RIYADH — The Coalition to Restore Legitimacy in Yemen said Saturday it had carried out a proportionate military response against legitimate Houthi military targets in Hodeidah Governorate following the group’s attack on commercial vessels in the Red Sea. Coalition spokesman Maj. Gen. Turki Al-Maliki said the Houthis had committed a reckless and cowardly act by targeting commercial shipping, describing the attack as part of a pattern of threats against one of the world’s most important international sea lanes. He said the operation targeted only military sites used by the Houthis to threaten commercial vessels and stressed that the planned operational…
Author: Editorial Team
SEOUL — A South Korean court ordered SK Group Chairman Chey Tae-won on Friday to pay 944 billion won ($640 million) in a divorce case that has cast a spotlight on the billionaire’s stake in the nation’s second-largest conglomerate. It comes more than a decade after Chey’s marriage to Roh Soh-yeong, the daughter of a former president, fell apart following the revelation he had fathered a child with another woman. The cash award to Chey’s former spouse is a record for South Korea, even though substantially lower than a settlement of 1.38 trillion won ordered by the appeals court in…
Professor Souri Banerjee, Director, BITS Pilani Dubai Campus. Dubai — As the UAE accelerates investment in research, advanced technologies and the knowledge economy under its national innovation agenda, universities are becoming key drivers of scientific discovery and industry collaboration. As the country strengthens its position as a global centre for innovation and technology, BITS Pilani Dubai Campus (BPDC) is contributing to this vision through expanding doctoral programmes, industry collaborations, impactful research and innovation. Over the past year, the campus has achieved notable milestones in research funding, publications, patents and innovation, reinforcing its role in supporting the UAE’s vision for a…
On behalf of Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah, Vice Minister of Foreign Affairs Waleed Elkhereiji participated today in the High-Level Conference of High Contracting Parties to the Treaty of Amity and Cooperation in Southeast Asia (TAC), titled “Conflict Prevention and Preventive Diplomacy,” held in Manila, the Republic of the Philippines. During the conference, the vice minister delivered the Kingdom of Saudi Arabia’s statement, emphasizing that strengthening dialogue, fostering mutual confidence, and expanding regional cooperation are more important than ever. He affirmed that the Kingdom recognizes ASEAN’s vital role in advancing peace, stability, and prosperity and…
RIYADH — The foreign ministers of Saudi Arabia, Egypt, Jordan, Pakistan, Indonesia, Türkiye, Qatar and the United Arab Emirates strongly condemned Israel’s escalation at Al-Aqsa Mosque/Al-Haram Al-Sharif, warning that recent actions threaten the historic and legal status quo at the holy site. In a joint statement, the ministers condemned continued incursions by Israeli settlers into the mosque compound under the protection of Israeli forces, including visits led by Israeli ministers, the raising of the Israeli flag inside the compound, the erection of two police tents and other provocative actions. The ministers said such measures constitute a flagrant violation of international…
RIYADH — Saudi Arabia’s Public Investment Fund (PIF) has signed financing agreements worth up to $24.5 billion with the Export-Import Bank of the United States (EXIM) and two World Bank Group institutions. The agreements include a memorandum of understanding with EXIM establishing a framework for up to $15 billion in long-term financing for eligible PIF portfolio companies to procure U.S.-origin goods and services. PIF also signed separate memorandums of understanding with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), worth up to $6 billion and $3.5 billion, respectively, to expand investment opportunities and support economic development…
MANILA — Saudi Arabia reaffirmed its commitment to dialogue, diplomacy and regional cooperation during the Treaty of Amity and Cooperation (TAC) Conference in Manila, while condemning Iranian attacks on Gulf infrastructure and rejecting Houthi allegations against the Kingdom. Representing Foreign Minister Prince Faisal bin Farhan, Deputy Foreign Minister Waleed Al-Khuraiji addressed the conference, titled “Conflict Prevention and Preventive Diplomacy,” emphasizing the importance of strengthening dialogue, building mutual trust and expanding regional cooperation. Al-Khuraiji said Saudi Arabia recognizes ASEAN’s vital role in promoting peace, stability and prosperity and welcomed progress made through recent ASEAN summits in advancing economic integration and addressing…
Tarik Erk, Head of MENAT and Senior Executive Officer, Binance. ABU DHABI – The Middle East and North Africa is emerging as one of the world’s most dynamic markets for stablecoin adoption, as users increasingly incorporate stablecoins into a broader range of financial activities, including trading, savings, value preservation and access to digital financial products, according to new findings from Binance Research. The report, Stablecoins: Transforming the Financial Landscape, identifies MENA as the fastest-growing region for stablecoin savings on Binance Earn. The region’s share of global stablecoin balances held through Binance Earn increased from 5.53% to 9.21%, reflecting growing participation in digital…
The General Directorate of Passports continues to receive pilgrims arriving for Umrah through Saudi Arabia’s air, land, and sea ports, utilizing advanced technology, electronic gates, and dedicated staff to ensure smooth entry. The directorate reaffirmed its commitment to providing high-quality services so pilgrims can perform their rituals with ease. It also reminded visitors to adhere to the Kingdom’s regulations and respect the validity periods of their visas. Source: Riyadh Daily
RIYADH — Finance Minister Mohammed Al-Jadaan has approved seven new regulations governing contracting, procurement and quantities as part of efforts to enhance the government procurement system. The regulations were prepared by the Government Expenditure and Projects Efficiency Authority (EXPRO) as specialized regulatory documents covering specific government procurement services. Government entities subject to the Government Tenders and Procurement Law are required to use them when preparing tender documents and procurement specifications. The new framework is designed to provide government entities with unified technical standards and procedures to help accurately identify procurement needs, improve planning and purchasing efficiency, enhance the quality of…