عربي English Türkçe اردو فارسى
Logo
Latest News
Gulf

Saudi Arabia, Pakistan Sign Financing Agreements on Oil Derivatives, Water Supply 

Officials are seen at the signing ceremony. (SPA)
Officials are seen at the signing ceremony. (SPA)
TT
TT

Saudi Arabia, Pakistan Sign Financing Agreements on Oil Derivatives, Water Supply 

Officials are seen at the signing ceremony. (SPA)
Officials are seen at the signing ceremony. (SPA)

Saudi Fund for Development (SFD) Chief Executive Sultan Al-Marshad and Pakistani Secretary for Ministry of Economic Affairs Dr. Kazim Niaz signed in Islamabad a US$1.2 billion financing agreement for the import of oil derivatives.

Pakistani Prime Minister Muhammad Shehbaz Sharif and Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki witnessed the signing of the agreement.

The funding is part of Saudi Arabia's ongoing support to Pakistan through the SFD, which has totaled around US$6.7 billion for oil derivatives since 2019.

The Kingdom's support is aimed at boosting Pakistan’s economy, addressing its economic challenges, and bolstering vital sectors, reported the Saudi Press Agency on Monday.

Additionally, both parties signed a development soft loan agreement worth US$41 million to finance a project that will supply drinking water to the Pakistani city of Mansehra.

The initiative will involve supplying about 400 kilometers of pipes for water networks, benefiting over 150,000 people. It also includes the establishment of a water treatment plant with a capacity of about 21,000 cubic meters per day, helping in reducing waterborne diseases and epidemics in Pakistan.

The two agreements reflect the SFD's commitment to addressing challenges in various countries and underscore the importance of international cooperation and solidarity for achieving sustainable development in beneficiary nations.

During the signing ceremony, the Pakistani prime minister and the SFD chief discussed ways to bolster cooperation between their countries, focusing on financing vital sectors across Pakistan.

Most Viewed

 
 
Gulf

Saudi Arabia Stresses its Keenness on Lebanon's Internal Stability

Advisor to the Saudi Foreign Minister Prince Yazid bin Farhan. (NNA)
Advisor to the Saudi Foreign Minister Prince Yazid bin Farhan. (NNA)
TT
TT

Saudi Arabia Stresses its Keenness on Lebanon's Internal Stability

Advisor to the Saudi Foreign Minister Prince Yazid bin Farhan. (NNA)
Advisor to the Saudi Foreign Minister Prince Yazid bin Farhan. (NNA)

Advisor to the Saudi Foreign Minister Prince Yazid bin Farhan renewed on Friday the Kingdom’s keenness on Lebanon’s internal stability, and commitment to the Taif Accords.

The Kingdom will exert all possible diplomatic efforts to save Lebanon and its people, he was quoted as saying by Lebanese MPs who met him in Beirut.

MP Fouad Makhzoumi wrote on X that he had a “fruitful” meeting with Prince Yazid bin Farhan that was attended by Saudi Ambassador to Lebanon Waleed al-Bukhari.

“We expressed our deep gratitude to Saudi Arabia, in cooperation with the United States, on their significant role in supporting Lebanon’s stability and efforts to restore calm and end hostilities,” he added in reference to the ceasefire between Israel and Hezbollah.

He hailed Saudi Arabia’s support for Lebanon’s sovereignty and the need to limit the possession of weapons to the state’s legitimate authorities.

The members of the National Moderation bloc also met with Prince Yazid bin Farhan, saying that talks focused on the situation in Lebanon and the region, especially the US-led negotiations between Beirut and Tel Aviv.

A statement from the bloc, said the Saudi envoy expressed the Kingdom’s keenness on Lebanon’s internal stability and commitment to the Taif Accords.

He urged the need to steer clear of rhetoric that would fuel internal divisions or harm civil peace.

The bloc is comprised of MPs Mohammed Suleiman, Ahmed al-Kheir, Sajih Attieh, Abdulaziz al-Samad and its Secretary Hadi Hbeish.

The National Consensus bloc of MP Faisal Karami also met with the Saudi envoy for talks on the latest local and regional developments.

Gulf

Qatar Emir, Trump Discuss Washington-Tehran Ceasefire

Qatar's Emir Sheikh Tamim bin Hamad Al Thani and US President Donald Trump. (QNA)
Qatar's Emir Sheikh Tamim bin Hamad Al Thani and US President Donald Trump. (QNA)
TT
TT

Qatar Emir, Trump Discuss Washington-Tehran Ceasefire

Qatar's Emir Sheikh Tamim bin Hamad Al Thani and US President Donald Trump. (QNA)
Qatar's Emir Sheikh Tamim bin Hamad Al Thani and US President Donald Trump. (QNA)

Qatar's Emir Sheikh Tamim bin Hamad Al Thani discussed developments ‌in ‌the Washington-Tehran ceasefire ‌agreement ⁠in a phone call ⁠with US President Donald Trump, ⁠Qatari state ‌news ‌agency reported ‌on ‌Friday.

He added that Qatar would ‌continue coordinating with partners to ⁠support ⁠mediation efforts led by Pakistan to achieve regional security and stability.

Sheikh Tamim stressed the need for easing tensions and supporting peaceful solutions.

Gulf

Saudi Arabia Condemns Drone Attacks on Kuwait Launched from Iraq

A view of Kuwait City, Kuwait. (KUNA)
A view of Kuwait City, Kuwait. (KUNA)
TT
TT

Saudi Arabia Condemns Drone Attacks on Kuwait Launched from Iraq

A view of Kuwait City, Kuwait. (KUNA)
A view of Kuwait City, Kuwait. (KUNA)

Saudi Arabia strongly condemned on Friday the drone attacks against Kuwait that were launched from Iraq.

A Foreign Ministry statement underlined the Kingdom’s “categorical rejection of the violation of the sovereignty of nations and attempts to threaten the security and stability of the region.”

It reiterated importance of the Iraqi government “acting responsibly towards those threats against the Gulf countries.”

Saudi Arabia expressed its solidarity with Kuwait’s government and people and support for all measures the country takes in protecting its sovereignty, stability and security.

Kuwait's army said two drones launched from Iraq ‌targeted two ‌northern border ‌posts ⁠on Friday, causing damage. ⁠It added there were no casualties.

Iraq's prime minister ⁠ordered an investigative ‌committee ‌to examine the ‌attack and ‌identify those responsible, Interior Minister Abdul Amir al-Shammari ‌said, adding Iraq condemned the attack ⁠in ⁠a call with his Kuwaiti counterpart.

Kuwait had on Wednesday summoned the Iraqi envoy to the country to protest attacks against it by Iraqi armed factions.

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi strongly condemned the “treacherous attacks” on Kuwait.

“The continuation of these brutal attacks from Iraq is a flagrant violation of the principles of good neighborliness and all international laws and norms,” he said.

He expressed the GCC's “full solidarity with Kuwait, affirming absolute support for all measures it takes to safeguard its sovereignty, security and stability.”

The Muslim World League (MWL) strongly condemned the drone attacks.

In a statement, Secretary-General and Chairman of the Organization of Muslim Scholars Sheikh Dr. Mohammed Al-Issa “reiterated condemnation of these criminal attacks, which violate the sovereignty of countries in the region and threaten their security and stability.”

He expressed his full solidarity with Kuwait, its leadership, government and people, in all measures taken to safeguard its security, sovereignty and the safety of citizens and residents.