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Kuwait’s Agility Begins Major Expansion at Logistics Complex in Riyadh

Agility signed a new MoU to explore and develop logistics zones connected to railway projects in Saudi Arabia. (Asharq Al-Awsat)
Agility signed a new MoU to explore and develop logistics zones connected to railway projects in Saudi Arabia. (Asharq Al-Awsat)
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Kuwait’s Agility Begins Major Expansion at Logistics Complex in Riyadh

Agility signed a new MoU to explore and develop logistics zones connected to railway projects in Saudi Arabia. (Asharq Al-Awsat)
Agility signed a new MoU to explore and develop logistics zones connected to railway projects in Saudi Arabia. (Asharq Al-Awsat)

The Kuwaiti company Agility has announced plans to expand its logistics complex in Riyadh by adding 100,000 square meters of modern warehouses, bringing the total storage space to approximately 551,000 square meters.

The project, valued at SAR 250 million (around $66.58 million), aims to create 300 new job opportunities for Saudi citizens, with the first phase of the expansion set to be operational by the end of the first quarter of 2025.

Speaking to Asharq Al-Awsat during the Global Logistics Forum in Riyadh, Agility CEO Tarek Sultan noted that the company had signed a new memorandum of understanding to explore and develop logistics zones connected to railway projects in Saudi Arabia, aiming to strengthen the country’s logistical infrastructure.

Sultan emphasized Agility’s key role in improving services and linking railway networks to its foreign client base, which has shown growing interest in investing in the Kingdom. This comes as Saudi Arabia aims to become a global logistics hub by 2030.

Sultan also highlighted Agility’s commitment to developing the small and medium-sized enterprises (SMEs) sector in Saudi Arabia, stating that the company, which is listed on both the Kuwait Stock Exchange and Dubai Financial Market, is looking to maximize opportunities for these businesses through investments in storage and logistics services.

On Sunday, during the Global Logistics Forum, the company announced major expansion plans for its logistics complex in Riyadh, expected to be completed within a year and a half. Sultan noted that there are additional projects currently under study and planning.

The CEO noted that Agility’s investments in Saudi Arabia amount to several billion riyals and are steadily increasing. It is noteworthy that the company’s profits decreased by 16% in the first half of 2024, totaling 24.70 million Kuwaiti dinars, due to a 24% rise in general and administrative expenses.

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Japan Tariff Negotiator Held In-Depth Talks with Lutnick, Japanese Government Says

Commerce Secretary Howard Lutnick listens to Senators speak during a Senate Appropriations hearing, June 4, 2025, on Capitol Hill in Washington. (AP)
Commerce Secretary Howard Lutnick listens to Senators speak during a Senate Appropriations hearing, June 4, 2025, on Capitol Hill in Washington. (AP)
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Japan Tariff Negotiator Held In-Depth Talks with Lutnick, Japanese Government Says

Commerce Secretary Howard Lutnick listens to Senators speak during a Senate Appropriations hearing, June 4, 2025, on Capitol Hill in Washington. (AP)
Commerce Secretary Howard Lutnick listens to Senators speak during a Senate Appropriations hearing, June 4, 2025, on Capitol Hill in Washington. (AP)

Japan's tariff negotiator Ryosei Akazawa held "in-depth exchanges" over the phone with US Commerce Secretary Howard Lutnick on Thursday and Saturday, the Japanese government said.

A pause on a 24% reciprocal tariff on imports from Japan expires on July 9, although US President Donald Trump has suggested the rate could be even higher.

The Japanese government also said in a statement that it intends to continue actively coordinating with the US side on the matter, as it worked to avert higher tariffs.

The White House declined to comment on the report, referring only to Trump's recent comments on Japan.

Trump this week hammered Japan over what he said was Tokyo's reluctance to import US-grown rice, and accusing Japan of engaging in "unfair" autos trade.

Japan has in fact imported historically high volumes of US rice in recent months as domestically grown rice has skyrocketed in price since last year.

It was unclear if Trump would make good his pledge to skip further trade negotiations with Japan and send it a letter with a specific tariff rate, on top of the 10% already in effect on most trading partners. On Friday he said he had signed letters to 12 countries and they would be going out on Monday, but did not identify them.

He expressed doubt that a deal could be reached with Japan on Tuesday, and suggested he could impose a tariff of 30% or 35% on imports from Japan - well above the 24% tariff rate he announced on April 2.

Japanese Prime Minster Shigeru Ishiba on Wednesday said he was determined to protect his country's national interests as trade negotiations with the US struggled, noting that his country was the largest investor in the United States.

Tokyo has yet to secure a trade deal after nearly three months of negotiations as it scrambles to find ways to get Washington to exempt Japan's automakers from 25% automobile industry-specific tariffs, which are hurting the country's manufacturing sector.