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NEW YORK, Sept 23, 2018 (MENA) - Egyptian President Abdel Fattah El Sisi sent a cable Sunday to Saudi King Salman bin Abdulaziz Al-Saud to greet him on the occasion of the Kingdom's National Day.

In his cable, Sisi wished prosperity and progress to the Saudi people and leadership, presidential spokesman Bassam rady said.

He also lauded Egyptian-Saudi relations in all fields.

 

CAIRO, Sept 23, 2018 (MENA) - Al Azhar Grand Imam Sheikh Ahmed el Tayyeb hailed the profound relationship between Al Azhar and Saudi Arabia.

Tayyeb greeted Saudi King Salman bin Abdulaziz al Saud and the Saudi government and people on the occasion of the kingdom's 88th national day, said a statement issued by Al Azhar on Sunday.

Al Azhar expressed appreciation to the role played by the kingdom in serving Islam and Muslims, the statement read.

DUBAI, September 18, 2018 (News Wires) --  Archaeologists in Saudi Arabia have uncovered a 100,000-year-old site in the mountain range south of Riyadh dating back to the Paleolithic period.

The joint Saudi-French mission was carried out at archaeological sites under the supervision of the Saudi Commission for Tourism and National Heritage, which included field surveys at the hills surrounding the Al Kharj Mountains, part of the hills overlooking the Mawan valley, Ein Farzane and the hills overlooking the town of Al Shadidah.

This is the first time that sites from the Paleolithic period were discovered in Al Kharj as well as sites that originated from the Upper Paleolithic period, according to the Saudi Press Agency (SPA).

The Paleolithic period was also known as the Stone Age that ranged from 2 million to 10,000 years ago, while the Upper Paleolithic period began about 40,000 years ago.

The mission included 18 members of the Saudi and French scientists and specialists in the field of archaeological excavations.

The joint Saudi-French mission was carried out within the framework of an agreement signed between the two parties on September 21, 2011, to explore the archaeological sites at the Al Kharj governorate in Riyadh.

Prince Sultan Bin Salman, president of the tourism commission, appreciated the efforts of the mission and stressed the importance on preparing the site to receive visitors.

DUBAI, Sept 16, 2018 (News Wires) - Leaders from Ethiopia and Eritrea signed a "peace agreement" on Sunday during a summit in Saudi Arabia, yet another sign of warming ties between two nations that have face decades of war and unease.

Terms of the agreement signed by Ethiopian Prime Minister Abiy Ahmed and Eritrean President Isaias Afwerki weren't immediately clear.

 Saudi authorities did not respond to specific questions about the accord, which earlier had been described as being a further endorsement of a historic deal reached between the two nations in July.

"The peace deal resulted in restoration of normal relations between the countries, on the basis of the close bonds of geography, history and culture between the two nations and their peoples," Saudi Arabia said in a statement Sunday, calling the accord the "Jiddah Agreement."

"The kingdom of Saudi Arabia praised the leaders of Ethiopia and Eritrea for exercising leadership and courage to restore the brotherly relations between the two countries, thus forming the foundation for a new phase that will bring significant developments in the relations between the two nations in all fields," the statement added.

Saudi King Salman and his 33-year-old son, Crown Prince Mohammed bin Salman, were on hand for the summit in the Red Sea port city of Jiddah.

Also attending was Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan and United Nations Secretary-General Antonio Guterres.

The Ethiopian and Eritrean leaders also were awarded for their efforts the Order of Abdulaziz Al Saud Medal, the kingdom's highest civilian honor.

Abiy and Isaias signed a "Joint Declaration of Peace and Friendship" on July 9, ending 20 years of enmity and formally restoring diplomatic relations between Ethiopia and Eritrea.

DUBAI, Sept 16, 2018 (News Wires) - Gulf stocks were mostly lower on Sunday morning, with Saudi Arabia under pressure after closing at a six-month low in the previous session and Dubai hit by continued selling in contractor Drake; Scull International.

Declines in key blue-chip stocks pushed down the Saudi market by 0.2 percent in early trade.

Shares of top petrochemical firm Saudi Basic Industries were down 0.3 percent and refining firm Petro Rabigh fell 0.9 percent.

Banks were also weak.

JPMorgan said in its weekly report on Middle East and North Africa that recent earnings data in Gulf countries had generally been positive, but emerging market volatility continued to weigh on regional markets.

Saudi Real Estate, however, was up 5 percent after its unit Al Widyan Co awarded a 1.1 billion riyals ($293 million) contract to a company to develop key infrastructure on a site in the northern growth corridor of Riyadh.

The Dubai index was down 0.4 percent, hurt by continued weakness in DSI, which fell 3.7 percent and hit a record low 0.376 dirhams ($0.1024) in early trading.

DSI stock plunged 10 percent on Wednesday after the company said shareholders would meet Sept. 27 to decide whether to dissolve it, under an article of United Arab Emirates company law requiring firms to vote on whether they should continue operating if their accumulated losses have reached half of issued share capital.

Even a supporting statement from key shareholder Tabarak failed to lift sentiment.

Tabarak Investment, DSI's biggest shareholder with 13.73 percent, told Reuters in statement at the weekend it was committed to restoring DSI to financial health, and had arranged for the company to obtain over 1 billion dirhams of projects.

Dubai's top stock, Emaar Properties, was also down 1.2 percent in early trade.

The Abu Dhabi index was up 0.6 percent, supported by Abu Dhabi National Energy which was trading 4.4 percent higher, while market heavyweight First Abu Dhabi Bank also gained 0.8 percent.

In Qatar, the index dropped 0.7 percent, easing from a 16-month high in the previous session, as blue-chip stocks traded lower. Industries Qatar dropped 0.9 percent and Masraf Al Rayan fell 0.3 percent.

Kuwaiti stocks continued to outperform Gulf markets ahead of the first part of their inclusion into the FTSE Russell emerging market index on Sept. 24. The premier index was up 0.4 percent in early trade, taking year-to-date gains of 11.6 percent.

($1 = 3.7506 riyals)
($1 = 3.6730 UAE dirham

RIYADH, Sept 16, 2018 (News Wires) - Saudi Arabia's economy can achieve an International Monetary Fund forecast for 1.9 percent gross domestic product growth this year if all indicators remain unchanged, central bank governor Ahmed al-Kholifey told a news conference on Sunday.

After annual consultations with the Saudi government last month, the IMF predicted Saudi Arabia's gross domestic product would grow 1.9 percent in 2018 partly because of higher oil output, after shrinking 0.9 percent last year.

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