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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. 
Environment

Samuel Alito’s Wife Leases Land to Oil and Gas Company During EPA Battle

A deal made by Alito’s wife with an energy company paints recent Supreme Court decisions on the environment in a damning light.

The post Samuel Alito’s Wife Leased Land to an Oil and Gas Firm While the Justice Fought the EPA appeared first on The Intercept.

Business

“Food Show in Riyadh: Saudi Arabia and Oman Sign Multiple MoUs”

RIYADH: Reflecting the strengthening of economic and investment ties between Riyadh and Muscat, Omani companies signed multiple contracts and memoranda of understanding at the Saudi Food Show held last week.   Oman, represented by the Public Establishment for Industrial Estates, or Madayn, had fruitful bilateral discussions with key company executives, investors, commercial agents and suppliers from Saudi Arabia at the event held in Riyadh. 
Business

ACWA Power gets $100m credit from Chinese bank to expand operations

RIYADH: In an effort to boost its operations, Saudi energy firm ACWA Power secured $100 million in a revolving credit facility from China Construction Bank. Engaged in collaboration with the Chinese bank since 2016, ACWA Power signed the three-year revolver agreement to scale up its power generation and water desalination portfolio in the Middle East, Uzbekistan and Kazakhstan.
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

Lockheed Martin sponsors 2024 Bahrain Airshow

LONDON: Lockheed Martin on Friday announced its participation in and sponsorship of the Bahrain International Airshow 2024. The company will have a stand in the exhibition hall and a dedicated chalet at the event. “A relationship spanning decades, Bahrain was the first country in the region to adopt Lockheed Martin’s F-16 aircraft, for the Royal Bahraini Air Force, and in early 2023 became the first country in the world to receive delivery of the first F-16 Block 70 fighter jet from the manufacturer,” UK-based airshow consultancy Farnborough International said.
Business

Saudi Arabia’s Financial Market Ranks 3rd in G20 Competitiveness Indicators

RIYADH: Saudi Arabia’s financial market has advanced seven places to the third position in the competitiveness indicators among G20 nations this year, revealed Switzerland-based International Institute for Management Development in its latest report. According to the IMD World Competitiveness Yearbook for 2023, the Kingdom’s performance epitomizes the ongoing efforts of the Capital Market Authority to implement global best practices. 
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