Arab coalition: Houthi armed drone, ballistic missiles launched toward Khamis Mushait intercepted

A Houthi armed drone and two ballistic missiles launched towards Saudi Arabia's Khamis Mushait were intercepted on Thursday, the Arab coalition said. (File/AFP)
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Updated 13 August 2020

Arab coalition: Houthi armed drone, ballistic missiles launched toward Khamis Mushait intercepted

  • The armed drone was intercepted and downed in the morning
  • The ballistic missiles were intercepted and destroyed in the evening

RIYADH: A Houthi armed drone and two ballistic missiles launched towards Saudi Arabia's Khamis Mushait were intercepted on Thursday, the Arab coalition said.

The armed drone was intercepted and downed in the morning whilst the ballistic missiles were intercepted in the evening, Arab coalition spokesperson Col. Turki Al-Maliki said. 

Al-Maliki stressed that the coalition continues to take appropriate actions to deal with hostile and terrorist Houthi acts in accordance with international humanitarian law.


Saudi Tourism Development Fund, banks sign deal for up to $43 bln of projects

Updated 11 min 29 sec ago

Saudi Tourism Development Fund, banks sign deal for up to $43 bln of projects

  • Fund to launch investment vehicles to develop tourism with private and investment banks
  • Saudi Arabia wants tourism sector to contribute 10% of GDP by 2030

RIYADH: Saudi Arabia’s Tourism Development Fund on Monday signed an agreement with Riyadh Bank and Banque Saudi Fransi to finance up to 160 billion riyals ($43 billion) of tourism projects in the Kingdom, state news agency SPA reported.
The agreement will set up mechanisms to finance tourism projects across the Kingdom as part of the government’s efforts to develop the sector.
The fund, founded in June with an initial $4 billion investment, is part of plans to diversify the economy in the face of the coronavirus pandemic and low oil prices.
It is intended to launch investment vehicles to develop tourism in collaboration with private and investment banks.
The Kingdom, which opened its doors to foreign tourists in September 2019 by launching a new visa regime for 49 countries, wants the sector to contribute 10% of gross domestic product by 2030.
Earlier this week, tourism minister Ahmed al Khateeb told Reuters that the tourism sector had been hit hard by strict government measures to fight the coronavirus and was expected to decline by 35%-45% by the end of the year. ($1 = 3.7506 riyals)d)