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Saudi EXIM Bank and NBB collaborate to enhance exports

RIYADH: Bilateral trade between Saudi Arabia and Bahrain is set to receive a further boost after banks from both sides entered into an agreement to offer competitive financing to firms involved in the import and export of goods.  According to a memorandum of understanding signed between the National Bank of Bahrain and the Saudi Export-Import Bank, also known as Saudi EXIM Bank, NBB will offer competitive financing rates to Bahraini companies importing goods from Saudi Arabia.  
sport

Jeddah to Host Next FIFA Club World Cup

ZURICH: The 2023 Club World Cup will be played in Jeddah, the home city of Saudi champions Al-Ittihad that have signed Karim Benzema, FIFA said Monday. Al-Ittihad will be joined by the six continental club champions — including Champions League winner Manchester City — for the Dec. 12-22 tournament. It will be the last edition in that format before the 32-team version launches in 2025 in the US.
sport

SAFF introduces innovative funding program for women’s football empowerment.

The Saudi Arabian Football Federation (SAFF) on Monday announced a funding initiative and support system for women’s football clubs.   This initiative is designed to “further enhance the rapidly growing women’s football leagues and the wider sport in Saudi Arabia, ensuring its sustainability and development for years to come,” a press release read.    SAFF’s funding program will provide vital financial assistance to the Saudi Premier League and Women's First Division clubs.  
Business

Boost for Makkah’s Hospitality Industry during Hajj Season

RIYADH: Hotels in Makkah have been running at full capacity as Muslims worldwide flocked to the holy city to perform Hajj after Saudi Arabia removed restrictions on the number and age of pilgrims, according to a top realtor in the city.   “The hotel occupancy rates in Makkah have reached 100 percent, such as the Novotel Thakher Makkah hotel. This substantial increase in occupancy comes in contrast to the 80 percent rate observed during the last Ramadan,” said Abdulaziz Al-Aboudi, the CEO of Thakher Development Co, a real estate firm focused on the hospitality sector.
Business

“Soft Dollar Boosts Appeal: Gold Prices Rise”

RIYADH: Gold climbed on Monday after a weaker dollar made bullion more attractive for overseas investors, although prices hovered close to three-month lows as traders assessed prospects of more interest rate hikes by the US Federal Reserve. Spot gold rose 0.3 percent to $1,926.19 per ounce by 8:38 a.m. Saudi time. US gold futures also gained 0.3 percent to $1,936.00. Bullion slumped nearly 2 percent in the previous week as hawkish comments from Fed officials signaled more rate hikes to tame sticky inflation.
Business

“Food Show in Riyadh: Saudi Arabia and Oman Sign Multiple MoUs”

RIYADH: Reflecting the strengthening of economic and investment ties between Riyadh and Muscat, Omani companies signed multiple contracts and memoranda of understanding at the Saudi Food Show held last week.   Oman, represented by the Public Establishment for Industrial Estates, or Madayn, had fruitful bilateral discussions with key company executives, investors, commercial agents and suppliers from Saudi Arabia at the event held in Riyadh. 
Business

“King Abdulaziz Port Achieves Record Container Throughput of 206,415 TEUs”

RIYADH: Saudi Arabia’s quest to ramp up trade volumes has seen one of its major ports registering an unprecedented growth in cargo volume. The King Abdulaziz Port set a new container throughput record of handling 206,145 twenty-foot equivalent units in May 2023, according to data released by the Saudi Ports Authority, also known as Mawani. The Dammam port surpassed its previous record of 199,609 TEUs in August 2022.
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Israeli official: Hamas demand for end to war ‘thwarting’ truce efforts

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JERUSALEM: A top Israeli official said Saturday that Hamas’s continued demand for a lasting ceasefire in the war in Gaza was stymying prospects of reaching a truce. “So far, Hamas has not given up its demand to end the war, thus thwarting the possibility of reaching an agreement,” the official told AFP on condition of anonymity. The official rejected reports that Israel had agreed to end the war as part of a deal to free the hostages held by Gaza militants.

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German Scholz urges unity against far-right after MEP injured

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Chancellor's appeal comes after four assailants brutally attacked a politician who was campaigning in eastern Germany.

Israeli official: Hamas demand for end to war ‘thwarting’ truce efforts

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JERUSALEM: A top Israeli official said Saturday that Hamas’s continued demand for a lasting ceasefire in the war in Gaza was stymying prospects of reaching a truce. “So far, Hamas has not given up its demand to end the war, thus thwarting the possibility of reaching an agreement,” the official told AFP on condition of anonymity. The official rejected reports that Israel had agreed to end the war as part of a deal to free the hostages held by Gaza militants.

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