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SHIPPING+MARITIME-
Mawani adds new shipping service to Jubail: Saudi Ports Authority (Mawani) has added a new weekly service, operated by Hong Kong-based Orient Overseas Container Line (OOCL), to Jubail Commercial Port, connecting it to the UAE’s Abu Dhabi and Jebel Ali ports, and Kuwait’s Shuwaikh port, according to a Thursday statement. The new service offers a capacity of up to 3.5k TEUs and represents the eighth addition to Mawani’s ports so far this year, the statement also said.
EARNINGS-
Jarir Marketing (Jarir Bookstore) net income fell 11.5% y-o-y to SAR 219.3 mn in Q1 2024on the back of lower margins on smartphones, the leading bookstore chain said in a disclosure to Tadawul. Revenues were down 2.5% y-o-y to SAR 2.6 bn due to lower sales from its computer and office supplies segments.
AGRICULTURE-
Tadco to establish hydroponic greenhouses for Neom food company: Saudi Arabia’s Tabuk Agricultural Development Company (Tadco) has inked an MoU to plan, develop construct, and operate hydroponic greenhouses for Topian, Neom’s food company, according to a statement on Thursday. The greenhouses will be located on 100 hectares of land on Tadco’s site in Saudi Arabia’s Tabuk region, and it will be used for the production of fruits and vegetables.
About Topian: Neom launched Topian in collaboration with the Ministry of Environment, Water, and Agriculture in December 2023. Topian focuses on climate-resistant agriculture, regenerative aquaculture, and sustainable food supply
INS-
Saudi EXIM signed a reins. agreement with the Swiss Export Credit Agency (Serv) to boost ins. coverage for Saudi non-oil exports, it said in a post on X on Thursday. The agreement comes days after Saudi EXIM inked a number of reins. agreements with global reins. firms led by the world’s second biggest reins. company Swiss Re. The reins. treaties come under efforts by Saudi EXIM to open new markets to Saudi exporters, its CEO Saad Al Khalab told Aleqtisadiah.
REAL ESTATE-
Thimar Development ventures into real estate: Agriculture firm Thimar Development has set up a new arm for real estate investments, it said in a disclosure to Tadawul. Thimar Development will own 100% of Thimar Towers Development and Real Estate Co, which will be based in Riyadh.
