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Saudi Arabia seeks to enhance partnerships with Hong Kong and China

LONDON: Saudi Arabia is keen to strengthen its cooperation with Hong Kong and ultimately mainland China, the Kingdom’s minister of communications and IT said on Sunday. Speaking at the “One Gateway Shared Vision — Hong Kong x Saudi Arabia” event in the city, Abdullah Al-Swaha said closer collaboration would help boost the Kingdom’s Vision 2030 reform agenda, the South China Morning Post reported.
Business

Saudi Arabia’s Hajj Boost for Travel and Hospitality Sectors

DUBAI: Three years after the COVID-19 pandemic forced Saudi Arabia to impose strict travel restrictions, this year’s Hajj has given a palpable boost to the regional economy, with an estimated 1.6 million Muslims from around the world converging on Islam’s holiest sites. The annual pilgrimage began on Sunday with the ritual of Tawaf Al-Qudum, when pilgrims dressed in white robes walk in a circle around the Kaaba, the stone structure at the center of Masjid Al-Haram, or the Grand Mosque, the most important mosque and holiest site in Islam.
Business

“Saudi Arabia and Slovenia Foster Trade Relations at WEF Event”

RIYADH: Trade and economic ties between Saudi Arabia and Slovenia are expected to improve following a meeting between the Kingdoms’ Minister of Economy and Planning Faisal Alibrahim and Slovenia’s Minister of Digital Transformation Emilija Stojmenova Duh.  The ministers held talks on the sidelines of the recent World Economic Forum summit in Tianjin, China. The pair discussed potential areas of cooperation between both countries and analyzed ways to address issues of common interest, according to the Saudi Press Agency.
Business

Saudi cement companies in central region may reduce prices due to strong competition.

RIYADH: A price war between cement producers is likely to break out in Saudi Arabia’s central region on the back of the giga-projects boom, according to a recent report from AlJazira Capital. Since the majority of the huge ongoing developments in the Kingdom are located in its center, companies from across the country have ventured into the region, causing competition to soar.   The report added that the central area is also logistically more feasible and accessible for the majority of the firms in the Kingdom, further attracting external players. 
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

Saudi Arabia’s Food Industry Attracts $61.8 Million in Investments

RIYADH: Chocolate, yogurt and fish production in Saudi Arabia will increase after investment deals worth SR232 million ($61.8 million) were signed by the Saudi Authority for Industrial Cities and Technology Zones. The organization, also known as MODON, has awarded seven contracts covering 99,400 sq. meters which will primarily benefit the Kingdom’s food and beverage sector.
Business

Al-Falih: Saudi Arabia Plans More Airlines to Meet Demand

RIYADH: Within months of launching Riyadh Air, Saudi Arabia is exploring the possibility of adding more airlines to its growing aviation sector, revealed a top minister.  In an interview with Al-Arabiya on the sidelines of the ongoing Paris Airshow, Saudi Minister of Investment Khalid Al-Falih said that the Kingdom’s aviation sector is witnessing significant growth, necessitating the country to look at the possibility of introducing more airlines to meet the rising demand.  
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