King Salman announces $200 million grant to Yemen central bank

King Salman ordered the grant for the bank on Monday. (SPA)
Updated 02 October 2018
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King Salman announces $200 million grant to Yemen central bank

  • Saudi Arabia is the biggest donor of aid to Yemen

JEDDAH: Yemen’s central bank will get a much needed boost after Saudi Arabia’s King Salman ordered a $200 million grant be given to the institution on Monday.
The bank hiked interest rates to nearly doubled last month after demonstrations against the plunging currency.
The move is aimed at stabilizing the country’s economy to alleviate the financial burden on Yemenis. 
Saudi Arabia is the biggest donor of aid to Yemen and has been engaged, along with Arab allies, in restoring legitimacy to Yemen’s internationally recognized government against Iranian backed Houthi militia who have illegally captured parts of the country.  
In March, Saudi Arabia agreed to deposit an additional $2 billion into Yemen’s central bank, bringing the total aid to the lender to $3 billion.


Jeddah to host first global village in Saudi Arabia

The marketing plan of the village has been put in place to target private and international schools to ensure high attendance. (Shutterstock)
Updated 21 January 2019
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Jeddah to host first global village in Saudi Arabia

  • “Participants from some 50 countries have so far confirmed their interest in taking part in the festival, which will be held on an area of more than 45,000 square meters,” Suzan Eskander said

JEDDAH: For the first time in Saudi Arabia, Jeddah will host a multicultural festival that takes visitors on a virtual tour of 50 countries.
The global village will be set up inside Atallah Happy Land Park along the city’s famous waterfront every day from 5 p.m. to midnight between Feb. 28 and March 29.
The event is one of many aiming to enhance tourism, as well as the local economy.
Suzan Eskander, director-general of International Image, the organizing company, told Arab News that the village is expected to attract 1 million visitors.
“Participants from some 50 countries have so far confirmed their interest in taking part in the festival, which will be held on an area of more than 45,000 square meters,” she said.
“There will be pavilions for participants from five Gulf Cooperation Council states, 10 Arab countries, 18 African countries, 10 European countries and four countries from the Americas.”
She added that folkloric dances would be performed by bands from each country.
“Performers will be dressed in traditional costumes,” she said. “Visitors can also enjoy dishes and traditional products from different countries.”
Eskander also said paintings portraying heritage and culture in the different countries would be on display.
“In addition, we are hopeful that the children’s zone will wow young visitors,” she said. “Little guests can develop their skills in drawing and games, as well as play zones.”
Eskander said the village was timed to coincide with the city’s good weather season, adding that a marketing plan has been put in place to target private and international schools to ensure high attendance. Eskander expressed her gratitude to the General Entertainment Authority for their continued support and cooperation.
“They have not only provided us instructions for obtaining the festival’s license, but are still following up to ensure that everything is going smoothly,” she said.