Latest news with #RegionalHeadquarters
The Mainichi
a day ago
- Science
- The Mainichi
Japan's Tokara Islands hit by record 740 quakes in 10 days: weather agency
TOKYO -- A record 740 earthquakes have been recorded off the coast of the Tokara island chain in southwest Japan's Kagoshima Prefecture in the last 10 days, the weather agency announced July 1. According to the Japan Meteorological Agency's Fukuoka Regional Headquarters, there were 740 tremors measuring 1 or higher on the 7-point Japanese seismic intensity scale. While there have been earthquakes in the past with hundreds of tremors occurring over a period of two to three weeks, this is the largest number of quakes off the remote islands. Seismic activity in the area intensified around 8 a.m. on June 21. By 11 a.m. on July 1, there had been one quake measuring lower 5 on the intensity scale, 11 measuring level 4, 44 with level 3, 185 registering scale 2 and 499 measuring 1. No tsunami have been observed, and there have been no reports of damage. The waters surrounding the Tokara Islands -- a group of 12 islets located between Yakushima and Amami Oshima islands -- have experienced clusters of earthquakes every few years, but the weather agency's Fukuoka Regional Headquarters notes that this is the most active period in recent years. The number of daily temblors peaked at 183 on June 23, then declined to 15 on June 26 and 16 on June 27, but rose again to 34 on June 28 and 98 on June 29. On June 30, 62 quakes were recorded. Earthquakes with a seismic intensity of lower 5 and 4 were observed on Akuseki Island, which is home to 43 households and 89 residents. According to Hisayoshi Yokose, associate professor of marine volcanology at Kumamoto University's graduate school, the area around the Tokara Islands features unique topography, including large underwater ridges that sink beneath a plate. This makes it easier for strain to build up, which is thought to lead to frequent earthquakes. The weather agency is calling for caution, warning that quakes measuring around lower 5 may hit the area.
Argaam
2 days ago
- Business
- Argaam
Knight Frank sees higher demand for offices, hotels in Saudi Arabia
Knight Frank stated that government initiatives — particularly the Regional Headquarters Program — are driving increased demand for office space in Saudi Arabia, especially in Riyadh. Around 600 companies announced plans to establish their regional headquarters in the city, significantly boosting demand for prime office space and reshaping the quality of services and amenities offered in the market. In its latest report on Saudi Arabia, the firm noted that office vacancy rates in Riyadh remain low. "Grade A" office rents surged by 23% year-on-year (YoY) in Q1 2025, reaching a record high of SAR 2,700 per square meter. "Grade B" office rents also climbed 24% YoY over the same period, as a shortage of premium space led companies to seek alternatives. Knight Frank expects some improvement over the next two years, with approximately 2.7 million square meters of new office spaces projected to be delivered across the Kingdom. The report also highlighted strong occupancy levels in Jeddah, where office rents continue to rise steadily. This trend is supported by growing demand and sustained investment from leading private sector firms. "Grade A" office rents in Jeddah rose by 4%, while "Grade B" rents increased by 6% during the same period.
Al Arabiya
24-02-2025
- Business
- Al Arabiya
From desert to destination: Saudi Arabia's transformation into a global business hub
The global economic landscape is undergoing a transformation, and Saudi Arabia is positioning itself as a major player. The Kingdom has witnessed a remarkable influx of multinational corporations setting up regional headquarters, now nearing 600, while registered investment licenses have soared from approximately 4,000 in 2018 and 2019 to an astounding 40,000 today. This unprecedented growth is a testament to Saudi Arabia's ambitious economic reforms, strategic investments, and its drive to establish itself as a premier international business destination. Vision 2030: A blueprint for economic diversification Central to this transformation is Vision 2030, an initiative launched in 2016 aimed at reducing the country's reliance on oil by fostering growth in sectors such as tourism, entertainment, technology, and renewable energy. Through groundbreaking projects spearheaded by the Public Investment Fund (PIF) and large-scale Giga Projects, Saudi Arabia has attracted substantial foreign direct investment (FDI), paving the way for a more dynamic and competitive business environment. Regulatory reforms and investment incentives To create an investor-friendly climate, Saudi Arabia has implemented significant regulatory changes. The introduction of full foreign ownership in key sectors, streamlined licensing procedures, and tax incentives have dramatically enhanced the ease of doing business. Additionally, the Regional Headquarters (RHQ) program, which mandates that firms seeking government contracts establish a regional base in Saudi Arabia, has encouraged many corporations to deepen their presence in the Kingdom. These progressive policy shifts have strengthened investor confidence, making Saudi Arabia an increasingly attractive destination for corporate expansion. World-class infrastructure and strategic connectivity Saudi Arabia's business boom is further fueled by its investment in cutting-edge infrastructure. The ambitious NEOM project, valued at $500 billion, along with the expansion of industrial and logistics hubs and economic cities, has significantly improved the Kingdom's global connectivity. Its strategic geographical position at the crossroads of Europe, Asia, and Africa provides businesses with exceptional access to international markets. Enhancements in transportation infrastructure, including high-speed rail systems, modernized airports, and advanced seaports, have reinforced Saudi Arabia's role as a key regional logistics hub. Navigating challenges and embracing opportunities While Saudi Arabia's economic transformation has been rapid, challenges remain. However, the Kingdom has demonstrated resilience by turning these challenges into opportunities. As regional competition intensifies, adapting to cultural and regulatory nuances remains a crucial factor for foreign enterprises. Nevertheless, Saudi Arabia's steadfast commitment to long-term economic reforms, increased transparency, and investor protections continues to cultivate a stable and welcoming environment for international corporations. A thriving future for business in Saudi Arabia Saudi Arabia's rise as a global business destination is not a coincidence but a result of deliberate policies, strategic investments, and a forward-looking vision. With an increasing number of companies recognizing the vast opportunities within the Kingdom, its role as a leading business hub will only continue to grow. As Saudi Arabia advances its reforms and infrastructure development, it is poised to become a cornerstone of the global economy. The message is clear: Saudi Arabia is open for business, and the world is paying attention.
