
25 Projects Open for Public Feedback on 'Istitlaa' Platform
Highlighted Projects: Ministry of Tourism: Amendment of the Violation Table for Tourism Consultation Activities—seeks to revise the penalties for hospitality establishments to align with updated regulations and industry standards. Open for feedback until June 8, 2025.
Ministry of Municipalities and Housing: Updates to Municipal Requirements for Transportation Service Centers in 2025—aims to improve the business environment in the transportation sector. Feedback period ends June 16, 2025.
Ministry of Environment, Water and Agriculture: Regulations for Issuing New Well Drilling Licenses on the Sedimentary Shelf—focuses on protecting and sustaining non-renewable groundwater for agricultural and livestock use. Consultation closes June 17, 2025.
Capital Market Authority: Regulatory Framework for Offshore Securities Business Licenses proposes new licensing regulations for offshore securities operations. Open for feedback until June 28, 2025.
Saudi Food and Drug Authority: Amendments to the General Food and Drug Authority Law and Food Law—aims to modernize regulations governing the licensing and oversight of food establishments. Consultation ends June 30, 2025.
These initiatives reflect the government's commitment to transparency and inclusive decision-making. Finally, Istitlaa strengthens civic engagement and supports a more responsive legislative environment.
Related Topics:
CST, Aramco Digital Launch AI-Powered Crowd Management Trial at Holy Sites
China Is Major Market for Saudi Aramco: CEO
Saudi Aramco Records $106bn Profits in 2024
Saudi Arabia to Launch NextGen Investment Forum to Cultivate Future Hospitality Leaders
Short link :
Post Views: 17 Related Stories
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arab News
2 days ago
- Arab News
Gulf bourses end mixed on US tariff uncertainty
LONDON: Stock markets in the Gulf ended mixed on Wednesday as investors monitored global trade developments ahead of the US' potential re-imposition of sweeping tariffs on July 9. President Donald Trump said on Tuesday he was not thinking of extending the July 9 deadline for countries to negotiate trade deals with the US, and continued to express doubt that an agreement could be reached with Japan. Saudi Arabia's benchmark index edged 0.1 percent higher, after two consecutive sessions of losses, helped by 1.7 percent rise in Saudi Arabian Mining Company. The cautious mood dominating the region contributed to mixed sector performances, said Joseph Dahrieh, managing principal at Tickmill. 'Investors are awaiting further developments to gain more clarity, while low oil prices continue to pose a risk, despite a positive economic outlook,' he said. Among gainers, oil giant Saudi Aramco rose 0.8 percent. Oil futures edged up as Iran suspended cooperation with the UN nuclear watchdog and markets weighed expectations of more supply from major producers next month, while the US dollar softened further. Dubai's main share index dropped 0.4 percent, hit by a 1.3 percent fall in toll operator Salik Company. Separately, Dubai commuters may soon have a new way to beat traffic, as Joby Aviation successfully completed the first test flight of its fully-electric air taxi in the emirate this week — a significant step toward the city's goal of integrating airborne transport into its mobility network as early as next year. In Abu Dhabi, the index eased 0.1 percent, while the Qatari index closed flat. A report on Tuesday suggested that the US labor market stayed resilient in May, sharpening the focus on US nonfarm payrolls figures due on Thursday as investors try to gauge when the Federal Reserve is likely to cut interest rates next. Fed Chair Jerome Powell on Tuesday reiterated the US central bank's plans to 'wait and learn more' before lowering rates. Outside the Gulf, Egypt's blue-chip index added 0.4 percent, with Talaat Moustafa Holding rising 0.9 percent.


Argaam
2 days ago
- Argaam
Arabian Drilling secures 4-rig contract extensions with Aramco for SAR 1.4B
Arabian Drilling Co. secures contract extensions for four of its rigs with Saudi Arabian Oil co. (Saudi Aramco) totaling a combined backlog value of SAR 1.37 billion with durations varying between one to 10 years. In a statement to Tadawul, the company said that this significant milestone elevates the company's current backlog to SAR 11.1 billion, expecting to realize the financial impact of extensions starting from Q3 2025. The renewal of these contracts is a key component of Arabian Drilling's efforts to extend the operational life of rigs scheduled to expire this year, which initially totaled 22 rigs on 31 March 2025. Following the prior announcement in May 2025, where Arabian Drilling extended contracts for two rigs, each for a period of 10 years, discussions continue regarding the renewal of the remaining rigs, the statement added. According to data available on Argaam, Arabian Drilling extended, in May, long-term contracts for two onshore drilling rigs with Saudi Aramco, valued at SAR 1.06 billion, with a duration of 10 years for each drilling rig.


Arab News
4 days ago
- Arab News
PIF assets rise 18% to $1.15tn as portfolio firms drive growth
RIYADH: Saudi Arabia's Public Investment Fund boosted its total assets to SR4.32 trillion ($1.15 trillion) by the end of 2024, an 18 percent increase compared to the previous year, according to a disclosure filed with the London Stock Exchange. The sovereign wealth fund reported gross revenues of SR413 billion for 2024, reflecting a 25 percent year-on-year rise. This growth was fueled by solid performance across several portfolio companies, including Savvy, Ma'aden, stc, Saudi National Bank, AviLease, and Gulf International Bank, as well as dividend income from Saudi Aramco. PIF, often described as the financial engine of Saudi Arabia, plays a central role in advancing the Kingdom's Vision 2030 goals to diversify the economy and reduce dependency on oil income. 'Long-term projects, that are beginning to mature, are also now generating significantly more revenue,' the disclosure document stated. Despite global macroeconomic challenges such as high interest rates, inflationary pressure, and select asset impairments, the fund reported a net profit of SR26 billion in 2024. The filing clarified that the impairments were 'primarily related to changes to operational plans and increases in budgeted costs and represent less than a 2 percent reduction in total assets.' PIF's cash reserves held steady at SR316 billion, while loans and borrowings rose modestly to SR570 billion, reflecting continued diversification of its funding sources via international capital markets. In 2024, the fund issued $2 billion in dollar-denominated sukuk and launched its first-ever sterling bond worth £650 million ($825.5 million). It also refinanced a $15 billion revolving credit facility, underlining market confidence in its creditworthiness and long-term investment outlook. PIF's debt ratio remained unchanged at 13 percent by the end of the year, the disclosure noted. 'Over 2024, PIF continued to advance its position as one of the world's most impactful investors, while driving economic transformation in Saudi Arabia,' the document added. It highlighted strategic progress in sectors such as leisure and tourism, industrial capabilities, capital markets, and the development of new industries. Among standout performers, AviLease recorded a 350 percent surge in net profit to SR228 million and a 306 percent rise in revenue to SR2.1 billion. The aircraft leasing company expanded its fleet to 189 aircraft, comprising 163 owned, 22 managed, and four on order. Meanwhile, Alat — another PIF-backed firm — invested SR401 million to establish an AI-driven robotics manufacturing facility in the Kingdom through a joint venture with SoftBank Robotics.