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Saudi Arabia's Production of Coffee Exceeds 800 Tons Annually

The Kingdom has achieved the inclusion of coffee on the UNESCO list of intangible cultural heritage. - SPA
The Kingdom has achieved the inclusion of coffee on the UNESCO list of intangible cultural heritage. - SPA
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Saudi Arabia's Production of Coffee Exceeds 800 Tons Annually

The Kingdom has achieved the inclusion of coffee on the UNESCO list of intangible cultural heritage. - SPA
The Kingdom has achieved the inclusion of coffee on the UNESCO list of intangible cultural heritage. - SPA

The Kingdom of Saudi Arabia is among the top 10 countries in the world in terms of coffee consumption, leading the government to show keen interest in this product by adopting various initiatives and programs to foster coffee cultivation, SPA reported.
The Kingdom currently produces more than 400,000 Arabica coffee trees, yielding over 800 tons annually, from the regions of Jazan, Aseer, and Al-Baha, with the sector development plan aiming to plant 1.2 million coffee trees by 2026.
On the occasion of International Coffee Day, celebrated every year on October 1st, the Ministry of Environment, Water, and Agriculture affirmed that the Kingdom hosts more than 2,535 coffee farms in the Southern Region, including over 500 model coffee farms.
The ministry stressed its commitment to work on increasing coffee production as part of crops with high economic returns.
The ministry aims to make 15 provinces in the southwestern part of the Kingdom a significant source of Saudi Arabian coffee, specifically the Arabica type known for its quality compared to other types. This effort aims to boost coffee production in the Kingdom in support of the national economy, in line with the goals of Saudi Vision 2030.
The ministry also emphasized the launch of several initiatives and programs to develop coffee cultivation, including the support provided by the Sustainable Agricultural Rural Development Program (REF) to enhance the production, manufacturing, and marketing of Arabica coffee.
Additionally, the Ministry has signed an investment agreement for the establishment of the Kingdom's first coffee city.
The Kingdom has achieved the inclusion of coffee on the UNESCO list of intangible cultural heritage.
With the support directed by the wise leadership, the term "Saudi Coffee" replaced "Arabic Coffee," and the Year of Saudi Coffee was commemorated in 2022.
Moreover, the Public Investment Fund (PIF) has been directed to launch the Saudi Coffee Company to invest in this vital sector, given its special significance among Saudis and the Kingdom's guests.

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Fitch Affirms Saudi Arabia’s Credit Rating at ‘A+’ with Stable Outlook

FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
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Fitch Affirms Saudi Arabia’s Credit Rating at ‘A+’ with Stable Outlook

FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo

Fitch Ratings has affirmed Saudi Arabia’s sovereign credit rating at A+ with a stable outlook, according to a report issued by the agency on Friday.

The agency said the Kingdom’s credit profile reflects the strength of its fiscal position, noting that its government debt-to-GDP ratio and net sovereign foreign assets are significantly stronger than the medians for both the “A” and “AA” rating categories.

Fitch also highlighted Saudi Arabia’s substantial financial buffers, including deposits and other public sector assets.

The ratings agency projected real GDP growth of 4.8% in 2026 and expects the fiscal deficit to narrow to 3.6% of GDP by the end of 2027.

Fitch also said non-oil revenues are expected to continue benefiting from strong economic activity and improved revenue efficiency.

The agency praised the momentum of economic reforms, including the updated investment system and the continued opening of the real estate and equity markets to foreign investors.

Business

Oil Prices Rise 1% as Supply Risks Remain in Focus

The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian
The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian
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Oil Prices Rise 1% as Supply Risks Remain in Focus

The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian
The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. REUTERS/Antranik Tavitian

Oil prices rose over 1% on Friday as supply risks remained in focus despite the receding likelihood of a US military strike against Iran.

Brent crude was up 84 cents, or 1.3%, to $64.60 a barrel at 1413 GMT, on course for a fourth consecutive weekly gain. US West Texas Intermediate was up 80 cents, or 1.4%, to $59.99.

At those levels, Brent was on course for a 2% weekly gain and WTI for a 1.4% gain. Brent ⁠was up a little more than $1 at its intraday peak as investors continue to weigh the potential for supply outages should tensions in the Middle East escalate, Reuters reported.

"While geopolitical tensions in the Middle East have eased, they have not disappeared, and market participants remain concerned about potential supply disruptions," said UBS analyst Giovanni Staunovo.

Both benchmarks hit multi-month highs this week ⁠after protests flared up in Iran and US President Donald Trump signaled the potential for military strikes, but lost over 4% on Thursday as Trump said that Tehran's crackdown on the protesters was easing, allaying concerns of possible military action that could disrupt oil supplies.

"Above all, there are worries about a possible blockade of the Strait of Hormuz by Iran in the event of an escalation, through which around a quarter of seaborne oil supplies flow," Commerzbank analysts said in a note.

"Should there be signs of a sustained easing on ⁠this front, developments in Venezuela are likely to return to the spotlight, with oil that was recently sanctioned or blocked gradually flowing onto the world market."

Meanwhile, analysts expect higher supply this year, potentially creating a ceiling for the geopolitical risk premium on prices.

"Despite the steady drumbeat of geopolitical risks and macro speculation, the underlying balance still points to ample supply," said Phillip Nova analyst Priyanka Sachdeva.

"Unless we see a genuine revival in Chinese demand or a meaningful bottleneck in physical barrel flows, oil looks range-bound, with Brent broadly hovering between $57 and $67."

Business

Gold Eases as Strong US Data, Easing Geopolitical Tensions Sap Momentum

FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo
FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo
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Gold Eases as Strong US Data, Easing Geopolitical Tensions Sap Momentum

FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo
FILE PHOTO: A saleswoman displays a gold necklace inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 7, 2019. REUTERS/Rupak De Chowdhuri/File Photo

Gold prices ticked lower on Friday, extending losses from the previous session, as stronger-than-expected US economic data and easing geopolitical tensions in Iran hampered bullion's bullish momentum.

Spot gold eased 0.3% to $4,603.02 per ounce by 0918 GMT. However, the metal is poised for a weekly gain of about 2% after scaling a record peak of $4,642.72 on Wednesday. US gold futures for February delivery edged 0.4% lower to $4,606.70.

"There was ‌a lot of ‌momentum in the (gold) market, which seems to ‌have ⁠faded slightly ‌at the moment....the economic news flow out of the US has been causing some headwinds rather than tailwinds as of late, which is reflected in a somewhat stronger US dollar," said Julius Baer analyst Carsten Menke.

The US dollar hovered near a six-week high on the back of positive economic data on Thursday showing initial jobless claims dropped 9,000 ⁠to a seasonally adjusted 198,000 last week, below economists' forecast of 215,000.

A firmer ‌dollar makes greenback-priced bullion more expensive for overseas ‍buyers. On the geopolitical front, people ‍inside Iran, reached by Reuters on Wednesday and Thursday, said ‍protests appeared to have abated since Monday.

Safe-haven gold tends to do well during times of geopolitical and economic uncertainty. Meanwhile, gold demand in India stayed muted this week as prices hit record highs again, taking the shine off retail buying, while bullion traded at a premium in China as demand remained steady ahead of the Lunar ⁠New Year.

Spot silver shed 1.1% to $91.33 per ounce, although it was headed for a weekly gain of over 14% after hitting an all-time high of $93.57 in the previous session. "The silver market seemed very determined to reach the $100 per ounce threshold before moving lower again....speculative traders are keeping an eye on that level even though it would not be sustainable in the medium to longer-term," Menke added.

Spot platinum dropped 2.7% to $2,345.78 per ounce, and was set to gain more than 3.1% for the week so far. Palladium lost 2.6% to $1,755.04 per ‌ounce, after hitting a more than one-week low earlier, and was headed for a weekly loss of 3.3%.