Iraq extends Lebanon fuel deal for 1 year/node/2140981/business-economy
Iraq extends Lebanon fuel deal for 1 year
With the government unable to provide fuel to public power plants, most homes in the country have been left without state-provided electricity for around 22 hours every day.
BEIRUT: Iraq’s government has agreed to continue supplying Lebanon’s electricity company with heavy fuel oil for another year, Lebanon’s caretaker prime minister said on Thursday, alleviating pressure on Lebanon’s struggling power grid.
Najib Mikati said he had made the request to Iraq’s Prime Minister Mustafa Al-Kadhemi, who agreed to extend the same terms of the agreement signed last year.
In July 2021, Iraq offered the cash-strapped Lebanese government 1 million tons of heavy fuel oil a year in exchange for services including healthcare for Iraqi citizens.
The deal was meant to alleviate Lebanon’s acute power shortage, which last summer reached crisis levels when the government was unable to subsidize fuel imports.
Lebanon subsequently removed those subsidies and domestic fuel prices skyrocketed. Russia’s invasion of Ukraine then further bumped up international prices this year.
With the government unable to provide fuel to public power plants, most homes in the country have been left without state-provided electricity for around 22 hours every day.
RIYADH: Saudia has launched a scheduled service to Bali with three weekly flights from Jeddah, marking the airline’s second regular destination in Indonesia after Jakarta.
The inaugural flight, SV856, departed from King Abdulaziz International Airport in Jeddah on March 31, operated by a Boeing B787 Dreamliner.
Saudia stated in a release that flight times have been coordinated to connect with its wider domestic and international network, as well as with services operated by members of the SkyTeam alliance.
The addition of Bali is part of a broader plan announced in February to introduce 11 new destinations in 2025, including Vienna, Venice, and Larnaca, as well as Athens, Heraklion, Nice, Malaga, and El-Alamein.
The expansion comes as the airline posted a 16 percent year-on-year increase in international passenger traffic in 2024 — growth that aligns with Saudi Arabia’s National Tourism Strategy, which targets 150 million visitors annually by 2030, and aims to create 1.6 million jobs.
Saudia is working to enhance its competitive position and international connectivity by adding both scheduled and seasonal destinations, the release stated.
The Bali route will be served by its Boeing B787 Dreamliner aircraft, which features advanced technologies, in-flight entertainment tailored for a wide range of passengers, spacious seating, and other onboard services.
Currently operating a fleet of 147 aircraft from Boeing and Airbus, Saudia plans to expand capacity and route coverage with the addition of 118 new planes.
As part of its 2025 network expansion strategy, Saudia also plans to add Antalya in Turkiye and Salalah in Oman, increasing its global footprint to over 100 destinations across four continents.
The move supports the Kingdom’s Air Connectivity Program, which has introduced more than 60 new direct routes since its launch in 2021.
With more than 530 daily flights, Saudia’s ongoing international development plan aims to increase its global market share and strengthen connectivity between Saudi Arabia and the world.
According to the General Authority of Civil Aviation, flight operations in the Kingdom reached approximately 905,000 in 2024, reflecting an 11 percent year-on-year increase.
This included 474,000 domestic flights and 431,000 international flights. Air connectivity expanded by 20 percent, linking Saudi Arabia to over 170 destinations worldwide.
Saudi winger Al-Saad eyes PSG upset in French Cup semifinal
The USL Dunkerque player spoke to Arab News about his time at Al-Ettifaq, the move to France and playing for his country
Updated 17 min 52 sec ago
MARK LOMAS
LONDON: Muhanad Al-Saad knows what it is like to make history. In February, he became the first player from Saudi Arabia to score in the French league when he headed in USL Dunkerque’s second goal in their Ligue 2 victory over Clermont Foot 63. It was a surreal moment for Al-Saad, one few — himself included — could have predicted.
Now Al-Saad faces another momentous occasion, as second-tier Dunkerque face the might of Paris Saint-Germain in the Coupe de France semifinals on Tuesday.
Al-Saad and his team-mates are aiming to become the first club outside Ligue 1 to reach the final since Les Herbiers in 2018; only once has the 107-year-old competition been won by a side from outside the top flight, and that was Le Havre back in 1959.
“It’s definitely a tough match,” Al-Saad told Arab News in an exclusive interview. “You’re talking about one of the biggest clubs in France and Europe. But we’re excited and confident — we’ll give it everything we have (to) try to secure a spot in the final and make history.”
It is the first time since 1929 that Dunkerque have reached the last four of the Coupe de France and a spot in the final would break new ground for the club.
The match has been moved from Dunkerque’s 5,000-capacity Stade Marcel-Tribut to Lille’s 50,000-seater Stade Pierre Mauroy. The “hosts” are targeting a major cup upset but PSG have already shown they will not cave to romantic footballing dreams; in the quarterfinals, Luis Enrique’s side thrashed fourth-tier Stade Briochin 7-0.
That 21-year-old Al-Saad will line up against the likes of Achraf Hakimi, Ousmane Dembele and Bradley Barcola is a remarkable turn of events. The Mecca-born winger initially played for the Al-Ahli academy but was released at the age of 15.
He was picked up by Al-Ettifaq much later — in 2023 — and found himself promoted to the first-team squad by then-coach Steven Gerrard.
“In my first session with Steven Gerrard, he asked why I hadn’t joined the pre-season camp,” Al-Saad recalled. “He told me, ‘From today, you’re with the first team.’ Everyone knows what a great player and leader he was at Liverpool.”
However, after featuring for just 30 minutes across five games during the 2023-24 campaign, Al-Saad reassessed his options and decided to embark on a new challenge at NEOM.
“I don’t know the exact reason for my limited playing time but during pre-season in Spain, my agent spoke to me about a good offer from NEOM and I decided to make the move,” he said.
Al-Saad became a regular for the team in the first half of the 2024-25 season, scoring five goals in 15 games as NEOM laid down a marker for promotion from the Saudi First Division.
“It was a short stint, but a very special one,” Al-Saad said. “I got the chance to play with high-level players like Ahmed Hegazi, Salman Al-Faraj, Romarinho and many others. It was a great experience, and we did our part as a team.”
Despite helping NEOM into pole position for promotion to the Saudi Pro League next season, Al-Saad — who also impressed with two goals in four games for the Saudi U-21s in 2024 — opted to leave the Kingdom in January.
Dunkerque, who have former Chelsea and Newcastle United striker Demba Ba as their sporting director, were in the midst of their own bid for top-flight promotion. Both Ba and Portuguese coach Luis Castro saw great potential in Al-Saad and swooped to sign him on loan.
“I’m not sure if there were other clubs involved, but Dunkerque showed real interest and made it clear they wanted me,” Al Saad said. “I was excited about the opportunity and eager to play in Ligue 2.
“I’m so proud to have become the first Saudi player to score in the French league. It was a great feeling and a moment of pride for me and my country.”
Al-Saad has started six of Dunkerque’s past seven games and the team currently lies fifth in the Ligue 2 table; the clubs finishing in third, fourth and fifth qualify for the Ligue 1 promotion play-offs.
While the young Saudi is fully focused on facing PSG in the Coupe de France on Tuesday, he also admits he has been thinking carefully about his future — and is keen to stay in France to further his development.
“Yes, I’m on loan, but I’m really enjoying the experience and feel that it’s helping me grow. If you ask me, I’d say yes - I’d love to stay. Playing abroad at this stage of my career is teaching me a lot.”
The lessons Al-Saad has already learned, coupled with his stellar performances for Dunkerque, were recognized in March when he received his first call-up to the Saudi Arabia national team.
Although he didn’t feature in either of the Green Falcons’ FIFA World Cup qualifiers against China and Japan, Al-Saad relished the experience of working with coach Herve Renard and hopes he will continue to feature in the squad.
“It was my first call-up to the senior national team, and I was very proud to represent my country,” Al-Saad said.
“My relationship with Hervé Renard was great — he spoke to me often and showed genuine interest in both the local and international players. He’s a strong personality and a top-level coach.”
London to host Saudi e-sports team Falcons Vega for women’s tournament Red Bull Instalock
World’s top talent in Valorant title to compete at London’s Red Bull Gaming Sphere on May 2-3
Reigning champions G2 Gozen will try to defend their title, with London locals GiantX GC returning to competition
Updated 22 min 39 sec ago
Arab News
LONDON: The four teams to compete at Red Bull Instalock, the professional women’s Valorant invitational tournament, have been revealed, with Saudi team Falcons Vega taking their place alongside reigning Red Bull Instalock champions G2 Gozen, FlyQuest RED, and GiantX GC at London’s Red Bull Gaming Sphere on May 2-3.
Inaugural Red Bull Instalock champions and German electronic sports team G2 Gozen will return to defend their title, alongside British team GiantX GC, who will try to win the tournament on home soil. Falcons Vega, winners of the 2024 Saudi Women’s eLeague Championship, will be making their Red Bull Instalock debut, joined by American e-sports team, FlyQuest RED.
Building on the success of its first tournament in 2024, Red Bull Instalock retains its unique format. Switching up the traditional Valorant team composition, teams will be required to select three duelists, the game’s offensive class guaranteeing intense plays, tactical expertise and clutch skills.
The tournament will be broadcast live from London’s premier gaming and e-sports venue in Shoreditch and will feature a creator exhibition match as part of the event.
E-sports organisation Fnatic, which became a Red Bull partnered team in January, will also be supporting Red Bull Instalock, hosting the Official Watch Party at its headquarters in Dalston, London on Saturday, May 3. In the collaboration with Fnatic the London-based e-sports organisation will develop exclusive merchandise to celebrate the event.
Ahead of the tournament, Red Bull player Michaela “Mimi” Lintrup, member of G2 Gozen and reigning Red Bull Instalock champion, said: “It’s great to see Red Bull Instalock back for another year as a huge moment for the Game Changers calendar. I can’t wait to return to London and to defend our title against some of the most amazing teams from around the world.”
Red Bull Instalock will be broadcast live on Red Bull’s Twitch and YouTube channels.
Health ministry in Gaza says 1,042 killed since Israel resumed strikes
After a ceasefire that lasted roughly two months, Israel relaunched its military campaign in Gaza on March 18
Updated 40 min 44 sec ago
AFP
GAZA CITY: The health ministry in Gaza said on Tuesday that 1,042 people have been killed in the Palestinian territory since Israel resumed large-scale strikes on March 18.
According to the ministry’s statement, the figure includes 41 people killed in the past 24 hours. It also reported that the overall death toll had reached 50,399 since the war began on October 7, 2023.
After a ceasefire that lasted roughly two months, Israel relaunched its military campaign in Gaza on March 18. Since then, bombardment and new ground assaults that have killed more than 1,000 Palestinians, according to Gaza’s Health Ministry. The ministry’s count does not distinguish between militants and civilians, but it says over half those killed are women and children.
Middle East airlines witness 3.3% passenger demand growth in February: IATA
Updated 56 min 14 sec ago
Nirmal Narayanan
RIYADH: Airlines operating in the Middle East recorded a 3.3 percent year-on-year increase in passenger demand in February, with total flight capacity rising 1.3 percent during the same period, an industry report showed.
The latest data from the International Air Transport Association revealed global passenger demand, both domestic and international, increased by 2.6 percent over the second month of the year.
This growth comes as many Middle Eastern countries focus on boosting the aviation sector to help diversify their economies away from oil dependency, with Saudi Arabia seeking to triple passenger numbers by 2030 compared to 2019 levels.
Commenting on the latest report, Willie Walsh, director general of IATA, said: “February traffic hit an all-time high, and the number of scheduled flights is set to continue increasing in March and April.”
The association added that the total load factor among carriers in the Middle East region stood at 82 percent in February, representing a rise of 1.6 percentage points compared to the same month in 2024.
The load factor is a metric used in the aviation sector that measures the percentage of available seating capacity that has been filled with passengers.
A high load factor signifies that an airline has sold most of its available seats.
IATA also reported that carriers in the Middle East handled 9.4 percent of global passengers in February, a figure that remained unchanged from January.
Earlier this month, a report by consulting management firm Oliver Wyman stated that the fleet of commercial airlines in the Middle East is expected to grow at a compound annual growth rate of 5.1 percent from 2025 to 2035, reaching 2,557 aircraft.
It added that this growth rate in the Middle East is nearly double the annual global growth rate, which is projected at 2.8 percent during the same period.
Affirming the progress of the aviation sector in the Middle East, Saudi Arabia is set to see its newest airline – the Public Investment Fund-backed Riyadh Air – take to the skies later this year, with the aim of flying to 100 countries by 2030.
In October, Riyadh Air signed an agreement to purchase 60 Airbus A321neo single-aisle aircraft.
In the same month, the company announced plans to order wide-body aircraft capable of seating more than 300 passengers in 2025.
Riyadh Air is set to begin passenger flights this year. Shutterstock
According to IATA, international passenger demand growth increased by 5.6 percent in February compared to the same period in the previous year.
However, international passenger demand growth was down compared to January, which witnessed a 12.3 percent rise.
The report added that global domestic demand declined by 1.9 percent year on year in February.
Africa witnessed a 6.8 percent rise in overall passenger demand, including both domestic and international, followed by Latin America at 4.6 percent, Europe at 4.3 percent, and Asia-Pacific at 4.2 percent.
Air carriers operating in North America experienced a 3.2 percent decline in passenger demand.
International passenger demand
Airlines operating in the Asia-Pacific region led international passenger demand globally, marking a 9.5 percent growth in February compared to the same month in 2024.
The total capacity of airlines in the APAC region rose by 8.3 percent year on year, while the load factor stood at 85.7 percent.
APAC airlines handled 33.5 percent of global passengers in February, followed by Europe at 26.7 percent and North America at 22.9 percent.
The report further indicated that international passenger demand among Middle East airlines increased by 3.1 percent in February compared to the same month in the previous year.
The association also noted that the capacity of airlines in the Middle East region increased by 1.3 percent, while the load factor stood at 81.9 percent in February, representing a rise of 1.4 percentage points compared to the same month in 2023.
According to IATA, international passenger demand among European air carriers rose by 5.7 percent year on year in February, while capacity increased by 4.9 percent during the same period.
North American air carriers saw a 1.5 percent decline in international passenger demand growth, with capacity also decreasing by 3.2 percent.
International passenger demand growth among Latin American airlines grew by 6.7 percent year on year in February, while capacity climbed by 9.9 percent.
African airlines saw demand growth of 6.7 percent among international travelers.
The capacity of these carriers also rose by 4 percent in February compared to the same month in 2024.
Air cargo demand growth
International cargo capacity increased slightly in February. Shutterstock
In a separate report, IATA revealed that air cargo demand declined slightly by 0.1 percent in February compared to the same period in the previous year, marking the first decline since mid-2023.
Overall, cargo capacity, measured in available cargo tonne-km, decreased marginally by 0.4 percent year on year in February.
The report added that international cargo capacity edged up by 1.1 percent over the month.
“February saw a small contraction in air cargo demand, the first year-on-year decline since mid-2023. Much of this is explained by February 2024 being extraordinary — a leap year that was also boosted by Chinese New Year traffic, sea lane closures, and a boom in e-commerce,” said Walsh.
He added: “Rising trade tensions are, of course, a concern for air cargo. With equity markets already showing their discomfort, we urge governments to focus on dialogue over tariffs.”
Airlines operating in the APAC region drove cargo demand growth in February.
According to IATA, cargo demand growth among APAC airlines increased by 5.1 percent year-on-year, while capacity rose by 2.7 percent during the same period.
Air carriers in the Middle East region witnessed an 11.9 percent year-on-year decrease in air cargo demand in February, the slowest among the regions.
The capacity of air carriers in the Middle East also decreased by 4 percent in February.
“North American carriers saw a 0.4 percent year-on-year decrease in demand growth for air cargo in February. Capacity decreased by 3.5 percent year-on-year,” said IATA.
The air cargo demand growth among European airlines dropped marginally by 0.1 percent in February compared to the same month in 2024, while capacity slightly edged down by 0.2 percent.
Air carriers operating in the Latin American region witnessed a 6 percent year on year cargo demand growth in February, the strongest rise among all regions. The capacity of these airlines also rose by 7.6 percent during the same period.
“African airlines saw a 5.7 percent year-on-year decrease in demand for air cargo in February. Capacity decreased by 0.6 percent year-on-year,” added IATA.
Looking at trade indicators, IATA said that the industrial production index rose 3.2 percent year-on-year in February, the highest growth in two years, while world trade expanded by 5 percent.
In February, the Purchasing Managers’ Index for global manufacturing output stood at 51.5, indicating growth.
The PMI for new export orders rose slightly to 49.6 from the previous month, remaining just shy of the 50-mark, which is the growth threshold.
The report added that jet fuel prices averaged $94.6 per barrel in February, representing a 2.1 percent decline compared to January.
