{"id":85942,"date":"2024-05-08T00:00:00","date_gmt":"2024-05-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/"},"modified":"2024-05-08T00:00:00","modified_gmt":"2024-05-08T00:00:00","slug":"saudi-nationals-dont-need-appointments-for-french-visa-applications","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/08\/saudi-nationals-dont-need-appointments-for-french-visa-applications\/","title":{"rendered":"Saudi nationals don\u2019t need appointments for French visa applications"},"content":{"rendered":"

Good morning, friends. <\/strong>It\u2019s another very busy morning for news, but there\u2019s one clear lead story: Aramco, which signaled it will pay higher dividends this year than last (when accounting for special dividends) despite dip in first-quarter profitability. <\/p>\n

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WEATHER-<\/strong>Riyadh<\/strong> will be windy today with a high of 35\u00b0C and a low of 24\u00b0C. Meanwhile, Makkah<\/strong> is going to see a hotter day with a high of 40\u00b0C and a low of 23\u00b0C. Al Taif<\/strong> will be nice and sunny with a high of 30\u00b0C and a low of 17\u00b0C<\/p>\n

Riyadh\u2019s <\/strong>drainage system now has seven new flood and rainwater drains, covering about <\/strong>55% of the capital city<\/strong>, Aleqtisadiah<\/a> quotes Riyadh Governor Faisal bin Bandar Al Saud and Riyadh Municipality official Al Walid Al Akrash as saying. The new arteries on the drainage system cost some SAR 2.4 bn and another 12 projects at an estimated cost of SAR 3.9 bn are underway.<\/p>\n

HAPPENING TOMORROW-<\/p>\n

Healthcare outfit Qomel will ring the bell <\/strong>on parallel<\/strong> market Nomu tomorrow to mark the <\/strong>first day of trading on its<\/strong> shares<\/strong>, Tadawul said in a statement<\/a> yesterday. Qomel\u2019s IPO was 2.75 oversubscribed earlier this month after qualified investors placed their orders on 21-25 April at a set price of SAR 80 apiece. Qomel is offering a 14.3% stake on Nomu.<\/p>\n

Tadawul will host the Hong Kong edition of its flagship markets conference.<\/strong> The two-day event continues on Friday and will see a mix of plenary sessions and one-on-one sessions between investors and listed companies. Tap or click here<\/a><\/strong>for the full rundown<\/a> and a link to the agenda for the invite-only event.<\/p>\n

DATA POINTS-<\/p>\n

<\/a> R<\/strong>emittances from expats living in the Kingdom rose 4% y-o-y to c.SAR 12 bn (USD <\/strong>2.3) in<\/strong> March<\/strong>, hitting their highest level since June 2022, Argaam<\/a> reports, citing Saudi Central Bank (SAMA) data. Meanwhile, remittances from Saudi nationals to other countries fell 9% y-o-y to SAR 5.1 bn during the month.<\/p>\n

WATCH THIS SPACE-<\/p>\n

#1- Crown Prince Mohammed bin Salman could visit Pakistan sometime this <\/strong>month<\/strong>, Pakistan\u2019s Dunya News<\/a> quotes Pakistan\u2019s Deputy Prime Minister and Foreign Minister Ishaq Dar as saying. Dar was speaking as a delegation of senior Saudi officials wraps up a visit to Pakistan during which they attended a two-day investment conference. Meetings between private Saudi players and Pakistani counterparts were \u201cvery productive,\u201d Dar is quoted as saying. <\/p>\n

There\u2019s been a lot of traffic between Riyadh and Islamabad of late: <\/strong>Foreign Minister Prince Faisal bin Farhan visited Pakistan last month<\/a> nearly a week after Pakistan\u2019s prime minister discussed a USD 5 bn investment package<\/a> during a meeting in Makkah with the Crown Prince. Saudi has been among key backers of crisis-hit Pakistan, which is now struggling with depleted reserves. The Kingdom has extended the term<\/a> of a USD 3 bn in deposit at the State Bank of Pakistan for an additional year, maturing in December this year. Pakistan also received last year<\/a> USD 2 bn in financial assistance from the Kingdom to shore up finances.<\/p>\n

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#2- Fawry eyes Saudi expansion:<\/strong> EGX-listed fintech giant Fawry, the largest e-payments and digital financial solutions player in Egypt, is in talks with as many as six Saudi companies on a potential partnership as the firm looks to expand into the kingdom, Fawry CEO Ashraf Sabry told Asharq Business<\/a>. <\/p>\n

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<\/a> #3- Real estate developers can now apply for off-plan project licenses online <\/strong>through the e-platform for Wafi, the Municipal, Rural Affairs and Housing Ministry\u2019s off-plan sales and leasing arm, the Real Estate General Authority said in a statement<\/a> yesterday. Applicants should pass a qualification program, present a feasibility study on the project, as well as details on how it will be financed and delivery dates to obtain the license. They should also present proof of the project meeting requirements for building permits. The move aims to regulate the sector, reduce irregularities, and increase supply of offered real estate projects across the country.<\/p>\n

IN CONTEXT- There\u2019s growing interest in off-play sales:<\/strong> Some 47 off-plan sales projects were licensed in the first six months of 2023, a 50% increase over the same period a year earlier, according to Wafi figures<\/a>. S&P Global said in March<\/a> that a better regulated off-plan industry in Saudi would fuel demand.<\/p>\n

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#4- Hotel operator <\/strong>BWH<\/strong> \u2014 which owns the Best Western Hotels brand \u2014 is <\/strong>looking to add 40 hotels in the Kingdom to its portfolio <\/strong>by the end of 2028<\/strong> and is eyeing franchise or management agreements to reach that target, Gulf News<\/a> quotes EMEA Vice President Wytze van den Berg as saying on the sidelines of the ongoing Arabian Travel Market in Dubai. \u201cWe find there is still quite good demand for hotels especially in the western parts of the country. Riyadh continues to perform well as a destination, and we see that continuing given the government spending that\u2019s backing it up.\u201d<\/p>\n

BWH\u2019s first hotel in Makkah is coming next year:<\/strong> The hotel group recently landed its first three hotel towers in Makkah, with 150 keys each. \u201cThe opening will likely be in 3Q 2025, and we will have three separate brands take care of the hotels,\u201d van den Berg said.<\/p>\n

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#5- What\u2019s missing from Saudi\u2019s real estate market? Luxurious residential towers<\/strong>, Cheval Collection\u2019s director of development and acquisitions, Daniel Johansson, told Argaam<\/a> on the sidelines of the Future Hospitality Summit. Johansson pointed to \u201cthe fact that hotels in Riyadh are fully booked on event and conference days\u201d as an indication that luxury residential towers are lacking in the market. Cheval Collection is set to open the doors to a luxury residential tower, Cheval Ladun Living, in Riyadh in 2027, Johansson said.<\/p>\n

REMEMBER-<\/strong> S&P Global said earlier this week<\/a> that real estate developers in the Kingdom need to ramp up supply to keep pace with growing market demand \u2014 particularly in the capital and Jeddah \u2014 as their populations grow. S&P expects that demand will outstrip supply in Riyadh in particular, where real estate supply is already tight.<\/p>\n

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#6- The government is looking to triple current polymer production levels and increase <\/strong>exports fivefold by 2035<\/strong>, Deputy Minister for Industry Affairs Khalil Ibrahim bin Salamah tells Argaam<\/a>. The plans include using more than 4 mn bbl of oil for petrochemical production, \u201cwhich will significantly boost local manufacturing,\u201d Salamah is quoted as saying.<\/p>\n

PSAs- <\/p>\n

<\/a> #1- Don\u2019t have a Hajj permit? Steer clear of Makkah during the season unless <\/strong>you\u2019re <\/strong>a resident of the city: <\/strong>Expats and citizens found in Makkah and designated areas within the city without providing a Hajj permit or proof of residency in the Holy City will face a SAR 10k fine, state news agency SPA<\/a> reported. Expats will also be deported and banned from entering the Kingdom for an unspecified period of time. The rules will be in effect from Sunday, 2 June until Thursday, 20 June.<\/p>\n

<\/a> #3- Saudi citizens can now apply for a visa to France at VFS centers without <\/strong>booking an<\/strong> appointment<\/strong>, the French embassy said in a statement<\/a>. The new walk-in service is available for Saudi nationals at VFS centers in Riyadh and Dammam, with 100 appointments available per day in Riyadh and 50 per day in Dammam. Applicants are admitted on a first-come, first served basis.<\/p>\n

#2- Businesses can issue seasonal contracts for temporary workers during the Hajj <\/strong>seasons<\/strong> as part of the Human Resources and Social Development Ministry\u2019s Ajeer Al Hajj service, reports state-run SPA<\/a>. The service will also connect job seekers with available positions through an online portal. <\/p>\n

SPORTS-<\/p>\n

Al Hilal solidified its position at the top of the Saudi Pro League with a 2-1 victory against <\/strong>Al <\/strong>Ahli Saudi.<\/strong> A goal by Aleksandar Mitrovic reversed Al-Ahli\u2019s lead in the first half, while Malcom sealed the victory with a decisive goal in the final minute. <\/p>\n

Second-place Al Nassr is now 12 points behind Al Hilal<\/strong> in the standings, while Al Ahli Saudi is third in the league.<\/p>\n

Matchday 31 of 34 kicks off tomorrow, with the following fixtures:<\/strong><\/p>\n