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Riyadh Air orders 90 GEnx engines for Boeing 787 Dreamliner fleet

PARIS: Riyadh Air has finalized a deal for 90 GEnx-1B engines to propel its upcoming fleet, it was announced on Wednesday. The agreement also includes spare engines and a TrueChoice services package. The deal follows the Saudi airline’s recent wide-body order for 39 Boeing 787-9 Dreamliner aircraft. The signing ceremony took place at the Riyadh Air chalet during the Paris Air Show, where the airline introduced its new livery to the world.
Business

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. 
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N’Golo Kante Joins Karim Benzema at Ittihad in Jeddah

RIYADH: French superstar N’Golo Kante has completed his transfer to Saudi side Al-Ittihad, the club announce early on Wednesday, and joins fellow Frenchman Karim Benzema in Jeddah. The team made fun of rumors around the deal being scuttled by medical issues  in a video skit on Twitter, showing the midfielder failing his medical before breaking the good news to fans.
Business

King Abdullah Port and Tabadul Partner to Enhance Logistics Efficiency

RIYADH: Delivery times for goods passing through King Abdullah Port are set to be reduced after the facility signed a strategic partnership with the Saudi Company for Electronic Information Exchange, known as Tabadul, to develop a digital system to boost the Kingdom’s logistics sector. The two entities signed a contract on Tuesday which will see the port’s Smart Gate System merge with Tabadul’s Truck Management System in a move that will increase efficiency.
Business

Saudi Arabia seeks defense deals at Paris expo

RIYADH: Saudi Arabia is seeking to explore partnerships and investment opportunities at the Paris Air Show 2023, which began on Monday in France. The General Authority for Military Industries, along with its partners Saudi Military Industries and the International Defense Exhibition, is taking part in the event to showcase the Kingdom’s progress in the defense industry. Saudi Arabia is keen on localizing the sector in line with its Vision 2030 goals, the Saudi Press Agency reported.
Business

Egypt seeks to join BRICS, confirms Russian ambassador

RIYADH: In a bid to enhance trade and economic cooperation, Egypt has officially applied to join the five-member BRICS bloc of emerging economies, according to Georgy Borizenko, the Russian ambassador to Cairo.  The BRICS group comprises Brazil, Russia, India, China and South Africa. “Egypt has applied to join the BRICS group because one of the initiatives that BRICS is currently engaged in is the maximum transfer of trade to alternative currencies, whether national or the creation of some kind of joint currency. Egypt is very interested in this,” said Borizenko. 
Business

Saudi Industry Minister’s Investment Tour in Germany Continues

RIYADH: German investment in the Saudi mining sector was one of the key topics of discussion when the Kingdom’s industry minister met with a leading Bavarian politician. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held talks with Roland Weigert, vice minister in the Bavarian Ministry of Economic Affairs, Regional Development and Energy, as part of his visit to Germany.
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