Saudi companies to manufacture parts for Lockheed’s THAAD defense system
The US defense and aerospace company Lockheed Martin has signed agreements for Saudi Arabian companies to manufacture parts of its Terminal High Altitude Area Defense (THAAD) system, the company announced on Monday. “These sub-contracts will enhance manufacturing capabilities in Saudi Arabia and transfer expertise to strengthen the country’s defense industry,” Lockheed said in a statement. […]
Saudi Aramco & DHL Supply Chain launch JV company ‘ASMO’
Aramco, one of the world’s leading integrated energy and chemicals companies, and DHL Supply Chain (DHL), a global leader in contract logistics, have formed a joint venture company, ASMO (Advanced Supply Management Operations), a new Procurement and Logistics Services Hub in Saudi Arabia. ASMO intends to meet the growing demand for more sustainable and efficient […]
Saudi Arabia explores strengthening media cooperation with Egypt
Saudi Arabia’s Minister of Media, Salman bin Yousef Al-Dosari, has discussed ways to bolster collaborative media efforts between the Kingdom and the Arab Republic of Egypt during his official visit to Egypt alongside various senior officials. The meeting transpired in the New Administrative Capital, where Al-Dosari was welcomed by the Egyptian Prime Minister, Dr. Mostafa […]
Saudi Arabia, Swiss Fund to launch billion-euro zero-emissions investment initiative
In a move towards bolstering investments in zero-emissions projects, Saudi Minister of Investment Eng. Khalid Al-Falih announced a collaboration with a Swiss fund aimed at launching financing initiatives in the debt market. This partnership is set to mobilize billions of euros, showcasing Saudi Arabia’s commitment to becoming a leading destination for sustainable investment. Al-Falih made […]
Prince Khalid bin Salman launches locally assembled new Hawk jet
Saudi Minister of Defense Prince Khalid bin Salman inaugurated on Sunday the new identity for the fleet of Hawk aircraft on the occasion of the 25th anniversary of its founding. On the occasion of the rolling out of the latest jet Hawk aircraft assembled in Saudi Arabia, the minister said on his X account: “I […]
Payout rate set at 5.64% as subscription for first individual savings product Sah begins
Saudi Arabia started subscription to the first Shariah-compliant, government-backed savings product for individuals namely Sah on Sunday Feb. 4. The payout rate for the first issue is determined at 5.64 percent, and the subscription period will end at 3 p.m. on Tuesday, Feb. 6. The Saudi Ministry of Finance and the National Debt Management Center (NDMC) […]
Defense minister opens World Defense Show 2024 in Riyadh
On behalf of Crown Prince and Prime Minister Mohammed bin Salman, Minister of Defense Prince Khalid bin Salman inaugurated the second edition of the World Defense Show 2024 in Riyadh on Sunday. The General Authority for Military Industries (GAMI) is organizing the defense exhibition that is being held under the patronage of Custodian of the Two […]
Boeing, Bahri in deal to boost Saudi supply chain activities
Global aerospace giant Boeing’s Saudi unit has signed a strategic agreement with a major business unit of Bahri, a global leader in logistics and transportation, that will see the duo collaborate in the areas of supply chain and distribution in the kingdom. Announcing the strategic deal, Boeing said it aims to bolster the group’s supply […]
Solutions by stc completes acquisition of Devoteam Middle East
Solutions by stc, the enabler of digital transformation in Saudi Arabia and the region, has completed the acquisition of 40 percent of Devoteam Middle East, a subsidiary of the globally renowned Devoteam Group, a leader in digital consulting. The total value of Devoteam Middle East is approximately $197 million (SAR741.7 million). This acquisition was done […]
Saudi Arabia approves $27mn to counter terrorism
Minister of Defense Prince Khalid bin Salman bin Abdulaziz, who also serves as the Chairman of the Council of Defense Ministers of the member states of the Islamic Military Counter Terrorism Coalition (IMCTC), has announced the Kingdom’s approval of a $27 million contribution to the IMCTC’s initiatives financing fund. The announcement came during the meeting […]