Politics
The Shura Council to the Small and Medium Enterprises Bank: Develop financial solutions that reduce the cost of financing
The Shura Council held its eighth regular session of the first year of its ninth term yesterday, chaired by the Council's Speaker, Sheikh Dr
The Shura Council held its eighth regular session of the first year of the ninth term yesterday, chaired by the Council’s Chairman, Sheikh Dr. Abdullah Mohammed Ibrahim Al Sheikh.
During this session, the Shura Council issued a resolution regarding the annual report of the Small and Medium Enterprises Bank for the fiscal year 1444/1445 AH, in which it called for enabling the Small and Medium Enterprises Bank to obtain data on small and medium enterprises in coordination with the National Development Fund and relevant authorities, in order to study and develop financing products that are appropriate to the size of the targeted economic enterprises and their impact on the national economy.
In its resolution, the Council called on the Small and Medium Enterprises Bank to develop mechanisms and financial solutions that contribute to reducing the cost of financing provided by commercial banks, finance companies and digital channels for small and micro enterprises, in a manner that is commensurate with the size of the enterprise and its financial assets.
The council stressed that the bank must develop the necessary mechanisms and procedures that contribute to transferring the best global experiences within the funds invested in, and build performance indicators to measure their impact on stimulating investment in startups and small and medium enterprises in the Kingdom.
The Shura Council called on the Saudi Export-Import Bank – in coordination with relevant authorities – to follow up on the necessary procedures for launching the national export strategy.
In its resolution, the Council called on the bank to develop integrated policies for managing direct and indirect risks in order to preserve the bank's gains. The Council also stressed in its resolution that the bank should develop quality programs and products to enable Saudi exports to compete in foreign markets, especially promising sectors with added value, which would contribute positively to the balance of payments.
Digital Infrastructure
The Shura Council called on the King Fahd National Library – in coordination with relevant authorities – to develop a modern digital infrastructure that meets its needs and keeps pace with the rapid advancements in this field. In its resolution, the Council also urged the library to expedite the adoption of its new strategic plan.
The Council called on Prince Sattam bin Abdulaziz University for the academic year 1444 AH to expand its strategic partnerships in a way that contributes to consolidating its institutional identity, improving the quality of its educational and research outputs, and attracting qualified personnel who can achieve the national strategy in the fields of science, technology and innovation.
The council stressed in its resolution that the university should direct its efforts towards developing long-term investment projects that contribute to achieving its financial sustainability.
In its resolution, the council called on the university to develop specialized educational and research programs that meet the needs of the local market, while enhancing the professional and flexible skills of its graduates, in order to ensure their readiness for the labor market and increase their job opportunities.
Performance indicators of achievements
The council called on Shaqra University to review its strategic plan and link initiatives to strategic goals and performance indicators, in order to ensure clear measurement of achievements and the extent to which targets have been met.
The council called on the university to restructure its academic and research programs to align with the comparative advantages of the university and its branches, and to contribute to improving its outputs.
The council called on the university to adopt and promote quality and excellence practices to ensure the achievement of the university’s goals and programs, and to obtain full programmatic academic accreditations.
The council stressed in the same resolution that the university must develop its self-generated revenue system by developing and diversifying its investments and endowments in a way that achieves efficiency and financial sustainability.
Agreement and two memoranda of understanding
The Council approved two draft memoranda of understanding and cooperation agreements between Saudi Arabia and several sisterly and friendly nations in various fields. Specifically, the Council approved a draft memorandum of cooperation between the Saudi Authority for Intellectual Property in the Kingdom of Saudi Arabia and the Turkish Patent and Trademark Office in the Republic of Turkey in the field of intellectual property, and a draft memorandum of understanding between the Saudi Ministry of Culture and the National Council for Culture, Arts and Letters in the State of Kuwait for cooperation in the cultural field.
The Council approved a draft agreement between the Government of Saudi Arabia and the Government of the Federative Republic of Brazil in the field of exploration and use of outer space for peaceful purposes.
Politics
Britain imposes sanctions on Iranian officials over crackdown on protests
Britain announces new sanctions against 10 Iranian officials, including police and Revolutionary Guard commanders, in response to the crackdown on protesters. Learn more about the details and the implications of the decision.
In a new escalation reflecting strained diplomatic relations between London and Tehran, the British government announced a package of tough sanctions targeting 10 prominent Iranian officials, as well as security entities, in response to what the United Kingdom described as "systematic violence" perpetrated by the authorities against protesters during the recent wave of protests in the country.
Details of the penalties and those covered by them
The new blacklist included high-ranking figures in the Iranian security and political hierarchy, most notably the Interior Minister and senior police commanders. The sanctions were not limited to individuals but also extended to the Iranian Law Enforcement Forces (FRAJA), considered the main arm responsible for dealing with protests on the ground.
The sanctions also targeted members of Iran's Revolutionary Guard, a businessman linked to it, and two judges, indicating a British focus on the security, judicial, and economic systems that support repression. These sanctions include freezing the financial assets of those sanctioned within the United Kingdom, imposing a comprehensive travel ban, and preventing them from holding any administrative positions or engaging in any business activities that fall under British law.
The official British position
Commenting on these decisions, British Foreign Secretary Yvette Cooper affirmed that this step comes within the framework of the United Kingdom's commitment to holding those responsible for human rights violations accountable. Cooper praised what she described as the "remarkable courage" shown by the Iranian people in the face of the security apparatus, considering the sanctions a clear message against the "violent campaign of repression" being waged by the authorities in Tehran.
General context and international dimensions
These sanctions come at a time when Iran is facing significant internal challenges, including widespread protests demanding political and social reforms. The authorities have responded to these movements with harsh security measures, drawing widespread criticism from international human rights organizations and Western governments.
Observers believe that the British move is not an isolated incident, but rather part of a broader coordinated effort among Western countries (including the United States and the European Union) to increase Tehran's political and economic isolation. These coordinated actions aim to pressure the Iranian regime to change its behavior regarding human rights, as well as other contentious issues such as its nuclear program and its regional role.
These sanctions are expected to lead to further stagnation in bilateral relations between the two countries, as Tehran usually considers such measures to be blatant interference in its internal affairs, which may lead to reciprocal diplomatic actions and an escalation in political rhetoric between the two capitals in the coming period.
Politics
Nuclear negotiations between Iran and the United States resume in Istanbul
Crucial nuclear negotiations between Iran and the United States have begun in Istanbul, with Saudi Arabia and Egypt in attendance, amid a US military buildup and demands for concessions to end the tension.
In a diplomatic move aimed at defusing the escalating crisis in the Middle East, Iran and the United States are resuming their nuclear talks in Türkiye, amid widespread international and regional anticipation of the results of this crucial round.
Details of the meeting in Istanbul
Informed sources told Reuters that US Special Envoy Steve Wittkopf will hold a crucial meeting with Iranian Foreign Minister Abbas Araqchi in Istanbul, Turkey. This meeting comes as part of intensive efforts to revive the long-stalled diplomatic process regarding Iran's nuclear program and to find common ground that would prevent a slide into open confrontation.
A diplomatic source in the region revealed that the talks will not be limited to the American and Iranian sides, but will also include representatives from influential regional powers, most notably Saudi Arabia and Egypt. The meetings are scheduled to be held at two levels: bilaterally between Washington and Tehran, and trilaterally with the regional parties, reflecting the desire of regional states to ensure that any future agreements take their security concerns into account.
Context of tension and military mobilization
These negotiations come at a highly sensitive time, as military tensions escalate in the Gulf. The talks coincide with a significant US naval buildup near Iranian territorial waters, a clear message of pressure from Washington. Meanwhile, Tehran faces unprecedented internal challenges, with the country experiencing what has been described as its most violent internal unrest since the 1979 revolution, further complicating the Iranian negotiating position.
US President Donald Trump insists that Iran must make substantial concessions regarding its nuclear program and regional activities, backing this demand with the deployment of a naval fleet to Iranian waters as a maximum pressure tactic. For his part, Ali Larijani, Secretary of Iran's Supreme National Security Council, confirmed that arrangements are underway for these negotiations, indicating Tehran's willingness to explore available diplomatic options.
Background of the crisis and the importance of negotiations
To understand the depth of these talks, one must consider the historical background of the nuclear issue. Since the United States withdrew from the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, in 2018, economic sanctions and a policy of "maximum pressure" have intensified, prompting Iran to gradually reduce its compliance with its nuclear commitments and increase its uranium enrichment levels. This situation has led to persistent instability in the region, punctuated by security incidents targeting maritime navigation and energy facilities.
This round of negotiations is of exceptional importance given its expected impact locally, regionally and internationally:
- On a regional level: The presence of Saudi Arabia and Egypt represents a qualitative development, as the countries of the region seek to ensure the security of navigation in vital waterways and prevent a nuclear arms race in the Middle East.
- On the international level: Global energy markets are closely monitoring these talks, as any easing of tensions would have a positive impact on the stability of oil prices and global supply chains.
- On the domestic front: Any diplomatic breakthrough could help alleviate the economic sanctions that are burdening the Iranian economy and fueling internal unrest.
All eyes remain on Istanbul to see if last-minute diplomacy will succeed in sparing the region the horrors of a potential military conflict and establishing a new phase of security and political stability.
Politics
Saudi Arabia offers condolences to Congo for the victims of the Rubaya mine collapse
The Kingdom expresses its solidarity with the Democratic Republic of Congo and offers condolences for the victims of the Rubaya mine collapse, which left more than 226 dead, affirming its support for the Congolese people.
The Kingdom of Saudi Arabia expressed its sincere condolences and heartfelt sympathy to the Democratic Republic of Congo, its leadership, government and people, for the tragic incident of the collapse of a mining mine in the city of Rubaya, located in the east of the country, which resulted in hundreds of victims and injuries in a humanitarian disaster that shook local and international circles.
In its official statement, the Kingdom affirmed its full support and solidarity with the Democratic Republic of Congo in this painful tragedy, expressing its hope that this ordeal will be overcome, and wishing safety and security for the friendly Congolese people, and mercy for the victims, whose number exceeded 226 workers, in a heavy toll that reflects the magnitude of the disaster that befell the region.
Details of the disaster and the mining context in Congo
This incident once again highlights the numerous risks facing the mining sector in the Democratic Republic of Congo, particularly in the mineral-rich eastern regions. Rubaya is a vital center for the extraction of strategic minerals such as coltan and manganese, but mining operations are often carried out using traditional (artisanal) methods that lack even the most basic occupational safety standards, leaving workers vulnerable to frequent landslides, especially during the rainy season when the soil becomes increasingly fragile.
Human and economic dimensions
Mine accidents in the Democratic Republic of Congo are a chronic challenge for the country, where a large part of the local economy and population depends on artisanal mining as a primary source of livelihood, despite the high risks. Observers point to the high number of casualties in the Rubaya accident as being due to severe overcrowding at the excavation sites and the poor infrastructure of the tunnels, which turned the site into a death trap immediately after the collapse.
The Kingdom's diplomatic and humanitarian role
The statement of condolence and solidarity issued by the Kingdom of Saudi Arabia reflects its unwavering commitment to the principles of human fraternity and proactive diplomacy during times of crisis. The Kingdom consistently strives to extend bridges of communication and support to sisterly and friendly nations facing natural disasters and humanitarian crises, thereby reaffirming its leading role in strengthening international solidarity and bolstering the psychological and moral well-being of affected populations.
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