Latest news with #SaudiGazette
Saudi Gazette
17 hours ago
- Business
- Saudi Gazette
Saudi bank credit records annual growth of over SR443 billion by end of April 2025
Saudi Gazette report RIYADH — Bank credit granted to the public and private sectors in Saudi Arabia reached SR3,126,381 million (over SR3.126 trillion) by the end of April 2025, according to the monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for April. This marks an annual growth of 16.5 percent and an increase of more than SR443.018 billion compared to the same period in 2024, when bank credit stood at SR2.683 trillion. Quarterly, bank credit continued to rise at all levels, recording a growth of five percent compared to the fourth quarter of 2024, increasing by SR146.411 billion. By the end of the first quarter of 2025, bank credit had grown from over SR2.955 trillion to over SR3.101 trillion. On a monthly basis, bank credit recorded a growth of 0.8 percent, rising by SR24.420 billion, compared to March 2025, when it stood at SR3,101,961 million. Bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities, serving as a key driver in achieving comprehensive and sustainable economic growth and contributing to the goals of Saudi Vision 2030. According to SAMA data, long-term credit (for over three years) accounted for 49 percent of total bank credit, valued at over SR1.524 trillion. Short-term credit (less than one year) represented 36 percent, amounting to over SR1.135 trillion. Medium-term credit (from one to three years) comprised about 15 percent, totaling SR465.937 billion.
Saudi Gazette
17 hours ago
- Politics
- Saudi Gazette
Saudi attorney general and Russian counterpart discuss ways to enhance judicial cooperation
Saudi Gazette report SAINT PETERSBURG — Attorney General Sheikh Saud Al-Muajab met with Russian Federation Prosecutor General Igor Viktorovich Krasnov in St. Petersburg. The meeting was held on the sidelines of the St. Petersburg International Economic Forum. During the meeting, they discussed ways to enhance cooperation between the two public prosecution offices and exchange expertise in judicial fields, legal culture, and scientific output. The collaboration aims to develop prosecutorial practices and integrate efforts in combating crime and upholding justice. This visit extends the strong relations between the Public Prosecution in Saudi Arabia and its counterpart in the Russian Federation. It also embodies both sides' commitment to strengthening partnership and institutional integration in judicial matters, serving common interests, and solidifying the principles of justice and the rule of law. A memorandum of understanding signed between the two public prosecution offices in 2019 led to a cooperation program in 2023-2024, yielding positive and tangible results. The St. Petersburg International Economic Forum serves as a high-level platform for dialogue and exchanging insights on enhancing global cooperation and establishing shared values among nations and institutions.
Saudi Gazette
21 hours ago
- Entertainment
- Saudi Gazette
Ministry of Culture includes handicrafts and cultural media in 5th edition of its National Cultural Awards
Saudi Gazette report RIYADH — The Ministry of Culture has launched the fifth edition of the National Cultural Awards. For the 2025 edition, two new award categories have been introduced: the Handicrafts Award and the Cultural Media Award. Nominations for cultural sector awards will soon open to the public and the cultural community. The Handicrafts Award coincides with the ministry's designation of 2025 as the Year of Handicrafts, spotlighting impactful contributions to traditional crafts, whether in production techniques or cultural knowledge. This category includes one international award that honors initiatives that improve livelihoods and create job opportunities. The Cultural Media Award recognizes significant work by individuals or organizations in developing cultural discourse and showcasing the cultural sector through various media formats, including print, audio, and digital platforms. It also considers contributions such as literary reviews, cultural reporting, and consistent engagement with cultural events and movements. These additions join a distinguished set of existing awards: five major prizes reviewed by specialized committees, alongside 11 others across a total of 16 cultural sub-sectors. Together, they reflect the ministry's commitment to fostering creative talent and honoring cultural heritage. The National Cultural Awards reflect the ministry's commitment to supporting cultural production and honoring those enriching the Kingdom's artistic and creative heritage. The awards reaffirm the ministry's ongoing commitment to recognizing and honoring outstanding achievements in the Kingdom's cultural sector. Submissions for the awards will be accepted via the online platform: Following this, the evaluation and judging processes will begin, culminating in the announcement of winners at the final ceremony. According to the ministry, this annual initiative celebrates creative excellence and contributions across a wide range of cultural disciplines. Through a growing portfolio of awards, the program highlights both individual and institutional efforts that have helped shape and elevate the national cultural landscape.
Saudi Gazette
a day ago
- Automotive
- Saudi Gazette
AI-powered system to monitor emergency lane violations in real time
Saudi Gazette report JEDDAH — King Abdulaziz University has completed an innovative research project that uses AI to monitor violations of emergency lanes on highways in real time. The system uses the 'Raspberry Pi' device, which employs advanced computer vision techniques. The project utilizes the 'YOLO' algorithm to detect vehicles encroaching on designated emergency lanes, with the model trained on a customized dataset of images. It is a low-cost, highly efficient solution ideal for integration into smart city infrastructure, traffic management agencies, and government authorities. By supporting unobstructed emergency lanes, the project aims to improve response times during emergencies and ultimately save lives.
Saudi Gazette
a day ago
- Health
- Saudi Gazette
SFDA suspends medical device imports from erring international firm
Saudi Gazette report RIYADH — The Saudi Food and Drug Authority (SFDA) has suspended imports from an international medical device and supplies factory, as part of its ongoing regulatory efforts to verify the safety of products under its supervision circulating in the Saudi market. This import suspension decision followed an SFDA inspection tour that uncovered serious violations, according to a press statement from the authority on Thursday. These issues primarily centered on the factory's quality management system, manufacturing processes, factory work environment and deficiencies that could potentially lead to the contamination of medical devices. Violations related to quality management systems accounted for approximately 10 percent of all recorded violations at medical device factories in 2024. Meanwhile, violations concerning manufacturing processes and the work environment represented a significant 49 percent of the total. According to the statement, this action is one of several measures the SFDA takes when serious violations are found during inspections of facilities exporting medical devices to Saudi Arabia. The import suspension rate reached approximately 30 percent of all factories inspected in 2024. The factory is also registered with several international regulatory authorities, including the US Food and Drug Administration (FDA) and the European Union, and its products are marketed globally. This demonstrates the efficiency and precision of the SFDA's regulatory system, highlighting its strong capabilities in detecting significant violations and implementing necessary measures based on an inspection methodology that aligns with international best practices. The SFDA is committed to rigorous oversight of the imported medical device sector, ensuring that all products in circulation are safe and effective to protect public health and prevent the distribution of potentially harmful devices. It reaffirmed its dedication to implementing all necessary measures to uphold safety and quality standards in this vital sector.
