Business

Saudi Arabia to bolster trade with Lebanon

Saudi Arabia plans imminently to boost commercial ties with Lebanon after Lebanese authorities demonstrated “efficacy” in curbing drug smuggling to the Kingdom over the past months, Reuters reported on Thursday, citing a senior Saudi official.

Ties between Riyadh and Beirut have been strained for years due to the power of Iran-backed Hezbollah over Lebanese political and security affairs, but the Kingdom sees an opening after the group was severely weakened by war with Israel last year.

Easing controls on imports, banned for years by Saudi Arabia, would be a first tangible sign of improvement, although Riyadh still wants to see the weak central government of Lebanon disarm Hezbollah – a demand Hezbollah has so far rejected.

“We will take imminent steps to bolster commercial relations between the two nations,” said the Saudi official, who spoke on condition of anonymity.

“The Lebanese government and security forces have demonstrated efficacy in curbing drug exports over recent months.”

A delegation from the Kingdom will soon visit Lebanon for discussions “to resolve the barriers hindering Lebanese exports to the Kingdom,” the source said, without elaborating on specific measures that might be taken or sectors that might be affected.

In 2021, Saudi Arabia banned all imports from Lebanon, citing smuggling of the methamphetamine-like drug Captagon, which was produced in Lebanon and Syria.

That put further pressure on Lebanon’s crumbling economy, already crushed by a 2019 financial crisis, with agricultural exports in particular stranded from traditional Gulf Arab markets.

Western and Arab states have long said former Syrian president Bashar al-Assad’s government and Hezbollah were behind the illicit production and trade in the drug, and huge factories were found in government-held areas of Syria and the border region where Hezbollah had a strong presence after al-Assad was toppled.

Hezbollah has denied involvement. Al-Assad’s regime collapsed under an opposition offensive in December 2024.

The senior Saudi official said Lebanese President Joseph Aoun and Prime Minister Nawaf Salam had requested that the Kingdom review its policy. The official said the Saudi government valued initiatives taken by the two leaders in the past months.

In September, Lebanon approved a landmark plan to disarm Hezbollah, starting south of the Litani River.

But implementation has been slow, due in part to logistical challenges and given fears that moving too quickly might instigate civil strife in a country with a long history of sectarian violence.

The United States has pressed the Lebanese government to move forward on the plan swiftly, with Israel saying Hezbollah was trying to rearm. Israel has continued to conduct near-daily strikes on what it says are Hezbollah targets, leaving many Lebanese feeling powerless and living in fear of the next attack.

“The new Lebanese administration’s efforts to preclude the use of Lebanon as a platform for threats to Arab states’ security will yield advancements in bilateral relations,” the senior Saudi official said.

Source-Reuters

Business

Two major parks planned in Riyadh

Authorities in the Saudi capital have unveiled plans to develop two expansive public parks covering more than 310,000 square metres as part of a broader push to increase green spaces across the city.

The Riyadh Region Municipality confirmed on Wednesday that the new developments will be situated in the eastern and southern districts of the capital. The project is designed to transform the city’s urban landscape, shifting away from traditional park layouts toward integrated “urban destinations” that cater to both recreation and environmental sustainability.

Central to the design is a scenic valley that will serve as a functional and visual anchor for both sites. According to municipal officials, the parks are intended to bolster the city’s “urban fabric” by providing high-quality public areas that align with the quality-of-life goals set out in the Saudi Vision 2030 framework.

The facilities planned for the 317,200-square-metre footprint are extensive. Beyond standard greenery, the sites will feature a golf course, multi-purpose sports fields, and dedicated jogging tracks. Families will have access to children’s play areas and water features, while the inclusion of a theatre and designated event spaces suggests the parks will double as cultural hubs for the local community.

“These parks represent high-quality developments aimed at expanding public spaces across the capital,” the municipality said in a statement. The announcement noted that the projects would also include a range of commercial amenities, including restaurants and cafés, to ensure the parks remain active throughout the day.

This latest initiative follows a series of large-scale environmental projects in the Kingdom, where officials are increasingly prioritising “livability” as Riyadh undergoes population and infrastructure expansion. The municipality highlighted that the design focuses on “environmental sensitivity,” incorporating innovative greening techniques to manage the arid climate while maintaining sustainable water use.

Business

Prince William to Official Visit Saudi Arabia in February

Britain’s Prince William is set to visit Saudi Arabia for the first time in an official capacity, Kensington Palace announced on Wednesday. The trip is scheduled from February 9 to 11, 2026.

Strengthening Ties Between the UK and Saudi Arabia

According to Kensington Palace, the visit comes as the UK and Saudi Arabia mark growing trade, energy, and investment partnerships. It also coincides with celebrations of nearly a century of diplomatic relations between the two nations.

A First for the Duke

This will be Prince William’s first official trip to Saudi Arabia, highlighting the importance of the country in the UK’s international relations and economic strategy.

What to Expect

While details of the itinerary haven’t been fully released, the visit is expected to include meetings with Saudi officials and discussions on trade, investment, and energy collaboration.

The visit signals a continued focus on strengthening ties between London and Riyadh, while marking a historic moment in Prince William’s international engagements.

Business

Japan tourist arrivals hit record 42.7 million in 2025

Tourists to Japan hit a record 42.7 million in 2025, exceeding 40 million for the first time, Japan’s Tourism Minister, Yasushi Kaneko, told a press conference.

Total spending by inbound tourists reached 9.5 trillion yen ($60 billion) over the year, also ‌a record high.

WAM