CJ Logistics, iHerb choose Riyadh as operational hub in Middle East, Africa
The US health and care products company iHerb and Korea’s world leader in logistics solutions CJ Logistics, as a result of the regular meetings held by the E-Commerce Council, have chosen Riyadh as their operational hub in the Middle East and Africa to meet the growing demand of consumers, along with the attractiveness of the […]
Aramco CEO says blue hydrogen cost equivalent of $250 a barrel of oil
Blue hydrogen could cost the equivalent of around $250 a barrel of oil given the existing technology, according to Aramco’s President & CEO Amin Nasser. “It is very difficult to identify any off-take agreement in Europe for blue hydrogen,” Bloomberg reported Amin Nasser as saying on a call with analysts. “Even the customers in Japan […]
Saudia Cargo, Cainiao extend partnership with new 12-month space and service commitment agreement
Saudia Cargo, has signed a new 12-month “space and service commitment” agreement with Cainiao Network, the logistics arm of Alibaba Group. The agreement, which commenced on April 1st, 2023, and continues till March 31st, 2024, reserves exclusively selected SACC freighter flights from Hong Kong to Riyadh and Liege. The signing of the new agreement […]
Webuild unit secures $439mln Saudi water project contracts
Fisia Italimpianti, a subsidiary of the Webuild Group (formerly Salini Impregilo Group) has won two contracts worth a combined value of €408 million ($439 million) for the construction and management of a water treatment plant within the Zuluf onshore oil facilities in Saudi Arabia. A global leader in water treatment and desalination plants, Fisia Italimpianti […]
Saudi Arabia’s Dur inks final partnership deal to build hotel in Riyadh
Saudi Arabia’s Dur Hospitality Company has inked a final partnership agreement with Smart Zone Real Estate Company, wholly owned by Saudi Telecom Company (STC), to set up a special-purpose vehicle to build a hotel in Riyadh. The new company, 84 percent owned by Dur and 16 percent by Smart Zone Real Estate, will have an initial capital 25,000 […]
Saudi Telecom’s Q1 net profit edges up on higher revenues
Saudi Telecom Company (STC), the kingdom’s biggest mobile operator, said net profit for Q1 2023 edged up to 3.11 billion ($829 billion) on the back of higher revenues. The net profit was mostly in line with analysts’ mean estimate of SAR3.18 billion, according to data compiled by Refinitiv’s Eikon. Revenue rose 7% to over SAR18 […]
Saudi-Korean investment tour launches to introduce opportunities in transport, logistics
The “Saudi-Korean” tour to introduce investment opportunities in transport and logistics launched on Tuesday in Seoul, the capital of the Republic of Korea in the presence of Minister of Transport and Logistics Services Eng. Saleh bin Nasser bin Ali Al-Jasser and South Korean Minister of Land, Infrastructure and Transport Won Hee-ryong. Al-Jasser affirmed that at […]
Saudi Railway Company says number of passengers on its trains doubled during Q1
The Saudi Railway Company (SAR) announced that the total number of passengers on the Kingdom’s rail network has reached 2,221,225 during the first quarter of 2023, indicating an increased rate of 104% compared to the same period last year. In its report on operational results and achievements, the SAR revealed that the number of journeys […]
Saudi Aramco to supply full oil volumes to some Asian refiners in June – sources
Saudi Aramco has told at least five customers in North Asia they will receive full nominated volumes of crude oil in June, several sources with knowledge of the matter said on Wednesday. Saudi Arabia, the world’s top oil exporter, cut its official selling prices for all crude grades to Asia for June-loading cargoes amid the […]
Olam Agri’s Singapore-Saudi $1bln dual listing may launch as early as June – sources
Agri-food giant Olam Group aims to launch in June the dual initial public offering (IPO) of its agricultural unit that could raise up to $1 billion in Singapore and Saudi Arabia, two sources with knowledge of the matter said. The IPO, the first of such a dual listing in the world, is subject to regulatory […]