RIYADH: Saudi Arabia’s non-oil sector of the economy is still healthy and the private sector will contine to grow, stimulated by reforms, the Saudi central bank governor said on Thursday.
Ahmed Al-Kholifey, governor of the Saudi Arabian Monetary Authority (SAMA), also said international cooperation was needed to assess the risks and impact of crypto-currencies.
“We warned the public that be careful there is no legal framework protecting you and we need really to understand more and this is what you hear in the international area when you go to meetings, they have the same feeling,” he said at an investment conference in Riyadh.
“I think it means more international efforts to assess the impact of crypto-currencies on financial stability and the financial system in general,” he said.
Separately the authority is also studying how to conduct future money market operations given the rise in debt issuance in the country.
He was speaking at an investment conference in Riyadh against a background of a surge in domestic bond issuance by the government to help fund the budget deficit.
He gave no details of what operations would be considered.
Saudi central bank chief urges caution on crypto-currencies
Saudi central bank chief urges caution on crypto-currencies
Indonesian People’s Consultative Assembly speaker visits Muslim World League
- Muzani delivered greetings from Indonesian President Prabowo Subianto and expressed appreciation for the MWL’s global efforts to promote Islam’s message of peace and tolerance
RIYADH: The speaker of the Indonesian People’s Consultative Assembly, Ahmad Muzani, led a delegation to the headquarters of the Muslim World League in Makkah.
Muzani was received by Dr. Mohammed Al-Issa, the league’s secretary-general and chairman of the Organization of Muslim Scholars.
Muzani delivered greetings from Indonesian President Prabowo Subianto and expressed appreciation for the MWL’s global efforts to promote Islam’s message of peace and tolerance.
He said that the league, through its extensive outreach and dialogue initiatives across diverse cultures and religions, effectively conveys the true essence of Islam.
King Salman receives written message from Russian President Vladimir Putin
RIYADH: Saudi Arabia’s King Salman received a written message on Thursday from Russia’s president, Vladimir Putin, about relations between Moscow and Riyadh.
Waleed Al-Khuraiji, the Saudi deputy minister of foreign affairs, accepted the message on the king’s behalf during a meeting with Sergey Kozlov, the Russian ambassador to Saudi Arabia. They discussed relations between their countries and ways in which they might be enhanced, the Saudi Press Agency reported.
Saudi Arabia denounces Israeli far-right minister’s incursion into Al-Aqsa Mosque
- Itamar Ben-Gvir’s visit and prayer at Al-Aqsa provoked ‘the feelings of Muslims worldwide’
- The Kingdom also condemns the advance by Israeli occupation forces in southern Syria
RIYADH: Saudi Arabia’s Ministry of Foreign Affairs condemned the visit by the Israeli far-right minister Itamar Ben-Gvir to the sacred Al-Aqsa Mosque compound in the Old City in occupied East Jerusalem.
The ministry said that the national security minister’s visit and prayer at the Al-Aqsa compound on Thursday morning was a clear violation and provocation of the feelings of Muslims worldwide.
Ben-Gvir has repeatedly contested the Israeli government’s longstanding ban on Jewish prayer at the Al-Aqsa compound, which has been a focal point of tensions in the Israeli-Palestinian conflict.
The Al-Aqsa compound in the Old City of Jerusalem is Islam’s holiest site after the mosques in Makkah and Madinah and is a symbol of Palestinian national identity.
The Saudi ministry on Thursday also condemned the Israeli occupation forces’ advance in southern Syria after the fall of Bashar Al-Assad’s regime in early December.
“The continuation of (Israeli) military operations in Syria is an attempt to sabotage Syria’s chances of restoring its security and stability,” the ministry said in a statement.
Saudi foreign minister takes part in GCC extraordinary meeting in Kuwait
- GCC officials reject foreign interference in Syrian affairs, call for lifting of Western sanctions
- Meeting affirms GCC’s support for Palestinian people and demands ceasefire in Gaza
RIYADH: Saudi Minister of Foreign Affairs Prince Faisal bin Farhan took part in the 46th extraordinary meeting of the Gulf Cooperation Council’s ministerial council in Kuwait on Thursday.
Ministers and officials from GCC countries discussed the latest developments in Syria, Lebanon, and Gaza.
They stressed the need to uphold Syria’s sovereignty, independence, and territorial integrity after the fall of Bashar Assad’s regime in early December.
The ministerial council rejected foreign interference in Syrian affairs and called for Western sanctions that have weakened the country’s economy to be lifted, the Saudi Press Agency reported.
They reaffirmed their support for a comprehensive transitional process that ensures civilian safety, achieves national reconciliation, and preserves state institutions.
The council condemned Israeli attacks on Syria and the plan to expand illegal settlements in the occupied Golan Heights. It also condemned Israeli strikes on Lebanon.
Officials stressed that Lebanon needs political and economic reforms to prevent it from becoming a hub for terrorism and drug smuggling, highlighting the critical role of the Lebanese security forces in addressing these issues, the SPA added.
The meeting affirmed the GCC’s support for the Palestinian people, and called for a permanent ceasefire, an end to the siege in Gaza, and the supply of humanitarian aid.
Prince Sultan bin Saad, Saudi ambassador to Kuwait, and other senior Saudi foreign officials attended the meeting.
200 students will compete to represent Saudi Arabia at top science events
- Mawhiba, Ministry of Education select students from a record 291,057 applications
RIYADH: A total of 200 students have been chosen to compete for a chance to represent the Kingdom at next year’s prestigious International Science and Engineering Fair and other international competitions.
The King Abdulaziz and His Companions Foundation for Giftedness and Creativity, or Mawhiba, and the Ministry of Education announced the qualification of the 200 students, the Saudi Press Agency reported on Thursday.
The announcement took place at the National Olympiad for Scientific Creativity, or Ibdaa, exhibition for science and engineering. The Ibdaa event is held to create a competitive and creative environment for pre-college scientific researchers.
The students were selected from among 480 participants in the recent regional exhibitions held as a part of the fourth stage of the Olympiad.
The final qualifying stage for the Olympiad will be held at the Imam Mohammad Ibn Saud Islamic University conference center in Riyadh from Feb. 2 to 6.
The Ibdaa 2025 Olympiad had a record registration of 291,057 students.
The Olympiad is an annual international contest for middle and high school students in standards and technology. It started as a local event in Korea in 2006, and became an international contest in 2014.
