ISTANBUL: A Russian naval spy ship on Thursday sank in the Black Sea off Turkey’s coast after hitting a Togo-flagged vessel packed with livestock but all of its 78 crew were rescued by Turkish coast guards.
The Russian military said the Liman — a former research ship re-fitted as an intelligence vessel — had a hole ripped out of its hull in the early afternoon incident.
The collision took place in fog outside the northwestern entrance to the Bosphorus Strait, one of the world’s biggest shipping thoroughfares that passes through Istanbul into the Sea of Marmara.
The Turkish coast guard said in a statement that the collision involved the Togo-flagged vessel Youzarsif H which was carrying a cargo of livestock.
It said that of 78 Russian personnel on board the ship, 63 were rescued by the Turkish coast guard and the other 15 by the Youzarsif H itself.
They were then transferred to a Turkish military ship, it said, without giving further details. “All the personnel were evacuated,” it said.
Turkish media said the Youzarsif suffered minor damage and went on its way after the incident.
The Russian Defense Ministry confirmed the ship had gone down and said the crew were safe and would be taken from a Turkish vessel back onto a Russian ship.
Turkish news agency Dogan said the area where the ships collided was shrouded in thick fog at the time, suggesting that the incident was accidental.
Turkish Prime Minister Binali Yildirim spoke to his Russian counterpart Dmitry Medvedev by phone over the incident, describing it as an accident and expressing his sadness, the state-run Anadolu news agency said.
It was not known where the Liman was sailing from or its destination.
The ship was built as a hydrography research vessel in 1970 but turned into a spy ship in 1989 and armed with an Igla missile launcher, according to public records.
Russian warships have traveled frequently through the Bosphorus Strait to and from the Syrian coast, where a navy presence has been deployed to bolster Russia’s air campaign in support of Syrian President Bashar Assad.
In February, military sources told Russian media that the Liman would be observing the North Atlantic Treaty Organization’s (NATO) Sea Shield exercise in the Black Sea.
Cem Devrim Yaylali, an Istanbul-based Turkish naval expert and editor of the Bosphorus Naval News website, said the Liman had previously been to the Syrian coast but it was not clear where it was headed on this occasion.
“A collision is not something that happens very frequently,” he told AFP.
He said the incident was an embarrassment for the Russian authorities as the Liman was likely carrying sensitive surveillance equipment that Moscow would want returned.
“I imagine there will be a salvage effort to raise the ship before anyone else sees it,” he said.
“If the ship cannot be salvaged then Russia surely will try to take away the sensitive equipment from on board by divers.”
Relations between Russia and Turkey hit their worst state since the Cold War in November 2015 when Turkish war planes shot down a Russian jet over the Syrian border.
Russian spy ship sinks off Turkey after collision
Russian spy ship sinks off Turkey after collision
Closing Bell: Saudi main index slips to close at 11,411
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 132.17 points, or 1.14 percent, to close at 11,411.50.
The total trading turnover of the benchmark index was SR3.5 billion ($944.3 million), as 41 stocks advanced and 198 retreated.
Similarly, the Kingdom’s parallel market Nomu lost 116.45 points, or 0.41 percent, to close at 28,013.32. This comes as 30 of the listed stocks advanced while 39 retreated.
The MSCI Tadawul Index lost 20.74 points, or 1.41 percent, to close at 1,451.17.
The best-performing stock of the day was Umm Al Qura for Development and Construction Co., whose share price surged 2.77 percent to SR25.95.
Other top performers included National Industrialization Co., which saw its share price rise 2.26 percent to SR9.49, and Arabian Contracting Services Co., whose share price increased 1.69 percent to SR132.00.
Zahrat Al Waha for Trading Co. recorded the most significant drop, falling 7.05 percent to SR27.70.
Saudi Automotive Services Co. saw its stock prices fall 5.67 percent to SR61.50.
Emaar The Economic City also saw its stock prices decline 4.50 percent to SR14.00.
On the announcements front, Dar Alarkan Real Estate Development Co. reported its interim financial results for the period ending March 31.
According to a Tadawul statement, the company posted a net profit of SR209.34 million in the first quarter of 2025, marking a 36.2 percent increase compared to the same quarter in 2024.
The rise in net income was primarily driven by higher property sales. Increased lease revenues, lower finance costs, and greater non-operating income from Islamic Murabaha deposits also contributed to the gains, though these were partially offset by higher operating expenses and reduced earnings from associates.
Dar Alarkan Real Estate Development Co. ended the session at SR21.04, down 1.05 percent.
Saudi Aramco Base Oil Co. – Luberef has announced its interim financial results for the first quarter of 2025. A bourse filing showed the company recorded a net profit of SR221.5 million for the period ending March 31, reflecting a 7.3 percent decline compared to the same quarter last year. The drop in earnings was mainly due to lower by-product crack margins, despite an increase in base oil crack margins.
Luberef’s shares closed the session at SR98.70, down 0.20 percent.
Dr. Sulaiman Al Habib Medical Services Group has announced its interim financial results for the period ending March 31. According to a Tadawul statement, the firm posted a net profit of SR557.01 million in the first quarter of 2025, marking a 1.09 percent increase compared to the same quarter in 2024. The growth was primarily driven by higher revenue, although fixed operating costs from recent strategic expansions have temporarily weighed on profit margins. These expansions are still ramping up and are expected to gradually reach full operational efficiency.
The company’s shares closed at SR289.00, down 2.15 percent.
The National Agricultural Development Co. reported its consolidated financial results for the first quarter of 2025, posting a net profit of SR103.42 million for the period ending March 31 — a 2.06 percent rise compared to the year-earlier period.
The increase was supported by higher revenue, reduced general and administrative expenses, stronger operating profit, and increased treasury income. These gains were partially offset by higher cost of sales, increased impairment losses on trade and other receivables, and a decline in finance costs.
NADEC shares ended the session at SR22.20, down 1.54 percent.
Saudi Basic Industries Corp. announced a net loss of SR1.21 billion for the first quarter of 2025, compared to a net profit of SR250 million in the same period last year. The loss was primarily due to a SR1.05 billion decline in gross profit, driven by higher feedstock prices and increased operating expenses. These included non-recurring costs of SR1.07 billion linked to a strategic restructuring initiative aimed at improving long-term performance and reducing costs.
SABIC shares closed at SR60.70, down 2.77 percent.
Pakistan intends to brief UN Security Council on recent standoff with India
- Relations between the nuclear-armed neighbors have plummeted after India accused Pakistan of backing an attack in Kashmir that killed 26 tourists
- Islamabad has rejected the allegation and has reached out to foreign capitals and officials amid fears India may conduct limited strikes against it
ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister, Ishaq Dar, has tasked the country’s envoy to the United Nations (UN) to take measures to summon a Security Council meeting for a briefing on heightened tensions with India since an attack in Indian-administered Kashmir, the Pakistani foreign ministry said on Sunday.
Tensions have soared between Pakistan and India to the highest point in recent years after New Delhi blamed the attack, which killed 26 tourists in Pahalgam on April 22, on Islamabad. Pakistan has denied the allegation and called for a credible international investigation.
The nuclear-armed rivals have since expelled each other’s diplomats and citizens, ordered the border shut and closed their airspace to each other. New Delhi has also suspended a crucial water-sharing treaty with Islamabad, amid reports of skirmishes along their de facto border in Kashmir.
The Pakistani foreign ministry said Islamabad has decided to formally brief the UNSC on the current situation in South Asia and Dar has instructed Asim Iftikhar Ahmad, Pakistan’s permanent representative to the UN, to arrange for it.
“Pakistan will inform the UN Security Council about India’s aggressive actions, provocations and inflammatory statements,” the foreign ministry said. “Pakistan will clarify how India’s aggressive actions are jeopardizing peace and security in South Asia and beyond the region.”
Islamabad will specifically highlight at the UNSC meeting India’s suspension of the Indus Waters Treaty, which ensures water for 80 percent of Pakistani farmland, according to its foreign ministry.
India suspended the 1960 World Bank-mediated treaty a day after the Pahalgam attack, saying the suspension would last until “Pakistan credibly and irrevocably abjures its support for cross-border terrorism.” Pakistan has described the suspension of treat as an “act of war.”
Public anger has swelled in India and Prime Minister Narendra Modi has vowed to pursue the attackers “to the ends of the earth.” A Pakistani minister has said that Islamabad has “credible intelligence” that India is planning to attack Pakistan within days.
Pakistani and Indian troops have exchanged fire along their de facto border in Kashmir. The disputed region is split between India and Pakistan and claimed by both in its entirety. The two countries have fought two wars and one limited conflict over the Himalayan territory.
Top Pakistani leaders have reached out to foreign capitals and senior officials in China, United States, United Kingdom, Saudi Arabia, Iran, Egypt and other countries, amid fears that India’s possible actions over the April 22 attack may lead to a wider conflict in the region.
“This important diplomatic move is part of Pakistan’s efforts to present accurate facts to the international community,” the foreign ministry added.
Riyadh conference discusses future of occupational health
- Minister launches initiatives to enhance Kingdom’s workplace safety
RIYADH: The seventh Global Occupational Safety and Health Conference opened in Riyadh on Sunday under the theme “The Future of Occupational Safety and Health.”
The three-day event was inaugurated by Ahmed Al-Rajhi, minister of human resources and social development and chairman of the National Council for Occupational Safety and Health.
Al-Rajhi launched initiatives to enhance Saudi Arabia’s occupational safety and health system, including the establishment of the National Institute for Occupational Safety and Health, the National Compliance and Excellence Incentives Program, and the Occupational Safety and Health Standards Guide.
Al-Rajhi said that work-related deaths in Saudi Arabia have dropped to less than one per 100,000 workers since the council’s establishment.
Meanwhile, the number of locals in occupational safety and health roles has risen by 130 percent, reaching more than 29,000 by the end of 2024, compared with 2022.
Al-Rajhi also highlighted improvements in safety compliance and automation. “The compliance rate with safety standards reached 72 percent by the end of 2024, and the automation of safety procedures exceeded 62 percent, up from 30 percent in 2020.”
The conference draws high-ranking officials, experts and specialists from Saudi Arabia and worldwide to discuss the future of occupational safety and health, as well as the challenges and opportunities in global labor markets.
It covers six key themes: workplace sustainability; digitization and technology in occupational safety; the economics of safety; the future of research and innovation; emerging challenges; and human behavior and safety culture.
This focus reflects Saudi Arabia’s commitment to improving work environments and achieving professional standards in line with global best practices, a key goal of Saudi Vision 2030.
The event highlights national efforts, displays modern technical trends, supports specialized research, and promotes the Kingdom’s legislative framework to international standards, contributing to the success of major national projects.
Al-Rajhi referred to international reports on workplace challenges. “International reports highlight the serious challenges facing work environments globally. Approximately 3 million worker deaths are recorded each year due to accidents and occupational diseases.”
He said about “395 million non-fatal work injuries occur annually. Statistics show 23 million injuries and 19,000 deaths from heat stress, and 15 percent of workers globally suffer from mental disorders related to stressful work environments.”
The conference program includes specialized scientific sessions, 60 workshops, 20 dialogue sessions, and the Global Occupational Safety and Health Hackathon, where 30 innovative projects are being presented.
An accompanying exhibition features local and international organizations, with several significant agreements expected and new initiatives to advance the Kingdom’s occupational safety system.
The ministry also emphasized the Kingdom’s commitment to securing a healthy work environment and ensuring worker safety, which enhances labor market competitiveness and overall quality of life.
Al-Rajhi said: “In line with Vision 2030, we aim to make work environments safer, higher quality, and more attractive. This supports employee well-being, boosts labor market competitiveness, and fosters a culture of safety and sustainability. Therefore, the Kingdom established the National Council for Occupational Safety and Health.”
The General Organization for Social Insurance launched a directory for occupational safety and health standards at the conference, serving as a unified reference for specialists, establishments, and relevant entities in the Kingdom.
This initiative aims to enhance safety and health standards while protecting workers from occupational hazards, as part of its broader strategy.
Based on international best practices, the directory provides clear preventive standards to help reduce injuries and hazards.
It covers more than 4,500 standards in six main sectors: public industries; construction; agriculture; maritime activities; transport; and mining. It also classifies more than 70 sectors based on the national directory of economic activities.
Jeddah unveils 29 real estate projects across industrial, residential, retail sectors
RIYADH: Jeddah Municipality has announced 29 new investment opportunities across more than 1.4 million sq. meters, targeting sectors such as commercial, industrial, residential, and recreation.
Jeddah’s investment package includes 13 commercial opportunities featuring developing and operating retail shops and commercial complexes across various districts. The initiatives include the development of an integrated container city spanning 846,684 sq. meters and a second container park at 429,223 sq. meters.
This latest undertaking also follows a similar wave of investment opportunities recently launched in Riyadh, underscoring a nationwide push to diversify Saudi Arabia’s economy and enhance urban livability.
Jeddah’s additional projects feature a 145,472-sq.-meter barley milling and packaging facility, eight worker residential compounds, and eight public parks equipped with kindergartens and retail outlets.
A food truck zone under the municipal incubator program in South Obhur has also been introduced. In the education sector, a health college project has been announced.
The strategically distributed initiatives aim to meet neighborhood needs while ensuring synergy between activities.
The municipality has invited investors to submit proposals through the Furas Saudi investment portal. It noted that the bid submissions will be accepted from May 1 until July 8, as per the scheduled timeline. The Furas portal streamlines investor access, reflecting a unified approach to municipal investments.
This undertaking underscores Jeddah’s commitment to economic growth and urban development in alignment with national objectives.
Riyadh’s 2025 investment portfolio — spanning commercial, industrial, and leisure projects — mirrors the Kingdom’s strategic focus on private-sector-driven development under Vision 2030.
In March, the Riyadh Municipality unveiled 20 new investment prospects across 175,000 sq. meters, including mixed-use spaces, retail hubs, and industrial zones, with contracts ranging from five to 25 years.
Key districts like Jarir, Al-Rawdah, and Al-Qadisiyah are prioritized to ensure balanced growth. Complementing these efforts, the city has expanded its green infrastructure, adding 87 parks since 2022 to reach over 745,000 sq. meters of green space — transforming them into multifunctional community venues.
These parallel initiatives highlight Saudi cities’ commitment to sustainable urbanization, economic diversification, and elevated quality of life, cementing the Kingdom’s position as a regional leader in transformative urban development.
Mango and Tropical Fruits Festival to start this week in Jazan
- Region’s oldest agricultural festival is organized by the local branch of MEWA in cooperation with Sabya
- Over the past 20 years, the festival has made significant contributions to increasing interest in the cultivation and expansion of mangoes and tropical fruits
RIYADH: Jazan is set to open its 21st annual Mango and Tropical Fruits Festival next Wednesday at Sabya Front where farmers will showcase more than 60 varieties of mangoes native to the region and other tropical fruits.
Mohammed Al-Atif, director general of the Ministry of Environment, Water, and Agriculture’s Jazan branch, said that the festival is an ideal annual opportunity for farmers and entrepreneurs to market their crops and products and expand their marketing base.
He pointed out that the region is home to more than 3.36 million trees of the six most popular tropical fruits: mango, fig, banana, guava, papaya and custard apple. From this the area produces of 123,311 tons of fruit annually, SPA reported.
The region’s oldest agricultural festival, which began in May 2005, the Mango and Tropical Fruits Festival is organized by the local branch of MEWA in cooperation with Sabya, a subdivision of the Jazan region, and other partners.
Al-Atif described the festival as one of the drivers that has helped develop the cultivation of mangoes and tropical fruits, leading to an increase in the number of farmers, farms, trees, and production quantities.
Over the past 20 years, the festival has made significant contributions to increasing interest in the cultivation and expansion of mangoes and tropical fruits, investing in farmers’ efforts, and translating government plans aimed at boosting social and economic development.
The cultivation of mangoes and tropical fruits in Jazan has made notable progress, according to the National Center for Research and Development of Sustainable Agriculture, known as Estidamah. More than 70 varieties of mangoes and tropical fruits — including guava, papaya, pineapple, and banana — have been cultivated and evaluated in the center’s research fields.
Dr. Khalid Al-Rohily, the acting director general of Estidamah, said: “We believe in the importance of research and development in strengthening the agricultural sector, especially in the cultivation of mangoes and tropical fruits, which represent a major economic asset for the Jazan region.
“We are committed to supporting farmers by transferring knowledge and modern technologies, enabling them to improve productivity and enhance economic growth for beneficiaries.”
The center’s farm fields span over 40 hectares, where they conduct experiments to improve production quality and, later, transfer research results.
These initiatives are part of the center’s vision to support farmers and promote the use of modern agricultural technologies and practices, contributing to sustainable development in the agricultural sector.
These efforts are expected to boost productivity and improve farmers’ incomes, further strengthening Jazan’s position as a leading agricultural hub in the Kingdom.
