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Dhamar Security commemorates al-Wilayah, sends Eid convoy to frontlines
Dhamar Security commemorates al-Wilayah, sends Eid convoy to frontlines

Saba Yemen

time14 hours ago

  • Politics
  • Saba Yemen

Dhamar Security commemorates al-Wilayah, sends Eid convoy to frontlines

Dhamar – Saba: Dhamar Security Directorate on Sunday held an event to commemorate al-Wilayah anniversary and launch an Eid gift convoy for frontline fighters. Security Director Brigadier General Mohammed al-Mahdi praised security personnel for maintaining stability and capturing three escaped prisoners, highlighting inter-governorate cooperation. He affirmed commitment to pursuing those involved in destabilizing security. Al-Mahdi emphasized that commemorating Imam Ali's guardianship teaches sacrifice and confronting enemies, contrasting it with the nation's current humiliation due to abandoning this path. He announced the dispatch of an Eid convoy to frontline fighters in the Fourth Military Region, recognizing their sacrifices. Lieutenant Colonel Ismail al-Mutahar from Moral Guidance also spoke, underscoring the importance of sincere allegiance in Islam for confronting injustice and protecting the nation from enemy influence. Whatsapp Telegram Email Print more of (Local)

Recipe renaissance – traditional foods brighten Saudi iftar spreads with heritage
Recipe renaissance – traditional foods brighten Saudi iftar spreads with heritage

Arab News

time12-03-2025

  • Entertainment
  • Arab News

Recipe renaissance – traditional foods brighten Saudi iftar spreads with heritage

JEDDAH/RIYADH: Ramadan is helping revive traditional dishes in Saudi Arabia, as many families prepare foods distinctive to their region. Tables across the Kingdom showcase great diversity during the holy month, with families passing down culinary traditions through generations. The connection between Ramadan and these traditional dishes is rooted in customs, but their nutritional value also plays a key role. Often rich in energy-boosting ingredients such as meats and vegetables, they provide essential nutrients that replenish the body after a long day of fasting. In the Northern Borders, al-khumei'ah is a well-known dish, while the Eastern Province is famous for its harees (slow-cooked wheat and meat soup), according to the Kingdom's Culinary Arts Commission. Riyadh's signature dish is marqooq (thin dough with meat, onions, and spiced broth), whereas Qassim is known for its al-tawah pastry. In Tabuk, al-mafroukah (dough with dates, honey, and butter) is a popular choice, while Jazan is renowned for makshan fish, cooked with onions and spices. Hail offers al-baseesa (dough balls with date paste), and Asir is known for tasabee' (a flour, milk and sugar mix). Najran features al-wafd and al-maraq (dough balls), while Makkah is recognized for its red barley soup. In Madinah, sobiyah is a well-loved traditional drink made from barley or oats. Al-Baha is known for its maraqa bread, while Jouf specializes in saj bread, an unleavened flatbread. Young people are being drawn to traditional foods through social media. 'Living in this era where everyone's trying to keep up with trends and compete on 'who did it better' along with the culture of sharing photos is a big motivation. But I can't deny that nostalgia and emotional connection also play an important role,' said Maryam Al-Oufi. Loza Al-Mahdi and Eman Al-Hussaini, a mother and daughter from western Saudi Arabia, believe these dishes represent important memories. 'No matter how many new recipes we try, traditional dishes have a special place because they hold childhood memories and connect us to the past.' One staple that remains a must-have during Ramadan is maamoul, a date-filled pastry that holds deep cultural and spiritual significance. Al-Mahdi said: 'No Ramadan is complete without making maamoul. It's something that brings the whole family together.' Platforms like TikTok and X have made it easier to share and preserve traditional recipes. 'Sharing recipes on TikTok or even posting pictures of dishes on X really helps with that,' Al-Oufi explained. 'When we see cool photos and videos, it gets us excited to try those dishes again and bring back recipes that had faded away.' For many, Ramadan cooking is about familial legacy. 'Families have the choice of continuing the tradition and passing it on to future generations or just burying it,' Al-Oufi stated. Al-Mahdi emphasized the importance of hands-on learning: 'I make sure to teach my children how to cook properly, just as I learned from my mother and grandmother.' For some, certain dishes hold deep sentimental value. Al-Oufi recalls her grandmother's attention to detail: 'My grandma was very picky about food, especially when it came to the size and shape of the luqaimat. My grandma passed away, but her rules stayed with us.' Similarly, Al-Hussaini shares a dish that remains close to her heart: 'One of the most important dishes I have to make during Ramadan, and my kids love, is jaib al-tajir (merchant's pocket).' The Culinary Arts Commission has played a significant role in preserving traditional dishes by organizing a number of events and festivals that highlight Saudi heritage cuisine. It has also documented preparation methods and cultural traditions, supported entrepreneurs, and published books and videos, helping to inspire interest in traditional foods. Traditional markets and restaurants also play a major role in preserving these dishes, offering visitors the opportunity to experience authentic flavors and promoting traditional food culture across generations. The Culinary Arts Commission promotes heritage foods during Ramadan by sharing special content on social media and its website. This includes highlighting traditional Ramadan dishes, their preparation methods, historical origins, and cultural significance. By sharing this knowledge, the commission encourages the community to appreciate and preserve Saudi culinary heritage during Ramadan.

Post announces profits of Postal Savings Fund
Post announces profits of Postal Savings Fund

Saba Yemen

time27-02-2025

  • Business
  • Saba Yemen

Post announces profits of Postal Savings Fund

Sana'a (Saba) - Minister of Communications and Information Technology, Eng. Mohammed Al-Mahdi, announced the profits of the Postal Savings Fund for the year 2024 AD at 12.50 percent free of usurious interest for the fifth year in a row. Minister Al-Mahdi indicated that the profit percentage of the Postal Savings Fund for this year is distinguished through the investments made by the Authority through legitimate means. Whatsapp Telegram Email Print more of (Local)

More room for the private sector in Egypt - Egypt - Al-Ahram Weekly
More room for the private sector in Egypt - Egypt - Al-Ahram Weekly

Al-Ahram Weekly

time12-02-2025

  • Business
  • Al-Ahram Weekly

More room for the private sector in Egypt - Egypt - Al-Ahram Weekly

Al-Ahram Weekly asks experts for their views on the second assessment of moves to widen the role of the private sector in the economy. The cabinet's Information and Decision Support Centre (IDSC) has issued its second report tracking the progress of the government's implementation of the State Ownership Policy Document, which sets out ways to widen the role of the private sector in the economy, from March 2022 to June 2024. The report revealed that 288 per cent of the targeted implementation rate, with regards to the value of deals, had been achieved during this period, bolstered by the proceeds from the Ras Al-Hekma real estate deal on the North Coast, which is worth $30 billion. The State Ownership Policy Document is a long-term strategy rolled out by the government in 2022 that entails the partial or full withdrawal of the state from more than 79 industries, helping to double the private sector's share of the economy to 65 per cent. According to the report, the private sector's contribution to GDP rose from 70 to 74 per cent in the 2022-23 financial year, and its total investments reached 37 per cent in 2023-24, with a targeted increase to 47 per cent in 2024-25 and ultimately to 65 per cent. The private sector's contribution to employment increased by 81 per cent in 2023, up from 76 per cent over the past 10 years, while its share in exports increased from 91 to 93.6 per cent in the last decade. The report showed that efforts to activate trading and enhance market depth on the Egyptian Stock Exchange (EGX) had elevated market capitalisation to LE1.072 trillion, or 17 per cent of GDP, compared to 11 per cent of GDP in 2020. Alia Al-Mahdi, a professor of economics at the American University in Cairo, lauded the government's achievements outlined in the Document, noting that it supports the enhanced role of the private sector in the economy, an essential objective the state has pursued for decades to boost overall growth rates. However, she cautioned that the lack of consistency in the report's presentation, with some figures in dollars and others in Egyptian pounds, could lead to inaccurate results. She recommended unifying the monetary values, preferably in dollars, as this would offer greater ease of evaluation. For instance, the increase in the market capitalisation of the EGX should be presented within a broader context that accounts for the inflation rates that impacted the pound in 2023 and 2024, she said. It would also be valuable to reference the number of new companies listed on the EGX and the percentage of foreign investment inflows. Regarding indications that the private sector's contribution to employment has reached 81 per cent, Al-Mahdi said that it was important to consider that this percentage reflects the cumulative effect of investments over many years. It also encompasses employment in the informal sector. While the report highlights ambitious targets, such as a 10 per cent increase in the private sector's contribution to the economy within one year and reaching the final goal of 65 per cent, these figures face a set of challenges. The most prominent are high interest rates, the need for procedural reforms, the provision of industrial land, and efforts to encourage small and medium-sized enterprises (SMEs) to operate in the formal economy. Creating a conducive environment for both local and foreign investment is a complex, large-scale process that goes beyond ensuring the availability of financing, Al-Mahdi said. When considering the broader context, it is important to note that Egypt and Turkey are the only two countries in the region offering loans at high interest rates, while other countries in the region have maintained interest rates not exceeding five per cent. The interest rate on loans in Egypt is 28.25 per cent. Ali Abdel-Raouf, an economic expert, referred to the global context in the light of the new US Administration and the ongoing trade war between the US and China. He said these developments added further complexity to the challenges of implementing Egypt's objectives outlined in the State Ownership Policy Document and the broadening of the private sector's contribution to the economy. Abdel-Raouf said there was a need to assess the effects of unilateral US decisions, such as the imposition of higher customs duties and the threat of additional measures, as well as their influence on the dollar's value and inflation rates, especially after US President Donald Trump said he did not favour the decision to maintain interest rates unchanged in the US. The high interest rates on loans in Egypt inhibits the willingness of the Egyptian and foreign private sector to engage in new partnerships, acquisitions, or investments, Abdel-Raouf said. The investment climate is still in need of reforms, he said, adding that while the entry of foreign investors is facilitated, the process for these investors to exit and transfer their profits in dollars is not as easy. The fact that nearly 50 per cent of the companies in which the government has a stake are unprofitable indicates a need for a different management strategy integrated into the productive capacity of the Egyptian economy. Abdel-Raouf said that utilising this capacity or redirecting productive activity would be more feasible than seeking liquidity at high interest rates to establish new factories and companies. The data analysis, conducted by the IDSC in collaboration with the relevant state institutions, involved the creation of a comprehensive database encompassing all state-owned companies. In August 2024, this database recorded approximately 709 state-owned companies distributed across 18 sectors. The ownership of these companies is held by 33 entities, including 18 ministries, nine governorates, the Central Bank of Egypt, the Financial Supervisory Authority, the Radio and Television Union, the Unified Procurement Authority, the Upper Egypt Development Authority, and the Suez Canal Authority. Companies affiliated with the Ministry of Public Enterprise represent about 44.7 per cent of the total. The report says that out of the total 709 state-owned companies, 452 do not have clearly specified government shareholdings. The government's stake exceeds 75 per cent in 158 companies, while in 80 its shareholding is less than 25 per cent. Some 54 per cent of the companies in which the government has a stake are profitable, compared to 42.2 per cent that are incurring losses. The remaining 3.8 per cent have an unclear status regarding whether they are making profits or losses, the report said. * A version of this article appears in print in the 13 February, 2025 edition of Al-Ahram Weekly Short link:

More room for the private sector - Egypt - Al-Ahram Weekly
More room for the private sector - Egypt - Al-Ahram Weekly

Al-Ahram Weekly

time11-02-2025

  • Business
  • Al-Ahram Weekly

More room for the private sector - Egypt - Al-Ahram Weekly

The cabinet's Information and Decision Support Centre (IDSC) has issued its second report tracking the progress of the government's implementation of the State Ownership Policy Document, which sets out ways to widen the role of the private sector in the economy, from March 2022 to June 2024. The report revealed that 288 per cent of the targeted implementation rate, with regards to the value of deals, had been achieved during this period, bolstered by the proceeds from the Ras Al-Hekma real estate deal on the North Coast, which is worth $30 billion. The State Ownership Policy Document is a long-term strategy rolled out by the government in 2022 that entails the partial or full withdrawal of the state from more than 79 industries, helping to double the private sector's share of the economy to 65 per cent. According to the report, the private sector's contribution to GDP rose from 70 to 74 per cent in the 2022-23 financial year, and its total investments reached 37 per cent in 2023-24, with a targeted increase to 47 per cent in 2024-25 and ultimately to 65 per cent. The private sector's contribution to employment increased by 81 per cent in 2023, up from 76 per cent over the past 10 years, while its share in exports increased from 91 to 93.6 per cent in the last decade. The report showed that efforts to activate trading and enhance market depth on the Egyptian Stock Exchange (EGX) had elevated market capitalisation to LE1.072 trillion, or 17 per cent of GDP, compared to 11 per cent of GDP in 2020. Alia Al-Mahdi, a professor of economics at the American University in Cairo, lauded the government's achievements outlined in the Document, noting that it supports the enhanced role of the private sector in the economy, an essential objective the state has pursued for decades to boost overall growth rates. However, she cautioned that the lack of consistency in the report's presentation, with some figures in dollars and others in Egyptian pounds, could lead to inaccurate results. She recommended unifying the monetary values, preferably in dollars, as this would offer greater ease of evaluation. For instance, the increase in the market capitalisation of the EGX should be presented within a broader context that accounts for the inflation rates that impacted the pound in 2023 and 2024, she said. It would also be valuable to reference the number of new companies listed on the EGX and the percentage of foreign investment inflows. Regarding indications that the private sector's contribution to employment has reached 81 per cent, Al-Mahdi said that it was important to consider that this percentage reflects the cumulative effect of investments over many years. It also encompasses employment in the informal sector. While the report highlights ambitious targets, such as a 10 per cent increase in the private sector's contribution to the economy within one year and reaching the final goal of 65 per cent, these figures face a set of challenges. The most prominent are high interest rates, the need for procedural reforms, the provision of industrial land, and efforts to encourage small and medium-sized enterprises (SMEs) to operate in the formal economy. Creating a conducive environment for both local and foreign investment is a complex, large-scale process that goes beyond ensuring the availability of financing, Al-Mahdi said. When considering the broader context, it is important to note that Egypt and Turkey are the only two countries in the region offering loans at high interest rates, while other countries in the region have maintained interest rates not exceeding five per cent. The interest rate on loans in Egypt is 28.25 per cent. Ali Abdel-Raouf, an economic expert, referred to the global context in the light of the new US Administration and the ongoing trade war between the US and China. He said these developments added further complexity to the challenges of implementing Egypt's objectives outlined in the State Ownership Policy Document and the broadening of the private sector's contribution to the economy. Abdel-Raouf said there was a need to assess the effects of unilateral US decisions, such as the imposition of higher customs duties and the threat of additional measures, as well as their influence on the dollar's value and inflation rates, especially after US President Donald Trump said he did not favour the decision to maintain interest rates unchanged in the US. The high interest rates on loans in Egypt inhibits the willingness of the Egyptian and foreign private sector to engage in new partnerships, acquisitions, or investments, Abdel-Raouf said. The investment climate is still in need of reforms, he said, adding that while the entry of foreign investors is facilitated, the process for these investors to exit and transfer their profits in dollars is not as easy. The fact that nearly 50 per cent of the companies in which the government has a stake are unprofitable indicates a need for a different management strategy integrated into the productive capacity of the Egyptian economy. Abdel-Raouf said that utilising this capacity or redirecting productive activity would be more feasible than seeking liquidity at high interest rates to establish new factories and companies. The data analysis, conducted by the IDSC in collaboration with the relevant state institutions, involved the creation of a comprehensive database encompassing all state-owned companies. In August 2024, this database recorded approximately 709 state-owned companies distributed across 18 sectors. The ownership of these companies is held by 33 entities, including 18 ministries, nine governorates, the Central Bank of Egypt, the Financial Supervisory Authority, the Radio and Television Union, the Unified Procurement Authority, the Upper Egypt Development Authority, and the Suez Canal Authority. Companies affiliated with the Ministry of Public Enterprise represent about 44.7 per cent of the total. The report says that out of the total 709 state-owned companies, 452 do not have clearly specified government shareholdings. The government's stake exceeds 75 per cent in 158 companies, while in 80 its shareholding is less than 25 per cent. Some 54 per cent of the companies in which the government has a stake are profitable, compared to 42.2 per cent that are incurring losses. The remaining 3.8 per cent have an unclear status regarding whether they are making profits or losses, the report said. * A version of this article appears in print in the 13 February, 2025 edition of Al-Ahram Weekly Short link:

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