BENGHAZI: A third oil storage tank was set on fire during clashes at the Libyan oil port of Ras Lanuf on Thursday, an oil engineer and a witness said.
Two storage tanks had been set alight over the past week as forces loyal to eastern-based commander Khalifa Haftar and rival factions clashed, causing extensive damage.
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Third oil storage tank at Libya's Ras Lanuf oil terminal set alight during clashes
Third oil storage tank at Libya's Ras Lanuf oil terminal set alight during clashes
Riyadh library launches cultural tourism initiative
Riyadh: The King Abdulaziz Public Library in Riyadh has launched an initiative to position Saudi Arabia as a top global destination for cultural tourism by attracting visitors worldwide to explore the library’s diverse branches, both within and outside the Kingdom.
This project aligns with the Kingdom’s Vision 2030 by strengthening national identity, fostering cultural exchange, and supporting sustainable development, the Saudi Press Agency reported.
Through its efforts, the library seeks to showcase Saudi Arabia’s rich heritage, folk arts, and traditions, while deepening citizens’ connections to their cultural roots and contributing to economic diversification.
The library’s general supervisor, Faisal bin Muammar, affirmed its commitment to advancing the Kingdom’s cultural and tourism objectives.
The library’s cultural tourism approach goes beyond traditional collections, offering access to historical and rare manuscripts, art and more.
Closing Bell: Saudi main index closes in green at 11,876
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Tuesday, as it gained 45.53 points or 0.38 percent to close at 11,875.91.
The total trading turnover of the benchmark index was SR6.09 billion ($1.62 billion) with 138 stocks advancing, while 90 declining.
The parallel market, Nomu, however, marginally slipped by 0.09 percent to 29,570.56.
The MSCI Tadawul Index gained 4.76 points to close at 1,491.83.
The best-performing stock of the day was Shatirah House Restaurant Co., also known as Burgerizzr. The company’s share price increased by 9.98 percent to SR22.26.
The share price of Fawaz Abdulaziz Alhokair Co. increased by 8.29 percent to SR14.10, while the stock price of Development Works Food Co. surged by 6.85 percent to SR131.
Conversely, the share price of Al-Baha Investment and Development Co. slipped by 9.68 percent to SR0.28.
On the parallel market, the best performer was Knowledge Tower Trading Co., whose share price surged by 9.61 percent to SR10.84.
On the announcements front, Molan Steel Co. said it signed a memorandum of understanding with Yara International Limited Co. to acquire 100 percent of Mayar International Industry.
In a Tadawul statement, the company said that the financial consideration for the transaction depends on the results of the financial evaluation and due diligence.
The company added that the transaction will be financed through Molan Steel’s cash flows and resources.
According to the statement, the acquisition will be subject to a number of regulatory approvals including relevant authorities in the Kingdom.
Molan Steel Co.’s share price increased by 2.84 percent to SR3.26.
Art Films Week sparks dialogue in Riyadh
- Visitors can enjoy the screenings in Fenaa Alawwal’s outdoor area, where kiosks provide a variety of food and refreshments
Riyadh: Film enthusiasts have gathered at Riyadh’s Fenaa Alawwal for Art Films Week, an event showcasing a selection of acclaimed documentaries and animations aimed at fostering cultural exchange and dialogue, organized under Saudi Arabia’s Museums Commission.
Running until Nov. 21, the five-day Art Films Week is presenting five films: “Nam June Paik: Moon is the Oldest TV,” “Van Gogh and Japan,” “Omar Sharif: A Nomad’s Life,” “The King and Mister Bird,” and “The Prince Voyage.”
The opening day featured “Nam June Paik: Moon is the Oldest TV” by director Amanda Kim, which chronicles Paik’s meteoric rise in the New York art scene and his vision of a future where “everybody will have his own TV channel.”
South African visitor Gavin Eckhart emphasized the film’s potential to inspire self-expression in the modern age. “Showing this documentary in this context might allow people to find their own self-expression within the modern age,” he told Arab News.
He further highlighted the artist’s innovative use of technology to break boundaries despite a restrictive upbringing.
“I have really enjoyed his expressive nature in the context of manipulating the available technology,” he said. “He was able to break boundaries and innovate despite his restrictive upbringing, doing so in the most avant-garde way.”
The documentaries were selected to align with the event’s theme by exploring art and creativity, showcasing influential artists like Nam June Paik, and highlighting the intersection of art and culture.
Visitors can enjoy the screenings in Fenaa Alawwal’s outdoor area, where kiosks provide a variety of food and refreshments.
Under Vision 2030’s Quality of Life Program, Saudi Arabia is witnessing transformative progress across various sectors, with the cultural industry playing a key role. The number of cultural facilities in the Kingdom surpassed its 2023 target of 41, reaching 45, reflecting the nation’s commitment to fostering a diverse cultural landscape.
Fenaa Alawwal is a key cultural facility in the capital Riyadh and was established by the Ministry of Culture to promote culture as a way of life.
Its landmark building first opened in 1988 and was recently placed under the custody of the Royal Commission for Riyadh City as part of Saudi Vision 2030’s National Transformation Program.
Saudi Arabia’s Tabuk targets development with over $67m investment deals
JEDDAH: Investment contracts worth SR252 million ($67.2 million) have been signed to boost Saudi Arabia’s Tabuk region, focusing on healthcare, logistics, housing, entertainment, and education to spur economic growth.
The agreements, finalized during a visit by Minister of Municipalities and Housing Majid Al-Hogail, are expected to stimulate the local economy while generating both direct and indirect employment opportunities, the Saudi Press Agency reported.
During his tour to the region, Al-Hogail held discussions with regional investors and business leaders, focusing on expanding opportunities in municipal and housing development.
The minister underscored the government’s commitment to fostering investments that align with the aspirations of Tabuk’s residents and contribute to Vision 2030’s broader economic goals.
The inspection visit included reviews of key infrastructure projects, including road upgrades, traffic system enhancements, and housing developments.
Al-Hogail emphasized the importance of ensuring high-quality services for residents and visitors, stressing that these initiatives are integral to achieving the ministry’s strategic objectives.
He also witnessed the delivery of 533 new housing units to beneficiaries of the Development Housing Program, a key initiative supporting low-income families in Saudi Arabia.
This latest distribution brings the total number of housing units delivered under the program to 2,479, highlighting the government’s commitment to addressing housing needs.
At the start of his tour, Al-Hogail met with municipal leaders and heads of municipalities to discuss progress on ongoing projects, emphasizing the need for continuous improvements in service delivery.
He also visited the Prince Fahd bin Sultan Promenade, where redesigned storefronts inspired by Tabuk’s heritage have transformed the area into a vibrant destination for locals and tourists.
Al-Hogail inaugurated a branch of the Real Estate Developer Services Center, Etmam, which streamlines government services for beneficiaries in one location. He engaged with citizens to gather feedback and suggestions for further enhancing municipal services in the region.
The visit coincided with the announcement by the Ministry of Municipalities and Housing’s investment arm, the National Housing Co., of 11 new residential projects in Khuzam, north of Riyadh. These developments, featuring over 10,000 modern-designed units, are aimed at achieving the Kingdom’s homeownership goals.
This visit is part of a series of inspections the minister is conducting across Saudi Arabia to oversee municipal and housing sector initiatives, review ongoing projects, and ensure their progress aligns with Vision 2030’s transformative goals.
Saudi cabinet highlights strengthened partnerships with France, India
- The session, chaired by King Salman in Riyadh, addressed key global and regional developments
The cabinet discussed on Tuesday the outcomes of the second Saudi-French Ministerial Committee meeting, focusing on enhancing cultural, tourism, and economic ties, particularly between AlUla and Paris.
The cabinet also praised the progress of the Saudi-Indian Strategic Partnership Council in boosting cooperation on economic and security matters.
The session, chaired by King Salman in Riyadh, addressed key global and regional developments. The Cabinet condemned Israeli actions targeting civilians in Palestine and plans to expand West Bank settlements, citing their threat to regional stability and peace efforts.
Domestically, the council commended King Salman’s support of the Riyadh Economic Forum and the success of "Cityscape Global 2024," which saw transactions surpassing 230 billion riyals and attendance exceeding 172,000 visitors.
The cabinet lauded the "Jeddah Declaration" issued at the Fourth Global Ministerial Conference on Antimicrobial Resistance, reaffirming commitments to tackle global health challenges. It also noted preparations for the Saudi Green Initiative Forum in December, which has already delivered significant achievements in renewable energy, tree planting, and wildlife resettlement.
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