Saudi Ports Authority, SAR Sign Agreement to Boost Maritime, Rail Connectivity

Saudi Ports Authority, SAR Sign Agreement to Boost Maritime, Rail Connectivity
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Saudi Ports Authority, SAR Sign Agreement to Boost Maritime, Rail Connectivity

Saudi Ports Authority, SAR Sign Agreement to Boost Maritime, Rail Connectivity

The Saudi Ports Authority (Mawani) and the Saudi Arabia Railways (SAR) inked an agreement to bolster maritime and rail transportation connectivity, reported the Saudi Press Agency on Tuesday.

This strategic alliance boosts the logistics at the industrial and commercial ports in the Kingdom, thus contributing significantly to the objectives outlined in the National Transport and Logistics Strategy (NTLS) and aligning with the goals of Saudi Vision 2030.

Mawani President Omar Hariri and SAR CEO Dr. Bashar bin Khaled Al-Malik signed the agreement at Mawani's headquarters in Riyadh.

The agreement will bolster the Kingdom's competitive edge and support trade by offering secure, sustainable transportation solutions that aim at reducing carbon emissions and improving the efficiency of logistical operations.

The initiative will contribute to solidifying Saudi Arabia's position as a leading global logistics hub effectively bridging three continents.

Mawani aspires to achieve seamless integration with SAR in container transport, bulk materials, and general cargo via rail to and from ports. SAR's extensive rail network, which connects major ports, such as King Abdulaziz Port in Dammam, King Fahd Industrial Port in Jubail, Jubail Commercial Port, and Ras Al-Khair Port, plays a crucial role in this integration.

The partnership will improve the quality of service offered to exporters and importers by introducing innovative logistics services that make exports and imports transported by rail more efficient, and provide solutions to customers' logistics challenges.

The agreement also aims to assess user satisfaction with rail services and logistics support, and identify and implement improvements. It also entails collaboration in planning and executing marketing campaigns to promote rail transportation.

The goal is to transform the Kingdom into a critical logistics corridor between the East and the West.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."