Saudi Arabia wealth fund to order 30 Boeing jets
Saudi Arabia's sovereign wealth fund plans to order 30 Boeing 737 MAX jets, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The Public Investment Fund (PIF) was set to buy the jets for aircraft leasing company AviLease, according to the report. The Riyadh-based firm has 200 owned and managed aircraft and leases to 48 airlines globally.
Boeing and AviLease did not immediately respond to Reuters' requests for comment. PIF could not be immediately reached for comment.
Elon Musk invited to Saudi-US investment forum in Riyadh, planning note says
Earlier in the day, Boeing official Michael Strosnider told Saudi state TV that the U.S. planemaker had been looking at bringing Saudi Arabia into the global supply chain for the F-15EX fighter jet.
Boeing CEO Kelly Ortberg is among corporate leaders accompanying U.S. President Donald Trump on his Middle East Tour, beginning with Saudi Arabia on Tuesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
38 minutes ago
- Express Tribune
Indonesia eyes J-10s from China, questions $8b US F-15EX deal
Indonesia is weighing buying China's J-10 fighter jets, given their relatively cheaper price and advanced capability, as it also considers finalising a purchase of US-made F-15EX jets, a senior official said on Wednesday. Southeast Asia's most populous country has in recent years embarked on efforts to modernise its ageing military hardware. In 2022 it bought 42 French Rafale jets worth $8.1 billion, six of which will be delivered next year. "We have had talks with China and they offered us a lot, not just J-10, but also ships, arms, frigates," said Deputy Defence Minister and retired Air Marshal Donny Ermawan Taufanto. "We're evaluating J-10," Taufanto said, adding that Jakarta was reviewing system compatibility and after-sales support as well as pricing. Read more: Indonesia's $8.1b Rafale deal questioned after Pakistan downs Indian jets A potential purchase has been considered for over a year, before the recent conflict between India and Pakistan, but Taufanto said Indonesia would factor in reports that a Pakistani J-10 plane shot down multiple Indian jets last month. Jakarta also continues to consider whether to proceed with the next step for its purchase of F-15EX fighters, he said, following the defence ministry's deal with planemaker Boeing (BA.N), opens new tab for the sale in 2023. Taufanto said the US jets' capabilities were well recorded, but suggested the offered price of $8 billion for 24 planes remained in question. French President Emmanuel Macron said after meeting Indonesian counterpart Prabowo Subianto in Jakarta last week that they had signed a preliminary defence pact that could lead to new orders of French hardware including Rafale jets. "We're considering (France's) offer. We're considering our own budget, we're evaluating, especially given we have other options like J-10, F-15," Taufanto said.
Business Recorder
40 minutes ago
- Business Recorder
Dubai party hotel FIVE considers listing in London or New York
DUBAI: Dubai party hotel operator FIVE Holdings is considering listing in London or New York, three people with knowledge of the matter said. The company, which owns the Pacha hotel and nightclub, has been exploring an initial public offering in Dubai, it has said. Chairman and founder Kabir Mulchandani said last year the company was worth up to $3 billion and was considering a dual listing. He did not name possible locations. London could be a strong candidate given a majority of clients at FIVE's Ibiza clubs are British nationals and that business generates significant revenues for the group, one of the people said. An offering would be a boost for London, which has struggled to attract IPOs. FIVE did not respond to requests for comment. Dubai is the biggest tourism and trade hub in the Middle East, attracting a record 18.7 million international overnight visitors last year. Foreign investors accounted for 50% of the total trading value on the Dubai Financial Market exchange last year, exchange data showed. UAE seeks US trade deal to roll back Trump's steel and aluminium tariffs The company and its advisers are planning to start the listing process by the end of the year, two of the people said. The three people spoke on condition of anonymity because they were not authorised to speak publicly. FIVE operates luxury hotels in Ibiza and Switzerland as well as owning one of Dubai's biggest party hotels, where guests can park their top-of-the-range sports cars inside a nightclub for Dhs10,000 ($2,723). Guests can also rent its 16-passenger private jet for $14,000 an hour. This year's market volatility, triggered by U.S. President Donald Trump's policies, has weighed on global IPO activity, but the Gulf region has bucked the trend as both Saudi Arabia and the UAE have forged ahead with listing plans. They include Saudi budget airline flynas, which is seeking to raise over $1 billion, and Dubai Holding's residential REIT, whose shares rose almost 15% during its debut on Wednesday.
Business Recorder
an hour ago
- Business Recorder
US expected to block Gaza ceasefire vote at Security Council
UNITED NATIONS: The UN Security Council will vote Wednesday on a resolution calling for a ceasefire and unrestricted humanitarian access in Gaza, a measure expected to fail due to a US veto. It is the 15-member body's first vote on the subject since November, when the United States – a key Israeli ally – also blocked a text calling for an end to fighting. The new resolution, seen by AFP, 'demands an immediate, unconditional and permanent ceasefire in Gaza respected by all parties.' It also calls for the 'immediate, dignified and unconditional release of all hostages held by Hamas and other groups.' Underlining a 'catastrophic humanitarian situation' in the Palestinian territory, the resolution additionally demands the lifting of all restrictions on the entry of humanitarian aid into Gaza. US-backed Gaza aid group to halt distribution on Wednesday, UN to vote on ceasefire demand It will be put to vote at 4:00 pm Wednesday (2000 GMT), but several diplomats indicated to AFP that they expected the United States to wield its veto power. They added that the representatives from the 10 elected members of the Council, who will introduce the text, tried in vain to negotiate with the American side. The veto, if applied, would be the first by Washington since US President Donald Trump took office in January. That scrutiny has increased over flailing aid distribution in Gaza, which Israel blocked for more than two months before allowing a small number of UN vehicles to enter in mid-May. The United Nations said that was not enough to meet the humanitarian needs. A US-backed relief effort called the Gaza Humanitarian Fund (GHF) has also come under criticism for going against long-standing aid principles by coordinating relief efforts with a military belligerent. Israeli bombardment on Wednesday killed at least 16 people in the Gaza Strip, including 12 in a single strike on a tent housing displaced people, the Palestinian territory's civil defense agency told AFP. On Tuesday, 27 people were killed in southern Gaza when Israeli troops opened fire near a GHF aid site, with the military saying the incident was under investigation. Riyad Mansour, the Palestinian ambassador to the UN, on Tuesday urged the Council to act. 'All of us will be judged by history as to how much have we done in order to stop this crime against the Palestinian people,' he said. Israel's ambassador to the UN Danny Danon lambasted the draft text. 'This resolution doesn't advance humanitarian relief. It undermines it. It ignores a working system in favor of political agendas,' he was to tell the council, according to remarks released by his office. 'It ignores the one party still endangering civilians in Gaza: Hamas.'
