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Zawya
20-05-2025
- Business
- Zawya
Housing Minister: More than 133,000 firms in Saudi construction sector
RIYADH — Saudi Housing Minister Majid Al-Hogail said that the construction sector in Saudi Arabia has more than 133,000 establishments with over 1.6 million individuals participating daily in building a new reality: smart cities and integrated development. Al-Hogail noted that project management gives organizations greater predictability, responsiveness, and execution, and improves performance and raises the quality of achievement. He emphasized that Saudi Arabia's Vision 2030 outlines an ambitious future that reshapes the economic, social, and development landscape. The minister explained that project management has become a strategic approach and an essential tool for leading change and achieving sustainable impact, and is no longer an executive option. He noted that the National Projects Council is playing a growing role in unifying efforts and enhancing performance. He added, "Government project management offices contribute to enhancing planning, follow-up, and governance practices, ensuring quality implementation and consistency with national goals." This came during his inauguration of the Global Project Management Forum (GPMF 2025), hosted by the capital, Riyadh. The GPMF is one of the prominent international events in this field, bringing together more than 13,000 specialists and interested parties from at least 100 countries. There will be 120 international speakers, 60 dialogue sessions and 16 training workshops. The event reflects the position that Saudi Arabia occupies in leading developmental and institutional transformations at the global level. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
06-05-2025
- Climate
- Zawya
Strong winds, low visibility expected in Kuwait through Fri.
KUWAIT: Kuwait is expected to be hit by strong northwesterly winds starting Monday evening, with gusts exceeding 60 km/h, according to the Meteorology Department. Acting Director Dharar Al-Ali said the winds will reduce horizontal visibility in some areas and cause sea waves to rise above six feet. The blustery conditions are forecast to persist through Friday evening. "This period, known as the 'Sarayat', is marked by unstable and rapidly changing weather," Al-Ali said. On Sunday evening, winds reached over 70 km/h, with gusts topping 100 km/h in northern regions. Visibility in some areas dropped to less than 1,000 meters-and even to zero in places-he added. Increased low and mid-level cloud cover, including intermittent cumulus clouds and scattered thunderstorms, was also reported. These conditions were attributed to an extension of a thermal low pressure system. Al-Ali urged motorists to exercise caution on highways and advised seafarers to remain alert to rising waves, encouraging the public to follow updates via the department's official website, mobile app, and social media channels. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Zawya
06-05-2025
- Business
- Zawya
Gold prices in Egypt drop on Monday
Arab Finance: The gold prices in Egypt recorded collective gains on Monday, with the 24-karat rising to EGP 5,371.5 per gram for buying and EGP 5,394.25 for selling, iSagha's data showed. The 22-karat gold price increased to EGP 4,923.75 for buying and EGP 4,944.75 per gram for selling. Likewise, the 21-karat gold climbed to EGP 4,700 per gram for buying and EGP 4,720 for selling. The 18-karat gold price stood at EGP 4,028.5 per gram for buying and EGP 4,045.75 for selling. Meanwhile, the gold pound's price jumped to EGP 37,600 for purchasing and EGP 37,760 for selling. Finally, the price of the gold ounce hit $3,317.61 for buying and $3,317.9 for selling. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
05-05-2025
- Business
- Zawya
South Africa records budget deficit of $704mln in March
South Africa recorded a budget deficit of R13.11bn ($704m) in March 2025. This is compared with a surplus of R3.36bn in the same month last year, National Treasury data showed on Wednesday, 7 May 2025. All rights reserved. © 2022. Provided by SyndiGate Media Inc. ( Sfundo Parakozov
Zawya
05-05-2025
- Business
- Zawya
OPEC+ reaffirms commitment to stability, adjust production upward
VIENNA: Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed their commitment on Saturday to market stability on current healthy oil market fundamentals and adjust production upward. In a joint statement, the eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 3 May 2025, to review global market conditions and outlook. The statement noted, "in view of the current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day in June 2025 from May 2025 required production level." This is equivalent to three monthly increments as detailed in the table below. The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3rd 2024. They also confirmed their intention to fully compensate for any overproduced volume since January 2024. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on 1 June 2025 to decide on July production levels. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
