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A a court may exempt the perpetrator of the concealment (tasattur) crime from the penalties stipulated in the Anti-Commercial Concealment Law.
7 conditions to exempt perpetrator from tasattur penalties
Saudi Gazette report RIYADH — The National Anti-Commercial Concealment Program affirmed that a court may exempt the perpetrator of the concealment (tasattur) crime from the penalties stipulated in the Anti-Commercial Concealment Law. There are seven conditions to exempt from tasattur penalties as per article two of the exemption rules in the Anti-Concealment Law. The court may exempt those who committed the crime of concealment from the penalties of the law and other penalties resulting from it if these conditions are met.The first condition is that the person has to stop committing the crime when he was informed about it. Another condition is that the perpetrator shall inform the Ministry of Commerce about his commission of the crime or the identity of any of the perpetrators or...
July 27, 2023

7 conditions to exempt perpetrator from tasattur penalties

Saudi Arabia has called for the immediate release of Niger President Mohamed Bazoum.
Saudi Arabia calls for immediate release of Niger president
Saudi Gazette reportRIYADH — Saudi Arabia has called for the immediate release of Niger President Mohamed Bazoum.Bazoum has been removed from power, according to a group of soldiers who appeared on the West African nation's national television late Wednesday, hours after the president was held in the presidential palace.In the second statement about the political situation in Niger in as many days, Saudi Arabia expressed the total rejection of the attempt to overthrow the legitimacy of President Bazoum.“We call on the coup parties to quickly release the president and enable him to directly restore his constitutional powers while ensuring his safety and wellbeing,” the Ministry of Foreign Affairs said.The ministry reiterated the Kingdom's call to give priority to the interest...
July 27, 2023

Saudi Arabia calls for immediate release of Niger president

Over 425,000 firms entered Saudi labor market in a year 
Okaz/Saudi GazetteRIYADH — More than 425,000 establishments have entered the Saudi labor market in a year, with an average of 1,166 establishments a day.This was revealed during data monitoring conducted by Okaz/Saudi Gazette, based on government reports, for establishments entering the labor market from the end of the first quarter of 2022 until the end of the first quarter of the current year.The report revealed that the number of active establishments has increased by 54.98%, bringing the total number of establishments to more than 1.2 million, compared to the previous year, when it was about 775,000 establishments.Mega establishments with more than 500 employees have witnessed a growth of 10.82% to reach 1,843 establishments at the end of the second quarter of this year. Of 180 new...
July 27, 2023

Over 425,000 firms entered Saudi labor market in a year 

Saudi Arabia expresses concern over security and stability in Niger
Saudi Gazette report RIYADH — Saudi Arabia's Ministry of Foreign Affairs has announced that the Kingdom is following up with great concern about the developments being unfolded in the West African country of Niger.The ministry affirmed Saudi Arabia's keenness on Niger's security and stability and the safety of its establishments.While reiterating the Kingdom's full solidarity with the people of Niger, the ministry called on everyone to give priority to the voice of reason, wisdom, and the supreme national interest.A coup attempt has been reported in Niger, with members of the presidential guard detaining President Mohamed Bazoum, but the army has given them a deadline to release him. Members of the presidential guard also dispersed demonstrators by firing warning shots...
July 27, 2023

Saudi Arabia expresses concern over security and stability in Niger

Ayman Al-Sayari, Governor of SAMA, meets with the Chief Executive of HKMA, Eddie Yue, in Riyadh.
Saudi Central Bank, Hong Kong Monetary Authority discuss financial sector cooperation
Saudi Gazette reportRIYADH — The Saudi Central Bank (SAMA) and Hong Kong Monetary Authority (HKMA) have discussed ways to enhance cooperation in the financial services sector.The discussions were held as Ayman Al-Sayari, Governor of SAMA, received the Chief Executive of HKMA, Eddie Yue, and his accompanying delegation in Riyadh.During the meeting, the two sides covered a number of topics that would enhance cooperation in many fields including the development of financial infrastructure, in addition to open market operations, monetary policy, and financial technology (Fintech).The two sides highlighted areas of development in supervisory technologies (Suptech), Tokenization, as well as payment infrastructure.The meeting witnessed the signing of a memorandum of understanding (MoU) between...
July 27, 2023

Saudi Central Bank, Hong Kong Monetary Authority discuss financial sector cooperation

Saudi Central Bank raises repo and reverse repo rates by 25 basis points
RIYADH —The Saudi Central Bank (SAMA) decided to raise the rates of the Repurchase Agreement (Repo) and Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 6 percent and 5.50 percent respectively.These decisions are in line with SAMA’s mandate of preserving monetary stability. The US Federal Reserve announced a quarter-point hike in the main interest rate. This move pushed the federal funds rate into a range of 5.25% to 5.5%, which is the highest level in 22 years. — SG/SPA
July 27, 2023

Saudi Central Bank raises repo and reverse repo rates by 25 basis points

NCM launches updated mechanism for early warning of weather phenomena
Saudi Gazette report RIYADH — The National Center of Meteorology (NCM) launched a mechanism for dealing with updated weather phenomena with early warning through the automated system. The new mechanism included classifications of warning phases, which were adopted in accordance with the best international standards and practices, with dividing of warnings into yellow, orange and red. This means that the possibility of the area being affected by weather phenomenon and are issued before a period ranging between 6-12 hours or more from the impact of weather phenomena, according to specific criteria for each color.The mechanism deals with all types of weather phenomena that may affect the Kingdom’s atmosphere, including light to medium and heavy rains, dust storm, fog, strong winds, high...
July 26, 2023

NCM launches updated mechanism for early warning of weather phenomena

Nadhmi Al-Nasr, CEO of NEOM.
CEO Al-Nasr: Community established and schools opened in NEOM
Saudi Gazette report SEOUL — Nadhmi Al-Nasr, CEO of NEOM, said that a community has been established and schools have been opened in NEOM within the current phase of the project. He said that construction has begun throughout the project site.Addressing a press conference here on Monday, on the sidelines of the launching of an exhibition on NEOM in Seoul, Al-Nasr said that 60,000 people are residing and working on the site to build Neom. “The number of people living and working at the site will rise to 400,000 in the next year,” he said while stressing that NEOM is a story that will last for 25 years.“When the first phase of the project is completed in 2030, we will show the world the realism and applicability of this project, and I believe that we can finance the project through...
July 26, 2023

CEO Al-Nasr: Community established and schools opened in NEOM

File photo of a Saudi Arabian fighter jet F-15SA.
Saudi fighter jet crashes during exercise, killing crew on board
Saudi Gazette report RIYADH — A Saudi Arabian fighter jet F-15SA crashed during a training exercise in Khamis Mushait in the southern Asir region on Wednesday, killing two members of crew on board, Saudi Press Agency (SPA) reported.Brig. Gen. Turki Al-Maliki, spokesman of the Ministry of Defense, said that the crash resulted in the loss of the aircraft’s crew. The Ministry of Defense has launched an immediate investigation into the cause of the crash.The Royal Saudi Air Force combat aircraft crashed in the training area of King Khalid Air Base at around 2:28 pm on Wednesday. Referring to the death of the plane’s crew, Brig. Gen. Al-Maliki said: “May God have mercy on them, I ask the God Almighty to accept them from the righteous martyrs and to bestow their families and relatives...
July 26, 2023

Saudi fighter jet crashes during exercise, killing crew on board

The Minister of Environment, Water and Agriculture Eng. Abdulrahman Bin Abdulmohsen Al-Fadhli stated that the transformation of Saudi Arabia’s food systems has contributed to an increase in agricultural production over 11 million tons,
Transformation of Saudi Arabia's food systems contributes to rise in agricultural production over 11m tons
ROME — The transformation of Saudi Arabia’s food systems has contributed to an increase in agricultural production over 11 million tons, the Minister of Environment, Water and Agriculture Eng. Abdulrahman Bin Abdulmohsen Al-Fadhli stated.Eng. Al-Fadhli made the remarks during the Kingdom’s speech at the UN Food Systems Summit held between July 24 and 26 in Italy, which he delivered in a session entitled “Food Systems Transformation in Practice — Successes, Challenges and the Way Forward.”The minister has also stressed the Kingdom’s commitment to and support for international efforts to build food systems that contribute to achieving sustainable development goals.He noted that the world faces many challenges in food supplies, which requires greater cooperation and joint action...
July 26, 2023

Transformation of Saudi Arabia's food systems contributes to rise in agricultural production over 11m tons

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