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Iran seizes vessel carrying 106,500 liters of fuel: Report

Iranian authorities have seized a vessel carrying 106,500 liters of smuggled fuel and arrested nine crew members, the semi-official Tasnim news agency reported on Monday.For the latest headlines, follow our Google News channel online or via the app.“On the orders of the Qeshm Prosecutor, the officers of the marine base, while identifying a vessel carrying 106,500 liters of smuggled fuel, started the process of seizing it,” said the chief justice of Hormozgan province.Iran, which has some of the world’s cheapest fuel prices due to heavy subsidies and the fall of its currency, has been fighting rampant fuel smuggling by land to neighboring states and by sea to Gulf Arab countries.It has frequently seized boats it says are being used for smuggling oil in the Gulf. Read more: Israeli PM Bennett says Iranian ‘immunity’ is overMysterious ‘incident’ in Iran was attack on drone development center: ReportIran shows off underground drone base, but not its location: State media
Source: Al Arabiya
Full Article: Iran seizes vessel carrying 106,500 liters of fuel: Report

Egypt plans to double exports to $100 bln in next 3 years: PM Madbouly

Egypt plans to double its exports to $100 billion within the next three years, Egyptian Prime Minister Mostafa Madbouly told Emirates News Agency WAM on Sunday.“We are working to increase and double exports to bring Egypt’s exports to more than $100 billion over the next two or three years,” the Egyptian Prime Minister said on Sunday.For the latest headlines, follow our Google News channel online or via the app.Madbouly’s comments come after he visited the United Arab Emirates on Saturday to meet with his Jordanian counterpart Bisher al-Khasawneh and the UAE President Sheikh Mohamed bin Rashid to launch the ‘Industrial Partnership for Sustainable Economic Growth.’The new partnership, launched on Sunday, marks a new era of opportunities to enhance economic growth across five key sectors: Food and agriculture, fertilizers, pharmaceuticals, textiles, minerals, and petrochemicals.The agreement was signed by the UAE’s Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed al-Jaber, Egyptian Minister of Industry and Trade Dr. Nevein Gamea, and Jordan’s Minister of Industry, Trade and Supply Yousef al-Shamali.“Today, we witness, through the launch of Industrial partnership for Sustainable Economic Growth, an important day for the peoples of the three countries, especially this partnership is in light of the unprecedented economic challenges witnessed globally,” said Madbouly. “These challenges reflect the significance of integration and coordination among our countries to secure and provide the main commodities and products our peoples need,” he added.The UAE, Egypt, and Jordan have diverse resources and unique competitive advantages, including access to raw materials. In particular, they enjoy robust capabilities in the pharmaceutical industries, with clear ambition to develop and expand them further and increase their production capacity, and also seek to strengthen their manufacturing capabilities in the steel, aluminum, petrochemicals, and derivatives sectors.The three countries’ combined industrial capacity represents around 26 percent of the total industrial capacity in the Middle East and North Africa region, according to WAM.Read more:UAE, Egypt, Jordan sign Industrial Partnership for Sustainable Economic GrowthUAE President receives Egypt, Jordan PMs in Abu Dhabi to sign agreementUAE’s ADQ to allocate $10 bln in investments in partnership with Egypt, Jordan
Source: Al Arabiya
Full Article: Egypt plans to double exports to 0 bln in next 3 years: PM Madbouly

Apartment prices in Riyadh increase by 20 pct in one year as transactions fall

Apartment prices in Saudi Arabia’s capital Riyadh have shot up by 20 percent on average in the last 12 months, according to an analysis by property consultant Knight Frank.For the latest headlines, follow our Google News channel online or via the app.Villa prices went up by 18.6 percent during that time. The increase in prices has led to a drop in transactions, suggesting that homebuyers are struggling to afford new properties.The number of property deals in the year to Q1 of 2022 fell by 27 percent, the company said in a statement.With the rising prices, this reflected a drop in deal values of two percent to $10.7 billion (40.4 billion riyals).Meanwhile in Jeddah, apartment prices increased by 4.9 percent in 12 months, while villa prices rose by 1.2 percent.The number of residential transactions also increased by five percent, representing a 46 percent increase in the value of sales.Prices of apartments in the Dammam metropolitan area increased by an average of 6.1 percent over the year, while average villa prices went up by 2.5 percent.Demand in the eastern city also plummeted by 32 percent, representing a 18 percent drop in the value of transactions.“The spectacular house price growth in the Kingdom mirrors what we are seeing around the world,” said Faisal Durrani, Head of Middle East Research at Knight Frank in a statement.“However, in Saudi Arabia, the government’s programs to boost home ownership have turbo-charged demand, development activity and house prices,” he added.The Riyadh market is increasingly turning to rental properties as job opportunities increase and the population becomes more transient, Knight Frank said.The Saudi government is undertaking major real estate developments in order to support the housing needs of its population.In 2017 it launched Roshn, a publicly-owned developer tasked with building suitable housing.On Monday, May 23 Roshn announced that it was building 18,000 units north of Jeddah over four million square meters.Roshn also plans new developments in Riyadh, Mecca, Asir, the Eastern Region, and al-Kharj.Read more: New PIF housing development to be built over 4 mln sq. meters in JeddahKey agreements set to be signed at Future Aviation Forum in RiyadhSaudi PIF’s developer Roshn to build 30,000 homes in Riyadh
Source: Al Arabiya
Full Article: Apartment prices in Riyadh increase by 20 pct in one year as transactions fall

Iran guards accuse ‘Zionists’ of assassinating colonel

The head of Iran’s Revolutionary Guards on Monday accused “Zionists” of assassinating a colonel in Tehran earlier this month, the Guards’ official website reported.For the latest headlines, follow our Google News channel online or via the app.Guards Colonel Sayyad Khodai “was martyred by the most vicious people, the Zionists, and God willing, we will avenge his death,” Major General Hossein Salami said.However, he did not use the term “Zionist regime,” routinely used by the Islamic republic as a direct reference to Israel.Read more: Israel warns against travel to Turkey citing assassination of Iranian colonelIsrael informed US officials it killed Iranian colonel: ReportIran will ‘avenge’ killing of IRGC colonel: President
Source: Al Arabiya
Full Article: Iran guards accuse ‘Zionists’ of assassinating colonel

Saudi Arabia’s NEOM launches regreening initiative to plant 100 mln trees by 2030

Saudi Arabia’s NEOM launched a regreening initiative to plant 100 million native trees, shrubs and grasses by 2030, the official Saudi Press Agency reported on Monday.The initiative, which was launched in collaboration with the National Center for Vegetation Cover and Combatting desertification, will also involve rehabilitating at least 1.5 million hectares of land, repairing wildlife habitats, and aiding the restoration of degraded land.For the latest headlines, follow our Google News channel online or via the app.“Protecting the natural landscape and ensuring the coexistence of human and natural habitats is integral to NEOM’s vision,” said NEOM CEO Nadhim al-Nasr.“By launching the NEOM Regreening Initiative in collaboration with MEWA, we are well underway to becoming a leading contributor to the conservation and preservation of one of the world's outstanding natural environments,” he added.The initiative was launched at the International Exhibition and Forum for Afforestation Technologies in Riyadh, an event which aims to support Saudi Vision 2030, the Saudi Green Initiative, and the Middle East Green Initiative.“The great support of HRH Crown Prince Mohammed bin Salman for environmental protection and the development of vegetation cover is reflected in launching major projects, including the large-scale Saudi Green Initiative with initial investment of over SAR 700 billion [approximately $186.6 billion], and regional greening project, the Middle East Green Initiative,” CERO of the National Center for Vegetation Cover and Combatting Desertification, Dr. Khaled Alabuqader, said.He added that the initiative supports the Kingdom’s plan to develop and diversify the economy, with the Saudi Green Initiative aiming to contribute to “building a green economy and reaching carbon neutrality by 2060.”“The new initiative launched by NEOM will have a great impact in supporting efforts aimed at protecting the environment, promoting nature and ensuring its sustainability, and directly contributing to the objectives of the Saudi Green Initiative,” Alabuqader explained.Ecosystem degradation and biodiversity loss are some of the most pressing issues facing the global environment today. Meanwhile, carbon emissions are worsening the impacts of climate change and depleting natural resources.Read more:Saudia airline announces commercial flights to Saudi megacity project NEOMSaudi megaproject NEOM will be subject to Kingdom’s regulations: SPASaudi Arabia’s FSDP launches ‘Global Award for Islamic Finance’
Source: Al Arabiya
Full Article: Saudi Arabia’s NEOM launches regreening initiative to plant 100 mln trees by 2030