COSCO SHIPPING Chancay Port commenced trial operations on 14 November, marked by the successful unloading of new energy vehicles and other transportation products from COSCO SHIPPING HONOR and COSCO TENG FEI at the Peruvian port. The maiden voyage of COSCO TENG FEI, carrying 2,756 vehicles, embarked from China’s port of Shanghai to Chancay and other…
RIYADH: The Industrial Development Fund provided SR12 billion ($3.19 billion) in financing to the Kingdom in 2024, boosting its global competitiveness, according to leading minister. Speaking during a panel discussion at the Budget Forum 2024, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted the vital role of financing in driving industrial development. “The Industrial Development Fund…
RIYADH: Saudi Arabia ramped up its research and development spending to SR22.61 billion ($6.02 billion) in 2023, marking a 17.4 percent increase from the previous year, according to official data. The General Authority for Statistics reported a rise in R&D personnel, with the workforce reaching 49,337 by the end of 2023, up 12.2 percent year…
DUBAI: Skincare and makeup brand Flormar is planning to triple the number of its stores in Saudi Arabia over the next four to five years to meet the demand of a burgeoning and increasingly competitive market. For the latest updates, follow us on Instagram @jarinfo Established in Milan, Italy, in the late 1950s, the company…
JEDDAH: In a move aimed at boosting tourism, Saudi Arabia will begin offering refunds on value-added tax for eligible purchases made by tourists starting in 2025, the government announced. The Zakat, Tax, and Customs Authority proposed changes to the VAT Implementing Regulations in August, which were open for public consultation via the Istitlaa platform until…
The new transport vessel, which has been named “Yoko”「ようこう」 (with pennant number 4101), entered the water in a ceremony held at Naikai Zosen’s Setoda shipyard in Onomichi City of Hiroshima Prefecture on the day. Yoko in Japanese means sunshine, thus conveying a wish for a safe voyage flooded with sunlight. The LSV is about 120 meters long, has a…
