
Saudi Arabia signs agreement with Societe Generale to join primary dealers in gov't debt, statement says
Societe Generale joins BNP Paribas, Citi Group, Goldman Sachs, Standard Chartered and J.P. Morgan as the kingdom's sixth international bank primary dealers in government debt, NDMC added in a statement. (Reporting by Enas Alashray and Hatem Maher in Cairo; Editing by Daniel Wallis)
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The National
4 hours ago
- The National
US could require bonds of up to $15,000 for some tourist visas under pilot scheme
The US could require bonds of up to $15,000 for some tourist and business visas under a pilot programme being launched in two weeks, a government notice said on Monday. The programme is aimed to crack down on visitors who overstay their visas. The move may make an already expensive process unaffordable for many. 'Aliens applying for visas as temporary visitors for business or pleasure and who are nationals of countries identified by the department as having high visa overstay rates, where screening and vetting information is deemed deficient, or offering citizenship by investment, if the alien obtained citizenship with no residency requirement, may be subject to the pilot programme,' said a preview of a notice to be posted in the Federal Register on Tuesday. It was not clear what countries would be affected but the notice said the list would be made public when the programme takes effect. The bond would not apply to citizens of countries enrolled in the Visa Waiver Programme, which enables travel for business or tourism for up to 90 days. The State Department said that under the 12-month pilot programme, people could be required to post bonds of $5,000, $10,000 or $15,000 when they apply for a visa. The funds will be returned to travellers if they depart within the terms of their visas, the notice said. It said the pilot programme is aimed at ensuring the US government does not become financially liable if a visitor fails to comply with the terms of their visa. President Donald Trump has made cracking down on illegal immigration a focus of his presidency, boosting resources to secure the border and arresting people who are illegally in the US. Last week, the State Department announced that many visa renewal applicants would have to submit to an in-person interview, something that was not required in the past. And the administration issued a travel ban in June that fully or partly blocks citizens of 19 nations from entering the US on national security grounds. While the notice singles out countries offering citizenship through investment, the administration introduced the Trump Gold Card in recent months, which provides a path to residency and citizenship if a person commits to investing at least $5 million in the US. A similar pilot programme was launched in November 2020 during the last months of Mr Trump's first term in office, but it was not fully implemented due to the drop in global travel associated with the pandemic. It also comes as the Trump administration continues to revoke the visas of international students who have Taken part in pro-Palestine activism, and as the US says it will screen applicants' social media presence for anti-Semitic content.


The National
6 hours ago
- The National
Jordan has slump in visitors to Petra during Gaza war
Jordan has had a sharp drop in visitors to its ancient city of Petra and other sites since war broke out in Gaza almost two years ago, it was revealed on Monday. Figures released by the Petra Development and Tourism Region Authority show visitors dropping from almost 1.2 million in 2023 to fewer than 460,000 last year – a decrease of about 61 per cent. "We feel the repercussions of the aggression on Gaza every day, especially for providers of tourism services," Abdul Razzaq Arabiyat, the director of the national tourism board, told TV channel Al Mamlaka. Mr Arabiyat said tourism from Europe and North America has hit a record low, dealing a devastating blow to the hotel industry and tour operators around Petra, in Jordan's south. According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and almost 700 people have lost their jobs. Although Jordan does not share a border with Gaza, it is among many countries across the Middle East affected by the war between Israel and Hamas. The kingdom has worked with the UAE to fly food into Gaza and sought to use its diplomatic influence to bring about a ceasefire. Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a Unesco world heritage site. The Jordanian economy relies on revenues from the kingdom's tourism sector, which accounts for 14 per cent of gross domestic product. Jordan's tourism board had hoped to keep numbers steady from a pre-war figure of 5.4 million visitors a year across the country. Mr Arabiyat told The National in May 2024 that "we need to at least maintain this number this year, and we hope it will not decrease". Last August, it was revealed that Middle East plane tickets issued in a 10-day period during the height of summer were seven per cent down year on year, with Jordan and Lebanon suffering the biggest drops.


The National
7 hours ago
- The National
New four-lane tunnel opens in Dubai to ease traffic
An 800-metre tunnel with four lanes in each direction has opened in Dubai as part of a project to ease traffic flow in the city. The tunnel extends from the junction with Al Khail Road to the intersection with Sheikh Mohammed bin Zayed Road as part of the Umm Suqeim Street development project. The project is part of plans by Dubai's Roads and Transport Authority (RTA) to ease the flow of traffic and improve the road infrastructure in the emirate. 'The Umm Suqeim Street development project extends from the intersection with Al Khail Road to the intersection with Sheikh Mohamed bin Zayed Road, covering a distance of 4.6km," said Mattar Al Tayer, RTA director general, on Sunday. "The works included upgrading the intersection of Umm Suqeim Street with Al Barsha South Street, near Kings' School, where an 800-metre-long underpass with four lanes in each direction was constructed, in addition to a signalised surface-level intersection. "This development is considered one of the most important strategic projects for developing transverse east-west roads to enhance connectivity with vertical north-south roads. The completion of the project complements RTA's efforts to upgrade this corridor." The tunnel is part of plans to develop the Umm Suqeim-Al Qudra corridor, which extends from the intersection with Jumeirah Street to the junction with Emirates Road, spanning a total of 16km.