Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 

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Updated 11 February 2025
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Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 

Ericsson, Mobily MoU to explore intent-driven autonomous network through AI, official says 

RIYADH: Saudi telecommunication firm Mobily and Swedish company Ericsson have signed an agreement to explore an intent-driven autonomous network that enhances speed, scalability, and capacity, an official said. 

Speaking to Arab News on the sidelines of the LEAP tech conference in Riyadh, Patrick Johansson, senior vice president and head of Market Area in Middle East and Africa at Ericsson, said that the memorandum of understanding will also explore the possibilities of bringing artificial intelligence into the telecommunications industry, which could elevate the performance of network providers. 

The agreement comes amid the continued expansion of the Kingdom’s growing telecom and information and communication technology infrastructure sector, reaching a value of $3.5 billion in 2023.

According to analysis firm Research and Markets, the sector is expected to grow at a compound annual growth rate of 7.1 percent through 2029, driven by initiatives under the Kingdom’s Vision 2030. 

“We signed an MoU with Mobily for an intent-driven network, which is very exciting because this is really bringing AI into our industry and how we make network performance even better. And as we go along through the days, we will continue to sign new agreements with direct customers and other partners as well,” Johansson told Arab News. 

He added: “This intent-driven network is very much about using the information that you have in the network to enhance performance even further, and then using AI to make sure that this is an automated functionality within the network. Basically, you can say things that you used to do by hand or by individuals are now done automatically in the system.” 

The MoU also aims to drive operational efficiency enhancements, boost service quality, and elevate user experiences among customers in Saudi Arabia. 

In a separate press statement, Hakan Cervell, vice president and head of Ericsson in the Kingdom, said that an autonomous network can change requirements dynamically without human involvement. 

“As we move toward intelligent society and industry, artificial intelligence will be integrated into almost everything — learning, adapting, and intelligently automating. We are glad to sign the MoU with Mobily to explore the potential of autonomy on their network to achieve unparalleled efficiency in service delivery and operations,” said Cervell. 

Regarding Ericsson’s presence in Saudi Arabia, the official said that the Kingdom is a fantastic market and that the company has been operating in the nation since 1978. 

He also added that the company is working with telecommunications firms like stc, Mobily, and Zain KSA to enhance customer experience.

It is also collaborating with the King Abdullah University of Science and Technology to explore the possibilities of a 6G rollout in the Kingdom in the coming years. 

“We have a very long experience and collaboration within the Kingdom. We have been here through 1G, 2G, 3G, 4G and 5G. And now, we’re looking to the future, getting into 5G standalone, 5G advanced and bringing new services,” said Johansson. 

He added: “This is the place where we have the biggest amount of spectrum available, which means that we can provide superior service together with our customers stc, Mobily, and Zain in the market. Now, we’re embarking into new opportunities as well with 6G, not around the corner, but in a couple of years. We’re working with KAUST to have research on that topic.”

During the interview, Johansson said that the establishment of Ericsson’s regional headquarters in Riyadh is helping the company serve its customers in the broader Middle East and North Africa region. 

The communication technology firm announced in January that the Kingdom will be served under a newly established Customer Unit. 

This move was part of Ericsson’s strategic ambition to simplify its organizational setup, enhance customer responsiveness, and strengthen local market accountability.

Regarding the localization of jobs, Johansson said that 60 percent of the employees in the company are Saudi nationals. 

He added that Ericsson has also been engaged in providing graduate programs for Saudi nationals over the past few years, out of which more than 50 percent of the students enrolled are females. 

Talking about the rollout of 6G, Johansson said that it is an “evolution rather than a revolution” happening in the telecommunications sector. 

“We’ve had a number of revolutions; going from fixed to mobile, but now 6G will build on 5G. So it is creating greater speeds, even lower latency, and maybe, one of the more important from a consumer point of view, it is about energy efficiency that is good for sustainability, but it’s also for battery life,” said Johansson. 

He added: “So it is basically about enhancing everything that we had in 5G and making it better. There are a few use cases that are being discussed. And again, this is why the collaboration between companies and academia is so important.” 

Affirming Ericsson’s commitment toward sustainability, Johansson said that it is crucial to properly eliminate electronic waste.

“It is about providing the latest and greatest of technology, but we need to be kind to Mother Nature as well. With one of our partners in the Kingdom, Mobily, we have already brought back more than 400 metric tonnes of equipment and made sure that it’s disposed of. So, it is creating this overall circular economy and how we work together,” he added. 

According to the Ericsson official, the use of AI is poised to revolutionize the telecommunications sector by enabling faster processing of large amounts of data.

“AI is really bringing further efficiency into our market. We have a lot of data. We used to do tweaking by hand. We added further software functionality. But with AI, we can combine so much more data, making it intent-based. We talked about the Mobily case of how we can actually make this much faster using AI technology,” said Johansson. 


Electric vehicle sales growth eases to 21% in July, research firm says

Electric vehicle sales growth eases to 21% in July, research firm says
Updated 13 August 2025
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Electric vehicle sales growth eases to 21% in July, research firm says

Electric vehicle sales growth eases to 21% in July, research firm says

LONDON: Global electric vehicle sales grew 21 percent year-on-year in July, the slowest rate since January and down from 25 percent in June, as momentum in plug-in hybrid sales in China slackened, market research firm Rho Motion said on Wednesday.

China is the world’s biggest car market and accounts for more than half of global EV sales, which in Rho Motion’s data include battery-electric vehicles and plug-in hybrids.

Its overall car sales growth slowed in July, with BYD , the world’s largest EV maker, recording its third monthly drop in registrations.

The relatively muted slowdown in overall EV sales, however, shows other markets are taking up some of the slack, with European sales, for one, benefiting from incentives aimed at speeding up decarbonization.

Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in July, Rho Motion data showed.

China’s EV sales growth, which averaged 36 percent a month in the first half, eased to 12 percent in July as the previously booming market was dampened by a pause in some 2025 government subsidy schemes for EV and plug-in hybrid purchases, Rho Motion data manager Charles Lester said.

Chinese sales reached around one million vehicles. European sales surged 48 percent to about 390,000 units, while North American sales climbed 10 percent to more than 170,000. Sales in the rest of the world jumped 55 percent to more than 140,000 vehicles.

“Despite regional variations, the overall trajectory for EV adoption in 2025 remains strongly upward,” Lester said.

Chinese car sales are expected to return to strong growth from August as new funds become available for its subsidy schemes, while a cut in US tax credits for buying or leasing new EVs at the end of September will hurt demand there, Lester added.


Saudi EXIM Bank’s H1 credit facilities surge 44% to $6.29bn

Saudi EXIM Bank’s H1 credit facilities surge 44% to $6.29bn
Updated 13 August 2025
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Saudi EXIM Bank’s H1 credit facilities surge 44% to $6.29bn

Saudi EXIM Bank’s H1 credit facilities surge 44% to $6.29bn
  • Export financing disbursements rose 26.2% to SR8.87 billion
  • Gowth supports bank’s mandate to help double Kingdom’s industrial exports

RIYADH: Saudi Arabia’s Export-Import Bank boosted credit facilities by 44 percent in the first half of the year, reaching SR23.61 billion ($6.29 billion), as the state lender stepped up efforts to accelerate non-oil export growth. 

Export financing disbursements rose 26.2 percent to SR8.87 billion in the six months to June, while credit insurance coverage surged 58.8 percent to SR14.74 billion, the Saudi Press Agency reported. 

The growth supports the bank’s mandate to help double the Kingdom’s industrial exports from SR254 billion in 2022 to SR557 billion by 2030, and SR892 billion by 2035, in line with the National Industrial Strategy. 

“The leap achieved by the bank in the credit facilities provided during this year reflects the extent of the tireless efforts and strategic plans that seek to achieve all economic development goals,” said Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM Bank. 

He added that the bank’s progress since its inception underscores its role in building a diversified and sustainable national economy. 

The lender launched the “Bridges Initiative” to align with the Kingdom’s industrial transformation to speed up access to industrial inputs and enhance export competitiveness. The program is expected to expand opportunities for Saudi non-oil exports and introduce more flexible financing solutions. 

“Among the achievements made during this period is the bank’s obtaining its first credit rating from Fitch International with an A+ rating, which reflects the bank’s creditworthiness and commitment to the highest standards of efficiency and transparency,” said Al-Khalb.

Fitch Ratings assigns an A+ rating to entities with an exceptionally strong capacity to meet financial commitments and a low expectation of default risk. The agency cited the bank’s strategic importance as a government-owned entity and its central role in export financing, guarantees, and insurance. 

Saudi EXIM Bank, affiliated with the National Development Fund, is working to diversify the Kingdom’s economic base by enhancing the efficiency of the national non-oil export system, bridging financing gaps, and reducing export risks. 

On the sidelines of the African Development Bank Group’s annual meetings in Cote d’Ivoire in May, the bank signed four agreements to strengthen trade and investment ties across the continent. 

The deals were signed by Al-Khalb with Africa50, the Ghana Export-Import Bank, Blend International Ltd., and Guinea’s Ministry of Planning and International Cooperation, according to SPA. 


Education spending drives Saudi POS transactions to $3bn as other sectors slump

Education spending drives Saudi POS transactions to $3bn as other sectors slump
Updated 13 August 2025
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Education spending drives Saudi POS transactions to $3bn as other sectors slump

Education spending drives Saudi POS transactions to $3bn as other sectors slump
  • Pharmacies and medical supplies saw largest decrease
  • Total POS value stood at SR13.6 billion despite a 12.3% weekly drop

RIYADH: Saudi Arabia’s point-of-sale transactions remained above the $3 billion mark for the second week in a row due to a 32.5 percent increase in spending on education in the week ending Aug. 9.

The sector recorded SR251.79 million ($67.09 million) in transactions despite a 3.2 percent dip, reaching 161,000. It was the only one to see a positive change during the monitored period.

The total POS value stood at SR13.6 billion with a 12.3 percent weekly drop, underscoring the resilience of consumer activity across the Kingdom, according to data from the Saudi Central Bank, also known as SAMA. 

The subcategory of pharmacies and medical supplies saw the largest decrease, dropping by 24.7 percent to SR278.94 million. Spending on freight transport and courier services ranked next, falling 23.8 percent to SR48.68 million. 

Food and beverages, the sector with the biggest share of total POS value, recorded a 17.8 percent decrease to SR1.93 billion. In comparison, the restaurants and cafes sector saw a 7.9 percent decrease, totaling SR1.75 billion and claiming the second-largest share of this week’s POS.

Spending on transportation ranked third despite a 14.5 percent decline to SR1.04 billion.

The top three categories accounted for approximately 34.4 percent of the week’s total spending, amounting to SR4.71 billion.

The smallest decline was seen in the hotels sector, which decreased by 1 percent to SR349.97 million, followed by expenditure on medical services, which saw a 6.6 percent dip to SR474 million.

Spending on apparel, clothing, and accessories saw a 10.7 percent dip to SR998.90 million, and recreation and culture decreased by 13.4 percent to settle at SR345.58 million.

Geographically, Riyadh dominated POS transactions, with expenses in the capital reaching SR4.58 billion, a 9.8 percent decrease from the previous week. 

Jeddah followed closely with a 9.7 percent dip to SR1.91 billion, while Dammam ranked third, declining 9.2 percent to SR634.68 million.

Al-Qatif saw the smallest decrease, down 3 percent to SR92.35 million, followed by Abha with a 5.5 percent drop to SR285.04 million.

Hail recorded 3.99 million deals in transaction volume, down 12.6 percent from the previous week, while Tabuk reached 4.49 million transactions, falling 10.5 percent.


Oil Updates — prices steady as market awaits inventory data, US-Russia meeting

Oil Updates — prices steady as market awaits inventory data, US-Russia meeting
Updated 13 August 2025
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Oil Updates — prices steady as market awaits inventory data, US-Russia meeting

Oil Updates — prices steady as market awaits inventory data, US-Russia meeting

SINGAPORE: Oil prices were little changed on Wednesday as investors awaited US inventory data, while eyeing an upcoming meeting between US President Donald Trump and Russian President Vladimir Putin.

Brent crude futures dipped 3 cents, or 0.05 percent, to $66.09 a barrel at 9:11 a.m. Saudi time, while US West Texas Intermediate crude futures edged down 8 cents, or 0.13 percent, at $63.09. Both contracts settled lower on Tuesday.

Trump and Putin are due to meet in Alaska on Friday to discuss ending Russia’s war in Ukraine that has shaken oil markets since February 2022.

Oil investors are in a “wait-and-see mode” ahead of the meeting, said ING commodity strategists.

“The outcome could remove some of the sanction risk hanging over the market,” the ING strategists added.

Investors also awaited further cues after an industry report showed US crude stockpiles climbed last week.

Crude inventories in the United States, the world’s biggest oil consumer, rose by 1.52 million barrels last week, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories dropped while distillate inventories gained slightly.

Should the US Energy Information Administration data later on Wednesday also show a decline, it could indicate that consumption during the summer driving season has peaked and refiners are easing back their runs. The driving season typically runs from the Memorial Day holiday at the end of May to the Labor Day holiday in early September.

Analysts polled by Reuters expect the EIA report to show crude inventories fell by about 300,000 barrels last week. Outlooks issued by OPEC and the EIA on Tuesday pointed to increased production this year, which also weighed on prices. But both expect output in the US, the world’s largest producer, to decline in 2026, while other regions will increase oil and natural gas production.

US crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt output to fall in 2026, the EIA forecast in a monthly report.

The Organization of the Petroleum Exporting Countries’ monthly report said global oil demand will rise by 1.38 million bpd in 2026, up 100,000 bpd from the previous forecast. Its 2025 projection was left unchanged.

The White House on Tuesday tempered the expectations for a quick Russia-Ukraine ceasefire deal, which may lead investors to reconsider an end to the war soon and any easing of sanctions on Russian supply, which had been supporting prices.

“Trump downplayed expectations of his meeting with President Putin ... However, expectations of additional sanctions on Russian crude continue to fall,” ANZ senior commodity strategist Daniel Hynes wrote in a note. 


Closing Bell: Saudi main index closes in red at 10,770

Closing Bell: Saudi main index closes in red at 10,770
Updated 12 August 2025
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Closing Bell: Saudi main index closes in red at 10,770

Closing Bell: Saudi main index closes in red at 10,770
  • Parallel market Nomu lost 91.69 points to close at 26,144.11
  • MSCI Tadawul Index edged down 0.26% to 1,391.13

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, shedding 21.98 points, or 0.20 percent, to close at 10,769.66. 

The total trading turnover on the main index reached SR4.08 billion ($1.09 billion), with 94 stocks advancing and 159 declining. 

The Kingdom’s parallel market Nomu also fell, losing 91.69 points to close at 26,144.11, while the MSCI Tadawul Index edged down 0.26 percent to 1,391.13. 

The best-performing stock on the main market was Red Sea International Co., whose share price jumped 9.96 percent to SR45.72. BAAN Holding Group Co. rose 4.98 percent to SR2.32, while Astra Industrial Group gained 4.71 percent to SR149. 

The share price of Methanol Chemicals Co. dropped by 9.92 percent to SR10.62. 

On the announcements front, Saudi Electricity Co. reported a net profit attributable to common shares of SR1.86 billion after deducting profit attributable to Mudaraba instruments for the second quarter, up 113 percent from SR0.87 billion a year earlier. 

The company’s net profit before Mudaraba payments stood at SR6.25 billion, compared to SR5.24 billion in the same quarter of 2024, reflecting a 19.26 percent increase. 

The utility’s share price slipped 0.61 percent to SR14.61. 

First Milling Co. announced it had completed the acquisition of a 100 percent stake in Jeddah-based Al Manar Feed Co. in a deal valued at SR77 million. In a Tadawul filing, the company said the acquisition aligns with its strategy to boost feed production capacity. 

With the purchase, First Milling Co. will add a daily production capacity of 450 tonnes in the feed segment, bringing its total feed output to 1,350 tonnes per day. 

The company’s share price rose 0.28 percent to SR53.20.