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
20

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.



Dollar Eyes Weekly Rise into US-China Trade Talks 

A clerk sorts US hundred-dollar notes at the headquarters of Hana Bank in Seoul, South Korea, 08 May 2025. (EPA/Yonhap)
A clerk sorts US hundred-dollar notes at the headquarters of Hana Bank in Seoul, South Korea, 08 May 2025. (EPA/Yonhap)
TT
20

Dollar Eyes Weekly Rise into US-China Trade Talks 

A clerk sorts US hundred-dollar notes at the headquarters of Hana Bank in Seoul, South Korea, 08 May 2025. (EPA/Yonhap)
A clerk sorts US hundred-dollar notes at the headquarters of Hana Bank in Seoul, South Korea, 08 May 2025. (EPA/Yonhap)

The dollar headed for a weekly gain on most major peers on Friday as a US-UK trade deal raised hopes of progress in looming US-China talks, while bets of imminent Fed rate cuts receded after the central bank indicated it was in no hurry.

Financial markets are heading into the weekend with the focus squarely on trade negotiations between Washington and Beijing due to begin on Saturday in Switzerland.

The euro touched a one-month low of $1.1197 in Asia and was down about 0.6% for the week. The yen has weakened about 0.4% this week and hit a one-month trough of 146.18 per dollar, before steadying around 145.48 on Friday.

Sterling, which had rallied on news reports of an impending US-UK trade deal, gave back gains when the agreement turned out to be pretty limited and struck a three-week low of $1.3220 in early trade on Friday.

The "general terms" agreement modestly expands agricultural access for both countries and lowers prohibitive US duties on British car exports, but leaves in place the 10% baseline.

"The market reaction of buying USD may reflect greater optimism that such tariff deals are doable," said Steve Englander, global head of G10 currency research at Standard Chartered, in a note to clients.

"Trump's dangling of the prospect of a trade detente with China may be adding to optimism that the global disruption from trade wars may not be as severe as markets have feared," he said.

"For the time being, G10 markets would be relieved if US and China bilateral tariffs were rolled back, even if they remain well above January 19 levels."

Bitcoin has surged back above $100,000, reflecting a refreshed appetite for risk-taking in markets' more speculative corners.

Announcing the UK deal, Trump said he expects substantive negotiations between the US and China this weekend and that tariffs on Beijing of 145% would likely come down.

The administration is weighing a plan to slash the tariff on Chinese imports by more than half, the New York Post reported, citing unidentified sources, though the White House dismissed that as speculation.

The Australian dollar headed for its first weekly drop in a month, with a 0.7% fall to $0.6407. The New Zealand dollar was likewise lower, clinging to support at $0.5895, just above its 200-day moving average.

On the central bank front this week moves were as expected with the Bank of England cutting, while Sweden, Norway and the United States left rates on hold.

However, Federal Reserve Chair Jerome Powell's remarks, emphasising the level of uncertainty, were taken as reducing the likelihood the Fed lowers rates any time soon and market pricing for a cut in June has drifted to about 17% from about 55% a week ago.

In contrast with G10 peers, the dollar was lower on several Asian currencies this week after a shock surge in the Taiwan dollar.

After a volatile few days it has settled around 30 to the dollar, more than 6% stronger from where it had finished April. The Singapore dollar is not far from decade highs. The Hong Kong dollar has retreated from the strong side of its band after heavy intervention from the Hong Kong Monetary Authority.

India's rupee opened under renewed pressure on Friday as conflict between India and Pakistan escalates. It dropped sharply on Thursday and, at 85.55 to the dollar, is eyeing its heaviest weekly fall since 2022.