News

Lenovo Will Issue $2 Billion In Bonds For Planned Saudi Expansion

The company has struck a deal with PIF-owned Alat to build a new headquarters and manufacturing plant in the Kingdom.

Published

1 year ago

May 29, 2024

Nour Nasir

Lenovo

Lenovo, the world’s largest PC manufacturer, will release $2 billion in convertible bonds to Saudi Arabia’s sovereign wealth fund as part of a substantial investment agreement planned to drive the Kingdom’s technological advancement.

The agreement, signed with Public Investment Fund-owned Alat, includes a new regional (Middle East and Africa) headquarters in Riyadh, an R&D center, plus a PC and server factory.

The deal will allow Lenovo to unlock “significant resources and financial flexibility to further accelerate our transformation and grow our business by capitalizing on the incredible growth momentum in the MEA region,” according to Chairman and CEO Yuanqing Yang.

The Lenovo investment takes advantage of Saudi Arabia’s Regional Headquarters Program, which offers business-friendly incentives, including a 30-year tax break and access to loan programs, employment support, export credit, land solutions, and further financial incentives.

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Alat, a Public Investment Company organization launched in February, is chaired by Crown Prince Mohammed bin Salman and aims to promote the Kingdom as a global power in sustainable technology, covering sectors such as semiconductors, robotics, mining, smart appliances, health, the built environment, and next-gen infrastructure.

Alat aims to create 39,000 jobs in Saudi Arabia and contribute $9.3 billion to the economy by 2030. Lenovo’s expansion into the Kingdom is expected to contribute significantly to these ambitions, as it controls around 25% of the global PC market.

The Lenovo-Alat deal comes as Saudi Arabia plans to boost foreign investment to $100 billion per year as part of its Vision 2030 agenda. The government hopes to have nearly 500 global companies headquartered in the country by 2030 as it attempts to pivot from a reliance on oil production.

News

Yango Enhances Yasmina AI For Improved Conversations

The tech company has upgraded its AI assistant to deliver enhanced creativity, deeper conversations, and advanced bilingual translation.

Published

3 days ago

June 12, 2025

Nour Nasir

Yango

Global technology company Yango Group has announced a significant upgrade to the large language model (LLM) powering its AI assistant, Yasmina. This enhancement allows Yasmina to deliver more accurate, nuanced, and context-aware responses in Arabic and English, improving interactions and user experience across the Middle East region.

The upgrade is part of a phased rollout of YangoAI, the company’s suite of advanced AI technologies specifically adapted to regional needs. As a result, Yasmina now offers 38% more accurate and timely responses in Arabic, made possible by an enhanced ability to analyze web documents. Additionally, unnecessary answer refusals have been reduced by almost 50%, ensuring smoother and more engaging conversational experiences.

One of the most notable new capabilities of Yasmina is its expanded bilingual translation skill. The improved assistant empowers bilingual users, educators, language learners, and content creators to seamlessly translate conversations between Arabic and English, facilitating better communication and understanding.

Beyond translation, Yasmina can now provide highly contextual recommendations for everyday activities and lifestyle choices. Users seeking personalized suggestions — for instance, how to spend a day in Dubai exploring both modern and traditional attractions — will experience enhanced clarity and precision from the assistant.

The assistant’s upgraded functionality also aids users with tasks such as real-time currency conversion, homework support that encourages independent thinking, creative brainstorming, poetry and storytelling, and even providing riddles suitable for children.

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“With more precise and culturally aware responses, along with additional skills, Yasmina’s latest upgrade positions it as a trusted everyday companion,” said Rami Abu Arja, Senior Innovation Marketing Manager at Yasmina, Yango Middle East. “From creative storytelling to translation, we are enriching lives with human-centered AI and making innovation more accessible to all. As the region embraces digital transformation, we continue to enhance our AI assistant, aiming to make it even more helpful, versatile, and relevant”.

YangoAI’s continuous training on region-specific data ensures that Yasmina and other Yango services authentically reflect local culture and user expectations across the Middle East.