Author: Verified News Online

Saudi Aramco Achieves 70% Local Content Milestone in Supply Chain, Boosting Saudi Vision 2030 Saudi Aramco, the world’s largest integrated energy and chemicals company, has announced a major breakthrough in its In-Kingdom Total Value Add (iktva) programme by achieving a 70% local content benchmark in its supply chain, a milestone that underscores the Kingdom’s push to build domestic industrial capacity and diversify its economy. This achievement comes as a part of a long-term strategy tied to Saudi Vision 2030 and has already delivered substantial economic benefits, including significant job creation and foreign investment.What is iktva and why this milestone by Saudi Aramco matters
Launched in 2015, the iktva programme aims to maximise economic value within Saudi Arabia by localising procurement of goods and services, developing local suppliers and fostering a competitive national industrial ecosystem. Through the initiative, Aramco encourages global investors and manufacturers to est..

(IANS) BNP Metropolitan leader Mohibuzzaman Kochi died on Thursday morning while going to a polling station in Bangladesh’s Khulna after allegedly being pushed by rival Jamaat supporters.Kochi, 60, was the former office secretary of Khulna Metropolitan BNP.The incident occurred around 9 am at the Khulna Alia Madrasa polling station. According to BNP, Kochi had gone to vote when he opposed campaigning inside the center. Members of the rival Jamaat allegedly pushed him, causing him to fall and hit his head. He was later taken to a hospital, where the doctor on duty declared him dead.Metropolitan BNP media cell convener Mizanur Rahman said that Kochi had gone to the Khulna Alia Madrasa center to vote in the morning. Tension was high at the center as Alia Madrasa’s principal, Abdur Rahim, was campaigning for Jamaat. When Kochi tried to stop him, Rahim and his associates allegedly pushed him, causing Kochi to hit his head on a tree. He was later taken to a private medical college hospital, ..

AdvertisementJapanAsiaEast AsiaIs Japan’s US$550-billion promise to Trump just a ‘signing bonus’ with strings attached?Tokyo races to fund US projects to keep a 15 per cent tariff rate, as critics question if the ‘signing bonus’ is a gift or a high-interest loan
Reading Time:2 minutesWhy you can trust SCMPAgence France-PressePublished: 4:46pm, 12 Feb 2026Despite US President Donald Trump having congratulated Japan’s Prime Minister Sanae Takaichi on her recent election triumph, Tokyo is under pressure to deliver on colossal investments promised in the United States.Ahead of the possible announcement of the first projects this week and Takaichi’s scheduled visit to the White House next month, what exactly has Japan pledged, what uncertainties remain, and what is at stake?What was agreed?In July, Japan agreed to invest US$550 billion through 2029 “to rebuild and expand core American industries”, the White House said, generating “hundreds of thousands of US jobs”.
AdvertisementThe pledge w..

AdvertisementBanking & financeBusinessBanking & FinanceHong Kong banks’ profit growth slows as rising bad debts offset wealth-management incomeProfit growth slows to 7.3 per cent from 8.4 per cent a year earlier as bad loans exceed two-decade average, HKMA says
Reading Time:3 minutesWhy you can trust SCMPEnoch YiuPublished: 4:31pm, 12 Feb 2026Updated: 4:43pm, 12 Feb 2026Hong Kong’s retail banks posted 7.3 per cent pre-tax profit growth last year, as rising bad debts and a narrower net interest margin offset growing income from wealth-management services.
The city’s 30 retail banks recorded lower growth in aggregated pre-tax profit than in 2024, when profits increased 8.4 per cent, according to data from the Hong Kong Monetary Authority (HKMA).
The annual growth was much slower than the 62 per cent jump in 2023, when the city had just reopened the border with mainland China after the Covid-19 pandemic, and the 18.7 per cent increase in 2022, the data showed.
Advertisement“Overall, the b..