Saudi Arabia, UK Activate Rail Transport MoU

The visit took place from August 12 to 14 as part of an official exchange program between the two countries. SPA
The visit took place from August 12 to 14 as part of an official exchange program between the two countries. SPA
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Saudi Arabia, UK Activate Rail Transport MoU

The visit took place from August 12 to 14 as part of an official exchange program between the two countries. SPA
The visit took place from August 12 to 14 as part of an official exchange program between the two countries. SPA

A delegation from Saudi Arabia’s transport sector, led by the Transport General Authority (TGA), has visited the United Kingdom (UK) Department for Transport in London to activate the memorandum of understanding (MoU) signed between both countries in the field of rail transport.

The Saudi delegation included representatives from the TGA's Deputyship for Railway Transport, the National Transport Safety Center (NTSC), and Saudi Arabia Railways (SAR). The visit took place from August 12 to 14 as part of an official exchange program between the two countries.

The visit focused on implementing the provisions of the MoU, exploring the UK’s experience in regulating and developing its rail sector, and exchanging expertise in modern technologies, sustainability, and safety.

Discussions also covered potential collaboration on future projects, ways to enhance integration across various modes of transport, and programs related to capacity-building, training, and technical exchanges.

The program included bilateral meetings between the Saudi delegation and senior officials at the UK Department for Transport, field visits to transport sites and projects, and a visit to the University of Birmingham.

Both sides also presented technical briefings outlining future directions and initiatives, and meetings were held with private-sector entities to showcase investment opportunities in Saudi Arabia.

The visit underscores Saudi Arabia’s commitment to effectively shaping the future of rail transport through innovation, leveraging global expertise to build modern, efficient networks that support national development and keep pace with advancements in the rail industry.



Egypt Imposes Business Curfew to Counter Soaring Fuel Costs

Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)
Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)
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Egypt Imposes Business Curfew to Counter Soaring Fuel Costs

Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)
Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)

Egypt has ordered shops, restaurants and shopping malls to close from 9:00 pm from Saturday, hoping to curb energy bills that have more than doubled because of the Iran war.

Prime Minister Mostafa Madbouly announced the curfew and said it would last for a month initially.

"Shops, shopping centers, restaurants and cafes will all close at 9:00 pm on weekdays," he said, adding that on Thursdays and Fridays at the weekend they will be allowed to stay open until 10:00 pm, Reuters reported.

The premier said that before the war, Egypt's monthly energy bill was $560 million. Today, for the same quantity, he said Egypt is paying $1.650 billion.

Madbouly said Cairo must work on the "worst-case scenario" in the face of a war whose outcome is unpredictable.

Tourism Minister Sherif Fathy said the new restrictions "will not affect tourists" or flagship destinations, a statement from his office said.

At the beginning of March, Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz, the crucial shipping route now virtually paralysed by the war.

Around a fifth of global crude oil and liquefied natural gas passes through the waterway in peacetime.

The rerouting of shipping away from the Suez Canal is also depriving Cairo of a vital source of foreign currency.


Turkish Central Bank Forex Sales since Start of Iran War Close to $45 Billion

Turkish Central Bank (official website)
Turkish Central Bank (official website)
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Turkish Central Bank Forex Sales since Start of Iran War Close to $45 Billion

Turkish Central Bank (official website)
Turkish Central Bank (official website)

The Turkish Central Bank's balance sheet for this week will show foreign exchange sales amounting to near $20 billion, bringing the total forex sales since the beginning of the Iran war to nearly $45 billion, bankers said, Reuters reported.

According to calculations made by four bankers, based on preliminary data for the first part of the week and their estimates for the rest of the week, the central bank's balance sheet will show $18-21 billion in foreign exchange sales.

Bankers said that although $8 billion of the total $20 billion was made before a public holiday last week, this figure will be reflected in the balance sheet on the first day of this week.

The central bank sold $26 billion in foreign exchange in the first three weeks of the war, using its gold reserves as well, resulting in a $35 billion decrease in its net reserves.


Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port
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Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) has announced the addition of the RSX service by Marsa Ocean Shipping to Jeddah Islamic Port, featuring a capacity of up to 372 TEUs and connecting Jeddah with the regional ports of Aden, Hodeidah, and Djibouti, SPA reported.

This expansion aligns with the National Transport and Logistics Strategy, aiming to enhance the Kingdom’s operational efficiency and its ranking in global performance indicators.

As a primary gateway, Jeddah Islamic Port utilizes its 62 multipurpose berths and specialized terminals to support a total capacity of 130 million tons, reinforcing Saudi Arabia’s position as a global logistics hub connecting three continents.