RIYADH: The Kingdom’s tourism sector got a major boost with the announcement on Sunday of a plan to issue new regulations to streamline the operation of hotels and furnished apartments. The new regulations have been issued by the Supreme Commission for Tourism and Antiquities (SCTA). The body, which is empowered to cease or issue operational permits to tourist facilities and hotels, has also announced it has taken over four important archaeological sites at a cost of about SR19 million. The sites are to be restored and developed for tourism. “Payments have been made on the instructions of Prince Sultan bin Salman, SCTA’s chief,” said Ali bin Ibrahim Al-Ghabban, SCTA’s vice president.
Prince Turki was quoted by Agence France Presse as saying on Sunday that his handshake at an international security conference in Munich should not be seen as acquiescence to Israel’s stance on Palestinian autonomy. “My strong objections and condemnations of Tel Aviv’s policies and actions against the Palestinians remain unchanged,” he said.
RIYADH: A panel of distinguished speakers at the Global Competitiveness Forum (GCF) in Riyadh on Tuesday called for creating a conducive economic environment to sustain research across the world at a time Saudi brands are emerging on domestic and international markets. The panel also discussed how innovative capabilities can be developed, how they will impact economic growth and sustainability, and how they will shape the world in different ways during the 21st century.
RIYADH: Former British Prime Minister Tony Blair, who is also the envoy of the Mideast Quartet, called on nations to enhance competitiveness to create better conditions for business growth across the world and to look to the East for successful business modules. During his two-day stay in Riyadh, Blair discussed bilateral and regional issues with top Saudi officials including Riyadh Gov. Prince Salman. Blair, who wrapped up his visit to the Kingdom on Monday night, also held-wide ranging talks with Custodian of the Two Holy Mosques King Abdullah on Sunday.
RIYADH: With just 11 months remaining until the Saudi Arabian General Investment Authority (SAGIA) has to meet the deadline to fulfill its revolutionary 10×10 economic vision, the organization is pushing forward in helping the Kingdom upgrade its regulatory regime to provide an optimal business environment. “Achieving a top 10 rank in terms of competitiveness will present significant challenges, but will make a lot of difference to the Kingdom,” said SAGIA chief Amr Al-Dabbagh on Monday.
RIYADH: Finance Minister Ibrahim Al-Assaf said Sunday the Kingdom will continue to pump money into the economy even as it rebounds from last year’s stagnation. The minister was delivering the keynote address at the Global Competitiveness Forum here. “At one point, there will be a curbing of spending, but in my view 2010 is a year that needs continuous stimulus to the economy,” said Al-Assaf, on the second day of the forum. “Stimulus packages shouldn’t be withdrawn prematurely nor should they be extended more than required so as not to produce inflationary pressures.” Saudi Arabia expects growth of over 4 percent in 2010, said the minister. The country’s economy expanded by 0.15 percent in 2009.
Saudi Arabia and China called on Israel on Wednesday to comply with UN resolutions and create a conductive atmosphere to restart peace talks.
Saudi Arabia and Germany called on Israel to break the current stalement with the Palestinians, to cease settlement activity in occupied lands and to accept East Jerusalem as the capital of a future Palestinian state.
Riyadh: Saudi Arabia is set to receive its first women-only spa. The local five-star Al-Faisaliah Hotel has received preliminary approval from regulatory authorities for its “Sence Spa”, which will hopefully open in line with the hotel’s 10th anniversary in May, when a new wing of 106 room will also be unveiled.
KUWAIT/RIYADH: GCC leaders attending an annual summit here have opposed any military action by Western countries against Iran over its nuclear program, Kuwait’s Foreign Minister Sheikh Mohammad Al-Sabah said on Tuesday. “We do not accept any military action against Iran,” he told reporters. As the Gulf leaders ended the two-day talks, a GCC monetary union pact took effect on Tuesday, a major achievement of the summit that would bring the Gulf Cooperation Council states closer toward launching a single GCC currency. Custodian of the Two Holy Mosques King Abdullah led the Saudi delegation to the summit.