QNB Group, the largest financial institution in the Middle East and Africa, has inaugurated its branch in Riyadh. Senior bank officials and distinguished representatives from the banking and business sectors attended an inauguration ceremony held in the presence of Ahmed bin Abdul Karim Al-Khulaifi, governor of the Saudi Arabian Monetary Authority (SAMA), Sheikh Abdullah bin Saud Al-Thani, governor of Qatar Central Bank, Ali Ahmed Al-Kuwari, QNB Group CEO, and a number of Qatari diplomats.
Through its branch and its business hub extending along King Fahd road, QNB Group will provide a comprehensive suite of banking products and services to individuals, businesses and government departments. This complements its extensive expertise in wealth and investment portfolio management, project finance, smart banking solutions, and assorted innovative banking products and services that meet the requirements of the Saudi market.
QNB Group CEO Al-Kuwari hailed the inauguration of the new branch, pointing out the group’s access into the Saudi market is part of the group’s strategic plan to be present in all markets that have a strong and resilient economy. “Saudi Arabia is one of these economies, especially considering its ranking among the world’s 20 strongest economies,” he said.
“Through our presence in Riyadh, we strive to become a major partner in promoting Saudi Arabia’s economic development by providing banking solutions to individuals, businesses, and government departments in both Saudi Arabia and Qatar. This is in line with the group’s successful expansion of its global reach in Asia, Europe, and the Middle East and North Africa region.
QNB Group’s successful expansion is the result of well-researched risk management policy, as well as the forward-looking strategies that aim at diversifying our activities in Qatar and abroad,” Al-Kuwari added.
Al-Kuwari also praised the Saudi government for its support of the banking industry, as evidenced by the implementation of streamlined procedures for the establishment of foreign banks, and for facilitating the authorization process to open a branch for the bank in the Kingdom.
QNB Group has successfully maintained the highest brand value in the Middle East and North Africa, thus strengthening its position in the region.
QNB Group inaugurates its Riyadh branch
QNB Group inaugurates its Riyadh branch
OSP hosts region’s first ever JEC Composites Talks in Saudi Arabia
Saudi Arabia hosted the JEC Composites Talks Middle East on June 24 in Alkhobar, marking the region’s first event fully dedicated to composite materials. Organized by JEC and hosted by the OSP, the event promotes polymer‑based applications, fosters industrial diversification through non‑metallic materials, and accelerates the transfer of innovative technologies while forging partnerships between local and international stakeholders.
Against the backdrop of Saudi Vision 2030 and significant investments in the region in advanced materials, fiber‑reinforced composites are emerging as key enablers across sectors such as mobility, construction, energy, oil and gas, and infrastructure.
The JEC Composites Talks Middle East gathered industry leaders, policymakers, researchers, and entrepreneurs to explore market trends, localization strategies, technological innovation, sustainability, and the composites value chain, capped by a curated networking reception. On June 25, participants visited SPARK, Mateen Bar, and Novel facilities to experience firsthand regional capabilities.
Mohammad Al-Tayyar, program director of OSP, said: “Our partnership with JEC marks a new era for the composites industry in Saudi Arabia paving the way for significant advancements in environmentally efficient solutions and industrial partnerships, ensuring that the Kingdom remains at the forefront of the composites market.”
Thomas Lepretre, vice president sales, events and operations at JEC Group, said: “Middle East and Saudi Arabia represent a strong market potential for composites materials. We are very pleased to be partnering with OSP and being able to serve the composites industry by organizing events in the Kingdom.”
Building on this momentum, the first JEC Forum Middle East — a business meetings‑focused event— will be held in Riyadh on June 23–24, 2026, uniting the region’s composites value chain.
Huawei MatePad Pro 12.2: a tablet to replace office PC?
Bad tools hurt worker productivity more than we usually realize. For the last several decades, laptops have been the default workplace device. But as work becomes increasingly mobile and multitasking-driven, traditional tools are proving inadequate to keep up with the pace and flexibility modern roles demand. According to studies, switching to more portable office devices can deliver noticeable gains. A 2023 IDC study found that 85 percent of companies reported measurable productivity gains after adopting mobile devices like tablets in the workplace.
Tablets, once seen as consumption-focused devices, are stepping in to fill that role. They have evolved into productivity devices, resembling laptops more and more. They now combine the performance of PCs with the agility of mobile devices, creating a powerful, flexible way to get more done from anywhere.
In the past, the biggest drawback of tablets was the software. Doing real work on a tablet meant wrestling with mobile apps scaled up for a bigger screen but without key features one would need. That is no longer the case. Productivity-focused tablets are coming out with PC-level software and full desktop-grade office suites that support advanced functions and shortcuts. Huawei is making great headway in turning tablets into something that can replace office PCs. Huawei’s approach is to provide a hardware and software experience on the same level as laptops while pushing the limits of portability, even beyond what we have come to expect of tablets.
The latest Huawei MatePad Pro 12.2-inch is a case in point. It comes with a keyboard cover and even supports the addition of an external mouse. And it is not the typical tablet keyboard covers with flimsy support, bad viewing angles, crammed keys and an unresponsive touchpad. The Glide Keyboard has large full-sized keys with 1.5 mm key travel and a large trackpad, as in most laptops. Users can also throw in an external mouse if they wish. The support for the M-Pencil adds another dimension of flexibility to the mix and the keyboard cover features a 2-in-1 stylus and keyboard storage and charging design, a first on a tablet.
The story is remarkable on the software side as well. The tablet’s PC-level WPS Office and Live-Multitask feature makes office work surprisingly easy. WPS Office on the tablet mirrors the PC version, including the interface and editing and presentation features. Users can draft documents, manage large spreadsheets, or review design mockups without compromise. The Live-Multitask feature lets you juggle multiple apps seamlessly and resize app windows or switch between them with just a tap.
Portability being yet another major factor that aids productivity, Huawei has worked hard to trim the weight and size of the new tablet with some meticulous design choices. The keyboard is crafted with aerospace-grade materials, and at just 420 grams and 5.15 mm thick, it is the lightest keyboard of its kind.
Perhaps one area where tablets can trump laptops is how they can replace multiple devices and stationery professionals otherwise have to carry around. A tablet can be a replacement for not just laptops but it is also useful for note taking, sketching, and even documentation using the camera. Not having to switch between tools to perform tasks can dramatically streamline productivity.
The MatePad Pro 12.2-inch is available now for pre-order in Saudi Arabia at a starting price SR2,499 ($666), after applying the cashback, with valuable gifts through Huawei’s online store and other authorized retailers.
Consumers ‘adjust’ shopping habits amid rising inflation
A new survey has revealed global concern (85 percent of respondents) about inflation’s impact on grocery prices, illustrating consumer unease and clear changes in purchasing decisions across the world. Blue Yonder, a world leader in end-to-end digital supply chain transformation, announced the results of its 2025 Global Consumer Sentiment on Grocery Inflation Survey, spotlighting how sustained inflation, supply chain challenges and global tariffs are influencing grocery spending and broader consumer behavior across generations and regions. The survey polled consumers across Australia and New Zealand, France, Germany, the Middle East, the UK, and the US.
“The findings of this survey underscore just how widespread and deeply felt the impact of inflation is on consumers’ everyday lives,” said Ben Wynkoop, senior director, global industry strategist, grocery and convenience, Blue Yonder. “From buying fewer grocery items and cutting back on certain purchases to shopping at discount retailers and reprioritizing spending across other categories, consumers are navigating prolonged uncertainty — and retailers must adapt accordingly.”
Nearly half (49 percent) of all respondents believe newly introduced global tariffs are the leading factor behind inflated grocery prices, followed by increased costs for raw materials (42 percent), increased labor costs in manufacturing and food processing (39 percent), and increased profit margins for brands and manufacturers (33 percent).
The perceived top factor driving inflated grocery prices differs across regions. Consumers in the US (65 percent), the UK (56 percent) and the Middle East (50 percent) feel global tariffs are the leading cause of rising prices. Consumers in ANZ (50 percent) feel that increased profit margins for brands and manufacturers is the top factor for inflated prices, while consumers in France (48 percent) and Germany (47 percent) believe the increased cost of raw materials is the leading cause of grocery inflation.
There is a generational divide, too. Baby Boomers uniquely believe that increased labor costs in manufacturing and food processing are the leading cause for grocery inflation (52 percent), whereas all other generational groups believe global tariffs are the top cause of inflated prices.
Inflation’s grip on grocery bills is triggering global concern from consumers. Almost two-thirds of consumers (65 percent) report they would buy fewer grocery items across categories to cope with price increases, while 42 percent would shop at discount and wholesale stores. In addition, approximately one-third would prefer shopping based on promotions and discounts (36 percent) and switching to private label brands (34 percent).
Globally, consumers in ANZ are the most likely to reduce spending on clothing and footwear (67 percent), followed closely by the US (62 percent), the UK (61 percent), France (49 percent), Germany (49 percent), and the Middle East (47 percent).
“With most consumers willing to adjust shopping habits in response to grocery inflation and mounting financial pressures, retailers — not just grocers — need to recognize the importance of building trust with shoppers through transparency, targeted promotions and affordability-first strategies,” Wynkoop added. “Having the right supply chain solutions can help retailers win with consumers during times of both economic prosperity and difficulty.”
LuLu Retail wins ‘Best IPO in the Middle East’ award
LuLu Retail Holdings, the region’s leading full-line retailer, has been honored with the prestigious “Best IPO in the Middle East” award by EMEA Finance magazine. The recognition was presented at the annual EMEA Finance Achievement Awards 2024, held in London on June 22.
The accolade celebrates LuLu Retail’s landmark initial public offering, which successfully raised $1.7 billion in Q4 2024, and marked the company’s official listing on the Abu Dhabi Securities Exchange. The IPO drew widespread investor interest and was one of the most anticipated public listings in the region, reinforcing strong market confidence in the group’s growth trajectory, financial resilience, and retail leadership.
The EMEA Finance Achievement Awards are regarded as a benchmark of excellence in capital markets across Europe, the Middle East, and Africa. Winners are selected by the editorial board from a pool of nominations submitted by investment banks, corporates, and market participants. The awards spotlight the most impactful and innovative financial transactions spanning IPOs, debt issuance, Islamic finance, structured deals, and mergers and acquisitions.
Saifee Rupawala, CEO of LuLu Retail Holdings, said: “We are truly honored to receive this award, which reflects the strength of our business, the commitment of our team, and the trust placed in us by our investors. The IPO marked a transformative chapter for LuLu Retail, and we remain committed to delivering long-term value and sustainable growth.”
RSGT to invest SR1.6bn to develop four Red Sea ports
Red Sea Gateway Terminal, Saudi Arabia’s leading container terminal operator and a subsidiary of the Sustainable Infrastructure Holding Company, has announced a strategic expansion into multi-purpose terminal operations, through newly awarded concessions at four existing strategic port facilities along the Red Sea. This significant milestone, in line with Saudi Arabia’s Vision 2030, enhances the Kingdom’s position as a global logistics hub and improves connectivity across international trade routes.
Under the newly signed 20-year concession agreements with the Saudi Ports Authority, known as Mawani, RSGT will assume operational responsibility for the following terminals:
- Jeddah Islamic Port — General cargo and ro-ro terminals (to be consolidated into a single multi-purpose terminal)
- King Fahd Industrial Port, Yanbu — Container operations will complement the existing dry and liquid bulk operations
- Yanbu Commercial Port – Dry bulk and general cargo operations
- Port of Jazan — General cargo and dry bulk operations
Together, these ports contribute an additional 13 km of quay length and 3.3 million square meters of terminal space to RSGT’s portfolio. Operations will be under the purview of RSGT’s new multi-purpose terminals business unit, which will manage all non-containerized cargo segments, including ro-ro, general cargo, project cargo, dry and liquid bulk, and livestock.
This strategic move has been made possible through the continued collaboration between RSGT and Mawani, whose commitment to public-private partnerships continues to play a pivotal role in transforming the Kingdom’s port sector and enabling world-class logistics services.
RSGT expects to invest a minimum of SR1.6 billion ($418 million) over the 20-year concession period, with SR700 million allocated for expenditure within the first five years of the concession period. These investments will focus on upgrading infrastructure, deploying advanced equipment, and introducing smart technologies to elevate all four terminals to world-class standards.
The projected average annual throughput includes: 3 million tons of general cargo, 13 million tons of bulk cargo, 13.5 million tons of liquid bulk, 710,000 ro-ro units (vehicles), and 8 million head of livestock.
RSGT will also pursue container terminal development in Yanbu, further positioning it as a strategic regional logistics hub.
“Our expansion into multi-purpose terminals marks a milestone in the evolution of our strategic vision,” said RSGT CEO Jens Floe. “The additions to our portfolio and operations reflect our ongoing commitment to facilitating global trade, advancing economic diversification, and reinforcing Saudi Arabia’s increasingly important role in global supply chains. This investment also lays the foundation for the next phase of our growth strategy, as we expand our international footprint across all cargo segments.”
This expansion into non-containerized cargo handling at four new locations marks a significant step in RSGT’s continued growth and diversification. By broadening its service portfolio beyond container operations, RSGT is strengthening its position as a leading logistics player in the region and expanding its role across global logistics chain.
RSGT, the largest container terminal in Saudi Arabia and the Red Sea region, handled 3.1 million 20-foot equivalent units in 2024, a year negatively impacted by the ongoing Red Sea crises, with an annual capacity of 6.2 million TEUs at its flagship facility located at Jeddah Islamic Port.
In early 2024, RSGT’s associate company, Red Sea Gateway International, became Saudi Arabia’s first international terminal operator by launching operations at Chittagong Port in Bangladesh. The addition of four new multi-purpose terminals to RSGT’s portfolio further solidifies the Jeddah- based company’s position as a diversified and globally active leader in logistics.
