عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Minister: Sustainable Maritime Industry Conference Discusses Several Investment Opportunities

Saudi Minister of Transport and Logistics Services Eng. Saleh Al-Jasser addresses the opening of the Sustainable Maritime Industry Conference (SMIC). (Ministry of Transport and Logistics Services)
Saudi Minister of Transport and Logistics Services Eng. Saleh Al-Jasser addresses the opening of the Sustainable Maritime Industry Conference (SMIC). (Ministry of Transport and Logistics Services)
TT
TT

Saudi Minister: Sustainable Maritime Industry Conference Discusses Several Investment Opportunities

Saudi Minister of Transport and Logistics Services Eng. Saleh Al-Jasser addresses the opening of the Sustainable Maritime Industry Conference (SMIC). (Ministry of Transport and Logistics Services)
Saudi Minister of Transport and Logistics Services Eng. Saleh Al-Jasser addresses the opening of the Sustainable Maritime Industry Conference (SMIC). (Ministry of Transport and Logistics Services)

Saudi Arabia’s Minister of Transport and Logistics Services Eng. Saleh bin Nasser Al-Jasser said the Sustainable Maritime Industry Conference brings together leaders of maritime industries, major companies and international organizations, to discuss investment opportunities in the sector.

In remarks to Asharq Al-Awsat, Al-Jasser noted that representatives of the National Industrial Development and Logistics Program (NIDLP) presented at the event an opportunity for partnership with the private sector in maritime industries and the transportation and logistics services industry.

The Sustainable Maritime Industry Conference (SMIC) kicked off in Jeddah on Monday in the presence of Secretary-General of the International Maritime Organization (IMO) Kitack Lim, a number of ministers of transport and infrastructure, senior officials and heads of leading companies from 170 countries.

According to Al-Jasser, the conference brings together maritime industry leaders, major companies and international organizations to discuss the means to develop maritime transport industries and environmental practices.

The minister noted that the first day of the conference witnessed the signing of four agreements, including two deals related to training and developing national competencies in the marine industry.

As part of its efforts to enhance common ground for understanding maritime law and developing a sustainable maritime industry, the Kingdom announced support for the IMO International Maritime Law Institute, to enhance maritime education and training.

The maritime industries are witnessing a huge shift towards innovation, driven by tremendous opportunities and increased efficiency, safety and sustainability. The global marine vessel market is projected to reach $188.57 billion by 2028, while more than 80 percent of internationally traded goods are shipped by the sea.

In his opening speech, Al-Jasser said the Kingdom made significant contributions within the Saudi Green Initiative to reduce land degradation on a global scale.

He also pointed to major Saudi achievements in the maritime industry sector and logistical operations, noting the Kingdom jumped 17 places in the Logistics Performance Index (LPI), and currently ranked 16th among the 100 largest ports in the world in terms of container handling.

The Sustainable Maritime Industry Conference saw the signing of a tripartite agreement that will facilitate the integration of autonomous ships into the country’s maritime system.

The agreement, signed by the Transport General Authority, ABS and Zamil Marine Company, aims to review the development of regulations, technical standards and practices for the construction, operation and maintenance of autonomous vessels.

Most Viewed

 
 
Business

Türkiye Says to Maintain Tight Monetary Policy, Fiscal Discipline

FILE PHOTO: People shop at a green market in Istanbul, Türkiye, October 22, 2025. REUTERS/Dilara Senkaya/File Photo
FILE PHOTO: People shop at a green market in Istanbul, Türkiye, October 22, 2025. REUTERS/Dilara Senkaya/File Photo
TT
TT

Türkiye Says to Maintain Tight Monetary Policy, Fiscal Discipline

FILE PHOTO: People shop at a green market in Istanbul, Türkiye, October 22, 2025. REUTERS/Dilara Senkaya/File Photo
FILE PHOTO: People shop at a green market in Istanbul, Türkiye, October 22, 2025. REUTERS/Dilara Senkaya/File Photo

Türkiye will maintain its tight monetary policy and keep fiscal discipline in order to further lower inflation, Vice President Cevdet Yilmaz said on Saturday.

Turkish consumer price inflation leapt to a higher-than-expected 4.84% month-on-month in January, official data showed on Tuesday, driven in part by new year price adjustments and a jump in food and non-alcoholic drinks prices. Annual inflation dipped to 30.65%.

Speaking at an event in the southeastern province of Siirt, Yilmaz said ⁠the 45-point fall in inflation since May 2024 was not enough, adding the government was on a path to further lower consumer prices.

"We will maintain our tight monetary policy, we will keep our disciplined fiscal policies, we are determined to do this. But ⁠these are not enough either. On the other hand, we have to contribute to our battle with inflation through our supply-side policies," he added, according to Reuters.

Last month, Türkiye's central bank lowered its key interest rate by a less-than-expected 100 basis points to 37%, citing firming inflation, pricing behavior and expectations that threaten the disinflation process.

After a brief policy reversal early last year due to political turmoil, the bank's ⁠rate-cutting cycle resumed in July with a 300-basis-point cut, followed by more subsequent cuts.

The bank has eased by 1,300 points since 2024, when it held rates at 50% for most of the year to wrestle down inflation expectations.

Last month, the head of the Turkish Exporters Assembly told reporters late that Türkiye's extended period of tight economic policies had hurt manufacturers, with high interest rates and costs posing risks to the country's official $282 billion export target.

Business

India, Malaysia Renew Pledges to Boost Trade and Collaboration

Malaysia's Prime Minister Anwar Ibrahim shakes hands with India's Prime Minister Narendra Modi in Putrajaya on February 8, 2026. (Photo by Hasnoor Hussain / POOL / AFP)
Malaysia's Prime Minister Anwar Ibrahim shakes hands with India's Prime Minister Narendra Modi in Putrajaya on February 8, 2026. (Photo by Hasnoor Hussain / POOL / AFP)
TT
TT

India, Malaysia Renew Pledges to Boost Trade and Collaboration

Malaysia's Prime Minister Anwar Ibrahim shakes hands with India's Prime Minister Narendra Modi in Putrajaya on February 8, 2026. (Photo by Hasnoor Hussain / POOL / AFP)
Malaysia's Prime Minister Anwar Ibrahim shakes hands with India's Prime Minister Narendra Modi in Putrajaya on February 8, 2026. (Photo by Hasnoor Hussain / POOL / AFP)

India's Prime Minister Narendra Modi and his Malaysian counterpart Anwar Ibrahim renewed pledges on Sunday to bolster trade and explore potential collaborations in semiconductors, defense and other fields.

Modi is on a two-day visit to the Southeast Asian nation, his first since the two countries elevated ties to ⁠a comprehensive strategic partnership in August 2024.

Anwar said the partnership included deep collaborations in multiple fields, including trade and investments, food security, defense, healthcare and tourism.

"It's really comprehensive, and we believe ⁠that we can advance this and execute in a speedy manner with the commitment of our both governments," he told a press conference after hosting Modi at his official residence in the administrative capital Putrajaya.

Following their meeting, Anwar and Modi also witnessed the exchange of 11 cooperation agreements, including ⁠on semiconductors, disaster management and peacekeeping, Reuters reported.

Anwar said India and Malaysia would continue efforts to promote the use of local-currency settlement for cross-border activities and expressed hope that bilateral trade would surpass last year's $18.6 billion.

Malaysia will also support India's efforts to open a consulate in Malaysia's Sabah state on Borneo island, Anwar said.

Business

Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
TT
TT

Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.