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SEREDO 2024 Exhibition Opens in Jeddah

Photo by SPA
Photo by SPA
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SEREDO 2024 Exhibition Opens in Jeddah

Photo by SPA
Photo by SPA

The Deputy Minister of Municipal Rural Affairs and Housing, Talal bin Mohammed Al-Khunaini, inaugurated the activities of the second edition of the Saudi Real Estate Development and Ownership (SEREDO) 2024 at the Jeddah International Exhibition & Convention Center in Jeddah.

The four-day exhibition seeks to explore promising opportunities in the real estate development sector, exchange expertise, transfer best practices, and experiences among professionals in the field, and strengthen local and international partnerships. It serves as a platform that brings together leading real estate developers, providing an opportunity for companies to showcase their real estate products to specialists and interested individuals in the sector, and to foster new partnerships, SPA reported.
The event will hold discussions on real estate sector developments and analysis of modern market trends, the utilization of geospatial data and its impact on shaping new horizons in real estate, methods and strategies to professionalize real estate auctions, entrepreneurship and innovation in the real estate market, real estate funds, and negotiation techniques for real estate brokers. These sessions will feature the participation of officials, speakers, and specialists in the sector.

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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.