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Saudi Arabia seeks to enhance partnerships with Hong Kong and China

LONDON: Saudi Arabia is keen to strengthen its cooperation with Hong Kong and ultimately mainland China, the Kingdom’s minister of communications and IT said on Sunday. Speaking at the “One Gateway Shared Vision — Hong Kong x Saudi Arabia” event in the city, Abdullah Al-Swaha said closer collaboration would help boost the Kingdom’s Vision 2030 reform agenda, the South China Morning Post reported.
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

EU proposes changes to payments sector to support fintech growth

LONDON: The EU has proposed making the payments sector more competitive, giving legal backing to a digital euro, and preserving the role of cash as fewer people use coins and notes, according to Reuters. The package of European Commission reforms seeks to further prise open a payments market long dominated by banks and US duo Visa and Mastercard, which are now being challenged by fintechs that offer rival services using data from customers’ bank accounts.
Business

TotalEnergies’ First Solar Power Plant in Saudi Arabia Fully Financed

RIYADH: Sustainable energy provision in Saudi Arabia is set to grow after French energy giant TotalEnergies achieved financial closure for its first solar power plant in the Kingdom.  According to a press statement, the 119 megawatts solar plant will be developed by a consortium of TotalEnergies, Japan’s Toyota Tsusho and Saudi Arabia’s Altaaqa Renewable Energy.  The group secured a power purchase agreement for the project with Riyadh-based Saudi Power Procurement Co. in an auction held between 2021 and 2022. 
Business

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.
Business

“Bahrain aims for 5% renewable energy in electricity generation by 2025”

RIYADH: In line with the aims of Bahrain’s National Energy Transition Plan, the state has stepped up efforts to increase the share of its renewable energy to 5 percent of its total electricity generation by 2025.  Kamal bin Ahmed Mohammed, president of the country’s Electricity and Water Authority, said the move is part of a strategy to diversify the state’s energy resources and achieve a renewable resource share of 20 percent by 2035, according to Bahrain News Agency. 
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Georgia protesters demand ‘European future’ and reject Russian law

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Violence has rocked Tbilisi as angry citizens fear Georgia will fall into ‘enemy hands’. 

Tunisian protesters demand eviction of migrant camp | TOME

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EL AMRA, Tunisia: Hundreds of Tunisians rallied Saturday in the town of El Amra to protest makeshift camps for migrants primarily from sub-Saharan African countries, an AFP correspondent said. The demonstration in the small town in central Tunisia follows recent crackdowns by authorities on similar encampments in the capital Tunis and other areas, often after complaints from local residents. In El Amra, protesters called for the “departure” of migrants and the “quick” eviction of the thousands estimated to be staying there, the correspondent said.

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€1bn EU ‘bribe’ for Syrian refugees angers Lebanon

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BEIRUT: Lebanon’s Prime Minister Najib Mikati on Friday vowed to step up deportations as part of a crackdown on illegal residents in the country. “This matter is not up for debate, and orders have been given to the relevant authorities to implement what is necessary,” he said. Mikati’s comments came after the EU on Thursday announced a €1 billion ($1.07 billion) aid package for Lebanon, mostly to boost border control in a bid to curb refugee flows across the Mediterranean Sea to Cyprus and Italy. Lebanon hosts more than 1.5 million Syrian refugees.

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As the war enters its 800th day, these are the main developments.

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KFC Malaysia closes outlets amid Gaza boycott

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