Libya News

Riyadh: Minister of Transport and Logistic Services Eng. Saleh bin Nasser Al-Jasser participated in the Saudi-Estonian Roundtable Meeting, in the presence of the Saudi ambassador to the Republic of Estonia, Nisreen bint Hamad Al-Shibel, and representatives from the Estonian government and private sectors.

During the meeting, participants reviewed several national achievements in various international indicators in the transport and logistics sector.

They also discussed investment opportunities and partnership prospects between the public and private sectors in transport and logistics.

Additionally, the meeting focused on new and innovative opportunities and projects to enhance the economies of both the Kingdom and Estonia.

Source: Saudi Press Agency

Gold prices stabilized Wednesday, as traders awaited inflation data in the United States of America, which could provide evidence on the path of interest rates.

Spot gold was stabilized at USD 2,357.35 per ounce.

US gold futures rose 0.1% to USD 2,362.80 per ounce.

Spot silver fell 0.1% to USD 28.57 per ounce, and palladium increased 1.3% to USD 990.06.

Platinum rose 2.2% to USD 1,053.75, recording the highest level in almost a year.

Source: Qatar News Agency

Doha: Doha, May 2024: Qatar Free Zones Authority (QFZ) and Siemens Energy, headquartered in Germany, have signed a Memorandum of Understanding (MoU) on the side-lines of QFZ’s participation in Qatar Economic Forum, which aims to facilitate the establishment of a state-of-the-art service center within Qatar’s Ras Bufontas free zone.

The MoU was signed by CEO of Qatar Free Zones Authority (QFZ) HE Sheikh Mohammed bin Hamad bin Faisal Al-Thani, and Managing Director of Siemens Energy Qatar and Siemens Energy Kuwait Herbert Klausner, in a ceremony attended by senior executives from both entities. The signing took place at the Qatar Economic Forum venue – Raffles Doha.

On the occasion of the signing, HE Sheikh Mohammed bin Hamad bin Faisal Al-Thani said: “This MoU with Siemens Energy will facilitate the establishment of a service center for the maintenance and repair of rotating equipment here in the free zones in Qatar, and is a testament to QFZ’s robust infrastructure and strategic location. The facility at R
as Bufontas free zone will be a regional service hub for Siemens and other original equipment manufacturers (OEMs) across the Middle East and the Asia Pacific regions in the energy sector. By welcoming Siemens Energy’s to our free zones, we will be integrating advanced technological solutions and cultivating local expertise in process innovation around high-speed balance technology and other digital solutions through client training. This partnership will encourage a broader collaboration between Siemens Energy and QFZ on innovative and sustainable solutions in the energy sector, aiding our mission to foster a high-tech industrial environment supporting sustainable economic growth and diversification in alignment with the goals of Qatar National Vision 2030.” The new facility will cater to long-term maintenance contracts such as the North Field Production Sustainability (NFPS) maintenance contract as well as being a regional hub for Medium Gas Turbines SGT-700 across Asia Pacific and the Middle East. This sta
te-of-the-art facility will conduct process innovation, provide personnel training to customers, and develop digital solutions for monitoring rotating equipment. This holistic approach not only supports the technical needs of the industry but also contributes to the skills development of the workforce, reinforcing the strategic objectives of QFZ in creating an environment of continuous innovation and industry leadership.

For his part, Herbert Klausner commented saying: “We are delighted today to make this strategic partnership with QFZ. The MoU signifies more than a new facility; it is a bridge between Siemens Energy’s global expertise and Qatar’s visionary economic strategy. The center will not only serve as a critical hub for equipment maintenance and repair but will also drive innovative solutions that optimize energy management. Our aim is to elevate the standards of service excellence in the energy sector and contribute to the region’s economic resilience by enhancing operational efficiencies.” The part
nership with Siemens Energy distinctly advances QFZ’s overarching objectives to enhance its industrial ecosystem and technological infrastructure. The establishment of the regional service center will not only fortify Qatar’s capabilities in the critical energy sector but will also align with QFZ’s mission to curate a dynamic business environment that attracts leading global enterprises. As QFZ continues to expand its partnerships and develop state-of-the-art facilities, it cements its position as a critical hub for innovation and industrial excellence in the region, driving sustainable development and economic resilience.

Source: Qatar News Agency

Doha: The general index of Qatar Stock Exchange (QSE) rose 61.44 points, or 0.64%, at the beginning of trading on Wednesday, reaching 9,707 points, compared to yesterday’s closing.

The general index was supported by a rise in Transportation by 1.57%; Industrials by 0.72%; Banks and Financial Services by 0.47%; Insurance by 0.38%; and Real Estate by 0.18%. On the other hand, Telecoms dropped by 0.10%; while Consumer Goods and Services was flat.

At 10:00 am, 52.777 million shares were traded in 3,064 transactions valued QR 97.989 million.

Source: Qatar News Agency

Doha: Chairman of the Real Estate Regulatory Authority Khalid Ahmed Al Obaidli said Wednesday that Qatar’s huge real estate development over the past years was thanks to legislation and large government investments in infrastructure projects.

Al Obaidli was speaking at a panel held as part of the 4th Qatar Economic Forum with the aim of highlighting the latest ideas and technologies that contribute to reshaping the real estate sector, and the best ways to build healthy urban environments and vibrant communities around the world.

He also ascribed the great real estate growth to the opportunities provided by the Qatar National Vision 2030 in terms of the recovery of the real estate market in the country.

He said that Qatar has been able to achieve first-class real estate infrastructure, and the next stage will be to activate this infrastructure by attracting the appropriate partners, talents, and appropriate industries, such as data centers and warehouses, in order to use them to meet future demands and nee
ds.

For this purpose, Doha will bring in international companies to for investing and building private portfolios, he added.

He indicated that the challenges facing the sector are being dealt with by launching a number of initiatives that contribute to attracting foreign investments, highlighting in this regard that the Authority is in the process of organizing a real estate forum that will be held next October to promote the real estate sector and discuss procedures and legislation and develop recommendations to advance the sector.

During the session, real estate and infrastructure investors and experts presented their visions regarding the sectors growth opportunities in different environments, reviewing aspects of their companies experiences in the GCC countries, the US, Singapore, and South Korea.

Source: Qatar News Agency

Jordan’s tourism income amounted to $2.1 billion during the first four months of 2024, marking a decrease of 4.9%, compared to the same period last year, according to data issued by the Central Bank of Jordan (CBJ).

The CBJ figures also showed that tourism income went down last April by 2.6%, compared to the same month last year, totaling $529 million, according to Jordan News Agency (Petra).

Tourism income is one of the main pillars fueling the Jordan’s foreign reserves, besides remittances and foreign investments. Jordan’s foreign currency reserves have reached levels of $18 billion in 2023.

Source: Qatar News Agency