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EVIQ Launches State-of-the-Art R&D Facility for Electric Vehicle Chargers in Saudi Arabia

The new facility will be used for testing a spectrum of chargers and software. SPA
The new facility will be used for testing a spectrum of chargers and software. SPA
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EVIQ Launches State-of-the-Art R&D Facility for Electric Vehicle Chargers in Saudi Arabia

The new facility will be used for testing a spectrum of chargers and software. SPA
The new facility will be used for testing a spectrum of chargers and software. SPA

EVIQ, the Electric Vehicle Infrastructure Company, a newly launched joint venture between the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC), said on Sunday it opened a research and development (R&D) facility in Riyadh that is a first-of-its-kind in the region.

The new facility will be used for testing a spectrum of chargers and software, to ensure the deployment of best-in-class equipment and related software, reinforcing EVIQ's commitment to quality, efficiency, and driving the evolution in the EV sector across the Kingdom of Saudi Arabia, said an EVIQ statement.

It will also give EV drivers in Saudi Arabia the confidence that EVIQ chargers have been thoroughly tested to the highest quality and safety standards for operating in Saudi Arabia.

"The launch of our R&D facility is a testament to our commitment to quality and sustainable development of the Kingdom’s EV infrastructure. Our state-of-the-art facility ensures that EVIQ remains at the cutting-edge of EV charging solution development, bringing users the optimal charging experience, and ensuring that every EV driver in Saudi Arabia has access to reliable and efficient charging solutions,” said EVIQ CEO Mohammad Bakr Gazzaz.

“This facility is a cornerstone in our strategy to support the Kingdom’s Vision 2030. By focusing on top-quality charger deployment and ensuring compatibility with a range of EVs, we are paving the way for the growth of a sustainable and advanced EV ecosystem in Saudi Arabia, further supporting the wider Saudi objectives.”
According to the statement, the new R&D facility plays a crucial role in EVIQ's mission to "deliver the highest quality EV charging solutions by thoroughly testing various types of chargers".

The facility is not just a testament to EVIQ's commitment to innovation, but also a significant step toward enhancing charger efficiency, reliability and compatibility, said the statement, adding that it serves as a hub for developing the expertise and knowledge in charger technology that will support the evolving needs of the electric vehicle market in Saudi Arabia.

The statement added that in alignment with Saudi Arabia's sustainability goals, "EVIQ is on track to deploy 5,000 chargers across 1,000 strategic locations by 2030. This ambitious plan highlights EVIQ's dedication to catalyzing the EV ecosystem in Saudi Arabia, heralding a new era of sustainable mobility".

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Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
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Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah Inspires the World.”

The platform, organized by the Holy Makkah Municipality, will feature 15 exceptional Ramadan evenings focused on dialogue, knowledge exchange, and cross-sector engagement.

Makkah Mayor Musad Aldaood said the platform redefines development from Makkah, where faith meets inspiration and values are transformed into a comprehensive civilizational experience.

He noted that the initiative reflects the ambitions of Saudi Vision 2030 and showcases Makkah to the world as a living model of creativity, leadership, and innovation.

The upcoming edition will host more than 65 speakers, including executive leaders and decision-makers from across all three sectors, alongside futurists, entrepreneurs, and leading voices in culture and inspiration from artists, writers, media professionals, and innovators.

The program targets 12 key sectors: technology and digital transformation, financial investment, communications and media, real estate development, transport and logistics, banking services, youth and sports, tourism and culture, hospitality and catering, Hajj and Umrah, the third sector, and healthcare.

Business

Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
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Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it as an authorized foreign investor to operate maritime agencies in the Kingdom's ports, reported the Saudi Press Agency.

The license is issued in accordance with the regulations outlined in the Maritime Agency Services, reflecting Mawani's commitment to boosting the efficiency of the maritime sector and improving the quality of operational services provided at ports.

It aims to attract global expertise and facilitate knowledge transfer within the Kingdom, aligning with international best practices in the maritime transport industry.

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector.

PIL, which operates from its regional headquarters in Riyadh, manages operations in 29 countries.

The move strengthens the Kingdom's position as a crucial logistics hub, in line with the National Transport and Logistics Strategy, while attracting more international shipping lines. It reinforces Saudi Arabia's role as a key link among three continents.

Business

IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
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IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo

Lebanon's economy has shown resilience despite conflicts in the region, with tourism fueling a bit of a rebound, but restoring growth will require comprehensive reforms, the International Monetary Fund said on Thursday.

IMF spokeswoman Julie Kozack said the global lender remains engaged in complex discussions with Lebanese ‌authorities following their ‌request for an IMF-supported ‌program ⁠in March 2025. The ⁠IMF sent a staff mission to Beirut earlier this month, said Reuters.

The talks have been focused on two big issues, she said, citing the need for banking sector restructuring and a medium-term fiscal ⁠strategy. "The economy has shown resilience ‌despite the impact ‌of conflicts in the region. It has had ‌a bit of a rebound ‌on the back of tourism from the strong diaspora," Kozack said.

"But at the same time, really restoring strong and sustainable growth will ‌require a comprehensive set of reforms to tackle some of the ⁠structural ⁠weaknesses that have really hampered Lebanon's economic performance for many years," she said. Reforms also are needed to attract international support to help Lebanon address its substantial reconstruction needs.

Kozack said Lebanon needs an updated medium-term fiscal framework that includes concrete measures to mobilize additional revenues for much-needed capital spending, as well as a sovereign debt restructuring to restore debt sustainability.