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MSD, Sobol Medical Trading to bring vital vaccines to Kingdom

Updated 29 July 2012
Arab News
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MSD, Sobol Medical Trading to bring vital vaccines to Kingdom

Updated 29 July 2012
Arab News

MSD, one of the world's health care leaders, a subsidiary of Merck & Co Inc., Whitehouse Station NJ, and Sobol Medical Trading Co. Ltd. (Sobol), a bio-pharmaceuticals company in the Kingdom have executed a long-term exclusive agreement to distribute GARDASIL (Human Papillomavirus Quadrivalent - Types 6, 11, 16, and 18) Vaccine, Recombinant), ROTATEQ (Rotavirus Vaccine, Live, Oral, Pentavalent), PNEUMOVAX 23 (Pneumococcal Vaccine Polyvalent) and other MSD vaccines in the Kingdom of Saudi Arabia (KSA). As part of this arrangement, Sobol will be responsible for distribution and promotion of these products within the Kingdom upon receiving certain regulatory approvals from the Saudi Food and Drug Authority and Ministry of Commerce and Industry of Saudi Arabia. The agreement also includes, upon the achievement of specific milestones, a technologies transfer from MSD to Sobol for GARDASIL, ROTATEQ and PNEUMOVAX 23 which will grant rights to Sobol to manufacture certain steps of these vaccines locally.
“Sobol is committed to advancing the health and wellbeing of the people of the Kingdom of Saudi Arabia,” said Prince Majid bin Abdullah bin Abdulaziz, chairman, Sobol.
“This collaboration is an exciting opportunity to meet the unmet medical needs of the communities in which we operate and to bring MSD's vaccines to more people who need them,” said Soren Bo Christiansen, president, Eastern Europe, Middle East and Africa (EEMEA), MSD.
Nizar Khogeer, partner and executive president, Sobol, said: “This agreement is timely and consistent with our company's growth strategy and will be a big step forward in positioning Sobol as an international leader in biopharmaceuticals. Our mission is to be an active partner in consolidating all partners in the biotechnology sector in the Kingdom of Saudi Arabia to achieve economical and social development. We are proud to be part of our country's initiative.”

 

Naif Alrajhi Investment, Aljazira Capital launch SR1.7bn fund

Updated 30 May 2025
Arab News
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Naif Alrajhi Investment, Aljazira Capital launch SR1.7bn fund

Updated 30 May 2025
Arab News

Naif Alrajhi Investment has formed a strategic partnership with Aljazira Capital to launch a closed private real estate investment fund. Valued at SR1.7 billion ($453.2 million), the fund will focus on the development of two high-impact real estate projects in Riyadh and Jeddah.

This partnership underscores the shared investment vision of both companies in the Saudi real estate market and their shared ambition to enhance its appeal by developing innovative, high-value projects. The fund will support the execution of two strategic developments in two of the Kingdom’s most prominent and dynamic cities.

In Riyadh, the fund will support the development of a luxury residential project in Al-Khuzama district, designed to offer a fully integrated residential environment. The project will feature a diverse range of private residences, premium services, and architectural designs aligned with Saudi Arabia’s modern vision. Strategically located near key landmarks in the capital, the project offers strong investment value and serves as an ideal choice for those seeking exceptional living in one of Riyadh’s most prestigious neighborhoods.

In Jeddah, the fund will support a mixed-use development in North Jeddah along King Abdulaziz Road. The project will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations. Designed to meet the growing demand for integrated, lifestyle-centric developments, the project combines living, working, and leisure in one strategic location. Its architectural design reflects Saudi Arabia’s vision to preserve and modernize the Kingdom’s identity, contributing to the evolving urban landscape of Jeddah in a contemporary and forward-looking way.

Naif Saleh Alrajhi, chairman and CEO of Naif Alrajhi Investment, said: “We are proud to partner with Aljazira Capital in developing two high-impact projects. Strategic locations were carefully selected, and the real estate offerings were designed based on thorough market research and trends, while ensuring alignment with the urban code and architectural identity of each region.” He added: “This collaboration reflects our ongoing commitment to developing distinctive real estate projects that enhance quality of life.”

Naif Al-Mesned, CEO and managing director of Aljazira Capital, said: “At Aljazira Capital, we remain dedicated to offering high-quality investment opportunities that align with our clients’ aspirations and respond to evolving market demands. The launch of this fund, in partnership with Naif Alrajhi Investment as a specialized real estate developer, reflects our strategy to diversify our investment offerings and reinforce our active presence in the real estate sector.”

Bandar Al-Hogail, head of real estate assets at Aljazira Capital, added: “The launch of this fund marks an important milestone in Aljazira Capital’s strategy to offer a diversified portfolio of high-quality real estate investment products.” He added: “Partnering with experienced industry specialists such as Naif Alrajhi Investment — the developer behind the fund’s projects — is a key factor in ensuring project success and achieving targeted returns.”

Naif Alrajhi Investment is one of the Kingdom’s leading investment groups, managing a diversified portfolio with a strong focus on the real estate sector. With a proven track record of success both locally and internationally, the company brings deep expertise and a strategic vision to developing real estate assets that meet the highest standards.

Aramco Digital, LTIMindtree launch NextEra — a next-generation IT services company in KSA

Updated 29 May 2025
Arab News
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Aramco Digital, LTIMindtree launch NextEra — a next-generation IT services company in KSA

Updated 29 May 2025
Arab News

Aramco Digital, the digital and technology subsidiary of Aramco, and LTIMindtree, a global technology consulting and digital solutions company, have launched NextEra, a next-generation IT services company headquartered in Saudi Arabia.

A strategic joint venture between LTIMindtree and Aramco Digital, LTIM Aramco Digital Solutions for Information Technology Company-NextEra is designed to accelerate Saudi Arabia’s digital transformation in alignment with the Kingdom’s ambitious Vision 2030.

The initiative reflects a shared commitment to building a robust, homegrown digital ecosystem that fuels innovation, economic diversification, and sustainable growth.

Powered by advanced and emerging technologies, NextEra aims to offer organizations future-ready solutions that enhance operational efficiency, enable intelligent decision-making, and deliver seamless customer experiences.

NextEra’s foundation is built upon six core pillars — emerging technologies and automation, scalable cloud services, deep industry expertise, digital engineering, sustainability, and customer centricity.

Nabil Al-Nuaim, chairman of NextEra and CEO of Aramco Digital, said: “The launch of NextEra marks a pivotal milestone in our efforts to localize IT services and contribute to advancing the Kingdom’s digital landscape.

“We are glad to partner with LTIMindtree in establishing this joint venture, which brings together world-class technology expertise and deep local insight.

“Through NextEra, we aim to build a future-ready digital ecosystem that drives innovation, enhances national competitiveness, and contributes to the Kingdom’s digital transformation journey under Vision 2030.

“This collaboration also reinforces Aramco Digital’s commitment to accelerating digital progress across industrial and other strategic sectors,  delivering sustainable impact, long-term value, and alignment with national priorities.

"Partnering with Aramco Digital to establish NextEra is a significant milestone in LTIMindtree’s global expansion strategy. We are excited to bring our deep technical capabilities and cross-industry experience to support Saudi businesses in their digital journeys,” said Venu Lambu, vice chairman, NextEra; chief executive officer (designate) and whole-time director, LTIMindtree.

“This joint venture is a key step toward Saudi Arabia’s Vision 2030, as we build a national platform for innovation and sustainable digital growth,” said Dina Aboonoq, CEO and board member, NextEra; executive VP, LTIMindtree.

“Through advanced delivery centers and partnerships with local universities, we’re accelerating digital transformation, empowering local talent, and supporting SMEs and major industries with tailored managed services that ensure excellence and compliance.”

NextEra is uniquely positioned to blend local insight with global expertise, delivering tailored solutions that cater to the dynamic needs of regional and international markets. From optimizing operations to fostering innovation across critical sectors, the company aims to be a cornerstone of Saudi Arabia’s digitally driven future.

Aramco Digital is the digital and technology subsidiary of Aramco, established to contribute to the Kingdom’s digital transformation under Vision 2030. It aims to advance industrial digital solutions in partnership with local and global partners, enabling sustainable growth across industrial and other strategic sectors.

LTIMindtree is a global technology consulting and digital solutions company that helps enterprises reimagine business models and accelerate innovation. With a client base of over 700 companies and a team of 84,000+ professionals across 30+ countries, LTIMindtree delivers transformative outcomes across industries. A part of the Larsen & Toubro Group, LTIMindtree is at the forefront of delivering large-scale digital transformation programs worldwide.

What Mauritius can learn from Saudi Arabia’s revolutionary transformation

Updated 29 May 2025
Arab News
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What Mauritius can learn from Saudi Arabia’s revolutionary transformation

Updated 29 May 2025
Arab News

Saudi Arabia, once defined by its oil wealth, is undergoing a dramatic and deliberate transformation through Vision 2030, a bold national strategy spearheaded by Crown Prince Mohammed bin Salman. This plan is not cosmetic, it is systemic. It reimagines the Kingdom as a global leader in technology, innovation, and tourism, moving beyond oil dependency to a diversified, future-ready economy.

Inayat Ramjean, a Mauritian with over 35 years of experience in Saudi Arabia, including leadership roles in international hospitality, has witnessed this transformation first-hand. Now back in Mauritius, he urges his homeland to draw inspiration from the Kingdom’s progress.

Reinvigorating tourism with vision and investment — Saudi Arabia’s pivot toward tourism has been nothing short of revolutionary. From streamlined e-visas to mega-projects like NEOM, Red Sea and AlUla, the Kingdom aims to host 150 million tourists annually by 2030. This has transformed the Kingdom into one of the top 10 most visited countries globally. Mauritius, once a premier destination, is now losing momentum. To reverse this trend, the country must reimagine its tourism model, focus on eco-luxury, and leverage its direct flight connections with Saudi Arabia to tap into new markets.

Leveraging technology and innovation — Saudi Arabia has moved from being a technology consumer to a global innovator, with initiatives in artificial intelligence, renewable energy, and smart infrastructure. Flagship projects like NEOM are powered by AI, renewables, and automation, setting global standards in urban planning and sustainability. Mauritius, with its youthful population and strong ICT foundation, should invest more strategically in digital skills, smart city development, and tech entrepreneurship to future-proof its economy.

Ensuring safety and stability — Saudi Arabia is now ranked the safest country among G20 nations, thanks to a renewed emphasis on public order and national security. In contrast, rising crime and social instability in Mauritius threaten both tourism and investment. Addressing these issues is not just about law enforcement, it’s about creating an environment where citizens and investors feel secure.

Strengthening bilateral and regional partnerships — Inayat played a key role in establishing ties between Saudi Arabia and Mauritius, including the opening of a Saudi embassy and flight connectivity. Mauritius must now position itself as a gateway for Saudi investment into Africa. Aligning with Vision 2030 can unlock partnerships in tourism, health, trade, and broader regional cooperation. Mauritius stands at a turning point. The Saudi model proves what is possible when vision, governance, and ambition converge. If Mauritius embraces reform and bold leadership, it too can become a global example of reinvention and resilience. The time for action is now.

  • The writer, Inayat Ramjean, is a hospitality consultant.

flynas launches retail subscription for IPO

Updated 29 May 2025
Arab News
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flynas launches retail subscription for IPO

Updated 29 May 2025
Arab News

flynas Company, one of the leading low-cost carriers in the Middle East and North Africa region, has announced the opening of its retail subscription period for individual investors as part of its initial public offering on the Saudi Exchange.

The final offer price has been set at SR80 ($21) per share, marking the top end of the previously announced price range. This follows an overwhelming response from institutional investors, with the institutional tranche oversubscribed approximately 100 times, attracting SR409 billion in orders from local and international investors.

Retail investors have access to 10,251,114 shares, representing 20 percent of the total offering, while institutional investors have been allocated the remaining 80 percent.

Subscriptions can be made through a wide network of receiving banks and capital market institutions, including: Albilad Capital, Alinma Capital, Alistithmar Capital, Al-Jazira Capital, Alkhabeer Capital, Al-Rajhi Capital, ANB Capital, BSF Capital, Derayah Financial, GIB Capital, Riyad Capital, SAB Invest, Sahm Capital, SNB Capital, and Yaqeen Capital.

The retail subscription window will run from May 28 to June 1. Allocation will be completed by June 3 and refunds by June 5.

Abdul Latif Jameel, Uber sign MoU to transform urban mobility

Updated 28 May 2025
Arab News
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Abdul Latif Jameel, Uber sign MoU to transform urban mobility

Updated 28 May 2025
Arab News

Abdul Latif Jameel and Uber Technologies have signed an MoU to explore opportunities to build a scalable, next-generation fleet operations platform. In line with the goals of Saudi Vision 2030, the collaboration seeks to enable socioeconomic growth in the Kingdom and create more earning opportunities for Saudi nationals.

The MoU was recently signed during the period in which the Saudi-US Investment Forum was held and the signing ceremony was attended by Minister of Transport and Logistic Services Saleh Al-Jasser and Acting President of the Transport General Authority Dr. Rumaih bin Mohammed Al-Rumaih. The MoU will help accelerate the transformation of urban mobility across Saudi Arabia, including through the deployment of autonomous vehicles. Representing both parties, the MoU was signed by Hassan Jameel, vice chairman, Saudi Arabia, Abdul Latif Jameel, and Dara Khosrowshahi, CEO of Uber.

Autonomous vehicles are pivotal to the future of transportation. Uber is building toward an electric, shared, and autonomous future, already working with 18 leading AV partners globally. Saudi Arabia is primed to be a key destination for urban transformation and the integration of AVs in the ecosystem. Abdul Latif Jameel, in collaboration with Uber, will play a pivotal role in accelerating the deployment of AVs, supporting local fleet operations.

Through their collaboration, the businesses will work closely to build a scalable mobility fleet with the aim of creating 30,000 earning opportunities for Saudi nationals.

With mobility playing a pivotal role in Saudi Arabia’s urban transformation, the MoU addresses current and future opportunities, as well as the needs of drivers, riders, and tourists in line with Vision 2030. By combining Abdul Latif Jameel’s strong operational excellence and local expertise with Uber’s global innovative mobility technology and network, the businesses will support economic diversification, elevating giga-projects, and contributing to the Saudi economy.

Vice chairman Jameel said: “Our collaboration with Uber reflects a shared vision for a smarter, more accessible, and autonomous mobility future. We are proud to be working with such a renowned technology leader, as we support Saudi Arabia’s Vision 2030 and position the Kingdom as a role model for the future of mobility. Equally important is how this agreement will help empower Saudi youth through the creation of job opportunities, while contributing to the Kingdom’s long-term prosperity.” Jameel also expressed his gratitude to Minister Al-Jasser for attending the MoU signing ceremony.

Meanwhile, Khosrowshahi said: “Saudi Arabia is a hugely important market to Uber. We’re thrilled to collaborate with Abdul Latif Jameel to advance and accelerate a future of mobility that is electric, shared, and autonomous in the country, while advancing earning opportunities for Saudi nationals. Our goal is to make Uber the best platform for AV technology and continue to introduce both autonomous and human-driven mobility solutions to help people get where they need to go, effortlessly.’’

With Saudi Arabia as the role model, Abdul Latif Jameel and Uber have a long-term ambition to create a cutting-edge standard for the future of mobility and a scalable playbook that can be deployed internationally.

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