Tech Gulf militaries rush to keep up with drone tech progress A new form of drone warfare used during the Ukraine conflict has changed the nature of battle and created a challenge for military planners in the Gulf region, industry experts said at a defence show in Riyadh this week. Drone swarms have been launched by both sides since Russia invaded Ukraine in 2022. The unmanned […] February 8, 2024
Trade Saudi Arabia buys South Korean missile system Saudi Arabia has signed a $3.2 billion deal to buy a mid-range surface-to-air missile defence system from South Korean company LIG Nex1, South Korea’s Ministry of National Defence said this week. The agreement was made in November but finalised via a memorandum of understanding signed on February 6 by Saudi defence minister Khalid bin Salman […] February 7, 2024
Manufacturing Saudi Arabia shows off local arms industry gains Saudi Arabia showed off locally manufactured military equipment at a major defence show in Riyadh this week as it tries to offset its massive foreign arms spending through its own arms production. Government officials at the World Defense Show said the country has managed to increase domestic military spending to 14 percent of the total […] February 7, 2024
Trade Saudi Arabia signs defence deal with South Korea Saudi Arabia has signed an agreement on defence cooperation with South Korea under which Seoul could sell weapons to Riyadh. It could also help Saudi Arabia to develop its own armaments industry. The memorandum of understanding was signed on February 4 by Saudi Arabian minister of defence Prince Khalid bin Salman bin Abdulaziz and South […] February 5, 2024
Analysis Trade Saudi-US trade banks sign deal despite kingdom’s China links The export-import banks of Saudi Arabia and the US have signed a new agreement that seeks to build on bilateral trade of SAR130 billion ($34.7 billion) between the two countries in 2022. Saudi Exim Bank said the deal with US Exim will focus on facilitating more trade financing, supporting exports, and promoting investment opportunities in […] February 2, 2024
Industry UAE defence ministry signs $264m deals Tawazun Council, the UAE defence and security acquisitions authority, has signed five deals with local and international companies, amounting to AED971 million ($264.4 million). During the initial day of the Umex Simtex 2024 conference, the total value of agreements with three local companies reached AED 899 million. Among these, Resource Industries secured a contract for […] January 24, 2024
Manufacturing Probe after accident in Saudi explosives factory An investigation is under way after two men died in an accident at a Saudi Arabian explosives factory. Saudi Chemical Company Holding said the accident at the Riyadh factory of its subsidiary Saudi Chemical Company, which makes civil and military explosives led to the death of two workers. In two separate filings to the Saudi […] January 8, 2024
Trade Germany open to further Eurofighter sales to Saudi Arabia Germany is willing to allow further deliveries of Eurofighter jets to Saudi Arabia, its foreign minister Annalena Baerbock has said. “We do not see the German government opposing British considerations for more Eurofighters for Saudi Arabia,” Reuters reported, citing the minister’s comments on a trip to Israel. Last month, Saudi Arabia approved its 2024 budget, […] January 8, 2024
Tech UAE’s drone sector flies high but challenges persist As the drones sector in the UAE continues to grow, Microavia, a Dubai-based drone company, is using its drones to explore for critical minerals in Central Asia and Kazakhstan. These drones, equipped with AI and computer vision technology, conduct geophysical surveys at low altitudes, providing cost-effective geological information compared with ground-based exploration. The story is […] January 4, 2024
Construction Zamil wins $153m deal to build Saudi defence complex A Dammam construction company has won a SAR575 million ($153 million) contract to build a defence manufacturing complex in Al Kharj, central Saudi Arabia. Zamil Steel Construction Company agreed the deal with Saudi Arabian Military Industries (Sami), a Public Investment Fund company set up to lead the development of the kingdom’s defence industry. The Al […] December 11, 2023
Tech UAE’s Edge buys 52% stake in Swiss UAV maker UAE state-owned defence company Edge Group has acquired a 52 percent majority shareholding in Anavia, a Swiss unmanned aerial vehicle (UAV) developer. The company manufactures unmanned helicopters for surveillance and reconnaissance missions, as well as inspection, mapping and cargo. Edge aims to use the unmanned helicopters to strengthen its air, land, and maritime capabilities, the UAE state-run […] November 7, 2023
Finance Saudi grant programme to develop local defence sector Two Saudi government entities have launched a four-year programme of grants worth 664 million riyals ($177 million) to support the development of a local defence sector, part of plans to diversify its arms industry sources by 2030. The General Authority for Defense Development and Public Investment Fund-owned Saudi Arabian Military Industries (Sami) launched the initiative […] October 11, 2023
Finance UAE’s Edge buys 50% of Brazil’s smart weapons firm UAE state-owned defence company Edge Group has acquired a 50 percent stake in Brazilian smart weapons and high-tech systems specialist Siatt. The acquisition, which follows a pact signed in April this year, is part of a co-development agreement between Edge and the Brazilian Navy for advanced long-range anti-ship missile technology, the UAE state-owned Wam news […] October 1, 2023
Tourism Israeli minister makes historic visit to Saudi Arabia Israeli tourism minister Haim Katz made the first ever public visit by a member of the Israeli government to Saudi Arabia this week, attending a World Tourism Day event in Riyadh. The Israeli ministry of tourism said Katz was leading a delegation on a two-day stay in the Saudi capital as part of the United […] September 27, 2023
Development Saudi Arabia to begin preparing Vision 2040 Saudi Arabia is to begin working on the next phase of its economic diversification plan known as Vision 2030 and hopes to unveil its Vision 2040 as early as 2027, Crown Prince Mohammed bin Salman said in an interview this week. “Today we’re trying to close a few things, we’re aiming to close in the […] September 22, 2023
Trade UAE and Brazil boost non-oil trade with partnership The UAE and Brazil have launched a partnership to exchange economic expertise and build on non-oil bilateral trade of $4.3 billion in 2022. The initiative is part the UAE’s Government Experience Exchange Programme that welcomed a Brazilian delegation to the Emirates earlier this week. Abdullah bin Touq Al Marri, the UAE’s minister of economy, said […] September 6, 2023
Economy Saudi defence spending to rise further despite Iran detente Saudi Arabia is set to maintain one of the highest defence expenditures relative to the GDP in the world, according to a leading data analysis firm, despite the current trend towards de-escalation with Iran. Defence spending will grow 4.5 percent a year to $86.4 billion in 2028, from $65.3 billion in 2022 and a defence […] September 4, 2023
Transport DP World signs partnership with Turkish port operator Global port operator DP World has signed a partnership deal to strengthen its position in Turkey. The equity agreement between DP World Yarimca Port and Turkey’s Evyap Group will secure supply chain services in the critical Marmara gateway market. The transaction remains subject to regulatory approvals. Once complete, DP World will own 58 percent of […] August 29, 2023
Energy Israeli startup hopes to take nuclear fusion mainstream This week US scientists announced they had achieved net energy gain in a fusion reaction for the second time since December. The Lawrence Livermore National Laboratory in California deemed the successful experiment “a major scientific breakthrough decades in the making that will pave the way for advancements in national defence and the future of clean […] August 11, 2023
Finance Turkey’s exports to Saudi surge 627% as ties improve Turkey’s exports to Saudi Arabia surged by 627 percent in the first seven months of 2023 as bilateral relations improved. Exports to the kingdom hit $1.25 billion between January and July this year compared to $172 million last year, the Daily Sabah newspaper reported, citing data from the Turkish Exporters Assembly. Turkey’s President Recep Tayyip […] August 10, 2023
Tech Saudi in pact with Turkey to localise drone production Saudi Arabia has signed an agreement with Turkish defence firm Baykar Tech to localise the manufacturing of drones in the kingdom. “The agreement aims to enhance the readiness of the armed forces and bolster the kingdom’s defence and manufacturing capabilities in line with Vision 2030,” state-owned Saudi Arabian Military Industries (Sami) posted on messaging platform […] August 7, 2023
Analysis Agriculture Saudi and Brazil sow seeds to partner on food security Saudi Arabia is intensifying its trade and investment ties with Latin America in pursuit of food security and green energy, as a ministry-led delegation hunts for opportunities in Brazil, Chile, Costa Rica, Argentina, Panama and Paraguay. A visit to São Paulo earlier this week by Khalid al-Falih, Saudi minister of investment, coincided with a Brazilian […] August 3, 2023
