Boeing Aims to Help Build Advanced Saudi Military Industrial Base

F-15EX fighter jets. (Asharq Al-Awsat)
F-15EX fighter jets. (Asharq Al-Awsat)
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Boeing Aims to Help Build Advanced Saudi Military Industrial Base

F-15EX fighter jets. (Asharq Al-Awsat)
F-15EX fighter jets. (Asharq Al-Awsat)

Boeing has positioned its F-15EX fighter jet as a cornerstone of its strategy to support Saudi Arabia’s growing defense sector and ambitions for self-reliance as the Kingdom moves to localize over half of its military spending under Vision 2030.

The US aerospace giant said the F-15EX offers not only a cutting-edge combat platform but also an opportunity to build a fully integrated local industrial base, including manufacturing, maintenance services, knowledge transfer and training of Saudi talent.

The F-15EX is one of the most advanced fighter aircraft in the world, said Rob Novotny, the Executive Director of F-15 Business Development at Boeing's Air Dominance Division, in exclusive statements to Asharq Al-Awsat.

The company is looking to work closely with Saudi partners, particularly the Saudi Arabian Military Industries company (SAMI) to localize production and technical support within the Kingdom, revealed Novotny.

Speaking on the sidelines of a visit by US President Donald Trump to Riyadh, Novotny said the F-15EX offers a significant leap from earlier variants of the aircraft. It is equipped with an advanced AESA radar, a next-generation electronic warfare suite and digital flight controls that enhance maneuverability and operational efficiency.

Designed to meet the demands of next-generation warfare, the F-15EX is compatible with both manned and unmanned systems and can carry up to five times the ground-attack munitions and six times the air-to-air missiles compared to previous versions, he said.

The F-15EX delivers a combination of high performance, extended range and up to 50% lower operating costs compared to other fighters, making it a strategic and economic choice for air forces looking to modernize their fleets, Novotny explained.

He moved on to highlight that the F-15EX shares around 95% compatibility with the current F-15 models used by Saudi forces, allowing for a seamless integration that reduces the need for major new training programs or support infrastructure.

Boeing sees this as a key advantage for the Kingdom as it modernizes its air capabilities without disrupting existing operations.

Beyond aircraft delivery, the company is positioning itself as a long-term partner in Saudi Arabia’s military transformation. It is working to establish sustainable local capabilities through technology transfer, simulation-based educational programs, and advanced technical training for Saudi personnel.

These efforts are supported through collaboration with the state-owned SAMI, with projects already under way to localize production, maintenance, and upgrades of the F-15EX within the Kingdom.

Boeing also plans to double production of the F-15EX by 2026 to meet rising global demand, with Saudi Arabia expected to be among the first to benefit from the expanded capacity.

The company views Saudi Vision 2030 as a strategic framework for long-term cooperation. Boeing aims to expand its industrial presence through enduring partnerships focused on technology transfer, job creation, and the localization of defense capabilities, positioning the F-15EX as a flagship example of advanced military integration between the two sides, Novotny added.



SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services
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SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services

The Saudi Central Bank (SAMA) announced the licensing of “Altknwlwjya aljadydh llhulul albrmjyh” and “lyn tknwlwjyz Company Saudi Arabia litqniyat nuzum almaelumat” to conduct payment services by providing account information—one of the services associated with open banking.

The licenses were granted following the successful completion of the regulatory sandbox phase under SAMA’s supervision.

The decision reflects SAMA’s ongoing efforts to support and enable the financial sector, enhance the efficiency and flexibility of financial transactions, and promote innovation in financial services. This aims to advancing financial inclusion and expanding access to financial services across all segments of society.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.


UK Suffers OECD's Biggest Growth Downgrade as Iran War Pushes Up Energy Costs

This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
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UK Suffers OECD's Biggest Growth Downgrade as Iran War Pushes Up Energy Costs

This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)

Britain's economic ‌growth prospects this year received the sharpest downgrade of any major economy in the OECD's interim forecast update on Thursday following the US-Israeli war ​on Iran, while inflation is set to rise faster too.

The Paris-based international body cut its 2026 forecast for British economic growth by half a percentage point to 0.7%, compared with a 0.4 percentage point downgrade for the euro zone and a 0.3 percentage point upgrade for the United States.

"Planned fiscal tightening and higher energy prices ‌are anticipated to keep ‌growth subdued in the United ​Kingdom, ‌though the ⁠impact ​will be ⁠attenuated by lower policy rates next year," Reuters quoted the OECD as saying in its report.

Following are further highlights from the report and other context:

Britain's growth forecast for 2027 is unchanged at 1.3%.

Britain's inflation forecast for 2026 is revised up by 1.5 percentage points from December to 4.0%, the ⁠biggest upward revision of any large, advanced ‌economy.

UK inflation in 2027 ‌is forecast to be 2.6%, 0.5 percentage ​points higher than in ‌December and above the Bank of England's 2% target.

Poorer UK households spend more on gas and electricity than in other rich countries, though total energy spending makes up a smaller share of UK inflation than elsewhere.

The OECD expects the ‌BoE to keep interest rates unchanged this year then cut in Q1 2027 as inflation ⁠eases.

⁠Britain's Office for Budget Responsibility, in forecasts finalized just before the start of the conflict, predicted GDP growth of 1.1% this year and 1.6% in 2027.

The BoE this month forecast inflation would rise to 3.0-3.5% over the next couple of quarters.

Prime Minister Keir Starmer has made boosting growth and reducing the cost of living top goals for his government.

Finance minister Rachel Reeves said the forecasts showed the war in the Middle East ​was affecting Britain but ​she would still focus on "regional growth, embracing AI and innovation, and establishing a closer relationship with the EU."


Gold Drops More than 1% as Markets Assess Mideast Ceasefire Prospects

FILED - 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. Photo: Sven Hoppe/dpa
FILED - 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. Photo: Sven Hoppe/dpa
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Gold Drops More than 1% as Markets Assess Mideast Ceasefire Prospects

FILED - 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. Photo: Sven Hoppe/dpa
FILED - 16 March 2023, Bavaria, Munich: Gold bars and coins lie on the table at the Precious metal dealership Pro Aurum. Photo: Sven Hoppe/dpa

Gold prices fell on Thursday, weighed down by increased expectations of US Federal Reserve rate hikes this year as elevated oil prices stoked inflation worries, with investors awaiting clarity on Middle East de-escalation efforts.

Spot gold fell 1.2% to $4,451.47 per ounce by 0811 GMT. US gold futures for April delivery lost 2.3% to $4,448.

"You're ‌seeing an ‌acceleration of the idea that... this war will ‌mean ⁠inflation and inflation ⁠will mean a response from central banks, which will mean higher interest rates," said Ilya Spivak, head of global macro at Tastylive.

Brent crude futures climbed back above $100 a barrel on concerns that protracted fighting in the Middle East will further disrupt energy flows.

Higher crude prices tend to fuel inflation, and while rising inflation typically boosts gold's appeal ⁠as a hedge, high interest rates weigh on ‌demand for the non-yielding asset.

Markets see ‌a 37% chance of a US rate hike by December this year ‌with almost no chance of a cut now, according to ‌CME Group's FedWatch Tool. Before the conflict, markets were expecting at least two rate cuts.

US President Donald Trump said Iran was desperate to make a deal to end nearly four weeks of fighting, contradicting the Iranian foreign ‌minister who said his country was reviewing a US proposal but had no intention of holding talks ⁠to wind down ⁠the conflict.

"In the next 24 to 48 hours, (gold prices) will just be about reacting to headlines about negotiations," said Kyle Rodda, a senior financial market analyst at Capital.com.

"The really big moves will happen probably at the start of next week when it becomes clearer whether the US launches a ground invasion in Iran over the weekend."

Trump has vowed to hit Iran harder if Tehran fails to accept that the country has been "defeated militarily", White House press secretary Karoline Leavitt said on Wednesday.

Spot silver fell 2.7% to $69.36 per ounce. Spot platinum was down 2.3% at $1,874.90, while palladium dropped 2.5% to $1,387.53.