Saudi businesses wary of Chinese coronavirus spread

The value of Saudi-Chinese commercial exchanges exceedes $65 billion, says expert. (Photo/Shutterstock)
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Updated 28 January 2020
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Saudi businesses wary of Chinese coronavirus spread

  • Mixed reaction expressed over Beijing’s handling of the situation

MAKKAH: Saudi businesses have given mixed responses over the possibility of a decrease in trade between Saudi Arabia and China due to the recent coronavirus outbreak.

Some are worried for the future, others are blaming media scaremongering for overblowing the scale of the epidemic, and some say Beijing’s handling of the situation, with health care infrastructure already in place, will head off the spread of the condition.
“What is currently happening is an unjustified media amplification aimed at harming the pillars of China’s economy in favor of other economies,” said businessman Khalid Al-Shulail, an investor in production chains, medium-sized industries and construction materials.
“The health crisis is centered in the Chinese city of Wuhan. The impact could be limited to an increase in transport and shipping prices,” he said.
“All that is happening is the revival of old scenarios that happened with the SARS and swine flu epidemics. These are economic conflicts aimed at disrupting the growth of the Chinese economy as there are competing economies greatly benefitting from this situation,” he added.
However, Mohamed Fadl Al-Rahman, owner of Al-Hijaz Opticals chain, stated that the prolonging of the situation would damage his business.
“The primary impact started to become clear as businessmen stopped traveling to China and were unable to follow up on the updates of their fields,” he told Arab News, adding that accelerating infection rates now threatened the movement of goods because employees in many Chinese cities were staying at home.
“I have canceled a flight in early February due to health concerns and warnings I have received from my friends,” Al-Rahman said, noting that he would suffer significant losses if the situation persisted.
Abdulrahman Al-Maliki, a ceramics, porcelain and sanitary materials importer, said that he was waiting for goods to arrive, expressing his concern at the epidemic’s spread to other major Chinese cities.
“I fear that trade exchanges will stop, become longer or more complicated. We have all these obstacles in mind and their impact will be significant. We might resort to acquiring our needs from other markets, but not before suffering losses worth millions of riyals,” said Al-Maliki. China, he added, was the largest supplier of goods to the world, saying the value of Saudi-Chinese commercial exchanges exceeded $65 billion.
Abdulrahim Al-Andijani, owner of Beit Al-Arous shops, was bullish about the future of Saudi-Chinese trade.

 


Saudi, Japanese firms to release new game in MENA

Updated 4 sec ago
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Saudi, Japanese firms to release new game in MENA

  • The action game will immerse players in legendary battles and strategic combat

Riyadh: Manga Productions, a subsidiary of the Misk Foundation, has signed a publishing and distribution agreement with Koei Tecmo to release Dynasty Warriors: Origins in the Middle East and North Africa, scheduled for Jan. 17, 2025.

The game will be available on PlayStation 5, Xbox Series X|S, and PC, according to a press release.

Manga Productions will collaborate with Koei Tecmo to localize the game for MENA audiences, involving Saudi talents in the process, in addition to handling its publishing and marketing.

The action game will immerse players in legendary battles and strategic combat, set in the iconic Three Kingdoms world of ancient China, appealing to both new and returning fans of the series.

Manga Productions CEO Essam Bukhary said: “Saudi Arabia and the MENA region are among the fastest-growing game markets globally. Manga Productions has successfully produced, distributed, and licensed content in recent years. We’re excited to partner with Koei Tecmo to publish this AAA game and invest in Saudi talent to further develop the gaming and creative industries in the region.”

Koei Tecmo President and Chief Operating Officer Hisashi Koinuma said that this partnership with Manga Productions goes beyond publishing to deliver a fully localized version tailored for regional gaming enthusiasts.

Abdulaziz Alnaghmoosh, business development and content licensing director at Manga Productions, said that video games are a core part of the company’s business. This collaboration offers a unique opportunity to expand into the MENA region, benefiting both parties, he added.


Matcha lovers, anime fans flock to Japan Festival in Riyadh

Updated 25 November 2024
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Matcha lovers, anime fans flock to Japan Festival in Riyadh

  • Festival celebrates Japanese technology and products
  • Major car brands demonstrate new models

RIYADH: Thousands of people flocked to the Japan Festival held recently in Riyadh, which attracted businesspeople, matcha tea lovers, anime fans, and car enthusiasts alike.

Organized jointly by the Embassy of Japan, the Japan External Trade Organization, and the Japanese Society in Riyadh, the festival was held at the Saudi capital’s Cultural Palace and hosted around 8,000 visitors over two days.

A JETRO spokesperson told Arab News that more than a few Japanese have been keeping a close eye on Saudi Arabia’s future potential.

“For Japan, Saudi Arabia has been one of the most important trade partners due to two reasons. One is that Saudi Arabia has been the biggest exporter of crude oil to Japan and the other (is that) Saudi Arabia highly evaluates Japanese technologies, in particular transportation equipment,” the spokesperson said.

On Japan-Saudi exports, the JETRO spokesperson noted that Japanese exports to Saudi Arabia totaled $6.36 billion in 2023, up 25.2 percent from the previous year.

Of that total, transportation equipment accounted for 70.2 percent of total exports. Automobiles grew 31.3 percent to $4.25 billion, with passenger cars and buses/trucks growing 32.8 percent and 24.2 percent respectively.

Imports declined $34.78 billion, down 19.2 percent from the previous year. Crude oil and crude oil imports, which account for 95.7 percent of total imports, declined 17.9 percent to $33.3 billion due to lower crude oil prices and production cuts. In 2023, oil imports from Saudi Arabia accounted for 40.4 percent of Japan’s total.

Major car brands like Mitsubishi and Toyota were on display at the event, as well as several technology, beauty, art and recreational brands.

Trading house Itochu, and Kumon, the children’s educational network, were some of the big name brands participating in the event.

Stage performances showcased a number of Japanese cultural offerings including a drum performance by the students of the Japanese School in Riyadh, a martial arts demonstration, a tea ceremony, umbrella juggling, live painting, and performances of popular traditional and anime songs.

Guests were able to learn about Japanese tourism, play with traditional toys, learn origami, and try on a Japanese kimono or yukata.

Visitors were also educated on Japanese tourism, and enjoyed traditional Japanese toys, calligraphy and craft workshops.

In the booth area, Japanese industrial products with cutting-edge technology and Japanese cars from major brands were displayed.


Camel organization welcomes Saudi HQ approval

Updated 25 November 2024
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Camel organization welcomes Saudi HQ approval

RIYADH: The International Camel Organization welcomed the Saudi Cabinet’s decision to approve a headquarters agreement between the Kingdom’s government and the organization.

The decision reflects Saudi Arabia’s ongoing support for the camel sector and its efforts to elevate its role internationally, the Saudi Press Agency reported.

Fahd bin Falah bin Hathleen, chairman of the camel organization, expressed his gratitude for the Cabinet’s decision.

He said: “The organization has worked over the years to develop strategies and policies to promote the global camel economy. These efforts aim to advance rural and desert communities, preserve heritage and culture, foster scientific research, and encourage camel-related sports that attract global interest.

“Additionally, we have organized international events, expanded partnerships with global organizations, and prioritized camel welfare, health, and regulations governing their movement.”

Bin Hathleen said that the Saudi Cabinet’s decision underscores the government’s commitment, under King Salman’s leadership, to strengthening the organization’s role and enhancing international cooperation in the camel sector.

He noted that the decision aligns with Saudi Vision 2030, which aims to foster sustainable development, support key sectors, and boost international collaboration to benefit camel breeders and owners locally, regionally, and globally.

This achievement also supports the Year of the Camel and the International Year of the Camelids 2024 initiatives, which are designed to highlight the untapped potential of the animals, SPA reported.

These initiatives advocate for increased investment, further research, capacity-building, and the adoption of innovative practices and technologies in the camel sector.


3rd Global Conference for Giftedness and Creativity underway in Riyadh

Updated 25 November 2024
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3rd Global Conference for Giftedness and Creativity underway in Riyadh

  • More than 300 talented individuals and local and international speakers from over 50 countries were attending the three-day conference

RIYADH: The third edition of the Global Conference for Giftedness and Creativity opened in Riyadh on Sunday, bringing together a select group of experts and talented individuals in science, technology, and innovation.

More than 300 talented individuals and local and international speakers from over 50 countries were attending the three-day conference, which was inaugurated by Prince Faisal bin Bandar bin Abdulaziz, governor of Riyadh region, the Saudi Press Agency reported.

Organized by the King Abdulaziz and His Companions Foundation for Giftedness and Creativity, also known as "Mawhiba," the conference is being held at the King Abdullah Petroleum Studies and Research Center (KAPSARC) until Tuesday.

Themed "Beyond Creative Minds," the conference aims to showcase the potential of the gifted, develop a comprehensive care system to support them, bolster integration and strategic partnerships, and enhance opportunities for global exchange and cooperation.

An exhibition and various cultural visits are being held on the conference sidelines, the SPA report said.

According to the Mawhiba site, the conference reflects the success achieved in the two previous editions, and "provides an opportunity for partners to contribute to sponsoring the journey of talented people from different countries of the world."

 

 


Saudi-European talks to strengthen cooperation in environmental fields

Updated 25 November 2024
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Saudi-European talks to strengthen cooperation in environmental fields

  • Saudi minister, EU security and political officials discuss reinforcing existing work on coping with climate change

RIYADH: Saudi Minister of State for Foreign Affairs Adel Al-Jubeir met with European officials on Sunday in Riyadh, Saudi Press Agency reported.

Al-Jubeir, who is also the Saudi climate envoy, held talks with Delphine Pronk, chair of the EU Political and Security Committee, and Luigi Di Maio, EU special representative for the Gulf region.

They discussed issues surrounding climate change and environmental cooperation between Saudi Arabia and the EU, as well as ways in which existing cooperation on tackling climate change could be strengthened. They also talked about the recent development in foreign policy in Europe and the Middle East.

Saudi Arabia maintains a strong dialogue with the EU, with both parties sharing views on several foreign policy issues, including the Saudi-led Arab Peace Initiative for the Middle East.

The EU and Saudi Arabia are also linked through trade relations, with the EU becoming the Kingdom’s second main trading partner after the volume of trade exchange between Riyadh and Brussels peaked at $80 billion in 2023.