萝莉视频

萝莉视频鈥檚 Asir region secures $1.06bn boost as total investments climb past $6.6bn

Organized by the Aseer Development Authority, the event drew over 1,500 participants, including ministers, business leaders, and regional experts. AN photos by Huda Bashatah
Organized by the Aseer Development Authority, the event drew over 1,500 participants, including ministers, business leaders, and regional experts. AN photos by Huda Bashatah
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Updated 28 May 2025

萝莉视频鈥檚 Asir region secures $1.06bn boost as total investments climb past $6.6bn

萝莉视频鈥檚 Asir region secures $1.06bn boost as total investments climb past $6.6bn

ABHA: 萝莉视频鈥檚 Asir region is set to receive a fresh investment boost of SR4 billion ($1.06 billion), raising the total value of government-backed projects in the area to more than SR25 billion, according to a senior official.

Speaking at the second Asir Investment Forum in Abha, Prince Turki bin Talal, governor of Asir, announced that over SR5 billion in investments are already underway. The newly pledged SR4 billion will be formally revealed during the two-day forum.

This investment surge is part of the Asir Region Development Strategy 鈥 the Kingdom鈥檚 first development plan tailored to a specific region 鈥 launched in 2021 by Crown Prince Mohammed bin Salman. The strategy aims to transform Asir into a world-class tourism destination, with a goal of attracting more than 10 million visitors annually by 2030, while driving sustainable development through tourism and strategic investment.

In his opening remarks, the governor said: 鈥淲ith more than SR25 billion committed to essential government projects and investments that have already begun implementation on the ground 鈥 through projects by the Public Investment Fund, the Tourism Development Fund, the Social Development Bank, and other financing entities 鈥 in line with the state鈥檚 belief that Asir is an economic powerhouse and a fundamental enabler for the private sector.鈥澛犅犅

He added: 鈥淪ince the launch of the Asir strategy, committed investments exceeding SR5 billion have already begun implementation, in addition to SR4 billion whose details will be announced during this forum.鈥澛




Prince Turki bin Talal, governor of Asir, speaks at the forum in Abha.

Sultan Al-Shahri, chief of investment at the Aseer Development Authority, underscored the scale of ongoing activity, noting that the region is progressing with 79 investment projects worth more than SR29 billion. Of these, 49 projects valued at SR25.6 billion are in the attraction phase, while 30 confirmed initiatives account for SR3.8 billion.聽

He said private sector agreements signed during the first edition of the forum amounted to SR1.7 billion, with presented opportunities totaling SR3 billion, signaling growing domestic and international investor interest aligned with Vision 2030鈥檚 objectives.聽

Held under the theme 鈥淎sir Thrives鈥 Invest Now,鈥 the second edition of the forum opened on May 27 at King Khalid University in Al-Fara鈥檃, Abha. Organized by the Aseer Development Authority, the event drew over 1,500 participants, including ministers, business leaders, and regional experts.聽聽

A key development announced at the forum was the launch of 鈥淨imam Al-Sarrah,鈥 a new investment arm intended to streamline land development and simplify regulatory processes to facilitate investor access.聽聽

Ministerial participation included Saudi Tourism Minister Ahmed Al-Khateeb, Qatari Minister of Municipal Affairs Abdullah Al-Atiyah, and Saudi Communications and Information Technology Minister Abdullah Al-Swaha.聽聽

During a plenary session, the ministers emphasized the strategic role of digital infrastructure, smart services, and mega-events 鈥 including Abha鈥檚 bid to host the 2034 FIFA World Cup 鈥 in driving economic momentum.聽聽

Saudi Commerce Minister Majid Al-Qasabi, addressing the forum virtually, affirmed the region鈥檚 transformation.聽

He stated that Asir is undergoing a qualitative transformation across various levels, positioning it as one of the most promising areas on 萝莉视频鈥檚 investment map 鈥 thanks to its human, natural, and economic resources.聽聽

Al-Qasabi noted that the Ministry of Commerce is currently reviewing over 110 commercial regulations to enhance the business environment. These include reforms to the Companies Law, Franchise Law, Anti-Concealment Law, and E-Commerce Law, as well as expanding the role of the National Competitiveness Center.聽聽聽

Al-Qasabi added: 鈥淲e succeeded in launching an extensive corrective campaign, allowing business owners to voluntarily adjust their status. This contributed to a significant drop in concealment cases and a notable increase in compliance.鈥澛犅

As of April 2025, the Kingdom has more than 1.7 million commercial registrations, including 90,000 in Asir 鈥 representing 5.3 percent of the national total.聽聽

According to Al-Qasabi, between 2018 and 2025, joint-stock companies in 萝莉视频 grew by 76 percent, from 2,300 to 4,000. Limited liability companies surged by 138 percent to 386,000, while sole proprietorships rose 32 percent to reach 1.2 million. 聽

Al-Qasabi also revealed that 萝莉视频 aims to finalize 20 free trade agreements by 2030.聽

Capital Market Authority Chairman Mohammed El-Kuwaiz addressed efforts to mobilize regional investment through financial markets, including accessible financing mechanisms and regulatory support.聽聽

Tourism, a key pillar of the Asir strategy, featured prominently throughout the forum. The Saudi tourism minister emphasized the region鈥檚 competitive edge.聽聽聽

鈥淭he region鈥檚 rich natural and cultural assets are key drivers of tourism investment, which is essential for sustainable development and community empowerment,鈥 Al-Khateeb said.聽

Figures released on the Ministry of Tourism鈥檚 X account during the event showed tourism momentum accelerating. Domestic tourism rose 11 percent year-on-year in the first quarter of 2025 to 1.4 million Saudi visitors. International tourism surged 42 percent to 68,900 visitors.聽

Tourism-related employment also climbed, with 47,700 jobs recorded 鈥 a 2.5 percent increase since late 2024.聽聽

The Saudization rate stood at 16.2 percent, with gender participation balanced. In Ministry-supervised sectors, 2,600 jobs were recorded, with a 29 percent Saudization rate and near-equal gender representation.聽

The concurrent exhibition showcased key regional projects and institutional stakeholders, highlighting growing public-private collaboration in the Asir region.聽

The forum concluded with a reaffirmation of Asir鈥檚 role as a cornerstone of 萝莉视频鈥檚 diversification strategy 鈥 one that aims to balance economic opportunity with cultural preservation and long-term sustainability.


Lebanon embraces digital transformation as key to reform and recovery

Lebanon embraces digital transformation as key to reform and recovery
Updated 03 June 2025

Lebanon embraces digital transformation as key to reform and recovery

Lebanon embraces digital transformation as key to reform and recovery
  • Aoun calls it a 鈥榮overeign decision鈥 to combat corruption and modernize governance

BEIRUT: Lebanon has pledged to pursue comprehensive digital transformation, with President Joseph Aoun framing it as the nation鈥檚 best hope to tackle corruption, moderne governance, and engage its skilled diaspora in rebuilding efforts.

Speaking at the 鈥淪mart Government, Diaspora Experts for Lebanon鈥 conference in Beirut on June 3, Aoun described the initiative as a 鈥渟overeign decision to build a better future.鈥

The event, organized by the Lebanese Executives Council, aimed to connect Lebanon鈥檚 global talent pool with efforts to revitalize both public and private sectors.

The conference鈥檚 core themes included smart governance, public sector reform, and private sector collaboration, all driven by digital innovation. Aoun emphasized that Lebanon must abandon outdated and corrupt administrative structures in favor of efficient, transparent systems.

鈥淒igital transformation is not a technical choice. Digitalization is not just a government project; it is a national project.鈥 He also announced Lebanon鈥檚 application to join the Digital Cooperation Organization, a global body founded in 2020 to promote inclusive growth in the digital economy.

Aoun criticized systemic corruption that forces citizens to navigate bureaucracy through bribery or political favors. He highlighted the need for a government that serves all Lebanese equally, free from sectarian or partisan influences.

鈥淲e want Lebanon to open up to regional and international partnerships and to be eligible for foreign investments. This goal is an absolute necessity, indispensable and unavoidable,鈥 Aoun said. 鈥淭he time has come for them (the diaspora) to achieve it for their homeland and in their homeland.鈥

The day-long conference brought together ministers, private sector leaders, and diaspora experts for panel discussions on digitizing Lebanon鈥檚 institutions. Topics included the creation of a national digital ID, policy harmonization, and leveraging technology to reconstruct public services.

In an interview with Arab News, LEC President Rabih El-Amine highlighted the importance of engaging the Lebanese diaspora.

鈥淲e know by fact that diaspora is willing to help, but they don鈥檛 have the medium to offer this help, and we know by fact that the government needs this help, but they don鈥檛 know how to reach the diaspora,鈥 he said.

El-Amine stressed that despite weak governance, Lebanon鈥檚 private sector and diaspora have helped sustain the country. However, implementing modern laws and digital systems is now critical. He called the digital ID system a foundational step toward enabling services like passport renewals and license issuance.

鈥淭his is probably the starting point. But I think the biggest challenge for us is how we can make the government and the parliament work together in order to issue modern laws for this system to take place,鈥 he added.

Hajar El-Haddaoui, director general of the DCO, expressed strong confidence in Lebanon鈥檚 digital potential, citing the country鈥檚 talent pool and expansive diaspora.

鈥淲e trust that Lebanon does have all the ingredients to succeed during this digital economy transformation,鈥 she told Arab News.

She said the DCO鈥檚 support will focus on investment, public-private partnerships, and capacity-building, including the Digital Economy Navigator program, which helps countries assess and close gaps in digital readiness.

El-Haddaoui underscored the importance of aligned policies, strong infrastructure, and openness to international cooperation.

鈥淎ny digital economy or digital transformation needs harmonization of policies. That鈥檚 really important and critical. Working on a regulation and standard of regulation is really one of the pillars of successful digital transformation,鈥 she said.

Speaking to Arab News, Fadi Makki, Lebanon鈥檚 minister of state for administrative development affairs, outlined key reforms to upgrade the country鈥檚 administrative structures.

鈥淲e鈥檙e far behind in digital readiness. We鈥檙e trying to catch up through digital transformation, skilling, and reskilling programs,鈥 he said.

Makki explained that Lebanon lacks planning and performance monitoring units that are standard in functional governments. He proposed modernizing human resources and encouraging the private sector to deliver services, while the government ensures oversight.

鈥淲e don鈥檛 want to compete with them (the private sector), but at the same time, we want to create opportunities for them while ensuring we provide the necessary oversight like any government,鈥 he told Arab News..

鈥淥ne of the missing functions in government is planning and performance monitoring. We don鈥檛 have that. So, part of our work is creating these basic units, not just centrally but eventually in every ministry. Without them, we鈥檙e building on weak foundations,鈥 he added.

The event also featured remarks from Lebanese American University鈥檚 Chaouki Abdallah and panels with Minister of Technology and Artificial Intelligence Kamal Shehadi, along with global figures like Jad Bitar of the Boston Consulting Group.

In closing, Prime Minister Nawaf Salam thanked all participants for their contributions and reaffirmed the government鈥檚 resolve.

鈥淒igital transformation in Lebanon is not a luxury but a necessity and a reform,鈥 he said. 鈥淚t directly serves the citizens, reduces corruption, and enhances the quality of life. It is also a prerequisite for economic growth.鈥

Salam called for full inter-ministerial coordination, asserting, 鈥淟ebanon cannot remain outside the digital world or on its margins.鈥

He concluded: 鈥淲e are determined to be part of the regional and global digital economy and to reconnect Lebanon with the chains of knowledge and production in the 21st century.鈥

As Lebanon continues to navigate a complex political and economic crisis, the conference marked a clear call for reform. The message from both domestic and diaspora leaders was unambiguous: digital transformation is not only possible鈥攊t is imperative.


萝莉视频鈥檚 non-oil sector growth continues in May as PMI climbs to 55.8

萝莉视频鈥檚 non-oil sector growth continues in May as PMI climbs to 55.8
Updated 03 June 2025

萝莉视频鈥檚 non-oil sector growth continues in May as PMI climbs to 55.8

萝莉视频鈥檚 non-oil sector growth continues in May as PMI climbs to 55.8

RIYADH: 萝莉视频鈥檚 non-oil private sector registered an improvement in operating conditions in May, as the Riyad Bank Purchasing Managers鈥 Index rose to 55.8, signaling continued economic expansion, a new analysis showed.

According to the latest Riyad Bank 萝莉视频 PMI report compiled by S&P Global, the index edged up from 55.6 in April, remaining well above the 50 mark that separates growth from contraction.

However, the figure remained below the recent high of 60.5 recorded at the beginning of 2025.

The latest data pointed to a sharp increase in new order volumes, which rebounded after weakening in April.

Companies linked the increase to stronger customer demand, improved sales performance, industrial development, and marketing efforts. Foreign orders also rose, but at the slowest pace in seven months.

鈥溌芾蚴悠碘檚 non-oil economy maintained solid momentum in May, with the PMI rising slightly to 55.8 from 55.6. While the pace of output growth eased to its softest since September 2024, overall activity remained robust,鈥 Naif Al-Ghaith, chief economist at Riyad Bank, said.

He added: 鈥淔irms reported improvements in demand, new project starts, and greater labor capacity as key drivers. This expansion, though slightly softer, reflects stable operating conditions and continued confidence across the private sector midway through the second quarter.鈥

The survey showed that output continued to grow, though at a softer rate for the fourth straight month. The construction sector recorded the strongest rises in both output and new business.

Employment in the non-oil sector rose sharply in May, with the increase in staffing levels among the fastest seen in over a decade. Surveyed businesses attributed this to expansion efforts and higher output needs.

鈥淟ooking ahead, sentiment among non-oil firms has strengthened visibly. Business expectations looking forward reached their highest level since late 2023. Hiring momentum remained strong as companies expanded teams to support output growth, particularly in operations and sales,鈥 Al-Ghaith said.

Meanwhile, purchasing activity surged to a 14-month high. However, firms showed greater caution toward stockpiling, resulting in a slower accumulation of inventories compared to April.

The report also indicated that input prices rose sharply, mainly due to increased supplier charges for raw materials.

Wage-related inflation, however, eased. Despite cost pressures, companies reduced their selling prices, largely driven by a decline in service sector charges and competitive market conditions.

The survey data were collected from around 400 private sector companies across the manufacturing, construction, wholesale, retail, and services sectors.


Closing Bell: Saudi main index closes in red at 10,832聽

Closing Bell: Saudi main index closes in red at 10,832聽
Updated 03 June 2025

Closing Bell: Saudi main index closes in red at 10,832聽

Closing Bell: Saudi main index closes in red at 10,832聽

RIYADH: 萝莉视频鈥檚 Tadawul All Share Index slipped on Tuesday, as it shed 17.66 points, or 0.16 percent, to close at 10,832.43. 

The total trading turnover of the benchmark index was SR3.55 billion ($946 million), with 123 of the listed stocks advancing and 106 declining.  

The Kingdom鈥檚 parallel market Nomu gained 65.84 points to close at 27,049.84.  

The MSCI Tadawul Index edged down by 0.08 percent to 1,383.41.  

The best-performing stock on the main market was Fawaz Abdulaziz Alhokair Co., with its share price surging by 6.71 percent to SR17.50.  

The share price of Naseej International Trading Co. also rose by 6.14 percent to SR83.  

Saudi Research and Media Group also saw its stock price rising by 5.92 percent to SR150.40.  

Conversely, the share price of United Carton Industries Co., dropped by 3.98 percent to SR41.  

On the announcements front, Meyar Co. said that it received a contract worth SR1.67 million from the Municipality of Unaizah.  

In a Tadawul statement, the company revealed that the agreement includes the supply of curbs stones and interlock tiles to the municipality. It added that there are no related parties involved in the deal.  

The share price of Meyar Co. edged up by 0.93 percent to SR54.  

Dar Almarkabah for Renting Cars Co. said that it signed a chauffeur-driven car rental contract valued at SR6.98 million with Wareed Health Medical Co.  

In a Tadawul statement, the company revealed that the contract period is valid for 24 months, adding that the impact of the deal will be visible in the firm鈥檚 financials during the second quarter of this year.  

The share price of Dar Almarkabah for Renting Cars Co. was unchanged at SR2.47.  


Qatar records $137m budget deficit in Q1, ending 3-year surplus streak

Qatar records $137m budget deficit in Q1, ending 3-year surplus streak
Updated 03 June 2025

Qatar records $137m budget deficit in Q1, ending 3-year surplus streak

Qatar records $137m budget deficit in Q1, ending 3-year surplus streak

RIYADH: Qatar posted its first budget deficit in more than three years 鈥 a 500 million Qatari riyal ($137 million) shortfall in the first quarter of 2025, the Ministry of Finance reported. 

Ministry figures show the same period last year registered a 2.06-billion-riyal surplus. 

This comes as Doha undertakes a cautious fiscal recalibration mid-way through its Third National Development Strategy, relying on conservative oil-price assumptions, program-based budgeting, and a long-anticipated value-added tax rollout to diversify revenue. 

In a series of posts on X, the ministry stated: 鈥淭he State Budget recorded a deficit of QR 0.5 bn in Q1 2025, and the deficit was financed through debt instruments.鈥  

It added: 鈥淭he value of contracts with foreign companies reached QR 1.5 billion in the first quarter of 2025, representing a 50 percent increase compared to the same quarter last year.鈥 

The budget figures showed that revenue fell 7.5 percent year on year to 49.4 billion riyals, with hydrocarbons supplying 42.5 billion riyals while non-oil receipts held at 6.9 billion riyals. 

Spending slipped 2.8 percent to 49.9 billion riyals, comprising 6.9 billion riyals for salaries and wages, 18.5 billion riyals in other current costs, and a combined 14.3 billion riyals for major and minor capital projects. 

Despite the tighter envelope, procurement remained brisk: state entities awarded about 6.4 billion riyals in tenders and auctions, including 1.5 billion riyals to overseas contractors 鈥 up 50 percent on the same period last year. 

The ministry鈥檚 Sector Business Index showed the busiest spending concentrations in municipality and environment, health, energy and the General Secretariat of the Council of Ministers. 

The International Monetary Fund鈥檚 February 2025 assessment said Qatar鈥檚 economy was moving past the post-World Cup slowdown. 

Real gross domestic product is expected to grow about two percent in 2024-25, then average roughly four-and-three-quarters percent once the planned expansion of liquefied natural gas output and the early reforms of the Third National Development Strategy take effect. 

Inflation should fall to 1 percent this year and settle near 2 percent over the medium term, it added. 

Lower hydrocarbon prices cut the 2023 current-account and budget surpluses to 17 percent and five-and-a-half percent of national output, with a further easing underway; however, both balances should remain positive as gas export volumes rise. 

Banks remain sound, holding capital equal to about one-fifth of risk-weighted assets, while problem loans stay below four percent and are well provisioned.  

The IMF urged Doha to introduce a value-added tax, adopt a medium-term budget anchor, sharpen the efficiency of public spending, deepen financial-sector oversight, and accelerate private sector-led diversification to secure long-run resilience. 


Saudi Aramco secures $5bn in bond sale to bolster financial flexibility

Saudi Aramco secures $5bn in bond sale to bolster financial flexibility
Updated 03 June 2025

Saudi Aramco secures $5bn in bond sale to bolster financial flexibility

Saudi Aramco secures $5bn in bond sale to bolster financial flexibility

RIYADH: Saudi Aramco has raised $5 billion through a three-tranche bond issuance under its Global Medium-Term Note Program, the company said.   

The senior notes, which were priced on May 27 and listed on the London Stock Exchange, include $1.5 billion maturing in 2030 at a 4.75 percent coupon, $1.25 billion maturing in 2035 at 5.375 percent, and $2.25 billion maturing in 2055 with a 6.375 percent coupon.  

This follows Aramco鈥檚 $6 billion bond sale in July 2024 and comes amid heightened Gulf debt market activity, including 萝莉视频鈥檚 Public Investment Fund, which has raised $5.25 billion so far in 2025 through multiple issuances 鈥 including a $4 billion bond in January 鈥 and Abu Dhabi鈥檚 Masdar, which recently issued a $1 billion green bond. 

Ziad Al-Murshed, executive vice president of finance and chief financial officer at Aramco, said: 鈥淭he strong demand for our new bond offering, as reflected in the diversified orderbook, is a testament to global investors鈥 confidence in Aramco鈥檚 financial resilience and robust balance sheet.鈥   

He added: 鈥淧ricing the offering with no new issuance premium across all tranches clearly reflects Aramco鈥檚 unique long-term credit proposition.鈥   

The bond offering saw tightened spreads across all maturities, indicating strong investor interest.  

The five-year notes were priced at 80 basis points over US Treasuries, while the 10- and 30-year tranches were set at 95 and 155 basis points respectively 鈥 each tighter than initial price guidance earlier in the day.  

Proceeds from the latest issue will be used for general corporate purposes, as the state oil giant continues to support 萝莉视频鈥檚 Vision 2030 diversification strategy.   

The issuance comes as Aramco navigates a more challenging environment marked by declining profits and lower crude prices.   

The company reported a 4.6 percent drop in first quarter earnings, citing weaker sales and rising operating costs. In March, it announced plans to cut its dividend by nearly a third due to declining free cash flow. 

Amid these headwinds, Aramco is also exploring asset sales and capital market strategies to maintain liquidity and finance its global expansion ambitions.   

In May, the company published a new prospectus for a sukuk issuance program, signaling potential future activity in debt markets.   

The sukuk, also to be listed on the London Stock Exchange, may be issued over the next 12 months. 

Meanwhile, Masdar 鈥 Abu Dhabi鈥檚 renewable energy company 鈥 also returned to the debt market in May with a $1 billion green bond issuance.   

The deal was split into two equal tranches of $500 million each, with maturities of five and ten years and coupon rates of 4.875 percent and 5.375 percent, respectively.   

The bond was significantly oversubscribed, receiving $6.6 billion in peak orders, which highlights the growing global appetite for sustainable investment instruments.