Coalition hosts anti-terror finance training in Comoros
The course aims to equip participants with information on national and international legal frameworks related to these issues, the Saudi Press Agency reported on Tuesday.
It focuses on skills to analyze financial data and detect suspicious activities, raise public awareness of related risks, and develop effective prevention and coordination mechanisms among regulatory, security, and financial authorities.
Participants include representatives from regulatory and judicial bodies, the Ministry of Interior, law enforcement agencies, financial institutions, non-financial businesses, and non-profit organizations.
The course reflects the coalition's commitment to enhance international cooperation and develop national civil and military competencies to combat these crimes.
It also aims to create a professional training environment that fosters integrated and effective systems to combat financial threats linked to terrorism.
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Arab News
12 minutes ago
- Arab News
Saudi cement sales jump 21% in Q2 as mega-projects fuel demand
RIYADH: Saudi Arabia's cement sector registered a sharp upswing in the second quarter of 2025, with total sales by the Kingdom's 17 producers reaching 13.13 million tonnes. According to figures by Al-Yamama Cement, this marks a 21 percent increase compared to the same period last year. The rise was driven almost entirely by local demand, which accounted for 97 percent of all dispatches and increased by 23 percent year on year. In contrast, export volumes decreased by 16 percent, accounting for only 3 percent of total cement sales during the quarter. Amr Nader, cement expert and CEO at A³&Co., told Arab News: 'Key drivers based on our market analysis are, first, the mega projects activation: progress in Neom, ROSHN, Diriyah, and The Line translated into large batch cement drawdowns, particularly in Tabuk, Riyadh, and Eastern regions.' According to Nader, another factor was seasonal acceleration. With both Ramadan and the Hajj season falling in the second quarter, periods when construction activity typically slows due to reduced working hours and labor availability, contractors advanced cement purchases. This pre-holiday push to meet project milestones and complete concrete pours before the slowdown triggered a temporary spike in local cement sales early in the quarter. An inventory depletion strategy is another reason. 'Some companies pushed domestic sales aggressively to clear stock before summer fuel adjustments,' added Nader. Saudi Arabia has been accelerating its Vision 2030 agenda, channeling significant resources into mega-projects and infrastructure developments aimed at diversifying the economy. This spending drive has been evident in recent budget reports, where planned increases in government expenditures have contributed to calculated fiscal deficits. According to the International Monetary Fund, these deficits are part of a deliberate strategy to complete priority projects while maintaining fiscal stability. Public debt-to-gross domestic product remains within low-risk sovereign thresholds by global standards, supported by ample fiscal buffers and prudent debt management under the Fiscal Sustainability Program. Company-level performance At the company level, Al Yamama Cement led the market in the second quarter with 1.93 million tonnes sold locally, capturing a 15.2 percent market share. It was followed by Saudi Cement with 1.36 million tonnes, Qassim Cement with 1.14 million tonnes, and Yanbu Cement with 1.00 million tonnes. While local sales soared, exports were comparatively weak. Saudi Cement remained the top exporter with 376,000 tonnes sold abroad, followed by Najran Cement at 50,000 tonnes and Eastern Province Cement at just 5,000 tonnes. Nader said increased competition in target markets was a major factor behind the decline in cement exports. 'East Africa and Yemen have seen rising local production, such as capacity expansions in Kenya and the reactivation of plants in Ethiopia, alongside aggressive pricing from Turkiye and Iran,' he said. Other factors, according to the expert, included export quotas and licensing requirements, with several producers choosing to focus on clinker shipments due to their higher margins and simpler logistics. Freight disruptions also played a role, as Red Sea security risks forced vessel rerouting, increasing lead times and shipping costs to East Africa and Yemen. This had a greater impact on bagged cement than on bulk clinker. Additionally, customs and standardization delays in markets such as Sudan, Ethiopia, and Somalia contributed to shipment hold-ups and, in some cases, outright cancelations. Clinker production and sales Clinker production, the precursor to cement, also rose significantly during the quarter. Total clinker output reached 14.80 million tonnes according to figures by Al-Yamama Cement, reflecting a 12.6 percent year-on-year increase. Saudi Cement was the leading producer with approximately 2.15 million tonnes. As kiln utilization increased to meet rising demand, producers also built up strategic inventories. Clinker stockpiles climbed 2.85 percent from a year earlier, totaling 134.05 million tonnes by the end of June. Southern Province Cement held the largest inventory, with 20.15 million tonnes in stock. Clinker exports outpaced cement shipments during the period. Saudi firms exported 1.63 million tonnes of clinker in the second quarter, marking a 39 percent annual increase. The surge in clinker exports from Saudi Arabia in the second quarter was driven by a combination of market and operational factors. According to Nader, higher global free-on-board prices, particularly in Asia and East Africa, made exports more lucrative than domestic cement sales. Shipping advantages also played a role, as Red Sea constraints proved less problematic for bulk clinker vessels, especially via Yanbu and Jeddah ports. With an estimated 35–38 million tonnes of surplus clinker, producers maximized exports to manage inventories and avoid seasonal plant stoppages, while some benefited from foreign exchange gains through dollar‑denominated sales. Key destinations included Bangladesh and Kenya, along with opportunistic shipments to Benin and Ghana, and steady short‑haul supply to Yemen's grinding units. Saudi cement prices among region's lowest 'Saudi Arabia continues to enjoy some of the most affordable cement prices in the region, largely because of fuel subsidies and domestic overcapacity,' Nader said. As of August 2025, retail prices in most Saudi regions range between SR12.5 ($3.33) and SR14 per 50‑kg bag, which is approximately $67–75 per tonne, with the Eastern Region generally at the lower end due to its proximity to production plants and export hubs, Nader added. This stability has held despite stronger domestic sales and rising input costs. Regionally, prices are often higher due to different cost structures and supply dynamics. In the UAE, bags typically sell for SR14–SR16, reflecting higher energy and import costs. In Oman, the range is SR13–SR14.5. In Egypt, prices are SR10–SR11 per bag, though high inflation and currency depreciation weigh on affordability, according to Nader. In Jordan, prices reach SR15–SR16 because of limited domestic production and higher operating costs. While Saudi Arabia's prices remain competitive, the sector continues to face margin pressures from rising fuel costs and periodic price competition among producers. Nader described the situation as mixed across the industry. Average revenues for Saudi cement producers rose 15 to 20 percent year on year in the second quarter of 2025, reflecting higher domestic sales volumes and, in some cases, stronger clinker exports. However, net profits were flat or down by up to 10 percent for many companies, as gross margins contracted from 26 to 30 percent in the second quarter last year to around 22 to 25 percent this year. The squeeze on margins was driven by rising input costs, particularly fuel, explained Nader. Energy prices increased in line with ongoing regional fuel subsidy reforms, raising kiln operating costs. Several companies also increased their use of alternative fuels, but many of these systems are still in early adoption stages and have not yet delivered the full efficiency gains expected. At the same time, logistics bottlenecks, including port congestion and Red Sea freight disruptions, pushed up distribution costs. 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Arab News
12 minutes ago
- Arab News
Saudi industrial output jumps 7.9% in June on manufacturing gains
RIYADH: Saudi Arabia's industrial production climbed 7.9 percent year on year to 111.9 in June, driven by a sharp rebound in manufacturing and higher crude output, official data showed. Figures from the General Authority for Statistics also revealed a 1.6 percent month-on-month rise in the Industrial Production Index, underscoring momentum in the Kingdom's non-oil economy. The IPI, which measures changes in industrial output across mining, manufacturing, utilities, and waste management, is a key indicator for Saudi Arabia's Vision 2030 diversification drive. The June IPI figure, reflecting continued growth in the manufacturing sector, affirms Saudi Arabia's progress in its economic diversification efforts aimed at reducing its decades-long reliance on crude revenues. In its latest report, GASTAT stated: 'Preliminary results indicate a 7.9 percent increase in the IPI in June 2025 compared to the same month of the previous year, supported by the rise in mining and quarrying activity, manufacturing activity, electricity, gas, steam, and air conditioning supply activity and water supply, sewerage and waste management and remediation activities.' Mining and quarrying — which include crude oil production — increased 6 percent annually as Saudi output rose to 9.36 million barrels per day, up from 8.83 million bpd in June 2024. The authority revealed that the sub-index for manufacturing activities rose 11.1 percent year on year in June, supported by an increase in the manufacture of coke and refined petroleum products, which jumped 15.3 percent, and the production of chemicals and chemical products, which rose 18.7 percent. In May, a separate report released by GASTAT revealed that the Kingdom's gross domestic product grew 2.7 percent year on year in the first quarter, driven by strong non-oil activity. Commenting on the GDP figures, Saudi Arabia's Minister of Economy and Planning, Faisal Al-Ibrahim, who also chairs GASTAT's board, said at the time that the contribution of non-oil activities to the Kingdom's economic output reached 53.2 percent — an increase of 5.7 percent from previous estimates. The sub-index of electricity, gas, steam, and air-conditioning supply activity increased 5.6 percent in June, compared to the same month in 2024. The authority added that the sub-index of water supply, sewerage, waste management, and remediation operations increased 6.9 percent year on year in June. Overall, the index of oil activities advanced 7.7 percent year on year in June, while the index of non-oil activities rose 8.6 percent during the same period. On a monthly basis, manufacturing activity in Saudi Arabia increased 1.4 percent, supported by growth in the production of coke and refined petroleum products, which rose 1.7 percent. Compared to May, mining and quarrying activities in the Kingdom also increased 1.9 percent in June. Overall, the index of oil activities increased 1.9 percent in June from May, while non-oil activities expanded 1.1 percent during the same period. The Industrial Production Index measures changes in industrial output based on the International Standard Industrial Classification framework, covering mining, manufacturing, utilities, and waste management sectors. S&P Global data show the Kingdom's non-oil private sector remained robust in July, with its Purchasing Managers' Index at 56.3, outpacing the UAE at 52.9, Kuwait at 53.5, and Qatar at 51.4.
Argaam
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