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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.
sport

“76ers’ Future Uncertain: Harden and Harris Deals Hang in Balance”

PHILADELPHIA: James Harden might have side-eyed questions this week — much like he did in a playful reaction in his Houston days — about his future with the Philadelphia 76ers. But the issue is real in Philly: Will Harden return to the 76ers for a third season? All signs point to Harden declining his $35.6 million option on Thursday and entering this summer as an unrestricted free agent. That leaves the 2018 NBA MVP and 10-time All-Star free to sign with any team.
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. 
Business

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.  
Business

“Growing Venture Capital Scene in Saudi Arabia”

CAIRO: Silicon Valley-based investor Plug and Play Tech Center, renowned for its early investments in successful firms such as Dropbox and PayPal, is seeking to raise $100 million to support Saudi startups, Bloomberg reported.  The venture capital firm is in discussions with Jada, a $1 billion fund of funds established by Saudi Arabia’s sovereign wealth fund the Public Investment Fund, to collaborate on this initiative, Saeed Amidi, Plug and Play’s founder and CEO, stated. 
Business

“World Bank Offers Repayment Pause to Nations in Crisis”

PARIS: The head of the World Bank said Thursday that the lender planned to introduce a “pause” mechanism for debtor countries in the event of them being hit by a crisis. Ajay Banga told a summit on financing the fight against climate change that the multilateral lender would adopt a new approach that “significantly expands the World Bank’s toolkit.” The most important measure would be offering “a pause on debt repayments so countries can focus on what matters when a crisis hits and stop worrying about the bill that is going come,” he added.
sport

Abdullah Al-Qahtani to Make Professional Fighters League Debut in Atlanta, Saudi Arabia

On Friday night Abdullah Al-Qahtani will step into the ring in Atlanta proudly wearing Saudi Arabia’s colors on the international stage, in the most high-profile bout of his career. The 24-year-old fighter from Riyadh will take on Lamar Brown of the US at the Overtime Elite Arena in the Featherweight category of Professional Fighters League, which is second only to Ultimate Fighting Championship in popularity among mixed martial arts fans globally.
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