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Business

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

UAE startups secure funding for Saudi Arabia expansion

CAIRO: Digital logistics platform Transportr has successfully concluded its eight-figure seed funding round with the participation of Ittihad Ventures Holding and Industrial Capital Group.   Established in 2020, the UAE-based company acts as a multimodal digital freight marketplace, connecting shippers and carriers across various industries to facilitate efficient, transparent, and cost-effective movement of goods.  The platform addresses concerns such as freight rates, manual processes, enhanced visibility, traceability and customer service. 
Business

Thales strengthens Saudi Arabia presence with focus on defense and civil aviation

PARIS: Multinational defense company Thales is committed to strengthening its presence in Saudi Arabia and expanding its operations to align with the country’s Vision 2030 initiative, one of the firm’s leading figures has told Arab News. Speaking on the sidelines of the Paris Air Show, Pascale Sourisse, president of Thales International, said the organization not only wants to bolster the Kingdom’s defense sector, it is also branching out into other areas such as security, civil aviation and higher education.
Business

Russian companies eager to strengthen UAE relations: deputy PM

ST. PETERSBURG: Russian firms are keen to develop further ties with the UAE, the country’s deputy prime minister has insisted in a speech lauding economic links between the two nations. Speaking at the St. Petersburg International Economic Forum, Denis Manturov — also Russia’s industry and trade minister — noted the special nature of Russian-Emirati relations, which includes strong ties of friendship and a rich history of cooperation based on the principles of mutual respect and trust.
sport

“Women’s Tennis Tour Considers Saudi Arabia for Potential Business”

 LONDON: Like other sports, women’s tennis is looking into the possibility of getting into business with Saudi Arabia. And while holding a tournament there is not imminent, WTA Chairman and CEO Steve Simon said Friday that he visited that country with some players in February as part of the evaluation process. “It’s a very difficult and very challenging topic that’s being, obviously, measured by many, many different groups right now,” Simon said at an event in London to mark the 50th anniversary of the meeting that led to the founding of the WTA.
sport

VanVleet joins Houston; NBA free agency begins with few big names on the move

NEW YORK: Fred VanVleet bet on himself, and the Houston Rockets are the beneficiaries. On an opening night of free agency where most big names — Kyrie Irving, Draymond Green, Khris Middleton, Kyle Kuzma and more — stayed put, VanVleet is headed to a new home. He agreed to a three-year deal Friday with the Rockets that’ll pay him about $130 million, a person with knowledge of the negotiations told The Associated Press. ESPN first reported the agreement between VanVleet and the Rockets.
Business

Crude Oil Prices Rise on US Stock Draws, Amid Lingering Rate Hike Concerns

RIYADH: Oil prices edged higher on Wednesday after industry data showed a larger-than-expected drawdown of US inventories, signaling robust demand from the world’s biggest oil consumer, but the gains were limited by worries over interest rate hikes.   Brent crude futures rose 43 cents, or 0.60 percent, to $72.69 a barrel at 09:28 a.m. Saudi time, while US West Texas Intermediate futures gained 40 cents, or 0.59 percent, to $68.10 a barrel.  
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