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Saudi Airlines Catering Co. inks $720m agreement with Red Sea Global

RIYADH: A SR2.7 billion ($720 million) deal has been signed which will see Saudi Airlines Catering Co. provide laundry services for hotels at Red Sea Global’s tourist developments. The agreement was announced on the Saudi stock exchange, Tadawul, and SACC expects the deal to start showing up in its profit margin by the third quarter of 2025. The 20-year contract will see SACC operate laundry services for hotels, resorts and other facilities located within the destination.

“World Bank Offers Repayment Pause to Nations in Crisis”

PARIS: The head of the World Bank said Thursday that the lender planned to introduce a “pause” mechanism for debtor countries in the event of them being hit by a crisis. Ajay Banga told a summit on financing the fight against climate change that the multilateral lender would adopt a new approach that “significantly expands the World Bank’s toolkit.” The most important measure would be offering “a pause on debt repayments so countries can focus on what matters when a crisis hits and stop worrying about the bill that is going come,” he added.

Riyadh Airports CEO Joins International Aviation Group

RIYADH: In significant global recognition of the Kingdom’s aviation sector, Riyadh Airports Co. CEO Musad Aldaood has been elected to the board of the Airports Council International, Asia-Pacific.    This assembly of airport authorities is dedicated to improving airport operations and standards, representing their collective interests with international organizations like International Civil Aviation Organization and International Air Transport Association.   The announcement was made during the 18th meeting of the ACI Asia-Pacific Assembly in Kobe, Japan. 

Red Sea Global teams up with Virtuoso for global luxury travel agency outreach.

RIYADH: The Red Sea will have direct access to the best leisure travel agencies in the world as the multi-project developer, Red Sea Global, partners with global luxury travel group Virtuoso.    RSG’s flagship destination will join Virtuoso’s elite network of world-leading hotels, resorts, cruise lines, tour companies and other travel businesses when it opens its doors in 2023.   

China’s Influence on Philippines: Can it Replace US?

China's top diplomat visits Manila as it carries out joint military drills with Washington.

Japan prepares to intercept North Korean satellite debris

Defence minister also ordered the deployment of destroyers equipped with SM-3 ship-to-air missiles to coastal waters.

SpaceX Starship Launch Fails: Explosion Before Orbit

The Starship is the most powerful rocket ever built and is designed to send astronauts to the Moon, Mars or beyond.

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