Day: October 1, 2024

His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah sent on Tuesday a cable to President of China Xi Jinping, congratulating him on his country’s national day.

Source: Kuwait News Agency

Mohammed bin Salman Foundation (Misk) has signed a memorandum of understanding with Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia).

The memorandum was signed by Misk Foundation Deputy CEO Eng. Omar bin Mohammed Najjar and Vice President and head of the Smart City Innovation Group at Hyundai Motor and Kia Jae-yong Lee.

The agreement stipulates that Hyundai Motor and Kia will collaborate with Misk Foundation to develop the Misk Traineeship Program designed to create international learning opportunities for Saudi youths, offering them exposure to Hyundai Motor and Kia’s innovative technologies and global expertise.

This initiative aligns with the partners’ shared vision of empowering the next generation and contributing to the Kingdom’s knowledge-based economy.

While the focus remains on youth development, Hyundai Motor and Kia will also explore areas of collaboration with Misk City in smart city applications. This will give the opportunity to study and demonstrate new technologies at Misk C
ity, and potentially utilize the city’s various event venues for future initiatives.

The agreement is part of Misk foundation’s endeavor to support the youth and create programs that improve the skills of young people and develop their innovative abilities, thus contributing to achieving sustainable economic growth.

Hyundai Motor and Kia will also participate in the upcoming Misk Global Forum. Through MGF, the two companies will engage with young leaders and startups sharing their insights into the future of mobility and sustainable solutions.

Source: Saudi Press Agency

His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah sent on Tuesday a cable to President of China Xi Jinping, congratulating him on his country’s national day.

In the cable, His Highness the Amir wished the Chinese President lasting health and wellness, and further progress and prosperity for his country and people.

Source: Kuwait News Agency

During his official visit to Canada, Minister of Industry and Mineral Resources Bandar Alkhorayef explored the latest financial technologies at the Toronto Stock Exchange (TSX) and commodity indices rich in energy and minerals. This visit aligns with the Kingdom’s goal of becoming a global mineral supplier and establishing a commodity exchange.

At the TSX, Alkhorayef met with officials from the TMX Group, the exchange’s owners and operators. He was briefed on the exchange’s history and operations, which involve listing securities such as stocks, bonds, and investment funds.

In discussions with TSX CEO Loui Anastasopoulos, Alkhorayef explored opportunities to utilize Canada’s expertise in financial and energy markets. This aligns with Saudi Vision 2030’s goals to elevate the mining sector as a key element in diversifying the national economy and positioning the Kingdom as a global mineral supplier. They also reviewed the objectives of the comprehensive mining strategy and the National Minerals Program.

In a
meeting with TMX Group CEO John McKenzie, discussions focused on digital financial technologies for TSX trading. Alkhorayef highlighted the Future Minerals Forum’s role in fostering global mining industry dialogue and sustainable solutions, inviting TSX and TMX Group officials to attend the upcoming forum in early 2025.

These engagements are part of the minister’s official visit to Canada, which will conclude on October 2. The visit aims to bolster cooperation between the countries in the industrial and mining sectors and explore opportunities in sectors prioritized by the National Industrial Strategy.

Source: Saudi Press Agency

His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah sent a cable to the President of Cyprus Nikos Christodoulides, congratulating him on the advent of his country’s national day.

Source: Kuwait News Agency

Azerbaijan’s Minister of Economy Mikayil Jabbarov has proposed the establishment by Azerbaijan and Saudi Arabia of a joint sovereign investment fund that will boost investment in priority sectors of the economies and in third-party projects.

The proposal was discussed during a meeting he held here today with Chairman of the Federation of Saudi Chambers Hassan Al-Huwaizi who is leading a Saudi delegation of business leaders on a visit to Azerbaijan to explore investment opportunities.

Jabbarov noted that the presence of major Saudi companies such as Aramco, SABIC, and Aqwapor, as well as of firms in the tourism sector, underscores the attractive investment climate in the country.

Al-Huwaizi underlined the importance of signing an Investment Protection Agreement between Saudi Arabia and Azerbaijan, to ensure a secure environment that encourages investment in the two countries.

Discussions also focused on increasing Saudi investment in various sectors in Azerbaijan, such as oil, renewable energy, industry, t
ourism, infrastructure, livestock, agriculture, and mining, as well as the opportunities Azeri companies have to participate in large-scale infrastructure projects and export foodstuff to Saudi Arabia.

The two sides acknowledged the importance of providing incentives and support to encourage Saudi investment in Azerbaijan’s free economic zones.

Source: Saudi Press Agency

Kuwait’s 15th relief planeload departed to Sudan, Tuesday, carrying on board 10 tons of supplies, organized by Al-Salam society for humanitarian and charity work, to shelter displaced people affected by rains, floods and ongoing conflicts in Sudan.

Before take-off, Director General of the society stated to KUNA that the society would continue to support Sudan, providing all the necessary needs. Al-Oun further said that the flight consists of the necessary food that helped meet the needs of the displaced families which includes, rice, oil, dates and other basics, pointing out that the situation worsen in Sudan, the demands increases.

He praised the country’s directive leaderships to establish this bridge as well as the official bodies for their swift actions and immediate response to the humanitarian situation in Sudan.

Source: Kuwait News Agency

ROSHN Group announced today in a release the acquisition of joint credit facilities amounting to SAR9 billion (approximately $2.4 billion) from a group of banks.

The revolving credit lines will be available to ROSHN over the next five years to support its general corporate objectives, including expansion and growth plans.

According to the release, this funding is in line with ROSHN’s financing strategy, and will be allocated to the group’s general objectives, including expansion and growth.

ROSHN CFO Avinash Pangarkar said: “This significant financing reflects the market’s confidence in ROSHN and the Kingdom’s real estate sector. Our banking partners have recognized the progress we have made in delivering real estate projects across Saudi Arabia, and contributing to the goals of Vision 2030. We intend to use these funds to further advance our ambitious strategy in the coming years.”

Source: Saudi Press Agency

The Lebanese Public Health Emergency Operation Center (PHEOC) reported on Tuesday that Israeli airstrikes in the past 24 hours killed 95 people and injured 172 others across Lebanon.

The strikes targeted towns and villages in southern Lebanon, Nabatieh, Beqaa, Baalbek-Hermel, and the capital, Beirut, which was hit by Israeli warplanes.

According to Lebanon’s National News Agency (NNA), Israeli airstrikes on southern Lebanese town of Daoudiya killed ten members of a single family, who were trapped under the rubble of their home, while five others were injured.

The NNA also reported that Israeli warplanes launched a series of violent airstrikes on Beirut’s southern suburbs, destroying several buildings.

The strikes hit areas including Laylaki, Mrayjeh, Haret Hreik, and Borj Al- Brajneh, destroying large residential complexes.

Since last October, Lebanon has witnessed daily military confrontations with the Israeli occupation forces, with the intensity of clashes escalating significantly since last Monday,
as the Israeli occupation launched heavy airstrikes on various Lebanese regions, resulting in thousands of casualties and extensive material damage.

Source: Kuwait News Agency

SAMI Advanced Electronics Company (SAMI-AEC), a leader in innovative solutions and a subsidiary of the Saudi Arabian Military Industries (SAMI), has reached a licensing agreement with Saudi Aramco Technologies Company (SATC), a wholly owned subsidiary of Aramco, for the commercialization of Raqeeb, a proprietary smart safety solution created by Aramco, according to a SAMI press release.

Alarming global statistics on workplace incidents highlight the need for innovations like Raqeeb, the release points out.

According to the International Labor Organization, approximately 2.78 million lives are lost yearly because of workplace incidents. With over 7,500 fatal injuries and one million non-fatal injuries occurring daily, the pressing need for increased safety measures is evident.

Raqeeb combines state-of-the-art Internet of Things (IoT) technology with AI to provide safety coverage for workers in high-risk settings.

SAMI-AEC CEO Eng. Ziad Al-Musallam said: “This licensing agreement with Saudi Aramco Technolog
ies Company is a significant milestone in our mission to create safer workplaces. Raqeeb is designed to reduce the frequency and severity of workplace incidents, aligning with modern safety standards. Raqeeb is poised to be a game changer and would serve as a compelling example of how technology can enhance worker productivity and improve industry safety practices.”

SATC CEO Dr. Raed H. Abudawoud said that partnering with SAMI-AEC marks a significant advancement, adding that the licensed technology will enhance team safety and operational efficiency.

Given the longstanding collaboration between SAMI-AEC and SATC on various projects, SAMI-AEC is “the ideal choice to commercialize Raqeeb”, said Abudawoud, who expressed optimism that Raqeeb will be successfully commercialized in the Kingdom and beyond.

Developed using the latest Fourth Industrial Revolution technologies, the Raqeeb system connects every worker to SAMI-AEC’s IoT platform through wearable technology and environmental sensors, ensuring continuou
s monitoring and immediate response capabilities. It has already been deployed at numerous locations, in collaboration with Aramco, significantly reducing workplace incidents and improving operational productivity.

Source: Saudi Press Agency

Syrian authorities reported, Tuesday, that the Israeli occupation air strikes targeted and killed three Syrians and injured nine others in Damascus. The Syrian Arab News Agency (SANA) earlier informed from an unnamed military source that the Israeli occupation forces launched an aerial assault using warplanes and drones from the direction of occupied Golan Heights, targeting several points in Damascus. The Syrian air defense intercepted some of the Israeli occupation’s missiles and drones, noting that the occupation’s forces killed, injured and significantly damaged private properties, sources added.

Source: Kuwait News Agency

As one of the world’s top coffee-consuming countries, Saudi Arabia actively marks the International Coffee Day, and takes immense pride in its rich coffee culture.

This day, observed annually on October 1, is marked by various events, initiatives, and activities underscoring the nation’s great love for coffee.

Saudi coffee is a cultural symbol that embodies the Saudi people’s cherished values of hospitality and warm reception.

Each region of the Kingdom has its unique coffee-making tradition. In the central region of Najd, cardamom and saffron are added to the coffee, while in the southern region, cloves, ginger, and cinnamon are added to those two ingredients. In Hail, coffee is mixed with cardamom, saffron, and cloves, and in the western region, people only add cardamom.

Coffee is served following specific traditions as well. The dallah, the coffee pot, is held in and poured with the left hand, and the cup is presented to the guest with the right hand.

The Ministry of Environment, Water, and Agricultur
e has focused on expanding coffee cultivation, with the goal of attaining self-sufficiency in the future. This endeavor aims to boost economic returns and help growth of non-oil sector’s contribution to GDP, consistent with Vision 2030 objective.

Source: Saudi Press Agency