Lebanon central bank signs deal with US risk management firm to combat illegal activity
The agreement is part of the central bank's efforts to come off the global financial crime watchdog FATF's 'grey list' of countries under special scrutiny.
FATF placed Lebanon on the list last October.
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Arab News
44 minutes ago
- Arab News
Closing Bell: Saudi main index closes in red at 11,213
RIYADH: Saudi Arabia's Tadawul All Share Index closed lower on Monday, falling 39.31 points, or 0.35 percent, to end the day at 11,213.59. The total trading turnover on the benchmark index reached SR4.54 billion ($1.21 billion), with 60 stocks advancing and 190 declining. The MSCI Tadawul 30 Index also retreated, shedding 5.46 points, or 0.38 percent, to close at 1,436.97. The Kingdom's parallel market Nomu declined by 80.73 points, or 0.29 percent, closing at 27,356.89. Of the listed stocks, 22 advanced while 56 retreated. The best-performing stock was Alistithmar AREIC Diversified REIT Fund, with its share price rising by 9.91 percent to SR9.43. Other top performers included Saudi Industrial Investment Group, which saw its share price rise by 4.56 percent to SR17.42, and Al Hassan Ghazi Ibrahim Shaker Co., which saw a 4.48 percent increase to SR29.40. On the downside, Emaar The Economic City posted the steepest drop of the day, falling 4.12 percent to SR13.73. Naseej International Trading Co. fell 4.03 percent to SR102.50, and MBC Group Co. dropped 3.79 percent to SR34.02. On the announcements front, Jarir Marketing Co. reported estimated net profits of SR197.2 million for the first half of 2025, marking a 15.2 percent increase from the same period last year. In a statement on Tadawul, the company attributed the estimated increase to a 4.5 percent rise in gross profit, driven by higher sales of after-sales services along with improved profit margins and an increase in other income. Jarir's shares gained 1.27 percent, closing at SR12.79. Advanced Petrochemical Co. also announced its estimated financial results for the same period. The firm's net profits were estimated to reach SR82 million, up by 95.2 percent from the same period last year. The company said that the increase was driven by an 8 percent rise in net revenues, lower propane and purchased propylene prices. Advanced Petrochemical Co. also announced the completion of construction and successful operational launch of its Propane Dehydrogenation plant, capable of producing 843,000 tonnes of propylene annually, along with two PolyPropylene plants operated by Advanced Polyolefins Industry Co. with a combined capacity of 800,000 tonnes per year. The facilities, located in Jubail Industrial City, mark a significant milestone in the company's expansion in the petrochemical sector, according to a statement. APOC, a joint venture between Advanced Global Investment Co. and SK Gas Petrochemical Pte., will begin contributing to Advanced Petrochemical Co.'s consolidated financial results starting in the third quarter of 2025. Advanced Petrochemical shares closed 0.32 percent higher at SR31.48.
Al Arabiya
an hour ago
- Al Arabiya
Saudi Arabia tops global tourism spending growth in Q1 2025: UN report
Saudi Arabia led the world in international tourism spending growth during the first quarter of 2025 and ranked third globally in tourist arrival gains, according to the latest UN World Tourism Organization (UNWTO) data. The Kingdom recorded a 102 percent surge in international visitor numbers and spending compared to the same period in 2019, significantly outpacing the global average of 3 percent and the Middle East's 44 percent. For more news on Saudi Arabia, visit our dedicated page. In its latest World Tourism Barometer, the UNWTO confirmed that Saudi Arabia placed first worldwide in tourism receipts growth and third globally in international arrivals. Regionally, the Kingdom ranked second in the Middle East for visitor growth. According to the Ministry of Tourism, foreign visitor spending in Q1 2025 reached $13.2 billion (SAR 49.4 billion) – an increase of nearly 10 percent over Q1 2024. The Kingdom's travel account surplus also rose 11.7 percent year-on-year. Saudi Minister of Tourism Ahmed al-Khateeb welcomed the results, saying they 'support the Kingdom's efforts to boost tourism as part of its Saudi Vision 2030.' The strong performance reflects the impact of Vision 2030 and the Kingdom's ambitious giga-projects – including NEOM, AlUla, the Red Sea Project, Amaala, and Sindalah – as well as streamlined visa policies and expanded tourism infrastructure, according to the Saudi Press Agency (SPA). Religious tourism continues to play a central role, with Mecca and Madinah drawing millions of pilgrims annually. Mecca alone attracted 9.4 million visitors in 2022. Meanwhile, heritage destinations like Hegra in AlUla – known for its ancient Nabatean tombs – are expanding Saudi Arabia's appeal to leisure and cultural tourists. The 'Quality of Life' Program has also contributed to this momentum, with $9.2 billion (SAR 34.6 billion) invested since 2018 in entertainment, festivals, and infrastructure improvements aimed at enhancing the visitor experience. With this upward trajectory in both receipts and arrivals, Saudi Arabia appears well on track to reach its Vision 2030 goal of 150 million annual visits and establish itself as a leading global tourism destination.
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Netanyahu Aide Faces Indictment over Gaza Leak
An aide to Israeli Prime Minister Benjamin Netanyahu faces indictment on security charges pending a hearing, Israel's attorney general has said, for allegedly leaking top secret military information during Israel's war in Gaza. Netanyahu's close adviser, Jonatan Urich, has denied any wrongdoing in the case, which legal authorities began investigating in late 2024. Netanyahu has described probes against Urich and other aides as politically motivated and on Monday said that Urich had not harmed state security. Urich's attorneys said the charges were baseless and that their client's innocence would be proven beyond doubt, reported Reuters. Attorney General Gali Baharav-Miara said in a statement late on Sunday that Urich and another aide had extracted secret information from the Israeli military and leaked it to German newspaper Bild. Their intent, she said, was to shape public opinion of Netanyahu and influence the discourse about the slaying of six Israeli hostages by their Palestinian captors in Gaza in late August 2024. The hostages' deaths sparked mass protests in Israel and outraged hostages' families, who accused Netanyahu of torpedoing ceasefire talks that had faltered in the preceding weeks for political reasons. Netanyahu vehemently denies this. He has repeatedly said that Hamas was to blame for the talks collapsing, while the group has said it was Israel's fault no deal had been reached. Four of the six slain hostages had been on the list of more than 30 captives that Hamas was set to free if a ceasefire had been reached, according to a defense official at the time. The Bild article in question was published days after the hostages were found executed in a Hamas tunnel in southern Gaza. It outlined Hamas' negotiation strategy in the indirect ceasefire talks and largely corresponded with Netanyahu's allegations against the militant group over the deadlock. Bild said after the investigation was announced that it does not comment on its sources and that its article relied on authentic documents. The newspaper did not immediately respond to a request for comment on Monday. A two-month ceasefire was reached in January this year and included the release of 38 hostages before Israel resumed attacks in Gaza. The sides are presently engaged in indirect negotiations in Doha, aimed at reaching another truce. In his statement on Monday, Netanyahu said Baharav-Miara's announcement was "appalling" and that its timing raised serious questions. Netanyahu's government has for months been seeking the dismissal of Baharav-Miara. The attorney general, appointed by the previous government, has sparred with Netanyahu's cabinet over the legality of some of its policies.
