海角直播

ACWA Power to implement projects worth $115bn worldwide聽

ACWA Power to implement projects worth $115bn worldwide聽
ACWA Power鈥檚 total聽projects in the Kingdom have increased to 39, with investments聽exceeding $68 billion. Al-Eqtisadiah聽
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Updated 29 October 2025

ACWA Power to implement projects worth $115bn worldwide聽

ACWA Power to implement projects worth $115bn worldwide聽

RIYADH:聽Saudi utilities giant聽ACWA Power聽plans to forge聽strategic partnerships聽and secure major聽financing聽to support its sustainability goals and strengthen聽海角直播鈥檚 position as a global leader in clean and renewable energy, according to聽Hisham聽Tashkandi, the company鈥檚聽regional president in 海角直播.听聽

ACWA Power鈥檚 total聽projects in the Kingdom have increased to 39, with investments聽exceeding $68 billion. These include the聽Shuqaiq,聽Ar聽Rass, and Al聽Kafa鈥檃聽projects, all part of an聽integrated clean energy system聽in 海角直播,.听

The company continues to聽expand its presence聽in renewable energy, water desalination, and green hydrogen through a聽portfolio of large-scale projects聽being developed both domestically and abroad.听

Speaking on the sidelines of the聽Future Investment Initiative forum in Riyadh,聽Tashkandi聽said聽ACWA Power now聽operates聽around 110 projects worldwide, with an聽investment portfolio of about $115 billion.听

He added: 鈥2025 will be a pivotal year for the company, as it anticipates the completion of several major projects that will contribute to enhancing 海角直播鈥檚 capabilities in sustainable energy and water desalination.鈥澛

Tashkandi聽highlighted the聽Shuqaiq,聽Ar聽Rass, and Al聽Kafa鈥檃聽initiatives among the company鈥檚 most significant clean energy ventures.听聽

He noted that ACWA Power currently produces聽around 9 million cubic meters of desalinated water daily worldwide, including聽4 million cubic meters within 海角直播聽鈥 about聽30 percent of the Kingdom鈥檚 total production聽鈥 underscoring the firm鈥檚 role in聽supporting national water security.听

The company is also developing聽projects in Rabigh and Hajr, alongside new initiatives under the聽National Renewable Energy Program, supervised by the聽Ministry of Energy.听Tashkandi聽said ACWA Power recently launched the聽fifth and sixth phases聽of renewable energy projects under the program, with the聽sixth phase valued at about $6 billion.听

Regarding聽green hydrogen, he explained that the聽NEOM Green Hydrogen Project聽will be among the聽largest in the world, producing聽approximately 600聽tonnes聽of hydrogen per day聽once operational. The project marks a聽strategic step聽toward achieving the goals of聽Saudi Vision 2030, including energy diversification and聽carbon emission reduction.听

Tashkandi聽emphasized that ACWA Power will聽continue to play聽a central role聽in the Kingdom鈥檚聽energy transformation聽through strategic partnerships and substantial investments that聽advance sustainability聽and聽solidify 海角直播鈥檚 standing as a global clean energy hub.听聽聽

For his part,聽Mohammad聽Abunayyan,聽founder and聽chairman聽of ACWA Power, said the company鈥檚 projects include generating聽around 4 gigawatts of solar and wind energy.听

He noted that the聽world is facing an urgent need for energy security and supply chain聽stability, and聽highlighted 海角直播鈥檚聽diverse energy resources聽鈥 including solar, wind, and storage 鈥 as a聽unique advantage among Gulf Cooperation Council countries.听

Abunayyan聽added that 海角直播 is building the聽world鈥檚 largest green hydrogen plant, and that聽renewable energy now powers 100 percent of the company鈥檚 desalination operations, helping reduce water and desalination costs by聽about 85 percent over the past decade.听

He also pointed out that聽China plays a crucial role in the global energy transition, saying: 鈥淲ithout China, there would be no energy transition. It is driving innovation and providing solutions for the world.鈥澛


Saudi Local Content Authority targets 2k products on mandatory list in 2026聽

Saudi Local Content Authority targets 2k products on mandatory list in 2026聽
Updated 29 October 2025

Saudi Local Content Authority targets 2k products on mandatory list in 2026聽

Saudi Local Content Authority targets 2k products on mandatory list in 2026聽

RIYADH: The Saudi Local Content and Government Procurement Authority plans to expand its mandatory list of national products to 2,000 items next year, up from about 1,500 currently, according to its CEO Abdulrahman Al-Samari. 

Speaking to , Al-Samari said the expansion will focus on key sectors such as pharmaceuticals, food, and machinery, and depends on the growth of local industrial capabilities and their ability to meet government demand. 

Established in 2019, the authority aims to raise local content in government procurement and projects from about 30 percent to nearly 50 percent, while expanding the number of products on the mandatory list from just 100 national products at inception to 1,500 today.  

The mandatory list requires government entities to prioritize procurement from suppliers using locally produced goods, thereby promoting domestic industries and supply chains. 

Al-Samari noted that the authority has recently signed its first agreement in the cybersecurity sector with the National Information Technology Co. to localize products such as firewalls and data-leak prevention systems, citing their strategic and security importance.  

He added that localizing these technologies will create added value for the national economy and generate high-quality job opportunities for Saudi citizens.  

The CEO also highlighted partnerships in the pharmaceutical, food, machinery, equipment, and vehicle sectors, noting that work is underway to develop national capabilities in automotive manufacturing.  

According to the authority鈥檚 second-quarter 2025 report, the mandatory list currently includes 1,444 national products across 16 sectors. 

Local content is defined as the total spending within 海角直播 through the participation of national labor, goods, and services, aimed at maximizing domestic economic impact and keeping value creation within the Kingdom. 


Riyadh Air putting sustainability up front as it scales: CEO聽

Riyadh Air putting sustainability up front as it scales: CEO聽
Updated 29 October 2025

Riyadh Air putting sustainability up front as it scales: CEO聽

Riyadh Air putting sustainability up front as it scales: CEO聽

RIYADH: 海角直播鈥檚 newest airline Riyadh Air intends to be a thought leader in environmental sustainability while growing its global reach, its CEO has said.

Speaking to Arab News on the sidelines of the ninth Future Investment Initiative conference in Riyadh, Tony Douglas said that while the industry鈥檚 net-zero goal is difficult, the airline will pursue both alternative fuels and near-term operational efficiencies.

This year鈥檚 FII conference is taking place in Riyadh from Oct. 27 to 30, and is being held under the theme 鈥淭he Key to Prosperity: Unlocking New Frontiers of Growth.鈥

Riyadh Air, a new Saudi national airline owned by the Public Investment Fund, began operations on Oct. 26 with the successful completion of its first passenger flight from King Khalid International Airport to London Heathrow.

Douglas said: 鈥淭he net鈥憐ero target that鈥檚 out there, given the physics of powered flight, is extremely difficult,鈥 adding: 鈥淏ut we鈥檙e absolutely committed to this going forward.鈥

Day to day, Riyadh Air will cut waste where it starts, with the CEO pointing to catering as an area to target. Legacy airlines uplift too much food, much of it thrown away. That鈥檚 waste and weight, which means more fuel burn and emissions, said Douglas.

To combat this, guests will be able to preorder meals in the concierge app. This trims waste and gives people exactly what they want. 

The brand rests on three pillars: obsessive guest experience, a digital鈥憂ative mindset, and leadership on environmental sustainability.

鈥淲e鈥檙e building a national carrier that connects the Kingdom to the world 鈥 and delights every guest along the way,鈥 Douglas said. For him, sustainability sits alongside service and tech, not behind them. A digital鈥慺irst approach drives personalization and efficiency 鈥 from meal preorders to smoother trip planning.

Operations began with a symbolic start. 鈥淲e鈥檒l never forget October 26,鈥 Douglas said, recalling the first commercial service. Daily flights to London Heathrow are live, with Dubai next as the network ramps.

Growth will be steady and visible. Completed Boeing aircraft are in certification, with more coming off and entering final assembly each month. The plan is roughly one new jet every month through next year, then two per month. That supports a goal of more than 100 international destinations within five years, setting up Riyadh as a serious global hub.

鈥淕lobal connectivity is an enabler,鈥 Douglas said. In his view, aviation runs across the Kingdom鈥檚 diversification pillars under Vision 2030. The impact is macro and human. The airline expects to support well over 200,000 jobs directly and indirectly as routes open markets, attract investors, and bring tourists.

Service remains the test. 鈥淚t鈥檚 not only what we do 鈥 it鈥檚 how we do it. We want people to be delighted by our service because the brand is real.鈥 

That ethos extends beyond the cabin. Riyadh Air is launching Sfeer, a lifestyle program rather than a traditional loyalty scheme. Members can pool and pass points with family and friends 鈥 even by tapping phones. The aim is simple: more use, less breakage.

Sustainability threads through these choices. Lighter loads, smarter provisioning, and better planning save fuel and cut emissions today, while the fuels partnership targets tomorrow. 

鈥淪olutions will come in all shapes and sizes,鈥 said Douglas. 鈥淲e intend to be out front.鈥

From a standing start to a fast鈥憇caling national carrier, the message is clear: grow with purpose. Add destinations each month. Ramp the fleet on schedule. Make sustainability part of the experience, not a bolt鈥憃n.

鈥淲e鈥檙e up and running 鈥 and we鈥檙e only getting started,鈥 he said.


UAE鈥檚 Al-Futtaim commits $2.7bn to 海角直播 to support Vision 2030 goals聽

UAE鈥檚 Al-Futtaim commits $2.7bn to 海角直播 to support Vision 2030 goals聽
Updated 29 October 2025

UAE鈥檚 Al-Futtaim commits $2.7bn to 海角直播 to support Vision 2030 goals聽

UAE鈥檚 Al-Futtaim commits $2.7bn to 海角直播 to support Vision 2030 goals聽

RIYADH: UAE-based conglomerate Al-Futtaim has committed SR10 billion ($2.6 billion) in new investments over the next three years in 海角直播, reinforcing its long-term partnership with the Kingdom. 

The announcement, made at the Future Investment Initiative conference in Riyadh, highlights the group鈥檚 focus on localization, talent development, and diversified economic growth, the company said in a press release. 

The new commitment builds on Al-Futtaim鈥檚 existing SR5 billion investments in 海角直播 and is projected to create more than 1,000 jobs. 

The conglomerate鈥檚 commitment is part of the broader wave of strategic investments being unveiled at the FII, a platform that has facilitated more than $250 billion in deals since its inception less than a decade ago. 

Marwan Shehahdeh, group director, corporate development at Al-Futtaim, said: 鈥満=侵辈モ檚 Vision 2030 demands an approach that goes beyond mere deployment of capital. It requires partners who bring operational expertise, regional experience, and a genuine commitment to building from within.鈥 

He added: 鈥淥ur SR10 billion pledge is a tangible expression of our confidence in the Kingdom鈥檚 potential and our readiness to actively contribute to its economic diversification and innovation agenda.鈥  

In September, Al-Futtaim acquired a 49.95 percent stake in 海角直播鈥檚 Cenomi Retail in a $689 million deal. 

The partnership aims to develop omnichannel, AI-driven, and customer-centric retail experiences, expanding access to international brands and elevating the consumer landscape in 海角直播. 

Through its insurance arm, Orient Insurance, the group is supporting financial sector resilience and economic inclusion by offering customer-focused insurance and financing solutions. 

Al-Futtaim is also expanding its real estate portfolio to contribute to 海角直播鈥檚 urban transformation, creating integrated developments that foster community connectivity and enhance quality of life. 

鈥淥ur strategic investments are a commitment to fostering a dynamic ecosystem where innovation flourishes, local talent excels, and 海角直播鈥檚 Vision 2030 is realized through collaborative effort,鈥 Shehahdeh added. 


Saudi economy minister projects 5.1% real GDP growth for 2025

Saudi economy minister projects 5.1% real GDP growth for 2025
Updated 29 October 2025

Saudi economy minister projects 5.1% real GDP growth for 2025

Saudi economy minister projects 5.1% real GDP growth for 2025

RIYADH: 海角直播鈥檚 Minister of Economy and Planning Faisal Alibrahim has projected the Kingdom鈥檚 real gross domestic product to expand by 5.1 percent in 2025, supported by continued momentum in the non-oil sector as the country advances its diversification agenda,

Speaking on a panel at the Future Investment Initiative conference in Riyadh on Wednesday, Alibrahim said: 鈥淲e forecast to close the year in terms of total real GDP growth at around 5.1 percent, and for non-oil GDP around 3.8 percent.鈥

He emphasized that the Kingdom鈥檚 ongoing transformation is a long-term restructuring journey aimed at reducing reliance on hydrocarbons and creating a more resilient, productivity-driven economy.

鈥淲e are prioritizing diversifying our economy away from having to rely on oil, to become a more resilient economy that witnesses sustainable growth driven by productivity, not just by natural resources,鈥 the minister added.

He also highlighted initiatives aimed at empowering entrepreneurs and small businesses as vital drivers of GDP growth and higher-quality economic expansion, emphasizing their role in generating high-value jobs and attracting global talent to strengthen the local workforce.

According to the Ministry of Finance, real GDP growth is expected to reach 4.4 percent in 2025 and 4.6 percent in 2026, both underpinned by the steady expansion of non-oil activities.

Earlier this month, the International Monetary Fund raised its forecast for 海角直播鈥檚 2025 economic growth to 4 percent, citing higher oil output and improving global demand.

The Kingdom is currently undergoing a sweeping economic transformation under Vision 2030, the national strategy launched by Crown Prince Mohammed bin Salman to strengthen non-oil industries, attract foreign investment, and enhance fiscal sustainability.

Government ministers have repeatedly described Vision 2030 as the country鈥檚 鈥渘orth star,鈥 guiding efforts to achieve balanced, long-term growth beyond the oil economy.


Humain partners with AirTrunk for $3bn data center investment in 海角直播

Humain partners with AirTrunk for $3bn data center investment in 海角直播
Updated 29 October 2025

Humain partners with AirTrunk for $3bn data center investment in 海角直播

Humain partners with AirTrunk for $3bn data center investment in 海角直播

RIYADH: Artificial intelligence company Humain has reached an agreement with AirTrunk that will see a $3 billion investment for a data center campus in 海角直播.

The Public Investment Fund-owned firm will work with the Asia-Pacific company, which is backed by the world鈥檚 largest alternative asset manager Blackstone and Canada Pension Plan Investment Board.

Under the deal, Humain will lead 海角直播鈥檚 efforts to deliver large-scale AI-ready infrastructure, while Blackstone and AirTrunk will bring global expertise, operational excellence and investment capacity. 

The deal aligns with Humain鈥檚 mandate to position the Kingdom as a global leader in artificial intelligence and reinforces its commitment to building best-in-class digital and AI infrastructure.

鈥淭ogether with AirTrunk and Blackstone, Humain is strengthening the technological infrastructure that underpins the Kingdom鈥檚 digital economy,鈥 said Tareq Amin, CEO of Humain. 

Amin further said that this partnership also marks a pivotal moment in creating scalable, secure, and sustainable data center capacity to support the rapid growth of AI and cloud computing in 海角直播. 

鈥淭his initiative not only accelerates 海角直播鈥檚 technological advancement but also establishes a platform for long-term economic diversification and global competitiveness,鈥 added Amin. 

Under the scope of the partnership, both Humain and AirTrunk will cooperate across several key areas, including data center design, construction, and operation; financing through equity and debt; and go-to-market initiatives to attract hyperscalers and enterprise clients.

The partnership will also focus on developing local talent and capabilities, supporting 海角直播鈥檚 ambition to build a globally competitive and sustainable digital ecosystem.

鈥淥ur strategic partnership with Humain, a key player in the region, will support 海角直播 to realize its vision of being a data- and AI-driven economy,鈥 said Robin Khuda, founder and CEO at AirTrunk. 

He added: 鈥淭his announcement strengthens the AirTrunk data center platform as we deliver world-class digital infrastructure for the cloud and AI across the Asia Pacific and now the Middle East, which is one of the fastest growing regions in the world.鈥 

Stephen Schwarzman, chairman, CEO and co-founder of Blackstone, said that the company continues to bring scale and expertise across the AI ecosystem as the largest provider of data centers globally and a significant investor in related services and infrastructure.

Schwarzman added: 鈥淭his initiative reinforces Blackstone鈥檚 position as one of the world鈥檚 leading investors in digital infrastructure and marks a commitment to deepening our presence in the Middle East.鈥