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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

King Abdullah Port and Tabadul Partner to Enhance Logistics Efficiency

RIYADH: Delivery times for goods passing through King Abdullah Port are set to be reduced after the facility signed a strategic partnership with the Saudi Company for Electronic Information Exchange, known as Tabadul, to develop a digital system to boost the Kingdom’s logistics sector. The two entities signed a contract on Tuesday which will see the port’s Smart Gate System merge with Tabadul’s Truck Management System in a move that will increase efficiency.
sport

“Man City’s Unprecedented Season Brings Khaldoon Al-Mubarak Happiness and Pride”

Manchester City and City Football Group Chairman Khaldoon Al-Mubarak has spoken about the relief, happiness and pride that followed the club’s Champions League triumph over Inter Milan in Istanbul on June 10. Here are some of the highlights from part one of an end-of-season interview published on the club’s website.  On winning the Treble
Business

flynas signs $3.7bn deal with Airbus for 30 planes

RIYADH: Saudi Arabia’s budget airline flynas has signed a $3.73 billion agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday. The deal was signed at the Paris Air Show by Bandar Al-Mohanna, flynas CEO and managing director, and Christian Scherer, Airbus chief commercial officer and head of international, in the presence of Saudi Minister of Transport and Logistics Saleh Al-Jasser, Abdulaziz Al-Duailej, president of General Authority of Civil Aviation, and Ayed Aljeaid, chairman of the board of NAS Holding.
Business

Saudi Main Index Steady, Nomu Up 1,990 Points at Closing Bell

RIYADH: Saudi Arabia’s Tadawul All Share Index remained steady in the first session of the week, gaining 0.75 points or 0.01 percent to close at 11,516.89.  The trading turnover of the benchmark index was SR5.35 billion ($1.43 billion), as 120 stocks advanced, while 95 retracted.  Parallel market Nomu continued its upward movement for the fourth consecutive session, leaping 1,990.46 points to close at 28,988.06.  The MSCI Tadawul Index also picked up 0.03 percent to 1,519.18. 
Business

Lifera by PIF: Boosting Pharma Manufacturing in the Kingdom

RIYADH: Saudi Arabia’s sovereign wealth fund on Sunday launched a commercial-scale contract development and manufacturing organization, Lifera, to help boost the local biopharmaceutical industry. The pharmaceutical investment company aims to focus on manufacturing life-saving and essential pharmaceutical products, including insulins, vaccines, plasma therapeutics, monoclonal antibodies, cell and gene therapies, and innovative small molecules, said an official statement. It seeks to bolster Saudi Arabia’s position as a global pharmaceutical manufacturing destination.
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