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  • Alat and Lenovo Break Ground on Major New Manufacturing Facility in the Kingdom of Saudi Arabia

    The new manufacturing hub, which is expected to begin production in 2026, will be located just 15 minutes from Riyadh´s international airport in the Kingdom’s Special Integrated Logistics Zone (SILZ). It will complement Lenovo’s extensive manufacturing footprint of 30+ factories around the world spanning Argentina, Brazil, China, Germany, Hungary, India, Japan, Mexico, and the USA, and further increase supply chain resilience and flexibility. The new manufacturing hub will also enable Lenovo to be closer to customers in the Middle East and Africa (MEA) region. The factory will be constructed on a 200,000 sqm campus site at “Riyadh Integrated” operated by Special Integrated Logistics Zone (SILZ) and will produce millions of “Saudi Made” laptops and desktops, as well as servers in a factory designed, constructed, and operated to high standards of sustainability. Today’s celebration follows the deal closing that was announced on January 8th 2025, following shareholder and regulatory approvals, and marks the completion of the US$2 billion investment (via three-year zero-coupon convertible bonds) alongside the strategic collaboration agreement that was initially announced in May 2024.

  • Saudi Arabia condemns Israel’s ‘extremist, occupying mentality’ in growing row over housing Palestinians

    Saudi Arabia has accused the Israeli government of pursuing an 'extremist, occupying mentality' amid a growing row over the claim it could house millions of Palestinians on its land. In a strongly worded statement on Sunday, its Foreign Ministry accused Israel of "continuous crimes" and "ethnic cleansing" of the Palestinian people. It followed comments made by Israeli Prime Minister Benjamin Netanyahu to an Israeli TV channel, saying: “The Saudis can create a Palestinian state in Saudi Arabia; they have a lot of land over there." The Saudi statement on Sunday mentioned Mr Netanyahu's name but did not directly refer to the comments about establishing a Palestinian state in Saudi territory. The UAE and Egypt are among the Arab states to condemn Mr Netanyahu's suggestion. "The kingdom stresses its categorical rejection to such statements that aim to divert attention from the continuous crimes committed by the Israeli occupation against the Palestinian brothers in Gaza, including the ethnic cleansing they are subjected to," the Saudi Foreign Ministry said.

  • Jordan condemns Netanyahu’s ‘incendiary calls’ for establishing Palestinian state in Saudi Arabia

    Jordan condemned on Sunday Israeli Prime Minister Benjamin Netanyahu’s statements about establishing a Palestinian state in Saudi Arabia, deeming them “incendiary calls” and a “violation of international law”, Anadolu news agency reported. “The Israeli government continues its provocative policies and statements that undermine the sovereignty of nations and the principles of international law,” Foreign Ministry spokesman Sufian al-Qudah said in a statement. He stressed Jordan’s “absolute rejection of these provocative statements, which reflect an exclusionary and inciting ideology hostile to peace and contribute to further escalation in the region.”

  • Arab states slam Netanyahu over suggestion to move Palestinians to Saudi Arabia

    Arab governments have slammed Israeli Prime Minister Benjamin Netanyahu's remarks that a Palestinian state should be established in Saudi Arabia. Netanyahu – wanted by the International Criminal Court for alleged war crimes and crimes against humanity in Gaza – suggested earlier this week that Palestinians should be moved to Saudi Arabia which has "a lot of land," calling a Palestinian state a "security threat" to Israel. Riyadh quickly rebuffed the Israeli leader's comments in a foreign ministry statement, reiterating that normalisation with Israel would only be possible if an independent Palestinian state was established. Netanyahu and his far-right government have outright rejected a Palestinian state, which many Palestinians want to see include the Gaza Strip and the occupied West Bank, with occupied East Jerusalem as its capital. The comments came amid Netanyahu's visit to Washington this week, where he appeared alongside US President Donald Trump, who unveiled a controversial plan to "take over" Gaza and displace millions of Palestinians

  • Saudi’s Red Palace hotel hits 60% construction milestone, says Boutique Group CEO

    Saudi Arabia’s Boutique Group is ahead of schedule on its flagship Red Palace hotel project, with construction more than 60 per cent complete as the ultra-luxury hospitality company prepares to set new service standards in the Kingdom. The Public Investment Fund-owned company is targeting completion slightly earlier than its planned April 2026 opening date, according to Chief Executive Officer Christoph Mares. The project, which will transform one of Riyadh’s historic landmarks into an ultra-luxury hotel, will boast what the company claims will be the highest staff-to-guest ratio in global luxury hospitality.

  • The Trump Effect: The Potential Impact of the U.S. President on the Saudi Economy

    Any increase in policy interest rates in the United States would make borrowing more expensive at a time when the Saudi public sector is continuing to borrow heavily to fund the ambitious Vision 2030 projects. Also, higher interest rates would raise borrowing costs for individuals and businesses, potentially slowing private consumption and investment, although these links are hard to identify empirically in Saudi Arabia and the Gulf. Last, in a higher interest rate environment, the dollar, to which the Saudi riyal is pegged, may continue to strengthen, hurting the competitiveness of emerging Saudi sectors, such as tourism.

  • Analysis Of 2025 Saudi Budget

    On November 26, 2024, The Saudi Council of Ministers, headed by Prince Mohammed bin Salman, Crown Prince and Prime Minister, approved the state's general budget for the year 2025 this evening and issued a decision regarding it. As it was expected by many economists the 2025 Saudi budget projected a deficit of $27 billion. Public expenditures expected to be at $243 billion, While public revenue projected at $316 billion. For the year ending 2024 budget, the authorities estimated revenue at $328 billion, and spending at $359 billion, with a deficit of $31 billion. The authorities projected capital spending at $49 billion for 2025, which constitutes about 14% of total projected public spending. Oil revenue for the current year (2024) is estimated to be $202 billion, while non-oil revenue is expected to jump to $126 billion, which represents 38% of 2024 revenue as the result of the government aim of diversifying its source of revenue and not only depend on oil export revenue.

  • Saudi Sports for All Federation Unveils Riyadh Marathon Route, Venues, and Sponsors for Inaugural SFA International Sporting Events

    The SFA Expo will serve as the marathon’s bib collection hub and will feature interactive zones focused on sports, health, and fitness, showcasing cutting-edge equipment, wellness activities, and emerging technologies. The event will also include a B2B lounge for industry networking, and workshops on mindfulness and nutrition. Another highlight will be the Primal Race on Friday, February 7, a functional fitness challenge featuring a series of high-intensity activities interspersed with 400m group runs.

  • Saudi Arabia’s Billion-Dollar VC Boom: How SVC Is Shaping The Kingdom’s Financial Future

    Saudi Arabia has solidified its position as the top destination for venture capital (VC) investments in the Middle East and North Africa (MENA) region for the second consecutive year. According to data from MAGNiTT, the Kingdom secured $750 million in VC funding in 2024, accounting for 40 percent of total regional VC capital. The nation also witnessed a 16 percent increase in deal flow, closing 178 deals—the highest in the region. The United Arab Emirates (UAE) followed with $613 million in VC investments across 188 deals, leading the region in deal volume and achieving 12 exits.

  • Sony Pictures Classics Acquires Haifaa Al Mansour’s Saudi Thriller ‘Unidentified’

    Sony Pictures Classics has acquired “Unidentified,” the latest feature from groundbreaking Saudi director Haifaa Al Mansour. The film reunites Al Mansour with SPC 13 years after it came aboard her landmark 2012 debut “Wadjda,” which became the first feature to be shot entirely in Saudi Arabia, the first feature shot by a female Saudi director and the first Saudi Oscar submission. Currently in post-production and described as a contemporary Arab-language thriller, “Unidentified” — written and produced by Al Mansour and Brad Niemann (“The Perfect Candidate”) — stars Mila Al Zahrani (“The Perfect Candidate”) and Shafi Al Harthi (“A Woman’s Life”).