萝莉视频

PIF launches 萝莉视频鈥檚 first duty-free company to boost travel retail market

The company plans to develop luxury retail outlets in select locations across the country, offering a range of products, including unique items from 萝莉视频. File
The company plans to develop luxury retail outlets in select locations across the country, offering a range of products, including unique items from 萝莉视频. File
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Updated 10 March 2025

PIF launches 萝莉视频鈥檚 first duty-free company to boost travel retail market

PIF launches 萝莉视频鈥檚 first duty-free company to boost travel retail market

RIYADH: 萝莉视频鈥檚 Public Investment Fund has launched Al Waha Duty Free Operating Co. as part of its strategy to capture a larger share of the Kingdom鈥檚 travel retail market, contributing to the nation鈥檚 economic growth.

In a press statement, it was announced that Al Waha is the first Saudi-owned duty-free operator. The company plans to develop luxury retail outlets in select locations across the country, offering a range of products, including unique items from 萝莉视频.

With assets under management totaling $925 billion, PIF is one of the world鈥檚 most influential sovereign wealth funds. It is also leading 萝莉视频鈥檚 efforts to diversify its economy and reduce its reliance on oil revenues.

鈥淏y establishing Al Waha as a national travel retail champion, PIF intends to grow the Saudi travel retail industry and further support its ambitions for the tourism sector in 萝莉视频,鈥 said Majed Al-Assaf, head of Consumer Goods and Retail in Middle East and North Africa Investments at PIF.聽

He added: 鈥淎l Waha will offer a distinctive traveler experience across Saudi travel retail touch points through diverse product offerings, a duty free operation and a superior digital customer journey.鈥

The company will also operate its airport outlets on a duty-free basis and explore additional travel retail opportunities at land border crossings and seaports, as well as through channels like inflight shopping.

The launch of Al Waha aligns with 萝莉视频鈥檚 broader ambition to become a leading global tourism destination by the end of this decade. The Kingdom is aiming to attract 150 million visitors by 2030.

Al-Assaf emphasized that 萝莉视频 has a significant opportunity to capture a larger share of travel retail spending in the future, as the Kingdom continues to establish itself on the global tourism map and prepares to host several major international events in the years ahead.

鈥淭here is considerable potential for 萝莉视频 to gain a larger share of travel retail spending in the future, and the continued increase in visitors coming to the Kingdom 鈥 as well as global events being hosted locally 鈥 offer new opportunities to generate sustainable travel retail revenues,鈥 he added.聽

Some of the major global events that 萝莉视频 will host in the coming years include the 2027 Asia Cup, the 2029 Asian Winter Games, Expo 2030, and the 2034 FIFA World Cup.

To further accelerate the Kingdom鈥檚 tourism sector, the PIF has launched several key initiatives, including Riyadh Air, the new national carrier aimed at transforming Riyadh into a major international air travel hub, and Cruise Saudi, based in Jeddah, which seeks to position 萝莉视频鈥檚 coastline as a top global destination.

PIF鈥檚 retail investments also include Saudi Coffee Co., Al Madinah Heritage Co. (focused on high-quality date production), and Sawani, a producer of camel milk products.


Global leaders call for unity against cybersecurity threats

The Global Cybersecurity Forum Annual Meeting kicked off in Riyadh on Wednesday. (AN photo by Abdulrahman bin Shalhoub)
The Global Cybersecurity Forum Annual Meeting kicked off in Riyadh on Wednesday. (AN photo by Abdulrahman bin Shalhoub)
Updated 01 October 2025

Global leaders call for unity against cybersecurity threats

The Global Cybersecurity Forum Annual Meeting kicked off in Riyadh on Wednesday. (AN photo by Abdulrahman bin Shalhoub)
  • Dangers highlighted at Global Cybersecurity Forum in Riyadh
  • Saudi 鈥榮howing the way,鈥 Senegal鈥檚 Macky Sall tells Arab News

RIYADH: Day one of the Global Cybersecurity Forum Annual Meeting concluded here with calls for governments and the private sector to secure critical infrastructure and build international agreements against mounting cybersecurity threats.

Macky Sall, the former president of Senegal, told Arab News at the GCF: 鈥淐ybersecurity is a global challenge. It ignores borders.

鈥淪o if you want to have global action and be positive, we should bring together countries, states and nations and the private sector who are leading the big platform, what we call Big Tech.鈥

鈥(The) Kingdom of 萝莉视频, with this initiative, launched in 2020, the Global Cybersecurity Forum, is showing the way, and the Kingdom invests a lot to fight terrorism and to develop capabilities,鈥 he added.

Now in its fifth edition, the forum aims to continue strengthening the safety and resilience of cyberspace by advancing international collaboration.

The forum announced the Global Initiative for Capacity Building in Cyberspace, a major plan to scale cohesive advances in cyberspace, and strengthen online resilience.

The new initiative aims to deliver accelerated capacity development at scale in areas of greatest need through expert-led workshops, training and education programs, international simulations and cyber drills, and policy development support.

Also planned is collaboration around research and development to enhance the skills of beneficiaries worldwide, including policy practitioners, law enforcement personnel, and cyber diplomats.

Implementation will be led by 萝莉视频鈥檚 National Cybersecurity Authority, Saudi Information Technology Co., and the GCF, in partnership with UN agencies.

The plan is to include the UN Development Program, UN Office on Disarmament Affairs, UN Office on Drugs and Crime, UN Interregional Crime and Justice Institute, UN Institute for Disarmament Research, and the International Telecommunication Union, alongside Interpol.

In an interview with Arab News, Jurgen Stock, former secretary-general of Interpol, said: 鈥淕CF is a wonderful and a needed platform, a global platform to deal with something that is global by nature, which is cybercrime.鈥

鈥淎ll the threats related to our digital environment, which I mean, almost since a couple of years, have only shown one direction.

鈥淭he numbers, unfortunately, are going up, and now with new technologies coming up, artificial intelligence first and foremost, of course, this threat is not going away.鈥

鈥淎nd we have to deal and to address that threat in a collective way. No country, no region, no company, no government can fight that in isolation. We need strong partnerships. And I think this is exactly what GCF is about.鈥

Stock praised 萝莉视频 for 鈥渋ts efforts in building partnerships with law enforcement, with regulators, telecommunication companies, IT security companies, and finally also law enforcement help closing these gaps as quickly as possible.鈥

According to the GCF 2024 Cybersecurity Workforce Report there is a worldwide shortage of 2.8 million cybersecurity professionals and skills gaps reported by 43 percent of information security executives.

The report highlights the urgency of a coordinated global effort to bridge persistent cybersecurity capacity gaps.

Speaking at a panel titled 鈥淎gainst the Odds: Gaining Consensus Amid Complexity,鈥 Croatia鈥檚 former president Kolinda Grabar-Kitarovic called for stronger regulation of AI and greater information sharing.

Sall urged action to bridge divides between developed and developing countries, while former US cyber director Chris Inglis emphasized the importance of building digital infrastructure that delivers real benefits for citizens.

Global leaders at the forum emphasized the importance of future-proofing international agreements, closing the digital gap between nations, and fostering collaboration that delivers tangible benefits.


Saudi budget carrier flyadeal begins service to Damascus聽

Saudi budget carrier flyadeal begins service to Damascus聽
Updated 01 October 2025

Saudi budget carrier flyadeal begins service to Damascus聽

Saudi budget carrier flyadeal begins service to Damascus聽

RIYADH: Saudi low-cost carrier flyadeal has started direct flights to Damascus, re-establishing air links between the two countries after a period of suspended services.

The inaugural flight, arriving from Jeddah on Oct. 1, was welcomed by Abdullah Al-Harith, Saudi deputy ambassador to Syria, at Damascus International Airport. 

The airline received regulatory approval earlier this year to operate to Syria, with CEO Steven Greenway announcing a planned launch in July. 

The move is part of a wider regional trend, with airlines such as flynas, FlyDubai, and Royal Jordanian also resuming services to Damascus. 

The return of international carriers follows recent decisions by the US and EU to lift long-standing economic sanctions on Syria, enabling renewed trade, tourism, and investment opportunities. 


KAFD and RCRC sign agreement to launch first phase of Riyadh Creative District

KAFD and RCRC sign agreement to launch first phase of Riyadh Creative District
Updated 01 October 2025

KAFD and RCRC sign agreement to launch first phase of Riyadh Creative District

KAFD and RCRC sign agreement to launch first phase of Riyadh Creative District

RIYADH: The first phase of the Riyadh Creative District is set to take shape after the King Abdullah Financial District Development and Management Co. signed a lease agreement with the Royal Commission for Riyadh City. 

Under the deal, RCRC will lease three landmark buildings within KAFD to host RCD鈥檚 initial operations, positioning the district as a hub for media, cultural, and creative technology enterprises. 

The initiative supports Vision 2030 objectives to transform Riyadh into a global center for innovation and culture. Launched under the patronage of Crown Prince Mohammed bin Salman, RCD seeks to unite Saudi and international talent to drive content creation, cultural exchange, and economic diversification. 

Mohammed Al-Sudairy, acting CEO at KAFD DMC, said the agreement 鈥渉ighlights KAFD鈥檚 commitment to shaping the industries of tomorrow.鈥   

He added: 鈥淏y bringing together creative thinkers, business leaders, and cultural institutions in a single destination, we are opening doors for emerging talent and advancing Riyadh鈥檚 status as a global hub for creative and cultural innovation.鈥  

Mazen Tammar, vice president of City Marketing and Investment Promotion at RCRC, noted that hosting RCD鈥檚 first phase in KAFD 鈥渞eflects our shared vision of building Riyadh into a world-leading destination for creativity and innovation.鈥   

He emphasized that the initiative 鈥渨ill empower the creative community, nurture local creative talent, attract global partners, and advance Riyadh鈥檚 role as a cultural and economic hub in line with Vision 2030.鈥  

The RCD was launched in February by the RCRC board of directors and has already begun attracting international institutions.   

Earlier this year, Italian fashion school Instituto Marangoni inaugurated its Riyadh campus within the district, marking a key milestone in the project's development.  


Closing Bell: Saudi main index closes in green at 11,529聽

Closing Bell: Saudi main index closes in green at 11,529聽
Updated 01 October 2025

Closing Bell: Saudi main index closes in green at 11,529聽

Closing Bell: Saudi main index closes in green at 11,529聽

RIYADH: 萝莉视频鈥檚 Tadawul All Share Index rose on Wednesday, gaining 26.39 points, or 0.23 percent, to close at 11,529.36. 

The total trading turnover of the benchmark index was SR5.99 billion ($1.59 billion), as 116 of the listed stocks advanced, while only 131 retreated. 

The MSCI Tadawul Index also increased, up 6.46 points or 0.43 percent, to close at 1,506.44. 

The Kingdom鈥檚 parallel market Nomu gained 116.96 points, or 0.46 percent, to close at 25,589.40. This comes as 48 of the listed stocks advanced, while 34 retreated. 

The best-performing stock was Saudi Kayan Petrochemical Co., with its share price surging by 6.37 percent to SR6.01. 

Other top performers included Nahdi Medical Co., which saw its share price rise by 4.45 percent to SR124.30, and Gulf Union Alahlia Cooperative Insurance Co., which saw a 3.94 percent increase to SR13.97. 

CHUBB Arabia Cooperative Insurance Co. rose 3.82 percent to SR41.32, while Middle East Paper Co. gained 3.19 percent to SR28.50. 

On the downside, Fawaz Abdulaziz Alhokair Co. slipped 3.24 percent to SR27.48, making it the session鈥檚 weakest performer. 

Derayah Financial Co. fell 3.09 percent to SR30.72, while Alujain Corp. dropped 2.46 percent to SR34.94. 

Amlak International Finance Co. fell 2.44 percent to SR12.39, while Makkah Construction and Development Co. dropped 2.41 percent to SR87.05. 

On the announcements front, Sustainable Infrastructure Holding Co. has signed an agreement to acquire a 51 percent majority stake in Port Services & Storage Co. for up to SR132 million. 

According to a press release, the deal, which includes an initial payment and future performance-based earn-outs, is slated for completion in the final quarter of 2025, pending regulatory approval. 

This strategic acquisition aims to strengthen SISCO鈥檚 integrated logistics platform, expand its footprint in the Eastern Province, and create synergies with its existing logistics real estate assets. 

SISCO Holding鈥檚 shares traded 0.18 percent higher on the main market to close at SR33.06. 


萝莉视频 signs 5 agreements with Vietnamese firms to expand investment footprint聽

萝莉视频 signs 5 agreements with Vietnamese firms to expand investment footprint聽
Updated 01 October 2025

萝莉视频 signs 5 agreements with Vietnamese firms to expand investment footprint聽

萝莉视频 signs 5 agreements with Vietnamese firms to expand investment footprint聽

RIYADH: 萝莉视频 has signed five agreements with Vietnamese firms spanning construction, tourism, and infrastructure, expanding its investment footprint in the Southeast Asian nation. 

The deals also included advanced furniture manufacturing and workforce training, aimed at strengthening the Kingdom鈥檚 industrial sector and attracting foreign investment, the Saudi Press Agency reported. 

They were signed in the presence of Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef during the Saudi-Vietnamese Business Forum in Hanoi, part of the minister鈥檚 official visit to deepen economic ties and attract quality investments in line with Vision 2030.

The forum was hosted at the Hanoi Chamber of Commerce and Industry and co-organized with the Federation of Saudi Chambers. 

It aligns with 萝莉视频鈥檚 National Industrial Development Program, launched in 2019, which aims to integrate strategic sectors and leverage local content alongside Fourth Industrial Revolution technologies to build a diversified, value-driven economy. 

The development reflects the Kingdom鈥檚 growing focus on international partnerships, underpinned by its $1.92 billion investment in Vietnam across energy, industry, and technology sectors. 

Alkhorayef emphasized the strong bilateral economic relations and the Saudi-Vietnamese Business Council鈥檚 role in boosting cooperation, particularly in industry and mining, according to a statement by the Ministry of Industry and Mineral Resources. 

In a post on his X account, Alkhorayef said: 鈥淚 held bilateral meetings with several investors and leaders of Vietnamese companies to discuss the Kingdom鈥檚 competitive investment advantages, enabling mechanisms and incentives that facilitate foreign investment, and measures to streamline the investor journey.鈥 

He added that the talks explored promising opportunities for industrial and mining cooperation between the two countries. 

The minister emphasized the Kingdom鈥檚 keenness to attract quality foreign investments in industry and mining, outlining the most promising investment opportunities these sectors offer, as well as the enablers and incentives provided by the industrial and mineral resources system to facilitate the journey of international investors. 

These include, he added, financing solutions offered by the Saudi Industrial Development Fund and the Saudi Export鈥揑mport Bank. 

He also shed light on the Kingdom鈥檚 local content policies, which encourage industrial localization and give domestic manufacturers a competitive edge in government procurement, according to the press release. 

Regarding mining, he highlighted its transformation into a key pillar of the national industry under Vision 2030, with the Comprehensive Mining and Mineral Industries Strategy and the National Geological Survey Program increasing 萝莉视频鈥檚 estimated mineral wealth from $1.3 trillion to $2.5 trillion. 

The event was attended by Saudi Ambassador to Vietnam Mohammed Dahlawi, CEO of the National Industrial Development Center Saleh Al-Sulami, Chairman of the Saudi-Vietnamese Business Council Ahmed Al-Theeb, and senior government and private-sector representatives from both countries. 

The forum offered a platform to explore cooperation in advanced industries, research, innovation, and artificial intelligence.