Latest news with #SR10
Gulf Insider
4 days ago
- Health
- Gulf Insider
Riyadh Warehouse Fined SR112,000 For Counterfeit And Mishandled Drugs
The Saudi Food and Drug Authority (SFDA) has imposed a fine of SR112,000 on a pharmaceutical warehouse in Riyadh and referred the case to the Public Prosecution, after uncovering serious breaches of pharmaceutical regulations. In a statement, the authority explained that the warehouse was found in possession of pharmaceutical products sourced from an unlicensed entity, in clear violation of the rules governing the circulation and distribution of medical products in the Kingdom. Further investigations revealed that the facility transported pharmaceutical items using unapproved methods, failing to meet required standards for handling sensitive medical goods. The SFDA warned that such practices can expose medications to harmful conditions, compromising their efficacy, stability, or safety. The warehouse was also found trading counterfeit pharmaceutical products, which led to the case being referred to the Public Prosecution. These actions fall under violations listed in Paragraph (2) of Article 34 of the Pharmaceutical and Herbal Products Facilities Law. The law stipulates that individuals who sell, dispense, or possess counterfeit, spoiled, expired, or unregistered pharmaceutical or herbal products with intent to trade may face up to 10 years in prison, a fine of up to SR10 million, or both. The SFDA reiterated its commitment to strict enforcement of national health standards and urged all pharmaceutical entities to adhere to licensed sourcing channels and approved transportation methods to ensure the safety and effectiveness of medical products distributed across the Kingdom.
Gulf Insider
10-05-2025
- Gulf Insider
Riyadh Man Faces Prosecution For Selling Counterfeit Pharmaceuticals
The Saudi Food and Drug Authority has referred the representative of a commercial establishment in Riyadh to the Public Prosecution after he was found to be involved in the sale of a counterfeit pharmaceutical product. The act is a direct violation of the Pharmaceutical and Herbal Establishments and Products Law in the Kingdom, which mandates a penalty of up to 10 years' imprisonment and a fine of SR10 million ($2.6 million), the Saudi Press Agency reported. The SFDA highlighted the importance of strictly adhering to the laws and regulations put in place to ensure the safety and quality of products circulating in the Saudi market. The authority said that violations pose a great risk to the health and safety of consumers, warranting the enforcement of legal penalties against offenders. The SFDA also requested the public's cooperation by reporting any observable violations in establishments under its supervision to the toll-free line 19999, in an effort to strengthen oversight and safeguard public health.
Saudi Gazette
07-05-2025
- Business
- Saudi Gazette
Saudi Arabia explores helicopter manufacturing partnership with France
Saudi Gazette report MARIGNANE — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef discussed with Airbus Helicopters CEO Bruno Even joint investment opportunities in helicopter manufacturing and maintenance at the company's headquarters in France. He also discussed Saudi Arabia's capabilities and incentives to encourage and attract quality investments in the aviation industry. Discussions also focused on enhancing cooperation in the aviation industry and joint opportunities in helicopter manufacturing and maintenance, as part of the Minister of Industry and Mineral Resources' official visit to France. Goals of Saudi Vision 2030 to achieve economic diversification, and its focus on empowering the private sector and building global partnerships were also discussed. AlKhorayef reviewed Saudi Arabia's strategic assets and competitive advantages that enhance its attractiveness for industrial investments, most notably its geographic location linking three continents, its abundant natural resources, competitive energy prices, advanced infrastructure, advanced industrial cities, and the ease of government meeting affirmed the National Industrial Strategy's focus on developing the aviation industry, placing it at the forefront of priority Arabia identified investment opportunities exceeding SR10 billion in key areas of the aviation industry, including maintenance, repair, and operation (MRO) services, drone manufacturing, and precision automation, as part of the Kingdom's efforts to become a global hub for the aviation industry.
Saudi Gazette
06-05-2025
- Business
- Saudi Gazette
Madinah sees implementing 213 development projects worth SR210 billion
Saudi Gazette report MADINAH — The Madinah Region is currently witnessing the implementation of a total of 213 development projects with a total value exceeding SR210 billion. These included 188 private sector projects and 15 government projects, according to an economic report issued by the Madinah Chamber of Commerce. The total land area allocated for these projects exceeds 15 million square meters. These projects are expected to provide more than 119,000 job opportunities in the future. The report indicated that the commercial sector accounted for the largest share of the list of projects under implementation, with 153 projects, followed by the residential and commercial sector with 27 projects, followed by the health, education, tourism, and religious sectors, respectively. The report showed that the gross domestic product in the Madinah region reached SR57.6 billion in the third quarter of 2024, achieving a growth of 2.8 percent compared to the same quarter of the previous year. The region also recorded the second-highest growth rate in domestic demand at 11 percent, according to points of sale, after Riyadh. It also reviewed the most prominent analytical data witnessed by the economic sector to support decision-making, investors, and entrepreneurs, and attract investments to stimulate economic development in the Madinah region. The report highlighted that real estate market in the Madinah region is witnessing a boom, with a trading volume of SR10 billion during 2024. The unemployment rate in the region decreased to 8.4 percent in the fourth quarter of 2024, compared to 10.3 percent in the third quarter of the same year. Meanwhile, the region's workforce increased to more than 458,000 employees, with economic activity concentrated mainly in the construction, trade, and manufacturing sectors. Mazen Rajab, chairman of the Madinah Chamber of Commerce, emphasized that the report stems from the chamber's commitment to providing the necessary support to investors, providing the data and statistics needed to inform economic decisions, and working to improve the investment and business environment in the region. He stated that the comparative and competitive advantages enjoyed by the Madinah region, and the available investment opportunities, make it a promising environment for growth and prosperity, within the framework and programs of the Kingdom's Vision 2030.
Gulf Insider
02-05-2025
- Gulf Insider
Saudi Arabia Fines Eight Foreign Trucks For Illegal Goods Transport In April
The Transport General Authority (TGA) reported that eight foreign trucks were stopped and fined SR10,000 each in April 2025 for illegally transporting goods within the Kingdom, in violation of domestic freight regulations. As part of its intensified oversight operations, TGA confirmed that all violators were penalized in accordance with established regulations, which include a SR10,000 fine and a 15-day impoundment for a first offense. Penalties increase sharply for repeat violations, reaching up to SR160,000 and vehicle confiscation for multiple infractions. Second-time offenders face a SR20,000 fine and a 30-day impoundment, while a third violation incurs a SR40,000 fine and 60-day impoundment. Fourth-time violators are fined SR80,000 with a 60-day impoundment, and a fifth violation triggers the maximum SR160,000 penalty and potential vehicle seizure. TGA also reported that its inspection teams carried out 1,552 field inspections nationwide in April, identifying a total of 1,462 violations. Riyadh recorded the highest number with 462 cases, followed by Aseer (216), Qassim (212), Makkah (183), Madinah (96), Eastern Region (87), Tabuk (61), and Hail (50). The remaining 95 violations were reported across other regions and cities.
