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PORTS-
King Abdulaziz Port in Dammam now boasts the largest fleet of electric trucks in the Middle East, after receiving 80 electric trucks under SAR 7 bn agreements between the Saudi Ports Authority (Mawani) and Saudi Global Ports (SGP), according to a statement from Mawani. SGP procured the trucks from Chinese heavy equipment manufacturer Sany under a contract they signed in June.
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TRADE-
Dubai + Geneva partner up to promote private sector investments: Dubai’s Chamber of Digital Economy has signed an MoU with the Geneva Chamber of Commerce, Industry, and Services to strengthen collaborations between companies in Dubai and Geneva, according to the Dubai Media Office. The agreement aims to promote investments in digital technologies, cleantech, health, education, commodities trading, and financing.
Details: Both parties will help Geneva-based companies benefit from Dubai’s position as an export hub, while also helping Dubai-based companies expand in Geneva in key trade and investment sectors. The agreement also specifies the creation of a platform aimed at cross-cultural training and enhancing skills for conducting business across various cultures and languages.
SUPPLY CHAINS-
SIDF and Taulia join Aramco to provide affordable financing to its supply chain: Aramco, the Saudi Industrial Development Fund (SIDF) and working capital management firm Taulia partnered to establish a supply chain financing program, according to a press release. The initiative aims to provide affordable financing to Aramco’s suppliers to improve liquidity, liquidity forecasting, and supply chain resilience. It is expected to unlock SAR bns in liquidity, optimize working capital, and enhance business relationships across Aramco’s supply chain.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Qatar Airways Cargo deploys AI-driven revenue management: Qatar Airways Cargo has deployed AI-powered revenue management solution Cargostack Optimizer from logistics solutions company Wiremind Cargo. (Statement)
- Iraqi Airways adds new UAE flights: Iraqi Airways is adding a weekly flight from Basra Airport to Dubai International Airport starting 3 November and till the end of the month. (Statement)
- Qatar Airways to add flights to South Africa route: Qatar Airways is increasing its flights to South Africa to 35 weekly flights; 12 flights to Cape Town, 18 to Johannesburg, and five to Durban via Mozambique, from mid-December to mid-January. (ATTA)
