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Q8 to Construct Rome’s First Hydrogen Refueling Station in Kuwait

RIYADH: Italy’s energy transition plans received a further boost as Kuwait Petroleum International, also known as Q8, laid the foundation for Rome’s first circular hydrogen refueling station in collaboration with Maire Group.
Business

VMS, Saudi Venture Studio, Acquires Stakes in Egypt’s Cash Cows

RIYADH: The startup ecosystem in the Middle East and North Africa region is poised to get a boost as Saudi Arabia-based venture studio VMS has acquired minority stakes in Egyptian startup accelerator Cash Cows.   The purchase of stakes is part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries and in the wider MENA region, according to a press release.  
Business

Egypt boosts energy transition with updated climate commitments

RIYADH: Egypt aims to advance its target of generating 42 percent of its energy through renewable sources to 2030 from 2035 as the North African nation submitted updated climate commitments as per the Paris Agreement on Monday.   In its updated Nationally Determined Contribution document, Egypt noted that the country needs to obtain grants and soft financing worth €500 million ($548 million) as a contribution to achieving the revised targets. 
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Baseball United CEO Shaikh: Abu Dhabi and Dubai Franchises Elevate Us to New Heights

For Kash Shaikh, November cannot come quickly enough. The Chairman and CEO of Baseball United, the first professional league dedicated to baseball in the Middle East and Asia, last week signed partnership with the Emirates Cricket Board ahead of the organization’s competitive launch in five months’ time. Things are steadily falling into place for the Dubai-based league. Baseball United’s first showcase will involve four franchises facing off in four games, before an eight-team league follows a year later.
Business

PIF’s Lifera partners with CENTOGENE for global omics diagnostics.

RIYADH: Patients in the Gulf Cooperation Council region could get faster and more accurate diagnoses after the Public Investment Fund-owned Lifera announced a joint venture with CENTOGENE.  The biopharmaceutical company will be working with the German-based firm to provide multiomic testing services — a concept in biological research that aims to comprehensively characterize and quantify large numbers of molecules in complex samples.
Business

SPARK and Hutchison Ports team up for dry port and logistics zone operation.

RIYADH: King Salman Energy Park, also known as SPARK, will soon have access to improved logistical services and solutions thanks to a new agreement.   SPARK and Hong Kong-based firm Hutchison Ports have signed a concession agreement to manage and operate the dry ports and logistics area of the largest global center for power plants in Saudi Arabia.   This move falls in line with the objectives of the Saudi Vision 2030 in transforming the Kingdom into a global logistics hub. 
Business

Saudi EXIM Bank and NBB collaborate to enhance exports

RIYADH: Bilateral trade between Saudi Arabia and Bahrain is set to receive a further boost after banks from both sides entered into an agreement to offer competitive financing to firms involved in the import and export of goods.  According to a memorandum of understanding signed between the National Bank of Bahrain and the Saudi Export-Import Bank, also known as Saudi EXIM Bank, NBB will offer competitive financing rates to Bahraini companies importing goods from Saudi Arabia.  
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