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Volkswagen to build new EV battery system factory in China
Volkswagen AG said on Thursday it is building a new electric vehicle (EV) battery system factory in eastern China's Hefei city which will start production in 2023.
The German automaker is building a factory for electric vehicles under a…
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King Salman Park awards $1bn construction contracts
The King Salman Park Foundation has awarded contracts worth SR3.847 billion ($1 billion) to a group of national companies to implement parts of the King Salman Park project, coinciding with the start of construction work, Al Eqtisadiah…
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NEOM to see increase in construction projects
Saudi Arabia is working to increase the construction of projects in its NEOM megaproject, CNBC Arabia reported, citing sources.
The state-owned company plans to offer tenders for building labor cities accommodating up to 100,000 workers,…
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Egypt’s B2B Marketplace Cartona raises $4.5m Pre-Series A
Cartona, the Egypt-based B2B platform connecting retailers to manufacturers and wholesalers, has successfully raised $4.5 million in its latest funding round, led by Global Ventures, MAGNiTT reported.
Kepple Africa Ventures, T5 Ventures,…
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World’s largest eco-tourism project, TRDSC, to takeover its neighbor
Saudi Arabia’s Public Investment Fund is combining two giga project developers on the Red Sea coast to “leverage synergies” as the Kingdom goes ahead with ambitious tourism goals.
The consolidation deal will see The Red Sea Development…
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The International Monetary Fund refers to the importance of the private sector and the disadvantages…
The International Monetary Fund published a report in which it indicated the weak performance of the public sector and government institutions, compared to the performance of the private sector, which is considered the most efficient to…
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The Organization for Cooperation and Development issues new forecasts for the performance of global…
The Organization for Economic Cooperation and Development warned of an "uneven" recovery in the global economy, as it lowered its growth forecasts for the world and the United States for 2021, while raising them for Europe.
The global…
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Putin: The Russian economy has recovered despite the fluctuations in global markets
Russian President Vladimir Putin praised the performance of the Russian economy and stated that the Russian economy has recovered even though the situation in global markets remains volatile and complex.
"Recently we have been saying that…
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American Express joins Amazon network to benefit KSA cardholders
Credit card giant American Express has signed a deal with Amazon Payment Services, expanding cardholders’ use for their online payments in Saudi Arabia.
Under the deal, Amex cardholders in the Kingdom will now be able to use their cards…
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IAEA warns of major development of North Korea’s nuclear program
Rafael Grossi, director general of the International Atomic Energy Agency, confirmed that North Korea is making progress with its nuclear program "at full capacity."
Grossi said during an annual meeting of the member states of the…
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