JEDDAH: Saudi Arabia's Tourism Development Fund (TDF) on Monday signed two agreements with the Arab National Bank (ANB) to increase the financing of tourism projects in the Kingdom.
One agreement includes the provision of joint financing mechanisms between the two parties to support tourism projects in the Kingdom. The other deal spells out mechanisms to provide TDF with financial guarantees to provide financing solutions to small and medium enterprises (SMEs) in the tourism sector.
Qusai Al-Fakhri, TDF chief executive officer, said the agreements will give a boost to the Kingdom’s tourism sector.
He said the initiative will help develop tourism agencies in major cities.
Al-Fakhri said Fund will continue forging partnerships with the banking sector to boost investments and help achieve the Kingdom’s goals for the tourism sector.
Saudi tourism fund signs deal to boost investments
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Saudi tourism fund signs deal to boost investments
- TDF CEO Qusai Al-Fakhri said the agreements will give a boost to Saudi Arabia's tourism sector
Ancient Saudi city of Qurh a historic stop for pilgrim and trade caravans
- Qurh was capital of Wadi Al-Qura, a center for Arab markets
- Architectural features date back to the early Islamic periods
ALULA: Qurh, an ancient city in Saudi Arabia’s AlUla governorate, served for centuries as a vital hub for pilgrims and traders, according to the Saudi Press Agency.
Located about 20 km south of AlUla’s old town, near the village of Mughayra, Qurh is one of the Royal Commission for AlUla’s archaeological sites. AlUla’s other main heritage sites are Dadan, Hegra and the Old Town.
Qurh’s ruins spread across an expansive plain surrounded by medium-height mountains. The ruins include remnants of architectural structures, marketplaces, streets, and palaces, all of which highlight the city’s once-thriving economic and urban life.
Architectural features dating back to the early Islamic periods also suggest that settlement and cultural growth continued after the advent of Islam.
Qurh was the capital of Wadi Al-Qura and a center for Arab markets, as described by the historian Hisham bin Al-Kalbi, who identified it as a commercial and cultural center and a cradle of the arts.
The city was located on the route of the historic Incense Road, a trade artery used to transport precious goods from the southern Arabian Peninsula to the north, passing through Wadi Al-Qura.
According to Abdulrahman Alsuhaibani, the RCA’s vice president for culture, the excavations in Qurh have so far proved “that there was some interaction with China at the beginning of the Islamic period.”
“Evidence exists of interactions and trade extending as far as China,” he said in an interview produced by FT Longitude in partnership with the RCA.
“With China, for example, (there were) merchants who brought porcelain, medicines and silk to Arabia with incense for sure, ivory, while other valuables travelled in the opposite directions.”
AlUla, part of Saudi Arabia’s western province of Madinah, has been home to the ancient Dadanites, Lihyanites, Nabataeans, Sabaeans, Minoans, Egyptian, Romans and Arabs, he said.
Saudi defense minister holds talks with UK security, defense officials
- Prince Khalid bin Salman and UK National Security Advisor Jonathan Powell discussed strategic partnership between the two countries
LONDON: Saudi Arabia’s Defense Minister Prince Khalid bin Salman held talks with the UK’s National Security Advisor Jonathan Powell in London on Wednesday.
The two sides “reviewed the strong friendship and strategic partnership between Saudi Arabia and the UK,” the Saudi Press Agency reported. “They also reviewed areas of cooperation and discussed regional and global developments, as well as ongoing efforts to support security and stability.”
The talks followed a meeting on Tuesday between Prince Khalid and British Defense Secretary John Healey during which they discussed strategic defense cooperation.
Saudi Embassy coordinating with Turkiye to find boy who fell into a creek
- The embassy coordinated with child’s family after he reportedly went missing in a river in Trabzon province
- Turkish authorities are investigating the incident
ANKARA: The Saudi Arabian Embassy in Turkiye confirmed on Wednesday that it is coordinating with Turkish authorities to search for a Saudi child who reportedly fell into Haldizen Creek in Uzungol region.
According to the Saudi Press Agency, the embassy issued a statement clarifying the reports circulating in media outlets and across social media platforms regarding the incident in Trabzon province.
“From the first moments of the incident, the embassy coordinated with the child’s family and contacted the relevant Turkish authorities to investigate the incident,” the statement said.
“The authorities have responded and are gratefully conducting extensive searches in the area and its surrounding to locate the child. We ask God Almighty to crown these efforts with success and to protect everyone from all harm,” it added.
Founding nations sign Global Water Organization charter in Riyadh
- Ceremony was attended by Saudi FM Prince Faisal bin Farhan, who highlighted the importance of the GWO in tackling water issues worldwide
- Prince Faisal said that Saudi Arabia would provide financial and logistical support to the GWO for the next five years
The Global Water Organization launched operations from its headquarters in Riyadh on Wednesday, with founding member states signing its charter.
The event was attended by officials and diplomats, including Saudi Arabia’s Foreign Affairs Minister Prince Faisal bin Farhan; Environment, Water and Agriculture Minister Abdulrahman Al-Fadhli; and Greek Ambassador Alexis Konstantopoulos.
Prince Faisal highlighted the importance of the GWO in tackling water issues worldwide holistically.
“The establishment of this organization reaffirms the Kingdom’s commitment and keenness to international cooperation in all fields, including the water sector,” said the minister.
He added: “This organization is considered a practical, comprehensive, and multilateral platform aimed at promoting dialogue among countries, unifying efforts, enhancing coordination and cooperation to face the growing challenges related to water.”
“It also aims to enable partnerships and find innovative solutions, contributing to building a prosperous future for all nations.”
Prince Faisal said the Kingdom views water issues as a humanitarian and development priority, recognizing the importance of this vital resource to the stability and growth of societies.
“The Kingdom continues to support an approach based on international cooperation, knowledge exchange, and sustainable solutions that contribute to the efficient management of important natural resources.”
Other officials also shared their thoughts on the importance of securing water sources and the development of the sector.
Al-Fadhli said: “Water is a basic necessity for life in general and is essential for all economic development in this world, whether for agriculture, industry, mining, tourism, or entertainment. Competition for this vital resource is increasing.”
He continued: “The challenges facing the world in general, and no one is exempt from them at the present time, can be summarized as follows: the scarcity of water resources, quality as well, and the pollution it (water resources) have been exposed to as a result of human activities in recent years, and also the high cost of these projects.”
Al-Fadhli said there was an urgent need to rethink engineering, in general, and consider the “engineering value” of these projects, along with encouraging development in water-related efforts.
“I must encourage research, innovation, and development, and always ask how we can complete these projects at a lower cost while maintaining quality.”
He emphasized the importance of having an integrated system that covers all stages of the water cycle.
This includes adopting innovative economic models based on cost-benefit analysis, introducing new financing mechanisms, reducing reliance on government subsidies, and actively involving the private sector.
The GWO’s charter was signed by representatives from the founding countries: Saudi Arabia, Kuwait, Qatar, Spain, Senegal, Pakistan, Greece and Mauritania.
Saudi FM receives US envoy to Syria in Riyadh
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan received US envoy to the Syrian Arab Republic Thomas Barrack in Riyadh on Wednesday.
During the meeting, they discussed steps to provide economic, humanitarian and other support to the Syrian people, the Saudi Foreign Ministry said in a post on X.
Meanwhile, Saudi Arabia’s Deputy Minister of Foreign Affairs Waleed Elkhereiji received Ambassador of Italy to the Kingdom Carlo Balducci in Riyadh on Wednesday.
They discussed bilateral relations and other topics of common interest.
