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Saudi Tourism Authority Participates in Qatar Int'l Exhibition for Tourism and Travel

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)
The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)
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Saudi Tourism Authority Participates in Qatar Int'l Exhibition for Tourism and Travel

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)
The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22, SPA said on Tuesday.
The step is an extension of STA’s regional and international participations aimed at enhancing the Kingdom's position on the global tourism map, highlighting tourist destinations, experiences, and products, along with showcasing investment opportunities and fostering connections with partners both within and outside the Kingdom.
The Saudi pavilion is set up on an area of 250 square meters, featuring platforms for product developers and service providers in the Kingdom's tourism sector.
It includes a dedicated space for service providers to guests of the Two Holy Mosques under the umbrella of "Nusuk," the unified platform for pilgrims to Makkah and Madinah. The pavilion is characterized by an authentic ambience that reflects the Kingdom’s rich culture.
Participating in the Saudi pavilion are more than 20 Saudi entities and companies, including developers of destinations and tourism projects such as NEOM, Cruise Saudi, and Red Sea Global. Additionally, there are organizers of trips and hotels, tourism and travel companies, national airlines, as well as companies specializing in Umrah, trip organization, and providing services to the guests of the Two Holy Mosques.
"The Saudi tourism sector has witnessed continuous growth in recent years, making it the fastest-growing tourist destination in the world. We have welcomed more than 16 million tourists in the first half of this year," said the CEO of Middle East and Africa Markets at the STA, Abdulkarim Yousef Al-Darwish.
The STA’s participation in this exhibition comes at a time when visiting the Kingdom has become easier than ever, with various visa options available.
These include the tourist visa, which also allows for performing Umrah, transit visa, and family visit visa, in addition to the availability of electronic visas for residents of Gulf Cooperation Council (GCC) countries, the United States, the United Kingdom, and European Union countries.
Moreover, visit visa holders from the United States, the United Kingdom, and Schengen countries, as well as citizens of 63 countries worldwide, can also easily visit the Kingdom.

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Russia's Central Bank Holds Off on Interest Rate Hike

People skate at an ice rink installed at the Red Square decorated for the New Year and Christmas festivities, with the St. Basil's Cathedral, left, and the Kremlin, right, in the background in Moscow, Russia, Friday, Dec. 20, 2024. (AP Photo/Alexander Zemlianichenko)
People skate at an ice rink installed at the Red Square decorated for the New Year and Christmas festivities, with the St. Basil's Cathedral, left, and the Kremlin, right, in the background in Moscow, Russia, Friday, Dec. 20, 2024. (AP Photo/Alexander Zemlianichenko)
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Russia's Central Bank Holds Off on Interest Rate Hike

People skate at an ice rink installed at the Red Square decorated for the New Year and Christmas festivities, with the St. Basil's Cathedral, left, and the Kremlin, right, in the background in Moscow, Russia, Friday, Dec. 20, 2024. (AP Photo/Alexander Zemlianichenko)
People skate at an ice rink installed at the Red Square decorated for the New Year and Christmas festivities, with the St. Basil's Cathedral, left, and the Kremlin, right, in the background in Moscow, Russia, Friday, Dec. 20, 2024. (AP Photo/Alexander Zemlianichenko)

Russia's central bank has left its benchmark interest rate at 21%, holding off on further increases as it struggles to snuff out inflation fueled by the government's spending on the war against Ukraine.
The decision comes amid criticism from influential business figures, including tycoons close to the Kremlin, that high rates are putting the brakes on business activity and the economy.
According to The Associated Press, the central bank said in a statement that credit conditions had tightened “more than envisaged” by the October rate hike that brought the benchmark to its current record level.
The bank said it would assess the need for any future increases at its next meeting and that inflation was expected to fall to an annual 4% next year from its current 9.5%
Factories are running three shifts making everything from vehicles to clothing for the military, while a labor shortage is driving up wages and fat enlistment bonuses are putting more rubles in people's bank accounts to spend. All that is driving up prices.
On top of that, the weakening Russian ruble raises the prices of imported goods like cars and consumer electronics from China, which has become Russia's biggest trade partner since Western sanctions disrupted economic relations with Europe and the US.
High rates can dampen inflation but also make it more expensive for businesses to get the credit they need to operate and invest.
Critics of the central bank rates and its Governor Elvira Nabiullina have included Sergei Chemezov, the head of state-controlled defense and technology conglomerate Rostec, and steel magnate Alexei Mordashov.
Russian President Vladimir Putin opened his annual news conference on Thursday by saying the economy is on track to grow by nearly 4% this year and that while inflation is “an alarming sign," wages have risen at the same rate and that "on the whole, this situation is stable and secure.”
He acknowledged there had been criticism of the central bank, saying that “some experts believe that the Central Bank could have been more effective and could have started using certain instruments earlier.”
Nabiullina said in November that while the economy is growing, “the rise in prices for the vast majority of goods and services shows that demand is outrunning the expansion of economic capacity and the economy’s potential.”
Russia's military spending is enabled by oil exports, which have shifted from Europe to new customers in India and China who aren't observing sanctions such as a $60 per barrel price cap on Russian oil sales.