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New advanced logistics facility for Saudi’s Damman airport
SAL, which is a subsidiary of Saudi Arabian Airlines Corporation, is the main ‘cargo gate’ at the Kingdom’s airports and the only logistics entity that connects airlines with airports providing them with a number of services, including ground handling, e-commerce activities, land transportation, warehouse management and storage solutions, the statement points out.
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SoftBank profit wiped out by Vision Fund losses, second fund scaled back
Wednesday’s dismal results could further dampen investor enthusiasm for founder Masayoshi Son’s big bets on untested start-ups. While Son told a news conference SoftBank had turned a corner, he also said he has been forced to scale back a second Vision Fund while investing with only SoftBank’s own capital.
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As Egypt’s Population Hits 100 Million, Celebration Is Muted
Hitting 100,000,000 marked human plenty, certainly, but also an uneasy moment in a country gripped by worries that its exploding population will exacerbate poverty and unemployment, and contribute to the scarcity of basic resources like land and water.
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How Saudi Aramco is digitalising its operations
In this industry, which generates massive quantities of highly detailed traditional and digital information, data is integral to finding and maintaining long-term energy supplies, integrating refining and chemicals, and making energy more sustainable at every stage. With digitalisation taking place across the company’s different businesses, this volume is expected to increase exponentially.
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Sarah Al-Suhaimi, chairperson of the Saudi Arabian Stock Exchange
The Saudi Arabian Stock Exchange (Tadawul) recently reappointed Sarah Al-Suhaimi as chairwoman for the board of directors for a new three-year term.
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Saudi Arabia’s $93bn fund finalising strategy for infrastructure co-investments by April
Saudi Arabia’s National Development Fund, a 350 billion Saudi riyals (Dh342.7bn) investment vehicle, expects to finalise by April a strategy that will lay the framework for its co-investments in the kingdom’s infrastructure projects with private sector investors, its governor said. “We have teams that are developing that approach now,” Stephen Groff told The National on the sidelines of the Milken Institute Middle East and Africa Summit in Abu Dhabi on Tuesday.
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GAMI to Spur Tenfold Increase in Localization of Saudi Defense Spending
“Our present defense industry is nascent, with a huge potential,” he said. “Current local manufacturing is mainly focused on ammunition, light weapons, and armored vehicles. GAMI aims to [augment this] over the coming decade, and we have identified 11 priority sectors for localization, including defense electronics, guided munition, missiles and launchers, and unmanned aerial vehicles (UAV).
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Russian, Saudi firms discuss joint projects, $10 bln investment – RDIF
Russia's RDIF sovereign wealth fund said on Wednesday that Russian and Saudi companies have held discussions on possible joint projects as well as potential investment worth more than $10 billion. The discussions took place in Saudi Arabia as Russia and the Organization of the Petroleum Exporting Countries discussed further cooperation on the global oil market. Saudi Arabia, a leading voice in OPEC, has been trying to persuade Russia to join deeper oil production cuts. Moscow has said it will disclose its stance on that proposal in the coming days.
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Saudi justice ministry enables electronic exchange of briefs
The new system abridges about 70 percent of procedures and directs clients straight to the assigned notary’s office without having to go through the data entry hall.
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Saudi Arabia’s Prince Khaled bin Alwaleed sees a big future for plant-based foods
Prince Khaled bin Alwaleed, an avowed vegan and the founder and chief executive of KBW Ventures, told CNBC Tuesday that the companies he invests in have to be capable of generating revenue — but they need to have a positive impact on the world as well.
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