MUST-READS

• Saudi Arabia Maps Out Ambitious Quantum Strategy

  The Kingdom of Saudi Arabia has caught the quantum science bug and last month issued an expansive report — Quantum Economy Landscape in Saudi Arabia —  that is part of Saudi Arabia’s vision to become a “Centre for the Fourth Industrial Revolution.” The report is largely a primer on quantum technology’s basics and potential applications. Much of the basic information will be familiar to longtime quantum landscape watchers. It concedes Saudi Arabia is still building its quantum expertise but notes that its flourishing university and technology sectors are aggressively courting quantum expertise.

• Nose Design Experience to Develop New Fleet for Saudi Arabia Railways

  As part of an order with Stadler AG for the initial delivery of 10 passenger trains, Nose Design Experience will be responsible for the complete interior and exterior design of the new units, all of which will be developed in line with technical constraints and compliance standards. SAR has also reserved the option for an additional 10 trainsets from Stadler AG. In order to deliver the project, Nose will work closely with Stadler’s main engineering team in Bussnang, Switzerland.

• Saudi Industrial Production Index increases by 3.4% in November 2024

  The General Authority for Statistics of Saudi Arabia (GASTAT) released on Thursday the Industrial Production Index (IPI) statistics for November 2024, showing a 3.4% increase compared to the same month of the previous year.  According to the Saudi Press Agency (SPA), the IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

• Why Saudi Arabia is interested in GCAP – and whether it should be

  Much remains unclear about the Global Combat Air Programme (GCAP), including design, technical specifications, and cost. But perhaps the most intriguing aspect is Saudi Arabia’s desire to join the United Kingdom, Italy and Japan in developing the sixth-generation fighter. Saudi officials first expressed their interest in GCAP back in 2023, citing defense industrial and economic reasons. They see an opportunity in localizing parts of GCAP, be it in manufacturing, technology, or human capital. The goal, they insist, is not a symbolic or junior partnership but an equal one whereby the kingdom has a stake and participation in the program that meets its defense and economic ambitions. But let’s be blunt: While there are several reasons why the three GCAP nations should entertain adding Saudi Arabia to the program, there are fewer clear reasons why the Saudis would want to join up. And that requires a closer examination of what leadership in Riyadh may be thinking.

• How Do Products Obtain the Saudi Quality Mark?

  The Saudi Quality Mark can be obtained through several steps, starting with manufacturers and companies submitting applications electronically via the website of the Saudi Standards, Metrology, and Quality Organization (SASO). The application is then reviewed, followed by field visits and studies that are monitored regularly. Random samples are taken from production lines, and tests are conducted on them in SASO's laboratories. Upon acceptance of the application, the products are added to the license after it is issued, which can be canceled at any time. Consumers can verify the authenticity of the Saudi Quality Mark on products through "Taakkad" mobile application.

  • Tabseer - Will The 2034 World Cup Boost Investment in Saudi Arabia?
• Lebanon’s parliament chooses army commander Aoun as president, ending a 2-year deadlock

  Lebanon’s parliament voted Thursday to elect the country’s army commander, Joseph Aoun, as head of state, filling a more than two-year-long presidential vacuum. The vote came weeks after a tenuous ceasefire agreement halted a 14-month conflict between Israel and the Lebanese militant group Hezbollah and at a time when Lebanon’s leaders are seeking international assistance for reconstruction. Aoun, no relation to former president Michel Aoun, was widely seen as the preferred candidate of the United States and Saudi Arabia, whose assistance Lebanon will need as it seeks to rebuild.

• How to start a business in Saudi Arabia for foreigners

  The Ministry of Investment is the primary authority guiding and regulating investments in Saudi Arabia. It facilitates investment licenses and provides comprehensive information about opportunities, incentives, guarantees, and legal frameworks. Saudi Arabia is a land of opportunity for foreign investors, offering a dynamic business environment shaped by Vision 2030. This transformative initiative aims to diversify the Kingdom's economy and foster sustainable development. With comprehensive reforms and government support, the process of establishing a business in Saudi Arabia has become more accessible. Al Othman Lawyers & Consultants, with years of experience, is a trusted partner for foreign investors navigating this journey.

• Lenovo, world’s largest PC maker, to launch factory in Saudi Arabia

  Technology giant Lenovo will further diversify its supply chain and plans to open more manufacturing facilities outside China amid global geopolitical uncertainty, Chairman Yang Yuanqing said. Lenovo, the world’s largest PC maker, has most of its plants in China, a common situation in the electronics industry that creates potential vulnerability as US President-elect Donald Trump threatens to impose 60 per cent tariffs on Chinese imports. Yang told Reuters that while it’s too early to predict the new US administration’s policies, Lenovo has an advantage over competitors in hedging such risks through its more diversified manufacturing base and sourcing strategy, as well as balanced regional revenue streams.

• Lenovo and Alat Complete US$2 Billion Investment and Reach Strategic Collaboration Agreements

  The global technology powerhouse Lenovo Group Limited (HKSE: 992) (ADR: LNVGY) and Alat, a PIF company, have announced the completion of the US$2 billion investment (via three-year zero-coupon convertible bonds) alongside reaching the strategic collaboration agreements that were initially announced in May 2024. The deal has received shareholders’ approval and all regulatory approvals required for completion. Following the completion, Lenovo will establish a regional Middle East and Africa headquarters (RHQ) in Riyadh, Kingdom of Saudi Arabia (KSA), and a sustainable manufacturing facility in the Kingdom to serve customers in the region and beyond. The factory will manufacture millions of PCs and servers every year using local research and development (R&D) teams for fully end-to-end ‘Saudi Made’ products and is expected to begin production by 2026. The factory will join Lenovo’s extensive footprint of 30+ manufacturing sites around the world, spanning Argentina, Brazil, China, Germany, Hungary, India, Japan, Mexico, and the USA.  

• Trump’s Doral Resort to Host Saudi-Backed LIV Golf in April

  Donald Trump’s resort near Miami will host the Saudi-backed LIV Golf tournament in April, according to a schedule posted Tuesday — a signal that the president-elect’s business ties to the Middle East will carry through his second term, along with concerns over conflicts of interest. The event marks the fourth straight year that LIV will come to the Trump National Doral golf club, but it will be the first time with Trump as sitting US president. LIV is bankrolled by Saudi Arabia’s sovereign wealth fund and has also hosted events at Trump Organization properties in New Jersey and Washington, DC, since its first season in 2022.

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