French green and smart mobility group Alstom will establish its MENA office in Riyadh, according to a company statement out yesterday. A few weeks ago, the Saudi Railway Company and Alstom signed an MoU to develop hydrogen-powered train solutions for the kingdom.

SIGN OF THE TIMES- Saudi Arabia has said it will require any global company that wants to bid on state projects to set up its regional HQ in the kingdom, sending a clear message that if you want in on its economic boom, you’re going to be spending plenty of time in KSA. The move is putting particular pressure on major infrastructure and industrial players, many of whom had set up shop in the UAE during the building boom there in the past two decades.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Dubai Government Workshop (DGW) and Dubai Fishermen Co-op Association signed an agreement that will see DGW manufacture recycled fishing equipment, according to a company statement released yesterday.
• The National Bank of Bahrain, in collaboration with Mastercard, is now issuing cards made entirely from recycled plastic, it announced on Monday.