Day: September 8, 2022

Riyadh– The second phase of the Prince Mohammed bin Salman Project for Developing Historical Mosques covers mosques from Tabouk and Northern Borders region through securing construction requirements and needs to renovate them with their original historical identity until they are ready again to receive worshippers.

The project attaches great importance to mosques of Tabouk and the Northern Borders for what they represent of material and sentimental reflections for the Saudi society, in addition to their role, as a main part, of religious and historical elements of the Kingdom of Saudi Arabia.

Al-Jame Mosque in Dhiba Governorate in Tabouk Region is among top mosques targeted in the development project for its being one of the oldest and most famous mosques in the region.

The mosque, located in Al-Balad neighborhood near the old port of Dhiba, was built four times.

The pre-renovation area of the mosque is 947.88 square meters and will increase to 972.23 square meters, with its capacity increasing from 750 to 779 worshippers.

In the Northern Borders Region, the development project includes Al-Dweid Village Mosque, which is the oldest in the region that was around 80 years ago in the village affiliated with Al-Oweiqlia Governorate.

The pre-renovation area of the mosque stands at 137.5 square meters and will increase to 156.01 square meters, with its capacity standing at 54 worshippers after it stopped to receive worshippers during the past years.

The Prince Mohammed bin Salman’s project to develop historical mosques aims to rehabilitate and restore 130 historical mosques in various regions of the Kingdom of Saudi Arabia and to highlight their civilizational and cultural dimensions by preserving their original urban characteristics.

A total of 30 mosques will be included in the second phase of the Prince Mohammed bin Salman Project for Developing Historical Mosques that covers all regions of the Kingdom of Saudi Arabia, where these mosques will be developed according to modern mechanisms that guarantee the quality of good material and architectural designs after conducting an accurate assessment of the history, characteristics and features of every mosque.

Source: Saudi Press Agency

Riyadh–The National Development Fund (NDF) announced adopting a program to finance the gaming and e-sports sector with a budget of SAR 300 million in order to enhance the Kingdom of Saudi Arabia’s position globally and develop all areas of the sector with the aim of increasing its contribution to the domestic product by providing career paths and new job opportunities in realisation of the goals of Saudi Vision 2030.

The Gaming and E-sports Sector Financing Program, which was approved by NDF, in cooperation with the Saudi Esports Federation and Digital Content Program “Ignite”, aims to provide products and funding solutions through the development funds and banks affiliated with NDF in partnership with financial institutions in the private sector, as it will directly contribute to providing an integrated economic system by empowerment and financial support to create a stimulating environment.

NDF Governor Stephen Groff explained that the adoption of this program is a part of a first stage within a group of NDF initiatives to develop and enable the gaming and e-sports sector to enhance its role in the economic role of the Kingdom of Saudi Arabia and diversify the non-oil sector economy. It also improves the players’ experience and provides new opportunities, strengthening the Kingdom of Saudi Arabia’s position at the international level. The products and funding solutions to be developed by the program, in cooperation with partners, will be announced by the end of 2022.

Source: Saudi Press Agency

Ouagadougou– King Salman Humanitarian Aid and Relief Center (KSrelief) delivered Tuesday the Kingdom of Saudi Arabia’s gift of 50 tons of dates to the Republic of Burkina Faso.

Saudi Charge d’Affaires in Burkina Faso Mohammed bin Abdulaziz Al-Nazawe Al-Juhani handed over the gift to Burkina Faso’s Minister of National Solidarity and Humanitarian Action Lazare Zoungrana.

The minister extended thanks and appreciation to the Kingdom of Saudi Arabia for all humanitarian aid it provides for people of Burkina Faso.

This gift comes as a part of humanitarian programs being provided by the government of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to a number of friendly countries.

Source: Saudi Press Agency

Jeddah — His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Deputy Prime, has sent a cable of congratulation to President Jair M. Bolsonaro of the Federative Republic of Brazil on the anniversary of his country’s Independence Day.

In his cable, HRH the Crown Prince expressed his best felicitations and wished the President constant good health and happiness and the government and people of the Federative Republic of Brazil steady progress and prosperity.

Source: Saudi Press Agency

Jeddah — The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has sent a cable of congratulations to Liz Truss on the occasion of her appointment as Prime Minister of the United Kingdom of Great Britain and Northern Ireland.

The King expressed his sincere congratulations and best wishes for the Prime Minister and further progress and prosperity for the people of the United Kingdom of Great Britain and Northern Ireland.

Source: Saudi Press Agency

Riyadh — Minister of Transport and Logistics Engineer Saleh bin Nasser Al-Jasser held a meeting here today with the Qatari Minister of Transport, Jassim Al-Sulaiti, and his accompanying delegation.

During the meeting, they discussed a number of topics of common interest aimed at developing the transport and logistics sector in the two brotherly countries.

The meeting was attended by a number of officials.

Source: Saudi Press Agency

Riyadh — In an interview with Energy Intelligence on Tuesday, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman elaborated on the thinking behind Opec-plus’ latest policy decisions and situation of global oil markets. Below is a full transcript.

Q: What message was intended to be conveyed by the recent Opec-plus cut?

A: This decision was an expression of our willingness to use all of the tools in our kit. This simple tweak shows that we are attentive, pre-emptive and proactive in terms of supporting the stability of the market to the benefit of market participants and the industry.

Q: Why was there a cut of 100,000 barrels per day?

A: As the Opec-plus meeting clearly stated, this measure was a reversion to the production level of August. The addition of the 100,000 barrels in September was always intended as a measure for that month only.

Q: Do you think there are signs of a looming global recession?

A: We are seeing mixed signals in relation to economic growth from different parts of the world, and there has been a tendency towards exaggeration in some of the negative analyses of the global economic situation. In this regard, we think the jury is still out, but that only reinforces the need to be ready to use all the tools in our kit. It’s also worth highlighting that historical data indicates that you could have recessions with limited oil demand contractions and in fact you could even have demand growth in recession years as was the case in 1991.

Q: What are the main causes of the current volatile market?

A: As I have said before, there is a self-perpetuating vicious circle in the paper market of extreme volatility and very thin liquidity. This has undermined the market’s essential function of efficient price discovery, with prohibitive costs for users of hedging and risk management techniques in oil and other commodities, creating new types of risk and instability. This cycle is exacerbated by speculative reports and analysis about demand destruction, possible return of large supply volumes, and measures related to price caps, embargoes and sanctions.

Q: Does Opec-plus have any intention of defending a certain price range?

A: Opec-plus, as is well known, does not target prices or prices ranges. Its aim is to support market stability and supply and demand balance for the benefit of market participants and the industry.

Source: Saudi Press Agency

Jeddah — His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Deputy Prime Minister, has sent a cable of congratulations to Liz Truss on the occasion of her appointment as Prime Minister of the United Kingdom of Great Britain and Northern Ireland.

HRH the Crown Prince expressed his sincere congratulations and best wishes for the Prime Minister and further progress and prosperity for the government and people of the United Kingdom of Great Britain and Northern Ireland.

Source: Saudi Press Agency

Riyadh — The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received a written message from President Emomali Rahmon of the Republic of Tajikistan, dealing with the strong and solid bilateral relations that bind the two countries and peoples, and ways to support and enhance them in various fields and at all levels.

The President of the Republic of Tajikistan expressed his country’s support for the Kingdom to host Expo 2030 in Riyadh.

The message was received by Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, during his meeting here today with Minister of Foreign Affairs of the Republic of Tajikistan, Sirojiddin Muhriddin.

During the meeting, the two sides discussed bilateral relations between the two countries and ways of enhancing them in various fields, in addition to exchanging views on regional and international issues of common interest.

Source: Saudi Press Agency