Saudi SAMI Signs Agreements with Airbus Helicopter Arabia, Singapore's ST Engineering

The Aviation and Space Systems Sector signs a contract with Airbus Helicopters Arabia to support SAMI in building its technical capabilities to provide rotercraft technical support to Saudi Armed forces. (SAMI)
The Aviation and Space Systems Sector signs a contract with Airbus Helicopters Arabia to support SAMI in building its technical capabilities to provide rotercraft technical support to Saudi Armed forces. (SAMI)
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Saudi SAMI Signs Agreements with Airbus Helicopter Arabia, Singapore's ST Engineering

The Aviation and Space Systems Sector signs a contract with Airbus Helicopters Arabia to support SAMI in building its technical capabilities to provide rotercraft technical support to Saudi Armed forces. (SAMI)
The Aviation and Space Systems Sector signs a contract with Airbus Helicopters Arabia to support SAMI in building its technical capabilities to provide rotercraft technical support to Saudi Armed forces. (SAMI)

The Aviation and Space Systems Sector, an affiliate of Saudi Arabian Military Industries (SAMI), signed on Monday a contract with Airbus Helicopters Arabia, the Kingdom’s subsidiary of Airbus helicopters to support SAMI in building its technical capabilities to provide rotercraft technical support to Saudi Armed forces.

The agreement will play a key role in equipping the staff with vital helicopter airframe maintenance skills and enhance its repair capabilities for landing gears, engines, engine accessories, and blades within the Industrial Partnership Agreement with GAMI, the local MRO players, and the Aircraft Accessories and Components Company (AACC), a SAMI’s subsidiary.

The agreement was signed on the sidelines of the Farnborough International Airshow in the UK which is being held from July 18 - 21 July.

Commenting on the contract, Eng. Walid Abukhaled said: “We are pleased to further strengthen our partnership with Airbus, a major helicopter manufacturer in the industry.”

“This contract will contribute greatly to our ongoing technology and human capital localization efforts through extensive training to accelerate development,” he added.

“We look forward to welcoming Airbus Helicopter’s dedicated staff, who will enable our national talents to gain valuable experience throughout the duration of the agreement.”

Mickael Bertrand, CEO of Airbus Helicopters Arabia, said: “It is with great pride that we embark on this new collaboration with SAMI Aerospace. We are dedicated to empowering one of the region’s most significant industry players through our own personnel’s expertise.”

“This contract also represents an invaluable opportunity to be part of and strengthen our support to the Kingdom’s rapidly developing defense ecosystem.”

SAMI is a wholly owned subsidiary of the Public Investment Fund (PIF) and Saudi Arabia's national champion of defense industries.

Also on Monday, SAMI signed a number of major agreements with a leading Singaporean technology defense and engineering group ST Engineering.

The agreements will support SAMI in producing cutting-edge defense systems toward executing its development and growth strategies in various defense equipment and capabilities, as well as technical support and training.

With these agreements, SAMI and ST Engineering anticipate close collaboration to further fortify the Kingdom’s defense capabilities.

ST Engineering was selected by SAMI as an original equipment manufacturer partner based on its expertise and track record in both the production and supply chain of defense-related equipment.

Aiming to capitalize upon the Singaporean group’s solid brand and reputation globally, the agreements represent SAMI’s continued commitment to partnerships that create a competitive advantage.

Eng. Abukhaled said: “We are proud to undertake these new ventures with ST Engineering, which has consistently stood out as a global leader in the defense sector.”

“With these new initiatives comes a bright opportunity to leverage supply chain capabilities and fortify our local position as the Kingdom drives towards defense sector autonomy in line with the objective of Vision 2030.”

Vincent Chong, Group President & CEO, ST Engineering, said: “We are extremely pleased to partner with SAMI in this collaboration to deliver high performance and robust defense solutions. This is in line with our international defense efforts in establishing strong local partnerships.”

SAMI’s collaboration with ST Engineering first kicked off in 2019 when teams from both organizations worked in unison to develop a joint partnership. The partnership continues to focus on sustainable practices and adding value to defense capabilities within Saudi Arabia.



Saudi Arabia Activates Major Investment Engines With Approval of Special Economic Zone Rules

 King Abdullah Economic City, located in western Saudi Arabia (Asharq Al-Awsat). 
 King Abdullah Economic City, located in western Saudi Arabia (Asharq Al-Awsat). 
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Saudi Arabia Activates Major Investment Engines With Approval of Special Economic Zone Rules

 King Abdullah Economic City, located in western Saudi Arabia (Asharq Al-Awsat). 
 King Abdullah Economic City, located in western Saudi Arabia (Asharq Al-Awsat). 

Saudi Arabia has taken a pivotal step toward strengthening its standing as a global investment destination after the Cabinet approved the regulatory frameworks for four Special Economic Zones (SEZs): Jazan, Ras Al-Khair, King Abdullah Economic City, and the Cloud Computing Special Economic Zone.

The move marks the effective start of the operational and legal phase for the zones, offering investors a clear roadmap on how to benefit from the incentives and competitive advantages the Kingdom is rolling out.

Saudi Minister of Investment Khalid al-Falih said the regulations will come into force in early April 2026, calling the decision a major leap in developing the regulatory ecosystem for SEZs.

He said it underscores Saudi Arabia’s commitment to boosting investment competitiveness regionally and globally, while building an enabling environment that attracts high-quality investments and supports sustainable growth in line with Vision 2030.

The four zones are designed to serve strategic sectors that place the Kingdom at the heart of global supply chains. The Jazan zone is set to become a hub for food processing, mining, and manufacturing, leveraging its port and proximity to African markets.

Ras al-Khair is being developed into a global center for maritime and mining industries, providing an integrated platform for shipbuilding, offshore drilling rigs, and marine support services.

King Abdullah Economic City is positioned as an advanced hub for logistics, high-value manufacturing, and the automotive sector, while the Cloud Computing and Informatics Zone in Riyadh represents a major leap in the data economy, hosting global technology firms offering local data storage and processing services.

The new regulations introduce flexible licensing regimes, attractive tax and customs standards, and streamlined operating procedures, including flexible ownership structures.

Investors will be allowed to use multiple languages for trade names, and investments within the zones will be exempt from certain provisions of the traditional Companies Law, giving global firms greater operational freedom.

On workforce policy, Al-Falih said the regulations include tailored Saudization frameworks aligned with each zone’s economic activities, balancing national talent development with the rapid growth needs of major investors.

The frameworks are part of an integrated governance model that clarifies mandates and aligns government entities, accelerating licensing processes and creating a fast, flexible business environment aligned with Saudi Arabia’s economic ambitions.

 

 

 


Turkish Manufacturing Nears Stabilization as PMI Rises in December

An employee works at an assembly line in the Toyota manufacturing plant in Sakarya October 10, 2013. REUTERS/Osman Orsal
An employee works at an assembly line in the Toyota manufacturing plant in Sakarya October 10, 2013. REUTERS/Osman Orsal
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Turkish Manufacturing Nears Stabilization as PMI Rises in December

An employee works at an assembly line in the Toyota manufacturing plant in Sakarya October 10, 2013. REUTERS/Osman Orsal
An employee works at an assembly line in the Toyota manufacturing plant in Sakarya October 10, 2013. REUTERS/Osman Orsal

Turkish manufacturing activity shrank at a slower pace in December, marking two consecutive months of improvement, signaling a slight moderation in operating conditions at the end of 2025, a business survey showed on Friday.

The Istanbul Chamber of Industry Turkiye Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to a 12-month high of 48.9 from 48.0 in November thanks ‌to softer slowdowns ‌in output, new ‌orders, ⁠employment and purchasing activity.

Readings ‌below 50.0 indicate contractions in overall activity, while figures above that suggest growth, Reuters said.

"With PMI reaching its highest level for a year in December, the manufacturing sector takes some momentum into 2026, giving hope that we will ⁠see growth in the months ahead," said Andrew Harker, ‌Economics Director at S&P ‍Global Market Intelligence.

New ‍orders eased at the slowest pace ‍since March 2024, with some firms noting improvements in customer demand. However, both total new business and new export orders continued to moderate.

Production was scaled back, though at a slower rate than in November. Employment saw ⁠a marginal reduction, while purchasing activity also experienced a softer decline, according to the survey.

Input costs rose sharply, driven by higher raw material prices, leading manufacturers to increase selling prices, the survey said.

"While inflationary pressures rebounded following the recent lows seen in November, rates of increase in input costs and output prices were still comfortably below the highs ‌we have seen at times in recent years," Harker said.


Asia Stocks Make Bright Start to 2026

Stock markets welcomed the New Year with healthy gains. Punit PARANJPE / AFP
Stock markets welcomed the New Year with healthy gains. Punit PARANJPE / AFP
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Asia Stocks Make Bright Start to 2026

Stock markets welcomed the New Year with healthy gains. Punit PARANJPE / AFP
Stock markets welcomed the New Year with healthy gains. Punit PARANJPE / AFP

Asian markets made a bright start to 2026 on Friday but volumes were thin with Tokyo and Shanghai still closed as investors awaited fresh direction from Wall Street.

Stocks had a bumper 2025, with the S&P adding 16.4 percent, the tech-rich Nasdaq 20.4 percent and London's FTSE enjoying its merriest Christmas in 16 years, said AFP.

In Asia, Seoul stocks whooshed 75 percent, while Hong Kong's Hang Seng index bounced 28 percent and Tokyo's Nikkei 225 rocketed more than 26 percent.

"Naturally, the start of the new year comes with the question everyone asks moving from one year to the next: will this continue? The consensus is that, yes, it will," said Kyle Rodda at Australian brokerage Capital.com.

"When it comes to the all important US economy, Wall Street is pricing in growth will accelerate this year while inflation still moderates and interest rates get cut. Meanwhile, analysts predict that corporate fundamentals will improve," Rodda said.

Hong Kong was up 2.2 percent Friday with chip designer Biren Technologies roaring 80 percent higher after its initial public offering.

The Shanghai-based firm's listing raised more than $700 million, suggesting that investor appetite for anything related to artificial intelligence remains insatiable.

Biren "enjoys scarcity value and high market attention", said Kenny Ng, a strategist at China Everbright Securities.

"The industry is in a flourishing stage, with many firms striving for breakthroughs and significant growth potential," Ng said.

Search-engine giant Baidu jumped almost seven percent after saying its AI chip unit Kunlunxin had filed a listing application in Hong Kong.

Taipei, Sydney, Jakarta, Manila and Singapore also advanced while while Seoul's Kospi, which soared 76 percent in 2025 in large part due to AI boom, was up 1.7 percent.

Samsung Electronics added three percent after co-CEO Jun Young Hyun said customers had praised its high-bandwidth memory (HBM) chips, some saying that "Samsung is back", Bloomberg News reported. 

After volatile recent days, following record highs for silver, precious metals started the new year on a bright note with gold up 0.64 percent per ounce and silver 1.5 percent shinier.