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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.  
Business

“King Abdulaziz Port Achieves Record Container Throughput of 206,415 TEUs”

RIYADH: Saudi Arabia’s quest to ramp up trade volumes has seen one of its major ports registering an unprecedented growth in cargo volume. The King Abdulaziz Port set a new container throughput record of handling 206,145 twenty-foot equivalent units in May 2023, according to data released by the Saudi Ports Authority, also known as Mawani. The Dammam port surpassed its previous record of 199,609 TEUs in August 2022.
sport

Saudi Athlete Donates Rio 2016 Outfit to Olympic Museum

JEDDAH: Saudi Olympic athlete Kariman Abuljadayel has donated her Rio 2016 Olympic running attire to the International Olympic Committee to be a part of the Olympic Museum in Switzerland. In 2016, Abuljadayel was the first Saudi woman athlete in history to take part in the Olympic 100 meters sprint competition in Rio de Janeiro. She has now turned her attention to rowing.
Business

FAO predicts global food import bill to reach $1.98tn by 2023

RIYADH: The global food import bill is forecast to reach a record high of $1.98 trillion in 2023, up 1.5 percent from 2022, due to a combination of factors including an increase in international prices and higher volumes, the latest UN report showed.    The Food and Agriculture Organization of the UN in its biannual report stated that the anticipated increase in the 2023 bills will happen due to an additional $18.4 billion stemming from higher international prices and $12.9 billion from higher volumes. 
Business

Turkish Decor Group to Set Up Factory in Saudi Arabia

RIYADH: Turkish decor group Serdur has finalized an agreement with Dubai-based real estate developer Andalusia Courtyard to establish an office in the UAE and a $10 million factory in Saudi Arabia.   The strategic partnership with Andalusia Courtyard will pave the way for the Turkish group’s expansion into the Middle East, with a primary focus on the UAE and Saudi markets.  
sport

Hudson joins Qatari club a week after leaving American job

DOHA: Anthony Hudson has agreed a two-year deal to guide Al Markhiya in the Qatari soccer league a week after quitting as interim head coach of the US men’s national team. The club posted confirmation of the two-year contract on its social media platforms late Wednesday, saying Hudson’s immediate goal is to help Al Markhiya improve on the seventh-place finish it achieved in its first season after promotion to the Qatar Stars League.
Business

“Dammam Port now offers new shipping service”

RIYADH: Traffic at the King Abdulaziz Port in Dammam will soon ease thanks to the addition of Swiss-based Mediterranean Shipping Co.’s new service, the Saudi Press Agency reported. The Upper Gulf Express shipping service aligns with the objectives of the National Transport and Logistics Strategy to position the Kingdom as a global logistics hub connecting three continents, the General Authority of Ports said.  The shipping service connects Dammam with the ports of Abu Dhabi and Sharjah in the UAE as well as the Iraqi port of Umm Qasr.  
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