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Strong Saudi Participation at Farnborough Airshow

A model of the proposed jet fighter aircraft Tempest, a joint program by a consortium known as "Team Tempest", which includes Britain's Ministry of Defense, BAE Systems, Rolls-Royce, Leonardo SPA, MBDA and Saab, is pictured in the BAE hall during the Farnborough Airshow, in Farnborough, on July 18, 2022. (AFP)
A model of the proposed jet fighter aircraft Tempest, a joint program by a consortium known as "Team Tempest", which includes Britain's Ministry of Defense, BAE Systems, Rolls-Royce, Leonardo SPA, MBDA and Saab, is pictured in the BAE hall during the Farnborough Airshow, in Farnborough, on July 18, 2022. (AFP)
    Farnborough (UK) - Asharq Al-Awsat
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Strong Saudi Participation at Farnborough Airshow

A model of the proposed jet fighter aircraft Tempest, a joint program by a consortium known as "Team Tempest", which includes Britain's Ministry of Defense, BAE Systems, Rolls-Royce, Leonardo SPA, MBDA and Saab, is pictured in the BAE hall during the Farnborough Airshow, in Farnborough, on July 18, 2022. (AFP)
A model of the proposed jet fighter aircraft Tempest, a joint program by a consortium known as "Team Tempest", which includes Britain's Ministry of Defense, BAE Systems, Rolls-Royce, Leonardo SPA, MBDA and Saab, is pictured in the BAE hall during the Farnborough Airshow, in Farnborough, on July 18, 2022. (AFP)

Saudi Arabia is participating in the Farnborough International Airshow, through a pavilion organized by the General Authority for Military Industries, under the slogan, “Invest in Saudi Arabia.”

Leaders of the aviation and defense industry from all over the world are preparing to participate in the exhibition after a three-year interruption due to the Covid-19 pandemic. Seventy of the 100 largest global airlines are expected to join the event, which is being held on July 18-22.

The Kingdom’s pavilion includes the Ministry of Investment, the Saudi Military Industries Company (SAMI) and the World Defense Exhibition (WDS).

The world exhibition will display the most advanced aircraft in the field of commercial and military aviation, and will focus on six main themes, including: aerospace, defense, sustainability, innovation, future aviation, and workforce.

Airbus and Boeing will also showcase their latest twin-aisle passenger aircraft, the A350-900 and the 777X.

Meanwhile, sources said that Etihad Airways in Abu Dhabi confirmed the order for the purchase of seven Airbus A350 cargo planes, although it was not clear whether this deal would be disclosed during the exhibition.

Airbus revealed the order in its latest monthly bulletin, without disclosing the buyer. Airbus declined to comment, while Etihad Airways did not immediately respond to a request for information.

Sources said that German Lufthansa was likely to conclude a deal to buy about 10 large Boeing freighters, including seven of the recently launched cargo version of the 777X.

No comment was issued by any of the parties before the start of the exhibition, which will continue despite warnings of emergency weather and transportation disruptions caused by expectations of temperatures rising to record levels.

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Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
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Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)

Turkish stocks jumped on Monday, bonds climbed and the lira rallied against the euro as news the Kurdistan Workers Party (PKK) militant group was ending its four decade-long insurgency in the country added to US-China trade cheer.

Global share markets were enjoying a strong surge after the US and China agreed to slash tariffs, but Turkish equities outstripped most other bourses as they jumped more than 3%.

A PKK member said it was ceasing all military operations "immediately" following the group's decision to disband, a move that could boost NATO member Türkiye's political and economic stability.

The lira was up 1.3% against the euro and steady against the dollar, while its international market bonds, which have been losing ground for the last six months, were up nearly 0.7 cents.

The PKK decision followed an appeal from its jailed leader Abdullah Ocalan in February to disband. It is set to have far-reaching political and security consequences for the region, including in neighboring Iraq and also in Syria, where Kurdish forces are allied with US forces.

Omer Celik, spokesperson for President Recep Tayyip Erdogan's ruling AK Party, said the PKK's decision to dissolve was "an important step toward a terror-free Türkiye".

There have been intermittent peace efforts over the years, most notably a ceasefire between 2013 and 2015 that ultimately collapsed.

The PKK's move should now give Erdogan the opportunity to boost spending in the mainly Kurdish southeast of Türkiye, where the insurgency has handicapped the regional economy for decades.

Analysts welcomed the PKK move but added a note of caution.

"It can only be good news," said Christopher Granville, managing director of EMEA & Global Political Research at investment advisory firm TS Lombard. "But is it decisive for the difficult Turkish investment case?"

He said the PKK issue was ultimately "secondary" to questions about Türkiye's recent arrest of Erdogan's main political rival, Istanbul Mayor Ekrem Imamoglu, and the broader direction of its macroeconomic policy.

Those concerns have weighed on Turkish markets this year.

MSCI's Türkiye equities index is down more than 13% compared to a near 8% rise in its pan-emerging market index., while lira-denominated government bonds have cost investors more than 8% on a total returns basis.

The cost of insuring Ankara's government debt using Credit Default Swaps (CDS) has also shot up, although Monday's rally saw that ease back.

"A continuation of the pullback (in CDS levels) ... may support banking stocks, which have been the negatively differentiated sector in BIST (Turkish stocks index) in the last 2 months," Garanti BBVA Yatirim's Director Ozgur Yurtdasseven said.

Turkish banking stocks were up 3.8% on the day, but remain more than 16% down on the year in lira terms and more than 20% in dollar terms.