Latest news with #Saudi-based
Business Insider
5 days ago
- Business
- Business Insider
‘Time to Jump In,' Says Analyst as He Upgrades Rating and PT on AMD Stock
Semiconductor giant Advanced Micro Devices (AMD) is starting to gain traction in the AI race, after earlier concerns about lagging Nvidia (NVDA). The stock is down 19% over the past year but is up more than 7% year-to-date. In a new update, Melius Research analyst Ben Reitzes upgraded the stock to Buy from Hold and raised the 12-month price target to $175.00 from $110.00, suggesting an impressive 35% upside from current levels. He believes the company's position has improved meaningfully in the AI space since the start of the year. Confident Investing Starts Here: Analyst Sees AI Upside Still Not Priced In According to Reitzes, AMD has moved past the early rebound phase and is now 'in the middle' of a broader rally, with further upside expected. While shares have seen big swings—rising to $211 last year before falling below $80 in 2025—he believes that recent progress isn't yet fully reflected in the price. One key reason behind this view is the growing demand for AMD's AI chips. The analyst pointed to strong interest from cloud providers and government-backed firms in AMD's MI300 and MI350 chips—both built for AI tasks. The upcoming MI400 line is also drawing early attention. He believes AI inferencing is turning out to be 'much bigger' than expected. With stronger memory and better software, AMD's chips are becoming more attractive to high-end buyers. The analyst also pointed to AMD's partnerships with Amazon (AMZN), Meta (META), OpenAI, and Saudi-based AI group HUMAIN. It's important to highlight that AMD and HUMAIN are investing up to $10 billion in data center projects across the Middle East. Melius believes this could drive major gains in the region, where AMD's market share may surpass its global share. Other Segments Show Signs of Strength While AI remains the top driver, Reitzes also noted signs of strength in AMD's PC business, due to higher average selling prices and modest share gains from Intel (INTC). These gains could help buffer AMD if Nvidia eventually enters the PC CPU market. Looking ahead, he also expects continued growth in AMD's server chip business. New products like the 'Venice' CPU and the 'Helios' rack-scale platform could help boost its presence in large data centers. Given these tailwinds, the firm has raised its earnings estimates through 2027. It now expects EPS to reach $3.88 this year, rising to $5.77 in 2026 and $7.08 in 2027. The analyst adds that if AMD captures more than 5% of the global AI chip market, the upside could be even higher. Is AMD Stock a Buy or Sell Now? To summarize, Wall Street is cautiously optimistic on Advanced Micro Devices stock, with a Moderate Buy consensus rating based on 22 Buys and 10 Holds. The average AMD stock price target of $132.17 indicates a modest upside potential of 2% from current levels.
Time of India
22-06-2025
- Time of India
Misconduct charge lands Telangana man in Saudi Arabia jail over misbehaviour with schoolchildren; wife appeals for clemency and repatriation
HYDERABAD: A worker from Rajanna Sircilla district has been sentenced to three-and-a-half years in jail in Saudi Arabia for alleged misbehaviour with school-going children. The 50-year-old driver from Mandepally village in Thangalapalli mandal was employed by a local family in Riyadh. He reportedly tried to explain to police that his actions were misinterpreted and had no ill intent, but his kafil (employer) pursued the case, leading to his conviction on Feb 1. He is currently lodged in Tarheel jail in Riyadh. In a letter to CM Revanth Reddy, his wife urged the govt to take up the case with the Indian embassy in Riyadh to help file a mercy petition. She submitted the letter at 'Pravasi Praja Vani' grievance forum at Praja Bhavan on June 20. "While transporting the employer's children to and from school, his affectionate and friendly behaviour was misunderstood. My husband was unaware of local cultural sensitivities, which led to his arrest," she wrote. She has also requested her husband's repatriation after his release. The family is seeking clemency and early repatriation for the Sircilla man. Vice-chairman of NRI advisory committee, Bheem Reddy Mandha, said Pravasi Praja Vani coordinator and IAS officer Divya Devarajan has directed officials to write to the Indian embassy regarding the case. A Saudi-based social worker, Asani Raj Reddy, said although the court ruling cannot be challenged, a mercy petition can be filed through diplomatic channels.
NBC Sports
18-06-2025
- Sport
- NBC Sports
Al Hilal draw Real Madrid at Club World Cup as Bounou saves stoppage-time penalty
The Club World Cup is producing high drama, as Al Hilal pulled off a shock draw with Real Madrid thanks to heroics from a familiar face. Longtime La Liga goalkeeper Yassine Bounou saved a VAR-awarded penalty in stoppage time to keep the score 1-1 and secure a point for his Saudi-based club on Wednesday. Real took a first-half lead through 21-year-old Goncalo Garcia but Ruben Neves converted a penalty for Al Hilal before halftime and neither team could score in the second half at Hard Rock Stadium. The stoppage-time deadlock looked set to be broken when Mohammed Hamad Al Qahtani's careless flailing arm in the 18 caught chasing Fran Garcia in the face. VAR saw the foul, as replays saw Al Qahtani look back for Garcia before swinging his arm toward the player. That's when Bounou, the Quebec-born Moroccan international read Fede Valverde's penalty low and to his right, making the save. Yassine 'Bono' Bounou saves Real Madrid penalty at Club World Cup (video) 90+1' THIS IS INSANE! Penalty to @realmadrid, Valverde from the spot and Bono SAVES IT! We are still level in Miami! 😮 Watch the @FIFACWC | June 14 - July 13 | Every Game | Free | | #FIFACWC #TakeItToTheWorld #RMAHIL
Tourism Breaking News
17-06-2025
- Business
- Tourism Breaking News
flyadeal to train 800 Saudi cabin crew as tourism ambassadors by 2030
Post Views: 18 flyadeal announced a regional first with Saudi cabin crew to be trained as certified tour guides in support of the Kingdom's Vision 2030 to build a dynamic tourism industry. The programme will target 800 crew by 2030 for comprehensive tour guide training in which they will embrace wider learnings of Saudi Arabia's culture and historical attractions. Upon completion, they will receive a licence as tourism ambassadors enabling them to hone their skills as official guides engaging with passengers, and with visitors in a private capacity. Over the next few weeks, the Saudi-based airline will open applications for courses specifically designed for Saudi nationals. A training institute accredited to Saudi Arabia's Ministry of Tourism will conduct the courses. flyadeal is promoting several developments at the show including its upcoming summer season flying programme and new year-round destinations. Steven Greenway, flyadeal Chief Executive Officer, said: 'flyadeal continues to push the boundaries with employee initiatives designed to enhance their personal development and professional skills. This new training programme, the first of its kind in the Middle East, will empower crew and equip them with the skills and confidence to engage with visitors as official tourism ambassadors. 'As licensed tour guides, the beauty of the programme allows our crew to use their new-found skills while interacting with passengers but also harness their experience by taking tourists on guided tours around the wonderful historic sites that the Kingdom is so renowned for.' To kick-off the programme, flyadeal crew were given a guided tour of the fascinating Dirayah district – the birthplace of Saudi Arabia – in the Kingdom's capital, Riyadh. They explored and learned more about the traditional mud-brick architecture and cultural sites being restored to their former glory, but more importantly gained insights into what it takes to become a certified tour guide. Massive investment is underway in the Dirayah project being developed as the nation's foremost historical, cultural and lifestyle destination.
Arabian Post
16-06-2025
- Business
- Arabian Post
Saudi AviLease inks record Airbus deal at Paris Air Show
Arabian Post Staff A pivotal moment unfolded on the opening day of the Paris Air Show as Saudi-based aircraft lessor AviLease confirmed a major five-year supply pact with Airbus. The agreement comprises 10 A350F freighters and 30 A320neo family aircraft, with options enabling expansion to 22 freighters and 55 single‑aisle jets—a potential total of 77 planes. This marks AviLease's inaugural direct procurement from Airbus, signalling a strategic pivot in its procurement framework. Edward O'Byrne, AviLease's CEO, underscored the importance of the Airbus partnership in bolstering the company's credentials as a full‑service global lessor. He emphasised that modern, fuel‑efficient delivery options meet growing airline demand both in Saudi Arabia and internationally. ADVERTISEMENT Airbus Executive VP Benoît de Saint‑Exupéry described the dual order as reaffirming confidence in the A350F's unrivalled cargo capabilities—particularly its 20% fuel reduction and expansive cargo volume—and the A320neo's global popularity as a workhorse single‑aisle jet. Deliveries are slated to begin in 2030 and continue through to 2033, giving AviLease a multi-year runway to deploy next‑generation jets across its expanding network of airline clients. This agreement sits at the core of Saudi Arabia's broader aviation ambitions under Vision 2030. AviLease—established in 2022 and now managing around 200 aircraft leased to more than 50 airlines—has secured roughly US$6 billion in capital to underpin its ascent into the world's top ten leasing companies. AviLease has previously pursued multiple procurement strategies, including sale‑and‑leasebacks, acquisition of portfolios, partnerships, and recent indirect orders with Boeing. The Airbus deal introduces a 'fourth prong' in its acquisition model: speculative direct purchase, O'Byrne confirmed. The A350F, optimised for modern global logistics, features the largest main‑deck cargo door in its class, modular design and advanced composites reducing take‑off weight by 46 tonnes compared with rival derivatives. It will be fully compliant with ICAO's stringent CO₂ emissions standards coming into force in 2027. Meanwhile, the A320neo family continues to lead the single‑aisle market, delivering up to 20% better fuel performance per seat via new engines, sharklets and cabin optimisation— sustaining its position as Airbus's most ordered aircraft series. Saudi Arabia's national aviation strategy aims to eclipse established regional hubs by scaling cargo volumes and strengthening logistics infrastructure. The freighter order aligns with this trajectory, as Riyadh pushes to double cargo throughput and capitalise on cross‑continental trade flows. In parallel, state‑backed startup Riyadh Air is reportedly expected to finalise an order for 25 A350‑1000 aircraft during the event, with options for additional units—continuing the momentum of Saudi engagement with Airbus this week. The Paris Air Show has been tempered by the recent tragedy of an Air India 787 crash, which took more than 240 lives, as well as geopolitical tensions, prompting some exhibitors—like Boeing—to scale back their presence. Despite this subdued climate, Airbus and its partners came forward with strong announcements. Saudi Arabia's AviLease agreement underscores the kingdom's rapid climb in aviation leasing—a sector traditionally led by European and US players. It highlights the country's appetite to blend modern fleet composition with environmental responsibility and to carve a central role in the global aviation ecosystem.
