Central Europe Battens Down. Highlights from Middle East: Resilience, Innovation and Compassion Lead the Way
Central Europe braces for severe flooding as heavy rains cause deaths and property damage.
Central Europe is bracing for more severe flooding as Budapest and Wroclaw reinforce riverbanks amid devastating rains. Heavy rainfall has already caused around 20 deaths and significant property damage in countries like the Czech Republic, Slovakia, Austria, Romania, and Poland. To combat the impact, the Polish Army and volunteers are enhancing flood defenses while authorities manage looting and evacuation efforts.
Transitioning to the Middle East, Saudi Arabia’s National Debt Management Center saw a dip in sukuk issuance in September, totaling SR2.603 billion, compared to SR6.01 billion in August. Fitch Ratings had predicted this trend, expecting issuances to slow in Q3 before picking up later due to lower interest rates and oil prices. These sukuk, part of a program initiated in 2017, were issued in six tranches with maturity dates ranging from 2027 to 2039.
Meanwhile, sustainability efforts were highlighted at the Riyadh EV Auto Show, with significant fleet decarbonization deals boosting Saudi Arabia’s green initiatives. Among the commitments, J&T Express Middle East agreed with the Saudi National Transportation Solutions Company to acquire 10 electric vans, and Saudi Bulk Transfer partnered with NTSC and Electromin for four electric trucks. Additionally, Rotana Waterfront teamed up with Electromin to install EV chargers in Jeddah, aligning with the Vision 2030 goal of having 30% of Riyadh's vehicles electric by 2030.
In political news, Saudi Crown Prince Mohammed bin Salman is set to deliver an annual royal address to the Shoura Council on Wednesday, marking the first year of its ninth session. Representing King Salman, the Crown Prince will outline the Kingdom’s domestic and foreign policies and its stance on regional and international issues. The council’s Speaker noted that their discussions and decisions are guided by the annual royal address.
On a compassionate note, the Saudi Arabian cat food company Horayra has launched the '1 Million Cats' campaign, inspired by Islamic principles of compassion for animals. The initiative aims to feed and care for stray cats across the Kingdom by distributing free food to rescuers and pet stores, encouraging a culture of animal care through community engagement and social media. The campaign has already made a positive impact on the lives of many stray cats.
Lastly, focusing on safety, Saudi Arabia recently hosted a hiking risk assessment course at King Khalid Royal Reserve, conducted by the Imam Abdulaziz bin Mohammed Royal Reserve Development Authority and the Saudi Climbing and Hiking Federation. The two-day course, which included 25 participants, covered risk analysis, avoiding common hiking mistakes, and emergency risk management. This initiative underscores ongoing efforts to improve safety and skills in tourism activities within Saudi reserves.