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Riyadh Air Makes Multi-Billion Dollar Deal With Boeing

The investment will see the Saudi Arabian airline take delivery of up to 72 aircraft.

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riyadh air makes multi-billion dollar deal with boeing
Boeing

Saudi Arabia’s Riyadh Air, the airline backed by the county’s Public Investment Fund, has ordered up to 72 Boeing 787-9 Dreamliner aircraft in a multi-billion dollar deal.

The order is unprecedented for a new airline and highlights Saudi Arabia’s ambition to become a major aviation hub.

tony douglas ceo of riyadh airlines

The order comprises 39 confirmed aircraft plus another 33 wide-bodied 787-9 Dreamliners. It comes as Saudi Arabia’s national carriers announced their intent to order up to 121 aircraft in total, representing the fifth-largest commercial order by value in Boeing’s history.

The huge Boeing order will help to shuttle a projected 330 million passengers by 2030. His Excellency Yasir Al-Rumayyan, Governor of the PIF and Chairman of Riyadh Air, applauded the move, saying, “This is a momentous day for PIF and Riyadh Air, and highlights our determination to significantly extend Saudi Arabia’s connectivity with the world”.

Also Read: Robots Are Coming To Dubai Airport For Speedier Check-Ins

Riyadh Air is a digital-first airline committed to sustainability, in line with Saudi Arabia’s Vision 2030 toward net zero emissions. The Boeing 787-9 Dreamliner is manufactured to achieve lower CO2 emissions, greater fuel efficiency, and pass stringent noise regulations.

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Lebanon Ministers Meet Visa Over National Digital Payment Platform

Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.

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lebanon ministers meet visa over national digital payment platform

Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.

The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.

The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.

Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.

Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.

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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.

“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.

Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.

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