Saudi Reef Launches Leather Craft Training for Rural Women in Al-Kharj
The program equips rural women with essential skills in local leather manufacturing to strengthen their small businesses and support the marketing and growth of their leather products, SPA reported.
Saudi Reef Assistant Secretary-General for Media and Communication Majed Al-Buraikan noted that 15 female rural entrepreneurs are participating in the training, which focuses on value-added leather industries, including techniques, innovative design, product diversification, quality control, and business management.
The program also covers business planning, cost strategies, marketing, and branding to help establish value-added ventures.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
2 hours ago
- Arab News
Production at hydroponic farm in Madinah tops 2m kg
RIYADH: A hydroponic farm in Madinah is becoming a model for sustainable crop cultivation after generating more than 2 million kg of produce. Using 20 air-conditioned agricultural halls spanning 183,000 sq. meters, the facility grows mostly lettuce, celery, rosemary, wild thyme and basil, the Saudi Press Agency reported on Monday. The farm has many environmental and economic advantages over traditional agriculture, including reducing fertilizer use by up to 60 percent and water use by as much as 90 percent. These qualities are in line with the National Water Strategy 2030 and the nation's broader drive to improve environmental sustainability. Ayman Al-Sayed, director general of the Madinah branch of the Ministry of Environment, Water and Agriculture, said that modern agricultural technologies were helping to improve production efficiency and quality while supporting food security and the National Agricultural Strategy. He highlighted the ongoing support for farmers through agricultural subsidy programs and development plans aimed at boosting the competitiveness of Saudi agricultural products on local and international markets.
Leaders
2 hours ago
- Leaders
Saudi Bank Lending Hits Record $850bn on Corporate, Real Estate Demand
Saudi banks' outstanding loans reached SR 3.2 trillion ($849.7 billion) in June 2025, representing a 15.8 percent increase compared to the same month of 2024, according to the Saudi Central Bank (SAMA). Corporate borrowing was the main driver of expansion, accounting for 76 percent of total growth. Business loans stood at SR 1.8 trillion, while loans to individuals reached SR 1.4 trillion. The retail share, however, slipped from nearly 50 percent in 2024 to about 44 percent this year. Real Estate Leads Business lending surged 22.5 percent year-on-year, with several sectors showing remarkable growth: Real estate: SR 384 billion, nearly 22 percent of corporate loans, up 39 percent YoY. Wholesale and retail trade: SR 213.1 billion (11.9 percent share), rising 8.4 percent YoY. Electricity, gas, and water supply: SR 199.3 billion (11.15 percent share). Manufacturing: SR 192.25 billion (10.8 percent share). Fastest-growing sectors included real estate and transportation/storage (39.9 percent each), health and social work (35.4 percent, SR 26.9 billion), and financial and insurance activities (34 percent, SR 167.5 billion). Vision 2030, Lending Demand The surge in credit highlights banks' central role in funding Vision 2030 projects, including: Giga-projects such as NEOM Infrastructure and transport networks Housing initiatives Healthcare and social services Real estate financing, in particular, reflects rising homeownership goals, urban expansion, and regulatory reforms improving transparency and efficiency. Digital Transformation, Fintech Growth SAMA's digitalization push has accelerated fintech adoption: Electronic payments accounted for 79 percent of retail transactions in 2024, up from 70 percent in 2023. The number of licensed fintech firms rose from 224 in mid-2024 to 261 by year-end, and further to 317 by mid-2025. Of these, 86 companies secured funding worth $4.66 billion in venture capital, according to Tracxn. The government's Financial Sector Development Program aims to expand the fintech base to 525 firms and 18,000 jobs by 2030, cementing Saudi Arabia's position as a regional hub for financial innovation. Record-Breaking Bank Profits The lending boom translated into the strongest earnings in Saudi banking history, with combined Q2 2025 profits exceeding SR 23 billion. Notable results included: Saudi National Bank: SR 6.1 billion profit (+17.3%). Al Rajhi Bank: SR 6.15 billion profit (+31%). Saudi Awwal Bank: SR 2.13 billion profit (+9.5%). Banque Saudi Fransi: SR 1.30 billion profit (+21%). Related Topics : Saudi Banks' Credit Card Loans Reach Record High of $8.07 Billion Lebanese President Aoun to Make Historic Saudi Visit to Rebuild Bilateral Ties Founding Day 2025: How Saudi Currency Developed over Time? Saudi Arabia Fuels 2025 Growth with Economic Diversification: Report Short link : Post Views: 6
Arab News
2 hours ago
- Arab News
Saudi Arabia, South Korea sign MoU to boost audit expertise
RIYADH: Saudi Arabia's General Court of Audit and South Korea's Board of Audit and Inspection signed a memorandum of understanding in Seoul on Monday to strengthen cooperation in accounting, auditing, and professional practices. The agreement was signed by Hussam Alangari, president of the GCA, and BAI chair Choe Jae-hae, with Saudi Ambassador to South Korea Sami Alsadhan in attendance. The MoU aims to exchange expertise, build professional capacities, and develop manuals for financial, compliance, and performance auditing. Joint workshops and training programs will support these goals. Alangari said the agreement reflects GCA's regional and international standing and its role in sharing expertise with member institutions. Choe emphasized that the MoU will enhance joint work, boost performance efficiency, and improve auditing quality.
