海角直播 boosts maritime connectivity with Syria, Turkiye via EXS6 service
海角直播 boosts maritime connectivity with Syria, Turkiye via EXS6 service/node/2591574/business-economy
海角直播 boosts maritime connectivity with Syria, Turkiye via EXS6 service
The new shipping service by Caerus will travel between Jeddah Islamic Port, Syria and Turkiye. Shutterstock
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Updated 25 February 2025
MOHAMMED AL-KINANI
海角直播 boosts maritime connectivity with Syria, Turkiye via EXS6 service
Updated 25 February 2025
MOHAMMED AL-KINANI
JEDDAH: 海角直播鈥檚 maritime connectivity with Syria and Turkiye is set to improve with the launch of the EXS6 shipping service, strengthening the Kingdom鈥檚 trade links with international markets.
Saudi Ports Authority, known as Mawani, announced on Feb. 25 the addition of a new shipping service by Caerus, which will connect Jeddah Islamic Port with 陌skenderun Port in Turkiye and Latakia Port in Syria 鈥 offering a capacity of 858 twenty-foot equivalent units.聽
This will enhance the terminal鈥檚 competitive advantage, improve maritime connectivity, support national exports and imports, and strengthen maritime ties between 海角直播 and Syria.
According to Mawani鈥檚 statement, the service launch also maximizes Jeddah鈥檚 port competitive value.
The development aligns with the authority鈥檚 strategy to improve the Kingdom鈥檚 standing in the global maritime connectivity index, optimize port operations, and strengthen the nation鈥檚 trade ties with international markets.
It also supports the country鈥檚 National Transport and Logistics Strategy 鈥 a comprehensive plan designed to transform 海角直播 into a global logistics hub, enhancing its position as a key international trade and transport center.聽
Mawani, which recently earned the bronze level in the 2024 King Abdulaziz Quality Award for the government sector, emphasized its role in advancing the development of Saudi ports through strategic partnerships with major international shipping lines. These efforts are enhancing the global standing of the ports, expanding maritime trade routes, and improving infrastructure and operational efficiency.
Earlier in February, Mawani introduced five new shipping services by Hapag-Lloyd and Maersk at Jeddah Islamic Port, King Abdulaziz Port in Dammam, and Jubail Commercial Port, aimed at strengthening the Kingdom鈥檚 ports and boosting their regional and global competitiveness.
The new services link these terminals to key international destinations, including Port Said in Egypt, Morocco鈥檚 Tangier, and Algeciras in Spain. The destinations also include Aqaba in Jordan, Jebel Ali in the UAE, and Mundra and Pipavav of India, as well as Salalah in Oman, with a combined capacity of 19,869 TEUs.
Jeddah Islamic Port has been chosen as the central hub for the 鈥淕emini鈥 collaboration between Hapag-Lloyd and Maersk, further cementing Saudi ports鈥 role as a logistics hub bridging three continents. This move enhances cargo-handling efficiency, supports trade growth, and drives economic development, Mawani said.
Oil Updates 鈥 crude up as investors weigh chance of US intervention in Iran-Israel conflict
Updated 3 min 56 sec ago
Reuters Arab News
BEIJING: Oil prices rose on Thursday after President Donald Trump gave mixed signals on potential US involvement in the Israel-Iran conflict, while the Federal Reserve left interest rates unchanged.
Brent crude futures rose 0.69 cents, or 0.9 percent, to $77.39 a barrel by 10:21 a.m. Saudi time, after gaining 0.3 percent in the previous session when high volatility saw prices fall as much as 2.7 percent.
US West Texas Intermediate crude for July was up 0.84 cents, or 1.12 percent to $75.98 a barrel, after settling up 0.4 percent in the previous when it dropped as much as 2.4 percent.
The July contract expires on Friday and the more active August contract was down 8 cents, or 0.11 percent, to $73.42 a barrel.
There is still a 鈥渉ealthy risk premium baked into the price as traders await to see whether the next stage of the Israel-Iran conflict is a US strike or peace talks,鈥 Tony Sycamore, market analyst at IG, said in a client note.
Goldman Sachs on Wednesday said a geopolitical risk premium of about $10 a barrel is justified given lower Iranian supply and risk of wider disruption that could push Brent crude above $90.
Trump on Wednesday told reporters that he may or may not decide whether the US will join Israel in its attacks on Iran. The conflict stretched into its seventh day on Thursday.
Direct US involvement would widen the conflict, putting energy infrastructure in the region at higher risk of attack, analysts said.
As a result of the unpredictability that has long characterised Trump鈥檚 foreign policy, 鈥渕arkets remain jittery, awaiting firmer signals that could influence global oil supply and regional stability,鈥 said Priyanka Sachdeva, senior market analyst at Phillip Nova.
Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries, extracting about 3.3 million barrels per day of crude oil.
About 19 million bpd of oil and oil products move through the Strait of Hormuz along Iran鈥檚 southern coast and there is widespread concern the fighting could disrupt trade flows.
Separately, the US Federal Reserve kept its interest rates steady on Wednesday but pencilled in two cuts by the end of the year. Chair Jerome Powell said cuts would be 鈥渄ata-dependent鈥 and that it expects accelerated consumer inflation from Trump鈥檚 planned import tariffs.
Lower interest rates would stimulate the economy, and as a result demand for oil, but that could exacerbate inflation.
Closing Bell: Saudi main index slips 1.15% to close at 10,591
MSCI Tadawul Index decreased by 11.84 points to close at 1,366.6
Parallel market Nomu lost 254.4 points to end at 26,203.84 points
Updated 18 June 2025
Nadin Hassan
RIYADH: 海角直播鈥檚 Tadawul All Share Index declined on Wednesday by 122.69 points, or 1.15 percent, to end at 10,591.13.
Total trading turnover of the benchmark index was SR6.22 billion ($1.66 billion), with 18 stocks advancing and 231 declining.
The MSCI Tadawul Index also decreased by 11.84 points, or 0.86 percent, to close at 1,366.6
The Kingdom鈥檚 parallel market, Nomu, reported drops, losing 254.4 points, or 0.96 percent, to close at 26,203.84 points. This comes as 30 stocks advanced while as many as 55 retreated.
Among the top gainers, BAAN Holding Group Co. rose 1.6 percent to SR36.85, while Advanced Petrochemical Co. added 1.26 percent to end at SR28.1.
Dallah Healthcare Co. and Naseej International Trading Co. gained 1.05 percent and 0.94 percent, respectively, closing at SR115.4 and SR74.90.
Saudi Tadawul Group Holding Co. also rose 0.87 percent to close at SR162.
Among the worst performers, National Co. for Learning and Education led losses with a decline of 7.53 percent to close at SR140.
Saudi Marketing Co. followed, shedding 7.04 percent to settle at SR15.32, while Ataa Educational Co. fell 5.85 percent to SR61.20.
Arabian Pipes Co. ended the session down 5.46 percent at SR5.54, and Saudi Reinsurance Co. edged 5.13 percent lower to SR42.55.
On the announcements front, Saudi National Bank announced its intention to fully redeem its SR4.2 billion Tier-1 capital sukuk at face value on June 30, marking the fifth anniversary of its issuance.
The sukuk, which was issued on June 30, 2020, with a total value of SR4.2 billion, will be redeemed at 100 percent of the issue price in accordance with its terms and conditions.
The bank confirmed that all necessary regulatory approvals for the redemption have already been obtained.
SNB closed Wednesday鈥檚 session 0.43 percent lower to reach SR34.35.
海角直播鈥檚 low-cost carrier flynas made its stock market debut, opening at SR77.50 and climbing to SR84.10 before retreating to a low of SR69.90. The stock closed at SR77.30, 3 percent below its IPO price of SR80.
海角直播 ranks 17th globally in competitiveness index as it outshines economic heavyweights聽
Listing driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms
Kingdom placed behind China in 16th and ahead of Australia in 18th place
Updated 18 June 2025
MOHAMMED AL-KINANI
JEDDAH: 海角直播 has maintained its spot in the top 20 of the World Competitiveness Ranking, ahead of global heavyweights like the UK, Germany and France.
The Kingdom secured 17th position on the list, driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms.
Issued by the International Institute for Management Development鈥檚 World Competitiveness Center, the ranking is widely recognized as a benchmark for evaluating how effectively countries utilize their resources to drive long-term economic growth.
海角直播 was placed just behind China in 16th and ahead of Australia in 18th place.
Although this marks a slight drop from 16th in 2024, 海角直播鈥檚 2025 ranking represents a significant improvement from 32nd in 2023 and 24th in 2022, underscoring its rising economic stature.
Infrastructure continues to show marked improvement. Basic infrastructure ranks seventh globally with a score of 67.6, up two positions. File/SPA
As part of Vision 2030, 海角直播 launched the National Competitiveness Center in 2019, with the organization now working with 65 government bodies to drive reforms centered on productivity, sustainability, inclusiveness, and resilience.
According to the World Competitiveness Center, the Kingdom needs to 鈥渃ontinue efforts to promote renewable energy and reduce carbon emissions鈥 and 鈥渃arry on enhancing overall competitiveness across multiple pillars.鈥
Improvement will also come if 海角直播 continues to 鈥渋nvest even more in human capital development across all economic sectors鈥 and push ahead with 鈥渙ngoing government endeavors to achieve the targets in the Saudi 2030 vision.鈥
The IMD report is one of the world鈥檚 most comprehensive competitiveness benchmarks, evaluating 69 countries across four pillars: economic performance, government efficiency, business efficiency, and infrastructure.
The ranking shows that GCC countries continue to demonstrate their growing economic strength and regional importance, with the UAE leading the group, securing fifth place globally, reflecting its diversified economy and strategic initiatives to attract investment.
Qatar follows in ninth place, supported by substantial infrastructure development and robust financial resources.
Bahrain was ranked 22, Oman came in at 28, and Kuwait was placed at 36, showing steady progress through structural reforms and sectoral investment despite ongoing challenges.
These rankings underscore the GCC鈥檚 ambition to strengthen global economic resilience and competitiveness.
Switzerland, Singapore, and Hong Kong lead the ranking, while Canada, Germany, and Luxembourg saw the most notable improvements among the top 20 economies.
Saudi focus
According to the IMD, 海角直播 has made progress in several key economic areas, although some aspects still require improvement.
On the economic performance indicator, the Kingdom ranks 17th globally with a score of 62.3. Its domestic economy scored 59.2, placing it 25th worldwide, an improvement of six positions from the previous year.
海角直播 ranked 12th globally in business efficiency with a strong score of 81.4. Shutterstock
International trade advanced three places to 29th with a score of 56.0, while global investment climbed four spots to 16th with a score of 57.8, signaling increased investor confidence.
However, the employment sector declined slightly, dropping three positions to 29th with a score of 55.6.
Inflationary pressures impacted the prices indicator, which fell eight places to 19th despite maintaining a relatively strong score of 60.7.
These mixed results reflect 海角直播鈥檚 ongoing efforts to strike a balance between growth and economic stability amid global and domestic challenges.
Public finance indicators remain solid, with a score of 69.5, placing the Kingdom 13th globally, despite a modest three-position drop.
Tax policy holds steady at 67.6 points and 12th place, with a similar three-rank decline. The institutional framework experienced a more pronounced decline, dropping seven places to 27th with a score of 58.6, indicating potential areas for reform.
In contrast, business legislation improved, rising two places to 13th with a score of 67.6, indicating regulatory progress. The societal framework remains a key challenge, ranking 55th with a score of 44.2, representing a nine-position decline, which highlights the need for continued social and structural development to support economic goals.
海角直播 ranked 12th globally in business efficiency with a strong score of 81.4. Productivity and efficiency showed further strength, scoring 66 and placing the Kingdom 15th, up six spots.
The labor market remains a key strength, ranking 9th despite a four-place drop, with a score of 64.2. The finance sector gained three ranks to 19th with 63.4 points, while management practices rose to 17th with a score of 64.
Attitudes and values remain a significant national asset, ranking third globally with a score of 81.6, reflecting a strong culture of resilience and ambition.
Infrastructure continues to show marked improvement. Basic infrastructure ranks seventh globally with a score of 67.6, up two positions. Technological infrastructure rose 10 places to 23rd with a score of 59.5, and scientific infrastructure improved nine spots to 29th with a score of 52.1.
Health and environment indicators gained slightly, moving up one place to 47th with a score of 47.5. Education declined marginally, down one position to 39th with a score of 55.4, signaling an area for continued focus.
Riyadh Air to launch new destination every 2 months as 787 deliveries near
Carrier is awaiting delivery of its initial aircraft to commence services
Riyadh Air secured necessary landing slots for its first destinations
Updated 18 June 2025
NADIN HASSAN聽聽
RIYADH: 海角直播鈥檚 Riyadh Air is gearing up to introduce a new international destination every two months once it begins operations, as the carrier prepares to receive its first Boeing 787 aircraft.
Riyadh Air, fully owned by the Public Investment Fund, is awaiting delivery of its initial aircraft to commence services, according to CEO Tony Douglas.
Speaking to Bloomberg, he said the airline requires two jets to initiate a round-trip route to each new destination, adding that the Saudi carrier aims to connect to 100 cities by 2030 as part of its long-term growth strategy.
This aligns with the Kingdom鈥檚 National Aviation Strategy, which targets doubling passenger capacity to 330 million annually from over 250 global destinations and increasing cargo handling to 4.5 million tonnes by 2030.
The carrier currently has four Boeing 787 Dreamliners in different stages of assembly at Boeing鈥檚 facility in Charleston, South Carolina. Operations are expected to begin once the first two aircraft have been delivered.
Wrapped up Day 2 at with more signings and milestones
Visiting ? Come see us at Chalet 294
鈥 Riyadh Air (@RiyadhAir)
Riyadh Air had initially planned to launch services in early 2025, but delays in aircraft handovers from Boeing have pushed back the timeline.
鈥淭he fact that these are in production probably brings my blood pressure down,鈥 Douglas said. 鈥淚 will actually not believe they have been delivered until the day after they have been delivered.鈥
Douglas also said Riyadh Air has secured the necessary landing slots for its first destinations, though he did not disclose which cities.
At the Paris Air Show this week, the airline announced an order for up to 50 Airbus A350 long-range jets, with deliveries expected to begin in 2030.
Riyadh Air has also placed orders for 60 Airbus A321neo narrowbody aircraft and as many as 72 Boeing 787s, including options.
Commenting on the Airbus order, Douglas said the decision was based on the aircraft鈥檚 capabilities and favorable commercial terms when compared with Boeing鈥檚 777X model. 鈥淚t was a very close call,鈥 he said.
The airline鈥檚 growth strategy reflects the Kingdom鈥檚 ambition to transform Riyadh into a global travel hub and position 海角直播 as a major player in international aviation.
Riyadh Air aims to contribute to the broader Vision 2030 goals by enhancing connectivity and promoting tourism across the Kingdom.
Saudi-based TIME Entertainment makes Nomu market debut
Listing underscores company鈥檚 maturity and readiness for future expansion
TIME Entertainment specializes in producing large-scale live events across various sectors
Updated 18 June 2025
Reem Walid
RIYADH: TIME Entertainment Co., a Saudi-based full-service live events and experiences management company, has officially begun trading on the Nomu parallel market, marking a significant step in its growth trajectory.
Chairwoman Ameera Al-Taweel described the listing as a strategic milestone that underscores the company鈥檚 maturity and readiness for future expansion.
鈥淲e have built a Saudi business model within the live events sector that meets global standards. The events sector is vast and diverse. Our experience represents a successful model that has been built based on a global vision, capped with a Saudi identity, and is distinguished by specializing in producing and organizing major live events managed by a multi-skilled team of some of the best events professionals globally.鈥 Al-Taweel said in a statement.
Al-Taweel also highlighted the company鈥檚 role as a trusted partner to government, semi-government, and private sector clients. 鈥淲e believe that we represent a national choice that executes major global events and constantly works,鈥 she added.
With great pride, we announce the listing of Time Entertainment (TIME) in the parallel market Nomu 鈥 a strategic milestone in our journey toward growth and expansion.
For us, the IPO is not an end, but the beginning of a new chapter 鈥 one that strengthens our position, broadens鈥
鈥 TIME Entertainment (@TimeEntSA)
CEO Obada Awad said the company is guided by a strategy rooted in sustainable growth and market responsiveness.
鈥淲e also place significant emphasis on sustainable operational improvement and diligent work to develop and launch premium and quality services that add real value to the market,鈥 he said.
TIME Entertainment specializes in producing large-scale live events across sectors such as sports, entertainment, culture, tourism, and conferences. It offers end-to-end production and management services, in addition to creative and consultancy expertise.
The company is also focused on crafting distinctive narratives grounded in Saudi culture and heritage, with the aim of sharing them with global audiences. Its goal is to deliver innovative, artistically rich, and high-quality experiences.
海角直播鈥檚 entertainment sector is rapidly emerging as a key pillar of the Kingdom鈥檚 economic diversification agenda. As the country moves away from its traditional reliance on oil, strengthening the entertainment industry is seen as critical to driving growth across multiple sectors.
A recent report by consultancy AlixPartners found that 33 percent of Saudi consumers plan to increase spending on out-of-home entertainment 鈥 well above the global average of 19 percent 鈥 highlighting strong local demand.
