عربي English Türkçe اردو فارسى
Logo
Latest News
Business

King Salman Offers SR100 Mln to Joodeskan Platform

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
TT
TT

King Salman Offers SR100 Mln to Joodeskan Platform

Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz has provided SAR100 million to the Joodeskan platform, reported the Saudi Press Agency.

Joodeskan is under the supervision of the National Housing Development Association, which aims to support and help needy families in the housing sector.

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, made a contribution of SR50 million to the platform.

Most Viewed

 
 
Business

S&P Downgrades Israel’s Long-Term Ratings to 'A' amid Hezbollah Conflict

People take cover by the side of a road as a siren sound, after Iran fired a salvo of ballistic missiles at Israel, in Tel Aviv, Israel, October 1, 2024. (Reuters)
People take cover by the side of a road as a siren sound, after Iran fired a salvo of ballistic missiles at Israel, in Tel Aviv, Israel, October 1, 2024. (Reuters)
TT
TT

S&P Downgrades Israel’s Long-Term Ratings to 'A' amid Hezbollah Conflict

People take cover by the side of a road as a siren sound, after Iran fired a salvo of ballistic missiles at Israel, in Tel Aviv, Israel, October 1, 2024. (Reuters)
People take cover by the side of a road as a siren sound, after Iran fired a salvo of ballistic missiles at Israel, in Tel Aviv, Israel, October 1, 2024. (Reuters)

S&P Global downgraded Israel's long-term ratings to "A" from "A+" on Tuesday, citing risks to the country's economy and public finances from the escalating conflict with Iran-backed armed movement Hezbollah in Lebanon.

The rating agency highlighted concerns over potential security threats, including retaliatory rocket attacks against Israel, which could worsen the economic impact.

Peer Moody's cut the country's credit rating two notches to "Baa1" last week and warned of a drop to "junk" if the current heightened tensions with Hezbollah turned into a full-scale conflict.

"We now consider that military activity in Gaza and an upsurge in fighting across Israel's northern border - including a ground incursion into Lebanon - could persist into 2025, with risks of retaliation against Israel," S&P said.

S&P maintained Israel's outlook at "negative".