Sign in
AVIATION-
#1- The Public Investment Fund’s new flagship carrier Riyadh Air has inked a five-year agreement with US-based aviation company GE Aerospace to equip it with data-driven analytics for its flights, according to a statement. Riyadh Air is buying real-time flight data monitoring, flight operations quality assurance, and fuel consumption monitoring.
#2- Low-cost airline Flynas will launch direct flights connecting Madinah to Bahrain and Doha starting September, it said in a post on X. The new routes will run three flights per week to Bahrain (starting 10 September) and two to Doha (starting 12 September).
(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)
AGRICULTURE-
South Korean food products provider Nongshim will join a consortium to build a smart farm in Riyadh by the end of 2025, after being selected in the Korean government’s Smart Farm Export Promotion Project, according to media reports (here and here). Others in the consortium include South Korean greenhouse solutions provider SFarm, agritech firm ioCrops, and IT outfit Pomit. The produce will be earmarked for local distribution via major retailers such as Carrefour, Lulu Hypermarket, Amazon, and Noon.
TOURISM-
The Saudi Red Sea Authority and Tourism Ministry have launched a training program for staff working in coastal resorts, state news agency SPA reported. The program is accredited by the University of Plymouth and Dale Carnegie. It comes under the ministry’s efforts to enhance its capacities for coastal tourism.
DEBT WATCH-
Tadawul-listed Al Jouf Cement signed an agreement with Alinma Bank to reschedule SAR 374 mn in Shariah-compliant facilities from the bank to 2031 instead of 2029, it said in a disclosure to Tadawul. The funding will help support the cement producer’s operational and financial operations.
#2- The board of Nomu-listed real estate developer Ladun Investment has renewed a SAR 181.6 mn sharia-compliant credit facility from Riyad Bank, which could run for up to five years, it said in a disclosure to Tadawul. The fresh funds are earmarked to finance its working capital, projects, and land acquisition plans.
