E-COMMERCE-

Egyptian e-commerce furniture and home goods startup Kemitt has entered the Saudi market, supported by a recent undisclosed funding round, according to a statement. Kemitt plans to use its recent funding to expand its operations, boost its operational technology, and streamline customer experience for Saudi clients, the statement notes.

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Where is the funding going? Kemitt looks to apply a four-pronged approach to boosting its operations, says the statement. This includes scaling up its logistics and customer service systems to meet KSA’s demands, boosting its product portfolio to align better with the Saudi market, forming local partnerships, and advancing its platform user interface and backend operations.

About Kemitt: The firm — founded in 2018 by co-founders Mahmoud Fouad (LinkedIn), Mohamed Rashwan (LinkedIn), and Mohamed Hedayat (LinkedIn) — is a furniture and homeware online marketplace offering on-demand manufacturing and delivery services. The company oversees manufacturing, overhead and last-mile logistics.

TRADE-

Jordan + Iraq extend oil agreement: Iraq has agreed to extend its oil import MoU with Jordan until June 2025, Roya News reports. The MoU — originally signed in May 2023 — will see Iraq deliver up to 15k barrels of oil to Jordan per day. The prices of oil will depend on the monthly average Brent crude oil price, with a reduction of up to USD 16 per barrel to account for quality differentials and transportation costs. The agreement — which will cover 10 percent of Jordan’s crue oil needs — will facilitate the rehabilitation of land routes and the operation of tanker fleets between the two countries, according to Jordanian Minister of Energy and Mineral Resources Saleh Al-Kharabsheh.

TRUCKING-

Saudi-based firm Theeb Rent a Car company has added 77 Mercedes Actros heavy transport trucks to its fleet, according to a Tadawul Disclosure. The firm aims to use these trucks to boost its presence in the transportation and logistics sector by offering diverse rental solutions.

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