蹤獲弝け

蹤獲弝け inks Turkish defense deals to accelerate localization of land systems

蹤獲弝け inks Turkish defense deals to accelerate localization of land systems
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The Public Investment Fund-owned group signed the deals with Nurol Makina, FNSS, and Aselsan. SAMI
蹤獲弝け inks Turkish defense deals to accelerate localization of land systems
2 / 2
The Public Investment Fund-owned group signed the deals with Nurol Makina, FNSS, and Aselsan. SAMI
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Updated 24 July 2025

蹤獲弝け inks Turkish defense deals to accelerate localization of land systems

蹤獲弝け inks Turkish defense deals to accelerate localization of land systems

JEDDAH: 蹤獲弝けn Military Industries has signed technology transfer-focused agreements with three leading Turkish defense firms to accelerate the localization of advanced land systems manufacturing in the Kingdom.

The Public Investment Fund-owned group signed the deals with Nurol Makina, FNSS, and Aselsan under the patronage and presence of Khalid bin Hussein Al-Biyari, assistant minister of defense for executive affairs; Ahmed bin Abdulaziz Al-Ohali, governor of the General Authority for Military Industries; and Haluk Gorgun, president of Turkiyes Defense Industries Agency, according to a statement.

Driven by Vision 2030 goals, the Kingdom is pursuing defense self-sufficiency to reduce reliance on imports. At the forefront of this transformation is SAMI, established in 2017, with a mandate to localize 50 percent of the countrys defense spending by the end of the decade through strategic partnerships and joint ventures with leading global manufacturers.

The agreements were signed by Mohammed bin Saud Al-Hodaib, executive vice president of SAMI Land. Each of the recently signed agreements varies in scope and purpose, with the ultimate goal of localizing SAMI Lands capabilities. SAMI said.

It added that the first agreement with Nurol Makina focuses on technology transfer and the manufacturing of military vehicles produced by the Turkish company, while the deal with FNSS Defense Systems outlines cooperation on technology transfer and the production of armored combat vehicles and weapon turrets.

SAMI Land will also leverage its agreement with ASELSAN (Askeri Elektronik Sanayi), for technology transfer to localize the manufacturing of combat turret systems within 蹤獲弝け, the statement said.

Technology transfer and manufacturing under these agreements will take place at the SAMI Land Industrial Complex, or SLIC, which is scheduled to begin operations in the fourth quarter of this year and will adhere to the highest international standards for land systems manufacturing.

It will serve as a center of excellence for the manufacturing of 4x4, 6x6, and 8x8 armored vehicles, in addition to armed turrets. SAMI said, adding that SLIC operates under Industry 4.0 standards, leveraging artificial intelligence, the Internet of Things, and robotics to carry out advanced unmanned operations managed by intelligent systems, thereby enhancing efficiency and quality without direct human intervention.

The statement said that SAMI Land is committed to advancing the companys strategic objectives by supporting the localization of the Kingdoms defense industries through the development of advanced industrial capabilities and the delivery of high-quality products and services across the entire product lifecycle, meeting the needs of its clients.

Al-Ohali inaugurated the Saudi pavilion at the International Defense Industry Fair, IDEF 2025, being held at the Istanbul Fair Center from July 22 to 27, as part of SAMIs expanding global presence.

During the event, Al-Ohali met with Haluk Gorgun, where they discussed recent developments in the defense industry and explored ways to strengthen bilateral cooperation, reflecting the depth of strategic ties between the two countries and supporting the Kingdoms aspirations for more impactful partnerships in this vital sector.

As part of GAMIs efforts to enhance localization, the Saudi pavilion at IDEF 2025 saw Al-Esnad Factory, a leading Saudi private facility specializing in military parts manufacturing, sign three memorandums of understanding with leading Turkish companies, including MDH Makel Group, AKSA Group, and Ayyazilim Co.

These strategic partnerships reflect GAMIs efforts to enable the sector and transfer and localize technology, the authority said in a post on X.

Last July, SAMI signed MoUs with Turkish firms Baykar, Fergani Space, and Aselsan to localize capabilities in drones, aerospace, and advanced electronics, further strengthening bilateral defense cooperation and enhancing the Kingdoms industrial base.


ADNOC deploys AI system for oil terminals

ADNOC deploys AI system for oil terminals
Updated 16 September 2025

ADNOC deploys AI system for oil terminals

ADNOC deploys AI system for oil terminals
  • Developed by Innovez One, a leading port management system provider, the technology optimizes resource allocation and enables real-time tracking of marine activities across ADNOC L&Ss UAE ports

RIYADH: ADNOC Logistics and Services has launched the Gulf Cooperation Councils first AI-powered Smart Port Solution to enhance petroleum port operations, according to the Emirates News Agency.

Developed by Innovez One, a leading port management system provider, the technology optimizes resource allocation and enables real-time tracking of marine activities across ADNOC L&Ss UAE ports, including Das, Zirku, Mubaraz, Ruwais, and Jebel Dhana.

The solution slashes vessel turnaround time by up to 90 percent, reducing service sourcing from three hours to 45 seconds. It is projected to save 3,000 hours annually, yielding operational savings of $950,000 by 2028. Additionally, jetty utilization has increased by 20 percent, boosting overall port efficiency and improving vessel management by 10 percent.

Capt. Abdulkareem Al-Masabi, CEO of ADNOC L&S, emphasized the companys focus on innovation: This smart port solution reinforces our commitment to leveraging AI to optimize operations, drive value for our business and customers, and advance sustainability.

David Yeo, CEO of Innovez One, highlighted the collaborations impact: Our AI-driven solution not only streamlines workflows but also supports ADNOC L&Ss sustainability goals, positioning UAE petroleum ports as a global benchmark for smart operations.

ADNOC L&Ss adoption of cutting-edge AI aligns with its strategy for operational excellence and sustainable growth.


蹤獲弝けs Social Development Bank grants $1.73bn in financing by Q3

蹤獲弝けs Social Development Bank grants $1.73bn in financing by Q3
Updated 16 September 2025

蹤獲弝けs Social Development Bank grants $1.73bn in financing by Q3

蹤獲弝けs Social Development Bank grants $1.73bn in financing by Q3

RIYADH: 蹤獲弝けs Social Development Bank disbursed SR6.5 billion ($1.73 billion) in financing in the first nine months of 2025, benefiting over 90,000 citizens and enterprises, after extending SR8 billion in 2024. 

Of this, SR2.5 billion supported self-employed practitioners and productive families, reaching 53,000 beneficiaries including 14,500 in the third quarter, the Saudi Press Agency reported.  

Strengthening small, medium, and emerging industries is a key goal of 蹤獲弝けs Vision 2030, as the Kingdom works to diversify its economy and reduce its decades-long reliance on crude oil revenues. 

FASTFACTS

More than SR2.4 billion went to 7,300 small and emerging enterprises, with 2,400 of them financed in the third quarter alone. 

Social financing accounted for SR1.6 billion, benefitting 30,000 people, including 10,000 during the latest quarter. 

Quoting Ahmed Al-Rajhi, minister of human resources and social development and chairman of SDB, SPA stated that the achievements reflect the effectiveness of the Banks strategic directions in empowering individuals and establishments, and providing an attractive labor market for local and global capabilities, in support of the national economy. 

The report added that more than SR2.4 billion went to 7,300 small and emerging enterprises, with 2,400 of them financed in the third quarter alone. Social financing accounted for SR1.6 billion, benefitting 30,000 people, including 10,000 during the latest quarter. 

Sultan Al-Hamidi, CEO of SDB, said these achievements align with the support the bank receives from Saudi leadership to advance the Kingdoms comprehensive development. 

He added that the institution will continue serving as a national development enabler through an integrated system of financing and non-financing solutions aimed at empowering entrepreneurs, fostering enterprise growth, and transforming ideas into sustainable projects. 

In December, SDB signed an agreement with Saudi National Bank to launch a financing portfolio to support entrepreneurship in the Kingdom. 

The portfolio, introduced under SNBs Ahalina program, was set to provide SR10 million ($2.66 million) in funding to entrepreneurs, SPA reported at the time. 

Under the deal, SNB and SDB agreed to strengthen public-private cooperation to boost the Kingdoms entrepreneurial landscape. 


蹤獲弝け, New Zealand deepen ties with $100m in commercial deals

蹤獲弝け, New Zealand deepen ties with $100m in commercial deals
Updated 17 September 2025

蹤獲弝け, New Zealand deepen ties with $100m in commercial deals

蹤獲弝け, New Zealand deepen ties with $100m in commercial deals
  • Trade and Investment Minister Todd McClay led a delegation of 21 New Zealand businesses to 蹤獲弝け
  • 蹤獲弝け is one of New Zealands largest and fastest-growing export destinations in the Middle East.

RIYADH: 蹤獲弝け is one of the most dynamic markets in the Middle East, New Zealands trade minister has claimed after deals valued at $100 million were signed by businesses from the two countries.

Todd McClay spoke to Arab News during a visit to Riyadh where he led a delegation of 21 New Zealand businesses to promote trade and investment ties with the Kingdom.

The memorandums of understanding signed during the trip included those involving NIG Nutritionals and Al Dawaa Pharmacies, 26 Seasons and Qassim Strawberry & Fruit Cooperative Society, and Gallagher Animal Management and Al Tajweed.

 

 

These partnerships mark an important step in deepening New Zealands trade relationship with 蹤獲弝け and across the Gulf region. Together, they are expected to generate more than $100 million in commercial value for New Zealand, McClay said.

This will give our exporters a significant boost, reinforce New Zealand as a reliable trade partner, and contribute to our goal of doubling the value of exports in 10 years, he added.

The official also held a meeting with Khalid Al-Falih, 蹤獲弝けs Minister of Investment, to discuss opportunities for deeper investment links between the two countries.

 

 

The meeting builds on the conclusion of the New ZealandGulf Cooperation Council Free Trade Agreement last year and a growing commitment to enhanced trade and investment cooperation.

We reached an agreement with 蹤獲弝け in the GCC last year for a free trade agreement, and were looking forward to signing it in the region in the coming months, McClay told Arab News.

But this was an opportunity to bring a number of New Zealand businesses here to find partners and people to trade and invest with, to grow a strong business relationship in the Kingdom, he added.

 

 

Trade with 蹤獲弝け has grown significantly in recent years, with exports up 118 percent since 2021. According to the New Zealand Ministry for Trade & Investment and Agriculture, 蹤獲弝け is one of the two largest export destinations in the Middle East, and the 18th largest market globally.

As of June, two-way trade reached 1.6 billion New Zealand dollars ($960 million), with exports valued at 1.35 billion dollars. Dairy dominated at 80 percent of New Zealand exports, followed by meat at nearly 10 percent.

According to the New Zealand Year-end June report, 蹤獲弝け is New Zealand's 22nd largest trading partner. 

Todd McClay. (AN photo by Huda Bashatah)

蹤獲弝け is one of the most dynamic markets in the Middle East, worth$2.8 trillion and is driving one of the largest global transformations and rebuild programs through its Vision 2030 strategy, McClay said.

The minister believes the success of the negotiation of the trade agreement is significant, saying: Its one of the first trade agreements that the GCC has concluded in quite a long period of time that theyve decided to do it with New Zealand, I think, is an honor for us.

He added: But it really now is just the foundation for how we can grow that relationship further. 

Todd McClay speaking to Arab News. (AN photo by Huda Bashatah)

蹤獲弝け is already one of New Zealands largest and fastest-growing export destinations in the Middle East.

As of 2025, the two countries mark 48 years of diplomatic relations. Exports have more than doubled in four years, from $620 million in June 2021 to $1.35 billion in June, bringing two-way trade to $1.58 billion.

During his trip the minister held multiple sideline meetings, including with the Saudi Public Investment Fund to scout opportunities available in the Kingdom, as well as visiting the Expo 2030 site.


Closing Bell: Saudi main index rises to 10,519

Closing Bell: Saudi main index rises to 10,519
Updated 16 September 2025

Closing Bell: Saudi main index rises to 10,519

Closing Bell: Saudi main index rises to 10,519

RIYADH: 蹤獲弝けs Tadawul All-Share Index rebounded on Tuesday, gaining 91.67 points, or 0.88 percent, to close at 10,518.73. 

The total trading turnover of the benchmark index was SR4.32 billion ($1.15 billion), with 233 stocks advancing and 20 declining. 

蹤獲弝けs parallel market, Nomu, also rose 0.29 percent, closing at 25,022.58. 

The MSCI Tadawul Index edged up 0.81 percent to 1,369.12. 

The best-performing stock on the main market was Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, with its share price rising 9.97 percent to SR28.68. 

Retal Urban Development Co. shares climbed 5.85 percent to SR12.30, while Saudi Ground Services Co. gained 5.60 percent to SR44.10. 

Conversely, National Medical Care Co. fell 1.82 percent to SR161.50. 

In corporate news, Almarai Co. announced the launch of its dollar-denominated sukuk under its $2 billion Trust Certificate Issuance Program. 

According to a Tadawul statement, the offering period began on Sept. 16 and will run through Sept. 17. The minimum subscription is $200,000, in increments of $1,000, while the final value, return, and maturity will be determined by market conditions. 

Almarais share price rose 2.53 percent to SR45.10. 

First Milling Co. said it signed a binding agreement to acquire 60 percent of the share capital of Al-Kenan Al-Arabia Trading Co., a single-person limited liability company registered in 蹤獲弝け. 

The Tadawul statement noted that the transaction includes the transfer of ownership in accordance with the agreements terms and conditions, subject to regulatory approvals and customary conditions required to complete such deals. 

First Milling added that the acquisition aligns with its growth strategy, aimed at expanding activities in the feed sector, diversifying revenue sources, and strengthening its market position in the Kingdom and beyond. 

The companys share price rose 0.69 percent to SR51.30. 


PIF-backed AviLease, Hassana form aircraft leasing JV

PIF-backed AviLease, Hassana form aircraft leasing JV
Updated 16 September 2025

PIF-backed AviLease, Hassana form aircraft leasing JV

PIF-backed AviLease, Hassana form aircraft leasing JV

JEDDAH: 蹤獲弝けs Public Investment Fund-backed AviLease has partnered with Hassana Investment Co. to establish a new aircraft leasing joint venture, underscoring growing public-private collaboration in advancing the Kingdoms aviation sector. 

Hassana, the investment manager of the General Organization for Social Insurance, will hold the majority stake in the venture. AviLease, which manages an aircraft portfolio worth over $7 billion, will act as the platforms aircraft service provider, according to a press release. 

The partnership comes as AviLease expands, having placed Boeing and Airbus orders in June, secured a $1.5 billion financing facility in April, and received investment-grade ratings.

The company is targeting a fleet of about 200 aircraft in 蹤獲弝けs growing aviation market. 

The move aims to broaden access to aviation financing for local and international investors while supporting the Kingdoms National Aviation Strategy. This supports the Kingdoms updated target of drawing 150 million visitors a year by 2030, up from the original Vision 2030 goal of 100 million.

AviLease CEO Edward OByrne said the collaboration with Hassana enhances the companys position as a PIF-backed lessor. 

The proposed joint venture is a foundational step in building a scalable platform that supports the growth of 蹤獲弝けs aviation ecosystem. We look forward to further developing this partnership through future transactions and expanding our footprint in the global aircraft leasing market, he added. 

As its first transaction, the JV will acquire a portfolio of 10 aircraft from AviLease, currently leased to Saudi carriers. The fleet consists of new-generation, fuel-efficient models, aligning with 蹤獲弝けs push to boost efficiency and sustainability in its expanding aviation infrastructure. 

Hani Al-Jehani, acting CEO and chief investment officer, Hassana, said: This strategic partnership underscores our commitment to investing in resilient assets that generate sustainable, long-term cash flows supported by strong fundamentals.  

He added: Through our collaboration with AviLease, we aim to strengthen our exposure to the aviation leasing sector while advancing the Kingdoms broader aviation aspirations.  

Al-Jehani said the initiative is fully aligned with the mandate to pursue attractive investment opportunities that advance the funds portfolio objectives. 

Fahad Al-Saif, chairman of AviLease, called the partnership a significant step, adding that it represents the private sectors first entry into the fast-growing aviation leasing space and reflects deeper collaboration between PIF companies and private investors. 

He further emphasized that such partnerships provide a robust financial platform, capable of attracting high-quality local and international investments while reinforcing 蹤獲弝けs growing financial market presence regionally and globally. 

Hassana manages more than SR1.2 trillion ($300 billion) in assets, deploying its scale and expertise across sectors and geographies to generate long-term value.  

Earlier this year, the firm signed a memorandum of understanding with Saudi Real Estate Refinance Co., another PIF subsidiary, to launch the regions first residential mortgage-backed securities further reflecting its role in diversifying 蹤獲弝けs financial markets and pioneering innovative investment initiatives.