Mawani announces first container shipment from Jubail Commercial Port to Riyadh Dry Port 

Mawani announces first container shipment from Jubail Commercial Port to Riyadh Dry Port 
This voyage was made possible through collaborative efforts between the Saudi Ports Authority, known as Mawani, the Tax and Customs Authority, Saudi Railway Co., and Mediterranean Shipping Co. File/Supplied
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Updated 28 April 2024
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Mawani announces first container shipment from Jubail Commercial Port to Riyadh Dry Port 

Mawani announces first container shipment from Jubail Commercial Port to Riyadh Dry Port 

RIYADH: Saudi sea and rail transport links are set to be enhanced with the commencement of the first container shipment from Jubail Commercial Port to Riyadh Dry Port. 

This voyage was made possible through collaborative efforts between the Saudi Ports Authority, known as Mawani, the Tax and Customs Authority, Saudi Railway Co., and Mediterranean Shipping Co., according to a statement. 

Moreover, the containers were transported through the railway connecting Jubail Commercial Port and the East Railway network, carrying a load of 78 receptacles. The maximum cargo capacity for one trip on the railway is 140 standard containers. 

This move falls within the framework of cooperation between Mawani and other concerned parties, especially SAR, which contributes to achieving integration in transporting crates, bulk materials, and general goods by connecting ports using trains.  

This comes with the SAR networks linking the Riyadh Dry Port with King Abdulaziz Port in Dammam, King Fahd Industrial Port in Jubail, Jubail Commercial Port, and Ras Al-Khair Port. 

This development adds a competitive advantage for these terminals and supports the growth of ship loading and unloading services. 

“The launch of the first container shipment from the Jubail Commercial Port via railways to the Riyadh Dry Port and linking the ports to train networks will contribute to enhancing integration between sea and rail transport modes, raising the efficiency of logistical operations, developing the efficiency of exports and imports, and enhancing the competitiveness of the ports to consolidate the Kingdom’s position as a global logistics center in accordance with Saudi Vision 2030,” Minister of Transport and Logistics Saleh Al-Jasser said in a post on X. 

Additionally, the railway operation will raise the level of services provided at ports, delivering innovative logistical services that contribute to developing the efficiency of exports and imports.  

It will also offer logistical support to industrial and commercial ports within the Kingdom, bolstering their competitive edge and facilitating commercial traffic by providing safe and sustainable solutions aimed at curbing harmful emissions and safeguarding the environment. 

In early April, Mawani partnered with SAR to develop a unified framework and adopt a general regulatory and legislative pattern for goods transport activities to and from the authority’s ports via railway, in accordance with the objectives of the National Transport and Logistics Strategy as well as the Kingdom’s Vision 2030. 


Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains

Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains
Updated 29 sec ago
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Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains

Closing Bell: Saudi Arabia’s key benchmark index begins 2025 with gains

RIYADH: Saudi Arabia’s Tadawul All Share Index began the year on a positive note, gaining 0.34 percent or 40.81 points to close at 12,077.31 points on Wednesday.

The total trading turnover for the benchmark index reached SR3.3 billion ($882.8 million), with 152 stocks advancing and 71 declining. The MSCI Tadawul Index also saw a slight increase, rising 5.30 points (0.35 percent) to finish at 1,514.61 points.

Meanwhile, the Kingdom's parallel market, Nomu, experienced a decline, falling 481.86 points (1.53 percent) to close at 30,993.86 points. The market saw 24 stocks gain, while 45 retreated.

Salama Cooperative Insurance Co. led the day’s gains, with its share price climbing 9.54 percent to SR19.98. Other top performers included Wataniya Insurance Co., which saw a 6.04 percent increase to SR26, and Allied Cooperative Insurance Group, which rose 5.65 percent to SR14.22. Fawaz Abdulaziz Alhokair Co. saw a 4.54 percent rise to SR13.82, while Shatirah House Restaurant Co. gained 3.44 percent, closing at SR21.68.

On the other side, Nayifat Finance Co. was TASI’s worst performer, with a 3.75 percent drop to SR14.88. Riyad REIT Fund fell 2.79 percent to SR6.61, and Al-Babtain Power and Telecommunication Co. saw a decline of 2.31 percent, settling at SR38.10. Savola Group and Gulf Insurance Group also posted losses, with their share prices falling by 1.91 percent to SR36 and 1.58 percent to SR31.20, respectively.

On the announcements front, the General Authority for Competition approved the economic concentration process for BinDawood Holding’s acquisition of 100 percent of Zahret Al Rawda Pharmacies Co. Ltd.

The decision, dated December 31, 2024, marks a significant step in the acquisition process. BinDawood has announced it will provide updates on the completion of the transaction and any material developments as they arise. By Wednesday’s close, BinDawood’s share price had risen 1.08 percent to SR6.54.

Separately, First Avenue for Real Estate Development Co. disclosed the signing of a non-binding Letter of Intent with Awj Real Estate Development and Investment Co. to establish a real estate fund focused on commercial, office, and hospitality projects.

The fund will invest in four key assets: West La Perle, East La Perle, La Perle Residential Land, and La Perle Hotel Land. First Avenue is expected to hold between 40 percent and 50 percent of the fund, with Awj holding between 50 percent and 60 percent. First Avenue’s shares dropped 1.71 percent, closing at SR8.60.


Egypt signs $120m deal to establish pharmaceutical industrial zone

Egypt signs $120m deal to establish pharmaceutical industrial zone
Updated 01 January 2025
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Egypt signs $120m deal to establish pharmaceutical industrial zone

Egypt signs $120m deal to establish pharmaceutical industrial zone

RIYADH: Egypt is set to establish a $120 million pharmaceutical industrial hub in the Suez Canal Economic Zone, marking a significant move toward localizing medicine production and bolstering its regional manufacturing position.

The agreement was finalized between SCZONE’s investment arm, SCZONE Istithmar, and the Arab Pharmaceutical Materials Co., or Arab API, which will oversee the new facility. The deal was signed in the presence of Khaled Abdel Ghafar, Egypt's minister of health, alongside other high-ranking officials.

The deal outlines plans for a new facility in Sokhna Industrial Area, spanning 96,828 sq. meters. It will focus on producing key raw materials for the pharmaceutical industry, further strengthening Egypt's self-sufficiency in medicines. The site will produce active and inactive ingredients, intermediate materials, and chemicals essential for drug manufacturing.

“This project reflects SCZONE’s commitment to localizing the pharmaceutical industries in Egypt and strengthening its position in this field to become a regional hub for this industry based on the capabilities of SCZONE,” said Waleid Gamal El-Dien, chairman of SCZONE.

He added that SCZONE is dedicated to fostering an attractive investment environment with the infrastructure needed to ensure the success of such projects. “This project marks a significant shift in Egypt's pharmaceutical industry sector,” he continued.

“It is not just an industrial project, but it is an implementation of Egypt’s vision based on integration between all concerned parties to achieve self-sufficiency in essential medicines, and reduce the gap between supply and demand in the local market,” Gamal El-Dien said.

The partnership will see SCZONE Istithmar collaborate with Arab API to build, manage, and operate the plant. The contract was signed by Ahmed Saeed Kilani, chairman of Arab API, and Mohamed Abdel Gawad, SCZONE’s vice chairman for investment and promotion affairs, on behalf of their organizations.

The facility aims to meet local pharmaceutical needs while positioning Egypt as an exporter, strengthening the country’s manufacturing capacity.

Ghafar noted that the investment in the facility is a vital step in enhancing public health services and contributing to the national economy. He emphasized the government’s focus on achieving self-sufficiency and reducing pharmaceutical imports.

The new plant will support Egypt’s rapidly growing pharmaceutical industry, meeting rising domestic demand and positioning the country as a key player in the global market.

The $120 million investment is part of a broader pharmaceutical initiative within SCZONE, which includes other factories such as Ateco Pharma and Genavex Egypt, further strengthening local production capabilities.

In addition, SCZONE has earmarked 4 million sq. meters for the creation of a larger pharmaceutical industrial zone in partnership with the Egyptian Authority for Unified Procurement. This initiative underscores the government’s push for collaboration across stakeholders to achieve long-term self-sufficiency in medicine production.

The new plant is expected to reduce Egypt's reliance on imported pharmaceuticals, boost local production, and expand exports. It is part of the government’s broader strategy to modernize and expand the pharmaceutical sector, improve health services, and contribute to Egypt’s economic development.

SCZONE has played a key role in attracting investment to Egypt’s pharmaceutical sector, leveraging its strategic location and competitive advantages. The Sokhna Industrial Zone, where the new plant will be located, already hosts successful pharmaceutical projects, including Ateco Pharma’s intravenous injection drugs factory and Genavex’s vaccine manufacturing facility.


Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  

Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  
Updated 01 January 2025
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Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  

Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA  

RIYADH: Saudi Arabia’s consumer spending soared in the final week of 2024, with point-of-sale transactions climbing 17.2 percent week-on-week to SR13.8 billion ($3.6 billion), official data showed.  

Figures from the Saudi Central Bank, also known as SAMA, revealed significant growth across all sectors between Dec. 22 and Dec. 28, with the total number of transactions hitting 211.97 million during the week. 

The telecommunications sector led the growth in transaction value, reporting a 29.6 percent week-on-week increase to SR132.5 million.   

The recreation and culture sector followed closely, with a 27.7 percent rise, amounting to SR286.3 million. Seasonal gifting trends also contributed to a 26.1 percent increase in the jewelry sector, which recorded SR315 million in transactions.   

The food and beverage sector posted a 22.9 percent jump, reaching SR2 billion.  

Other sectors also saw substantial increases in transaction values. The education sector rose 20.7 percent, while health and furniture reported growth of 16.4 percent and 16.2 percent, respectively.   

Miscellaneous goods and services, as well as clothing and footwear, recorded similar growth at 16.2 percent and 16 percent. The restaurants and cafes sector grew by 14.4 percent, with transportation close behind at 14.2 percent.  

In terms of transaction volume, the jewelry sector led with a 25.4 percent week-on-week increase, reaching 231,000 deals.   

Telecommunications saw a 13.9 percent rise, followed by recreation and culture with a 13.3 percent increase, and transportation with an 11.8 percent growth.   

Clothing and footwear transactions rose by 11.5 percent, furniture by 10.6 percent, and miscellaneous goods and services by 8.9 percent.  

Regionally, Hail reported the highest growth in transaction value, with a 29.1 percent increase to SR218.9 million. The city also saw a 15 percent rise in the number of deals, reaching 3.65 million.   

Tabuk followed, posting a 28.9 percent growth in transaction value to SR270.5 million and an 11.3 percent rise in the number of transactions, totaling 4.57 million.  

Madinah recorded a 23.3 percent increase in value to SR594.8 million, alongside a 9.9 percent growth in the number of transactions.   

Riyadh, however, saw the highest overall transaction value at SR4.7 billion, reflecting a 12.4 percent increase. The capital also recorded a 6.2 percent rise in transaction volume.  

Jeddah followed with a 13.4 percent increase in transaction value and a 5.9 percent rise in transaction volume.  


Saudi Arabia standardizes USB Type-C charging ports for electronic devices

Saudi Arabia standardizes USB Type-C charging ports for electronic devices
Updated 01 January 2025
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Saudi Arabia standardizes USB Type-C charging ports for electronic devices

Saudi Arabia standardizes USB Type-C charging ports for electronic devices

RIYADH: As part of an initiative to improve user experience and reduce electronic waste, Saudi Arabia will adopt a unified charging standard for electronic devices, mandating USB Type-C ports. The new regulation, which took effect on Jan. 1, follows a decision by the Communications and Space Technology Commission in partnership with the Saudi Standards, Metrology, and Quality Organization.

The goal of this unification is to streamline charging and data transfer technology across the Kingdom, ensuring higher-quality technical products and enhancing consumer convenience.

CST and SASO have estimated that the new policy will reduce the local demand for various types of charging ports by over 2.2 million units each year. It will also save consumers more than SR170 million ($45.2 million) annually and support the Kingdom’s sustainability goals by cutting electronic waste by nearly 15 tonnes per year.

The first mandatory phase includes mobile phones, tablets, digital cameras, e-readers, portable video game consoles, headphones, earphones, loudspeakers, keyboards, computer mice, portable navigation systems, and wireless routers. A second phase, beginning on April 1, will expand the mandate to include laptop computers.


Aramco raises diesel prices in Saudi Arabia to $0.44 per liter

Aramco raises diesel prices in Saudi Arabia to $0.44 per liter
Updated 01 January 2025
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Aramco raises diesel prices in Saudi Arabia to $0.44 per liter

Aramco raises diesel prices in Saudi Arabia to $0.44 per liter

RIYADH: Saudi Aramco has increased diesel prices in Saudi Arabia to SR1.66 ($0.44) per liter, effective Jan. 1, 2025, marking a 44.3 percent rise compared to the start of 2024.

According to the latest update on Aramco’s website, the company has kept gasoline prices unchanged, with Gasoline 91 priced at SR2.18 per liter and Gasoline 93 at SR2.33 per liter.

The annual review of diesel prices is part of Aramco’s pricing mechanism, implemented in 2022. This year marks the fourth review under the system. In January 2024, the Kingdom raised diesel prices to SR1.15 from SR0.75 per liter, continuing its gradual adjustments.

Despite the hike, diesel prices in Saudi Arabia remain lower than those in many neighboring Arab countries. In the UAE and Qatar, a liter of diesel is priced at $0.73 and $0.56, respectively, while in Bahrain and Kuwait, it costs $0.42 and $0.39 per liter.

Aramco’s website also lists the current price of kerosene at SR1.33 per liter and LPG at SR1.04 per liter.

On Dec. 31, Aramco announced reductions in the official selling prices for propane and butane for January 2025. The price of propane was reduced by $10 per ton, while butane saw a $15 per ton cut compared to the previous month.

Aramco’s OSPs for LPG are key benchmarks for contracts supplying the product from the Middle East to the Asia-Pacific region.

Additionally, the energy giant reduced pricing for its Arab Light crude oil for Asian buyers in January 2025. The OSP for Arab Light was cut by 80 cents, bringing it to $0.90 per barrel above the regional benchmark. Arab Extra Light and Super Light grades saw reductions of 60 cents and 70 cents per barrel, respectively, while Arab Medium and Heavy grades experienced cuts of 70 cents per barrel.

These adjustments reflect Aramco’s ongoing efforts to align its pricing strategy with market dynamics while supporting its broader energy goals.