Al-Aqeeq governorate, which is a major water source for the entire Baha Province, is replete with valleys spotted with green farms.
A number of dams have been constructed in the area to collect rainwater that is pumped to dry regions in and around Baha Province. This includes Al-Aqeeq Valley and Wadi Tharad Valley dams.
The abundance of water has made Al-Aqeeq a major farming center producing dates, wheat, barley, vegetables and fruits such as grapes, pomegranates, apricots and oranges.
Al-Aqeeq was once on ancient trade and pilgrim routes and has a significant role in Arabian history. A number of inscriptions discovered in the area are related to early Islamic history between the first and third centuries after the Hijra, the Saudi Press Agency reported yesterday.
The northern side of the region has several copper mines. There were several mines in operation during the time of the caliphs of the early Abbasid period (750 to 1258 AD).
The area is also well known for folk arts, including the Ardah dance, traditional music and has produced many famous Arabic poets. Traditional souks, which are famous for livestock among other things, are conducted mostly on Wednesdays.
Al-Aqeeq Valley a major water source
Al-Aqeeq Valley a major water source
Commander of Iran’s Quds Force is ‘in good health’, force’s deputy commander says
- Qaani had traveled to Lebanon after the killing of Nasrallah
DAMASCUS: The top commander of Iran’s Quds Force, Esmail Qaani, is in “good health,” the force’s deputy commander Iraj Masjedi said on Monday, after two Iranian security sources told Reuters he had been out of contact since strikes on Beirut last week.
“He is in good health and is carrying out his activities. Some ask us to issue a statement... there is no need for this,” Masjedi was quoted as saying by Iranian state media in reference to Qaani.
The Iranian Students’ News Agency reported that a message from Qaani was conveyed to a conference in solidarity with Palestinian children held on Monday in Tehran, adding that the commander could not attend “due to his being in another important meeting.”
One of the security officials told Reuters that Qaani was in Beirut’s southern suburbs, known as the Dahiyeh, during a strike last week that was reported to have targeted senior Hezbollah official Hashem Safieddine. The official said he was not meeting Safieddine.
Israel has been hitting multiple targets in Dahiyeh as it pursues a campaign against Iran-backed Lebanese group Hezbollah.
Tehran named Qaani the head of the Revolutionary Guards Corps’ overseas military-intelligence service after the United States assassinated his powerful predecessor Qassem Soleimani in a drone strike in Baghdad in 2020.
The Quds Force heavily influences its allied armed groups across the Middle East.
Closing Bell: TASI records 1.23% rise to close at 11,913
RIYADH: Saudi Arabia’s Tadawul All Share Index rose by 1.23 percent to reach 11,913.62 points on Monday mainly driven by a significant growth in Al Majed Oud Co.’s stock price alongside other top performers.
The total trading turnover of the benchmark index was SR7.02 billion ($1.87 billion), as 185 of the listed stocks advanced, while 45 retreated.
The MSCI Tadawul Index increased by 17.08 points, or 1.16 percent, to close at 1,492.
The Kingdom’s parallel market Nomu slipped, losing 6.79 points, or 0.03 percent, to close at 24,649.17 points. This comes as 44 of the listed stocks advanced, while as many as 23 retreated.
TASI also recorded one of the best intraday highs since June, reaching 1.5 percent growth.
The index’s top performer, Al Majed Oud Co., saw a 30 percent increase in its share price to close at SR122.20, thanks to a strong financial performance during the first half of the year.
The perfume manufacturer recorded SR513 million in sales, a 21 percent increase compared to the year before. The company also saw an 18.2 percent increase in net profit to reach SR119.5 million, according to a bourse filing.
The firm attributed the growth in sales and net profit to a rise in the number of stores and the full presence of the Hajj season, unlike the same period of the previous year.
Other top performers included Al-Baha Investment and Development Co. and Al-Omran Industrial Trading Co., with share prices rising by 10 percent to SR0.33 and 9.94 percent to SR39.25, respectively.
Red Sea International Co. and Anaam International Holding Group also recorded positive trajectories today, with share prices rising by 9.88 percent to SR65.60 and 9.52 percent to SR1.38, respectively.
Other Tadawul announcements include Almarai Co.’s acquisition of Hammoudeh Food Industries, a Jordanian dairy and cheese producer.
Almarai Co. will acquire Hammoudeh through its subsidiary Teeba Investment for SR263 million, subject to adjustments. The move aims to strengthen Almarai’s presence in Jordan, aligning with its broader growth strategy of expanding within core markets.
The acquisition will be financed through Almarai’s internal cash flows and remains contingent on meeting contractual conditions and receiving regulatory approvals in both Saudi Arabia and Jordan.
This transaction is expected to expand Almarai’s regional operations, enhance its product range, and leverage operational scale for increased growth and profitability.
The Saudi dairy and cheese giant saw a 1.62 percent increase in its share price to close its Monday trading at SR56.50.
Rasan Information Technology Co. has also announced a board recommendation to increase its capital from SR75.8 million to SR77.5 million by capitalizing retained earnings.
This increase includes the issuance of 1.7 million ordinary shares allocated to an employee share program as part of a long-term incentive plan.
The recommendation will be subject to approval by the upcoming Extraordinary General Assembly, the date of which will be announced after securing the required regulatory approvals.
Rasan Information Technology Co. closed the day with a 5.17 percent increase in its share price to reach SR61.
Biden, Harris mourn Oct 7 anniversary — and Palestinian deaths
- Biden said “that history will also remember October 7 as a dark day for the Palestinian people because of the conflict that Hamas unleashed that day”
WASHINGTON: US President Joe Biden and Democratic presidential candidate Kamala Harris mourned the bloody Hamas attack on Israel a year ago Monday while deploring heavy civilian losses of Palestinians in the subsequent Israeli operation.
“Let us bear witness to the unspeakable brutality of the October 7th attacks but also to the beauty of the lives that were stolen that day,” Biden said.
Harris, the vice president, said she would “never forget the horror of October 7, 2023” when Hamas militants launched a surprise attack into Israel, killing 1,205 people, most of them civilians, and taking 251 hostages.
“I am devastated by the loss and pain of the Israeli people,” she said in a statement.
But Biden added in his statement “that history will also remember October 7 as a dark day for the Palestinian people because of the conflict that Hamas unleashed that day.”
“Far too many civilians have suffered far too much during this year of conflict,” he said.
In her statement, Harris also described herself as “heartbroken over the scale of death and destruction in Gaza over the past year.”
More than 41,909 Palestinians, a majority of them civilians, have been killed in Israel’s military campaign in the Gaza Strip since the war began, according to data provided by the health ministry in Hamas-run Gaza. The UN has acknowledged these figures as reliable.
In their statements, Biden and Harris both underlined their commitment to the US military alliance with Israel.
“One year later, Vice President Harris and I remain fully committed to the safety of the Jewish people, the security of Israel, and its right to exist,” Biden said.
Harris noted that she would “always fight for the Palestinian people to be able to realize their right to dignity, freedom, security, and self-determination.”
“We also continue to believe that a diplomatic solution across the Israel-Lebanon border region is the only path to restore lasting calm,” she said, referring to the escalating war between Israel and Hezbollah in Lebanon.
PIF’s Aseer Investment Co. inks deal with private sector to develop tourism project
RIYADH: Saudi Arabia’s Abha city has secured a new investment partnership to boost tourism by developing culturally rich dining and retail experiences.
The Public Investment Fund firm Aseer Investment Co. has signed the deal with Nimr Real Estate and the National Co. for Tourism, or Syahya, to propel the project, the Saudi Press agency reported.
This aligns with the objectives of developing Abha, which will offer a range of benefits, including retail stores that reflect the cultural heritage of the Asir region.
The partnership also seeks to be a model for multiple collaborations with private sector investors and create more regional job opportunities.
Investments in the region are expected to create between 14,000 and 18,000 job opportunities and contribute to up to 6 percent of the non-oil gross domestic product within 10 years, as outlined by the CEO of AIC Osama Al-Othman in February.
The latest agreement seeks to empower the local community and develop and diversify the regional economy in line with the strategy of PIF.
In February, during PIF’s second Private Sector Forum, Prince Turki bin Talal, chairman of Aseer Investment Co., unveiled the company’s ambitious plans as it embarked on its operational journey to make the area the number one tourist destination in the Kingdom.
Asir aims to establish itself as a year-round global destination, showcasing its rich culture and diverse natural attractions. The region has pioneered the creation of a distinct tourism identity in the Kingdom, encapsulated in the slogan “Karam Al-Arouma,” or “the generosity of the people of Asir.”
Ancient palaces and forts in the Asir region have been restored to draw tourists seeking a blend of history and modernity.
These historical sites are spread across six different areas, each varying in size and elevation. Notable restorations include the Abu Nuqtah Palace in Tabab near Abha, Lahj Palace in Al-Dara village, and the Wazih and Aziz palaces, along with Al-Musalla fort in Al-Abu Sarah, situated in Al-Aziza village of Al-Soudah.
Many of these structures, some over 200 years old, are constructed from stone and wood. They have been transformed into hotels, complete with cafes, restaurants, and other modern amenities, all while preserving their original architectural charm.
Senior army officer among six Pakistani soldiers killed in gunfight with militants laid to rest
- Lt. Col. Muhammad Ali Shoukat and other soldiers were killed in an encounter with militants in North Waziristan
- Pakistan blames a recent surge in militancy on groups operating from Afghanistan, Kabul denies the allegation
ISLAMABAD: A senior army officer among six Pakistani soldiers, who were killed in a gunfight with militants in Pakistan’s restive northwest last week, were laid to rest in their native towns with full military honors, the Pakistani military said on Monday.
Lt. Col. Muhammad Ali Shoukat and five other soldiers were killed in an encounter with militants in the North Waziristan district of Pakistan’s Khyber Pakhtunkhwa (KP) province, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
The gunfight late Friday night also left six militants dead in the restive district that borders Afghanistan.
“A large number of serving senior military officers, military personnel, families of martyrs and local elders attended the funeral prayers,” the ISPR said in a statement. “These sacrifices of our martyrs strengthen our determination and courage in the ongoing war against terrorism.”
Pakistan has seen a rise in militant attacks in recent months and says militants mainly associated with the Pakistani Taliban frequently launch attacks from hideouts in neighboring Afghanistan, targeting police and other security forces.
Islamabad has even blamed Kabul’s Afghan Taliban rulers for facilitating anti-Pakistan militant groups. Kabul denies the charges.
