Latest news with #SR19
Miami Herald
12-05-2025
- General
- Miami Herald
Midair parachute mishap forces instructor to make desperate move, FL cops say
A free falling skydiving instructor risked his life to save one of his students after a parachute malfunction in midair, according to investigators in North Florida. Both survived the incident, but it was the instructor that had to be rescued when he was left dangling from the top of a tree, the Putnam County Sheriff's Office said in a May 9 news release. The incident happened around 5:30 p.m. May 2, and the initial 911 call reported a skydiver went missing east of Palatka Municipal Airport, about a 50-mile drive south from Jacksonville. 'The student's first parachute failed. Seeing the dire situation, the instructor, risking his own safety, did not pull his chute in order to reach the student,' the sheriff's office said. 'Upon reaching the student, the second parachute deployed and the student was able to safely land off-course near the intersection of SR 100 and SR 19. When the instructor deployed his parachute, he was pulled further off-course.' A search of the area revealed the instructor was 'caught in trees about 40 feet in the air in a wooded property.' The terrain was too rugged to reach easily, but a good Samaritan stepped in with an unusual offer, officials said. 'Steven Key of Key Repair, which is located nearby, happened to have a lift that could reach the height needed and could maneuver back through the heavy brush. He quickly stopped what he was doing to help,' the sheriff's office said. 'Once in position paramedics and firefighters took the lift up to the parachutist and were able to free him.' The instructor was not injured, other than some 'scrapes,' officials said. His identity was not released.
Arab News
01-05-2025
- Business
- Arab News
Saudi Arabia's net FDI up 26%: GASTAT
RIYADH: Net foreign direct investment into Saudi Arabia reached SR22.1 billion ($5.89 billion) in the fourth quarter of 2024, representing a rise of 26 percent compared to the previous three months, newly released official data showed. According to the General Authority for Statistics, this figure was the highest level across the year, surpassing the SR15.5 billion seen in the first three months of 2024, the SR19 billion recorded in the second quarter, and the SR17.5 billion witnessed in the third. Saudi Arabia is aiming to attract $100 billion in FDI a year by the end of this decade as it seeks to make significant strides in diversifying its economy and reducing its decades-long dependence on crude revenues. When it came to inflows, GASTAT revealed SR23.8 billion was recieved in the final three months of 2024, marking a 17 percent rise from the third quarter. The value of FDI outflows stood at SR1.8 billion during the fourth quarter, marking a decrease of 39 percent compared to the previous three months. Comparison with 2023 The total net value of FDI in the fourth quarter was down 13 percent compared to the same period of 2023, where the figure stood at SR25.5 billion. Compared to the final quarter of 2023, the value of inflows declined by 11 percent in the last three months of 2024. GASTAT added that the value of outflows registered a growth rate of 20 percent compared to the same period of 2023. Saudi Arabia's FDI ambitions gain momentum The latest figures come after Saudi Arabia rose to 13th place in Kearney's 2025 Foreign Direct Investment Confidence Index, published in April. This is up one spot from last year and also means the Kingdom retained its position as the third-most attractive emerging market, signaling continued global confidence in its transformation strategy. Kearney said that the advancement of Saudi Arabia in the ranking reflects the nation's bold, reform-driven approach to building an internationally competitive, future-ready economy. In October, the Kingdom also approved an updated investment law to enhance FDI flows, with the Ministry of Investment stating that it would boost transparency and simplify the investment process. The rule also promises enhanced protections for investors, including adherence to the rule of law, fair treatment, and property rights, alongside robust safeguards for intellectual property and seamless fund transfers.
Zawya
28-04-2025
- Business
- Zawya
Saudi: STC reports strong first-quarter 2025 results with 11% rise in net profit
Saudi Arabia - stc announced its preliminary financial results for the period ending March 31, 2025, highlighting strong performance across key metrics. Revenues for the first quarter reached SR19,210 million, an increase of 1.60% compared to the same quarter last year. Gross profit rose to SR9,098 million, marking a 5.01% increase year-on-year, while operating profit reached SR3,584 million, up 2.02%. Earnings before interest, taxes, zakat, depreciation, and amortization (EBITDA) climbed to SR6,120 million, reflecting a 5.25% growth compared to the comparable quarter last year. Net profit for the first quarter rose to SR3,649 million, an increase of 11.05%. In line with its dividends distribution policy approved by the General Assembly, stc announced a distribution of SR0.55 per share for the first quarter of 2025. Commenting on the results, Eng. Olayan Alwetaid, CEO of stc Group, emphasized that the Group's ambitious strategy and forward-looking vision had delivered an excellent performance in the first quarter. He noted the company's achievement of 1.60% revenue growth, 5.01% gross profit growth, and an impressive 11.05% rise in net profit compared to the same period last year. The GCEO affirmed that these results reflect the Group's unwavering commitment to innovation, operational efficiency, sustainable growth, and creating added value for shareholders, customers, and the broader digital economy. Eng. Alwetaid also highlighted several strategic milestones achieved early in 2025, further strengthening stc's position in the telecommunications and information technology sector. Among these was a new global milestone as the Group successfully localized the software for eSIM technology in collaboration with Thales, making stc the first telecom operator in the world to obtain the SAS-UP license certification from the GSMA. The GCEO stressed that this achievement complements stc's ongoing efforts to support local content in the ICT sector through business localization and the transfer of manufacturing and technical expertise to the Kingdom. In line with its commitment to enhancing the region's digital communication infrastructure, stc signed a strategic agreement with Ooredoo to establish an international ground fiber network corridor between Saudi Arabia and Oman. This project, beginning with the Saudi-Oman corridor, aims to enhance regional connectivity by creating an integrated ground fiber network with two backup routes, linking submarine cable landing stations on the Red Sea in Saudi Arabia to counterparts on the Arabian Sea in Oman, passing through dedicated data centers in both countries. This agreement reaffirms stc Group's commitment to delivering advanced communication solutions, enhancing intercontinental connectivity, and driving digital transformation to support the region's economic growth. Additionally, stc Group strengthened its position in cloud computing and artificial intelligence by signing an agreement with Amazon Web Services (AWS). This partnership significantly boosts the Group's ability to deliver advanced technological solutions tailored to diverse sectors, reaffirming its commitment to advancing an integrated digital economy and leading the future of smart technology in the Kingdom and beyond. In a further demonstration of its commitment to excellence in digital services, stc enhanced its telecommunications network at the Two Holy Mosques during the holy month of Ramadan. By strengthening its infrastructure to meet peak demand, the Group achieved a 120% increase in connection speeds, ensuring an exceptional communication experience for visitors during the busiest periods. Finally, stc Group reaffirmed its commitment to continuing its pioneering journey by enabling digital transformation and driving national economic growth through strategic initiatives that empower various sectors. The Group aims to further solidify its position as a key partner in building a sustainable digital future aligned with the Kingdom's aspirations and its vision for a diversified, innovation-driven economy. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
27-04-2025
- Business
- Saudi Gazette
stc reports strong first-quarter 2025 results with 11% rise in net profit
stc announced its preliminary financial results for the period ending March 31, 2025, highlighting strong performance across key metrics. Revenues for the first quarter reached SR19,210 million, an increase of 1.60% compared to the same quarter last year. Gross profit rose to SR9,098 million, marking a 5.01% increase year-on-year, while operating profit reached SR3,584 million, up 2.02%. Earnings before interest, taxes, zakat, depreciation, and amortization (EBITDA) climbed to SR6,120 million, reflecting a 5.25% growth compared to the comparable quarter last year. Net profit for the first quarter rose to SR3,649 million, an increase of 11.05%. In line with its dividends distribution policy approved by the General Assembly, stc announced a distribution of SR0.55 per share for the first quarter of 2025. Commenting on the results, Eng. Olayan Alwetaid, CEO of stc Group, emphasized that the Group's ambitious strategy and forward-looking vision had delivered an excellent performance in the first quarter. He noted the company's achievement of 1.60% revenue growth, 5.01% gross profit growth, and an impressive 11.05% rise in net profit compared to the same period last year. The GCEO affirmed that these results reflect the Group's unwavering commitment to innovation, operational efficiency, sustainable growth, and creating added value for shareholders, customers, and the broader digital Alwetaid also highlighted several strategic milestones achieved early in 2025, further strengthening stc's position in the telecommunications and information technology sector. Among these was a new global milestone as the Group successfully localized the software for eSIM technology in collaboration with Thales, making stc the first telecom operator in the world to obtain the SAS-UP license certification from the GCEO stressed that this achievement complements stc's ongoing efforts to support local content in the ICT sector through business localization and the transfer of manufacturing and technical expertise to the line with its commitment to enhancing the region's digital communication infrastructure, stc signed a strategic agreement with Ooredoo to establish an international ground fiber network corridor between Saudi Arabia and Oman. This project, beginning with the Saudi-Oman corridor, aims to enhance regional connectivity by creating an integrated ground fiber network with two backup routes, linking submarine cable landing stations on the Red Sea in Saudi Arabia to counterparts on the Arabian Sea in Oman, passing through dedicated data centers in both agreement reaffirms stc Group's commitment to delivering advanced communication solutions, enhancing intercontinental connectivity, and driving digital transformation to support the region's economic stc Group strengthened its position in cloud computing and artificial intelligence by signing an agreement with Amazon Web Services (AWS). This partnership significantly boosts the Group's ability to deliver advanced technological solutions tailored to diverse sectors, reaffirming its commitment to advancing an integrated digital economy and leading the future of smart technology in the Kingdom and a further demonstration of its commitment to excellence in digital services, stc enhanced its telecommunications network at the Two Holy Mosques during the holy month of strengthening its infrastructure to meet peak demand, the Group achieved a 120% increase in connection speeds, ensuring an exceptional communication experience for visitors during the busiest stc Group reaffirmed its commitment to continuing its pioneering journey by enabling digital transformation and driving national economic growth through strategic initiatives that empower various Group aims to further solidify its position as a key partner in building a sustainable digital future aligned with the Kingdom's aspirations and its vision for a diversified, innovation-driven economy.
Zawya
13-02-2025
- Business
- Zawya
Investments in developing residential suburbs exceed $37.33bln: Saudi minister
RIYADH — Minister of Municipalities and Housing Majed Al-Hogail said that investments to develop residential suburbs with the partnership of 65 real estate developers have exceeded SR140 billion. The minister said this while attending a dialogue session titled "The Ministerial vision for the government's role in supporting and empowering the private sector" during the third edition of the Public Investment Fund Private Sector Forum at King Abdulaziz International Conference Center in Riyadh on Wednesday. Al-Hogail said that the current municipal projects portfolio has exceeded SR24 billion while working to enhance the role of the private sector in this field, noting that the total number of Saudis working in the sector exceeded 500000 young men and women in more than 318000 t establishments. The minister said that the private sector is a partner in urban development. "Investment contracts worth about SR19 billion have been signed in the municipal sector during the last three years," he said. Al-Hogail said that the ministry has adopted a transformational approach in dealing with urban development, while working on a number of activities to achieve this, including a new generation of regional plans, and creating an ideal urban environment for residents in all cities across the Kingdom, in addition to updating municipal guides, requirements and standards. Al-Hogail said that the Saudi Vision 2030 focused greatly on economic diversification by creating new economic activities, improving the quality of services provided in cities, and improving the urban landscape. The minister stressed that urban development is a comprehensive transformation that redefines the concept of cities, so that they become more sustainable, more attractive for investment, and more capable of providing a high quality of life for citizens, which in turn is clearly reflected in the economic aspects. He stressed that the contributions of the municipal and housing sectors to the gross domestic product (GDP) amounted to 14 percent of the real GDP for the year 2024, while the contributions of the construction and real estate activities sectors amounted to more than 16 percent of the total foreign direct investment flows. The two-day forum, which will conclude on Thursday, is showcasing PIF and its portfolio companies' business opportunities, signaling potential opportunities for investors and suppliers, and maximizing the windows of cooperation. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
