Latest news with #Vision2030
Argaam
2 hours ago
- Business
- Argaam
SAMA issues updated rules for issuance, operation of credit cards
The Saudi Central Bank (SAMA) issued the updated rules for the issuance and operation of credit cards. The updated rules aim to reduce costs for customers and enhance disclosure and transparency related to credit card transactions. They also seek to keep pace with ongoing developments and align with the growing variety of credit card products in line with global best practices. The rules include detailed provisions on the issuance and operation of credit cards and increased clarity regarding financial transactions related to the cards. This is in addition to increasing financial awareness among customers, as well as creating innovation-friendly regulatory environment in the financial sector. SAMA also coordinated with global payment companies to review and reduce the costs associated with credit card transactions. This move is part of SAMA's broader efforts to develop and strengthen the digital payments ecosystem and offer diverse payment solutions to both residents and visitors in retail outlets across the Kingdom, in line with Vision 2030.
Broadcast Pro
4 hours ago
- Business
- Broadcast Pro
ST Engineering iDirect and solutions by stc to advance satcom services in KSA
Under this deal, solutions by stc has significantly expanded its ST Engineering iDirect ground network by incorporating advanced products designed for both fixed and mobile applications. ST Engineering iDirect has entered a strategic partnership with solutions by stc to enhance satellite communication services across Saudi Arabia, in alignment with the Kingdoms Vision 2030. The collaboration aims to accelerate the nations digital transformation by leveraging local satellite assets to deliver secure, resilient, and adaptable connectivity across a wide range of sectors. As part of this initiative, solutions by stc has significantly upgraded its ST Engineering iDirect ground infrastructure, integrating advanced technologies to support both fixed and mobile applications. These improvements will enable the delivery of reliable and scalable satellite connectivity to key customers, including government agencies, enterprises, and telecom operators. With software-upgradable solutions at its core, the network is well-positioned to evolve alongside Saudi Arabias rapidly expanding digital landscape. The Kingdoms digital economy is on a fast growth trajectory, expected to increase from $55.15bn in 2025 to $90.25bn by 2030. This partnership enhances solutions by stcs capacity to meet growing demand for high-speed, cost-efficient communications and strengthens its role in supporting Saudi Arabias ambitious development goals. Commenting on the collaboration, Don Claussen, CEO at ST Engineering iDirect, said: 'This collaboration with solutions by stc is a testament to our shared vision of delivering advanced connectivity solutions that empower digital transformation across the Kingdom. We are honored to contribute to Saudi Arabias efforts in building a robust, future-ready connectivity framework.' By combining local expertise with cutting-edge satellite technology, the partnership marks a major step forward in expanding the Kingdoms digital infrastructure and fulfilling the connectivity needs of its Vision 2030 agenda.
Khaleej Times
7 hours ago
- Automotive
- Khaleej Times
Dubai is Quietly Building the Future of the Automotive Industry
When I first arrived in Dubai in 2008, the city was a place of bold contrasts. It was grappling with the fallout of the global financial crisis, yet there remained a quiet, determined confidence in its future. Even then, you could sense that Dubai wouldn't just recover — it would reimagine what recovery looked like. Today, that prediction has come true. Dubai has transformed into one of the world's most dynamic testbeds for mobility innovation. What was once a market focused on car ownership is now a launchpad for pioneering ideas in sustainability, digitalisation, and smart transport. This evolution isn't incidental — it's intentional, enabled by a city that's wired for vision and progress. Dubai's geographic location has long made it a global gateway. But what truly sets the city apart is its mindset: an unwavering belief in building the future before others dare to imagine it. The Roads and Transport Authority's plan to introduce air taxis by 2026 is a case in point. What may sound like science fiction elsewhere is already moving into operational planning here, converting a 45-minute commute into a 12-minute airborne journey. Beneath these headlines is a deeper reality: a regulatory and business ecosystem that supports ambition. Programmes like the Dubai Economic Agenda D33 and Vision 2030 aren't just slogans; they are action plans that prioritize diversification, sustainability, and the seamless integration of technology into everyday life. For the automotive sector, this means Dubai offers something rare — a real-world lab where electric, hydrogen, and autonomous mobility solutions can be trialled, refined, and scaled with minimal red tape. At AGMC, we've experienced this transformation firsthand. As the official importer for BMW, MINI, and Rolls-Royce in the region, we've seen electric vehicle (EV) adoption gain strong momentum — thanks to a blend of consumer enthusiasm, progressive regulation, and business commitment. Today, more than 47,000 green vehicles are registered in the emirate, with fully electric cars making up the majority. Still, the path forward has its challenges. EV infrastructure remains a work in progress. While many villa residents enjoy home charging, the next wave of growth depends on scaling solutions for apartments and urban clusters. The public sector is expanding its charging network, but accelerating adoption will require coordinated efforts across government, utility providers, automakers, and real estate developers. There are also questions around EV residual value. As the market matures, the secondary resale ecosystem will need time — and data — to develop. But Dubai's unique mix of early adopters and tech-forward consumers means we're generating insights faster than many more established markets. What inspires me most, though, is the human story behind the innovation. Dubai is a global talent magnet, bringing together engineers, designers, software developers, and strategists from across continents. It is this cross-pollination of perspectives that fuels meaningful progress — not just in what we build, but how we build it. From hydrogen-powered fleets to connected mobility ecosystems and AI-optimised traffic flows, the future of transport is not on the horizon — it's already taking shape. And while flying cars may remain in the realm of fantasy, Dubai's air taxis suggest we're closer than we think. Ultimately, Dubai teaches us a vital lesson: the future doesn't just arrive — it is built, deliberately and ambitiously. And there are few places in the world where that drive to build is more evident, or more effective, than here.
Arabian Business
7 hours ago
- Automotive
- Arabian Business
Saudi Arabia introduces major new road code
Saudi Arabia's Roads General Authority (RGA) has unveiled the Saudi Road Code, a unified system for classifying roads across the Kingdom. The initiative aims to boost road safety, improve urban mobility, and ensure infrastructure readiness for future technologies, including autonomous vehicles. The newly issued code is part of the Kingdom's broader efforts to enhance quality of life and modernize its transport network as outlined in Vision 2030. Saudi Road Code roadways key types Highways: High-speed routes with full access control, no direct intersections, and no traffic signals—connecting cities and governorates Arterial Roads: Major roads within cities designed to handle high traffic volumes, equipped with controlled intersections and signals Collector Roads: Connect residential areas to main arterial routes, channelling local traffic efficiently Local Roads: Low-speed roads serving neighbourhoods and commercial areas with light traffic and an emphasis on safety The RGA described the code as a comprehensive technical reference for all government entities involved in planning, building, operating, and maintaining roads. This includes ministries, municipalities, city development authorities, and governorates. In addition to defining road categories, the code provides detailed technical guidance, including: Planning and design protocols Operational and maintenance procedures Environmental considerations Safety and sustainability standards Compatibility with autonomous vehicle infrastructure Technical drawings, checklists, and performance benchmarks By implementing this unified standard, Saudi Arabia is taking a significant step toward creating a safer, more efficient, and future-ready road network, aligned with its national development goals.
The Market Online
9 hours ago
- Business
- The Market Online
Bombardier kicks off milestone delivery to Saudi Arabia
Bombardier (TSX:BBD.A) began deliveries of three Challenger 3500 aircraft to airline company Aloula Aviation in Saudi Arabia, marking the model's first registration in the Middle Eastern country Bombardier designs, builds, modifies and maintains a line of jets for individuals, businesses, governments and militaries around the world Bombardier stock has added 23.21 per cent year-over-year and 556.25 per cent since 2020 Bombardier (TSX:BBD.A) began deliveries of three Challenger 3500 aircraft to airline company Aloula Aviation in Saudi Arabia, marking the model's first registration in the Middle Eastern country. The Challenger 3500 offers a maximum range of 6,297 kilometres and a maximum speed of 882 km/h, allowing it to complete non-stop flights from Saudi Arabia to Paris, Geneva and New Delhi. Passengers also benefit from industry-leading reliability and the widest cabin in the super midsize class, 'making it a judicious addition to Aloula Aviation's fleet,' according to Thursday's news release. Khalid Hassan Alnatour, CEO of Aloula Aviation, and Éric Martel, president and CEO of Bombardier. (Source: Bombardier) Aloula, established in 1934, is Saudi Arabia's first aviation company and the second in the Middle East. The company operates more than 60 aircraft across a variety of industries, serving 18 airports throughout Saudi Arabia – nine of which Aloula fully operates – in addition to more than 300 helipads, both on and offshore. The delivery follows S&P Global's upgrade to Bombardier's credit rating and a new speed record for the jet maker's Global 7500 aircraft, both announced earlier this week. Leadership insights 'The business jet market in the Middle East is thriving and we are witnessing a significant increase in demand for super midsize aircraft, particularly for travel within the region and to Europe,' Éric Martel, Bombardier's president and chief executive officer (CEO), said in a statement. 'As the undisputed market leader in this segment, the Challenger 3500 is perfectly positioned to meet the needs of clients such as Aloula Aviation, as well as our growing client base in Saudi Arabia and the broader Middle East. Bombardier and Aloula Aviation both share an unwavering commitment to excellence, and the Challenger 3500 will surpass their expectations on every front. As Saudi Arabia continues its bold path laid out in the Vision 2030 plan, we are proud to support Aloula Aviation with this significant addition to their fleet and the region's growing aviation hub.' 'The Challenger 3500 aircraft represents the pinnacle of innovation, comfort and performance, perfectly aligning with our commitment to provide the best travel experience,' added Khalid Hassan Alnatour, CEO of Aloula Aviation. 'As we begin the delivery of the three Challenger 3500 aircraft that will join our fleet, we look forward to the many opportunities these jets will bring to our operations.' About Bombardier Bombardier designs, builds, modifies and maintains a line of jets for individuals, businesses, governments and militaries around the world. Its customers operate a fleet of more than 5,100 aircraft supported by 10 service facilities across six countries. The company operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. Bombardier stock (TSX:BBD.A) last traded at C$106.64. The stock has added 23.21 per cent year-over-year and 556.25 per cent since 2020. Join the discussion: Find out what everybody's saying about this private jet company's first aircraft registration in Saudi Arabia on the Bombardier Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
