Driving licenses for women will boost economic growth in Saudi Arabia: Experts

Arab News
October 5, 2017

Riyadh, Oct 5: Introduction of driving licenses for women will steer economic growth and reduce dependence on foreign labor in the Kingdom, according to a panel discussion held at the Faisaliah Hotel in Riyadh on Tuesday to mark the opening of the new office of Fitch Ratings.

There are 1.3 million foreign house drivers earning salaries of SR33 billion ($8.8 billion) annually. Most women are dependent on these drivers for daily transport to their work places and for their shopping needs.

The discussions were moderated by Ian Linnell, president of Fitch Ratings, and supported by Tim Cooper, a global economist, and James McCormack, managing director and global head of the Sovereign and Suprarnatural Group at Fitch Ratings.

Empowerment of women is part of Vision 2030, which is a highly ambitious program designed to diversify the Kingdom’s revenue sectors and encourage developing non-oil products for necessary exports.

Linnell said the company’s Riyadh office is its second office in the Middle East after Dubai. “We got the license to operate in the Kingdom from the Capital Market Authority (CMA) to conduct credit rating activities in the Kingdom.

“We are delighted to be increasing our commitment in the region with an on-the-ground presence in the Kingdom,” Linnell said, adding that the company has had a solid footprint in the Kingdom for the past two decades covering Islamic finance. He also said that the company intends to hire local analysts to carry out its functions in the Kingdom.

With a leading global financial institutions franchise, Fitch Ratings has a leading market share in financial institutions in Saudi Arabia, Kuwait, Oman and Qatar.

Earlier in the day, there was a panel discussion on the “Saudi Arabian economy and the evolving debt capital markets in the Kingdom.” Besides Linnell, McCormack and Cooper, participants at the panel discussions included Fahad Al-Deweesh CEO J.P. Morgan Saudi Arabia; Khalid Al-Hussan, CEO Tadawul; Jadwa Chief Economist Fahd Al-Turki; and Ayman Al-Sayari, SAMA deputy governor for investment.

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News Network
June 1,2024

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Iran’s interim Foreign Minister Ali Bagheri Kani has called for an extraordinary meeting of the Organization of Islamic Cooperation (OIC) to discuss the situation in the Gaza Strip, and end the Israeli genocide. 

“During a telephone conversation with Ahmed Attaf, the Minister of Foreign Affairs of Algeria, I talked about the latest developments in the Gaza war, the Zionist regime’s crimes in Gaza and Rafah, as well as mutual cooperation between Iran and Algeria,"  Bagheri Kani wrote in a post published on the social media platform X on Friday.

“While thanking the Algerian President [Abdelmadjid Tebboune], Minister of Foreign Affairs and other Algerian officials for their kind messages over the martyrdom of [late Iranian President] Ayatollah [Ebrahim] Raeisi and [late Foreign Minister Hossein] Amir-Abdollahian, I supported the efforts and initiatives of the Algerian government at the behest of Muslim countries in presenting a draft resolution to stop the Zionist regime’s assaults,” he added.

Bagheri Kani also underlined the need for an urgent and joint action by Muslim states to stop Israeli crimes against Palestinians, and step up delivery of humanitarian aid to Gaza.

“Accordingly, I called for an extraordinary meeting of the Organization of Islamic Cooperation, and the proposal was welcomed,” he said. 

Israel launched its onslaught against the Gaza Strip, targeting hospitals, residences, and houses of worship after Palestinian fighters launched a surprise attack, dubbed Operation al-Aqsa Storm, against the regime on October 7.

Nearly 36,300 Palestinians have been killed, most of them women and children. More than 1.7 million people have been internally displaced during the war as well.

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News Network
June 13,2024

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Kuwaiti authorities have identified the bodies of 45 Indians and three Filipino nationals killed in the tragic fire incident in a building housing foreign workers in the Gulf Kingdom, a top official said on Thursday. Sheikh Fahad Al-Yousuf Al-Sabah was quoted as saying by Arab Times that efforts are still underway to determine the identity of one remaining body.

According to the Department of Non-Resident Keralites Affairs of State of Kerala, the number of people from Kerala who died in the Kuwait fire tragedy has risen to 24. 

The blaze, which started in the kitchen, erupted around 4 am on Wednesday while most of the 195 migrant workers were asleep. The fire incident in southern Kuwait’s Mangaf area claimed 49 lives and injured 50 others.

Meanwhile, an Indian Air Force aircraft is on standby to bring back the mortal remains of Indians killed in the incident. Kuwait’s Foreign Minister Abdullah Ali Al-Yahya assured full support to the Indians affected in the fire and vowed to promptly investigate the tragedy, hours after meeting Minister of State for External Affairs Kirti Vardhan Singh.

Kerala govt to provide Rs 5 lakh

The Kerala government said it will provide Rs 5 lakh financial assistance to the families of the people from the state who died in the Kuwait fire tragedy that claimed 49 lives and left 50 others injured.
The decision was taken at an emergency Cabinet meeting chaired by Chief Minister Pinarayi Vijayan in the morning, a statement issued by his office said. The cabinet also decided to provide Rs 1 lakh financial assistance to those injured in the incident, it said.
The statement also said prominent businessmen M A Yusuff Ali and Ravi Pillai have informed the CM that they will provide Rs 5 lakh and Rs 2 lakh, respectively, to each of the families of the Keralites who died in the fire.

Probe ordered

Emir of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah has ordered a probe into the fire incident at the apartment building, which housed foreign workers with mostly Indians. At least 49 people have died, and the Emir has instructed the officials to investigate the cause of the fire and hold those responsible in the incident as accountable for it.

PM holds meeting

Prime Minister Narendra Modi described the fire incident as "saddening" and held a meeting with external affairs minister S Jaishankar, NSA Ajit Doval, Foreign Secretary Vinay Kwatra, and Principal Secretary to the PM PK Mishra to review the situation. 

The fire in the Al-Mangaf building was reported to authorities in Al-Ahmadi governorate at 4:30 am yesterday, with most of the deaths attributed to smoke inhalation. Kuwaiti media reported that the fire started in a kitchen. Kuwait's interior ministry confirmed that the death toll had reached 49.

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News Network
June 12,2024

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In a remarkable event, the 130-year-old Algerian woman received a warm reception as Saudi officials welcomed her upon her arrival in the Kingdom of Saudi Arabia.

A woman named Sarhouda Setit made the journey to the Kingdom of Saudi Arabia (KSA) to participate in the annual Hajj 2024 (1445 AH). Before embarking on her journey, Setit underwent the necessary preparations to assume the state of Ihram.

Saudi Airlines celebrated her arrival as she was the oldest pilgrim to the Kingdom. The Saudi group published on its official handle on X about the arrival of the oldest pilgrim from Algeria.

Her determination to the Haj despite her age garnered significant attention from people around the world.

This year, many groups in the Kingdom of Saudi Arabia from all over the world have arrived in KSA to perform one of the five pillars of Islam.

Saudi authorities are preparing to host more than 1.5 million pilgrims who will undertake their Hajj pilgrimage this week. It is expected that the numbers will increase during the coming period.

For Muslims across the globe, Hajj is the annual pilgrimage to Makkah holy city where scared Kabba is located.

Once in life, Hajj is a mandatory religious duty for Muslims, and it is considered one of the five pillars of Islam. The necessity of Hajj for Muslims is rooted in several key aspects.

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