Medina

January 27, 2025 4:48 PM

Saudi Arabia allows foreigners to invest in firms with property in Mecca, Medina

Saudi Arabia's market regulator said on Monday it would allow foreign investment in listed companies that own real estate within Islam's two holiest sites of Mecca and Medina, as the Gulf country looks to attract more investment. The move will allow foreigners to invest in firms whose revenues rely on the Islamic pilgrimage, one of the top revenue sources for the oil-rich kingdom. Saudi Arabia's market watchdog, the Capital Market Authority (CMA), said in a statement the move aimed to attract ...

First batch of Haj pilgrims from Srinagar depart for Saudi Arabia

The first batch of pilgrims from Srinagar departed for Medina in Saudi Arabia on Thursday to perform Haj. "We are thankful to the (central) government for extending us all necessary help. We are delighted that Allah has chosen us to perform Haj at such a young age. I will pray for lasting peace and happiness in Kashmir." a Haj pilgrim said. The inaugural Haj flight from Delhi carried 285 pilgrims. Kausar Jahan, Chairperson of the Delhi State Haj Committee, stated that improved facilities hav...