عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Riyadh Air Announces Inaugural Flights to London on October 26, Unveils ‘Sfeer’ Loyalty Program

Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)
Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)
TT
TT

Riyadh Air Announces Inaugural Flights to London on October 26, Unveils ‘Sfeer’ Loyalty Program

Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)
Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila.” (SPA)

Riyadh Air, Saudi Arabia’s new national carrier and a Public Investment Fund company, announced on Wednesday the launch of its first daily flights to London Heathrow Airport, starting October 26. The milestone marks a major step toward achieving full operational readiness and delivering world-class travel experiences.

The airline also unveiled its innovative loyalty program, “Sfeer,” designed to offer exclusive benefits to its early founding members and to redefine the future of loyalty in global aviation, said Riyadh Air in a statement.

Starting October 26, Riyadh Air will operate daily flights between Riyadh and London Heathrow using its Boeing 787-9 aircraft, named “Jamila,” currently serving as the airline’s technical spare. In the initial phase, tickets will be available for select passenger groups and Riyadh Air employees as part of a structured operational program to ensure full readiness ahead of receiving its first new aircraft from Boeing, while also utilizing its newly allocated operational slot at Heathrow Airport.

The inaugural flight RX401 will depart King Khalid International Airport in Riyadh at 3:15 a.m. and arrive at London Heathrow at 7:30 a.m. The return flight RX402 will depart London at 9:30 a.m. and arrive in Riyadh at 7:15 p.m.

This operational phase represents a key milestone in Riyadh Air’s journey, which will soon be followed by additional routes, including Dubai, underscoring the airline’s commitment to excellence. Through comprehensive evaluation of the initial “Jamila” flights, the airline is ensuring world-class readiness and service quality ahead of launching new destinations for the Winter 2025 and Summer 2026 seasons.

Commenting on the milestone, Riyadh Air CEO Tony Douglas said: “This is more than just the launch of a route, it is the realization of our vision to connect the Kingdom with the world as a driving force of Saudi Vision 2030.”

“Our commitment to begin operations in 2025 is now taking shape. This carefully planned flight program allows us to perfect every operational detail to ensure a seamless, reliable, and world-class travel experience. We are only steps away from full-scale operations, with more destination launches to be announced in the coming weeks,” he added.

Douglas sressed that the new “Sfeer” program combines the Arabic meaning of “Ambassador” with the English word “Sphere,” symbolizing global connection. “Sfeer” enables members to embody Saudi hospitality and represent Riyadh Air internationally. It introduces a unique, community-driven approach to loyalty programs that blends social engagement with innovative digital experiences, allowing members to explore the best of Saudi Arabia.

A distinctive feature of “Sfeer” is its ability to allow members to share Level Points with family and friends, helping them reach higher membership tiers together.

Registration is now open on Riyadh Air’s official website, where early registrants will be granted “Founding Member” status, gaining early access to bookings on Riyadh Air’s first flights and additional exclusive benefits to be announced soon.

The innovative design of “Sfeer” centers on community, enabling members to soon share their points, rewards, and qualified spending with family and friends, reflecting Saudi generosity and collective spirit. By 2026, once fully activated, “Sfeer” will introduce interactive digital challenges, leaderboards, and a “no points expiry” policy, representing a true embodiment of Saudi generosity.

Joining “Sfeer” today grants members immediate benefits and positions them at the forefront of Riyadh Air’s journey. Founding members will enjoy priority booking when commercial flights open for sale and exclusive invitations to special events and experiences.

Over the coming months, all members will have access to unique activities and partnerships with local and international entities, including culinary and entertainment experiences, and opportunities to win free flights and valuable prizes.

Most Viewed

 
 
Business

Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
TT
TT

Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.

Business

Al-Rumayyan: PIF Investments in Local Content Exceed $157 Billion

Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)
Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)
TT
TT

Al-Rumayyan: PIF Investments in Local Content Exceed $157 Billion

Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)
Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)

Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund (PIF), announced that spending by the sovereign fund’s programs, initiatives, and companies on local content reached 591 billion riyals ($157 billion) between 2020 and 2024.

He added that the fund’s private sector platform has created more than 190 investment opportunities worth over 40 billion riyals ($10 billion).

Speaking at the opening of the PIF Private Sector Forum on Monday in Riyadh, Al-Rumayyan said the fund is working closely with the private sector to deepen the impact of previous achievements and build an integrated economic system that drives sustainable growth through a comprehensive investment cycle methodology.

He described the forum as the largest platform of its kind for seizing partnership and collaboration opportunities with the private sector, highlighting the fund’s success in turning discussions into tangible projects.

Since 2023, the forum has attracted 25,000 participants from both public and private sectors and has witnessed the signing of over 140 agreements worth more than 15 billion riyals, he pointed out.

Al-Rumayyan emphasized that the meeting comes at a pivotal stage of the Kingdom’s economy, where competitiveness will reach higher levels, sectors and value chains will mature, and ambitions will be raised.

PIF Private Sector Forum aims to support the fund’s strategic initiative to engage the private sector, showcase commercial opportunities across PIF and its portfolio companies, highlight potential prospects for investors and suppliers, and enhance cooperation to strengthen the local economy.

Business

Pakistan’s Finance Minister to Asharq Al-Awsat: We Draw Inspiration from Saudi Arabia

The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)
The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)
TT
TT

Pakistan’s Finance Minister to Asharq Al-Awsat: We Draw Inspiration from Saudi Arabia

The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)
The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)

Pakistani Finance Minister Muhammad Aurangzeb discussed the future of his country, which has frequently experienced a boom-and-bust cycle, saying Pakistan has relied on International Monetary Fund (IMF) programs due to the absence of structural reforms.

In an interview with Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Aurangzeb acknowledged that Pakistan has relied on IMF programs 24 times not as a coincidence, but rather as a result of the absence of structural reforms and follow-up.

He stressed the government has decided to "double its efforts" to stay on the reform path, no matter the challenges, affirming that Islamabad not only has a reform roadmap, but also draws inspiration from "Saudi Vision 2030" as a unique model of discipline and turning plans into reality.

Revolution of Numbers

Aurangzeb reviewed the dramatic transformation in macroeconomic indicators. After foreign exchange reserves covered only two weeks of imports, current policies have succeeded in raising them to two and a half months.

He also pointed out to the government's success in curbing inflation, which has fallen from a peak of 38 percent to 10.5 percent, while reducing the fiscal deficit to 5 percent after being around 8 percent.

Aurangzeb commented on the "financial stability" principle put forward by his Saudi counterpart, Mohammed Aljadaan, considering it the cornerstone that enabled Pakistan to regain its lost fiscal space.

He explained that the success in achieving primary surpluses and reducing the deficit was not merely academic figures, but rather transformed into solid "financial buffers" that saved the country.

The minister cited the vast difference in dealing with disasters. While Islamabad had to launch an urgent international appeal for assistance during the 2022 floods, the "fiscal space" and buffers it recently built enabled it to deal with wider climate disasters by relying on its own resources, without having to search "haphazardly" for urgent external aid, proving that macroeconomic stability is the first shield to protect economic sovereignty.

Privatization and Breaking the Stalemate of State-Owned Enterprises

Aurangzeb affirmed that the Pakistani Prime Minister adopts a clear vision that "the private sector is what leads the state."

He revealed the handover of 24 government institutions to the privatization committee, noting that the successful privatization of Pakistan International Airlines in December provided a "momentum" for the privatization of other firms.

Aurangzeb also revealed radical reforms in the tax system to raise it from 10 percent to 12 percent of GDP, with the adoption of a customs tariff system that reduces local protection to make Pakistani industry more competitive globally, in parallel with reducing the size of the federal government.

Partnership with Riyadh

As for the relationship with Saudi Arabia, Aurangzeb outlined the features of a historic transformation, stressing that Pakistan wants to move from "aid and loans" to "trade and investment."

He expressed his great admiration for "Vision 2030," not only as an ambition, but as a model that achieved its targets ahead of schedule.

He revealed a formal Pakistani request to benefit from Saudi "technical knowledge and administrative expertise" in implementing economic transformations, stressing that his country's need for this executive discipline and the Kingdom's ability to manage major transformations is no less important than the need for direct financing, to ensure the building of a resilient economy led by exports, not debts.