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Reform Package to Facilitate Access to Saudi Markets

Saudi Trade and Investment Minister Majid al-Qasabi speaking at the Retail Leaders Circle (RLC) MENA Summit (Invest Saudi)
Saudi Trade and Investment Minister Majid al-Qasabi speaking at the Retail Leaders Circle (RLC) MENA Summit (Invest Saudi)
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Reform Package to Facilitate Access to Saudi Markets

Saudi Trade and Investment Minister Majid al-Qasabi speaking at the Retail Leaders Circle (RLC) MENA Summit (Invest Saudi)
Saudi Trade and Investment Minister Majid al-Qasabi speaking at the Retail Leaders Circle (RLC) MENA Summit (Invest Saudi)

E-commerce has grown significantly in Saudi Arabia over the recent years, announced Saudi Trade and Investment Minister Majid al-Qasabi during an international gathering in Riyadh.

Officials asserted the need to shift towards e-commerce and keep up with the rapid progress in trading and marketing mechanisms, while stressing the importance of combating e-fraud.

“E-commerce in the Kingdom has grown significantly – we have more than SR80 billion ($21.3 million) in services and products and 45,000 shops and e-commerce platforms,” announced Qasabi.

The Minister was speaking at the Retail Leaders Circle (RLC) MENA Summit which kicked off in Riyadh on Monday, in partnership with “Invest Saudi”.

He said Saudi Arabia enjoyed a unique blend of promising opportunities in the mining, tourism, entertainment, sports, and other sectors which made the Kingdom an ideal destination for global investment.

“As we begin to focus on the Kingdom's value proposition, we have a unique blend of opportunities that make Saudi Arabia a destination for investment.”

Customs Governor Ahmed al-Haqbani revealed that Saudi Arabia jumped 72 global centers in the “trading across borders” index within one year, according to the Doing Business 2020 report issued by the World Bank.

He noted that the retail sector is promising with many opportunities to transfer investments to Saudi Arabia, ensuring the ability to provide better and faster customer services.

The sixth session of RLC summit will discuss the ‘Past, Present, and Future of Retail: Strategies to Win in the Rapidly Changing Retail Landscape.”

The two-day summit includes sessions, workshops, and strategic dialogues with the participation of experts, officials, businessmen, investors, and workers in the sector from around the world.

The summit will bring together more than 1,500 retail leaders, brand owners, SMEs, industry stakeholders policy-makers and investors.

It will organize talks and workshops that address the changing environment of retail and consumption in the Kingdom and the region.

It aims to shed light on Saudi Arabia’s plans to become a pioneer in business, investment, and retail in line with its Vision 2030 goals.

The Kingdom’s hosting of the event coincides with Saudi Arabia taking over the G20 presidency.

The partnership between Invest Saudi and RLC is part of efforts by the Saudi Arabian General Investment Authority to attract key world and regional events that bring together business pioneers and decision-makers.

Significantly, Saudi Arabia ranked seventh in retail trade according to the 2019 Global Retail Development Index.

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Arab World

Rescue Teams Search for Survivors in Building Collapse that Killed at Least 2 in Northern Lebanon

A Lebanese flag is pictured, in the aftermath of a massive explosion, in Beirut's damaged port area, Lebanon August 17, 2020. REUTERS/Hannah McKay
A Lebanese flag is pictured, in the aftermath of a massive explosion, in Beirut's damaged port area, Lebanon August 17, 2020. REUTERS/Hannah McKay
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Rescue Teams Search for Survivors in Building Collapse that Killed at Least 2 in Northern Lebanon

A Lebanese flag is pictured, in the aftermath of a massive explosion, in Beirut's damaged port area, Lebanon August 17, 2020. REUTERS/Hannah McKay
A Lebanese flag is pictured, in the aftermath of a massive explosion, in Beirut's damaged port area, Lebanon August 17, 2020. REUTERS/Hannah McKay

At least two people were killed and four rescued from the rubble of a multistory apartment building that collapsed Sunday in the city of Tripoli in northern Lebanon, state media reported.

Rescue teams were continuing to dig through the rubble. It was not immediately clear how many people were in the building when it fell.

The bodies pulled out were of a child and a woman, the state-run National News Agency reported.

Dozens of people crowded around the site of the crater left by the collapsed building, with some shooting in the air.

The building was in the neighborhood of Bab Tabbaneh, one of the poorest areas in Lebanon’s second largest city, where residents have long complained of government neglect and shoddy infrastructure. Building collapses are not uncommon in Tripoli due to poor building standards, according to The AP news.

Lebanon’s Health Ministry announced that those injured in the collapse would receive treatment at the state’s expense.

The national syndicate for property owners in a statement called the collapse the result of “blatant negligence and shortcomings of the Lebanese state toward the safety of citizens and their housing security,” and said it is “not an isolated incident.”

The syndicate called for the government to launch a comprehensive national survey of buildings at risk of collapse.

Arab World

Israel to Take More West Bank Powers and Relax Settler Land Buys

A view of Israeli settlement of Maale Adumim, in the West Bank, Sunday, June 18, 2023. (AP)
A view of Israeli settlement of Maale Adumim, in the West Bank, Sunday, June 18, 2023. (AP)
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Israel to Take More West Bank Powers and Relax Settler Land Buys

A view of Israeli settlement of Maale Adumim, in the West Bank, Sunday, June 18, 2023. (AP)
A view of Israeli settlement of Maale Adumim, in the West Bank, Sunday, June 18, 2023. (AP)

Israel's security cabinet approved a series of steps on Sunday that would make it easier for settlers in the occupied West Bank to buy land while granting Israeli authorities more enforcement powers over Palestinians, Israeli media reported.

The West Bank is among the territories that the Palestinians seek for a future independent state. Much of it is under Israeli military control, with limited Palestinian self-rule in some areas run by the Western-backed Palestinian Authority (PA).

Citing statements by Finance Minister Bezalel Smotrich and Defense Minister Israel Katz, Israeli news sites Ynet and Haaretz said the measures included scrapping decades-old regulations that prevent Jewish private citizens buying land in the West Bank, The AP news reported.

They were also reported to include allowing Israeli authorities to administer some religious sites, and expand supervision and enforcement in areas under PA administration in matters of environmental hazards, water offences and damage to archaeological sites.

Palestinian President Mahmoud Abbas said the new measures were dangerous, illegal and tantamount to de-facto annexation.

The Israeli ministers did not immediately respond to requests for comment.

The new measures come three days before Prime Minister Benjamin Netanyahu is scheduled to meet in Washington with US President Donald Trump.

Trump has ruled out Israeli annexation of the West Bank but his administration has not sought to curb Israel's accelerated settlement building, which the Palestinians say denies them a potential state by eating away at its territory.

Netanyahu, who is facing an election later this year, deems the establishment of any Palestinian state a security threat.

His ruling coalition includes many pro-settler members who want Israel to annex the West Bank, land captured in the 1967 Middle East war to which Israel cites biblical and historical ties.

The United Nations' highest court said in a non-binding advisory opinion in 2024 that Israel's occupation of Palestinian territories and settlements there is illegal and should be ended as soon as possible. Israel disputes this view.

Arab World

Arab League Condemns Attack on Aid Convoys in Sudan

A general view shows the opening session of the meeting of Arab foreign ministers at the Arab League Headquarters (Reuters)
A general view shows the opening session of the meeting of Arab foreign ministers at the Arab League Headquarters (Reuters)
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Arab League Condemns Attack on Aid Convoys in Sudan

A general view shows the opening session of the meeting of Arab foreign ministers at the Arab League Headquarters (Reuters)
A general view shows the opening session of the meeting of Arab foreign ministers at the Arab League Headquarters (Reuters)

Arab League Secretary-General Ahmed Aboul Gheit strongly condemned the attack by the Rapid Support Forces on humanitarian aid convoys and relief workers in North Kordofan State, Sudan.

In a statement reported by SPA, secretary-general's spokesperson Jamal Rushdi quoted Aboul Gheit as saying the attack constitutes a war crime under international humanitarian law, which prohibits the deliberate targeting of civilians and depriving them of their means of survival.

Aboul Gheit stressed the need to hold those responsible accountable, end impunity, and ensure the full protection of civilians, humanitarian workers, and relief facilities in Sudan.