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)
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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.



Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil Prices Steady as Markets Weigh Demand against US Inventories

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large US fuel inventories and macroeconomic concerns.

Brent crude futures were down 3 cents at $76.13 a barrel by 1003 GMT. US West Texas Intermediate crude futures dipped 10 cents to $73.22.

Both benchmarks fell more than 1% on Wednesday as a stronger dollar and a bigger than expected rise in US fuel stockpiles pressured prices.

"The oil market is still grappling with opposite forces - seasonal demand to support the bulls and macro data that supports a stronger US dollar in the medium term ... that can put a ceiling to prevent the bulls from advancing further," said OANDA senior market analyst Kelvin Wong.

JPMorgan analysts expect oil demand for January to expand by 1.4 million barrels per day (bpd) year on year to 101.4 million bpd, primarily driven by increased use of heating fuels in the Northern Hemisphere.

"Global oil demand is expected to remain strong throughout January, fuelled by colder than normal winter conditions that are boosting heating fuel consumption, as well as an earlier onset of travel activities in China for the Lunar New Year holidays," the analysts said.

The market structure in Brent futures is also indicating that traders are becoming more concerned about supply tightening at the same time demand is increasing.

The premium of the front-month Brent contract over the six-month contract reached its widest since August on Wednesday. A widening of this backwardation, when futures for prompt delivery are higher than for later delivery, typically indicates that supply is declining or demand is increasing.

Nevertheless, official Energy Information Administration (EIA) data showed rising gasoline and distillates stockpiles in the United States last week.

The dollar strengthened further on Thursday, underpinned by rising Treasury yields ahead of US President-elect Donald Trump's entrance into the White House on Jan. 20.

Looking ahead, WTI crude oil is expected to oscillate within a range of $67.55 to $77.95 into February as the market awaits more clarity on Trump's administration policies and fresh fiscal stimulus measures out of China, OANDA's Wong said.