Category: Market

Hanover, Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef held meetings with officials from German global companies during his visit to the Hannover Messe 2024 Fair.

Alkhorayef, who also is chairman of the board of directors of the Saudi Exports Development Authority, met with the Deutsche Messe chairman of the managing board and CEO of the Deutsche Messe Technology Academy.

He met with the Knauf Group managing partner, the founder and chairman of the V-Line Group, and other private-sector officials participating in the fair.

In addition, the minister inaugurated the ministry’s pavilion at Hannover Messe, which shines under the slogan “Saudi Made.”

He checked on the national companies taking part in the fair, which spans from April 22 to 26, to showcase their pioneering technological innovations in industry.

Several bodies belonging to the industry and mineral resources sectors in the Kingdom participated in the fair, including the Saudi Exports Development Authority, the Saudi EX
IM Bank, and the Ministry of Investment.

The Small and Medium Enterprises General Authority “Monsha’at,” the Saline Water Conversion Corporation (SWCC), and several national industrial companies also participated.

Source: Saudi Press Agency

Doha: Gulf Warehousing Company’s net profit for the three-month period ending March 31, 2024 decreased by 17 percent to QR 50.9 million in comparison to net profit QR 61.5 million for the same period of the previous year.

The company’s financial statement posted on Qatar Stock Exchange website said that its Earnings per Share (EPS) amounted to QR 0.087 versus Earnings per Share (EPS) QR 0.105 for the same period in 2023.

Source: Qatar News Agency

Doha: Qatar Electricity and Water Company (QEWC) recorded a net profits of QR 318 million in the first quarter of 2024, compared to QR 401 million for the same period in 2023, a 21 percent decrease.

The company stated that the earnings per share for the first quarter of 2024 amounted to QR 0.29, compared to QR 0.36 for the same quarter of 2023.

The company’s revenues for the first quarter reached QR 687 million, compared to QR 658 million for the same period in 2023, representing a 4 percent increase.

QEWC enjoys excellent financial status according to Moody’s, with a strong credit rating of ‘A1’ and a stable outlook.

QEWC was established in 1990 with a capital of QR 1 billion and is listed on the Qatar Stock Exchange.

Source: Qatar News Agency

Doha: HE Chairman of the Real Estate Regulatory Authority Eng. Khalid bin Ahmed Al Obaidli met on Tuesday with HE Ambassador of the Republic of Singapore to the State of Qatar Wong Chow Ming.

The meeting discussed aspects of bilateral relations between Qatar and Singapore in areas of common interest and ways to enhance and support aspects of cooperation in the field of real estate regulation.

Source: Qatar News Agency

Hanoi, The Ambassador of the Kingdom of Saudi Arabia to the Socialist Republic of Vietnam, Mohammed bin Ismail Dahlawi, met today with the Vietnamese Minister of Finance, Mr. Ho Duc Phoc, at the ministry’s headquarters in Hanoi.

During the meeting, they discussed the relations between the two countries, ways to enhance them, and issues of common interest.

Source: Saudi Press Agency

inister Jazouli Highlights Morocco’s Investment Attractiveness in Germany

Berlin – Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli, launched the Roadshow activities in Germany on Monday in Berlin, beginning a series of meetings with German officials and economic players.

Jazouli, leading a Moroccan delegation including Ambassador of the Kingdom of Morocco to the Federal Republic of Germany, Zohour Alaoui, Director General of the Moroccan Investment and Export Development Agency (AMDIE), Ali Seddiki, Director General of Investment and Business Climate at the Ministry, Ghali Skalli, and Director of Investment, Hicham Chaoudri, visited Siemens Energy’s new electrolyser plant.

The Minister then met Director for Germany at Rolls Royce, the aerospace and automotive manufacturer, Stephanie Willmann, before holding talks with Peter Ramsauer, member of parliament for Bavaria and president of the German-Arab Chamber of Commerce.

The Minister, accompanied by
Ambassador Alaoui, then visited the headquarters of the Federation of German Chambers of Industry and Commerce (DIHK), where they held talks with one of the Board members, Ilya Nothangel, in the presence of DIHK experts Louise Maizières and Elisabeth Strahl, on topics including German-Moroccan economic relations, investment and hydrogen.

On this occasion, Nothangel stressed the “vital” importance of building strong ties with reliable friends and partners, particularly in the current context of economic difficulties.

The first day of the Roadshow, which runs until next Thursday, ended with a meeting with Bärbel Kofler, Parliamentary State Secretary at the Federal Ministry for Economic Cooperation and Development.

During his various meetings, the Minister addressed key topics including German-Moroccan economic relations, investments and hydrogen, highlighting the importance of the Morocco Offer for the future of energy supply and cooperation between the two countries.

Kofler expressed her satisfaction at th
e visit of the Moroccan delegation, noting the importance of exchanges with the Kingdom on subjects crucial to sustainable development, such as renewable energies, green hydrogen and electric mobility, as well as investment in infrastructure.

Source: Agence Marocaine De Presse