Saudi industry minister tours Danish technology, pharmaceutical hubs
RIYADH: Saudi Arabia's minister of industry and mineral resources toured key Danish industrial and scientific sites as part of his current trip to Denmark, focused on boosting industrial cooperation and exploring joint investment opportunities.
Minister Bandar Alkhorayef's visit included stops at pharmaceutical giant Novo Nordisk and the Technical University of Denmark (DTU) Science Park.
At Novo Nordisk, a global leader in diabetes care, Alkhorayef examined cutting-edge insulin and biopharmaceutical production technologies.'
Alkhorayef highlighted the strategic partnership between the company and Saudi Arabia's Public Investment Fund (PIF), via Lifera, aimed at localizing the production of GLP-1 drugs and insulin within the Kingdom.
The partnership seeks to meet domestic demand and position Saudi Arabia as a regional hub for pharmaceutical manufacturing and research.
During his visit to the DTU Science Park, Denmark's premier technology and innovation hub, Alkhorayef was briefed on advanced research and development units, key industrial research projects, and innovative solutions driving industrial growth and sustainability.
The Science Park fosters a competitive environment for scientific research, innovation, and modern technology development.
The visits underscore the Kingdom's dedication to bolstering strategic international partnerships, facilitating the exchange of expertise, and enabling technology and knowledge transfer. Such efforts aim to localize promising industries within Saudi Arabia and realize the Saudi Vision 2030's goals to diversify the national economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
18 minutes ago
- Asharq Al-Awsat
Adahi to Asharq Al-Awsat: We Are Employing AI to Achieve Operational Efficiency
General Coordinator of Saudi Arabia's Project for Utilization of Hady and Adahi (Adahi) Saad Abdul Rahman Al-Wabil revealed that the project is aiming to carry out a million sacrifices during this year's Hajj. The figure is a major jump compared to the average in the past ten years, which reached around 900,000 sacrifices per Hajj, he told Asharq Al-Awsat. The new target reflects the ongoing efforts to expand the operational capacity of the project in line with the goals of Vision 2030, he added. He explained that the Adahi project, which is directly overseen by the Royal Commission for Makkah City and Holy Sites, aims to facilitate the Hady, Fidya, Udhiya and Sadaqa rituals on behalf of Muslims through an integrated operational system that follows the Sharia and health standards. The project ensures that the sacrificial meat will reach those who need it inside and outside Saudi Arabia, he stated. The project boasts eight main slaughterhouses spanning a quarter of a million square meters. Seven of them are dedicated to the slaughter of sheep, and one each for the slaughter of camels and cows. Over 30,000 employees work at the slaughterhouses during the Hajj season, including 10,000 butchers and 800 veterinarians, as well as a team of volunteers, said Al-Wabil. 'We are keen on carrying out accurate veterinary tests before and after the slaughter to ensure the highest level of quality in service of the guests of the Two Holy Mosques,' he went on to say. Some 10,000 tons of meat are expected to be distributed in Makkah, and across Saudi Arabia and the Muslim world this year. The process is held in coordination with Saudi embassies in beneficiary countries to ensure that the meat reaches the neediest people, he remarked. This year, the project has adopted artificial intelligence in managing operations, including counting and weighing processes, he told Asharq Al-Awsat. Moreover, smart apps have been introduced, allowing Hajj pilgrims to buy the sacrificial meat online, as well as follow up on every step of the ritual. 'We are following a comprehensive digital plan that boosts transparency and achieves operational efficiency and ensures the comfort of the pilgrims,' he stated. 'This is a qualitative leap in services.'
Mubasher
40 minutes ago
- Mubasher
إعلان شركة نفوذ للمنتجات الغذائية عن نتائج إجتماع الجمعية العامة غير العادية التي تضمنت الموافقة على زيادة رأس مال الشركة (الاجتماع الأول)
Element List Explanation Introduction Nofoth Food Products Company is pleased to announce the results of the Extraordinary General Assembly Meeting (First Meeting), which included the approval of the company's capital increase. The meeting was held at 8:00 PM on Sunday, 05/12/1446H (corresponding to 01/06/2025G), via modern technology means. City and Location of the Extraordinary General Assembly's Meeting In Riyadh City, at the company's headquarters, via modern technology means (through the use of the Tadawulaty system only) Date of the Extraordinary General Assembly's Meeting 2025-06-01 Corresponding to 1446-12-05 Time of the General Assembly's Meeting 20:00 Percentage of Attending Shareholders 64.45% Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The following members of the Board of Directors attended the meeting via modern technology means: 1. Rakan Hethal Ali Al-Faizy, Chairman of the Board 2. Ibrahim Abdullah Ibrahim Al-Omaiqan, Vice Chairman of the Board 3. Faisal Abdullah Ibrahim Al-Omaiqan, Board Member 4. Abdulmalik bin Abdullah Al-Othaim, Board Member The following member was absent from the meeting: 1. Fahad Hamad Abdulaziz Al-Dhailij, Board Member Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf 1. Abdulrahman Ibrahim Al-Hadlaq, Chairman of the Audit Committee 2. Faisal Abdullah Ibrahim Al-Omaiqan, Chairman of the Executive Committee Voting Results on the Items of the General Assembly's Meeting Agenda's 1. The company's financial statements for the fiscal year ending on December 31, 2024, were reviewed and discussed. 2. The Board of Directors' report for the fiscal year ending on December 31, 2024, was reviewed and discussed. 3. Approval of the auditor's report for the fiscal year ending on December 31, 2024, after discussion. 4. Approval of appointing Alzoman, Alfahad & Alhajjaj professional services Chartered Accountants as the company's external auditor from among the nominated firms based on the recommendation of the Audit Committee, to examine, review, and audit the financial statements for Q2, Q3, and the annual financials of 2025, and Q1 of 2026, with a total fee of SAR 390,000. 5. Approval of allowing Board Member Mr. Faisal bin Abdullah Al-Omaiqan to engage in activities competing with the company's business. 6. Approval of authorizing the Board of Directors with the powers of the Ordinary General Assembly as stated in paragraph (1) of Article 27 of the Companies Law for a period of one year from the date of this General Assembly's approval or until the end of the term of the authorized Board, whichever comes first, in accordance with the relevant executive regulations for listed joint-stock companies. 7. Approval of discharging the members of the Board of Directors from liability for the fiscal year ending December 31, 2024. 8. Approval of the Board of Directors' recommendation to distribute cash dividends amounting to SAR 11,908,359 (eleven million, nine hundred eight thousand, three hundred fifty-nine Saudi riyals) to shareholders for the fiscal period ending December 31, 2024, at SAR 0.25 per share, representing 25% of the nominal value of the share. Eligibility shall be for shareholders holding shares at the end of the trading day on the date of the General Assembly and registered in the company's shareholders register at the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date. Dividend distribution will commence on 15-06-2025. 9. Approval of disbursing board member remuneration in the amount of SAR 990,000 for the fiscal year ending December 31, 2024. 10. Approval of disbursing Audit Committee member remuneration in the amount of SAR 164,481 for the fiscal year ending December 31, 2024. 11. Approval of business and contracts to be concluded between the company and Abdullah Ibrahim Al-Omaiqan Real Estate Co., in which Board Members Mr. Faisal Abdullah Ibrahim Al-Omaiqan and Mr. Ibrahim Abdullah Ibrahim Al-Omaiqan have an indirect interest. These involve a lease contract for administrative offices and showrooms located in Al-Nuzha district, Riyadh. The contract duration is two calendar years, with an annual rental value of SAR 1,263,708 (exclusive of VAT). The total value of transactions in 2024 was SAR 1,263,708. These contracts were executed in the ordinary course of business and under prevailing commercial terms without preferential conditions. 12. Approval of business and contracts to be concluded between the company and Mosakhan Waraq Enab Food Services Establishment, in which Board Members Mr. Faisal Abdullah Ibrahim Al-Omaiqan and Mr. Ibrahim Abdullah Ibrahim Al-Omaiqan have an indirect interest. The contract is for the sale of food products with a one-year term. The total value of transactions in 2024 amounted to SAR 597,099 (exclusive of VAT). These contracts were executed in the ordinary course of business and under prevailing commercial terms without preferential conditions. 13. Approval of business and contracts executed between the company and Al-Omaiqan Holidays and Travel, in which Board Members Mr. Faisal Abdullah Ibrahim Al-Omaiqan and Mr. Ibrahim Abdullah Ibrahim Al-Omaiqan have an indirect interest. This involves an agreement to provide ticket booking services. The total value of transactions in 2024 amounted to SAR 367,291 (exclusive of VAT). These transactions were conducted in the ordinary course of business and under prevailing commercial terms without preferential conditions. 14. Approval of the amendment to the Audit Committee Charter. 15. Approval of the amendment to the Nomination and Remuneration Committee Charter. 16. Approval of the amendment to the Policy, Standards, and Procedures of Membership in the Board of Directors and its Committees. 17. Approval of the Competitive Activities Standards. 18. Approval of the Policy on Remuneration for Board Members, Committees, and Executive Management. 19. Approval of the Board of Directors' recommendation to increase the company's capital through the issuance of bonus shares as follows: • The capital increase will be through the capitalization of SAR 48 million from retained earnings, by granting one share for every one share held. • Total increase amount: SAR 48,000,000 • Capital before increase: SAR 48,000,000 • Capital after increase: SAR 96,000,000 • Increase percentage: 100% • Number of shares before the increase: 48,000,000 shares • Number of shares after the increase: 96,000,000 shares The capital increase aims to strengthen the company's financial position, support its expansion plans, and enhance shareholder returns by growing its business and seizing opportunities in the food sector. • Number of bonus shares: 1 share for every 1 share held • The increase will be through the capitalization of SAR 48,000,000 from retained earnings. Eligibility date: Shareholders who own shares by the end of the trading day on the date of the Extraordinary General Assembly and are registered with the Securities Depository Center (Edaa) at the end of the second trading day following the eligibility date. Fractional shares: In the event of fractional shares, they will be grouped in one portfolio and sold at market price. The proceeds will be distributed to eligible shareholders based on their respective entitlements within 30 days from the date of determining the entitled shares for each shareholder. • Approval of the amendment to Article (7) of the company's Articles of Association related to capital.
Al Arabiya
an hour ago
- Al Arabiya
CEO of Saudi budget airline flyadeal criticizes Airbus for delivery delays
The head of Saudi budget carrier flyadeal criticized Airbus' handling of delays of narrow-body jets and voiced concerns that disruption could spread to freshly ordered wide-body A330neos. CEO Steven Greenway spoke out about delays on the sidelines of an IATA airline industry summit in New Delhi, just weeks after unveiling an order for 10 A330neo long-haul planes. 'Delays are becoming inexcusable. Transparency, to be frank, is lacking, and we're getting agitated. How else can we plan? I mean it is just going beyond a joke now,' Greenway told Reuters. A non-excusable delay is a term used in aircraft contracts to trigger specific penalties to airlines, but these are rare. Jet-makers have consistently argued that any delays caused by supply chain problems are 'excusable,' industry sources say. Airbus faces some internal industrial problems, he said. Airbus declined to comment on the narrow-body delays. It has previously reported some improvement in supply chains and has said it is working to soften the impact on customers, while sticking to a target for 820 deliveries this year. Flyadeal is also among several carriers affected by a separate slowdown in arrivals of engines from CFM on the Airbus assembly line. 'I have got two (narrow-body jets) sitting on the ground in Toulouse at the moment that have been there for a couple of months and I don't have any resolution in sight,' Greenway said. 'We were meant to have four aircraft in the first half of the year. We've only had two, and even those two were delayed.' The sister airline to Saudia is now due to have one A321neo delivered in the third quarter and three in the fourth quarter. 'But I'm very three in the last quarter are going to get across the line,' he said, adding: 'Don't forget, this is delays on top of delays.' Safran, which co-owns CFM with GE Aerospace, said in April that CFM had seen improvements in supply chains and was poised to recover a slow start to 2025. Greenway's comments reflect mounting private frustration about widespread supply problems among airline CEOs gathering for their annual industry meeting. He acknowledged that aerospace had been hit by a broad exodus of labor from the manufacturing sector after COVID-19, but added: 'I do think it's inexcusable that here we are three, four years later, and we still haven't got over that hump.' A330NEO uncertainty Reuters reported last week that Airbus had warned airlines that a pattern of delays would persist for another three years. Lessors have spoken of supply tensions for the rest of the decade. Greenway raised concerns that similar problems could spread to the wide-body A330neo, after flyadeal unveiled an order for 10 of the upgraded long-haul jets in April. So far there have been no reports of delivery delays to the aircraft. 'Our (first) aircraft was meant to be on the final production line in December of next year. I don't know if we're going to see that or not,' he said. Airbus said it was not aware of any A330neo delays. Airlines say delays disrupt decisions that must be taken well ahead like pilot and crew training and adding routes. 'You can't you take the wide-bodies, I'm now assuming there is going to be a delay. I'm having to go out and work with wet-lease operators to plug that gap,' Greenway said, referring to rentals of planes with crews. Philippine budget airline Cebu Pacific said last week it would wet-lease two crewed A320s to flyadeal during its lean months in July and August, a busy period for the Saudi carrier.
