عربي English Türkçe اردو فارسى
Logo
Latest News
Business

HP CEO Announces Launch of 1st Advanced Manufacturing Facility in Riyadh, Creating Thousands of Jobs

HP’s President and CEO, Enrique Lores (Asharq Al-Awsat)
HP’s President and CEO, Enrique Lores (Asharq Al-Awsat)
TT
TT

HP CEO Announces Launch of 1st Advanced Manufacturing Facility in Riyadh, Creating Thousands of Jobs

HP’s President and CEO, Enrique Lores (Asharq Al-Awsat)
HP’s President and CEO, Enrique Lores (Asharq Al-Awsat)

Saudi Arabia continues to attract global investments as it builds a future-ready economy in line with its ambitious Vision 2030.

In the latest development, HP Inc. announced plans to establish an advanced manufacturing facility in Riyadh, a Center of Excellence for AI and R&D in Dhahran, and expand initiatives to equip young Saudis with digital skills. These efforts underscore HP’s commitment to making Saudi Arabia a hub for technology and innovation.

In an exclusive interview with Asharq Al-Awsat, HP’s President and CEO, Enrique Lores, highlighted the vast potential in Saudi Arabia, emphasizing that these strategic AI investments will accelerate regional growth. He reaffirmed HP’s dedication to manufacturing, education, and research, all aimed at fostering innovation and supporting the company’s global expansion.

A key component of HP’s investment is the launch of a high-tech manufacturing facility in Riyadh. Under the “Made in Saudi Arabia” initiative, the company aims to increase local production to serve domestic and regional markets while enhancing supply chain efficiency by reducing reliance on external manufacturing.

Lores explained that this investment will create thousands of jobs by 2027, nurture local talent, and contribute to economic growth. He noted that this is not only HP’s first manufacturing facility in the Middle East but also one of its few worldwide, reflecting the company’s long-term commitment to Saudi Arabia.

HP will begin by manufacturing desktop computers, followed by laptops and printers, establishing Saudi Arabia as a regional leader in tech production. Lores stressed that the investment goes beyond meeting local demand—it aims to position Saudi Arabia as a hub for technology manufacturing and exports.

According to Lores, HP is also making a major push into AI research and development with the launch of its Center of Excellence for AI and R&D in Dhahran. The center will play a key role in developing AI-powered solutions for sectors such as healthcare, smart cities, and energy. It will also train Saudi talent in AI development and commercialization, collaborating with global AI experts and Saudi companies to create cutting-edge applications.

Unlike traditional AI research centers that focus primarily on large-scale models, HP’s Center of Excellence will prioritize practical AI applications to help businesses seamlessly integrate AI-driven solutions.

Lores explained that the center’s focus will be on AI applications in smart cities, healthcare, and energy, with flexibility to adapt based on industry needs. HP also aims to attract top international AI specialists to Saudi Arabia, fostering a thriving AI ecosystem in the Kingdom.

He emphasized that transforming Saudi Arabia into a global AI hub requires both investing in local talent and drawing top AI experts from around the world.

HP is reinforcing its commitment to education and workforce development by training teachers to integrate AI into classrooms. The company is also collaborating with policymakers to develop AI-driven curricula, equipping students with essential AI skills through interactive learning and gaming.

Lores stressed that building a strong digital economy requires investment in education at all levels, from teacher training to designing AI-integrated curricula for students.

A major part of this effort is the HP Gaming Garage Lab at the Saudi Electronic University, launched in June 2024. The lab offers micro-certifications in AI, gaming, and technology, providing a direct pathway to employment in Saudi Arabia’s growing tech sector.

Through these initiatives, HP is actively shaping Saudi Arabia’s digital future and enhancing its global competitiveness in emerging technologies. Lores reaffirmed HP’s commitment to being a key player in Saudi Arabia’s digital transformation, manufacturing sector, and AI development.

He concluded: “Our investments reflect HP’s deep commitment to supporting the ambitious goals of Vision 2030.”

Most Viewed

 
 
Business

Saudi Arabia Records Slowest Inflation Since February 2025

A supermarket in Saudi Arabia (SPA) 
A supermarket in Saudi Arabia (SPA) 
TT
TT

Saudi Arabia Records Slowest Inflation Since February 2025

A supermarket in Saudi Arabia (SPA) 
A supermarket in Saudi Arabia (SPA) 

Saudi Arabia’s annual inflation eased noticeably in January, rising 1.8 percent year on year, the slowest pace since February last year, signaling positive momentum for the domestic economy.

According to official data, inflation in January 2026 was driven mainly by higher housing, water, electricity, gas and other fuel prices, which rose 4.2 percent. Transport costs increased 1.5 percent, while restaurant and accommodation services rose 1 percent.

Housing rents remain the largest contributor to inflation, with actual rents climbing 5.2 percent annually.

Economists said January’s slowdown points to greater price stability and easing living costs, reflecting government measures to support growth.

Osama bin Ghanem Al-Obaidi, an advisor and professor of international commercial law, said the 1.8 percent annual rate is the lowest among G20 countries. While housing and utilities remain the largest contributors, he noted that rent increases are now less intense than in recent months.

Al-Obaidi added that inflation control in Saudi Arabia remains effective, with relative price stability supporting consumer purchasing power and easing pressure on low-income households. He said January’s data reflects growing market stability, with pressures in some categories contained by demand.

Economist Ahmed Al-Shahri, for his part, noted that the moderation in inflation boosts confidence and encourages investment and broader economic activity. He attributed the improvement to government efforts to ensure economic stability and advance sustainable development, underscoring the effectiveness of fiscal and economic policies.

Al-Shahri highlighted housing and rental measures introduced under the direction of Crown Prince and Prime Minister Mohammed bin Salman, noting their significant impact. Despite the 1.8 percent annual rise, he said inflation remains low by historical standards, indicating that price pressures are gradually easing after post-pandemic global shocks and supply-chain disruptions.

Category Breakdown

Transport prices rose 1.5 percent year on year, driven by a 6 percent increase in passenger transport services. Restaurant and accommodation prices increased 1 percent, reflecting higher food and beverage services. Personal care and other goods and services surged 7.9 percent, led by higher jewelry and watch prices. Insurance and financial services rose 3.3 percent, while food and beverages edged up 0.2 percent.

Furniture and household equipment prices fell 0.3 percent, and health prices dipped 0.1 percent.

On a monthly basis, the consumer price index rose 0.2 percent in January compared with December 2025, supported by higher housing, transport and restaurant prices, while food and beverages declined 0.6 percent.

 

 

 

Business

Gold Drops over 1% as Thin Trading, Profit‑taking Weigh

An Indian woman tries on gold jewelry at a jewelry store in Bangalore (EPA)
An Indian woman tries on gold jewelry at a jewelry store in Bangalore (EPA)
TT
TT

Gold Drops over 1% as Thin Trading, Profit‑taking Weigh

An Indian woman tries on gold jewelry at a jewelry store in Bangalore (EPA)
An Indian woman tries on gold jewelry at a jewelry store in Bangalore (EPA)

Gold prices dropped on Monday, pressured by thin trading volumes as US and China markets remained shut due to local public holidays, while some traders booked profits after last session's 2.5% jump.

Spot gold fell 1.1% to $4,986.32 per ounce by 0550 GMT. US gold futures for April delivery lost 0.8% to $5,005.60 per ounce.

"Gold has given back some of Friday's post-CPI ‌gains today due to ‌thinner trading conditions and a lack ‌of ⁠fresh upside catalysts," said ⁠Tim Waterer, KCM chief analyst, referring to the US consumer price inflation data. He also pointed to profit-taking on the day.

US markets are closed for the Presidents' Day holiday, while markets in China are closed for the Lunar New Year holiday. The US CPI rose 0.2% in January after an unrevised 0.3% gain in December, ⁠the Labor Department's Bureau of Labor Statistics said ‌on Friday.

Economists polled by Reuters ‌had forecast the CPI to increase by 0.3%. Federal Reserve Bank of ‌Chicago President Austan Goolsbee said on Friday that interest rates could ‌go down, but noted that services inflation remained high.

Market participants anticipate the central bank to hold interest rates at its next meeting on March 18. Still, they are pricing in 75 basis points in rate ‌cuts this year, with the first expected in July, according to data compiled by LSEG.

Non-yielding ⁠bullion tends ⁠to do well in low-interest-rate environments. "It will likely require the dollar to resume its downtrend for gold to make a push in the direction of $6,000 before year-end," Waterer said.

On the geopolitical front, the US military is preparing for the possibility of a weeks-long operation against Iran should President Donald Trump authorize an attack, two US officials told Reuters, in what could become a far more serious conflict than previously seen between the countries.

Spot silver lost 2.4% to $75.64 per ounce, after a 3% fall earlier in the session. The white metal rose 3.4% on Friday. Spot platinum slipped 0.8% to $2,045.11 per ounce, while palladium shed 0.7% to $1,673.52.

Business

Saudi Arabia Elected President of Arab Housing and Reconstruction Council Executive Office

Saudi flags seen in Riyadh (SPA)
Saudi flags seen in Riyadh (SPA)
TT
TT

Saudi Arabia Elected President of Arab Housing and Reconstruction Council Executive Office

Saudi flags seen in Riyadh (SPA)
Saudi flags seen in Riyadh (SPA)

The Council of Arab Ministers of Housing and Reconstruction announced Saudi Arabia’s election as President of the Executive Office of the council for the 2026-2027 term during its 42nd session held in Doha.

During the meeting, the council also approved the theme for Arab Housing Day 2026, proposed by the Kingdom, which focuses on community resilience, building adaptive communities, promoting urban sustainability, and enhancing the readiness of Arab cities to address future challenges.

The council seeks to strengthen Arab coordination in housing and construction and to leverage the diverse expertise of member states in developing housing policies and urban planning, supporting balanced urban development across the Arab region.

Through its presidency of the Executive Office, the Kingdom will support joint Arab cooperation initiatives and promote the exchange of technical and regulatory expertise in urban planning and the development of real estate systems and legislation, helping Arab countries create more efficient and sustainable housing environments.

The adoption of the 2026 Arab Housing Day slogan reflects a shared Arab stance on building communities capable of adapting to economic, environmental, and social changes, and providing adequate housing that improves the quality of life in Arab cities.