黑料社区

Alat to begin PC and server production at Riyadh factory this year, CEO confirms听

Alat to begin PC and server production at Riyadh factory this year, CEO confirms听
Amit Midha, CEO of Alat. Asharq Bloomberg
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Updated 14 min 16 sec ago

Alat to begin PC and server production at Riyadh factory this year, CEO confirms听

Alat to begin PC and server production at Riyadh factory this year, CEO confirms听

RIYADH: Alat, a subsidiary of 黑料社区鈥檚 Public Investment Fund,听is preparing to start manufacturing personal computers and servers at its new facility in Riyadh,听the company鈥檚 CEO told听Asharq Business.

Speaking on the sidelines听of the听Future Investment Initiative conference, Amit Midha听said production will begin once the facility becomes operational, with smartphones expected to follow at a later stage.听

The factory, developed under Alat鈥檚 partnership with Lenovo, will serve as a key component of 黑料社区鈥檚 strategy to localize high-tech manufacturing.听

鈥淲e are going to have our first factory opened later this year, right here in Riyadh. And that will manufacture personal computers, smartphones and servers. Smartphones will be next year, but PCs and servers will start this year,鈥 Midha said.

He also highlighted Alat鈥檚 鈧160 million ($186 million) joint venture with TKE, which aims to produce elevators and escalators in 黑料社区 by 2026.听

鈥淭hey (TKE) have elevators that can go both vertically and horizontally. So, if you have a big event or concert, we can really move people into the other tower and then get them down. And in the horizontal scenario, Neom听has a lot of applications as well,鈥 added Midha.听

The partnership with TKE also aligns with projections that 黑料社区鈥檚 elevator and escalator market will reach $1.84 billion by 2030, according to Markets and Data.听

Launched in 2024, Alat seeks to localize production across strategic sectors including semiconductors, smart devices, advanced industrials, and next-generation infrastructure, targeting an addition of about $9.3 billion to the Kingdom鈥檚 non-oil gross domestic product by 2030.听

Midha added that Alat is also developing projects in AI infrastructure, electrification, and energy transition.听

鈥淲e have a business unit focused on AI infrastructure; whether it is electrification, servers, networking switches, cabling, testing, all of that a business unit does. And in that aspect, we support everything that is happening in the Kingdom. Whether it is Humain, Datavolt, STC and others, to support their AI journey,鈥 Midha said.听

He added: 鈥淲hy would we be importing all the products, when you can manufacture them, bring the supply chain, and develop the talent along the way. And that is the objective around AI infrastructure.鈥澨


780 firms move regional HQs to Riyadh, says Saudi investment minister听听

780 firms move regional HQs to Riyadh, says Saudi investment minister听听
Updated 2 min 57 sec ago

780 firms move regional HQs to Riyadh, says Saudi investment minister听听

780 firms move regional HQs to Riyadh, says Saudi investment minister听听

RIYADH: Saudi Minister of Investment Khalid Al-Falih said the number of companies that have relocated their regional headquarters to Riyadh has exceeded 780, underscoring the Kingdom鈥檚 growing appeal as a global business hub, . 

Speaking during a panel session at the Future Investment Initiative in Riyadh, Al-Falih noted that investors in the Saudi Stock Exchange, or Tadawul, have achieved an annual compound return of 11 percent since the 1980s, calling it a key indicator for those seeking long-term investment opportunities in the Kingdom. 

Private sector contribution 

Al-Falih said 黑料社区 aims to increase the private sector鈥檚 contribution to gross domestic product to 65 percent, highlighting a decline in the economy鈥檚 reliance on oil activities 鈥 from more than 90 percent in 2015 to 68 percent in 2024. 

He emphasized that family businesses account for about 95 percent of the Saudi economy, adding that the Kingdom welcomes global family enterprises not only for their capital, but also for their innovative investment ideas and international networks. 

On small and medium-sized enterprises, the minister said they currently contribute 20 percent to the Saudi economy, with a goal of reaching 35 percent, adding: 鈥淲e have solutions to finance these companies.鈥 

FDI growth and mega projects 

Al-Falih reiterated that 黑料社区鈥檚 mega-projects are progressing rapidly, adding that foreign investment in the Kingdom has quadrupled since the launch of Vision 2030.  

He said the Kingdom鈥檚 economic trajectory has become clearer under the Vision framework, with 90 percent of foreign investments now flowing into non-oil sectors, reflecting a decoupling of the economy from oil prices. 


FII Institute, Expo 2030 Riyadh sign strategic partnership to boost global prosperity听听

FII Institute, Expo 2030 Riyadh sign strategic partnership to boost global prosperity听听
Updated 12 min 35 sec ago

FII Institute, Expo 2030 Riyadh sign strategic partnership to boost global prosperity听听

FII Institute, Expo 2030 Riyadh sign strategic partnership to boost global prosperity听听

RIYADH: The Future Investment Initiative Institute and Expo 2030 Riyadh have announced a long-term strategic partnership aimed at advancing global prosperity and creating a lasting impact for humanity. 

According to the Saudi Press Agency, the collaboration will harness the FII Institute鈥檚 convening power, thought leadership, and investment network to transform visionary ideas into tangible outcomes, as Expo 2030 Riyadh prepares to welcome the world.  

Together, the two organizations will design and implement initiatives that place people at the heart of policy, innovation, and investment, ensuring that progress benefits citizens, businesses, and governments alike. 

 

 

Richard Attias, chairman of the executive committee and acting CEO of the FII Institute, said: 鈥淭his partnership brings together FII Institute, the world鈥檚 foremost convener of investors and changemakers, with one of the century鈥檚 most transformative global gatherings.鈥  

He added: 鈥淏etween now and 2030, our shared mission is to turn bold ideas into real, investable solutions that improve lives. When the gates of Expo Riyadh open, we won鈥檛 just be showcasing the future, we will have helped build it.鈥 

Talal Al-Marri, CEO of Expo 2030 Riyadh Co., added: 鈥淭his partnership with FII Institute marks an important milestone in our journey to position Expo 2030 Riyadh as a global hub for innovation, collaboration, and sustainable development.鈥   

Together, we will create meaningful opportunities that connect visionary minds, foster groundbreaking ideas, and shape a better future for generations to come.鈥  

The alliance underscores 黑料社区鈥檚 growing role as a global center for dialogue, innovation, and action, reinforcing both institutions鈥 commitment to delivering measurable impact for humanity. 


Qatar鈥檚 manufacturing sector adds $7.25bn to GDP in H1听

Qatar鈥檚 manufacturing sector adds $7.25bn to GDP in H1听
Updated 29 October 2025

Qatar鈥檚 manufacturing sector adds $7.25bn to GDP in H1听

Qatar鈥檚 manufacturing sector adds $7.25bn to GDP in H1听

JEDDAH: Qatar鈥檚 manufacturing sector contributed 26.84 billion Qatari riyals ($7.25 billion) to the nation鈥檚 gross domestic product in the first half of 2025, reflecting strong industrial growth, trade expansion, and digital business reforms. 

The sector added 13.44 billion riyals in the second quarter alone, the Qatar News Agency reported, citing data published by the Ministry of Commerce and Industry. 

The announcement followed the ministry鈥檚 third quarterly performance review for 2025, chaired by Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al-Thani, and attended by Undersecretary Mohammed bin Hassan Al-Malki, along with assistant undersecretaries and department directors. 

The gains come amid the rollout of Qatar鈥檚 National Manufacturing Strategy 2024鈥2030, which aims to generate 70.5 billion riyals in value added, boost non-hydrocarbon exports to 49 billion riyals, and attract 2.75 billion riyals in annual industrial investments by 2030.

The strategy features 15 initiatives and 60 projects designed to advance smart manufacturing, enhance research, and align education with industry requirements.

The statement noted that the meeting reviewed the third quarter achievements, sector performance, and challenges, while exploring solutions to improve implementation, efficiency, and service quality. 

鈥淎mong the notable achievements highlighted was the entry into force of the Qatar鈥揟urkiye economic and trade partnership agreement on August 1, 2025, which has boosted trade exchange and eased investment restrictions,鈥 QNA reported. 

The agency added that the ministry also launched a digital platform to showcase public-private partnership projects and introduced 20 new e-services covering licensing, market monitoring, competition protection, consumer rights, and anti-commercial fraud. 

In the third quarter, the ministry rolled out the 鈥淢y Companies鈥 mobile service, a voluntary mergers and acquisitions review program, and received the Golden Shield award, ranking first in the 11th Cybersecurity Drill. 

Other milestones included unifying land, sea, and air freight in a single commercial registry, issuing temporary licenses for Sealine service providers, updating industrial and trade guides, convening the Public鈥揚rivate Dialogue Forum, enhancing cooperation with the Korean Intellectual Property Office, and granting certain fee exemptions. 

Trade indicators showed strong momentum, with new commercial registrations rising 81.5 percent year on year, active registrations increasing 18.1 percent, and company setup time reduced to two days, QNA stated. 

Active commercial licenses grew 6.8 percent, while 4,631 new non-Qatari companies were established. The single-window platform added five e-services, processed 72,500 transactions 鈥 89 percent electronically 鈥 and achieved 94 percent customer satisfaction. 

鈥淩egarding business environment enhancement, the Ministry successfully identified and resolved 35 percent of the challenges facing the private sector. Twelve PPP projects were studied in 2025, three more than in Q2, with four new projects launched and one awarded in Q3,鈥 QNA reported. 

In the consumer affairs sector, the number of specialized licenses issued increased 30.87 percent compared with the third quarter of 2024, while processing time was reduced to one day. 

The time required to process price-adjustment requests for goods and services also fell compared with the first two quarters of 2025. Beneficiaries of ration services rose 2.61 percent year on year, while the number of fodder distributors surged 96.9 percent, the report added. 


Donald Trump Jr. praises Saudi transformation, warns against Chinese 鈥榙ominance鈥

Donald Trump Jr. praises Saudi transformation, warns against Chinese 鈥榙ominance鈥
Updated 29 October 2025

Donald Trump Jr. praises Saudi transformation, warns against Chinese 鈥榙ominance鈥

Donald Trump Jr. praises Saudi transformation, warns against Chinese 鈥榙ominance鈥

RIYADH: Donald Trump Jr. expressed strong admiration for 黑料社区鈥檚 economic transformation during a major investment conference in Riyadh.

Speaking on the sidelines of the Future Investment Initiative conference, Trump Jr. described the gathering of investors as 鈥渁mazing,鈥 according to Asharq Business. He contrasted the region鈥檚 current climate with that of two decades ago, saying: 鈥淣o one sane would have thought of investing in the Middle East compared to Europe.鈥

Alongside his praise for the Kingdom鈥檚 progress, he cautioned against growing global influence from China, saying: 鈥淲orking with our partners to stop Chinese hegemony is probably one of the most important things the world can do.鈥 

The comments were made during the ninth edition of the FII conference, a high-profile event aimed at attracting international investment to the Kingdom and highlighting its economic reforms under Vision 2030. 

 

 

 


Jordan鈥檚 industrial exports rise 7.5% in first 8 months of 2025听

Jordan鈥檚 industrial exports rise 7.5% in first 8 months of 2025听
Updated 29 October 2025

Jordan鈥檚 industrial exports rise 7.5% in first 8 months of 2025听

Jordan鈥檚 industrial exports rise 7.5% in first 8 months of 2025听

RIYADH: Jordan鈥檚 industrial sector saw exports rising by 7.5 percent in the first eight months of 2025 compared to the same period last year, according to official data. 

The nation鈥檚 industrial exports from January to August reached 5.56 billion Jordanian dinars ($7.84 billion), up from 5.17 billion dinars recorded during the same period in 2024, the Jordan News Agency, also known as Petra, reported, citing data from the Jordan Chamber of Industry. 

This strong performance means industrial exports accounted for 91 percent of Jordan鈥檚 total national exports, which grew 8 percent year on year to reach 6.09 billion dinars.

This positive data comes as Jordan actively positions its industrial sector as a primary engine for economic growth, job creation, and trade-deficit reduction, in line with the nation鈥檚 Economic Modernization Vision, which aims to make the country a regional hub for high-value exports.

The JCI attributed the growth to the industrial sector鈥檚 鈥渉igh flexibility and ability to adapt to external challenges.鈥 This export-led expansion remains a critical factor in narrowing the trade deficit and increasing the industry鈥檚 contribution to the national economy. 

Data also showed that industrial exports now cover 42 percent of the country鈥檚 import bill.

A detailed breakdown by the JCI鈥檚 Studies and Policies Department showed growth in nine out of 10 industrial subsectors. The construction industries segment led with a 77.6 percent increase, while the wood and furniture industries sector was the only one to decline, falling 11.2 percent.

The chemical and cosmetics industries sector topped the list with exports worth 1.23 billion dinars, narrowly edging out the leather and textiles sector, which recorded 1.19 billion dinars.

The engineering and electrical industries sector followed with 1.03 billion dinars, while the mining and food and supplies sectors rounded out the top five at 751 million dinars and 590 million dinars, respectively. 

Other sectors included therapeutic industries and medical supplies at 399 million dinars, and plastics and rubber at 123 million dinars. 

Key exported products driving this growth included clothing and accessories, nitrogenous and chemical fertilizers, and pharmaceutical preparations. 

Exports reached a diverse range of international markets, with 黑料社区 and India as the top destinations, followed by Iraq and Syria.