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74% of Saudi CEOs Confident in Kingdom’s Growth for Next 3 Years: KPMG

RIYADH: A vast majority CEOs in Saudi Arabia are confident about the Kingdom’s economic growth over the next three years despite the prevalent inflationary pressures and geopolitical tensions, revealed a global survey by KPMG.  The global professional services network, in its latest CEO Outlook report, revealed that 74 percent of Saudi chief executives are optimistic about the economic growth of the Kingdom over the next three years, compared to just 60 percent who are confident about global progress. 
Business

Riyadh Air CEO announces direct flights from Saudi capital to major European cities

PARIS: In line with its goal to serve over 100 destinations by 2030, Riyadh Air will connect the Kingdom’s capital to major cities of Europe, its CEO said.   Speaking to Arab News on the sidelines of the Paris Air Show, Tony Douglas said the company intends to reveal something new every two months as the airline gears up for its 2025 launch. While Saudi Arabia is one of the world’s fastest-growing economies and the highest populated country within the Arabian Peninsula, it is not globally well-connected as it needs to be.  
Business

“French Treasury Official Urges Saudi Arabia to Increase Collaboration for 2030 Goals”

RIYADH: Saudi Arabia and France need to intensify joint work and develop new projects as both countries have a lot of scope for synergy and collaboration under their 2030 investment goals, said a top official of the French Treasury.  Speaking at the France-Saudi Investment Forum, Denis Le Fers, head of bilateral trade relations at the French Treasury, explained that partnership has a central role to play in France 2030. 
Business

flynas signs $3.7bn deal with Airbus for 30 planes

RIYADH: Saudi Arabia’s budget airline flynas has signed a $3.73 billion agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday. The deal was signed at the Paris Air Show by Bandar Al-Mohanna, flynas CEO and managing director, and Christian Scherer, Airbus chief commercial officer and head of international, in the presence of Saudi Minister of Transport and Logistics Saleh Al-Jasser, Abdulaziz Al-Duailej, president of General Authority of Civil Aviation, and Ayed Aljeaid, chairman of the board of NAS Holding.
National Security

“Pentagon’s Secret Service Monitors Social Media for Negative Tweets About Generals”

An unredacted document shows the Protective Services Battalion uses sophisticated surveillance tools that can pinpoint anyone’s location.

The post Pentagon’s Secret Service Trawls Social Media for Mean Tweets About Generals appeared first on The Intercept.

Business

Saudi Arabia’s voluntary cuts boost oil prices.

RIYADH: Oil prices rose on Thursday as tighter supply resulting from Saudi Arabia’s pledged production cut and a potential pause to US interest rate hikes offset worries over demand weakness and a global economic slowdown. At a recent meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, Saudi Arabia said it will cut its crude output by 1 million barrels per day in July on top of a broader deal to limit supply into 2024 as the producer group seeks to boost flagging prices.
Business

Saudi Minister: GCC-Iraq Electrical Interconnection Boosts Energy Security

RIYADH: The electrical interconnection project between Saudi Arabia and Iraq will support the Iraqi electrical grid, according to Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman. In an interview with Al-Arabiya, the prince said the connection was a dream that had become a reality and would achieve tangible economic benefits and enhance energy security. Speaking on the sidelines of the OPEC+ meeting in Vienna, he said: “We have no complexes about speculation in the oil market,” and the decision to cut oil production was a “precautionary” one.
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Israel attacks Gaza as truce talks continue in Cairo

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RAFAH, Palestinian Territories: Israel bombarded the overcrowded Gaza city of Rafah, where it has launched a ground incursion, as talks resumed Wednesday in Cairo aimed at agreeing the terms of a truce in the seven-month war. Despite international objections, Israel sent tanks into Rafah on Tuesday and seized the nearby crossing into Egypt that is the main conduit for aid into the besieged Palestinian territory.

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