Sunday February 28, 2021 / 16 , Rajab , 1442
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Anwar Gasim, researcher in the Climate and Environment Program at the King Abdullah Petroleum Studies and Research Center (KAPSARC).
24% reduced demand for gasoline during the curfew
RIYADH — Anwar Gasim, a researcher in the Climate and Environment Program at the King Abdullah Petroleum Studies and Research Center (KAPSARC), revealed that the demand for kerosene decreased by 46% and gasoline by 24% in March 2020 compared with the same month in 2019, due to the COVID-19 restriction measures that Saudi Arabia had taken in that month.He explained to the Al-Watan newspaper that the demand for liquefied petroleum gas (LPG), diesel, fuel oil and other oil products did not change during that period. LPG is used in the residential sector and in bakeries as cooking gas, and in the petrochemical sector as feedstock.Fuel OilThe researcher indicated that the demand for fuel oil, which is used in power generation, thermal desalination, industrial manufacturing, and international...
February 27, 2021

24% reduced demand for gasoline during the curfew

 International Monetary Fund Managing Director Kristalina Georgieva has called for strong G20 policies to counter ‘dangerous divergence’. — WAM photo
IMF chief calls for strong G20 policies to counter ‘dangerous divergence’
WASHINGTON — International Monetary Fund Managing Director Kristalina Georgieva has called for strong G20 policies to counter ‘dangerous divergence’. "Today, powered by advancements in vaccinations and your strong monetary policy and fiscal actions, the world economy is on the path of recovery. Growth prospects for this year, enhanced by a sizable additional stimulus in some large economies, are possibly even above our January 5.5 percent projection. Yet, uncertainties remain very high, as vaccinations still have a long way to go against new waves and variants of the virus, " she said on Friday at the virtual meeting of the G20 finance ministers and central bank governors. "And we see a dangerous divergence between and within economies. In emerging and developing...
February 26, 2021

IMF chief calls for strong G20 policies to counter ‘dangerous divergence’

Safarway: The only guide you will need on your trip
JEDDAH — Saudi Arabia opened its doors to tourism on September 27 last year to let the world experience its hidden beauty. From scenic valleys in Asir to breathtaking beaches in Umluj, from ancient historical sites in Al Ula to museums in Riyadh and Jeddah. Saudi Arabia is also an adventure junkie’s paradise. Over the last few years, Saudi Arabia has put out on fare a lot of sporting events such as hosting wrestling matches to F1 racing for both men and women to Dakar Valley races to hot-air balloon rides. A lot of hiking, camping, rock climbing, scuba diving activities have also mushroomed for both residents and tourists. There’s something for everyone in Saudi Arabia. So, how do you get to Saudi Arabia? How do you find the best hotels, happening events and tourist sites? You’re...
February 25, 2021

Safarway: The only guide you will need on your trip

The COVID-19 pandemic has refocused IT spending priorities for airlines and airports in 2020 as revenue plunged and the industry faced new health and operational requirements needed to keep flying.
COVID-19 has changed the IT spending priorities for airports and airlines
GENEVA — The COVID-19 pandemic has refocused IT spending priorities for airlines and airports in 2020 as revenue plunged and the industry faced new health and operational requirements needed to keep flying.Among the key finding from SITA’s 2020 Air Transport IT Insights, published Wednesday, was an accelerated investment in automated passenger processing focusing on touchless and mobile services.There was also a strong focus on virtual and remote IT services that allowed employees to work from home while ramping up communications with passengers. Cybersecurity and cloud services — that helped automate operations and drive new efficiencies — were key.In 2020, SITA data showed that flight volumes plunged 44% year-on-year due to the pandemic. As a result of this impact on demand, IATA...
February 24, 2021

COVID-19 has changed the IT spending priorities for airports and airlines

Sherif Shaltout
SOC as a Service to enable more secured digital transformation journey in Saudi Arabia
RIYADH — Sherif Shaltout, Vice President of Operations for Cysiv Middle East and Africa, sheds light on the current cyber security landscape and how can organizations better protect their digital estates in the kingdom• How critical is cyber security in these times, and how will SOC as a service address the challenges for organizations? Cyber security is no longer simply an IT discussion. It is a board level discussion and a national security one too. The Middle East has been particularly one of the main frontiers of cyber warfare in recent years. Stuxnet, Shamoon and Triton are among the most sophisticated cyberattacks ever carried out, and they all took place in the Middle East. Two of them were direct attacks against two of Saudi Arabia’s biggest organizations. This has brought...
February 24, 2021

SOC as a Service to enable more secured digital transformation journey in Saudi Arabia

The fourth day of the International Defense Exhibition (IDEX) and the Naval Defence Exhibition (NAVDEX) 2021 has seen the United Arab Emirates' armed forces sign 24 new deals, worth 2.140 billion dirhams , with local and international companies. The cumulative value of deals signed at IDEX and NAVDEX is now 20.053 billion dirhams ($5.46 billion).  — Courtesy photo
$5.4bn worth of deals signed over four days of IDEX and NAVDEX
ABU DHABI — The fourth day of the International Defense Exhibition (IDEX) and the Naval Defence Exhibition (NAVDEX) 2021 has seen the United Arab Emirates' armed forces sign 24 new deals, worth 2.140 billion dirhams , with local and international companies. The cumulative value of deals signed at IDEX and NAVDEX is now 20.053 billion dirhams ($5.46 billion). Staff Brigadier-General Mohammed Al Hassani, Official Spokesperson of the IDEX and NAVDEX exhibitions, said: "The total amount of deals with UAE companies amounted to 1.42 billion dirhams, which accounts for 66 percent of the total deal value, while the total amount of deals with international companies amounted to 720 million dirhams, or 34 percent of the total deal value. "A total of 18 contracts were awarded to UAE...
February 24, 2021

$5.4bn worth of deals signed over four days of IDEX and NAVDEX

Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had signed long-term lease agreements for 7 Airbus A321neo aircraft with IndiGo, India’s largest passenger airline. — WAM photo
Dubai Aerospace leases 7 Airbus A321neo aircraft from IndiGo
DUBAI — Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had signed long-term lease agreements for 7 Airbus A321neo aircraft with IndiGo, India’s largest passenger airline. All 7 aircraft will be powered by CFM International’s Leading Edge Aviation Propulsion (LEAP) engines and are scheduled to be delivered in 2021. Firoz Tarapore, Chief Executive Officer of DAE said: "We are delighted to add this fuel-efficient aircraft and popular aircraft type to our leased aircraft portfolio. This investment reiterates our commitment to invest in new, fuel-efficient aircraft to minimise carbon and nitrogen emissions as well as noise while at the same time increase performance, reliability and environmental sustainability." — WAM
February 23, 2021

Dubai Aerospace leases 7 Airbus A321neo aircraft from IndiGo

The OPEC Fund for International Development (OFID) has signed a $50 million loan with Tanzania to finance the ‘Fourth Tanzania Poverty Reduction Project’.
OFID extends $50 million for poverty reduction in Tanzania
VIENNA — The OPEC Fund for International Development (OFID) has signed a $50 million loan with Tanzania to finance the ‘Fourth Tanzania Poverty Reduction Project’. The project will build rural infrastructure to boost economic opportunities and improve access to social services for more than 900,000 people.Although Tanzania has made progress in reducing poverty over the past decade, around 26 million people — close to half the total population — live on less than $1.90 per day. The Tanzanian government has launched a number of programs to tackle this challenge, including social safety net initiatives and three previous phases (also co-financed by the OPEC Fund) of the new project.Phase four will build infrastructure for education, health, water, agriculture and transportation, and...
February 22, 2021

OFID extends $50 million for poverty reduction in Tanzania

The world’s tallest building, Burj Khalifa lit up to celebrate the launch of 200th LuLu Hypermarket.
LuLu reaches new heights, literally
DUBAI — The world’s tallest building, Burj Khalifa lit up to celebrate the launch of 200th LuLu Hypermarket. The visitors at the landmark destination and millions across the world saw the iconic Burj Khalifa projecting the familiar colors of Lulu logo with congratulatory messages to commemorate the proud moment.LuLu, which opened its first store in the UAE in early 90s opened its 200th store recently in Cairo, Egypt. With retail footprint spanning 10 countries including GCC, Egypt, India, Indonesia and Malaysia, Lulu group has been a shining example of UAE based organization going global.Apart from retail business, LuLu also has major interest in sourcing and food production business with operations in US, UK, Spain, Africa, India, Far East & China employing in excess of 57,000...
February 21, 2021

LuLu reaches new heights, literally

Roxtec Saudi Arabia Director of Middle East Operations Firas Kafafi
Global manufacturer Roxtec launches Saudi Arabian company
ALKHOBAR — Swedish-headquartered Roxtec is launching its subsidiary, Roxtec Saudi Arabia, building on more than 20 years of trading in the Kingdom. The company will be headquartered in the port city of Al Khobar in Eastern Saudi Arabia on the Arabian Gulf.Roxtec Saudi Arabia Director of Middle East Operations Firas Kafafi said setting up the KSA subsidiary was a ‘natural progression’ with Roxtec keen to fully support the government’s Vision 2030 and ‘In Kingdom Total Value Add’ (IKTVA) programs.“Saudi Arabia is a key market for Roxtec,” he said. “We know the country very well and now is the right time to set up a company here with the support of long- standing well known KSA customers.“We understand the Kingdom is evolving and Roxtec Saudi Arabia can now play its part...
February 21, 2021

Global manufacturer Roxtec launches Saudi Arabian company

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