Monsha’at Signs MoU with Microsoft Arabia to Drive Tech Innovation

The Biban24 Forum, organized by Monsha’at under the theme “A Global Destination for Opportunities,” runs from November 5 to 9 in Riyadh. SPA
The Biban24 Forum, organized by Monsha’at under the theme “A Global Destination for Opportunities,” runs from November 5 to 9 in Riyadh. SPA
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Monsha’at Signs MoU with Microsoft Arabia to Drive Tech Innovation

The Biban24 Forum, organized by Monsha’at under the theme “A Global Destination for Opportunities,” runs from November 5 to 9 in Riyadh. SPA
The Biban24 Forum, organized by Monsha’at under the theme “A Global Destination for Opportunities,” runs from November 5 to 9 in Riyadh. SPA

The Small and Medium Enterprises General Authority (Monsha’at) has signed a memorandum of understanding (MoU) with Microsoft Arabia at the Biban24 Forum.
The MoU was signed by Monsha’at Deputy Governor for Planning and Development Suliman bin Abdulrahman Alturaif and Microsoft Arabia vice president Zainab Alamin.
The agreement aims to strengthen collaboration to support technology startups and exceptional entrepreneurs by providing them access to support, technology, and resources through Microsoft’s Founders Hub program. It also includes information sharing to align objectives and explore capabilities to achieve goals in accordance with Saudi regulations and policies.
The Biban24 Forum, organized by Monsha’at under the theme “A Global Destination for Opportunities,” runs from November 5 to 9 in Riyadh. The event seeks to foster the growth and competitiveness of entrepreneurial projects and promote an entrepreneurial culture, contributing to Vision 2030's goal of increasing SMEs' contribution to the national economy.



Czech Republic Joining Italy to Fight Carmakers' CO2 Fines

Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo
Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo
TT

Czech Republic Joining Italy to Fight Carmakers' CO2 Fines

Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo
Skoda Auto cars are seen at the production line as the carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny/File Photo

The Czech Republic will join Italy in seeking to prevent carmakers from facing heavy penalties from next year when tougher CO2 emission rules take effect in the European Union, Czech Transport Minister Martin Kupka said on Sunday.

Kupka said carmakers will face problems meeting new targets due to falling demand for electric vehicles in Europe, adding that the two countries had agreed on Friday to present their joint stance this week when EU leaders meet in Budapest.

Starting in 2025, the EU will lower a cap on average emissions from new vehicle sales to 94 grams/km from 116g/km. Exceeding that cap could lead to fines of 95 euros ($103) per excess CO2 g/km multiplied by the number of vehicles sold.

Carmakers face trouble adjusting their ranges to meet those targets, Kupka said, Reuters reported.

"They cannot do it because interest in electric cars is falling in all of Europe," Kupka told a Sunday debate show on broadcaster CNN Prima News. He said carmakers would lack money to finance research and development if they are forced to pay fines.

The Czech Republic is among a group of EU countries pushing back against the bloc's so-called Green Deal to tackle climate change and curb pollution. The tougher limits next year are a step towards plans to ban sales of new combustion engine vehicles in 2035.

The car industry contributes around 9% of GDP in the Czech Republic, a country of 10.9 million which made 1.4 million cars in 2023, making it one of Europe's biggest per-capita producers.

Three carmakers operate in the country - Volkswagen's Skoda Auto, Hyundai Motor Co and Toyota Motor Corp.