عربي English Türkçe اردو فارسى
Logo
Latest News
Business

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
TT
TT

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.

Most Viewed

 
 
Business

Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
TT
TT

Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.

Business

Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
TT
TT

Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.

Business

Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
TT
TT

Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
The launch of the Namaa Endowment Fund (Asharq Al-Awsat)

Saudi Arabia has launched its first endowment fund dedicated to advancing environmental, water and agricultural sustainability, reinforcing efforts to strengthen the Kingdom’s non-profit sector and long-term development.

Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadhli on Tuesday inaugurated the Namaa Endowment Fund at the ministry’s headquarters, in the presence of senior officials and stakeholders.

The fund is designed to support economic and social development goals, address community needs, increase the non-profit sector’s contribution to GDP, and promote sustainable management of environmental, water and agricultural resources.

Al-Fadhli said the fund represents a new model of institutional endowment work and a practical mechanism to expand developmental impact while ensuring the sustainability of non-profit initiatives.

Developed in partnership with the General Authority for Awqaf, the fund aims to build assets commensurate with its ambitions, enabling higher returns and a wider impact over the long term.

It will pursue carefully structured investments that balance financial performance with developmental outcomes, with the potential to own or benefit from real estate assets that can be used by non-profit organizations.

Encouraging Private-Sector Participation

Al-Fadhli added that the ministry, in cooperation with the General Authority for Awqaf, the Capital Market Authority and AlAhli Capital, will support the fund and encourage contributions from the private sector, business leaders and the wider public.

Contributions will be made through a licensed digital platform under strict financial governance. He called on all segments of society to contribute in support of sustainable development across the environment, water and agriculture sectors.

Namaa will finance endowment initiatives within the ministry’s ecosystem, including the non-profit institutions Reef, Morooj and Saqaya. Its focus areas include water provision and conservation, afforestation, biodiversity protection, vegetation cover, the circular economy, sustainable agriculture and irrigation, and reducing food loss and waste.

Emad Alkharashi, Governor of the General Authority for Awqaf, announced an initial contribution of SAR100 million, describing it as a foundation for a sustainable endowment model.

He said the fund combines the legacy of endowments with modern investment practices to protect natural resources, strengthen food security and ensure lasting developmental impact.

Alkharashi added that the partnership with the ministry maximizes results and positions the fund as a model for directing endowments toward high-impact, long-term priorities through a transparent, well-governed institutional framework.