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Doha: Widam Food Company, a Qatari publicly-traded company, reduced its losses by 39.4% in Q1 of 2024. They recorded a loss of 10,529,376 in the first three months of 2024, compared to a loss of QR 17,372,868 during the same period of 2023.
The company said in its earnings released published on the Qatar Stock Exchange’s website today that earnings per share amounted to QR 0.06 for the first quarter of 2024, compared to a loss of QR 0.10, for the same period last year.
Source: Qatar News Agency
Doha: Mannai Corporation’s net profit grew by 130.6 percent, reaching a net profit of QR 28,033,000 in Q1 of 2023 in comparison to a Net Profit of QR 12,153,000 for the same period of the previous year.
Published on the Qatar Stock Exchange website, Mannai Corporation’s interim financial statement for the three-month period ending March 31, 2024, indicated that the Earnings per Share (EPS) amounted to QR 0.06 versus the Earnings per Share (EPS) of QR 0.02 for the same period in 2023.
Source: Qatar News Agency
Doha: The net profits of Mazaya Real Estate Development fell by 30.6 percent during the first quarter of 2024 to reach QR 7,075,236 compared to QR 10,199,223 for the same period in 2023.
In its financial disclosure published on the Qatar Stock Exchange (QSE) website, the company indicated that the earnings per share reached QR 0.007 in the first quarter of 2024 compared to QR 0.010 for the same period in 2023.
Source: Qatar News Agency
Riyadh, The first container shipment was transported by rail from Jubail Commercial Port to Riyadh Dry Port on Saturday, April 27, a step that will help improve transportation and logistics efficiency, a press release from the Saudi Ports Authority, Mawani, said.
The shipment of 78 TEUs was transported on the railway connecting Jubail Commercial Port with the East Train Network, which has a maximum capacity of 140 TEUs per trip. It was possible due to the collaboration between Mawani, the Zakat, Tax, and Customs Authority (ZATCA), Saudi Arabia Railways (SAR), and the Mediterranean Shipping Company (MSC).
According to the release, this cooperation between Mawani and other relevant authorities, notably SAR, contributes to achieving an integrated transport of containers, bulk materials, and general cargo.
SAR networks connect Riyadh Dry Port with King Abdul Aziz Port in Dammam, King Fahd Industrial Port in Jubail, Jubail Commercial Port, and Ras Al-Khair Port. This adds a “competitive advantage” to those port
s and contributes to better and faster loading and unloading services.
The railway increases connectivity, and the efficiency of logistics operations, and consolidates the Kingdom’s position as a global logistics hub bridging three continents. It also improves the quality of services provided at the ports, offering innovative logistics services that enhance the efficiency of exports and imports.
“This initiative will provide logistical support to industrial and commercial ports in the Kingdom, enhancing their competitiveness and supporting trade by offering safe and sustainable solutions that reduce harmful emissions and help preserve the environment,” said the release.
Mawani entered a partnership agreement with SAR in early April to establish a unified framework and adopt a general organizational and legislative model for cargo transportation to and from its ports via railways. This aligns with the goals of the National Transport and Logistics Strategy and Saudi Vision 2030.
Source: Saudi Press Agency
Riyadh, Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef stressed that the Kingdom took advantage of various technologies to achieve growth in the industrial and mining sectors, and that technology enables business owners to be productive and effective.
Taking part in a panel discussion titled “Where Manufacturing and Tech Collide”, held as part of the World Economic Forum’s (WEF) Special Meeting in Riyadh today, Al-Khorayef talked about the transformation witnessed by the manufacturing sector over the past 25 years, which has served many countries, including the Kingdom, and about advanced solutions to lower the carbon footprint, stressing the importance of developing human capital by helping youths interested in technological advancements.
The minister also tackled infrastructure development and preparing regulations and guidelines to secure reliable use of information and data usage, and cybersecurity, and future programs that target 4,000 factories.
He stressed the importance o
f developing an economic system that takes advantage of technologies like digital twin and 5G for operating and managing the mining sector, especially in remote areas.
Al-Khorayef also spoke about the Saudi industrial base, which has the largest number of active entities and plays a main role in turning ideas into real solutions, making use of technologies that contribute added value to countries.
Source: Saudi Press Agency
Beijing, Minister of Municipal, Rural Affairs, and Housing Majid bin Abdullah Al-Hogail, Chairman of the Housing Program Committee, met with the Minister of Housing and Urban-Rural Development of China, Ni Hong, in Beijing to discuss ways to strengthen cooperation between Saudi Arabia and China in areas of mutual interest. This meeting was attended by the Saudi Ambassador to China, Abdulrahman bin Ahmad Al-Harbi.
During the meeting, the two ministers discussed opportunities for cooperation in developing housing policies and programs, including exchanging experiences and best practices in city planning, sustainable urban development, investing in construction technology, and exploring investment opportunities to establish real estate and infrastructure projects within residential communities.
The two ministers reviewed successful experiences in providing housing solutions and options, increasing citizens’ opportunities to own homes, and exchanging experiences in urban management and its best practices. The M
inister of Municipal, Rural Affairs, and Housing emphasized the importance of strengthening the partnership and aligning the Kingdom’s Vision 2030 with the Belt and Road Initiative. He stated that this alignment will positively impact the economic status and aspirations of the Kingdom and China globally. He also expressed the intention of attracting the best Chinese construction companies to benefit from their expertise in enhancing housing units in various regions of the Kingdom in order to achieve the goals of the housing program-one of the programs of the Kingdom’s Vision 2030-by providing various housing and financing options for citizens.
Source: Saudi Press Agency