DAVOS, Switzerland: Saudi Arabia's finance minister said on Wednesday the kingdom is changing the way it provides assistance to allies, shifting from previously giving direct grants and deposits unconditionally.
The kingdom, the world's top oil exporter and an Arab powerhouse, was encouraging countries in the region to enact economic reforms, Mohammed al-Jadaan said at the World Economic Forum in Davos.
"We used to give direct grants and deposits without strings attached and we are changing that. We are working with multilateral institutions to actually say we need to see reforms," the minister said.
"We are taxing our people, we are expecting also others to do the same, to do their efforts. We want to help but we want you also to do your part."
Saudi Arabia and other Gulf Arab states like the United Arab Emirates and Qatar have increasingly moved towards investing rather than extending direct financial aid.
Earlier this month, Saudi state media reported the kingdom could boost its investments in cash-strapped Pakistan to $10 billion, from $1 billion announced in August, as well as increase the ceiling on deposits into the Pakistan central bank to $5 billion.
In June, Saudi Arabia signed deals worth $7.7 billion with Egypt, including to build a $1.5 billion power plant, and said it intended to lead investments worth $30 billion, helping a long-standing ally that faces a weakening currency and shortage of foreign currency.
The kingdom also set up companies in Egypt, Jordan, Bahrain, Sudan, Iraq and Oman to seek up to $24 billion in investments there.
Jadaan added that Riyadh had early on seen global inflation coming and acted accordingly, helping to keep inflation in the kingdom at an average of about 2.6%.
"The likelihood of next year is that inflation will not be as high," he said.
Asked about Saudi ties with major trade partner China, Jadaan said Riyadh was taking a "wider approach" in which relations with both Beijing and Washington were important as well as building ties with other countries.
"We are looking to enhance our relationship with Europe. We are actually advancing our relationship with Latin America, with Asia," he said.
Saudi finance minister says kingdom changing no-strings aid
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Saudi finance minister says kingdom changing no-strings aid
- Kingdom encouraging countries in the region to enact economic reforms, Mohammed al-Jadaan said at WEF in Davos
- Earlier this month, Saudi state media reported kingdom could boost its investments in cash-strapped Pakistan to $10 billion
Saudi defense minister meets Swedish counterpart
- Discussions focused on bolstering cooperation between Saudi Arabia and Sweden
RIYADH: Saudi Arabia’s minister of defense, Prince Khalid bin Salman, met Johan Stuart, minister of state at the Swedish Prime Minister’s office, in Riyadh on Thursday.
They discussed ways in which relations and cooperation between their countries might be enhanced, along with other issues of mutual interest, the Saudi Press Agency reported.
Other Saudi officials present during the discussions included Lt. Gen. Fayyad Al-Ruwaili, chief of the general staff of the Kingdom’s armed forces, and Hisham bin Abdulaziz bin Saif, director general of the defense minister’s office.
The Swedish minister was accompanied by a delegation that included Bjorn Kalvakov, charge d’affaires of the Swedish Embassy in Riyadh, and Sophie Becker, deputy head of the Middle East and North Africa department at Sweden’s Ministry of Foreign Affairs.
Italian food festival highlights nation’s rich taste and culinary flavors
JEDDAH: The Italian Consulate General in Jeddah hosted on Wednesday night a unique event celebrating the richness and uniqueness of Italian products and flavors on the occasion of the ninth edition of the Week of Italian Cuisine in the World.
The event is being celebrated all over the globe from Nov. 16-22 by the Italian Ministry of Foreign Affairs and the Italian Ministry of Agriculture as part of their drive to promote the beauty and quality of Italian gastronomy.
Leonardo Costa, the Italian consul general in Jeddah, said: “We are glad to hold this Italian food street festival in the framework of the 9th Week of Italian Cuisine in the World celebrating Italian food culture. The theme for this year’s events is ‘Mediterranean Diet: Traditional Cuisine and Healthy Food,’ which is not a list of healthy food but a lifestyle.”
He added: “All the communities of the Mediterranean Sea share the same idea of hospitality and friendship. All concepts that fully applied to the great generosity and hospitality to the Saudi people and their way of conceiving food.”
Held at Al-Basateen Compound, the Italian Consulate General in Jeddah set up an elaborate street food scene around the pool area, ranging from big local Italian brands from shops, supermarkets, restaurants, cafes, and hotels in Jeddah with the attendance of guests drawn from the diplomatic corps, journalists, Italian expatriates, Saudi guests, the business community, and other selected food enthusiasts.
The festival contained multiple food stalls displayed by the sponsors and participants such as Danub, Lallo restaurant, Assila hotel, Margherita KSA, Montana water by Sharbatly, Ferrero, Loacker, and other brands, where everyone showcased different distinctive Italian delicacies.
Music was also played for the guests by DJ Ahmed Can.
Saudi businessman Mohammed Al-Zahrani — who became fascinated by Italian coffee during his visits to Catanzaro, the capital of the Calabria region in Italy, is the founder of Dell’Oro Store. He told Arab News how he turned his passion into a business.
“I am glad to be part of the ninth Week of Italian Cuisine in the World for the first time, and I am here to promote our coffee,” he added.
Spanish aerobatic pilot Castor Fantoba puts on a spectacular air display in Riyadh
- World-class pilot soars high at Sand & Fun event
RIYADH: A Spanish world-class powered aerobatic pilot on Tuesday put on a thrilling aerobatic display filled with loops, rolls, spins, dives and climbs at the Sand & Fun event at Al-Thumamah airport, Riyadh.
Organized by the Saudi General Aviation, the event runs from Nov. 19-23.
Castor Fantoba’s performance was one of 10 SkyVentures at Sand & Fun’s series of airshows.
In a sitdown interview with Arab News, Fantoba described how his passion for aviation began and what it takes to become a world-class aerobatic pilot.
As a child, Fantoba lived in the Spanish region of Navarra, where he watched small planes flying in the sky.
“Every child is looking into the blue ... Near my village there was an older field and eventually there were small planes doing tours and I was always stuck to the glass of the car, looking into the window trying to see if there was something around. I think it was that simple thing that marked my life.”
After secondary school, Fantoba developed a deeper admiration for aviation, which led to him pursuing a career as an engineer.
Fantoba graduated as an aeronautical engineer and gained his extensive flying experience in areas such as aerial advertising, skywriting, crop-dusting and water-bombing.
He then decided to take a different route and become a pilot, after working for several years in aircraft maintenance.
Today, Fantoba is an airline captain qualified to fly Boeing 737, 757 and 767s, powered aerobatics in the world-renowned Sukhoi Su-26M and is also a certified flight instructor for ultralight motorized gliders, private pilot licence training, and powered aerobatics.
To prepare for his airshows, Fantoba has a precise regimen of physical training and technical training coached by retired pilot and former member of the Soviet and Russian national aerobatic team, Nikolai Nikituk, who is widely recognized as one of the best pilots in the history of aerobatics.
“He (Nikituk) is the one who is pushing us and modeling us to arrive at that point in which we will compete and try to win.”
During airshows, pilots take turns performing and on some days the wind could work against them. In moments like those, endurance is key, a practice taught by Nikituk.
“If you control your stress, you get focused and you don’t get nervous and lose energy.”
Aerobatic pilots draw geometrical figures in the sky using a unique composition of sequences. When performing advanced aerial maneuvers, pilots can experience a range of gravitational forces.
Aerobatic pilots are trained to handle these forces by tensing their muscles to maintain blood flow to the brain and avoid blacking out.
Fantoba said dealing with negative Gz force, when pushing a plane over into a dive, took him 10 years of practice to perfect it.
“After 10 years of training, (previously) I was not able to get the good rotation or transition, but this year I got it so this for me is the most satisfying.”
To avoid problems in equilibrium, prevent dizziness and fade-out, Fantoba said a lot mental focus, physical conditioning, and training are required.
“You need to do exactly what you are told to do in a sequence. A sequence is composed of about 14 figures that are very complex with rotations in all directions.”
Fantoba spoke of an experience when he blacked out during a positive Gz flight. “I remember I was beginning a training camp and I was really relaxed during the beginning of the season ... I was not pushing my body … I remember I was going up and then a voice was calling me ‘Castor, do you hear me?’ (on the radio) and I saw all blue and suddenly realized I was flying.”
Pilots begin with 10 points and lose 1 point per 5 degrees of deviation, so precision is vital to a successful airshow. Pilots usually score an average five points, but Fantoba’s attention to detail allowed him to score 8.3 points in the previous World Championship.
Fantoba encourages individuals to try flying. “With normal health, you can fly ... you have fantastic aircraft here in Saudi Arabia … call them (organizations) and ask them ‘how can I become a pilot?’ It’s easy and you will discover an absolute new world.”
“Aerobatics and generally all air sports, it does not matter if you are a man or woman, it’s based on skill … in aerobatics we do not have separation.”
Fantoba has numerous achievements to his credit.
He was a runner-up in the 2022 World Team Championship, runner-up in freestyle at the 2019 World Championship; three bronze medals at the 2017 World Cup; double bronze medal in the 2015 World Cup, bronze medal in Classic and Freestyle in the 2016 European Championship, Absolute European Champion 2014, and nine times Absolute Spanish Champion.
He has been officially recognized as a high level athlete by the Higher Sports Council since 2005. He has bagged more than 50 medals in his sporting career, six medals in a single top-category competition (European Aerobatic Championships 2014). He has won 30 FAI (world governing body for air sports) medals, including six golds.
Man arrested for transporting nine border security violators in Jazan
JAZAN: Authorities in Jazan arrested a citizen for transporting nine border security violators of Yemeni and Ethiopian nationalities. Legal procedures were carried out, and the violators were handed over to the authorities before being transferred to the Public Prosecution.
Authorities have warned that anyone who facilitates the entry of border security violators into the Kingdom, transports them, provides them with shelter, or offers any form of assistance or service, will face severe penalties. These include imprisonment of up to 15 years, fines of up to SR1 million ($266,318), confiscation of any vehicles or properties used in the offense, and public defamation.
Meanwhile, while enforcing environmental regulations in the King Abdulaziz Royal Reserve, field patrols of the Special Forces for Environmental Security arrested a man for illegal hunting in a prohibited area. He was found with an air rifle and three trapped wild animals. Legal measures were taken, and he was referred to the authorities for further action.
Ehsan charity empowers non-profit organizations
RIYADH: Workshops arranged by Ehsan, the national platform for charitable work, are helping empower non-profit organizations.
The initiative will ensure leaders keep pace with the governance of charitable work, with sessions aimed at developing methods to plan and implement projects.
The events are part of Ehsan’s efforts to increase the knowledge and develop the work of its non-governmental partner organizations. They align with its vision of maximizing the impact of projects, developing technical solutions, strengthening partnerships and empowering the non-profit sector.
The first workshops were launched in the Hail, Al-Jouf, Central and Asir regions, and Jeddah Governorate. More than 500 non-governmental organizations took part.
