Saudi Red Sea tourism plan to clinch a $3.7bn green loan

A competitor rides by the Red Sea during the Stage 9 of the Dakar 2021 around Neom, Saudi Arabia, on January 12, 2021. (AFP/File)
Short Url
Updated 20 April 2021
Follow

Saudi Red Sea tourism plan to clinch a $3.7bn green loan

RIYADH: Saudi Arabia is weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reported.
The Red Sea Development Co.’s SR14 billion ($3.7 billion) loan is set to close with a small group of local banks including Saudi National Bank, Banque Saudi Fransi, Riyad Bank and Saudi British Bank, the newswire reported, citing people familiar with the matter.
The deal to help fund the first phase of the development will be a so-called green loan. The proceeds will be used to finance environmentally sustainable investment, the people said, asking not to be identified as the information is private. It will have a tenor of 15 years and an interest rate of about 1 percent above the Saudi interbank offered rate, they said.
The company first started approaching banks for the loan in mid-2019, Bloomberg said.
Opening to tourism is one of the ways Saudi Arabia intends to diversify the economy away from oil. Its other ambitious projects include an entertainment hub near the capital Riyadh, and the new NEOM city in the north-west, which is expected to cost $500 billion to build.
The Red Sea Development, owned by the Kingdom’s sovereign wealth fund, will oversee a luxury tourism zone equivalent in size to Belgium. When the entire project is completed in 2030, it will target 1 million visitors a year, split evenly between domestic and international tourists.
Construction of a new international airport for the area has begun, and the first phase of the project is due to be completed with the opening of four hotels at the end of 2022.
12 more hotels will be open the following year, Chief Executive Officer John Pagano said in an interview in November.


Focus on emerging filmmakers at 11th Showreel Effat International Student Film Festival

Updated 7 sec ago
Follow

Focus on emerging filmmakers at 11th Showreel Effat International Student Film Festival

  • The event included films by young Saudis and their peers from around the world, plus seminars and workshops presented by industry insiders

JEDDAH: Effat University’s School of Cinematic Arts in Jeddah welcomed aspiring filmmakers and cinephiles to the 11th Showreel Effat International Student Film Festival this week.

The theme for the three-day event, which concluded on Thursday, was “Behind the Seen,” reflecting the aim of organizers to shed light on the creative process and less-visible aspects of filmmaking. The program included a diverse range of cinematic offerings celebrating the work and talent of student filmmakers, not only those studying at the school but also their peers around the globe.

Mohammed Ghazala, head of the School of Cinema Arts, set the scene with an overview of the works featured during the festival, at the heart of which were films created by students and graduates of the school, which has been a pioneer in film and animation education in the Kingdom.

Alongside the home-grown talent, the festival provided a showcase for an impressive selection of international student films. These were carefully curated from a pool of 2,150 submissions from more than 115 countries, which were whittled down to a final selection of 57 exceptional works from 27 nations: Saudi Arabia, Egypt, Lebanon, Tunisia, Yemen, Morocco, Turkey, France, Belgium, Japan, Italy, Estonia, the Czech Republic, the US, China, New Zealand, Singapore, Canada, Taiwan, Russia, Greece, Spain, Poland, India, Indonesia, Mexico and Pakistan.

The chosen films competed for awards in seven categories, including Best Saudi Feature Film, Best International Animated Film, and the prestigious Audience Award.

In addition to providing a platform for emerging filmmakers to showcase their talent and creativity, organizers said the festival also aims to foster cultural exchanges and celebrate the art of cinema on a global scale.

Integral to this is a commitment to nurturing talent and encouraging dialogue within the industry, which was reflected in a series of seminars and workshops led by industry professionals. Effat University lecturer and festival coordinator Marina Ivanseva gave an overview of the sessions, which offered insights into a wide spectrum of topics key to the craft.

They included sessions on a creative cinematic post-production workshop supported by video-streaming service Netflix, cinematography workshops conducted by film camera manufacturer ARRI, and a visual effects workshop backed by specialist studio VFX Mojo.

They were presented by renowned figures and industry insiders such as Saudi artist Sarah Taibah, Oscar-winning German director Thomas Stelmach, British professor Rut Luxemburg, American visual effects artist Matt Beck, and cinematographer James Niehaus.

There were also lectures on animation and experimental film presented by the Royal College of Arts in London, while Stellmach offered insights into his professional journey that led to the Oscars. Saudi producer Nadia Malaika shared valuable career insights, Egyptian lawyer Khaled Al-Arabi discussed legal rights in filmmaking, and Mohammed Sobeih looked at the creation of animated films using Toon Boom software. The festival concluded with a session focusing on animated cinema presented by Synergy University.

“We were thrilled to welcome numerous local and international guests who shared their cinematic experiences with us … during the 11th Showreel Effat International Student Film Festival,” said Asmaa Ibrahim, the dean of Effat College of Architecture and Design.

“Students from Dar Alhekma, King Abdulaziz, and Princess Noura (universities) in Riyadh joined us in celebration. It was a delight to host guests from prestigious institutions such as the Royal College of Art, Netflix, Maflam, Film Association and VFX Mojo, who conducted exceptional workshops. The interactive discussions were engaging and we appreciate the participation of everyone.”

Karim Sahai, a visual effects professional from France, said: “I’m proud to have been a part of this incredible festival, with such a fantastic audience and remarkable guests from all over.

“The quality of their engagement and the depth of their questions during my workshop surpassed my expectations. I truly believe I’ll return to bask in this energy once more; it’s truly inspiring.”

Beyond artistic appreciation, organizers said another aim of the festival is to help forge academic and strategic partnerships, and Effat University has built alliances with institutions such as the University of Southern California and the Red Sea Film Festival Foundation with the goal of fostering collaboration and exchange of knowledge on a global scale.


Investigation clears coalition on claims of rights violations at Yemen sites

Updated 19 min 3 sec ago
Follow

Investigation clears coalition on claims of rights violations at Yemen sites

  • Report details three incidents, including claims that coalition forces targeted two houses in the Sha’aban area, a civilian house in Al-Hudaydah governorate, and Al-Ghail Health Center
  • Investigation concluded that the coalition carried out an air mission on a military target, 4.5 km away from the coordinates of the claimed two houses, using one guided bomb that hit its target

RIYADH: The Joint Incident Assessment Team held a conference in Riyadh on Wednesday to announce the results of investigations into allegations against coalition forces in Yemen. 

The report details three incidents, including claims that coalition forces targeted two houses in the Sha’aban area, a civilian house in Al-Hudaydah governorate, and Al-Ghail Health Center in Al-Ghail. 

Team spokesman Mansour Al-Mansour said that “with regards to what was stated in the ninth periodic report on the works of the National Commission to Investigate Alleged violations to Human Rights in Yemen (NCIAVHR) on Dec 11, 2017, the Coalition Forces targeted G.J house and M.J. house in Sha’aban area in Razih directorate of Sa’ada governorate, the targeting resulted in the destruction of the two houses, killing and injuring number of people, and the destruction of two cars.” 

Al-Mansour, said that the investigation had concluded that the coalition forces carried out an air mission on a military target, 4.5 km away from the coordinates of the claimed two houses, using one guided bomb that hit its target. 

Regarding the allegation that the coalition targeted a civilian house in Al-Jirahi directorate of Al-Hudaydah governorate on Dec. 1, 2021, and that one man and two children were injured in the strike, JIAT found that the coalition did not carry out any air missions in the whole of the governorate. 

JIAT also exonerated the coalition over a report issued by Physicians for Human Rights which stated that on Feb. 24, 2016, coalition forces aircraft dropped three munitions on Al-Ghail Health Center in Al-Ghail directorate of Al-Jawf governorate.

At the time, Houthi militia were occupying the site and using it as a military center. The building was partially destroyed in the attack. 

In response to the allegation, JIAT found that coalition forces carried out an air mission on a military target, consisting of a gathering of fighter elements belonging to the Houthi militia, in a vacant area, 2.9 km away from Al-Ghail Health Center, using one guided bomb that hit its target.


Foreign minister of Yemen’s internationally recognized government received by Saudi counterpart

Saudi FM Prince Faisal bin Farhan receives his Yemeni counterpart Shaya Mohsin Al-Zindani in Riyadh on Thursday. (SPA)
Updated 35 min 4 sec ago
Follow

Foreign minister of Yemen’s internationally recognized government received by Saudi counterpart

  • Yemen’s internationally recognized Presidential Leadership Council appointed Al-Zindani as foreign minister in late March

RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan received his Yemeni counterpart Shaya Mohsin Al-Zindani in Riyadh on Thursday.

Prince Faisal congratulated Al-Zindani on his recent appointment as foreign minister by Yemen’s internationally recognized Presidential Leadership Council at the end of March, and wished him success in the role. 

During the meeting, the two ministers reviewed aspects of bilateral relations and ways to strengthen and develop them in various fields. They also discussed topics of common interest.


Saudi Arabia launches witness protection center

Updated 25 April 2024
Follow

Saudi Arabia launches witness protection center

  • Attorney General Sheikh Saud Al-Mojeb approved the establishment in line with Article Four of the Law for the Protection of Whistleblowers, Witnesses, Experts and Victims
  • Criminal penalties for those who harm witnesses under protection include up to three years’ imprisonment and fines of up to SR5 million

RIYADH: Saudi Arabia has launched a new center to protect whistleblowers and witnesses to crimes that will begin operations in July.

Attorney General Sheikh Saud Al-Mojeb approved the establishment in line with Article Four of the Law for the Protection of Whistleblowers, Witnesses, Experts and Victims.

The center will provide legal protection from threats, danger, or harm through methods stipulated in Article Fourteen of the Law, including security, as well as identity and data anonymization.

Victims can be transferred from their place of work, temporarily or permanently, and provided with alternative employment, as well as legal, psychological and social guidance.

The protection also includes provisions for security escorts and financial assistance.

Witnesses and whistleblowers can submit protection requests according to specific conditions, and can be assisted by the center without requesting help if in imminent danger.

Criminal penalties for those who harm witnesses under protection include up to three years’ imprisonment and fines of up to SR5 million ($1.3 million).

Tariq Al-Suqair, an accredited lawyer, told Arab News: “Each state has a duty to establish procedures that provide measures for the protection of people whose cooperation with the justice system in an investigation may put them at risk of physical harm.”

Saudi Arabia, which ratified the UN organized crime convention in 2005, has domestic laws that mandate protective measures for victims and witnesses of crime, he added.

Al-Suqair said that the Kingdom’s latest measures operate in accordance with Article 24 of the convention, which calls for effective protection for witnesses from retaliation or intimidation.

Saudi Arabia’s Public Prosecution has proposed an executive body to run the center and its witness protection program.

“It is expected that once the program starts, we will witness more effective control to combat sophisticated organized crimes,” Al-Suqair said.


KSrelief signs agreement with Majmaah University

Agreement was signed at center’s headquarters by KSrelief’s Dr. Aqeel Al-Ghamdi and Majmaah University’s Mosallam Al-Dosari.
Updated 25 April 2024
Follow

KSrelief signs agreement with Majmaah University

  • Deal aims to foster cooperation in humanitarian research and boost participation from both sides in conferences, workshops, meetings, and exhibitions

RIYADH: Saudi humanitarian aid agency KSrelief signed on Thursday a deal with Majmaah University to cooperate in several areas.

The agreement was signed at the center’s headquarters in Riyadh by Dr. Aqeel Al-Ghamdi, assistant supervisor general director for planning and development at KSrelief, and Dr. Mosallam Al-Dosari, vice-rector for development and investment.

The deal aims to foster cooperation in humanitarian research and boost participation from both sides in conferences, workshops, meetings, exhibitions, and other events related to the field. The two parties are also exploring the possibility of holding a workshop on humanitarian research and studies on the sidelines of the Riyadh International Humanitarian Forum, organized by KSrelief every two years.

Moreover, the memorandum aims to promote cooperation in volunteering by leveraging the university’s cadres, competencies, and CIFAL center, a UN-affiliated training hub that educates government authorities and civil society leaders on sustainable development and other UN goals.

The memorandum will also allow for the two entities to share consultancy services on relief and humanitarian work, draw on each other’s experiences, and benefit from capacity-building programs provided by the university’s CIFAL center.

The agreement comes in line with the Saudi Vision 2030 objectives, which encourage cooperation between various national actors and the promotion of humanitarian action in the Kingdom.