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Saudi Logistics and Supply Chain Investments Reach $74.6 Billion  

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at Monday's conference. (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at Monday's conference. (Asharq Al-Awsat)
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Saudi Logistics and Supply Chain Investments Reach $74.6 Billion  

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at Monday's conference. (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at Monday's conference. (Asharq Al-Awsat)

Investments in Saudi Arabia’s supply chain and logistics sector have reached approximately SAR 280 billion ($74.6 billion) since the launch of the National Transport and Logistics Strategy, Saudi Minister of Transport and Logistics Services Saleh Al-Jasser said on Monday.

Speaking at the opening of the seventh Supply Chain and Logistics Conference in Riyadh, Al-Jasser said the strategy, launched by Prince Mohammed bin Salman, Crown Prince and Prime Minister, has raised the contribution of transport and storage activities to 6.2 percent of gross domestic product. He added that air cargo volumes rose 34 percent year on year to 1.2 million tons.

The conference attracted strong participation from policymakers, sector leaders and international stakeholders.

Al-Jasser said Saudi Arabia has entered a new phase in its ambition to rank among the world’s top 10 countries on the World Bank’s Logistics Performance Index, after jumping 17 places to 38th out of 160 countries.

The minister noted that the number of logistics hubs across the Kingdom has increased by about 30 centers, supporting economic diversification and strengthening Saudi Arabia’s role in global supply chains. He attributed the sector’s progress to leadership support and the goals of Vision 2030.

Saudi Arabia also ranked among the top four emerging markets out of 50 countries in the Agility Logistics Index 2025. Employment in the logistics ecosystem has grown to 651,000 workers, he underlined.

Al-Jasser described the Kingdom as a key pillar in safeguarding global supply chains and a central hub for Arab logistics integration amid ongoing global challenges.

The conference brings together 150 exhibitors and 14,000 participants, highlighting the sector’s importance to trade, tourism, industry and quality of life.

Al-Jasser revealed that Saudi Arabia’s aviation sector is undergoing unprecedented expansion, including airport development, fleet growth and supply chain integration, positioning the Kingdom as a reliable global logistics partner.

The Kingdom has also become a host for major international logistics events. Last year, it staged the inaugural Global Logistics Forum, and next year it will host the second UNCTAD Global Supply Chain Forum, in cooperation with the United Nations and the Saudi Ports Authority.

At the conference, Sulaiman bin Mohammed Al Rubaian, senior vice president of Aramco Procurement and Supply Chain Management at Saudi Aramco, said the company’s Iktva (In-Kingdom Total Value Add) program has contributed about SAR 900 billion ($240 billion) to Saudi GDP over the past decade.

He said the program created more than 200,000 direct and indirect jobs, established 350 local manufacturing facilities, and enabled the local production of 47 products manufactured in the Kingdom for the first time.

Al-Jasser also inaugurated the exhibition accompanying the conference, where leading local and international companies showcased logistics technologies and services.

Over two days, the event will witness the signing of 93 agreements and memoranda of understanding worth SAR 19.05 billion ($5.2 billion), supporting the development of new logistics projects across the Kingdom.

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Argaam Warns Against Fraudulent Digital Currency Claims Using Its Name

 Argaam logo 
 Argaam logo 
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Argaam Warns Against Fraudulent Digital Currency Claims Using Its Name

 Argaam logo 
 Argaam logo 

Saudi financial information platform Argaam has issued a sharp warning after uncovering coordinated fraud attempts carried out through unofficial channels, exploiting its name and reputation in the Saudi market.

According to Argaam, the schemes seek to deceive the public by promoting false claims about digital currency launches and offering to double investors’ funds in return for dubious financial transfers.

In a statement, Argaam stressed that it does not issue digital currencies and never requests financial or digital transfers from individuals or entities.

It also confirmed that it does not collect personal or financial data nor offer investment invitations or proposals of any kind, emphasizing that all announcements and initiatives are communicated solely through its officially authorized channels within the Kingdom of Saudi Arabia.

Calling on the public to exercise caution and refrain from engaging with any unauthorized messages or entities, Argaam said it will take all necessary legal measures against anyone proven to have impersonated its name or exploited its trademark.

Such actions will be pursued in accordance with Saudi Arabia’s Anti-Cybercrime Law, Trademark Law, and other applicable regulations.

Argaam further affirmed that it reserves all its legal rights to pursue those involved before the competent authorities, and declared that it bears no responsibility for any transactions or damages resulting from dealings with such unofficial parties.

The warning comes at a time when Saudi regulations impose strict controls on digital currencies, which are not currently classified as legally recognized currencies within the Kingdom.

 

 

 

 

Business

Libya to Sign 25-year Deal with TotalEnergies, ConocoPhillips to Bring over $20 Billion in Investment

TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)
TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)
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Libya to Sign 25-year Deal with TotalEnergies, ConocoPhillips to Bring over $20 Billion in Investment

TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)
TotalEnergies' results in the fourth quarter of 2025 bucked the downward trend among major oil companies (Reuters)

Libya will sign a 25-year oil development agreement on Saturday with France's TotalEnergies and US-based ConocoPhillips, involving more than $20 billion in foreign-financed investment and aimed at boosting production capacity by up to 850,000 barrels per day, Prime Minister Abdulhamid al-Dbeibah ‌said.

Signed through ‌Waha Oil ‌Company, ⁠a subsidiary ‌of Libya's state-run National Oil Corporation, the deal is expected to generate net revenues of more than $376 billion, Dbeibah said in a post on X.

Dbeibah said ⁠that Libya will also sign a ‌memorandum of understanding with ‍US oil ‍major Chevron and a cooperation agreement ‍with Egypt's oil ministry, reported Reuters.

Libya is one of Africa's biggest oil producers, but output has been disrupted repeatedly in the chaotic decade since 2014, when the country ⁠split between rival authorities in the east and west following the NATO-backed uprising that toppled Muammar Gaddafi.

The agreements reflect "the strengthening of Libya's relations with its largest and most influential international partners in the global energy sector ... ultimately generating additional resources ‌for the national economy," Dbeibah said.

Business

Wall Street Intends to Stay Open around the Clock

Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid
Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid
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Wall Street Intends to Stay Open around the Clock

Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid
Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, US, January 21, 2026. REUTERS/Brendan McDermid

The closing and opening bells of the New York Stock Exchange (NYSE) may become a ringing ritual of yesteryear, as the market moves toward nonstop trading.

This week, the Intercontinental Exchange announced it is developing a platform for 24/7 operations that offers "instant settlement."

The around-the-clock operations would rely on digital tokens mirroring the shares of listed companies, the NYSE's parent company said in a statement.

NASDAQ, another New York-based trading exchange, could follow suit as early as this year, said AFP.

The move is pending approval by federal regulators at the US Securities and Exchange Commission (SEC), and would amount to a minor revolution for the way money moves in US stock markets.

- 'Waste of time' -

In the early days of the exchange, investors had to be physically present in markets on Wall Street to "stand and yell at each other and wave pieces of paper, and then they would have to write down what everybody bought and sold," Sam Burns, chief strategist at Mill Street Research, told AFP.

That meant "having trading go on all day every day would sort of be impossible to keep up with," Burns said.

Digitized transactions can change all that.

Off-hours trading has already been on the rise since 2019, exploding since 2024 when the daily average topped $61 billion, according to a NYSE report in early 2025.

But the appeal remains limited, according to Steve Hanke, a professor of applied economics at Johns Hopkins University.

"Historically, there is little evidence that supports the idea that the benefits of 24-hour trading outweigh the costs," he said, adding that there "are few market-moving events that occur outside of normal business hours in New York City."

"Night trading proved to be a waste of time," he said.

Hanke said the real advantage in the NYSE's announcement lies in the time needed to finalize a trade -- a process that usually occurs the next day in most stock markets.

"Narrowing the settlement window may prove to be a significant competitive advantage," Hanke said.

- Attracting the young and foreigners -

As host to immense market caps, the US market remains the largest in the world, but competition is growing.

Last year, many European indexes generated returns that outpaced their US counterparts.

With extended hours, Wall Street may be able to attract smaller investors and those outside the Americas.

Nearly 18 percent of US shares belonged to non-US holders in 2024, according to the US Treasury's most recent available figures.

And fans of cryptocurrency trading may jump into stocks, said Burns, the Mill Street Research strategist.

"A lot of retail investors nowadays, particularly younger ones, seem to like the idea of being able to trade stocks all the time the way they do cryptocurrencies and other digital assets, whether it's nights or weekends," Burns said.

It is unlikely that the change would move traditional investors from banker's hours because the impacts of any change are likely to be limited," Burns added.

"Most institutional investors that trade the real money aren't really interested in working or trading on the weekends, and the fact (is) that banks are mostly still closed on the weekends," Burns said.