黑料社区

Riyadh Air putting sustainability up front as it scales: CEO聽

Riyadh Air putting sustainability up front as it scales: CEO聽
Riyadh Air began operations on Oct. 26 with the successful completion of its first passenger flight from King Khalid International Airport to London Heathrow. File
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Updated 10 min 51 sec ago

Riyadh Air putting sustainability up front as it scales: CEO聽

Riyadh Air putting sustainability up front as it scales: CEO聽

RIYADH: 黑料社区鈥檚 newest airline Riyadh Air intends to be a thought leader in environmental sustainability while growing its聽global reach, its CEO has said.

Speaking to Arab News on the sidelines of the ninth Future Investment Initiative conference in Riyadh, Tony Douglas said that while聽the industry鈥檚 net-zero goal is difficult, the airline will pursue both alternative fuels and near-term operational efficiencies.

This year鈥檚 FII conference is taking place in Riyadh from Oct. 27 to 30, and is being held under the theme 鈥淭he Key to Prosperity: Unlocking New Frontiers of Growth.鈥

Riyadh Air, a new Saudi national airline owned by the Public Investment Fund, began operations on Oct. 26 with the successful completion of its first passenger flight from King Khalid International Airport to London Heathrow.

Douglas said: 鈥淭he net鈥憐ero target that鈥檚 out there, given the physics of powered flight, is extremely difficult,鈥 adding: 鈥淏ut we鈥檙e absolutely committed to this going forward.鈥

Day to day, Riyadh Air will cut waste where it starts, with the CEO pointing to catering as an area to target. Legacy airlines uplift too much food, much of it thrown away. That鈥檚 waste and weight, which means more fuel burn and emissions, said Douglas.

To combat this, guests will be able to preorder meals in the concierge app. This trims waste and gives people exactly what they want.聽

The brand rests on three pillars: obsessive guest experience, a digital鈥憂ative mindset, and leadership on environmental sustainability.

鈥淲e鈥檙e building a national carrier that connects the Kingdom to the world 鈥 and delights every guest along the way,鈥 Douglas said. For him, sustainability sits alongside service and tech, not behind them. A digital鈥慺irst approach drives personalization and efficiency 鈥 from meal preorders to smoother trip planning.

Operations began with a symbolic start. 鈥淲e鈥檒l never forget October 26,鈥 Douglas said, recalling the first commercial service. Daily flights to London Heathrow are live, with Dubai next as the network ramps.

Growth will be steady and visible. Completed Boeing aircraft are in certification, with more coming off and entering final assembly each month. The plan is roughly one new jet every month through next year, then two per month. That supports a goal of more than 100 international destinations within five years, setting up Riyadh as a serious global hub.

鈥淕lobal connectivity is an enabler,鈥 Douglas said. In his view, aviation runs across the Kingdom鈥檚 diversification pillars under Vision 2030. The impact is macro and human. The airline expects to support well over 200,000 jobs directly and indirectly as routes open markets, attract investors, and bring tourists.

Service remains the test. 鈥淚t鈥檚 not only what we do 鈥 it鈥檚 how we do it. We want people to be delighted by our service because the brand is real.鈥澛

That ethos extends beyond the cabin. Riyadh Air is launching Sfeer, a lifestyle program rather than a traditional loyalty scheme. Members can pool and pass points with family and friends 鈥 even by tapping phones. The aim is simple: more use, less breakage.

Sustainability threads through these choices. Lighter loads, smarter provisioning, and better planning save fuel and cut emissions today, while the fuels partnership targets tomorrow.聽

鈥淪olutions will come in all shapes and sizes,鈥 said Douglas. 鈥淲e intend to be out front.鈥

From a standing start to a fast鈥憇caling national carrier, the message is clear: grow with purpose. Add destinations each month. Ramp the fleet on schedule. Make sustainability part of the experience, not a bolt鈥憃n.

鈥淲e鈥檙e up and running 鈥 and we鈥檙e only getting started,鈥 he said.


UAE鈥檚 Al-Futtaim commits $2.7bn to 黑料社区 to support Vision 2030 goals聽

UAE鈥檚 Al-Futtaim commits $2.7bn to 黑料社区 to support Vision 2030 goals聽
Updated 8 sec ago

UAE鈥檚 Al-Futtaim commits $2.7bn to 黑料社区 to support Vision 2030 goals聽

UAE鈥檚 Al-Futtaim commits $2.7bn to 黑料社区 to support Vision 2030 goals聽

RIYADH: UAE-based conglomerate Al-Futtaim has committed SR10 billion ($2.6 billion) in new investments over the next three years in 黑料社区, reinforcing its long-term partnership with the Kingdom. 

The announcement, made at the Future Investment Initiative conference in Riyadh, highlights the group鈥檚 focus on localization, talent development, and diversified economic growth, the company said in a press release. 

The new commitment builds on Al-Futtaim鈥檚 existing SR5 billion investments in 黑料社区 and is projected to create more than 1,000 jobs. 

The conglomerate鈥檚 commitment is part of the broader wave of strategic investments being unveiled at the FII, a platform that has facilitated more than $250 billion in deals since its inception less than a decade ago. 

Marwan Shehahdeh, group director, corporate development at Al-Futtaim, said: 鈥満诹仙缜檚 Vision 2030 demands an approach that goes beyond mere deployment of capital. It requires partners who bring operational expertise, regional experience, and a genuine commitment to building from within.鈥 

He added: 鈥淥ur SR10 billion pledge is a tangible expression of our confidence in the Kingdom鈥檚 potential and our readiness to actively contribute to its economic diversification and innovation agenda.鈥  

In September, Al-Futtaim acquired a 49.95 percent stake in 黑料社区鈥檚 Cenomi Retail in a $689 million deal. 

The partnership aims to develop omnichannel, AI-driven, and customer-centric retail experiences, expanding access to international brands and elevating the consumer landscape in 黑料社区. 

Through its insurance arm, Orient Insurance, the group is supporting financial sector resilience and economic inclusion by offering customer-focused insurance and financing solutions. 

Al-Futtaim is also expanding its real estate portfolio to contribute to 黑料社区鈥檚 urban transformation, creating integrated developments that foster community connectivity and enhance quality of life. 

鈥淥ur strategic investments are a commitment to fostering a dynamic ecosystem where innovation flourishes, local talent excels, and 黑料社区鈥檚 Vision 2030 is realized through collaborative effort,鈥 Shehahdeh added. 


Saudi economy minister projects 5.1% real GDP growth for 2025

Saudi economy minister projects 5.1% real GDP growth for 2025
Updated 36 min 44 sec ago

Saudi economy minister projects 5.1% real GDP growth for 2025

Saudi economy minister projects 5.1% real GDP growth for 2025

RIYADH: 黑料社区鈥檚 Minister of Economy and Planning Faisal Alibrahim has projected the Kingdom鈥檚 real gross domestic product to expand by 5.1 percent in 2025, supported by continued momentum in the non-oil sector as the country advances its diversification agenda.

Speaking on a panel at the Future Investment Initiative conference in Riyadh on Wednesday, Alibrahim said: 鈥淲e forecast to close the year in terms of total real GDP growth at around 5.1 percent, and for non-oil GDP around 3.8 percent.鈥

He emphasized that the Kingdom鈥檚 ongoing transformation is a long-term restructuring journey aimed at reducing reliance on hydrocarbons and creating a more resilient, productivity-driven economy.

鈥淲e are prioritizing diversifying our economy away from having to rely on oil, to become a more resilient economy that witnesses sustainable growth driven by productivity, not just by natural resources,鈥 the minister added.

He also highlighted initiatives aimed at empowering entrepreneurs and small businesses as vital drivers of GDP growth and higher-quality economic expansion, emphasizing their role in generating high-value jobs and attracting global talent to strengthen the local workforce.

According to the Ministry of Finance, real GDP growth is expected to reach 4.4 percent in 2025 and 4.6 percent in 2026, both underpinned by the steady expansion of non-oil activities.

Earlier this month, the International Monetary Fund raised its forecast for 黑料社区鈥檚 2025 economic growth to 4 percent, citing higher oil output and improving global demand.

The Kingdom is currently undergoing a sweeping economic transformation under Vision 2030, the national strategy launched by Crown Prince Mohammed bin Salman to strengthen non-oil industries, attract foreign investment, and enhance fiscal sustainability.

Government ministers have repeatedly described Vision 2030 as the country鈥檚 鈥渘orth star,鈥 guiding efforts to achieve balanced, long-term growth beyond the oil economy.


Humain partners with AirTrunk for $3bn data center investment in 黑料社区

Humain partners with AirTrunk for $3bn data center investment in 黑料社区
Updated 29 October 2025

Humain partners with AirTrunk for $3bn data center investment in 黑料社区

Humain partners with AirTrunk for $3bn data center investment in 黑料社区

RIYADH: Artificial intelligence company Humain has reached an agreement with AirTrunk that will see a $3 billion investment for a data center campus in 黑料社区.

The Public Investment Fund-owned firm will work with the Asia-Pacific company, which is backed by the world鈥檚 largest alternative asset manager Blackstone and Canada Pension Plan Investment Board.

Under the deal, Humain will lead 黑料社区鈥檚 efforts to deliver large-scale AI-ready infrastructure, while Blackstone and AirTrunk will bring global expertise, operational excellence and investment capacity. 

The deal aligns with Humain鈥檚 mandate to position the Kingdom as a global leader in artificial intelligence and reinforces its commitment to building best-in-class digital and AI infrastructure.

鈥淭ogether with AirTrunk and Blackstone, Humain is strengthening the technological infrastructure that underpins the Kingdom鈥檚 digital economy,鈥 said Tareq Amin, CEO of Humain. 

Amin further said that this partnership also marks a pivotal moment in creating scalable, secure, and sustainable data center capacity to support the rapid growth of AI and cloud computing in 黑料社区. 

鈥淭his initiative not only accelerates 黑料社区鈥檚 technological advancement but also establishes a platform for long-term economic diversification and global competitiveness,鈥 added Amin. 

Under the scope of the partnership, both Humain and AirTrunk will cooperate across several key areas, including data center design, construction, and operation; financing through equity and debt; and go-to-market initiatives to attract hyperscalers and enterprise clients.

The partnership will also focus on developing local talent and capabilities, supporting 黑料社区鈥檚 ambition to build a globally competitive and sustainable digital ecosystem.

鈥淥ur strategic partnership with Humain, a key player in the region, will support 黑料社区 to realize its vision of being a data- and AI-driven economy,鈥 said Robin Khuda, founder and CEO at AirTrunk. 

He added: 鈥淭his announcement strengthens the AirTrunk data center platform as we deliver world-class digital infrastructure for the cloud and AI across the Asia Pacific and now the Middle East, which is one of the fastest growing regions in the world.鈥 

Stephen Schwarzman, chairman, CEO and co-founder of Blackstone, said that the company continues to bring scale and expertise across the AI ecosystem as the largest provider of data centers globally and a significant investor in related services and infrastructure.

Schwarzman added: 鈥淭his initiative reinforces Blackstone鈥檚 position as one of the world鈥檚 leading investors in digital infrastructure and marks a commitment to deepening our presence in the Middle East.鈥


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

780 firms move regional HQs to Riyadh, says Saudi investment minister聽聽
Updated 29 October 2025

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

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

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. 


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

Alat to begin PC and server production at Riyadh factory this year, CEO confirms聽
Updated 29 October 2025

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

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

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

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

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. 

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. 

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 has a lot of applications as well,鈥 added Midha. 

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. 

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. 

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

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. 
 
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