Attempts to smuggle cannabis through Saudi Arabia's southern border thwarted

46 people have been arrested in the southern border regions. (SPA)
Updated 12 September 2018
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Attempts to smuggle cannabis through Saudi Arabia's southern border thwarted

  • 46 people of different nationalities were arrested

JEDDAH: The border guards in the southern Saudi regions of Jazan, Najran and Asir have foiled numerous cannabis-smuggling attempts throughout last month.
Border guards spokesperson Col. Saher Al-Harbi said 46 people of different nationalities were arrested after crossing the Kingdom’s southern borders.
“The suspects, along with the drugs seized, will be referred to the competent authorities to carry on with the necessary procedures,” he said.
“The border guards are determined to protect the Kingdom’s borders from all those targeting its security, stability and capability. They are ready to thwart any smuggling and infiltration attempts and enforce the laws in the face of those who violate them,” Al-Harbi emphasized.


Financial Sector Conference kicks off Wednesday in Riyadh

Updated 1 min 9 sec ago
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Financial Sector Conference kicks off Wednesday in Riyadh

  • Thousands have signed up for the two-day event including ministers and top policy makers

Thousands of delegates are expected to attend a two-day finance event in Riyadh, which starts on Wednesday under the patronage of King Salman.

The Financial Sector Conference is being held by the Ministry of Finance and Saudi Arabian Monetary Authority (SAMA).

Organizers of the event at the Ritz-Carlton conference hall in Riyadh said informally that some 3,400 attendees had signed up for the two-day showcase of the Kingdom’s financial industry, and that more were registering at an impressive rate.

Delegates include ministers from the finance, economy and strategic ministries, as well as top policymakers from capital markets, investment and insurance industries.

It follows last year’s Future Investment Initiative (FII) and the National Industrial Development and Logistics Program events, held at the same venue.

The event will involve the presence of the Saudi Real Estate Refinance Company (SRC), which is seen as a key to providing more affordable housing in the Kingdom and boosting home  ownership by citizens.

SRC, a subsidiary of Saudi Arabia’s sovereign Public Investment Fund, aims to issue up to SR4 billion ($1.07 billion) of long-term sukuk — or Islamic bonds — this year, its chief executive said on Tuesday.

“Our strategy is clearly to tap the market twice this year,” Fabrice Susini said. “We are really looking at probably issuing something between ... 2 and 4 billion riyals that we may be issuing in two tranches.”