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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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Business

Egypt Signs Preliminary Financing Agreement on $650 Million Solar Project in Upper Egypt

A general view of the Benban plant of photovoltaic solar panels in Aswan, Egypt, November 17, 2019. (Reuters)
A general view of the Benban plant of photovoltaic solar panels in Aswan, Egypt, November 17, 2019. (Reuters)
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Egypt Signs Preliminary Financing Agreement on $650 Million Solar Project in Upper Egypt

A general view of the Benban plant of photovoltaic solar panels in Aswan, Egypt, November 17, 2019. (Reuters)
A general view of the Benban plant of photovoltaic solar panels in Aswan, Egypt, November 17, 2019. (Reuters)

Egypt has signed a preliminary financing agreement with Norway's Scatec and three multilateral development banks for a $650 million solar power project in the southern province of Qena, the cabinet said on Monday.

Egypt ‌is scaling ‌up renewable energy ‌projects ⁠to reduce its natural ⁠gas import bill, targeting a 42% share of renewable energy in its electricity generation mix by 2030.

The Dandara project in ⁠Nagaa Hammadi city will ‌have generation ‌capacity of 1 gigawatt and ‌battery storage of 200 megawatt ‌hours, the cabinet said.

The European Investment Bank, European Bank for Reconstruction and Development and African ‌Development Bank are participating in the financing arrangements while ⁠the ⁠National Bank of Egypt will take an equity stake in the project company.

The project will be built in two phases, each adding 500 megawatts of solar capacity and 100 megawatt hours of battery storage.

Business

RSNF Launches HMS NEOM Under Second Phase of Sarawat Project

HAZEM, the first Saudi naval combat management system of its kind, is among the project’s most significant outcomes. It was developed through a strategic partnership between Saudi Arabian Military Industries (SAMI) and Spain’s Navantia - SPA
HAZEM, the first Saudi naval combat management system of its kind, is among the project’s most significant outcomes. It was developed through a strategic partnership between Saudi Arabian Military Industries (SAMI) and Spain’s Navantia - SPA
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RSNF Launches HMS NEOM Under Second Phase of Sarawat Project

HAZEM, the first Saudi naval combat management system of its kind, is among the project’s most significant outcomes. It was developed through a strategic partnership between Saudi Arabian Military Industries (SAMI) and Spain’s Navantia - SPA
HAZEM, the first Saudi naval combat management system of its kind, is among the project’s most significant outcomes. It was developed through a strategic partnership between Saudi Arabian Military Industries (SAMI) and Spain’s Navantia - SPA

The Royal Saudi Naval Forces (RSNF) launched His Majesty's Ship NEOM (HMS NEOM), the second ship in the second phase of the Sarawat Project, at Navantia’s shipyard in San Fernando, Spain, following the completion of hull construction and assembly.

The outfitting, installation and integration of the ship’s systems will be completed in Saudi Arabia, followed by acceptance trials on Saudi lands and in Saudi waters, supporting technology transfer and the localization of military shipbuilding.

The launching ceremony was attended by Chief of Staff of RSNF Vice Adm. Mohammed bin Abdulrahman Alghuraiby, Saudi Ambassador to Spain Princess Haifa bint Abdulaziz bin Ayyaf Al Muqrin, Navantia Chairman Ricardo Domínguez, Chief Operating Officer at the company Gonzalo Mateo-Guerrero, San Fernando Shipyard Director Alberto Cervantes Sánchez, and senior naval officers from both countries.

Speaking at the ceremony, Vice Adm. Alghuraiby expressed appreciation for the unwavering support extended to the Armed Forces, particularly the RSNF, by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and Minister of Defense Prince Khalid bin Salman bin Abdulaziz. He said this support has helped develop defense capabilities and enhance operational readiness and effectiveness.

He praised the Saudi-Spanish partnership and its role in developing naval capabilities, as well as the efforts of the project’s engineers and technicians in achieving this milestone. He emphasized that the Sarawat Project strengthens naval readiness and develops national expertise through a comprehensive package of logistics support and crew qualification and training, equipping personnel with the knowledge and experience needed to operate and maintain the ships.

The contract for the second phase of the Sarawat Project includes a comprehensive logistics support package, crew training programs and a plan to qualify more than 100 Saudi engineers, alongside the localization of combat systems integration and maintenance.

HAZEM, the first Saudi naval combat management system of its kind, is among the project’s most significant outcomes. It was developed through a strategic partnership between Saudi Arabian Military Industries (SAMI) and Spain’s Navantia.

As the regulator of the military industries sector, the General Authority for Military Industries (GAMI) supported the project through its industrial participation agreement with Navantia. The agreement includes specific targets for localization and the development of domestic capabilities, supporting Saudi Arabia’s military industries, advancing knowledge and technology transfer, and enhancing military readiness.

The second phase of the Sarawat Project comprises three Avante 2200 multirole corvettes: HMS AlMadinah, HMS NEOM and HMS AlUla. It builds on the first phase, which delivered five warships to the Royal Saudi Naval Forces.

The ships feature advanced systems to counter aerial, surface and subsurface threats, strengthening their ability to protect Saudi Arabia’s strategic interests and secure vital sea lanes.

Business

Oil Drops from Near Six-Month Highs on Hopes Iran War Hostilities to Ease

Pumpjacks operating in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)
Pumpjacks operating in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)
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Oil Drops from Near Six-Month Highs on Hopes Iran War Hostilities to Ease

Pumpjacks operating in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)
Pumpjacks operating in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)

Oil prices fell on Monday after surging last week to near six-month highs, amid hopes of easing hostilities between the United States and Iran.

US West Texas Intermediate crude futures were down $1.76, or 1.7%, at $101.51 per barrel by 0744 GMT. Brent crude futures were down $1.49, or 1.28%, at $115.23.

On Friday, prices settled nearly $3 higher after Houthi attacks in Saudi Arabia stoked energy supply concerns. Brent finished ‌the week up ‌6% and WTI ended 2.3% higher.

On Sunday, Qatari mediators ‌traveled ⁠to Tehran as ⁠part of an effort to de-escalate regional tensions in coordination with the United States, an official briefed on the situation said.

Also, top officials from Makkah Defense Agreement countries Saudi Arabia, Türkiye and Pakistan are set to meet Iran's leaders in Tehran on Monday in their first high-level contact since attacks by the Iran-backed Houthis joined the regional conflict by launching attacks on Saudi Arabia.

"Concerns over renewed military hostilities in the Middle East, which drove much of last ⁠week’s crude rally, have eased this morning, but the reprieve may ‌prove temporary," said Vandana Hari, founder of oil market ‌analysis provider Vanda Insights.

Hari said US President Donald Trump has not dispelled market expectations that strikes ‌on Iran could still follow after the November 3 midterm elections.

"We therefore expect volatility ‌to remain elevated, with risks still skewed to the upside," she added.

The effects of the US-Israeli war on Iran that began on February 28 continue to reverberate as companies adjust to the disruptions ⁠of commercial shipping ⁠through the key Strait of Hormuz and Bab el-Mandeb Strait caused by the conflict.

On Monday, the energy ministers from Saudi Arabia and Singapore said state-owned oil company Saudi Aramco will start storing crude oil in Singapore from the second half of 2027.

"While supply risks surrounding the Strait of Hormuz remain firmly entrenched, the current pullback appears more reflective of position adjustments and risk management rather than any meaningful improvement in the underlying supply situation," said Priyanka Sachdeva, head of market insight at Phillip Nova.

The head of the International Energy Agency, Fatih Birol, reinforced the concerns about the supply situation, saying on Monday at an industry event in Singapore that he does not expect energy markets in 2027 to return to where they were before the Iran war.