Tripartite deal set to boost homeownership for 40k Saudi families
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Updated 2 min 28 sec ago
Chinaās Lenovo to establish regional HQ in ŗ£½ĒÖ±²„Ā
RIYADH: Chinese technology firm Lenovo Group has announced plans to set up a regional headquarters in ŗ£½ĒÖ±²„ to strengthen its footprint across the Middle East.
This move is part of Lenovoās strategic partnership with ALAT, a company owned by the Public Investment Fund, aiming to support the computer makerās transformation efforts and broaden its global manufacturing presence, according to a statement.
Set to be located in Al Majdoul Tower, the new regional base aligns with Lenovoās long-term dedication to contributing to the Kingdomās Vision 2030 and driving the countryās digital transformation and economic diversification efforts.
It also aligns well with ŗ£½ĒÖ±²„ās government-backed Riyadh regional headquarters program, launched in 2021, which offers incentives such as a 30-year corporate income tax exemption and withholding tax relief, alongside regulatory support for multinationals operating in the Kingdom.
Matt Dobrodziej, president of Lenovo Europe, Middle East, and Africa, said: āThrough our strategic partnership with ALAT and investment in advanced manufacturing, we are proud to contribute to the Kingdomās Vision 2030 by supporting industrial diversification, accelerating digital transformation, and enabling sustainable economic growth.ā
He added: āOur initiatives in ŗ£½ĒÖ±²„, including the RHQ, flagship retail space, and the Riyadh-based manufacturing facility, are projected to contribute up to $10 billion to non-oil gross domestic product by 2030, reinforcing our commitment to the Kingdomās long-term development.ā
As part of the partnership, Lenovo and ALAT began construction in February on a 200,000 sq. meters advanced manufacturing plant located in Riyadh Integrated, within the Special Integrated Logistics Zone. The facility is expected to start producing millions of āSaudi Madeā devices by 2026.
Lenovo is also advancing efforts to set up its regional headquarters in Riyadh. This hub will play a key role in driving the companyās wider regional strategy, which includes investments in a flagship retail location, a VIP customer center, research and development, marketing initiatives, and strategic collaborations throughout ŗ£½ĒÖ±²„.
Almost 600 international companies have set up bases in the Kingdom since 2021, including Northern Trust, IHG Hotels & Resorts, and Deloitte, the Saudi Press Agency reported in March.
The latest move underlines the strengthening bilateral relations between the Kingdom and China, with ŗ£½ĒÖ±²„ being the largest trading partner of the Asian country in the Middle East since 2001.
China and ŗ£½ĒÖ±²„ are strategic partners in various other sectors such as energy and finance, as well as the Belt and Road Initiative.
Updated 4 min 23 sec ago
UN condemns Israeli minister for taunting Palestinian prisoner
- National security minister Itamar Ben Gvir published a video on Friday last week showing him confronting Marwan Barghouti
- UN spokesperson: āThe ministerās behavior and the publication of the footage constitute an attack on Barghoutiās dignityā
GENEVA: The UNās human rights office on Tuesday condemned a far-right Israeli minister for taunting a Palestinian prisoner in his cell and sharing the footage online.
National security minister Itamar Ben Gvir published a video on Friday last week showing him confronting Marwan Barghouti, the most high-profile Palestinian detainee in Israeli custody.
UN Human Rights Office spokesman Thameen Al-Kheetan said the footage was unacceptable, adding: āThe ministerās behavior and the publication of the footage constitute an attack on Barghoutiās dignity.ā
Barghouti, now in his sixties, was sentenced in 2004 to life in prison on murder charges.
Regarded as a terrorist by Israel, he often tops opinion polls of popular Palestinian leaders and is sometimes described by his supporters as the āPalestinian Mandela.ā
āInternational law requires that all those in detention be treated humanely, with dignity, and their human rights respected and protected,ā said Kheetan.
He warned that the ministerās actions āmay encourage violence against Palestinian detaineesā and enable rights violations in Israeli prisons.
Updated 8 min 10 sec ago
Gigi Hadid poses for latest Rabanne campaign
DUBAI: US Dutch Palestinian model Gigi Hadid appeared in a new campaign for Rabanne this week featuring the brandās Million Gold For Her fragrance.
She shared photos on Instagram of herself holding an oversized version of the perfume bottle. In the images, Hadid wore a sharp pinstripe suit with black lapels and fine white stripes, styled with bold gold accessories that included chunky oval hoop earrings and a thick chain necklace.
She captioned the post: āItās always golden hour with @rabanne.ā
Hadid, named as a global ambassador for the brand in August 2024, revealed behind-the-scenes shots of the campaign shoot.
āThe making of the āmillion goldā commercial was days of trying to keep a straight face through the joy and fun that is dancing with @stephengalloway on set,ā she wrote.
āFeeling golden being the newest ambassador of this iconic fragrance ā many, many thanks to my new family at @rabanne and to all who made this week wonderful.ā
Hadid has been focused on her fashion brand, Guest in Residence, and launched a summer collection inspired by New York in June.
āIām endlessly inspired by New York City ā a place Iāve called home for many years ā and the notion that weāre all guests here. For our collection, we embrace the great duality every New Yorker faces in summer: the thrill of a busy day in the city, paired with the urge to hop in a car with friends and escape to somewhere quiet and laid-back,ā Hadid is quoted as saying on the Guest in Residence Instagram page.
Hadid launched her clothing label, which features soft, colorful knitwear, in September 2022. Celebrities spotted wearing the designs include Blake Lively, Ryan Reynolds, Taylor Swift and Bradley Cooper.
In June, Hadid also unveiled a new campaign with Brazilian footwear brand Havaianas. The model starred in a vintage-inspired series of photographs. In the shots, she shows off slippers from her collaboration with the brand and is seen wearing retro outfits on a beach.
She celebrated the launch at a party in Altro Paradiso in New York. At the event, she wore flip flops paired with a white tweed Marc Jacobs minidress, featuring vibrant scattered crystals.
Updated 1 min 1 sec ago
Air Canada to resume service as flight attendantsā union end strike
- First strike by its cabin crew in 40 years that had upended travel plans for hundreds of thousands of passengers
- The carrier said it would gradually resume operations and a full restoration may require a week or more
MONTREAL/TORONTO: Air Canadaās unionized flight attendants reached an agreement with the countryās largest carrier on Tuesday, ending the first strike by its cabin crew in 40 years that had upended travel plans for hundreds of thousands of passengers.
The strike that lasted nearly four days had led the airline that serves about 130,000 people daily to withdraw its third quarter and full-year earnings guidance.
The carrier said it would gradually resume operations and a full restoration may require a week or more, while the union said it has completed mediation with the airline and its low-cost affiliate Air Canada Rouge.
āThe Strike has ended. We have a tentative agreement we will bring forward to you,ā the Canadian Union of Public Employees said in a Facebook post.
Air Canada said some flights will be canceled over the next seven to ten days until the schedule is stabilized and that customers with canceled flights can choose between a refund, travel credit, or rebooking on another airline.
āAir Canadaās Q3 just taxied back to the gate with hundreds of canceled flights that could take up to 10 days to make up for,ā said Michael Schulman, chief investment officer at Running Point Capital.
Even though stranded passengers expressed frustration as many were forced to sleep in airports or scramble for alternate flights, they sympathized with the workers on strike.
The carrier had earlier offered a 38 percent increase in total compensation for flight attendants over four years, with a 25 percent raise in the first year, which the union deemed insufficient.
The flight attendants walked off the job on Saturday after contract talks with the carrier failed. They had sought pay for tasks such as boarding passengers, which are not remunerated. They are now paid for time when the plane is moving.
The CUPE, which represents Air Canadaās 10,400 flight attendants, wanted to make gains on unpaid work that go beyond recent advances secured by their counterparts at US carriers like American Airlines.
In a rare act of defiance, the union remained on strike even after the Canada Industrial Relations Board declared its action unlawful.
Their refusal to follow a federal labor board order for the flight attendants to return to work had created a three-way standoff between the company, workers and the government.
Jobs Minister Patty Hajjdu had urged both sides to consider government mediation and raised pressure on Air Canada, promising to investigate allegations of unpaid work in the airline sector, a key complaint of flight attendants who say they are not paid for work on the ground.
Over the past two years, unions in aerospace, construction, airline and rail sectors have pushed employers for higher pay, improved conditions and better benefits amid a tight labor market.
Air Canadaās flight attendants have for months argued new contracts should include pay for work done on the ground, such as boarding passengers, but neither the union nor the airline disclosed whether that issue was addressed in the deal.
Its CEO had on Monday in a Reuters interview stopped short of offering plans to break the deadlock, while defending the airlineās offer of a 38 percent boost to flight attendantsā total compensation.
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