Agreement Reached to Develop Sustainable Food Supply Using Sunlight in W. Saudi Arabia

The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)
The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)
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Agreement Reached to Develop Sustainable Food Supply Using Sunlight in W. Saudi Arabia

The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)
The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)

The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, has partnered with Red Sea Farms, a Saudi Arabian AgTech business, to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater.

Red Sea Farms will build and operate the indoor farm, growing crops to sustainably feed guests and residents at The Red Sea Project. It will become the main supplier to the luxury destination’s resorts and restaurants.

CEO of TRSDC John Pagano said: “At TRSDC we believe in embracing innovations to solve the challenges we face as we attempt to improve our relationship with the environment. Red Sea Farms’ technology is novel, exciting and has the possibility of helping to tackle food scarcity globally.”

“This partnership means we’re meeting our own sustainable and regenerative ambitions,” he added.

The innovative technology uses sunlight and saltwater to cool greenhouses and grow crops, instead of relying on rainfall, fresh groundwater, or desalinated water.

This saves up to 300 liters of freshwater per kilogram of produce – a 95 percent saving compared with other AgTech systems.

The technology has been designed and developed in Saudi Arabia for use in often challenging environmental conditions.

This means a reduced impact on the environment and a significant cost saving for growers. It also results in more nutritious crops, while also providing a richer taste, flavor, and texture.

By 2023, The Red Sea Project will welcome 300,000 guests annually and upwards of 14,000 employees, and once fully operational in 2030, up to one million guests per year and home to around 35,000 employees.

Feeding this many people in a remote, largely desert environment presents huge logistical challenges.

TRSDC has set aside a 50 square hectare food development area and is inviting leading companies from around the world to set up production facilities, as well as pilots of cutting-edge food technologies that can someday be used on a commercial scale.

The Red Sea Farms indoor farm will produce a diverse range of fresh leafy greens, herbs, vine crops, fruit including berries, and vegetables. Following the pilot, Red Sea Farms will have the option of expanding the farm to up to 100 hectares in the future, which would make it the largest sustainable farm of its kind in the world.

TRSDC also partnered with Blue Planet Ecosystems in a regional first to deliver sustainably produced seafood.

The first phase of the project will be implemented as a 3,500m2 pilot, to assess whether conditions at The Red Sea Project are suitable for the solution to work effectively and efficiently.

This will be the first Land-based Automated Recirculating Aquaculture (LARA) system pilot in the Middle East to undergo a commercial trial.



ECB President Lagarde Reportedly Plans to Quit Before Macron's Term Ends

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo
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ECB President Lagarde Reportedly Plans to Quit Before Macron's Term Ends

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo

European Central Bank President Christine Lagarde plans to leave her job before next year's French presidential election to allow Emmanuel Macron to have an input into picking her successor, the Financial Times reported on Wednesday.

Lagarde's term is due to end in October 2027 but some fear that the far right may win the French presidential race ‌in the spring of ‌2027, complicating the selection for the ‌new ⁠leader of Europe's most ⁠important financial institution.

Citing a person familiar with the matter, the FT said Lagarde has not yet decided on the exact timing of her departure but was keen on Macron and German Chancellor Friedrich Merz to be the key deciders in who succeeds her. Macron cannot run again for a third term.

"President Lagarde is ⁠totally focused on her mission and has not ‌taken any decision regarding the end ‌of her term," Reuters quoted an ECB spokesperson as saying.

The FT report comes only ‌a week after Bank of France Governor Francois Villeroy de Galhau ‌said he would step down in June this year, more than a year before the end of his term, allowing Macron to name his replacement before the presidential election that the far-right could win.

While it ‌will be up to all leaders from the 21-nation euro zone to pick Lagarde's successor, ⁠past practice ⁠suggests that any successful candidate must have both German and French support to clinch the role.

There are no formal candidates for the job yet but several names have been floating among ECB circles as potential ECB presidents. The most prominent among these are former Dutch central bank chief Klaas Knot and Bank for International Settlements General Manager Pablo Hernandez de Cos.

Lagarde's non-renewable term at the ECB runs until October 31, 2027. Prior to heading the ECB, she was managing director of the International Monetary Fund from 2011 to 2019 and before that, the French finance minister.


UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
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UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)

Britain's annual ‌rate of consumer price inflation fell to 3.0% in January from 3.4% in December, official figures showed on Wednesday.

A Reuters poll of economists had shown a median forecast of 3.0% in January and the Bank of England projected earlier this month that the headline measure of inflation would slow to ‌2.9%.

British inflation ‌has run higher than in ‌the ⁠United States and in ⁠the euro zone where it stood at 2.4% and 1.7% respectively in January.

But the BoE expects the pace of price rises to slow sharply to almost its 2% target in ⁠April as last year's rises ‌in utility costs and ‌other government-controlled tariffs fall out of ‌the annual comparison.

Investors expect the central bank ‌to cut its benchmark interest rate to 3.5% at its next meeting in March after a tight vote to keep borrowing costs ‌on hold in February although some policymakers remain worried about underlying ⁠inflation ⁠pressure.

Financial markets on Tuesday also priced a second quarter-point interest rate cut by the BoE by the end of in 2026.

ONS data last week painted a downbeat picture of Britain's economy at the end of 2025 with output barely growing. Figures released on Tuesday showed the labor market was still losing jobs although there were some signs of a stabilization.


Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
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Riyadh to Host Middle East’s Largest General Aviation Airshow in November 

The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)
The AERO Middle East x Sand & Fun 2026 will be held in Riyadh from November 24 to 28. (SPA)

The Saudi Aviation Club announced that it will organize the AERO Middle East x Sand & Fun 2026 in Riyadh from November 24 to 28, reported the Saudi Press Agency on Tuesday.

The event is set to be the largest of its kind for general aviation in the Middle East, combining international business, investment, and innovation with live flying displays and interactive public experiences. It is being held in partnership with Messe Frankfurt Saudi Arabia.

Held at Thumamah Airport, the exhibition will bring together leading global companies operating in the general aviation industry, including aircraft and components manufacturers, avionics and navigation systems providers, as well as maintenance, repair, and overhaul (MRO) companies, offering an integrated platform that covers the full value chain of the sector.

The event will also spotlight startups in advanced air mobility (AAM) and innovators of electric vertical take-off and landing (eVTOL) aircraft, showcasing technologies and business models shaping the future of aviation.

General Supervisor of the Saudi Aviation Club Dr. Ahmed Alfahaid stated that AERO Middle East x Sand & Fun 2026 represents a qualitative leap for the Kingdom’s aviation sector and reinforces its positioning as a global hub for general aviation and advanced air mobility.

The partnership with Messe Frankfurt Saudi Arabia goes beyond presenting global innovations to providing a vital platform for international investment and strategic collaboration, he stressed.

Moreover, the event contributes to achieving Saudi Vision 2030 objectives, including the Kingdom’s ambition to rank among the world’s top 10 general aviation markets, he added.