Bahrain airshow sets stage for aerospace partnerships

The airshow will showcase Bahrain’s role as a hub for international aerospace events and its growing role in driving regional growth and innovation. Supplied
The airshow will showcase Bahrain’s role as a hub for international aerospace events and its growing role in driving regional growth and innovation. Supplied
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Updated 10 January 2025
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Bahrain airshow sets stage for aerospace partnerships

Bahrain airshow sets stage for aerospace partnerships
  • Event promises major deals, display of cutting-edge technologies

MANAMA: The Bahrain International Airshow 2024 is poised to elevate Bahrain’s position as a leader in the global aerospace industry, foster economic growth, and forge vital industry partnerships.

Under the patronage of King Hamad bin Isa Al-Khalifa, the seventh biennial event will take place from Nov. 13 to 15 at Sakhir Air Base, attracting key players from the world’s aviation, defense, and space sectors.

The airshow will be graced by Crown Prince Salman bin Hamad Al-Khalifa, along with prominent international thought leaders and industry experts.

The event will feature discussions on critical topics such as sustainability in aviation, cutting-edge technological innovations, infrastructure investment, space operations, gender equality in aerospace, and the future workforce challenges facing the industry.

With the participation of both civil and military aviation manufacturers, along with representatives from the fields of transportation, telecommunications, research, and space exploration, BIAS 2024 will serve as a major platform for global collaboration and knowledge exchange.

The airshow will also showcase Bahrain’s role as a hub for international aerospace events and its growing influence in driving regional growth and innovation.

The event will be hosted across a vast 14,000-sq. meter exhibition hall, 40 luxury chalets, and an 86,000-square-meter static aircraft display area. Major international exhibitors, including Lockheed Martin, Rolls-Royce, Thales, DHL, Indra Spain, Otokar, Defense Technology Equipment, and UAE’s Tawazan, will present the latest in aerospace and defense technologies. These displays will provide attendees with a firsthand look at the most advanced technologies shaping the future of aviation and defense.

Bahrain’s role as a strategic player in the aerospace sector has been reinforced in recent years through significant investments and partnerships that have propelled the country’s economic growth.

According to the event’s organizing committee, Bahrain’s gross domestic product grew by 4.9 percent in 2023, the highest rate since 2013. This growth is further supported by an increase in the performance of the non-oil sectors, which expanded by 1.3 percent year on year, reaching 3.7 billion Bahraini dinars ($9.8 billion) in the second quarter of 2024. These figures reflect the ongoing success of Bahrain’s economic diversification strategy, with the non-oil sector contributing more than 85 percent to the overall GDP.

For the first time, 13 companies from Europe, the US, China, Malaysia, and Thailand specializing in airport ground services will participate in BIAS 2024. This marks an expansion of the airshow’s scope, introducing new players and expertise to the event. Additionally, international aviation institutes will offer educational opportunities for attendees, further enhancing the event’s value by inspiring the next generation of aerospace professionals.

Key features

The airshow will also feature a series of impressive aerial displays. These include performances by the Royal Bahraini Air Force’s Copra Zolo by Bell, the Royal Saudi Air Force’s Typhoon and Saudi Hawks aerobatic display teams, as well as the Global Stars, Boeing 787-9, and the Indian Air Force’s Sarang helicopter team. These high-flying performances will showcase the technical capabilities of both military and civilian aircraft, captivating audiences and demonstrating the precision and skill of the world’s top aviators.

Since its launch in 2010, BIAS has grown significantly in both scale and prestige. Traditionally held in January, the event was moved to November in 2018 to better accommodate the needs of participants and the broader aerospace community. The 2022 edition attracted over 46,000 visitors from nearly 60 countries, with 186 companies participating and deals totaling $1.85 billion. The event also featured 100 aircraft on static display and was supported by 18 sponsors.

The final preparations for BIAS 2024 were reviewed in a meeting held two weeks ago, with Sheikh Abdullah bin Hamad Al-Khalifa, personal representative of King Hamad and chairman of the BIAS supreme organizing committee, confirming that everything is in place for the event.

Sheikh Abdullah emphasized that the ongoing success of BIAS reflects Bahrain’s growing role as a premier host for international events and highlighted the importance of continuing to organize specialized aviation affairs. These events not only help solidify the aviation sector’s role as a key economic growth driver but also create valuable opportunities for the youth in innovation and development.

As part of its commitment to engaging the next generation, BIAS 2024 will host approximately 5,000 students from public and private schools. These students will have access to the entertainment zone, where they can enjoy daily air displays and participate in educational programs and workshops. These initiatives are designed to spark interest in aviation, science, and technology, inspiring future careers in these fields.

The Supreme Organizing Committee for the event is chaired by Sheikh Abdullah bin Hamad Al-Khalifa and includes key figures such as Shaikh Abdullah bin Ahmed bin Abdullah Al-Khalifa, Bahrain’s newly appointed minister of transportation and telecommunications; Maj. Gen. Mohammed Al-Musalam, commander of Sakhir Air Base and head of the military committee; and Yousif Mahmoud, director general of BIAS.


Closing Bell: TASI ends in red at 10,823 

Closing Bell: TASI ends in red at 10,823 
Updated 29 July 2025
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Closing Bell: TASI ends in red at 10,823 

Closing Bell: TASI ends in red at 10,823 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed Tuesday’s trading session at 10,823.91, marking a decline of 61.41 points, or 0.56 percent. 

The total trading turnover of the benchmark index reached SR4.41 billion ($1.17 billion), with 52 stocks advancing and 199 retreating. 

The MSCI Tadawul Index also declined, dropping 5.36 points, or 0.38 percent, to close at 1,394.05.  

The Kingdom’s parallel market Nomu fell by 55.39 points, or 0.21 percent, closing at 26,725.89. A total of 22 stocks advanced, while 51 declined. 

BAAN Holding Group Co. was the session’s top performer, with its share price rising 8.70 percent to close at SR2.50. 

Other notable gainers included Amlak International Finance Co., which rose 6.08 percent to SR12.04, and National Metal Manufacturing and Casting Co., up 2.28 percent to SR17.50.     

Amlak’s gains followed the release of its interim financial results for the period ending June 30, showing a 147.6 percent year-on-year increase in net profit to SR20.3 million. 

Mobile Telecommunication Co. Saudi Arabia also recorded gains, with its share price increasing 1.96 percent to SR10.43.  

On the other end, Tourism Enterprise Co. recorded the steepest decline, with its shares falling 10 percent to SR0.99. 

Arabian Drilling Co. followed with a 9.98 percent drop to SR77.55 after announcing a 65 percent year-on-year decline in net profit to SR7 million for the second quarter ended June 30. 

The company stated on Tadawul that the profit decline was primarily due to a fall in rig utilization — down to 79 percent from 91 percent in the same period last year — and higher finance costs stemming from increased gross debt. This was partially offset by a one-off asset impairment recorded in the second quarter of 2024.  

United Carton Industries Co. also posted a notable decline of 7.48 percent, closing at SR31.42. 

Jamjoom Pharmaceuticals Factory Co. and Gulf General Cooperative Insurance Co. posted losses of 4.38 percent and 4.16 percent, closing at SR161.40 and SR5.07, respectively. 


Dubai International Airport sets H1 passenger record with 46m travelers

Dubai International Airport sets H1 passenger record with 46m travelers
Updated 29 July 2025
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Dubai International Airport sets H1 passenger record with 46m travelers

Dubai International Airport sets H1 passenger record with 46m travelers
  • Average monthly traffic during the first half stood at 7.7 million passengers
  • DXB handled 222,000 flights and processed 41.8 million bags in the first half

RIYADH: Dubai International Airport handled 46 million passengers in the first half of 2025, marking its busiest six-month period on record despite regional airspace disruptions and global headwinds. 

In a press release, operator Dubai Airports said the 2.3 percent year-on-year increase underscores the continued strength of the emirate’s aviation sector and the terminal’s operational resilience. 

The growth came despite temporary airspace restrictions in May and June, which forced several Gulf carriers to reroute flights and adjust schedules due to heightened military activity and no-fly zone declarations in parts of the Middle East. 

Paul Griffiths, CEO of Dubai Airports, said: “DXB’s continued growth through a period of regional challenges highlights the strength of Dubai and the UAE, the agility of our operations, and the commitment of our airport community.” 

In the second quarter alone, the airport handled 22.5 million passengers, a 3.1 percent increase over the same period last year. April was the busiest month of the quarter and the most active April on record, with 8 million travelers. 

Average monthly traffic during the first half stood at 7.7 million passengers, with daily volumes averaging 254,000. January was the busiest month, setting a new monthly record with 8.5 million passengers. 

DXB also handled 222,000 flights and processed 41.8 million bags in the first half, with 91 percent delivered within 45 minutes of arrival. The mishandled baggage rate stood at 2 bags per 1,000 passengers, well below the industry average of 6.3, the release added. 

“As we enter the second half of the year, travel activity is expected to accelerate, beginning with the late-summer peak and leading into a winter season filled with high-profile events across entertainment, sport, and business,” said Griffiths. 

He said the Dubai Airshow 2025 will be a standout event, poised to break previous records and highlight the bold vision driving the future of aviation and aerospace. 

“Based on our performance to date and a positive outlook, we expect the annual traffic to reach 96 million this year, bringing us closer to the symbolic 100 million milestone,” added Griffiths. 

India remained DXB’s top market in the first half of the year, with 5.9 million passengers, followed by Saudi Arabia with 3.6 million. The UK accounted for 3 million passengers, while Pakistan and the US recorded 2.1 million and 1.6 million, respectively. 

London was the busiest city destination with 1.8 million passengers, followed by Riyadh, Mumbai, Jeddah, New Delhi, and Istanbul. 

DXB also processed more than 1 million tonnes of cargo during the first half of 2025, a 0.1 percent increase compared with the same period last year. The airport is connected to more than 269 destinations in over 107 countries and is served by 92 international carriers. 


Saudi Arabia tops MENA private equity activity in H1: MAGNiTT 

Saudi Arabia tops MENA private equity activity in H1: MAGNiTT 
Updated 29 July 2025
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Saudi Arabia tops MENA private equity activity in H1: MAGNiTT 

Saudi Arabia tops MENA private equity activity in H1: MAGNiTT 

RIYADH: Saudi Arabia emerged as the most active private equity market in the Middle East and North Africa during the first half of 2025, accounting for 45 percent of all recorded transactions.

According to MAGNiTT’s MENA Private Equity Report, the Kingdom posted 13 deals, an 8 percent increase year on year, outpacing the UAE, which recorded 12 transactions, representing a 25 percent annual decline. 

Combined, the two markets comprised 86 percent of total regional PE deal activity, highlighting their growing dominance in the MENA investment landscape. 

Overall, the region continued to see a contraction in transaction volumes, with total activity dropping by 38 percent year on year to account for just 29 percent, marking the third consecutive half-year decline.

Disclosed deal value dropped only 11 percent from the first half of the year 2024 to $2.88 billion, as capital shifted toward larger, high-conviction investments. 

“The MENA region’s PE recalibration is being led by scale-ready SMEs (small and medium-sized enterprises) and high-conviction strategies, not withdrawal,” said Farah El-Nahlawi, research department manager at MAGNiTT, adding: “The growing dominance of $100M+ deals signals a maturing landscape ready to absorb larger pools of capital.” 

The Kingdom’s PE growth aligns with its venture capital growth. According to a separate report by MAGNiTT, Saudi Arabia led MENA VE activity in early 2025, raising $860 million — a 116 percent year-on-year increase — driven by sovereign backing and rising foreign investor interest. 

The report recorded 114 VC deals in the first half of the year, up 31 percent from the same period in 2024, highlighting the broader momentum across the nation’s investment ecosystem and its growing appeal as a capital destination for both private equity and venture capital. 

Investor activity varied notably among key markets. In Saudi Arabia, 12 out of 13 transactions involved local investors, highlighting strong domestic momentum.

In contrast, two-thirds of the UAE’s deals — eight out of 12 — were led by international investors, reaffirming the UAE’s role as a regional gateway for cross-border capital. 

The concentration of capital into larger deals was a defining trend. Transactions in the $500 million to $1 billion range rose to 29 percent of the total in the first half of 2025, while $1 billion-plus deals accounted for 14 percent — both the highest shares in five years. 

At the same time, smaller deals under $50 million dropped to just 14 percent, the lowest level on record. 

On a value basis, transactions in the $500 million to $1 billion bracket made up 42 percent of disclosed capital, overtaking the $1 billion-plus segment, which declined from 45 percent in 2024 to 36 percent in the first half of 2025. 

This evolution aligns with broader global investment patterns. According to S&P Global, international PE deal value rose 18.7 percent year on year in the first half of 2025 despite a 6 percent decrease in volume, suggesting an industry-wide pivot toward fewer but more substantial transactions. 

“Despite global macro uncertainty, the GCC, particularly Saudi Arabia and the UAE, continues to demonstrate structural strength and investor confidence,” El Nahlawi said, adding: “Backed by sovereign support, maturing SMEs, and a favorable regulatory environment, the region is poised to anchor future PE activity.” 

Beyond the Kingdom and the UAE, Egypt, Jordan, Morocco, and Qatar each recorded a single transaction, jointly accounting for the remaining 14 percent of regional activity. Egypt experienced the sharpest drop, with dealings down 89 percent year on year.


Saudi Arabia, UAE rank among top 20 nations for AI talent density

Saudi Arabia, UAE rank among top 20 nations for AI talent density
Updated 29 July 2025
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Saudi Arabia, UAE rank among top 20 nations for AI talent density

Saudi Arabia, UAE rank among top 20 nations for AI talent density

RIYADH: Saudi Arabia and the UAE have emerged as global hubs for artificial intelligence expertise, ranking among the world’s top 20 countries by talent density, a new survey showed.

According to the latest Global AI Competitiveness Index, issued as a collaboration between the International Finance Forum and Deep Knowledge Group, the Kingdom holds 0.7 percent of the global AI talent pool. In comparison, the UAE holds 0.4 percent, placing it ahead of countries like Russia and Italy.

This supports the nation’s National Strategy for Data and AI, which aims to place Saudi Arabia among the world’s top 15 in AI, the top 10 in the Open Data Index, and the top 20 for data and AI-related publications.

It also aligns with projections from PwC that AI will contribute $235.2 billion, around 12.4 percent, to the Kingdom’s gross domestic product by 2030.

“Saudi Arabia and the UAE’s strategic focus on AI, their significant investments in education, infrastructure, and innovation, and their ability to attract top talent and investments are setting the stage for a new era of growth in the region,” Dmitry Kaminskiy, general partner at Deep Knowledge Group, said in a press release.

“Both nations are making substantial strides toward becoming global AI leaders, with the UAE positioning itself as a major player in AI governance and technology, while Saudi Arabia is building a robust ecosystem for AI talent and applications,” Kaminskiy added.

The report further indicated that in a major milestone, King Abdullah University of Science and Technology has joined the ranks of the top 150 universities worldwide for AI talent production, making it the highest-ranking institution in the Middle East as a whole.

It also showed that the Kingdom has committed $20 billion to partnerships with leading institutions, including Stanford University, to establish KAUST as home to one of the world’s top AI research labs. Complementing this, national initiatives such as the 10,000 Coders program are equipping young Saudis with advanced AI skills to build local talent and drive innovation.

As part of Saudi Vision 2030, AI is recognized as a key pillar of the Kingdom’s economic transformation. The strategy aims to position the nation among the world’s top 10 countries in AI research and implementation by 2030, while drawing in $20 billion in investments and generating 200,000 high-tech jobs.

The Kingdom created the Saudi Data and Artificial Intelligence Authority to lead the country’s AI strategy. Key initiatives enjoy fast-track approvals, with decisions usually finalized within 30 days.

Sovereign wealth is also driving AI expansion, with the Kingdom’s Public Investment Fund launching a $1.5 billion fund dedicated to AI investments.

The nation is also channeling substantial resources into initiatives like Neom, where over 30 percent of the $500 billion budget is allocated to AI infrastructure, redefining the future of smart cities.


Oil Updates — prices steady amid economic concerns, US rate decision awaited

Oil Updates — prices steady amid economic concerns, US rate decision awaited
Updated 29 July 2025
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Oil Updates — prices steady amid economic concerns, US rate decision awaited

Oil Updates — prices steady amid economic concerns, US rate decision awaited
  • Brent crude had hit highest level since July 18 on Monday
  • US and China officials at Stockholm for trade talks
  • Market looks to U.S. Fed Reserve interest rate decision -analyst

SINGAPORE: Oil prices were steady on Tuesday amid uncertainty about the global economic outlook following the US-EU trade deal, and as investors awaited the US Federal Reserve’s interest rate decision.

Brent crude futures were up 1 cent at $70.05 a barrel at 8:10 a.m. Saudi time, while US West Texas Intermediate crude was at $66.69, down 2 cents.

Both contracts settled more than 2 percent higher in the previous session, and Brent touched its highest level since July 18 on Monday.

The trade agreement between the US and the European Union, while imposing a 15 percent import tariff on most EU goods, sidestepped a full-blown trade war between the two major allies that would have rippled across nearly a third of global trade and dimmed the outlook for fuel demand.

The agreement also calls for $750 billion of EU purchases of US energy in the coming years, which analysts say the EU has virtually no chance of meeting, while European companies are to invest $600 billion in the US over the course of President Donald Trump’s second term.

While the US-EU trade deal finalization came as a relief for global markets amid heightened uncertainty, the timeline and milestones targeted for the investments are unclear, said ANZ analysts in a note.

“We think the 15 percent rate will pose headwinds to the Euro area’s growth outlook but is unlikely to push the economy into recession.”

Meanwhile, top economic officials from the US and China met in Stockholm on Monday for more than five hours of talks to resolve longstanding economic disputes at the center of a trade war between the world’s top two economies. The discussions are expected to resume on Tuesday.

Oil market participants are also awaiting the US Federal Open Market Committee meeting on July 29-30, where the Fed is widely expected to hold rates but could signal a dovish tilt amid signs of cooling inflation, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.

“Momentum favors the upside in the near term, but the market is vulnerable to volatility triggered by central bank surprises or a breakdown in trade negotiations,” said Sachdeva.

“The likelihood of an economic slowdown and the Federal Reserve’s potential rate cuts remain uncertain, limiting the upside in oil.”

Meanwhile, Trump set a new deadline on Monday of “10 or 12 days” for Russia to make progress toward ending the war in Ukraine or face sanctions. Trump has threatened sanctions on both Russia and buyers of its exports unless progress is made.