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  • Saudi Arabia spared no effort in supporting Sudanese people, Prince Faisal confirms

    Saudi Arabia’s government and people have spared no effort in supporting Sudanese people since the beginning of the crisis in Sudan, Foreign Minister Prince Faisal Bin Farhan confirmed. Prince Faisal’s confirmation came during participating virtually in the High-level Pledging Event to Support the Humanitarian Response in Sudan and the Region 2023. The event was co-chaired by Saudi Arabia, Qatar, Egypt, Germany, the United Nations, represented by the Office for the Coordination of Humanitarian Affairs (OCHA), as well as the European Union, in addition to the office of the United Nations High Commissioner for Refugees (UNHCR).

  • Turkey Erdogan Government Raises Minimum Wage by 34% in Second Hike in a Year

    Turkey raised its minimum wage for a second time this year, potentially adding to inflationary pressures making the job of the country’s new economic team harder. The monthly net minimum wage will rise by 34% to 11,402 liras ($483), Labor Minister Vedat Isikhan said in televised comments. That’s an increase of 107% from the end of last year.

  • Saudi Arabia’s Ambitious New Airline Makes Debut At Paris Air Show

    One of the world’s newest — and most ambitious — airlines made its international debut on June 19, when a jet in the purple livery of Saudi Arabia’s Riyadh Air flew in to take part in the Paris Air Show at Le Bourget Airport on the outskirts of the French capital. The new airline is backed by the oil wealth of the Saudi government and has plans to carry more than 100 million passengers to and from a network of more than 100 destinations by the end of the decade.

  • Opinion: The US will not gain from Israel-Saudi normalization

    Saudi Arabia does not require an incentive to formally normalize relations with Israel. Though Israel and Saudi Arabia do not formally maintain diplomatic relations, this has not prevented the two from working together towards shared strategic objectives. It has been in their own strategic interest to do so. In that case, though, Saudi Arabia seeks to pressure the U.S. into providing policy concessions and increased security commitments for Riyadh in return for formally normalizing relations with a country with which they are already strategically aligned. This is part of a deliberate strategy by Saudi Crown Prince MbS to exploit growing fears in Washington that the U.S. is losing influence in the Middle East, particularly as other actors such as China are expanding their own regional presence.

  • Saudi budget carrier flynas signs deal for 30 Airbus jets – state TV

    Saudi budget airline flynas has signed a 14 billion riyal ($3.73 billion) agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday.

  • US can’t yet compete with China on EVs, Ford chairman tells CNN

    "They developed very quickly, and they developed them in large scale. And now they're exporting them," Ford told CNN's 'Fareed Zakaria GPS' Sunday program. "They're not here but they'll come here we think, at some point, we need to be ready, and we're getting ready," Ford said. In February, the automaker announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan in a deal which involved using technology from Chinese battery company CATL (300750.SZ), attracting attention from U.S. Senator Marco Rubio who asked the Biden administration to review the deal.

  • Paris Air Show: Aircraft Mega-Deals Prompt Bubble Warning From Industry Veterans

    In less than a year, the global aviation industry has gone from near annihilation to exuberant enthusiasm. Fleet groundings and huge losses have given way to massive profits, and airlines are outdoing one another with record orders. The industry’s newfound swagger was on full display Monday, when Indigo agreed to buy 500 Airbus SE jets, eclipsing a record set only months ago by Air India. Those add to huge purchases by Ryanair Holdings Plc and Saudi startup Riyadh Air earlier this year, with announced deals approaching 1,500 aircraft.

  • Kuwait forms cabinet with new oil minister, finance minister re-appointed

    Kuwait formed a new government on Sunday naming Saad Al Barrak as oil minister to replace Bader Al-Mulla and reappointing Finance Minister Manaf Abdulaziz Al Hajri. Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as prime minister last week, formed the new cabinet announced in a decree carried by the state news agency KUNA. The Gulf Arab state also named a new defence minister, Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah.

  • Airstrike in Sudan’s capital kills 17 people, including five children, hours before US and Saudi Arabia broker ceasefire

    At least 17 people were killed, including five children, after an airstrike hit a residential area in Sudan’s capital Khartoum on Saturday, according to the country’s health ministry, hours before the United States and Saudi Arabia announced a 72-hour ceasefire. At least 25 houses were destroyed in the airstrike that hit the Yarmouk district, the ministry said on its Facebook page, where they posted a video showing residents pulling out dead bodies from under the rubble. The paramilitary Rapid Support Forces (RSF) accused the Sudanese Armed Forces (SAF) of the airstrikes on the Mayo, Yarmouk and Mandela neighborhoods in Khartoum, RSF said on social media.

  • Riyadh Air CEO says airlines that ignore sustainability will fail

    The head of Riyadh Air pledged the Saudi startup would be both commercially and environmentally sustainable and warned carriers that do not embrace climate concerns will not survive. Riyadh Air is owned by Saudi Arabia's Public Investment Fund, which has more than $620 billion in assets under management. Chief Executive Tony Douglas said the owners would impose strict financial expectations, which he did not specify. Douglas was speaking at an event to present the airline on the eve of the Paris Airshow. It is launching at a time when airlines are under pressure to meet industry emission targets, with some facing legal pressure over alleged greenwashing.