UAE's Thuraya is After Saudi Satellite Communication Market

The security and defense sectors depend on satellite communications solutions to maintain information security and quality of service (Asharq Al-Awsat)
The security and defense sectors depend on satellite communications solutions to maintain information security and quality of service (Asharq Al-Awsat)
TT

UAE's Thuraya is After Saudi Satellite Communication Market

The security and defense sectors depend on satellite communications solutions to maintain information security and quality of service (Asharq Al-Awsat)
The security and defense sectors depend on satellite communications solutions to maintain information security and quality of service (Asharq Al-Awsat)

Thuraya, UAE's mobile satellite services company, is looking to seize new opportunities and expand its activities in the Saudi market.

Thuraya has been operating in the Saudi market for more than 20 years and provides the Kingdom's military sectors with all services related to mobile satellite communications.

Thuraya's Chief Executive Officer (CEO), Sulaiman Al Ali, told Asharq Al-Awsat that the company wants to boost its partnership with the Saudi government and defense sectors.

The current communications developments seek to provide services that include capabilities, information security, and equipment development, said Al Ali.

He noted the importance of the Kingdom's orientation to localize the military sectors after years of experience during the past years.

The CEO stated that the current generation is familiar with technology and capable of taking the next step, stressing that his company is working with its Saudi partners to localize specific areas to support local industries, especially since investors are interested in the local market.

The company continues to look for new investment opportunities in the Kingdom and other countries, especially in communication services and solutions, according to Al Ali.

He pointed out that the company is engaged in promising discussions with several Saudi institutions to achieve its goals.

Al Ali said that the World Defense Show, recently held in Riyadh, constitutes an important platform that brings regional and international operators together to create significant opportunities for dialogue.

Several new devices that serve the military and defense sectors are being developed, said Al Ali, noting that the company primarily focuses on helping government agencies and international relief organizations.

He indicated that satellite communication devices are widely used, noting that they are also required in the commercial sector that suffers from poor communication networks.

Defense institutions are always looking for reliable partners to obtain comprehensive solutions based on interoperability, said Al Ali, stressing that Thuraya provides safety, security, and flexibility.

It can add a variety of solutions and applications that meet customer needs, including voice and data communications and push-to-talk (PTT), remote monitoring and disaster recovery, and border control.

Thuraya expanded its current commercial activities regionally and globally and provided new services.

It is preparing to launch top solutions, including next-generation satellite internet devices, said Al Ali, adding that it is cooperating with new distributors, such as Cobham, to provide satellite internet services in Libya, the Philippines, and Sudan.

He touched on Thuraya's new PTT radio communications over the Internet, indicating that it will interest the Saudi market as it supports many in need sectors.

Al Ali added that the service would achieve a fundamental transformation in the sector and enable users to extend their voice communications to wherever their equipment or teams are.



Gold Steady as Focus Shifts to US Data for Economic Cues

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
TT

Gold Steady as Focus Shifts to US Data for Economic Cues

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices were little changed on Monday, while investors awaited a slew of US economic data including the December nonfarm payrolls report for further guidance on the Federal Reserve's stance on interest rates.
Spot gold held its ground at $2,635.39 per ounce by 0510 GMT. US gold futures dropped 0.2% to $2,646.80.
How the US jobs data fares this week could hold the key to whether gold breaks out of its recent range, said Tim Waterer, chief market analyst at KCM Trade.
"There is a plethora of US data due for release this week (including ISM Services PMI data), and any downside misses could hurt the USD and help gold."
The US jobs report, due on Friday, is expected to provide more clues to the Fed's rate outlook after the US central bank rattled markets last month by reducing its projected cuts for 2025.
Investors are also awaiting ADP hiring and job openings data, as well as minutes of the Fed's last policy meeting for further direction.
Gold flourishes in a low-interest-rate environment and serves as a hedge against geopolitical uncertainties and inflation.
US President-elect Donald Trump is set to return to office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.
This could prompt the Fed to go slow on rate cuts, limiting gold's upside. After three rate cuts in 2024, the Fed has projected only two reductions for 2025 due to persistent inflation.
The US central bank's benchmark policy rate should stay restrictive until it is more certain that inflation is returning to its 2% target, Richmond Federal Reserve President Thomas Barkin said on Friday.
Spot silver was down 0.2% at $29.57 per ounce, platinum dipped 0.7% to $931.30 and palladium fell 0.4% to $918.22.