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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.  

PIF’s Jada to Boost Saudi Arabia’s Startup Scene

CAIRO: Saudi Arabia’s startup landscape has received a significant push after a subsidiary of the Kingdom’s Public Investment Fund committed to investing in several venture capital vehicles. PIF’s Jada Fund of Funds Co. plans to invest an undisclosed amount in Bahrain-based Investcorp’s $500 million Saudi pre-initial public offering growth fund. The investment vehicle is exclusively focused on supporting a diverse range of companies based in Saudi Arabia during their pre-IPO stage.

“74% of Online Shoppers Favor Local E-commerce over Cross-border Platforms”

RIYADH: Saudi Arabia’s retail sector is eyeing significant growth on the back of its e-commerce market, as 74 percent of online shoppers in the Kingdom are expected to shift from global to local platforms. In its recent report, leading global management consulting firm Kearney and Saudi consulting company Mukatafa noted that local and hybrid players are making strong headway against their international counterparts from China, the Gulf Cooperation Council, Europe and the US.

Saudi-Iraq to Create Economic Zone to Increase Trade

JEDDAH: Saudi Arabia and Iraq on Thursday signed a raft of agreements to boost economic cooperation and develop a special economic zone. The deals were signed during the fifth session of the Saudi-Iraqi Coordination Council in Jeddah. The two sides agreed to identify economic opportunities to boost bilateral trade and investments in various sectors. Following the session, Saudi Commerce Minister Dr. Majid Al-Qasabi said the meeting was an affirmation of the brotherly relations between the two countries and aimed to strengthen the strategic partnership.

Etihad Rail collaborates with Arsenale to introduce high-end train service in UAE.

RIYADH: Travelers will have access to a luxury train service in the UAE after national railway network operator Etihad Rail partnered with Italian hospitality firm Arsenale Group in a move to boost tourism and showcase the country’s heritage and scenic attractions.  The firms signed a memorandum of understanding during the two-day Middle East Rail Exhibition and Conference in Abu Dhabi to roll out the 15-carriage transit option that will travel throughout the UAE toward the border with Oman. 

India Accuses China of Border Agreement Violation

Indian defence minister held 'frank discussions' with his Chinese counterpart, India’s defence ministry says.

Air Strikes in Sudan Increase as Ceasefire Nears Expiration

Fighting between the army and RSF paramilitary rages for a second straight day in West Darfur's capital, Geneina.

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