Saudi Arabia Joins the Largest Arab Union of Iron Producers

Saudi Arabia’s Ministry of Human Resources and Social Development announced that it will issue a ban on working under the sun between noon and 3:00 p.m. from Wednesday (Shutterstock)
Saudi Arabia’s Ministry of Human Resources and Social Development announced that it will issue a ban on working under the sun between noon and 3:00 p.m. from Wednesday (Shutterstock)
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Saudi Arabia Joins the Largest Arab Union of Iron Producers

Saudi Arabia’s Ministry of Human Resources and Social Development announced that it will issue a ban on working under the sun between noon and 3:00 p.m. from Wednesday (Shutterstock)
Saudi Arabia’s Ministry of Human Resources and Social Development announced that it will issue a ban on working under the sun between noon and 3:00 p.m. from Wednesday (Shutterstock)

The National Committee for Steel Industry in the Council of Saudi Chambers has joined the largest Arab gathering of iron producers, the Saudi Press Agency reported.

Joining the Arab Iron & Steel Union enhances the Kingdom’s position in the sector, SPA reported, citing a statement from the committee.

Based in Algeria, the union is among the bodies approved by the League of Arab States and works to achieve Arab integration in the field of steel and iron industry.

Raed Al-Ajaji, Chairman of the National Committee for Steel Industry in the Council of Saudi Chambers, said that joining Arab Iron and Steel Union is a qualitative achievement.

According to al-Ajaji, iron and steel represent some of the most important strategic economic sectors, the backbone of the construction and development process in the Kingdom, and an essential element in the discussions and agenda of the G20 summit meetings.

Al-Ajaji explained that the membership would give access to the Arab database related to the steel industry, related reports, studies, and statistics.

Moreover, it influences the performance and trends of the steel sector in the region by allowing participation in market development programs and initiatives, communicating with experts, specialists, and industry giants, and joining work teams and expert committees in the field.

Al-Ajaji stressed the Committee's support for the efforts and activities of the Arab Iron and Steel Union, especially in terms of achieving economic integration, developing the steel industry in the region, and enhancing its competitiveness against foreign counterparts.

In other news, Saudi Arabia’s Ministry of Human Resources and Social Development announced that it will issue a ban on working under the sun between noon and 3:00 p.m. starting Wednesday.

The decision will go into effect on June 15 and continue until September 15, to safeguard the health and safety of workers during the hot summer months.

The ministry called on employers to outline working hours and implement the decision to limit injuries and diseases, and to also improve the productivity of employees.

Employees and employers can find more information on the procedures for worker health and vocational safety on the ministry’s website.



Saudi Economic and Development Affairs Council Discusses Report on Performance of State Budget

File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Economic and Development Affairs Council. Asharq Al-Awsat
File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Economic and Development Affairs Council. Asharq Al-Awsat
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Saudi Economic and Development Affairs Council Discusses Report on Performance of State Budget

File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Economic and Development Affairs Council. Asharq Al-Awsat
File photo: Saudi Crown Prince Mohammed bin Salman bin Abdulaziz chairs a meeting of the Economic and Development Affairs Council. Asharq Al-Awsat

Saudi Arabia’s Economic and Development Affairs Council has held a meeting via videoconference, discussing several issues, including the performance of the state budget, the Saudi Press Agency reported Saturday.
At the beginning, the council reviewed the quarterly economic report of the Ministry of Economy and Planning, which includes an analysis of key global economic developments, and the national economic progress. The Kingdom saw positive economic growth of 2.8% in the third quarter, SPA said.
The report addresses future national economic forecasts issued by relevant government entities, international funds, and agencies, as well as proposed insights and recommendations to address global economic challenges.
The council also reviewed the third-quarter report submitted by the Ministry of Finance, on the performance of the state budget for fiscal year 2024. The report includes a detailed overview of financial performance up to the end of the third quarter, covering revenue, expenditure, and public debt indicators.
It highlighted results reaffirming the Kingdom's continued support for development projects, strengthening social care and protection systems, and advancing the implementation of major projects and programs under Saudi Vision 2030.
This underscores the effectiveness of structural economic reforms, efforts in economic diversification, and the systematic approach aligned with the Saudi Vision 2030.
The council also reviewed the report of Ministry of Commerce presentation, regarding the report of Standing Committee for Price Monitoring for the third quarter of 2024.
The report addresses the roles of the entities participating in the committee, key insights during the specified period, global price trends, an overview of consumption patterns, price and inflation indicators in the Kingdom, and details regarding consumer goods prices in the third quarter. Moreover, it outlines the measures taken to ensure the availability of goods and strengthen stockpiles to maintain price stability.
The council made the necessary decisions and recommendations.