Category: General

The official announcement between the State of Qatar, represented by the Ministry of Finance and the International Monetary Fund (IMF), titled State of Qatars SDRs commitment to the IMF, was issued today during the third edition of the Qatar Economic Forum.

The announcement demonstrates State of Qatars leadership role in supporting least developed countries overcome economic shocks and challenges. The global economy faces unique uncertainties, such as high inflation, increasing debt vulnerabilities, rising poverty and inequality, slowing growth and tighter financial conditions. These challenges require additional resources to be addressed, stemming notably from the rising south-to-south economy and the new growth opportunities it presents to the global business community.

The State of Qatar recognizes these rising needs and has continued to deliver on its commitment to strengthen multilateral action to address the current challenges with the aim to contribute to the new global growth story.

Source: Qatar News Agency

President of the European Central Bank (ECB) Christine Lagarde stressed today the ECB’s determination to bring inflation down as well as addressing the risks of the zone’s entering an economic recession due to the rapid changes imposed by the pandemic, the Russian-Ukrainian crisis, and the current economic situation in the United States of America.

Speaking as the ECB celebrates its 25th anniversary, Lagarde said: “After years of being too low, inflation is now too high and is set to remain so for too long.

“We will bring inflation back to our target of 2% over the medium term. That is why we have raised interest rates at a record pace, and why we will bring them to sufficiently restrictive levels – and keep them at those levels for as long as necessary – to return inflation to our target in a timely manner.”

Source: Qatar News Agency

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has sent a cable of congratulations to Eritrean President Isaias Afwerki on the anniversary of his country’s Independence Day.

HRH the Crown Prince wished the president continued good health and happiness, and the government and people of the State of Eritrea steady progress and prosperity.

Source: Saudi Press Agency

Jeddah will host on Thursday the fifth session of the Saudi-Iraqi Coordination Council meeting, as an extension of the joint efforts to strengthen and develop brotherly relations between the Kingdom of Saudi Arabia and the sisterly Republic of Iraq at the strategic level, and open new horizons for cooperation in various fields.

Minister of Commerce and Investment Dr. Majid Al-Qasabi will chair the Kingdom’s side in the council, while the Iraqi Deputy Prime Minister and Minister of Planning Mohammad Ali Tamim will head the Iraqi side in the presence of the council members and chairpersons of its sub-committees.

During its meetings, the council is scheduled to discuss the joint action plan of its sub-committees in various fields of bilateral cooperation to support and enhance it to serve the interests of the two countries and the two brotherly peoples.

On the sidelines of the session, meetings of the Saudi-Iraqi Business Council and the Saudi-Iraqi Economic Forum will be held in the presence of several of the two countries business people.

The Saudi-Iraqi Coordination Council was established in 2017 to enhance communication between the two countries at the strategic level and advance bilateral relations to new horizons in various fields, including economy, development, security, investment, tourism, culture, and media.

The council also aims to enhance bilateral cooperation in key international and regional affairs, safeguarding common interests and developing partnerships between the private sectors in the two countries.

It allows businessmen from both countries to identify trade and investment opportunities, adopt effective means that contribute to helping business people invest in such opportunities, and encourage the exchange of technical expertise between the concerned authorities.

Source: Saudi Press Agency

Diriyah Company has reached a major development milestone with 50 million safe man-hours to date across its immense project portfolio, which has already welcomed a million visitors in the Five months since the opening of its first two physical offerings.

With a daily workforce of over 21,000 and in excess of 1,100 pieces of heavy equipment on site, this landmark achievement establishes a new regional benchmark for safe construction and excellence in occupational health and safety management.

As Diriyah Company delivers on its commitment to continually improve safety practices and conditions to protect employees, communities, and the environment, it is providing relevant stakeholders, from project management consultants to construction teams, with a tried-and-tested framework for the elimination, control and minimization of safety risks and construction accidents.

Diriyah Company’s Occupational Health and Safety (HandS) department is responsible for the health and safety of all Company personnel and ensures that their activities do not put anyone at risk. (HandS) department’s emergency and disaster management programme ensures efficient responses to emergencies across its construction sites.

In a testament to the efficient management of the project, “TUV Austria”, the international accreditation body certified that Diriyah Company’s Occupational Health and Safety Management System is fully compliant with ISO-45001 Standards, with zero non-conformance found.

The HandS Quality-of-Life Program established a range of internationally recognized worker welfare standards that all contractors, sub-contractors and companies working for Diriyah Company must adhere to. Monthly inspections are conducted by Company representatives and, if required, corrective measures must be taken within four weeks of the report being issued.

Diriyah Company’s (HandS) department have led the development and implementation of a dedicated HandS management system, aligned to the best standards across the entire project development. This has ensured that consistently high international standards of health and safety are being implemented and monitored on a regular basis, a testament to the Company’s commitment to worker welfare and best-in-class project management.

Jerry Inzerillo, CEO of Diriyah company, commented on the celebration of this milestone that “a project of this calibre and historical and national importance demands a commitment to the highest standards of health and safety. As we develop historic Diriyah into a world-leading leading destination to live, visit and work, we are constantly seeking new ways to improve and enhance the welfare of our workforce and management of our work. Reaching this milestone is a testament to the success we have had to date. As we look to the future, we will continue to unwaveringly deliver unmatched building quality and the best working environment for all our staff.”

Source: Saudi Press Agency

HE Minister of Foreign Affairs of the Federal Republic of Nigeria Geoffrey Onyeama met with HE Ambassador of the State of Qatar to Nigeria Dr. Ali bin Ghanem Al Hajri.

During the meeting, they discussed bilateral cooperation relations between the two countries. (QNA)

Source: Qatar News Agency

HE Minister of Finance Ali bin Ahmed Al Kuwari met separately on Tuesday with a number of Their Excellencies Ministers and senior officials of financial and government institutions, on the sidelines of the third edition of Qatar Economic Forum.

HE Minister of Finance met with the founder of Bloomberg LP and Bloomberg Philanthropies Michael Bloomberg, HE Minister of Finance of the sisterly Kingdom of Saudi Arabia Mohammed Abdullah Al-Jadaan, HE Minister of Economy and Planning of the sisterly Kingdom of Saudi Arabia Faisal Alibrahim, HE Minister of Finance of the Republic of Poland Magdalena Rzeczkowska.

HE Ali bin Ahmed Al Kuwari also met with HE Minister of State for Financial Affairs in the United Arab Emirates Muhammad Hadi Al Husseini, CEO of Standard Chartered Bill Winters, Global Chairman of PwC Robert Moritz, and HE Minister of Economy of Malaysia Rafizi Ramli.

The meetings discussed several topics of mutual interest as well as the most relevant economic, investment, and trade developments. (QNA)

Source: Qatar News Agency

HH the Amir Sheikh Tamim bin Hamad Al-Thani attended the reception ceremony held on the occasion of Qatar Economic Forum 2023, Powered by Bloomberg at the Katara Towers: Fairmont and Raffles Hotels on Tuesday evening.

The reception ceremony was attended by HE President of the Republic of Rwanda Paul Kagame, HE President of the Republic of Armenia Vahagn Khachaturyan, HE President of Zanzibar Dr. Hussein Ali Mwinyi, HE Prime Minister of the People’s Republic of Bangladesh Sheikh Hasina Wazed, HE Prime Minister of the Republic of Kazakhstan Alikhan Ismailov and HE the Prime Minister of Georgia Irakli Garibashvili.

The ceremony was also attended by a number of Their Excellencies the ministers from the sisterly and friendly countries, along with a number of senior businessmen, politicians, thinkers, academics and media professionals.

HH the Amir held a dinner banquet on the occasion of Qatar Economic Forum 2023, Powered by Bloomberg, in honor of Their Excellencies and heads of states and Governments and senior officials from various countries of the world participating in the Forum on Tuesday.

During the ceremony, HH the Amir discussed with Their Excellencies and heads of states a number of topics of shared interest. (QNA)

Source: Qatar News Agency

The Vice President of the Supreme Space Council and Chairman of the Board of Directors of the Saudi Space Commission, Eng. Abdullah Bin Amer Al-Swaha, has extended sincere congratulations to Saudi Arabia’s leadership on the arrival of Saudi astronauts Rayyanah Barnawi and Ali Alqarni to the International Space Station (ISS).

Al-Swaha congratulates the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and President of the Supreme Space Council, on this momentous occasion.

He applauds the historic arrival of Al-Qarni and Barnawi as the first Saudi, Arab, and Muslim astronauts to reach the ISS. As part of the crew of the Ax-2 mission, they will conduct 14 groundbreaking scientific research experiments that will serve humanity.

Al-Swaha emphasizes that this achievement and the subsequent opportunities are the results of the unwavering support provided to the Saudi Space Commission and the Kingdom’s astronaut program by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud. He highlights that this significant step aligns with Saudi Arabia’s Vision 2030, empowering the Kingdom to embark on a new scientific exploration and contributions era.

These contributions will elevate the Kingdom’s position in the global race for space and its technologies, solidifying its presence among nations investing in space sciences.

Al-Swaha said he also prays to Almighty Allah for the safe return of the astronauts with the results of the scientific and pioneering experiments they accomplished to serve humanity, protect the planet and shape new horizons.

Source: Saudi Press Agency

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, chaired the Cabinet session held today at Al-Salam Palace in Jeddah.

The Custodian of the Two Holy Mosques thanked God for the blessing He bestowed upon the pilgrims who could perform their rituals with ease and reassurance and for enabling “this blessed country to take care of the Two Holy Mosques and serve their pilgrims”.

The Custodian of the Two Holy Mosques thanked all authorities concerned with pilgrims’ affairs for their efforts that contributed to the success of Hajj this year, 1444 AH, and for providing excellent services, which helped the pilgrims perform the Hajj rituals in great comfort.

Their efforts, the King said, are testimony to the dedication to the great duty God honoured the Kingdom’s leadership and people to carry out.

The Cabinet was briefed on the outcome of the official visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to the Republic of France and his meeting with President Emmanuel Macron, during which they reviewed the historical and strategic relations between the two countries and ways to enhance them in all fields.

In a statement to the Saudi Press Agency (SPA) following the Cabinet session, Minister of Media Salman bin Yousef Al-Dosari said that the Cabinet commended the joint statement issued by the Kingdom and France on cooperation in the field of energy and the keenness of the two countries to implement the United Nations Framework Convention on Climate Change and the Paris Agreement.

The Cabinet reviewed the Kingdom’s recent participation in regional and international meetings as part of its efforts to support collective action and follow a multilateral approach to face global challenges, maintain peace and stability, and achieve development and prosperity.

The Cabinet also reviewed the outcome of the 6th joint ministerial meeting of the strategic dialogue between GCC and the Russian Federation, held in Moscow, regarding adopting a joint action plan for 2023-2028 and coordination on various regional and international political issues.

The Cabinet reiterated the Kingdom’s keenness to lend support to the precautionary efforts exerted by the OPEC+ countries to ensure the stability and balance of oil markets, including extending the voluntary cut of one million barrels per day, which has started being implemented in July, for another month, to include the month of August that can be extended.

The minister said that the Cabinet sees the positive results achieved by the Kingdom in the World Competitiveness Yearbook 2023 report as a reflection of the economic transformation process adopted by the Kingdom with the aim of achieving prosperity and progress in all fields.

The Cabinet welcomed the World Intellectual Property Organization’s decision to appoint the Saudi Authority for Intellectual Property (SAIP) as an International Searching and Preliminary Examining Authority and the accreditation given to the Sand and Dust Storm Warning Regional Center by the World Meteorological Organization.

The Cabinet was also briefed on a number of issues on its agenda and issued the following decisions:

First: Approving the Kingdom’s accession to the Treaty of Friendship and Cooperation in South-East Asia and relevant protocols.

Second: Authorizing the Minister of Culture – or a deputy – to hold talks with the Burkinabe side regarding a draft memorandum of understanding for cooperation in the cultural field between the Ministry of Culture of the Kingdom of Saudi Arabia and the Ministry of Communication, Culture, Arts and Tourism of the Republic of Burkina Faso.

Third: Authorizing the Minister of Justice – or a deputy – to sign a draft cooperation agreement in the judicial field between the Kingdom of Saudi Arabia and the Republic of Chad, and to sign a draft memorandum of understanding for cooperation between the Ministry of Justice of the Kingdom of Saudi Arabia and the Ministry of Justice of the Republic of Chad.

Fourth: Approving a draft memorandum of understanding between the National Center of Meteorology of the Kingdom of Saudi Arabia and the Arab Red Crescent and Red Cross Organization on reducing the possibility of risks and disasters that might occur in the Arab world.

Fifth: Authorizing the Minister of Environment, Water and Agriculture – or a deputy – to discuss with the Zambian and Indonesian sides two draft memoranda of understanding regarding cooperation in the agricultural fields between the Ministry of Environment, Water and Agriculture of the Kingdom of Saudi Arabia and the Ministry of Agriculture of the Republic of Zambia, as well as the Ministry of Agriculture of the Republic of Indonesia.

Sixth: Authorizing the Minister of Industry and Mineral Resources – or a deputy – to discuss with the Moroccan, Congolese, Zimbabwean, Zambian, Mauritanian and Senegalese sides draft memoranda of understanding in the field of mineral wealth between the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia and each of: the Ministry of Energy Transition and Sustainable Development of the Kingdom of Morocco, the Ministry of Mines of the Democratic Republic of Congo, the Ministry of Mines and Mining Development of the Republic of Zimbabwe, the Ministry of Mines of the Republic of Zambia, the Ministry of Petroleum, Mines and Energy of the Islamic Republic of Mauritania and the Ministry of Mines and Geology of the Republic of Senegal.

Seventh: Approving a memorandum of understanding for cooperation in the field of tourism between the Ministry of Tourism of the Kingdom of Saudi Arabia and the Ministry of Commerce and Tourism of the Republic of Djibouti.

Eighth: Authorizing the Attorney General – or his deputy – to discuss with the United Nations Office on Drugs and Crime regarding a draft memorandum of understanding between the Public Prosecution of the Kingdom of Saudi Arabia and the United Nations Office on Drugs and Crime.

Ninth: Approving – in principle – an establishment of a national centre for marine information.

Tenth: Approving the real estate contributions bylaw.

Eleventh: Approving the organization of the Royal Institute of Traditional Arts.

Twelfth: Approving to establish the Ministerial Committee of Traffic Safety as the authorized representative body of the Kingdom, responsible for liaising with the World Health Organization (WHO) and the United Nations on matters pertaining to the implementation of the national strategic plan for traffic safety. This includes addressing issues related to the Stockholm Declaration and the Political Declaration on Road Safety.

Thirteen: Approving promotions at the 15th and 14th ranks.

The Cabinet also reviewed several issues on its agenda and took necessary procedures regarding them.

Source: Saudi Press Agency