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Nissan Says Saudi Vision 2030 Aligns with its Vision on Electric Mobility

The Japanese national flag and Nissan Motor Corporation's flag fly at the entrance of the company's global headquarters in Yokohama, Kanagawa Prefecture on July 30, 2025. (Photo by Kazuhiro NOGI / AFP)
The Japanese national flag and Nissan Motor Corporation's flag fly at the entrance of the company's global headquarters in Yokohama, Kanagawa Prefecture on July 30, 2025. (Photo by Kazuhiro NOGI / AFP)
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Nissan Says Saudi Vision 2030 Aligns with its Vision on Electric Mobility

The Japanese national flag and Nissan Motor Corporation's flag fly at the entrance of the company's global headquarters in Yokohama, Kanagawa Prefecture on July 30, 2025. (Photo by Kazuhiro NOGI / AFP)
The Japanese national flag and Nissan Motor Corporation's flag fly at the entrance of the company's global headquarters in Yokohama, Kanagawa Prefecture on July 30, 2025. (Photo by Kazuhiro NOGI / AFP)

Nissan’s Global Chief Performance Officer Guillaume Cartier has stressed that the Gulf region, Saudi Arabia in particular, has a strategic importance that goes beyond being just a sales market.

For the company, the region serves as an “exceptional testing environment” for its technologies, thanks to the harsh climate conditions and unique driving patterns that present global-level challenges, said Cartier, who is also Chairperson for Nissan’s Africa, Middle East, India, Europe and Oceania (AMIEO) region.

In remarks to Asharq Al-Awsat, Cartier said that high temperatures, high-speed driving, and long distances in the Gulf require specific modifications to Nissan vehicles.

He stressed that the company makes critical adjustments to engines and cooling systems to suit this environment, giving it a competitive advantage and paving way for ongoing product development.

Cartier pointed out that while the market size in GCC states may not be the largest globally in terms of vehicle numbers, it holds strategic importance, particularly for Nissan.

The Gulf region is an exceptional testing environment for Nissan’s technologies, he told the newspaper, stating that the harsh weather and demanding driving requirements make it a real-world lab for product development.

Alignment with Saudi Vision 2030

Regarding how Nissan’s vision aligns with Saudi Vision 2030, especially in the areas of sustainability and electric mobility, Cartier said the Kingdom is moving forward with clear and rapid steps toward the future.

Saudi Arabia’s goals in sustainability and electric mobility perfectly align with Nissan’s strategy to achieve carbon neutrality, he said.

He added that Nissan sees great similarity between its ambitions and those of Saudi Arabia and Gulf countries.

Success of Formula E
Cartier pointed out that this year’s Formula E season has been one of the company’s most successful seasons, thanks to a long-term strategic investment in the third generation of electric race cars.

He stated that Nissan is not only participating in the races, but also manufactures its own race cars, in addition to producing cars for other teams, such as McLaren.

The success was the result of strategic decisions made years ago, including the consolidation of engineering teams at a single location, the selection of the right driver, such as Oliver Rowland, and the precise execution by the team led by Tommaso Volpe.

A Lab for the Road
Cartier explained that Nissan views Formula E as a real testing ground for technologies that can later be introduced to commercial vehicles.

He also stressed that electric motorsports perfectly align with Nissan’s strategy of transitioning to electric mobility, particularly with models like LEAF, Micra, and Ariya.

A Partnership for the Future

Regarding partnerships, Cartier noted that Nissan’s relationship with Saudi company Petromin began with sponsoring a local race in Jeddah, but evolved into a global partnership.

Petromin expanded its partnership with the company to become a global sponsor of Nissan in Formula E, he said.

He added that this is not just about race sponsorship, but a long-term strategic vision.

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Business

PIF Anchors State Street’s Newly Launched Saudi Equity ETF

Officials from PIF and State Street IM (Saudi PIF)
Officials from PIF and State Street IM (Saudi PIF)
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PIF Anchors State Street’s Newly Launched Saudi Equity ETF

Officials from PIF and State Street IM (Saudi PIF)
Officials from PIF and State Street IM (Saudi PIF)

The Saudi Public Investment Fund (PIF) and State Street Investment Management (State Street IM), one of the world’s largest asset managers, launched on Thursday the State Street Saudi Arabia Enhanced Active Equity (SAQL) with PIF as anchor investor.

The fund actively invests in equities of companies in Saudi Arabia using a quantitative multi-factor stock selection model, PIF said in a statement.

SAQL has its primary listing on the Xetra exchange in Germany and is cross listed on the LSE in the United Kingdom, where a bell ringing ceremony was held. The fund will be available to investors in both markets as well as investors across other key markets in Europe, the statement said.

The investment marks another step in PIF’s strategy to further deepen and diversify the Saudi capital market by attracting international capital flows, empowering financial institutions, broadening financing options for the private sector and introducing new products.

The newly launched fund is the second State Street IM ETF in which PIF has made an anchor investment, and the fifth ETF investment for PIF across nine global markets with leading international asset managers. New and innovative Saudi-focused products were listed in Hong Kong, London, Shanghai, Shenzhen, Tokyo, Frankfurt, Italy and Singapore.

“PIF is further strengthening Saudi Arabia’s capital market ecosystem, working with our partners to open gateways for international investors, enable access and drive global capital inflow into the country,” said Deputy Governor and Head of MENA Investments at PIF Yazeed Al-Humied.

“Our continued partnership with State Street IM reinforces a shared commitment to enhance and diversify the product range, to present new opportunities for international investors into the Saudi market and unlock capital pools,” he said.

“The launch of this ETF further deepens the Saudi market and builds on a series of PIF-anchored ETF listings across international markets, cementing PIF’s role in driving increased product diversification to enhance liquidity and fulfill market needs,” Al-Humied added.

Chief Executive Officer of State Street Investment Management Yie-Hsin Hung praised Saudi Arabia’s "success story," adding: “At State Street, as with PIF, innovation is in our DNA and we’re pleased to offer a new product in this same vein, drawing on our decades of experience and commitment to quality to underpin an exciting new offering, anchored by PIF.”

Quantitative funds, such as SAQL, use mathematical modeling, algorithmic, and data-driven methods to manage portfolios. The Saudi capital market has evolved beyond legacy sectors, with maturation of market structure and data quality – enabling SAQL to use a systematic active approach when investing in Saudi equity securities.

SAQL provides an opportunity for international investors to obtain investment exposure to this rapidly evolving economy.

The fund is registered for sale in Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and the UK.

Business

Morocco’s Inflation Rises to 0.9% in March

People stand looking across the river at the skyline in the coastal city of Rabat on April 20, 2026. (AFP)
People stand looking across the river at the skyline in the coastal city of Rabat on April 20, 2026. (AFP)
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Morocco’s Inflation Rises to 0.9% in March

People stand looking across the river at the skyline in the coastal city of Rabat on April 20, 2026. (AFP)
People stand looking across the river at the skyline in the coastal city of Rabat on April 20, 2026. (AFP)

Morocco's annual inflation, measured by the consumer price index, rose to 0.9% in March from -0.6% a month earlier, the statistics agency said on Wednesday.

Food prices, ‌the main ‌driver of ‌inflation, ⁠rose 0.6% from a year ⁠earlier, while non-food inflation increased 1.1%.

Core inflation, which excludes more volatile goods, rose 0.6% year-on-year ⁠and 0.1% month-on-month.

The ‌rise ‌in fuel prices following ‌the Iran conflict ‌led the Moroccan government to reintroduce subsidies for professional transporters, including taxis, buses ‌and trucks, to keep prices stable.

Fuel subsidies, ⁠along ⁠with aid to keep electricity and cooking gas prices stable, would cost the government 1.6 billion dirhams ($170 million) monthly, the minister in charge of the budget, Fouzi Lekjaa, said.

Business

Strait of Hormuz Blockade Drives up Costs at Panama Canal

Aerial view of the One Contribution container ship sailing under the Tokio flag as it enters the Panama Canal in Panama City on April 21, 2026. (EPA)
Aerial view of the One Contribution container ship sailing under the Tokio flag as it enters the Panama Canal in Panama City on April 21, 2026. (EPA)
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Strait of Hormuz Blockade Drives up Costs at Panama Canal

Aerial view of the One Contribution container ship sailing under the Tokio flag as it enters the Panama Canal in Panama City on April 21, 2026. (EPA)
Aerial view of the One Contribution container ship sailing under the Tokio flag as it enters the Panama Canal in Panama City on April 21, 2026. (EPA)

The war in the Middle East has boosted demand to move vital cargo through the Panama Canal to such an extent that one vessel carrying liquefied natural gas (LNG) paid $4 million to skip the line and avoid a wait that can take up to five days, according to an official report.

A surge in such payments has been recorded since the US-Israeli attacks on Iran began February 28, which led to the blockade of the Strait of Hormuz, a critical waterway for one-fifth of the world's oil and natural gas exports from Gulf countries.

To meet fuel demand, Asia's refineries are choosing to buy oil or gas from the United States and ship it through the transoceanic waterway instead of purchasing from Gulf countries who rely on the Strait of Hormuz, according to reports from the Panama Canal Authority.

The average number of ships passing through the canal on a daily basis has "remained strong," the authority told AFP in a statement Tuesday, with 34 ships in January and 37 ships in March. Some days exceeded 40 transits.

"The increase reflects changes in global trade patterns and market conditions, including geopolitical factors affecting key routes," the authority said.

Ships transiting the canal book their passage well in advance, and ships without bookings wait an average of five days to get through, but there is an auction where last-minute transits can be purchased.

The most recent auction included a $4 million bid for an LNG vessel, and in recent weeks two oil tankers exceeded bids of $3 million, the authority said.

Past average auction prices between October and February stood at around $130,000, and rose to $385,000 in March and April.

Five percent of global maritime trade passes through the Panama Canal, and its main users are the US and China. The route primarily connects the US East Coast with China, South Korea and Japan.

In the first half of the 2026 fiscal year, which runs October to September, the Panamanian waterway recorded passage of 6,288 ships, a year-on-year increase of 3.7 percent, according to official figures.