JEDDAH: Saudi municipalities have ramped up efforts to monitor compliance with anti-COVID-19 health and safety measures.
The municipality of Jeddah carried out 9,890 inspection tours of commercial centers and facilities, identifying 94 violations. Authorities closed 68 commercial outlets for breaching protocols.
The Eastern Province municipality also carried out 9,778 inspection tours in shopping malls, commercial centers and stores. It issued penalties to 555 businesses.
The violations included noncompliance with social distancing and mask-wearing, leniency in measuring the temperature of customers, overcrowding issues, and a failure to effectively use the Tawakkalna app.
The app was launched last year to help track COVID-19 cases and has been updated to show vaccination information, including an individual’s status, such as vaccinated or infected. It now functions as a “COVID-19 passport.”
Municipalities urged all commercial facilities to abide by regulations to ensure public safety and prevent the spread of the disease. Authorities have urged members of the public to report any suspected health breaches by phoning the 940 call center number or by contacting authorities through the Balady app.
COVID-19 protocol violations: 68 outlets shut in Jeddah, 555 shops fined in Eastern Province
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COVID-19 protocol violations: 68 outlets shut in Jeddah, 555 shops fined in Eastern Province
- The violations included noncompliance with social distancing and mask-wearing, leniency in measuring the temperature of customers, overcrowding issues, and a failure to effectively use the Tawakkalna app
Saudi Aramco increases February oil prices for Asia
RIYADH: Saudi Aramco has raised its crude oil prices for Asian customers in February, marking the first increase in three months, according to an official announcement made on Monday.
The official selling price for the benchmark Arab Light crude has been raised by 60 cents per barrel, following a significant drop to a four-year low in January.
For February, the price of Arab Light crude for Asian buyers has been set at $1.50 per barrel above the regional benchmark.
Other grades also saw price increases: the OSPs for Arab Extra Light and Super Light grades were raised by 60 cents per barrel and 50 cents per barrel, respectively.
Similarly, the OSP for Arab Medium crude was increased by 50 cents per barrel. However, the price for Arab Heavy crude saw a reduction of 50 cents per barrel.
For North America, Aramco has set the February OSP for Arab Light crude at $3.50 per barrel above the Argus Sour Crude Index.
These adjustments align with changes in the market structure for both the first and third month Dubai prices.
Data from Reuters shows that the spread widened by 42 cents per barrel in backwardation in December compared to the previous month.
February’s spot premiums for Middle Eastern crude grades recovered after falling to their lowest point in a year, driven by uncertainties surrounding Iranian and Russian supply chains.
In particular, some independent refiners in China turned back to Middle Eastern oil as new Western sanctions and strong demand in China pushed prices for Iranian and Russian oil to multiyear highs.
Saudi Aramco produces five grades of crude oil: Super Light, Arab Light, Arab Extra Light, Arab Medium, and Arab Heavy.
These grades are differentiated by their density: Super Light has a density greater than 40, Arab Extra Light ranges from 36 to 40, Arab Light falls between 32 and 36, Arab Medium is between 29 and 32, and Arab Heavy has a density of less than 29.
Saudi Aramco typically releases its crude OSPs around the 5th of each month, setting the pricing trend for other major producers, including Iran, Kuwait, and Iraq. These price benchmarks impact approximately 9 million barrels per day of crude oil shipments to Asia.
Saudi Aramco eyes oil refinery project in Bangladesh, ambassador reveals
- Essa Al-Duhailan highlighted the transformative potential of establishing a maritime route between Chattogram and Jeddah or Dammam
- Refinery aims to address Bangladesh’s growing demand for petroleum products
RIYADH: Saudi energy giant Aramco plans to build an oil refinery in Bangladesh, potentially transforming the sector in the Bay of Bengal, revealed the Kingdom’s Ambassador Essa Al-Duhailan.
During the launch of the report “Enhancing Saudi-Bangladesh Economic Engagement: Trends, Key Challenges and Long-Term Growth Prospects” at the Foreign Ministry in Dhaka, the ambassador emphasized Aramco’s potential investment.
Saudi Arabia, home to the largest Bangladeshi expatriate community, has increasingly engaged with Bangladesh through investment agreements and establishing a joint business council, signaling a deepening economic partnership.
The proposed refinery aims to address Bangladesh’s growing demand for petroleum products while positioning itself as a regional supplier to markets like China and India.
“We are talking about Aramco, the biggest oil company in the world. They are willing to come to Bangladesh to build a refinery here,” said Al-Duhailan, according to state-run news agency Bangladesh Sangbad Sangstha.
The ambassador highlighted the transformative potential of establishing a maritime route between Chattogram and Jeddah or Dammam, enhancing trade efficiency and connectivity, BSS reported.
“Our international company, Red Sea Gateway Terminal, is already operating the Patenga terminal and is keen to contribute to the Matarbari deep-sea port,” he added.
Reflecting on past challenges, Al-Duhailan mentioned Aramco’s previous high-profile delegations to Bangladesh from 2016-2018, which did not yield engagement. “But we will not talk about the past. We will talk about the future,” the ambassador said, calling for renewed focus on bilateral cooperation.
The event also spotlighted the broader Saudi-Bangladesh relationship. Al-Duhailan said that ACWA Power, the world’s largest renewable energy company, is exploring a $3.5 billion investment in Bangladesh.
He added that the South Asian country is a green field for investment while advocating for reforms to streamline bureaucratic processes and combat corruption.
The report detailed pathways to deepen economic ties and outlined opportunities for Bangladesh to boost exports to the Kingdom, expand imports of vital resources, and attract investment in key sectors.
Challenges such as bureaucratic inefficiencies and corruption were also addressed, with strategic recommendations for overcoming these barriers.
The ambassador emphasized the importance of combining political and economic engagement for mutual benefit. “We have unique relations… we have many success stories,” he said, urging both nations to create more collaborative achievements in trade, culture, tourism, and beyond.
The analysis, prepared by the Bangladeshi Foreign Ministry, serves as a roadmap for enhancing bilateral economic engagement, offering valuable insights for policymakers and investors from both nations. It sets the stage for a strengthened partnership poised to unlock new growth opportunities, BSS reported.
In March, Bangladesh secured a $1.4 billion financing deal with the International Islamic Trade Finance Corp., enabling it to strengthen crude oil imports from suppliers like Saudi Aramco.
The funding bolstered the South Asian nation’s energy security and alleviated pressure on its dollar reserves, underscoring Aramco’s pivotal role in Bangladesh’s energy landscape.
Bangladesh’s government, led by Nobel laureate Muhammad Yunus, has emphasized strengthening ties with Saudi Arabia as a key priority. Following his first meeting with Al-Duhailan in August, Yunus underscored the Kingdom’s role as a vital partner in addressing Bangladesh’s economic challenges.
Pakistan-China highway remains blocked as sit-in protest against power outages enters fourth day
- Enraged by power outages, enraged protesters demand government run thermal generators to resolve power crisis
- Karakorum Highway is a key land route connecting Pakistan to China via Hunza in the northern Gilgit-Baltistan region
KHAPLU, Gilgit-Baltistan: The main highway connecting Pakistan to China in the mountainous Gilgit-Baltistan (GB) region remained closed for trade and traffic on Monday for the fourth consecutive day, as demonstrators continued their sit-in protest against power outages that residents say last for almost 20 hours.
The Karakoram Highway (KKH), a vital trade route between the two countries, was obstructed by protesters on Friday at Ali Abad, a significant point in the Hunza Valley. Protesters were enraged by frequent power outages in GB. The area has witnessed a gradual increase in trade activity following an agreement between Pakistan and China to keep the Khunjerab Pass open year-round to facilitate economic exchanges.
Hamid Hussain, an engineer at the Gilgit-Baltistan Water and Power Department, last week blamed technical reasons for the power outages. He said the region heavily relied on hydropower, which often faced disruption in winter due to the freezing of rivers and lakes.
Various political parties such as the Awami Workers Party, the Pakistan Tehreek-e-Insaf (PTI), the Pakistan Muslim League-Nawaz (PML-N), members of the civil society and trade associations joined hands to stage the sit-in protest at the highway on Friday. Despite the freezing temperature, the sit-in protests have continued since then.
“All rounds of negotiations with the government have failed and we are still facing the worst kind of power crisis,” Zahoor Ilahi, a member of the core committee formed by protesters, told Arab News over the phone.
“We will not end the protest until our demands are met. Though our demands are to permanently resolve the power crisis, however, if they agree to run thermal generators to minimize power cuts, a consensus will be developed to end the protest,” he added.
GB an impoverished, mountainous part of the larger Kashmir region, is home to 127 hydel and 34 thermal stations but the region continues to suffer one of the worst power outages in the South Asian country.
Khuzaima Anwar, Hunza’s deputy commissioner, admitted the protesters’ demands were “genuine.”
“The people have been protesting for power crisis since last Friday and their demands for the long-term uplifting of power projects are genuine,” Anwar said.
He said the district administration engaged with protesters twice since Friday and acknowledged their demands.
“The issue is here that they are demanding we run thermal generators,” he said. “But the fuel cost will be very high and the government is not in a condition to face more liabilities.”
He said the government was also trying to negotiate with protesters, adding that members of the GB Assembly were also playing their role in ending the sit-in protest.
“Trucks and containers are stuck on both sides as the main KKH is blocked,” Anwar said. “However, there is another alternate route for miniature vehicles, and the law and order situation is under control.”
Imran Ali, former GB president, confirmed dozens of containers were stuck on both sides of the highway due to the sit-in protest.
“Tourists are also facing issues due to road blockades,” Ali told Arab News. “The government should come forward to resolve the issue.”
Sudan army air strike kills 10 in southern Khartoum: rescuers
- Strike targeted a market area of the capital’s Southern Belt ‘for the third time in less than a month’
- War between Sudan’s regular army and the paramilitary forces has killed tens of thousands of people
PORT SUDAN, Sudan: Ten Sudanese civilians were killed and over 30 wounded in an army air strike on southern Khartoum, volunteer rescue workers said.
The strike on Sunday targeted a market area of the capital’s Southern Belt “for the third time in less than a month,” said the local Emergency Response Room (ERR), part of a network of volunteers across the country coordinating frontline aid.
The group said those killed burned to death. The wounded, suffering from burns, were taken to the local Bashair Hospital, with five of them in a critical condition.
Since April 2023, the war between Sudan’s regular army and the paramilitary Rapid Support Forces (RSF) has killed tens of thousands of people.
In the capital alone, the violence killed 26,000 people between April 2023 and June 2024, according to a report by the London School of Hygiene and Tropical Medicine.
Khartoum has experienced some of the war’s worst violence, with entire neighborhoods emptied out and taken over by fighters.
The military, which maintains a monopoly on the skies with its jets, has not managed to wrest back control of the capital from the paramilitary.
Of the 11.5 million people currently displaced within Sudan, nearly a third have fled from the capital, according to United Nations figures.
Both the RSF and the army have been repeatedly accused of targeting civilians and indiscriminately shelling residential areas.
Saudi Arabia, BlackRock explore collaborative opportunities to advance Vision 2030 goals
RIYADH: A meeting between Saudi Arabia’s economy minister and the vice chairman of BlackRock focused on global economic developments, investment opportunities, and the Kingdom’s Vision 2030 diversification efforts.
During the talks in Riyadh on Jan. 5, Faisal Al-Ibrahim and Philipp Hildebrand discussed identifying potential collaborations to advance Saudi Arabia’s goals of reducing its dependence on oil revenues and fostering growth in key sectors such as renewable energy, technology, and tourism, according to a post on X.
In an interview with Arab News last year, BlackRock’s Managing Director, Head of Middle East Client Business, and CEO of Saudi Arabia, Yazeed Al-Mubarak, said that the global client base has shown a growing interest in gaining exposure to Middle Eastern assets.
In August, BlackRock deepened its engagement with the Kingdom by signing a memorandum of understanding with the Saudi Real Estate Refinance Co., a subsidiary of the Public Investment Fund.
The agreement, signed during an official visit to the US by Saudi Minister of Municipalities and Housing Majid Al-Hogail, will develop the country’s real estate finance sector and increase the share of businesses in the industry’s capital markets.
