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RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal
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RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

The Saudi Ports Authority (Mawani) announced the signing of an agreement between Red Sea Gateway Terminal (RSGT) and French shipping group CMA CGM to develop and operate the fourth container terminal at Jeddah Islamic Port, with an investment of approximately SAR1.6 billion.

The agreement was signed on the sidelines of the Saudi-French Investment Roundtable Meeting in the presence of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and French President Emmanuel Macron, reflecting the port’s strategic position and growing role in global trade.

The agreement builds on the strategic partnership between Mawani, RSGT, and CMA CGM, and reflects the growing partnerships with leading global companies to develop Saudi ports’ capabilities, support the growth of the maritime and logistics sector, and strengthen the Kingdom of Saudi Arabia’s connectivity to global trade networks.

The project aims to develop and operate the fourth container terminal with an annual capacity of approximately 2.6 million twenty-foot equivalent units (TEUs) under RSGT’s existing concession agreement, further bolstering Jeddah Islamic Port’s operational capacity to accommodate growth in trade volumes.

The project will also boost Jeddah Islamic Port’s ability to attract global shipping lines and services, increase cargo flows, and expand its connectivity with international markets, leveraging its strategic location on the Red Sea and maritime trade routes linking Asia, Europe, and Africa. This will support the smooth flow of exports and imports and enhance the efficiency and resilience of supply chains.

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Business

Saudi Arabia, France Sign MoU to Boost Health Cooperation

Saudi Minister of Economy and Planning Faisal Alibrahim and French Minister of Health, Families, Autonomy and Persons with Disabilities Stephanie Rist sign the agreement on Monday. (SPA)
Saudi Minister of Economy and Planning Faisal Alibrahim and French Minister of Health, Families, Autonomy and Persons with Disabilities Stephanie Rist sign the agreement on Monday. (SPA)
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Saudi Arabia, France Sign MoU to Boost Health Cooperation

Saudi Minister of Economy and Planning Faisal Alibrahim and French Minister of Health, Families, Autonomy and Persons with Disabilities Stephanie Rist sign the agreement on Monday. (SPA)
Saudi Minister of Economy and Planning Faisal Alibrahim and French Minister of Health, Families, Autonomy and Persons with Disabilities Stephanie Rist sign the agreement on Monday. (SPA)

Saudi Minister of Economy and Planning Faisal Alibrahim, on behalf of Minister of Health Fahad AlJalajel, signed on Monday a memorandum of understanding (MoU) with the French Ministry of Health, Families, Autonomy and Persons with Disabilities on the sidelines of the visit of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to France.

The MoU aims to boost health cooperation between Saudi Arabia and France in several priority areas, most notably public health and health security, governance of health systems, quality of care, patient safety, preparedness and response to health emergencies, and development of the health workforce and capabilities.

It also covers digital health and artificial intelligence, research and development, innovation and clinical trials, supply chains and pharmaceutical industries, as well as investment and health partnerships.

The agreement builds on the longstanding relations between the two countries and seeks to strengthen the exchange of expertise and partnerships.

It supports research and innovation, the development of future health solutions and technologies, capability building and investment, the resilience of supply chains, health and pharmaceutical security, and the sustainability and quality of health services. These efforts support the objectives of the Health Sector Transformation Program under Saudi Vision 2030.

The Saudi National Institute of Health signed an MoU with French pharmaceutical company Sanofi on the sidelines of the Saudi-French Investment Forum in Paris.

The MoU aims to boost cooperation in research and development, innovation, and clinical research, and develop public-private partnerships to support the development of promising therapeutic solutions and health technologies, strengthen the health research and innovation ecosystem, and build research capabilities in line with the objectives of the Health Sector Transformation Program under Saudi Vision 2030.

The MoU builds on the longstanding relations between Saudi Arabia and France and reflects both sides' commitment to exchanging expertise and developing high-impact partnerships that support clinical research, advance innovation, and translate research outputs into innovative and sustainable healthcare solutions that serve human health.

Business

SoftBank Plans $6.3 Billion Retail Bond Issuance Amid AI Push

The logo of SoftBank Group Corp. is displayed at the company's headquarters in Tokyo on August 24, 2026. (Photo by Philip FONG / AFP)
The logo of SoftBank Group Corp. is displayed at the company's headquarters in Tokyo on August 24, 2026. (Photo by Philip FONG / AFP)
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SoftBank Plans $6.3 Billion Retail Bond Issuance Amid AI Push

The logo of SoftBank Group Corp. is displayed at the company's headquarters in Tokyo on August 24, 2026. (Photo by Philip FONG / AFP)
The logo of SoftBank Group Corp. is displayed at the company's headquarters in Tokyo on August 24, 2026. (Photo by Philip FONG / AFP)

SoftBank Group plans to issue a record volume of retail bonds, the largest such offering by a Japanese issuer, as the conglomerate seeks to fund its growing investment commitments to OpenAI.

The spending on AI signals how companies across Asia are stepping up investment in AI infrastructure.

SoftBank Group said Monday it plans to issue 1 trillion yen ($6.3 billion) in unsecured bonds. The seven-year bonds, mainly for retail investors, will have a minimum denomination of 1 million yen, with its annual interest rate expected to fall between 4.30 and 4.90%.

The final interest rate will be set on Sept. 4, and subscriptions will run from Sept. 7 through Sept. 16, it said.

The issuance is SoftBank's largest ever and nearly twice the size ⁠of its previous record - a 600 billion yen offering issued in April 2025.

The Japanese technology conglomerate has been ramping up spending on artificial intelligence-related investments, financing the ⁠push through borrowings, bond sales and asset disposals, including sales of holdings ⁠in Nvidia and T-Mobile.

Companies across Asia are stepping up investment in AI infrastructure. Chinese e-commerce and cloud computing company Alibaba launched a $10.2 billion share placement on Sunday to invest in its “full stack” AI capabilities.

The company's latest offering is expected to provide more firepower for SoftBank's long-term AI investment agenda, including its growing exposure to OpenAI, analysts said. But some of them warned that rising interest rates could add to concerns about the group's financial position.

Business

Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing
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Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy signed on Monday a cooperation agreement with the French public investment bank Bpifrance on project financing on the sidelines of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister’s state visit to France.

The agreement, signed during the Saudi-French Investment Roundtable Meeting, focuses on financing Saudi Energy’s projects to develop and expand the power grid. It aims to provide competitive financing solutions for the company’s procurement activities and projects.

It builds on a memorandum of understanding signed by the two sides in November 2025, which established a framework for procurement financing facilities to support Saudi Energy’s purchasing program and help diversify funding sources for its strategic projects.

The cooperation mechanism also involves BNP Paribas and HSBC as coordinators of the financing process, with efforts to broaden the pool of international lenders. This is intended to diversify liquidity sources and enhance financing flexibility for future projects.

The agreement reflects Saudi Energy’s efforts to leverage international financing instruments to support its projects, including power infrastructure projects, strengthen grid reliability and stability, and improve project execution efficiency.

It underscores the continued expansion of cooperation between Saudi and French entities and the development of partnerships across various sectors as part of efforts to strengthen strategic ties between the two countries.