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Every spring, roses bloom in the western Saudi city of Taif, turning pockets of the Kingdom’s vast desert landscape a vivid and fragrant pink.
In April, they are harvested for the essential oil used to cleanse the outer walls of the sacred Kaaba in Makkah.
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RIYADH: Saudi Arabia’s car imports in 2023 hit 93,199, utilizing all modes of transportation — land, sea, and air — reflecting nearly a 40 percent growth from the previous year.
In the last two years, the Kingdom has imported a total of over 160,000 cars, with 66,870 imports recorded in 2022 alone, according to Hamoud Al-Harbi, the spokesperson for the Zakat, Tax, and Customs Authority, reported Saudi Press Agency.
This positions Saudi Arabia as one of the largest markets globally for automobiles, accounting for more than half of the car sales in the Gulf Cooperation Council countries, and ranking among the top 20 markets worldwide.
According to the authority’s spokesperson, cars were primarily imported from Japan, India, South Korea, the US, and Thailand to the Kingdom during the past two years.
Wael Al-Dhayyab, the official spokesperson for the Saudi Standards, Metrology, and Quality Organization, underscored the rigorous efforts undertaken by the Vehicle Inspection Unit in 2023. They inspected 60,473 vehicles to uphold the highest technical and safety standards.
Concurrently, 18,150 energy efficiency certificates were issued for tire products, highlighting SASO’s commitment to ensuring tire quality and safety in the Saudi market.
Al-Dhayyab emphasized that these endeavors demonstrate the organization’s dedication to enforcing stringent standards, fostering tire quality, and safety.
Moreover, he stressed the body’s pivotal role in advancing energy efficiency and endorsing initiatives aimed at enhancing product safety and economic growth.
Additionally, Al-Dhayyab noted a significant milestone in 2023, with SASO awarding 172 conformity certificates for electric vehicles, witnessing a 465 percent surge from the previous year.
This emphasizes the organization’s crucial role in facilitating the shift toward sustainable energy adoption.
Furthermore, he pointed out that the body issued 1,505 fuel efficiency cards for new light vehicles, indicating its commitment to promoting eco-friendly transportation solutions.
The surge in the import of motor vehicles led to Saudi banks witnessing a 7.67 percent increase in letters of credit to the private sector in the first 11 months of 2023, compared to the same period the previous year.
The data, released by the Saudi Central Bank, revealed that settled LCs and received bills to this sector hit SR155.19 billion ($41.38 billion).
LCs, a financial document issued by a bank, guarantee payment to the seller upon fulfilling specified conditions in a trade transaction.
The growth is primarily attributed to an upsurge in the import of motor vehicles, accounting for around 75 percent of the overall increase.
The import value in this category reached SR39.7 billion, marking a 26.29 percent increase, the data showed.
ALULA: Saudi competitors dominated the first World Camel Endurance Championship for men and women in AlUla, which was held in partnership with the Royal Commission for AlUla Governorate.
The Saudi racers took the first three places and the championship cups in the first and second rounds of the men’s event. Fares Al-Juhani on Bayan won in a time of 15 minutes 54.27 seconds, with Nayef Al-Faydi riding Munadi second in 32:05.84, and Sulaiman Al-Huwaiti on Motaeb third in a time of 32:11.6.
In the women’s category, Saudi racer Kholoud Al-Shammari on Jabbar took first place with a time of 36:59.91, with the second and third places filled by a Jordanian and a German rider respectively.
Competitors representing 20 countries participated in the championship, with the 16 km races split into two 8 km stages, with a 30-minute break in between. After the first stage, 20 male competitors and 15 women qualified for the final stage, and the result was calculated according to times set across the two stages.
The value of the tournament prizes exceeded SR2 million ($533,333), with the winner in the men’s and women’s categories receiving SR500,000, while the balance of the prize pool was distributed between 10 runners-up in the men’s category and 10 runners-up in the women’s category.
LONDON: Turkiye has applied to have the doner kebab protected under EU law, Metro newspaper reported.
The bloc famously enforces strict regulations on certain foods — including French Champagne, Spanish Serrano ham and Neapolitan pizza — in order to safeguard their production and preserve regional culinary heritage.
Issues including the sourcing of ingredients, method and place of production all go into determining what can and cannot be labeled as a protected food, with harsh penalties for those found to be profiting from items deemed not to match the legal criteria.
The doner kebab will undergo a three-month evaluation process to determine whether it too will join the exclusive list of dishes and foodstuffs.
During the process, other countries will be permitted to challenge the application over similarities to their own products, as happened in 2021 when Italy voiced opposition to the Croatian sparkling wine Prosek receiving protected status due to its apparent similarities to Prosecco.
Traditionally formed of meat marinated in salt, pepper, a number of other herbs and spices as well as tomato puree and yoghurt, the doner kebab can contain beef, lamb or chicken.
It is placed on a skewer and rotated against a fire, with thin strips sliced off and served in a flatbread or pitta with lettuce, tomato and onion.
Beef and lamb slices should be 3-5 mm in thickness, while chicken should be thinner at 1-3 mm per slice.
The dish is believed to be worth around $3.6 million annually to Europe’s economy, according to the Association of Turkish Doner Producers.
SRINAGAR, India: An Indian air force member was killed and four more injured when suspected rebels ambushed a military convoy in Indian-administered Kashmir, an official statement said, as campaigning for national elections continues in the disputed territory.
The convoy was attacked by an unknown number of armed militants who sprayed automatic rifle fire toward at least one air force truck in the mountainous Poonch area, 200 kilometers (124 miles) south of the main city of Srinagar, the air force said in a statement.
Five air force personnel were hit in the firefight late Saturday and “one Air Warrior succumbed to his injuries later,” it said, identifying the dead man as a corporal.
A neighboring constituency took part in the first phase of India’s general election on April 19, and Poonch voters were originally scheduled to cast their ballots this week but the Election Commission of India has postponed the polling to May 25 because of inclement weather in recent days.
Kashmir has been divided between India and Pakistan since their independence in 1947, with both claiming the high-altitude territory in full but administering it in parts.
Since 1989, rebel groups opposed to Indian rule have waged an insurgency in Indian-controlled Kashmir, demanding either independence or a merger with Pakistan.
The conflict has left tens of thousands of civilians, soldiers and militants dead.
Rebel activity in the territory has registered an uptick since last month as campaigning for the elections picked up in the restive region.
In April, three suspected rebels were killed and a police officer and three soldiers wounded in three separate clashes across the territory.
Violence has drastically dropped since 2019, when Prime Minister Narendra Modi’s government revoked the region’s limited autonomy and stepped up a security chokehold.
Voting in India’s six-week-long national election, which started last month, will end on June 1.
RIYADH: Brazil’s biofuel market is set for substantial growth as UAE’s Mubadala Capital has committed to invest $13.5 billion over the next decade.
Oscar Fahlgren, head of Brazil strategy at the sovereign wealth fund, disclosed the budget for the initiative during an interview with the Financial Times. He divulged the details of the fund’s plans to produce renewable diesel and sustainable aviation kerosene primarily utilizing non-food plant matter.
In his interview with the newspaper, Fahlgren said Mubadala’s Brazilian subsidiary, Acelen, will initiate the development of a large-scale biofuel project by 2026.
The fund’s executive stated that the funds will be sourced through a blend of equity and debt over a span of five to 10 years.
The endeavor will encompass five modules, each valued at $2.7 billion, housing a new biorefinery capable of processing 20,000 barrels of fuel per day. Additionally, it will include the necessary infrastructure and cultivated acreage to sustain the input crop.
“It’s all about feedstock (which) in reality is agriculture. And Brazil is probably the best-placed country on the planet when it comes to agricultural proficiency because of the climate and the fertile soil,” said Fahlgren, adding, “Brazil is to agriculture what Abu Dhabi is to oil.”
The project will also include the conversion of an existing oil refinery in the northeastern Brazilian state of Bahia acquired from government-owned Petrobras in 2021.
“It’s a very important capital project,” Fahlgren said. “I see tremendous opportunity to invest in the green energy transition space in Brazil,” he added.
Mubadala’s venture into bioenergy will leverage its existing $6 billion investments in the country, constituting approximately a quarter of the group’s global portfolio.
“We’ve been very active investing in Brazil, for the past 10-plus years, in an environment where most foreign investors have been shying away,” Fahlgren said.
Mubadala also plans to open a stock exchange in Brazil next year through its Americas Trading Group.
“Brazil is a very large country. It has only one stock exchange. And I think that’s suboptimal infrastructure for the players that operate in this segment,” said Fahlgren.
“It will probably be a staged launch — perhaps start with equities, then expand. No asset classes are off the table.”
The asset management arm of the Emirati sovereign wealth fund is increasing its bets on Latin America’s largest economy, where its holdings span metro lines and medical universities to a majority stake in the local owner of the Burger King brand.
“We’re very bullish on the investment climate in Brazil right now and the opportunities we see,” said Fahlgren. “We do have a number of assets that are relatively mature today, and could be potential exit candidates in the not-too-distant future,” he added.
