Advanced Electronics Company Signs Deal with L3 Harris Technologies on Rotorcraft Simulators

 Saudi Arabian Military Industries’ Advanced Electronics Company signed a cooperation agreement with L3 Harris Technologies on Wednesday, September 11, 2019 in London (Asharq Al-Awsat)
 Saudi Arabian Military Industries’ Advanced Electronics Company signed a cooperation agreement with L3 Harris Technologies on Wednesday, September 11, 2019 in London (Asharq Al-Awsat)
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Advanced Electronics Company Signs Deal with L3 Harris Technologies on Rotorcraft Simulators

 Saudi Arabian Military Industries’ Advanced Electronics Company signed a cooperation agreement with L3 Harris Technologies on Wednesday, September 11, 2019 in London (Asharq Al-Awsat)
 Saudi Arabian Military Industries’ Advanced Electronics Company signed a cooperation agreement with L3 Harris Technologies on Wednesday, September 11, 2019 in London (Asharq Al-Awsat)

Advanced Electronics Company (AEC), a Saudi Arabian Military Industries (SAMI) firm, has signed a teaming agreement with L3Harris Technologies to collaborate on different rotorcraft simulators within Saudi Arabia.

The agreement was signed during their participation in the Defense and Security Equipment International (DSEI) 2019 exhibition, which kicked off on Wednesday at ExCeL London.

Chairman of SAMI Ahmed al-Khateeb, President and CEO of AEC Abdulaziz al-Duailej, CEO of SAMI Dr. Andreas Schwer and President of L3Harris Military Training Lenny Genna attended the signing ceremony.

“The agreement will allow AEC to benefit from the expertise of major industry leaders to achieve Saudi Arabia’s ambitious goals, including localizing 50 percent of its military and security spending and creating new employment opportunities in the country through transferring technology and technical knowledge to the Saudi market,” said Duailej.

He stressed SAMI, AEC and L3 Harris Technologies’ commitment to work on exploring new means of cooperation and developing the military industries sector in order to achieve self-sufficiency in defense and military industries.

Genna, for his part, said this cooperation will contribute to enhancing aviation’s safety and operational performance and raising operational efficiency.

Under SAMI’s umbrella, AEC is showcasing a variety of products, including military electronics, command and control, communications, electronic warfare, and avionics.

AEC’s flagship cybersecurity solutions such as Security Operations Center (SOC), Security Information and Anti-Drone System (UAV) and Event Management (SIEM) as well as advanced military fleet management technologies including MADAR and Air Observation System (AOS) will be on display at its booth at the world-leading defense and security event.

In addition, the company will also highlight its Maintenance, Repair, and Operations (MRO) and Typhoon avionics repair capabilities during the four-day exhibition.

Founded in 1988, AEC is a contributor to modern electronics, technology and manufacturing.

It has played a leading role for almost three decades across four key business sectors, which are defense, aerospace, telecommunications and information technology and energy and security.



Cluster2 Company Launches Direct Flights from Muscat to Saudi Arabia's Taif

 Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA
Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA
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Cluster2 Company Launches Direct Flights from Muscat to Saudi Arabia's Taif

 Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA
Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA

The Cluster2 Company, operator of Taif International Airport, announced the launch of three direct flights per week between Muscat and Taif via Oman Air, starting January 31, SPA reported.

The launch of international flights through the cluster’s airports comes as part of its ongoing commitment to improving the passenger experience and expanding international travel options, while continuing to build strategic partnerships with global airlines to enhance air connectivity in the Kingdom.


Oil Prices Rise as US Ramps up Action against Venezuela Tankers

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer
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Oil Prices Rise as US Ramps up Action against Venezuela Tankers

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer

Oil prices rose on Monday after the US intercepted ​an oil tanker in international waters off the coast of Venezuela and tensions in Russia's war against Ukraine remained high, with both developments raising fears of supply disruption.

Brent crude futures gained $1.31, or 2.17%, to $61.78 a barrel by 1316 GMT. US West Texas Intermediate crude rose by $1.25, or 2.2%, to $57.77.

Market participants now see a risk of disruption to Venezuelan oil exports because of the US ‌embargo, having previously ‌been complacent in that regard, said ‌UBS ⁠analyst Giovanni ​Staunovo.

Venezuelan crude ‌accounts for about 1% of global supply.

Growing supply from the US and the OPEC+ producer group have largely offset worries over supply disruption elsewhere to keep Brent futures around $65 a barrel in the second half of 2025, though prices have eased in the past month because of oversupply concerns.

Oil prices have been supported by developments off Venezuela while ⁠Russia-Ukraine tensions simmer in the background in an otherwise very bearish market, said June ‌Goh, analyst at Sparta Commodities.

The US Coast ‍Guard is pursuing an oil ‍tanker in international waters near Venezuela in what would be the ‍second such operation over the weekend and the third in less than two weeks if successful, officials told Reuters on Sunday.

A rebound in oil prices has been sparked by US President Donald Trump's announcement of a "total ​and complete" blockade of sanctioned Venezuelan oil tankers and subsequent developments there, followed by reports of a Ukrainian drone strike ⁠on a Russian shadow fleet vessel in the Mediterranean, said IG analyst Tony Sycamore.

The Brent and WTI benchmarks fell by about 1% last week.

US special envoy Steve Witkoff said on Sunday that talks between US, European and Ukrainian officials in Florida over the past three days in an effort to end Russia's war in Ukraine had focused on aligning positions. Those meetings and separate talks with Russian negotiators had been productive, he said.

However, the top foreign policy aide of Russian President Vladimir Putin said that changes made by the Europeans ‌and Ukraine to US proposals had not improved prospects for peace.


GASTAT: Construction Costs in Saudi Arabia Rose 1% in November

The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA
The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA
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GASTAT: Construction Costs in Saudi Arabia Rose 1% in November

The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA
The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA

The Construction Cost Index in Saudi Arabia rose 1% in November 2025 compared with the same month last year, driven by equal 1% increases in both residential and non-residential construction costs, according to data released by the Kingdom’s General Authority for Statistics (GASTAT).

The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025.

The Construction Cost Index bulletin is part of GASTAT’s ongoing efforts to develop statistical products for vital sectors and provide a reliable and effective reference with accurate estimates to support decision-making by contractors, real estate developers, and relevant entities.

These efforts contribute to drawing a clear roadmap for residential and non-residential construction projects in the building and construction sector.