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SAR Signs Agreement with Maersk to Increase Number of Containers Transported between Dammam, Riyadh

SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab signed the three-year contract
SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab signed the three-year contract
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SAR Signs Agreement with Maersk to Increase Number of Containers Transported between Dammam, Riyadh

SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab signed the three-year contract
SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab signed the three-year contract

Saudi Arabia Railways (SAR) has signed a contract with the sea shipping company Maersk to increase the number of containers transported on SAR trains between King Abdulaziz Port in Dammam and Riyadh Dry Port.
SAR CEO Bashar Khalid Al-Malik and Maersk Saudi Arabia CEO Mohammad Shihab signed the three-year contract based on which the number of containers transported through the east train increase, safe and lasting transportation solutions are provided and the Kingdom’s competitiveness grows, helping it realize its strategic goals and boost the Kingdom's global Logistics Performance Index (LPI) in a way that aligns with Saudi Vision 2030.
The contract will also help increase operational efficiency, decrease the number of trucks between Dammam and Riyadh cities, reduce carbon emissions, and maintain road infrastructure.
Al-Malik stressed that such contracts improve the shipping sector, and reaffirmed SAR's dedication to providing safe and creative solutions to enhance operational efficiency at King Abdulaziz Port in Dammam and Riyadh Dry Port, thus improving the overall transportation sector.
Shihab said the contract is a step toward finding cooperative solutions, between Maersk and SAR, to digital transformation and sustainable logistics. He also said it will contribute to elevating Dammam Port to a regional station for global trade routes from the east to the local markets and farther to the countries in the region.

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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)

State Street Global Advisors, a subsidiary of State Street Corporation, announced that Saudi Arabia’s Public Investment Fund (PIF) has invested SAR 750 million ($200 million) in the newly launched SPDR J.P. Morgan Saudi Aggregate Bond ETF.

According to a statement released by the company on Wednesday, this fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). It is listed in both the London Stock Exchange and Germany’s Xetra, offering investors the opportunity to track government and quasi-government bonds denominated in either the Saudi Riyal or the US Dollar, including sukuk (Islamic bonds).

This investment aligns with the objectives of Saudi Vision 2030, representing a significant step toward enhancing the international presence of Saudi Arabia’s financial markets and attracting foreign investments. The fund is available to investors across several European countries, including Austria, Denmark, France, Germany, and Italy.

Commenting on the investment, Yazid Al-Humaid, Deputy Governor and Head of MENA Investments at PIF, said: “The fund continues to create opportunities and enable access to diverse capital markets in the Kingdom. Investing in the first internationally listed Saudi fixed-income ETF underscores PIF’s commitment to deepening Saudi capital markets, attracting investors, and fostering partnerships across global financial centers.”

CEO of State Street Global Advisors Yi-Hsin Hung emphasized that the launch of the fund is a significant milestone in providing innovative opportunities for investors while contributing to Saudi Arabia’s economic growth.