication services sector.

He reassured the Saudi public that the Kingdom would continue to do whatever was required to tackle the crisis.

“This pandemic has a lot of challenges. It’s difficult to make presumptions at this moment as we’ve seen; many developed countries did not expect the rate of transmission of this virus.

“We see that the reality of the situation is different from what many expected. The virus is still being studied and though we know the means of transmission, it is transmitted at a very fast rate, having spread to many countries faster than expected.

“We see that many countries have not taken the strong precautionary measures from the beginning of the crisis which led to the vast spread of the virus in these countries,” Al-Rabiah said.

He pointed out that social distancing would help slow the spread.

Al-Jadaan said the Saudi government had the financial and economic capacity to deal with the situation. “We have large reserves and large investments, but we do not want to withdraw from the reserves more than what was already announced in the budget. We do not want to liquidate any of the government’s investments so we will borrow.

“We have approval from the government after the finance committee raised its recommendations to increase the proportion of the domestic product borrowing from 30 percent to 50 percent. We do not expect to exceed 50 percent from now until the end of 2022,” he added.

The government would use all the tools available to it to finance the private sector, especially SMEs, and ensure its ongoing stability.

The finance minister said that at this stage it was difficult to predict the economic impact of the pandemic on the private sector, but he emphasized that international coordination, most notably through G20 countries and health organizations, was ongoing.

On recorded cases of the COVID-19 disease in the Kingdom, Al-Rabiah said: “Many of the confirmed cases are without symptoms, this is due to the precautionary measures being considered.

“As soon as a case is confirmed, we contact and examine anyone who was in direct contact with the patient. This epidemiological investigation, is conducted on a large scale to investigate any case that was in contact with the patient.”

Al-Jadaan also announced the formation of a committee made up of the ministers of finance, economy and planning, commerce, and industry and mineral resources, along with the vice chairman of the board of the Saudi National Development Fund, and its governor.

The committee will be responsible for identifying and reviewing incentives, facilities, and other initiatives led by the fund.

Committees had also been established, said Al-Jadaan, to study the impact and repercussions of the coronavirus crisis on all sectors and regions, and look at ways of overcoming them through subsidies or stimulus packages.

 
 


KSrelief continues humanitarian efforts in Yemen, Sudan, and Lebanon

Updated 27 July 2024
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KSrelief continues humanitarian efforts in Yemen, Sudan, and Lebanon

RIYADH: Saudi aid agency, KSrelief, continued efforts to help vulnerable individuals and families this week in Yemen, Sudan and Lebanon, the Saudi Press Agency reported on Friday.

In Yemen, KSrelief distributed 90 food packages in Lahij Governorate, and 100 tents, 270 shelter bags and 618 food parcels in Marib.

In Sudan, the agency handed out 900 food packages to the displaced and neediest families in River Nile State, benefiting 5,177 individuals.

KSrelief continued implementing the Al-Amal Charitable Bakery project in Akkar Governorate and Al-Minieh District, north of Lebanon.

In its fourth phase, the project distributed from July 18-24 about 25,000 bags of bread daily to needy Syrians, Palestinians and the host community living in Northern Lebanon, benefiting 12,500 families.


Aqabat Shaar: Iconic Saudi mountain road a lifeline for Asir’s rugged beauty

Updated 27 July 2024
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Aqabat Shaar: Iconic Saudi mountain road a lifeline for Asir’s rugged beauty

  • The road through Aqabat Shaar connects the highlands of Sarat Asir with the coastal plain of Tihama
  • It is a vital conduit for travel, commerce, and tourism, connecting communities while showcasing the natural splendor of the region

RIYADH: Nestled in the heart of Saudi Arabia's southwestern region of Asir, Aqabat Shaar is one of the most iconic highways, celebrated for its breathtaking natural scenery and vital tourist attractions.
This mountainous area, known for its rugged terrain, used to pose significant challenges to access and mobility, which led to the creation of a road that has become indispensable to residents and visitors alike, linking the region to neighboring areas and governorates.

This monumental project involved cutting through solid rock, creating 11 tunnels, and erecting 32 bridges, resulting in a road approximately 14 kilometers long. (SPA)

A mere 23 kilometers from Abha city, the road through Aqabat Shaar connects the highlands of Sarat Asir with the coastal plain of Tihama. This crucial artery not only reduces travel time, but also plays a pivotal role in bolstering tourism in the region. Furthermore, it enhances the Kingdom’s standing as a global logistics hub by facilitating the seamless movement of trucks transporting a wide array of goods.
The construction of Aqabat Shaar began over 40 years ago, under the reign of the late King Fahd bin Abdulaziz. This monumental project involved cutting through solid rock, creating 11 tunnels, and erecting 32 bridges, resulting in a road approximately 14 kilometers long. The endeavor was a marvel of engineering at the time, designed to navigate the challenging topography and ensure reliable access.
The road recently underwent significant development to enhance its utility and safety. The Roads General Authority spearheaded a comprehensive maintenance project incorporating the latest international technologies and standards. This effort entailed a temporary closure of the road, which reopened last year to much acclaim.

Aqabat Shaar is not just a road, it is a testament to human ingenuity. (SPA)

The recent maintenance work on Aqabat Shaar focused on achieving the highest standards of quality and safety. Enhancements included the installation of modern lighting, clear road markings, informative signs, and warning vibrations. Additionally, concrete barriers were erected to improve road safety, ensuring that the road meets the increasing demands of the region’s expanding network.
Aqabat Shaar is not just a road; it is a testament to human ingenuity and determination carving a path through some of the most formidable terrain in Asir. It is a vital conduit for travel, commerce, and tourism that serves and connects communities while showcasing the natural splendor of the region.
As it evolves with ongoing developments, Aqabat Shaar remains a beacon of progress, illuminating the way forward for Asir's dynamic future.
 


ThePlace: Wadi Wajj, Taif’s historic water oasis

Updated 27 July 2024
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ThePlace: Wadi Wajj, Taif’s historic water oasis

  • Once a geographical divider splitting the city of Taif in two, it has evolved into a popular tourist destination

TAIF:  Wadi Wajj, a revered valley in Saudi Arabia's western governorate of Taif, boasts a rich tapestry of history and natural beauty.

Once a geographical divider splitting the city of Taif in two, it has evolved into a popular tourist destination renowned for its lush gardens, vibrant orchards, and breathtaking panoramas.
Professor Saleh Al-Khalif, an expert in Islamic history and civilization, said Wadi Wajj's has played a vital role in agriculture and its proximity to Makkah accounts for its historical significance.

Wadi Wajj's abundant springs provide a constant water supply throughout the year. (SPA)

The region's ancient irrigation systems, including hundreds of springs and wells, are a testament to its innovative water management practices.
Wadi Wajj's water resources have been instrumental in the area's development, fostering agriculture and infrastructure.

The valley's enduring springs continue to irrigate farms and support the local economy, underscoring its enduring importance to Taif.
 


Saudi Arabia joins 80 countries in historic deal on e-commerce

Updated 26 July 2024
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Saudi Arabia joins 80 countries in historic deal on e-commerce

  • First digital global rules include recognition of e-signatures and protection against online fraud
  • The agreement also includes a component providing preferential treatment to developing countries

JEDDAH: About 80 countries including Saudi Arabia reached a historic agreement on Friday on rules governing global digital commerce, including recognition of e-signatures and protection against online fraud.

“We negotiated the first global rules on digital trade,” EU trade chief Valdis Dombrovskis said after the deal in Geneva following five years of negotiations.“This will facilitate e-transactions, boost innovation, and integrate developing countries into the digital economy,” he said.

Britain said the agreement would commit all participants to making customs documents and processes digital and recognizing e-documents and e-signatures, and put in place legal safeguards against online fraudsters and misleading claims about products.

Once in place, the deal “will make trade faster, cheaper, fairer and more secure,” Britain said in a statement.

The text of the agreement says the parties will seek to limit spam and protect personal data, as well as offer support to least-developed countries.
Ninety-one of the World Trade Organization’s 166 members took part in the negotiations, including Saudi Arabia, China, Canada, Argentina and Nigeria.
Digital commerce is growing far faster than its traditional counterpart.
The OECD group of economically developed nations says it estimated that in 2020, e-commerce already made up a quarter of global trade, making it worth just under $5 trillion.
Despite its growing importance, “no common set of global rules exist,” said British Trade Secretary Jonathan Reynolds.
Finalizing the negotiations “is a huge step forward in correcting that and ensuring British businesses feel the benefit.”

The talks were launched in 2019, with around 90 negotiating countries — representing 90 percent of the WTO membership — including heavy-hitters like the United States, the European Union and China.
Australia, Japan and Singapore, which have jointly been leading the Initiative on Electronic Commerce talks, presented a joint statement during a closed-door meeting at the WTO confirming that “after five years of negotiations, participants had achieved a stabilized text.”
But actual implementation of a deal could still be years off.
A small number of negotiating countries have yet to sign on, including the United States, Brazil, Indonesia and Turkiye, the declaration said.
“The text released today ... represents an important step forward for the WTO in a sector of growing importance to the global economy,” US ambassador and Deputy US Trade Representative Maria Pagan said in a statement.
But the United States considers that “the current text falls short and more work is needed,” she said, pointing in particular to an “essential security exception.”
The co-conveners of the talks have in recent months stressed the importance of landing a deal, stressing it could facilitate electronic transactions, promote digital trade and foster an open and trusted digital economy.
“This would be the first-ever set of baseline digital trade rules,” Singapore’s ambassador to the WTO Tan Hung Seng said in April.
“It would contribute to the growing e-commerce in our countries by providing greater legal predictability and certainty, against the backdrop of increasing regulatory fragmentation,” he said.
In Friday’s statement, UK Science Secretary Peter Kyle said the agreement aimed “to help people use technology safely by protecting them from fraud, while driving economic growth through the digitalization of trade so it’s faster and more secure.”

Preferential treatment

The agreement also includes a component providing preferential treatment to developing countries.
In addition to paving the way for digitalising customs documents and processes, the text also seeks to make permanent a long-held moratorium exempting electronic transactions from customs duties.
The moratorium has been in place since 1998, and has been extended at each WTO ministerial meeting since. It is currently set to expire in 2026.
“Once in force the agreement will permanently ban customs duties on digital content,” the British statement said.
The aim is to incorporate the digital trade rules into the WTO legal framework, but that would require consensus backing from all members, including those not part of the deal.
That could be tricky at a time when countries like India and South Africa are balking at what they see as a proliferation of plurilateral agreements within the WTO rather than the all-but-impossible multilateral deals backed by all members.
One solution, observers say, could be for the signatories to move the agreement to another international body. But if they do that, they would not be able to rely on the WTO’s mechanism for resolving trade disputes.

(With Agencies)


Saudi ballet star, 18, dances to inspire dreams

Updated 27 July 2024
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Saudi ballet star, 18, dances to inspire dreams

  • Halaa Nagadi desires to represent Kingdom on world stage
  • Hopes others ‘embrace this beautiful and expressive art form’

RIYADH: Saudi Arabia ballet dancer Halaa Nagadi, 18, is captivating audiences with her unwavering passion and hopes others would be inspired to “embrace this beautiful and expressive art form.”

She is currently preparing for the 2024 Dubai International Dance Competition set to start on Nov. 17 that will have professional and amateur dancers participating from all over the world.

“I became interested in ballet when I was on a journey to find a dance form that truly resonated with me,” Nagadi told Arab News. “The way ballet dancers could convey such powerful emotions and narratives through their bodies was simply captivating.”

Halaa Nagadi is currently preparing for the 2024 Dubai International Dance Competition set to start on Nov. 17 that will have professional and amateur dancers participating. (Supplied)

From a young age, Nagadi was mesmerized by the graceful movements and emotive storytelling of ballet, and she has pursued her dream with determination.

“One of my greatest goals is to represent Saudi Arabia on the international ballet stage,” Nagadi said. “I want to showcase the talent and artistry that exists within our country, and inspire others to embrace this beautiful and expressive art form.”

FASTFACTS

• Though ballet may not have been a typical path for a young Saudi Arabia woman, Nagadi was undeterred.

• She immersed herself in studying ballet, first through online videos and then by seeking out local and international training opportunities.

Though ballet may not have been a typical path for a young Saudi Arabia woman, Nagadi was undeterred. She immersed herself in studying ballet, first through online videos and then by seeking out local and international training opportunities.

“Balancing my studies in tourism and event management at King Abdulaziz University with my rigorous ballet training has not been an easy task,” Nagadi revealed.

“But I’ve remained steadfast in my pursuit, spending four to eight hours each day honing my skills, whether it’s at the ballet studio or the gym, ensuring that I am constantly improving and pushing the boundaries of my craft.”

Nagadi’s journey has not been without its challenges, however. Finding suitable ballet facilities in Saudi Arabia has been a significant hurdle, and sourcing specialized equipment is proving to be an ongoing obstacle, she explained.

Undaunted, Nagadi has sought out opportunities abroad, including a summer program in Romania and a ballet performance opportunity in Turkiye.

“I also took a masterclass for professional dancers from the principal of the Royal Ballet in London,” she added.

Nagadi’s dedication and passion have not gone unnoticed locally. “I have received the support of the Saudi Ministry of Culture, who have provided me with opportunities to showcase my talents at local events, such as the Taif Rose Festival and a theatrical performance that fused Arabic music with ballet,” she said.

As Saudi Arabia’s arts and culture scene continues to evolve, the ballet talent envisions a future where the dance form will flourish and draw audiences from across the Kingdom.

“I believe the ballet scene in Saudi Arabia will only continue to grow and develop,” she said. “More and more people are becoming interested in learning and practicing this art form.”

Nagadi’s unwavering determination has not only earned her recognition within the Saudi Arabia arts community but has also inspired a new generation of young people to explore the world of ballet.

Her story is a reminder that with hard work, dedication, and a willingness to challenge societal norms, anything is possible.