PFL MENA announces fight card for 2025 opening event in Jeddah

WELLINGTOn: Severe weather warnings covered swathes of New Zealand on Thursday with heavy downpours prompting a state of emergency for the South Island’s largest city, Christchurch, while forecasters recorded “destructive” gales in the capital, Wellington.
Heavy snow and large waves lashed other parts of the country. No deaths or serious injuries were reported. The extent of damage was not clear by afternoon, but evacuations were not widespread.
Thursday’s red wind warning for Wellington, at the southern end of New Zealand’s North Island, was the first time the capital — famous for its gusty gales — has ever faced the most severe alert level. Residents were urged to stay indoors, avoid travel and keep away from doors and windows as gusts of up to 150 kph (93 mph) posed a “threat to life” from falling trees and flying objects, the forecaster Metservice said.
Flights to and from Wellington were canceled throughout Thursday and passenger ferry sailings between the North and South Islands were halted until at least Friday afternoon. Metservice expected 5 meter (16 foot) swells in the Cook Strait, the body of water between New Zealand’s two largest islands.
About 1,000 properties were without electricity Thursday afternoon in the wider Wellington region, which has a population of 550,000. The city’s largest university closed for the day, the Royal New Zealand Ballet canceled an evening performance, and several schools sent students home.
Wellington is New Zealand’s windiest city — registering gusts at gale speeds of 63 kph (39 mph) on about half the days of the year. But Wellington’s emergency management chief, Dan Neely, warned residents to take the warnings seriously because the southerly tempest was unusually strong and could threaten lives, Radio New Zealand reported.
In the city of Christchurch, the largest on the South Island, and in some nearby rural areas, heavy deluges caused rivers to spill over their banks, closing roads and prompting fears the floodwaters could reach homes. Local states of emergency were declared Thursday, including in Christchurch, Emergency Management Minister Mark Mitchell told reporters.
Orange-level warnings — the second most serious — were issued across parts of both islands for severe rain and large sea swells, and in some South Island districts for heavy snow. The storm system that lay across much of the country Thursday was due to ease Friday.
New Zealanders are accustomed to wild winter conditions because of geographic features that produce variable and sometimes extreme weather across the country of 5 million people. But it was unusual that such widespread warnings were issued.

RIYADH: Net foreign direct investment into Saudi Arabia reached SR22.1 billion ($5.89 billion) in the fourth quarter of 2024, representing a rise of 26 percent compared to the previous three months, newly released official data showed. 

According to the General Authority for Statistics, this figure was the highest level across the year, surpassing the SR15.5 billion seen in the first three months of 2024, the SR19 billion recorded in the second quarter, and the SR17.5 billion witnessed in the third.

Saudi Arabia is aiming to attract $100 billion in FDI a year by the end of this decade as it seeks to make significant strides in diversifying its economy and reducing its decades-long dependence on crude revenues.

When it came to inflows, GASTAT revealed SR23.8 billion was recieved in the final three months of 2024, marking a 17 percent rise from the third quarter. 

The value of FDI outflows stood at SR1.8 billion during the fourth quarter, marking a decrease of 39 percent compared to the previous three months. 

Comparison with 2023

The total net value of FDI in the fourth quarter was down 13 percent compared to the same period of 2023, where the figure stood at SR25.5 billion.

Compared to the final quarter of 2023, the value of inflows declined by 11 percent in the last three months of 2024. 

GASTAT added that the value of outflows registered a growth rate of 20 percent compared to the same period of 2023. 

Saudi Arabia’s FDI ambitions gain momentum

The latest figures come after Saudi Arabia rose to 13th place in Kearney’s 2025 Foreign Direct Investment Confidence Index, published in April. 

This is up one spot from last year and also means the Kingdom retained its position as the third-most attractive emerging market, signaling continued global confidence in its transformation strategy.

Kearney said that the advancement of Saudi Arabia in the ranking reflects the nation’s bold, reform-driven approach to building an internationally competitive, future-ready economy. 

In October, the Kingdom also approved an updated investment law to enhance FDI flows, with the Ministry of Investment stating that it would boost transparency and simplify the investment process.

The rule also promises enhanced protections for investors, including adherence to the rule of law, fair treatment, and property rights, alongside robust safeguards for intellectual property and seamless fund transfers.