Latest news with #AlKathiri
Arab News
5 days ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 10,990
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Thursday, as it shed 62.35 points, or 0.56 percent, to close at 10,990.41. The total trading turnover of the benchmark index was SR10.20 billion ($2.72 billion), with 169 of the listed stocks advancing and 74 declining. The Kingdom's parallel market Nomu also dropped 123.20 points to close at 26,809.75. The MSCI Tadawul Index declined by 0.70 percent to 1,403.80. The best-performing stock on the main market was Saudi Reinsurance Co. The firm's share price soared by 9.31 percent to SR50.50. The share price of East Pipes Integrated Co. for Industry increased by 7.83 percent to SR124. Arabian Drilling Co. also saw its stock price edging up by 5.12 percent to SR84.20. Conversely, the share price of Makkah Construction and Development Co. declined by 5.65 percent to SR96.80. On the announcements front, Al Moammar Information Systems Co., also known as MIS, said that it signed a contract valued at SR58.93 million with the Saudi Data and Artificial Intelligence Authority to operate and maintain the National Unified Visa Platform. In a Tadawul statement, the company stated that the contract is valid for 36 months, with no related parties involved in the deal. MIS added that the contract is expected to have an impact on the company's financial results starting from the third quarter of this year. The share price of MIS rose by 1.66 percent to SR134.80. Al Kathiri Holding Co. said that its subsidiary, Saraya Al Diyar Investment Co., has entered into a long-term lease agreement valued at SR143.1 million with the Aseer Municipality to build and operate a mixed-use hotel and commercial complex in Abha. Under the deal, Saraya Al Diyar Investment Co. will establish a four-star hotel with 180 keys, as well as retail and entertainment facilities in the project that spans a total area of 53,000 sq. meters. The new contract is in line with Al Kathiri Holding's strategic direction to diversify its investment portfolio and expand into promising, high-impact sectors, aligning with the goals of Saudi Vision 2030, the company said in the statement. Al Kathiri Holding Co.'s share price was unchanged at SR2.08 by the end of Thursday's trading.
Argaam
6 days ago
- Business
- Argaam
Al Kathiri unit inks SAR 143.1M lease deal to build hotel
Al Kathiri Holding 's subsidiary, Saraya Al Diyar Investment Co., signed a long-term lease agreement with the Aseer Municipality on May 27 to build and operate a mixed-use hotel and commercial complex in Abha. The project will span a total area of 53,000 square meters. Saraya Al Diyar will establish a four-star hotel with 180 keys, in addition to retail and entertainment facilities, Al Kathiri said in a statement to Tadawul. The lease is valid for 50 years at a total value of SAR 143.1 million. It will be effective from the date on which the company received the allocated land plot from Aseer Municipality (June 25, 2025 – Dec. 28, 2075). The new agreement aligns with Al Kathiri's strategy that aims to diversify the company's investment portfolio and expand into promising, viable, strategic sectors in line with Vision 2030, the statement added.
Observer
21-05-2025
- Politics
- Observer
Oman committed to global maritime security
NEW YORK: The Sultanate of Oman has affirmed its decades-long active role in supporting the security and safety of regional and international maritime navigation, recognising the vital importance of these waterways to global trade and energy movement, as well as the legal, security and humanitarian responsibilities they entail. This came in a speech delivered by Ambassador Omar bin Said al Kathiri, Oman's Permanent Representative to the United Nations (UN), during the high-level session of the UN Security Council on 'Enhancing Maritime Navigation Security through International Cooperation for Global Stability,' held in New York. In his address, the ambassador emphasised that Oman has worked to align its national legislation with relevant international legal frameworks, foremost the United Nations Convention on the Law of the Sea (UNCLOS), which is based on the principle of freedom of navigation, safeguards the responsibilities of coastal and transit states and establishes the legal foundations for resolving maritime disputes. He noted that Oman recently hosted the eighth Indian Ocean Conference, which focused on enhancing cooperation and integration in maritime security management, reflecting the importance of joint regional action. He stressed that Oman firmly believes the security of seas and waterways is a fundamental pillar for maintaining regional and international stability, ensuring freedom of navigation, sustaining global trade, safeguarding food and energy security, and promoting sustainable development. Oman's Permanent Representative to the UN highlighted that escalating transnational threats - such as maritime terrorism, piracy, human and drug trafficking, organised crime, and illicit trade - alongside environmental repercussions from climate change and attacks on maritime infrastructure, necessitate well-considered collective responses that reflect the spirit of cooperation and shared responsibility enshrined in the UN Charter. He also addressed Oman's pivotal mediation role in reaching the ceasefire agreement announced on May 6, 2025, to ensure freedom of navigation in the Red Sea and the Bab el-Mandeb Strait. This constructive step demonstrates Oman's commitment to easing regional tensions, enhancing maritime stability, and securing the smooth flow of international shipping. He reiterated Oman's emphasis on strengthening adherence to international law, particularly UNCLOS, as the comprehensive legal framework for all maritime activities, while stressing the full implementation of relevant Security Council resolutions and cooperation with the International Maritime Organization (IMO) and other specialised bodies. He pointed to the need for capacity-building in developing nations, particularly in maritime surveillance, information-sharing, emergency response, infrastructure protection and combating organised crime through well-planned collective initiatives and effective partnerships. Al Kathiri stated that modern technology is a crucial tool for enhancing maritime domain awareness and improving states' ability to respond promptly to challenges, utilising satellites, data analysis and artificial intelligence. He underscored the importance of addressing the worsening impacts of climate change and environmental degradation, which compound maritime security risks and called on the international community to develop integrated strategies for protecting the marine environment. He also emphasised the value of constructive dialogue and preventive diplomacy in achieving collective security, resolving disputes, building trust among nations and fostering a safe, stable environment for maritime, commercial and economic activities. Concluding his speech, the ambassador affirmed that Oman - guided by its foreign policy principles of good neighbourliness, non-interference, and respect for international law - will remain a responsible partner in enhancing maritime navigation security, ensuring stability in international waterways and supporting multilateral efforts to develop effective, comprehensive solutions to challenges facing seas and oceans. This commitment upholds international peace and security and serves the interests of all nations. — ONA
