Latest from Argaam
Argaam
an hour ago
- General
- Argaam
KSA approves rules for public utility facilities
Deputy Minister of Environment, Water and Agriculture for Agriculture, Hamad Al-Khamshi, approved the guidelines for establishments located at public utility markets for vegetables, fruits, meat, eggs, and fish. The guidelines shall be enforced as of the date of publication, and all relevant parties shall be notified for implementation. The guidelines supersede any previous conflicting regulations, according to Umm Al-Qura official newspaper. Under the guidelines, establishments are required to have air or plastic curtains on external entrance doors, as well as natural or artificial lighting (or both) at the premises. Artificial lighting should not alter the appearance of colors, and its intensity must suit the nature of operations. Light fixtures must be shatter-resistant or protected by covers in areas where they are directly exposed to food, equipment, utensils, or unsealed packaging materials.
Argaam
3 hours ago
- Argaam
Saudi Arabia records 1,300 daily flights amid recent tensions
Saudi Arabia kept its airspace open to maintain smooth air traffic amid the recent regional tensions. The Kingdom mobilized all human and material resources as well as necessary preparations to accommodate the increase in transit flights. The state recorded an average of more than 1,330 daily flights, leaping 95% compared to pre-crisis levels, according to the SPA. The flights were managed safely and efficiently within Saudi airspace, supported by advanced technical systems and stringent security measures that ensured compliance with the International Civil Aviation Organization (ICAO) standards for air traffic facilitation. During the period of heightened tension, the General Authority of Civil Aviation (GACA) exerted efforts to open additional air routes to absorb the significant pressure on Saudi airspace. The capacity of the airspace was expanded, and flight times were reduced, using advanced navigation procedures that ensure the protection of the Kingdom's airspace and the safety of its air traffic. More than 220 air carriers passed through Saudi airspace during this period, prompting the activation of pre-prepared airspace expansion measures. Rigorous security protocols were also enforced in airports and throughout the airspace, while advanced capabilities of air-traffic surveillance systems and relevant technical infrastructure were utilized. Furthermore, predefined risk management plans were activated, enhancing the speed of crisis response and ensuring continued air navigation under the highest safety standards.
Argaam
20 hours ago
- Business
- Argaam
Fed's preferred inflation gauge rises to 2.7% in May
The latest reading of the Federal Reserve's preferred inflation gauge showed price increases accelerated in May. The core Personal Consumption Expenditures (PCE) price index — the Federal Reserve's preferred inflation gauge — rose by 2.7% year-on-year in May, compared to a 2.5% increase in April, above expectations of a 2.6% rise, official data released on Friday showed. The headline PCE index — which includes volatile food and energy components — increased by 2.3% year-on-year last month, following a 2.1% rise in April, in line with forecasts. On a monthly basis, the core PCE index rose by 0.2%, while the headline index edged up by 0.1%, according to the data. The report also showed that personal consumption expenditures fell by $27.6 billion last month, with personal savings reaching around $1.01 trillion. The data reflects a $19.9 billion decline in spending on services and a $49.2 billion drop in spending on goods.
Argaam
a day ago
- Business
- Argaam
Q2 performance outlook for Saudi firms: What to expect?
The Saudi-listed companies will disclose their Q2 2025 financial results on July 1 and will continue until August 11. Investors and market participants are eagerly awaiting the start of earnings releases, expected to begin next week.
Argaam
a day ago
- Business
- Argaam
China confirms trade deal with US
China confirmed today, June 27, details of a trade deal with the US, after reaching the London framework earlier this month, the Chinese Ministry of Foreign Affairs said in a statement. Washington would lift "restrictive measures" while Beijing will "review and approve" items under export controls, AFP reported, citing the statement. "It is hoped that the United States and China will meet each other halfway," a spokesperson for the commerce ministry said in a statement.
