N. Korea Vows to Take Action to Protect Its Sovereignty

North Korea vowed Sunday to take action to protect its sovereignty as it condemned South Korea, the United States and Japan for their recent joint military exercises.

“We will protect our national sovereignty and security interests, as well as regional peace, through aggressive and overwhelming countermeasures,” North Korea’s foreign ministry said in a statement.

The ministry did not elaborate on what it meant by countermeasures, according to South Korea’s News Agency (Yonhap).

On Saturday, South Korea, the US and Japan wrapped up their first, three-day trilateral multi-domian military exercise, titled “Freedom Edge,” aimed at strengthening their deterrence against North Korean threats.

The three nations have had combined maritime and aerial exercises before, but Freedom Edge was the first trilateral exercise held across multiple domains, including air, maritime, underwater and cyber.

The move came amid a growing North Korea-Russia alignment after Russian President Vladimir Putin and North Korean leader
Kim Jong-un signed a “comprehensive strategic partnership” treaty that calls for providing military assistance to each other without delay if either side comes under an armed attack.

Source: Qatar News Agency

Princess Nourah University Hosts Mawhiba Universal Enrichment Program


Riyadh: The Deanship of Student Affairs at Princess Nourah bint Abdulrahman University is hosting the Mawhiba Universal Enrichment Program, affiliated with the King Abdulaziz and His Companions Foundation for Giftedness and Creativity, with the participation of 279 talented students.

The program started yesterday at the College of Science on the university campus and will continue for three weeks during the summer. It aims to enrich students’ scientific and linguistic knowledge, help them identify their future scientific fields, provide them with the experience of completing tasks and projects at a university level, highlight national talents, and prepare students to support the Kingdom’s transition to a knowledge-based society.

Also, it seeks to enhance students’ communication with international universities, open promising horizons for them to continue their studies, and develop their personal skills.

The program includes four tracks: medical, biological, and chemical sciences; physics, geology, and spac
e sciences; engineering sciences; and computer and applied mathematics sciences.

Source: Saudi Press Agency

Mawhiba Launches Enriching Summer Programs to Nurture Gifted Students


Riyadh: The King Abdulaziz and His Companions Foundation for Giftedness and Creativity (Mawhiba) has launched several summer programs to nurture gifted students and enrich their scientific and linguistic knowledge.

The programs include the Mawhiba Academic Enrichment Program, Mawhiba Research Enrichment Program, Mawhiba Universal Enrichment Program, and Mawhiba Ambassadors Program.

Some 13,000 students, including 450 students from Syria, Jordan, Palestine, United Arab Emirates, Bahrain, Tunisia, Algeria, Iraq, Oman, Qatar, Kuwait, Libya, Morocco, Mauritania, Yemen, Egypt, and South Africa, will participate in these programs, which start today and continue for three, four, and six weeks.

The programs provide students with intensive research, scientific, and technical materials to help them acquire essential skills and achieve their future aspirations.

Source: Saudi Press Agency

GASTAT: Unemployment Rate in the Kingdom Stabilizes Relatively at 3.5% in Q1 2024


Riyadh: The General Authority for Statistics (GASTAT) released today the Labor Market Bulletin for the first quarter of 2024 on its official website, https://www.stats.gov.sa/en. The bulletin provides insights into the changes in the labor market during this period, incorporating the revised data from the fourth quarter of 2023 based on the Saudi Census 2022.

According to GASTAT, the overall unemployment rate (for Saudis and non-Saudis) has relatively stabilized at 3.5% in the first quarter of 2024, compared to 3.4% in Q4 2023. Saudi unemployment rate in the first quarter of 2024 reached 7.6%, compared to 7.8% in the fourth quarter of 2023.

In the first quarter of 2024, the unemployment rate for Saudi females rose to 14.2%, up from 13.9% in the previous quarter of 2023. On the other hand, the unemployment rate for Saudi male workers decreased to 4.2% from 4.6% in the previous quarter of 2023.

The labor force participation rate in Q1 2024 for Saudis increased to 51.4%, compared to 50.4% in the fourth quarte
r of 2023. However, the labor force participation rate for both Saudis and non-Saudis decreased to 66.0% from 67.0% in the fourth quarter of 2023.

Moreover, the results also showed that the labor force participation rate for Saudi females increased to 35.8% in the first quarter of 2024, up from 35.0% in the previous quarter. Similarly, for Saudi male workers, the labor force participation rate increased to 66.4% from 65.4% in the previous quarter.

According to GASTAT, the results are based on a household survey conducted by the authority, which electronically collects information from a sample representing different regions of the Kingdom.

Data about the working-age population residing in the Kingdom is thus collected and estimates are made by the authority by calculating important labor market indicators, such as unemployment and labor force participation rates, among others.

Source: Saudi Press Agency

Mawani: Adding Shipping Service’ CBS’ to Jeddah Islamic Port to Enhance Kingdom’s Connectivity with Ports in China


Riyadh: The Saudi Ports Authority ‘Mawani’ announced the addition of the new shipping service ‘CBS’ to Jeddah Islamic Port via the Chinese shipping line ‘NewNew Line.’

This step represents Mawani’s efforts to improve the Kingdom’s position on the Liner Shipping Connectivity Index, enhance operational efficiency at ports, and strengthen the Kingdom’s connectivity with global markets. This initiative aims to support national exports and imports, aligning with the National Transport and Logistics Strategy (NTLS) targets to solidify the Kingdom’s standing as a global logistics hub bridging three continents.

The new shipping service links Jeddah Islamic Port with the ports of Tianjin, Qingdao, Shanghai, and Guangzhou in China and Damietta in Egypt through regular weekly trips with a capacity of up to 4,000 TEUs. It is the 14th service added by ‘Mawani’ in cooperation with major global shipping lines since the beginning of 2024.

It is worth noting that Jeddah Islamic Port is a significant logistical and commerci
al hub on the Red Sea coast, extending over 12.5 square kilometers and including 62 berths. The port features several specialized terminals and advanced equipment, covering two container handling terminals, an integrated area representing a logistics village for warehousing and re-export, two general cargo terminals, two docks for ship repair and marine unit maintenance, in addition to a range of berths for marine services such as towing and maritime guidance, and fully equipped halls to receive pilgrims, Umrah performers, and visitors.

Source: Saudi Press Agency

National Infrastructure Fund Announces Inaugural Board of Directors Comprising Saudi and International Experts


Riyadh: The National Infrastructure Fund (Infra) has appointed its first-ever Board of Directors, with the approval of the National Development Fund (NDF) Board, according to a press release from Infra.

The new board, chaired by Minister of Economy and Planning Faisal F. Alibrahim, consists of renowned Saudi and international experts. It will oversee Infra’s efforts to expedite the implementation of vital infrastructure projects in the Kingdom.

With a diverse and complementary mix of expertise across infrastructure finance, development, and delivery, the board members include the CEO of Olayan Financing Company, Nabeel Alamudi, CEO of the Shareek Program Abdulaziz Alarifi, Governor of NDF Stephen Paul Groff, CEO of Infra Esmail Alsallom, Managing Director of Banking and Capital Markets Advisory at Citigroup Inc. Stephanie von Friedeburg (formally the Chief Operating Officer at the World Bank Group and Vice President at the International Finance Corporation), and Chief Strategy Officer at Meridiam SAS Marie
Lam-Frendo (formally CEO of the Global Infrastructure Hub and Head of Infrastructure Initiatives at the World Economic Forum).

According to the release, the inauguration of the board is a significant milestone for Infra and follows the approval of the National Infrastructure Fund Law by Royal Decree earlier this year. The board will work to ensure that Infra continues to provide innovative financial solutions to support higher levels of private sector investment over the long term and to deliver the infrastructure essential for the success of the nation’s transformative Vision 2030 agenda.

Since its inception, Infra has focused on activating its financing and investment activities to support the accelerated delivery of critical infrastructure projects in the Kingdom. It has made significant commitments to large-scale green hydrogen and solar power projects by attracting and sustaining private-sector investment.

Source: Saudi Press Agency

National Infrastructure Fund Announces Inaugural Board of Directors Comprising Saudi and International Experts


Riyadh: The National Infrastructure Fund (Infra) has appointed its first-ever Board of Directors, with the approval of the National Development Fund (NDF) Board, according to a press release from Infra.

The new board, chaired by Minister of Economy and Planning Faisal F. Alibrahim, consists of renowned Saudi and international experts. It will oversee Infra’s efforts to expedite the implementation of vital infrastructure projects in the Kingdom.

With a diverse and complementary mix of expertise across infrastructure finance, development, and delivery, the board members include the CEO of Olayan Financing Company, Nabeel Alamudi, CEO of the Shareek Program Abdulaziz Alarifi, Governor of NDF Stephen Paul Groff, CEO of Infra Esmail Alsallom, Managing Director of Banking and Capital Markets Advisory at Citigroup Inc. Stephanie von Friedeburg (formally the Chief Operating Officer at the World Bank Group and Vice President at the International Finance Corporation), and Chief Strategy Officer at Meridiam SAS Marie
Lam-Frendo (formally CEO of the Global Infrastructure Hub and Head of Infrastructure Initiatives at the World Economic Forum).

According to the release, the inauguration of the board is a significant milestone for Infra and follows the approval of the National Infrastructure Fund Law by Royal Decree earlier this year. The board will work to ensure that Infra continues to provide innovative financial solutions to support higher levels of private sector investment over the long term and to deliver the infrastructure essential for the success of the nation’s transformative Vision 2030 agenda.

Since its inception, Infra has focused on activating its financing and investment activities to support the accelerated delivery of critical infrastructure projects in the Kingdom. It has made significant commitments to large-scale green hydrogen and solar power projects by attracting and sustaining private-sector investment.

Source: Saudi Press Agency

Secretary General of Arab League Affirms Keenness to Stand by Somalia in Addressing any Challenges Threatening its Sovereignty


Cairo: The Secretary General of the Arab League, Ahmed Aboul Gheit, reiterated the league’s commitment to supporting Somalia in the event of any constraints or obstacles jeopardising its territorial integrity and sovereignty.

This occurred during Aboul Gheit’s meeting with Somali Federal Foreign Minister Ahmed Moallim Fiqi to discuss the latest developments in Somalia and the Horn of Africa region.

In a statement issued today, the General Secretariat of the Arab League emphasised its backing of the federal government’s endeavours to promote and activate national dialogue to realise the interests and aspirations of the Somali people.

Source: Saudi Press Agency

GCC, OIC Secretaries General Discuss Strengthening Bilateral Relations, Partnerships and Coordinating Efforts to Serve Common Issues


Jeddah: Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi and Secretary-General of the Organisation of Islamic Cooperation (OIC) Hussein Ibrahim Taha discussed strengthening bilateral relations and partnership and coordinating efforts to serve common issues.

This came during the GCC Secretary General’s meeting with the OIC Secretary-General on Sunday (June 30, 2024) in Jeddah, on the sidelines of Albudaiwi’s participation in the 23rd session of the OIC’s Independent Permanent Commission for Human Rights.

During the meeting, issues of common concern and the current situation in the region were discussed, most notably the serious violations committed by the Israeli occupation forces against the brotherly Palestinian people, in addition to reviewing areas of cooperation, including the memorandum of the executive programme that was signed between the GCC and the OIC in 2021, which aims to activate technical meetings, especially with regard to the areas of combating terrorism, human
rights, and institutional cooperation to serve the common goals of both sides.

Source: Saudi Press Agency