عربي English Türkçe اردو فارسى
Logo
Latest News
Business

SAMI Appoints Walid Abukhaled as Acting CEO

Eng. Walid Abukhaled
Eng. Walid Abukhaled
TT
TT

SAMI Appoints Walid Abukhaled as Acting CEO

Eng. Walid Abukhaled
Eng. Walid Abukhaled

The Board of Directors of Saudi Arabian Military Industries (SAMI) announced the appointment of Eng. Walid Abukhaled as acting CEO to oversee the company’s operations.

Abukhaled will be taking over from Dr. Andreas Schwer who has served as the company’s chief executive since January 1, 2018.

On its website, SAMI announced that the decision was made after the assessment of SAMI’s achievements since its inception, which included leveraging the international military industries’ experiences in the transfer of technology and best practices as well as the company's growth to its current position.

The move also comes in line with the company’s overarching aim of localizing these experiences with a deeper understanding of the needs of internal and external customers and achieving the Saudization of leadership positions, SAMI added.

Further, the Board of Directors expressed its gratitude and appreciation to Dr. Schwer for his active role in the establishment of the company during the past nearly two and a half years, and for his contributions and expertise that have enabled SAMI to accomplish many remarkable milestones, wishing him every success in his future career.

The decision to name Abukhaled, SAMI’s Chief Strategy and Business Development Officer, as acting CEO until further notice, comes in recognition of his in-depth knowledge and almost three decades of distinguished career in the military industries.

Abukhaled gained his extensive experience by serving several prominent positions, including CEO for the Middle East at Northrop Grumman, Deputy Minister of Industrial Affairs at the Saudi Ministry of Commerce and Industry, President and CEO of General Electric in Saudi Arabia and Bahrain, and Chairman of the Operations Board and Director of Strategic Investments Group at BAE Systems in the United Kingdom and Saudi Arabia, among others.

Most Viewed

 
 
Business

China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)
TT
TT

China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a prolonged decline in overseas capital inflows.

Under the 2025 edition of the catalogue of industries for encouraging foreign investment, China added more than 200 and revised about 300, with a ‌focus on ‌advanced manufacturing, modern services and ‌green ⁠and ​high-tech ‌sectors, the list jointly issued by the National Development and Reform Commission and the commerce ministry showed.

The new catalogue, which takes effect on February 1, 2026, replaces the 2022 version and continues a policy framework ⁠that offers foreign-invested enterprises tariff exemptions on imported equipment, preferential ‌land pricing, reduced corporate income ‍tax rates in ‍designated regions and tax credits for reinvestment ‍of profits.

The catalogue also extends incentives to central and western regions, as well as the northeast and Hainan, as Beijing seeks to attract ​more foreign investment into less developed areas.

China has in recent months ⁠taken a raft of measures to boost foreign investment, including pilot programs in Beijing, Shanghai and other regions to expand market access in services such as telecoms, healthcare and education, amid trade tensions with the United States.

Foreign direct investment in China totaled 693.2 billion yuan ($98.84 billion) from January to November this year, down 7.5% from the ‌same period last year, data from the commerce ministry showed.

Business

Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
TT
TT

Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)

The Saudi Ministry of Environment, Water and Agriculture launched on Wednesday the Kingdom’s citrus season in local markets as part of its efforts to support and develop the agricultural sector and enhance food security in the country, in line with the Saudi Vision 2030.

The is part of the ministry’s ongoing efforts to support national agricultural products, raise awareness of citrus varieties and their nutritional benefits and production areas, and highlight their year-round diversity across production seasons.

These efforts help in improving marketing efficiency, boost competitiveness, and achieve rewarding economic returns.

Citrus fruits are among the most widely cultivated crops in the Kingdom. They are grown in several regions that produce a variety of citrus types, most notably lemons, oranges, mandarins, grapefruit, citron, and kumquats.

The ministry said lemon production leads Saudi citrus output, with total production exceeding 123,000 tons and more than 1.5 million fruit-bearing trees. Orange production follows, with total output reaching 35,700 tons and more than 397,000 fruit-bearing trees.

The citrus production season in the Kingdom begins in July and continues through March each year, it added.

The ministry said the Saudi citrus season has been launched with a number of major retail markets across the Kingdom showcasing local products through innovative packaging and display methods. This boosts the quality and reliability of local products and increases consumer demand during production seasons.

Business

SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
TT
TT

SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)

Global technology company, SLB, has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields, the company said in a statement on Tuesday.

The move is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally, it said.

The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconventional gas resources - a cornerstone of the Kingdom’s strategy to diversify its energy portfolio and support the global energy transition.

“This agreement is an important step forward in Aramco’s efforts to diversify its energy portfolio in line with Vision 2030 and energy transition goals,” said Steve Gassen, SLB executive vice president.

“With world-class technology, deep local expertise, and a proven track record in safety and service quality, SLB is well positioned to deliver tailored solutions that could help redefine operational performance in the development of Saudi Arabia’s unconventional resources,” he added.

These solutions provide the tools to work toward new performance benchmarks in unconventional gas development.

SLB is a global technology company that drives energy innovation for a balanced planet.

With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, it works on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.