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Saudi Communications Minister strengthens tech partnerships with China

RIYADH: In an effort to boost Saudi-Chinese relations, the Kingdom’s minister of communications and information technology, Abdullah Al-Swaha, began an official visit to China to meet government officials and leaders, the Saudi Press Agency reported.   The minister held meetings with his Chinese counterpart as well as several other officials to enhance partnerships and attract more technological investments into the Kingdom.  
Business

Egypt’s Petroleum Ministry launches digital platform for sector investments

RIYADH: Egypt’s petroleum sector is on track to prosper thanks to a new service that will make it easier for investors to spot opportunities in the country. Launched by the Ministry of Petroleum and Mineral Resources, the Upstream Gateway digital platform aims to market petroleum areas globally, according to a statement. It will also provide the geological data required by current and potential investors and promote bids in the North African country’s oil and gas exploration field.
Business

Sound Energy secures $237m financing for Moroccan gas project in the UK

RIYADH: A natural gas project in east Morocco will soon be completed thanks to a new finance push from the largest bank in the North African country. UK-based Sound Energy has received a conditional offer from Attijariwafa Bank to obtain funding amounting to 2.3 billion Moroccan dirhams ($237 million) for the Tendrara-based project’s second phase, according to a statement. The funding will be allocated for completing drilling, operating wells, and building a pipeline to transport natural gas to the state’s National Office of Electricity and Drinking Water.
Business

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

Real Estate Fund Deposits $244.1m in Sakani Accounts in June

RIYADH: Saudi Arabia is getting closer to its Vision 2030 home ownership goal, with the Kingdom’s Real Estate Development Fund on Monday depositing SR916 million ($244.1 million) in the accounts of affordable housing beneficiaries.  According to the Saudi Press Agency, Mansour bin Madi, CEO of the fund, said the total amount deposited from June 2017 to June 2023 has now surpassed SR49.3 billion. 
sport

US to host larger Club World Cup in 2025

The first edition of FIFA’s new 32-team Club World Cup will be held in the United States in 2025, world football’s governing body said on Friday. FIFA had confirmed in March that the revamped Club World Cup will be played every four years from June 2025. The FIFA Council unanimously appointed the United States as the competition’s hosts for the first edition of the expanded format. The United States will also host the 2024 Copa America while they are also co-hosts of the 2026 World Cup along with Mexico and Canada.
Business

New Electrical Transmission Line Connects Afar, Saudi Arabia to Yusufiya, Iraq

DUBAI: Aiming to step up energy security and usher in a new era in regional cooperation, Prince Saud bin Nayef bin Abdulaziz, the governor of the Eastern Province, inaugurated an electrical interconnection project between the Gulf Cooperation Council Interconnection Authority and Iraq. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the connection was a dream turned reality, in an interview with Al-Arabiya. He said this landmark deal could achieve tangible economic benefits and enhance energy security.
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