SAR Signs Contract with Major Consumer Goods Manufacturer to Transport Products via Railway

Riyadh: The Saudi Arabia Railways (SAR) signed a contract with Ismail Abudawood and Procter AND Gamble (PANDG), one of the largest consumer goods manufacturers, to transport goods from PANDG’s factory in Dammam to its customers in Riyadh.

The contract was signed by SAR’s Senior Vice President of Freight, Eng. Badr Al-Atni, and on behalf of the company, Chief Operating Officer of Supply Chain and Logistic Network Operations, Eng. Ahmed Banan.

This contract aims to utilize railway transport services to expedite the company’s product transportation and enhance operational efficiency by leveraging the suitable and reliable logistical solutions provided by SAR for domestic product transport.

The contract will help reduce truck traffic on highways between Dammam and Riyadh, lower carbon emissions, and preserve road infrastructure and safety in line with the goals of the National Transport and Logistics Strategy (NTLS) and the Saudi Vision 2030.

Source: Saudi Press Agency

ROSHN Partners with SIMAH to Boost Transparency and Enable More Home Ownership Across the Kingdom

Riyadh: ROSHN Group, a national real estate developer and PIF-owned giga-project, said in a press release issued today that it had signed an agreement with the Saudi Credit Bureau (SIMAH) to access credit rating services, boost transparency, and improve its customers’ house purchasing experience.

As per the agreement, SIMAH, through its subsidiary company and consultancy arm Qarar, will provide ROSHN with essential services, including credit rating products drawn from over 400 key data providers.

ROSHN’s partnership with SIMAH reflects its commitment to transparency and due diligence, in-line with its core corporate values: trust, integrity, and responsibility. The agreement will enable the next generation of Saudi homeowners to make informed financial decisions based on their credit history and scoring.

The partnership will further accelerate ROSHN’s progress toward its goals to empower Saudis looking to buy a house, increase home ownership, and transform urban living, in line with the goals of Saudi Visi
on 2030.

Source: Saudi Press Agency

Al-Sudani directs to expedite the completion of the registration of Kurdistan Region employees’ data and avoid delaying their salaries

Baghdad, Prime Minister Muhammad Shiaa Al-Sudani directed, today, Monday, to expedite the completion of the registration of Kurdistan Region employees’ data and avoid delaying their salaries.

During his chairmanship of a meeting devoted to following up on the measures taken to localize the salaries of Kurdistan Region employees, Al-Sudani confirmed, according to a statement by his office, that: proceeding with the implementation of the Federal Court’s decision issued on February 21, 2024, which stipulated obligating the federal government and the regional government to localize the salaries of public sector employees working within the Kurdistan Region.

The statement indicated that Al-Sudani followed up on implementing procedures with the Central Bank of Iraq and government banks in this regard.

Al-Sudani stressed that the federal government is concerned with caring for employees of the Iraqi people wherever they are, and ensuring their rights, in accordance with what is approved by the law and the constit

Source: National Iraqi News Agency

Roads General Authority’s Road Code to Serve as Reference for Sector Entities in the Kingdom

Riyadh: Under the patronage of the Minister of Transport and Logistics Services and Chairman of the Board of Directors of the Roads General Authority, Eng. Saleh Al-Jasser, the authority has launched the Saudi Road Code, which is a technical reference targeting all entities responsible for roads in the Kingdom.

The code is designed to provide entities such as ministries, regional development and city development authorities, and regional, city and governorate municipalities with the information needed to plan, design, build, operate, and maintain all types of roads in the Kingdom.

The code sets specific levels of safety, security, economic efficiency, environment protection, and sustainability.

The launch of this national code underscores the role of the authority as a government body overseeing and regulating the entire road network in Saudi Arabia.

Its role entails developing policies, regulations and systems regulating road construction and maintenance.

The authority, in partnership with all relevant
entities, prepared the Saudi Road Code according to the best global practices, ensuring that it contributes to achieving the objectives of the road sector strategy, which focuses on safety, quality, and traffic density, with the aim of increasing the safety and sustainability of roads led by national expertise, improving the quality of the road network and the user experience, and encouraging innovation.

The need for the code arose from the multiplicity of entities implementing the road network in the Kingdom and the multiple specifications and policies each entity follows. A specific road code takes into consideration the terrain in different regions, and sets specific standards of safety, security, quality, environment, and sustainability.

It took specialized national personnel and numerous global road sector experts 18 months to prepare the Saudi Road Code. A steering committee including many stakeholders was also formed to prepare this code, to ensure that it serves the development and strategic plans o
f these entities.

The Saudi Road Code comprises 25 protocols to be observed in road planning and preliminary studies; they concern road, bridge, and tunnel design and construction; traffic engineering and road safety; environmental aspects, and requirements for autonomous vehicles.

The authority seeks to organize and supervise the road sector in the Kingdom by setting the necessary policies and standards for road design, construction, and maintenance. The authority aims to achieve the road sector strategy targets, focusing on safety, quality, and traffic density in order to rise to the sixth global rank in road quality and reduce fatalities to less than five cases per 100,000 by 2030.

Source: Saudi Press Agency

Kurdistan Region: We deposited more than 85 billion dinars in the federal government’s account

Baghdad, The Ministry of Finance and Economy of the Kurdistan Regional Government announced today, Monday, the deposit of a portion of the region’s internal revenues for the month of February in the bank account of the Ministry of Finance.

The Kurdistan Finance Ministry explained in a statement that it had deposited an amount of (85,199,634,000) dinars of internal revenues for the month of February 2024, in cash, in the bank account of the federal government in the Erbil branch of the Central Bank of Iraq, amounting to 50 % of tax and customs revenues in the Kurdistan region for the month of February.

It added, “This came according to the monthly amended balance sheet reports.”

Source: National Iraqi News Agency

Construction of Premium Diriyah Square Office Space Starts

Diriyah, The Diriyah Company said in a press release issued today that it has started the construction of a premium office development on Diriyah Square, further enhancing its diverse infrastructure offerings to the business community.

The five low-rise office buildings, designed with sustainability in mind, will offer nearly 39,000 square meters of gross leasable area (GLA), and a total gross floor area (GFA) of almost 47,000 square meters, as well as approximately 1,000 parking spaces and a kindergarten.

Reflecting the timeless principles of Najdi architecture, the facade of the buildings will embody Diriyah’s 300-year heritage.

The construction will accommodate around 4,000 individuals, offering plenty of natural light, outdoor areas, and flexible workspaces.

Tenants will also benefit from the proximity to the many amenities on Diriyah Square, the newly announced precinct with 400 retail outlets, diverse dining options, recreational facilities, and entertainment venues. Nearby luxury hotels like Baccar
at, Corinthia, Armani, and Orient Express will offer premium hospitality services, ideal for corporate functions.

Diriyah Company Group CEO Jerry Inzerillo said: “Our commitment lies in building a thriving new city in Diriyah, one that honors its rich history and fosters a vibrant community. Central to this vision is the creation of top-notch commercial spaces, essential for cultivating Diriyah into a dynamic business hub poised for growth.’

Source: Saudi Press Agency

Three Asian countries heading towards a free trade agreement

Baghdad, Today, Monday, the leaders of South Korea, Japan, and China held a tripartite summit in Seoul, the first since December 2019, regarding joint free trade.

According to the South Korean Yonhap News Agency, during the meeting, the three leaders discussed ways to enhance cooperation in several areas: economy and trade, sustainable development, health issues, science and technology, disaster management and safety, and people-to-people exchanges.

The leaders of South Korea, China and Japan also announced, in a joint statement following the summit, that they will seek to reach a tripartite free trade agreement and will work to “accelerate negotiations.”

They said: ‘We will continue discussions to accelerate negotiations on a tripartite free trade agreement,’ provided that it is ‘free, fair, comprehensive, and beneficial to the parties.’

Source: National Iraqi News Agency

Minister of Economy and Planning Meets OFID’s Director General

Vienna, Minister of Economy and Planning, Faisal bin Fadhil Alibrahim, met with the Director General of the OPEC Fund for International Development (OFID), Dr. Abdulhameed Abdulhamid Al Khalifah, during his official visit to the Republic of Austria.

During the meeting, they discussed issues of mutual interest and reviewed OFID’s various initiatives. The Saudi Ambassador to the Republic of Austria, Dr. Abdullah bin Khalid Tawlah, attended the meeting.

Source: Saudi Press Agency