Industry

MILAN — Full throttle on progress. Less than a year after the inaugural Riyadh Fashion Week illuminated the new King Abdullah Financial District, the Saudi Fashion Commission is swiftly progressing towards establishing a robust local fashion value chain and diversifying into additional fashion-related categories.The expansion of the beauty sector with a focus on fragrances and the creation of a state-of-the-art...

Simplified Financial Solutions Co., a Saudi Arabian fintech venture, has successfully completed a seed funding round, raising a substantial $10 million. The round was spearheaded by Sanabil Investments, owned by the Public Investment Fund, alongside RAED Ventures.Support also came from a diverse group of investors including anb seed, Rua Ventures, Byld, and KBW Ventures, as well as returning investors Khwarizmi...

The global enterprise Honeywell has recently unveiled a new assembly line in Saudi Arabia, specifically designed for the production of fire alarm systems and building management technologies. Strategically situated in Dhahran, this installation is a key part of Honeywell's strategy to enhance its building automation services in the Kingdom and the wider Middle East. By manufacturing products locally, the facility...

The majestic city of Riyadh is set to become the epicenter of technological advancement with the upcoming Future Semiconductors Forum 2024. Organized by the prominent King Abdulaziz City for Science and Technology (KACST) in collaboration with King Abdullah University of Science and Technology (KAUST), this significant event is poised to take place on June 5-6, 2024, at the innovative Garage...

Lenovo, the renowned Chinese computer manufacturer, unveiled its new strategic alliance with Alat, an entity under Saudi Arabia's Public Investment Fund dedicated to pioneering tech investments and eco-friendly manufacturing. Alat has proposed investing $2 billion in zero coupon convertible bonds in Lenovo. The collaboration will establish Lenovo's Middle East and Africa (MEA) regional headquarters in Riyadh, which will feature a...

Lenovo Group Limited has unveiled plans for a substantial expansion in Saudi Arabia, which includes the creation of a technology and manufacturing center. This development comes as a part of a Strategic Collaboration Framework Agreement with Alat, an enterprise under the Public Investment Fund (PIF).The initiative is set to bolster Lenovo's international stature while promoting the Kingdom's transition to eco-conscious...

KAOUN International, in collaboration with MODON, has announced the debut of a landmark industrial summit, the World Advanced Manufacturing & Logistics Summit & Expo (WAM), scheduled for November 11-12, 2024 at the Fairmont Riyadh. The WAM Summit aims to unite Saudi Arabia's key influencers shaping the nation's Industry 4.0 revolution with thought leaders from various key manufacturing sectors. The event...

Saudi Arabia has sustained its momentum in the industrial sector by issuing over 300 industrial licenses in the first quarter of 2024, mirroring the figures from the previous year, as per the latest government data.An official announcement from the Kingdom's Ministry of Industry and Mineral Resources highlighted that a total of 324 industrial permits were granted between January and March,...

A landmark opportunity has arisen for manufacturers worldwide to immerse themselves in Saudi Arabia's rapidly expanding industrial realm, promising engagement with one of the globe's most swiftly evolving manufacturing and logistics epicenters.Announced by KAOUN International and their Strategic Partner MODON, the World Advanced Manufacturing & Logistics Summit & Expo (WAM) is slated to premiere at the Fairmont Riyadh from November...

An expanded partnership in the aerospace sector is on the horizon as Saudi Arabia contemplates the local production or assembly of Embraer airliners, a result of a recent memorandum of understanding (MOU) signed in Riyadh. The National Industrial Development Center (NIDC), the AHQ Group—an industrial conglomerate in the country—and the Brazilian aerospace company Embraer have all expressed their intent to...