World Defense Show Sees Surge in Agreements, Strategic Partnerships

Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
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World Defense Show Sees Surge in Agreements, Strategic Partnerships

Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 

The second day of the third edition of the World Defense Show 2026 in Riyadh witnessed intensified momentum in the signing of defense agreements and strategic partnerships with international entities.

It reflects Saudi Arabia’s drive to localize technology, build national capabilities in the military and defense sectors, and deepen local supply chains in line with Vision 2030.

On the sidelines of the exhibition, the Saudi Ministry of Defense signed 28 contracts with local and international companies specializing in military industries.

Four contracts were signed by Dr. Khaled Al-Biyari, Assistant Minister of Defense for Executive Affairs, with chief executives of France’s MBDA, Raytheon Saudi Arabia, South Korea’s Hanwha Aerospace, and Italy’s Leonardo.

Al-Biyari also attended the signing of eight additional contracts concluded by Ibrahim Al-Suwayed, Undersecretary of Defense for Procurement and Armament, with local and global companies from France, Türkiye, South Korea, and Italy.

A further 16 contracts were signed by executive directors at the Ministry’s Procurement and Armament Agency with representatives of defense firms.

The agreements aim to enhance the readiness and combat efficiency of the armed forces, ensure the sustainability of military systems, and support the localization of defense manufacturing. These efforts align with Vision 2030 targets to localize more than 50 percent of spending on military equipment and services.

In a parallel development, Al-Biyari and German State Secretary at the Federal Ministry of Defense Jens Plötner signed draft arrangements for defense cooperation between the two countries.

The exhibition also highlighted efforts to localize the aviation industry. The Minister of Industry and Mineral Resources oversaw the signing of a memorandum of cooperation between the National Industrial Development Center and European aerospace company Airbus.

The memorandum includes plans to establish engineering centers for manufacturing, assembly, and maintenance, transfer technology and expertise, and develop a logistics ecosystem to support the aviation industry.

It also covers attracting global suppliers to invest locally, exploring procurement and export options, and identifying incentives and financing mechanisms to support joint projects. Training programs and educational partnerships are also planned to qualify Saudi talent to lead the aviation sector and related industries.

Innovation and integration were the central themes of the exhibition’s second day. Eng. Ahmad Al-Ohali, Governor of the General Authority for Military Industries, reaffirmed Saudi Arabia’s commitment to developing integrated and globally competitive defense industries.

He noted that the exhibition reflects national goals to advance localization, strengthen supply chains, and enhance operational readiness across defense and security sectors.

Chief of the General Staff General Fayyadh Al-Ruwaili outlined strategic directions for developing the national defense system in light of evolving global operational conditions. Senior local and international officials participated in discussions on building a resilient defense framework capable of addressing future challenges.

The program also featured “Thought Leadership” sessions focusing on the evolution of defense industries, investment opportunities in aviation and space, and supply chain development.

Activities continued at the Defense Industry Lab and the Saudi Supply Chain Zone, designed to strengthen collaboration among manufacturers and accelerate technology transfer.

Exhibition Chief Executive Officer Andrew Pearcey said the strong international participation reflects Saudi Arabia’s growing role in shaping the future of defense technologies. The World Defense Show brings together 1,468 exhibitors from 89 countries, with live demonstrations and strategic programs covering air, land, sea, space, and security domains.

Further strengthening industrial capabilities, GE Aerospace signed an industrial participation agreement with the General Authority for Military Industries to enhance repair and maintenance capabilities for F110 engines.

A separate memorandum of understanding was also signed to explore building a globally competitive aviation industrial base and accelerating the Kingdom’s manufacturing roadmap. The authority said the agreement would support knowledge transfer, international certification, and the localization of engine component manufacturing.

Major global defense and aerospace companies also reaffirmed their commitment to supporting Saudi Arabia’s localization agenda. Boeing highlighted its support for enhancing readiness and domestic capabilities, while RTX, through Raytheon Saudi Arabia, showcased advanced defense systems and emphasized workforce development and integrated solutions aligned with the exhibition’s theme, “The Future of Defense Integration.”

The World Defense Show continues to consolidate its role as a global platform connecting manufacturers, investors, entrepreneurs, and decision-makers.

Supported by regulatory development, incentive programs, and human capital initiatives, Saudi Arabia has made tangible progress in localization. By 2024, localized military spending had reached nearly 25 percent, local content stood at 40.7 percent, and Saudization reached 63 percent, reinforcing the Kingdom’s ambition to become a regional hub for defense and aviation industries by 2030.

 

 

 

 



Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.


Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 


Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.