Italy’s Fincantieri launches Saudi shipbuilding unit to strengthen collaboration 

Italy’s Fincantieri launches Saudi shipbuilding unit to strengthen collaboration 
Fincantieri Arabia will highlight the group’s wide-ranging capabilities in shipbuilding, maritime equipment and systems. Fincantieri
Short Url
Updated 25 May 2024
Follow

Italy’s Fincantieri launches Saudi shipbuilding unit to strengthen collaboration 

Italy’s Fincantieri launches Saudi shipbuilding unit to strengthen collaboration 

RIYADH: Italian shipbuilder Fincantieri plans to enhance collaboration with Saudi Arabia through a newly established unit, the company said. 

Fincantieri Arabia will bolster the Kingdom’s Vision 2030 development agenda in the cruise, defense, and offshore sectors, the group disclosed in a press release, issued on the sidelines of an industrial conference in Riyadh. 

Fincantieri is the only shipbuilding group active in all high-tech marine industry sectors, the release added. 

The new unit aims to highlight the group’s wide-ranging capabilities in shipbuilding, maritime equipment and systems, and naval logistic support services, including training and simulation.  

It will also manage stakeholder relationships in the Kingdom and seek out local partners.  

Moreover, Fincantieri said it plans to share its technological expertise in shipbuilding across cruise, defense, and offshore sectors, thus opening up opportunities for Saudi nationals. 

The firm’s CEO Pierroberto Folgiero: “Our commitment to the Kingdom of Saudi Arabia is steadfast. Fincantieri stands out in the shipbuilding industry for its vertically integrated model and our leadership across naval, cruise, and oil and gas sectors. We are proud to offer these world-class capabilities built on decades of naval heritage and excellence to help the Kingdom achieve its Vision 2030 objectives.”  

He added: “Given the maritime industry’s pivotal role under Vision 2030, we eagerly anticipate establishing strategic partnerships. Through these collaborations, we aim to enhance local technological capabilities, create opportunities for Saudi talent, and foster knowledge exchange.” 

The state-controlled Fincantieri has expanded its presence in the Middle East in recent years. In March 2023, Folgiero stated that the group would venture into the Saudi market and was strategically positioned for growth in the region. 

The Italian group is also aiming to enhance its focus on defense, a sector that presently contributes to around a quarter of its revenues. 

On May 20, Fincantieri concluded a shipbuilding joint venture, named Maestral, with Abu Dhabi-based EDGE Group. The two entities announced the signing of a €400 million ($433 million) contract with the UAE’s Coast Guard Forces for the supply of 10 advanced 51-meter offshore patrol vessels. 


Man City hope for Rodri return this season by listing Ballon d’Or winner in Champions League squad

Man City hope for Rodri return this season by listing Ballon d’Or winner in Champions League squad
Updated 2 min 53 sec ago
Follow

Man City hope for Rodri return this season by listing Ballon d’Or winner in Champions League squad

Man City hope for Rodri return this season by listing Ballon d’Or winner in Champions League squad
  • Rodri has set a target of about April to return to play
  • The Champions League quarterfinals start April 8

MANCHESTER: Manchester City showed faith in Rodri potentially returning to action this season by registering the injured Ballon d’Or winner on Friday in their Champions League squad for the knockout phase.
UEFA set a midnight Thursday deadline to submit updated squad lists for European competitions. With a limit of three new signings in the midseason transfer window allowed, City left out teenage defender Vitor Reis who joined from Palmeiras last month.


Rodri has set a target of about April – “six to seven months” after tearing the ACL in his right knee against Arsenal on Sept. 22 – to return to play. The Champions League quarterfinals start April 8.
The English champion have a daunting task to stay in the competition until then without star midfielder Rodri, who scored the winning goal in the 2023 final against Inter Milan.
Man City face Real Madrid in a two-leg knockout playoff, next Tuesday and on Feb. 19. The winner will play either Atletico Madrid or Bayer Leverkusen in the round of 16.
New signings who are included in coach Pep Guardiola’s squad for the Champions League are midfielder Nico Gonzalez — who can stand in for Rodri — forward Omar Marmoush, and defender Abdukodir Khusanov.


Greek PM insists no danger from Santorini quake swarm

Greek PM insists no danger from Santorini quake swarm
Updated 12 min 45 sec ago
Follow

Greek PM insists no danger from Santorini quake swarm

Greek PM insists no danger from Santorini quake swarm
  • The activity has baffled scientists, who say that the region has not experienced seismic activity on this scale since records began in 1964
  • The seismology laboratory of Athens University on Friday said over 7,700 tremors had been recorded since Jan. 26

ATHENS: Greek Prime Minister Kyriakos Mitsotakis insisted Friday there was no “immediate danger” from an unprecedented wave of quakes on the tourist island of Santorini that has forced thousands of residents to leave.
The state was “fully deployed not because we believe... that something disastrous is going to happen, but because we must be ready for any eventuality,” Mitsotakis said during a meeting on the island with local officials.
Santorini — which is part of a spectacular volcanic caldera — and the neighboring Aegean Sea islands of Amorgos, Ios and Anafi have been hit by hundreds of tremors since the weekend.
The activity has baffled scientists, who say that the region has not experienced seismic activity on this scale since records began in 1964.
The seismology laboratory of Athens University on Friday said over 7,700 tremors had been recorded since Jan. 26.
One of the experts advising the government on the phenomenon, seismologist Costas Papazachos, told the Kathimerini daily Friday that the activity “will continue for two to three weeks” based on the latest data.
The barrage was weaker Friday, but was still punctuated by a 4.8-magnitude tremor. The strongest was a 5.2-magnitude quake on Thursday.
No injuries or damage have been reported.
Over 11,000 residents and seasonal workers have left Santorini since the weekend by sea and air, with operators adding extra flights and ferries.
Schools on more than a dozen islands in the Cyclades island group in the Aegean Sea were shut this week as a precaution, prompting many people with children to leave Santorini until the quake scare eases.
Santorini lies atop a volcano which last erupted in 1950.
Mitsotakis on Friday said that volcanic activity in the area was “not unusual” and did not entail any “immediate, particular danger.”
“We hope this sequence will dissipate without producing a major earthquake,” Mitsotakis said.
One of Greece’s top travel destinations, Santorini attracted about 3.4 million visitors in 2023. Upwards of a million of those were cruise ship passengers.


Bangladesh asks India to stop former PM Hasina from making ‘false statements’

Bangladesh asks India to stop former PM Hasina from making ‘false statements’
Updated 30 min 49 sec ago
Follow

Bangladesh asks India to stop former PM Hasina from making ‘false statements’

Bangladesh asks India to stop former PM Hasina from making ‘false statements’
  • Hasina, who fled to India last year after losing power, accused rivals of taking over unconstitutionally
  • People targeted her late father’s residence as she spoke, making India call it an ‘act of vandalism’

DHAKA: Bangladesh has asked India to stop ousted former Prime Minister Sheikh Hasina from making “false and fabricated” comments while she is in the country, its foreign ministry said.
Hasina fled to India in August following violent protests that killed more than 1,000 people.
In an online address on Wednesday, she called on her supporters to stand against the interim government in Bangladesh, accusing it of seizing power unconstitutionally.
Thousands of protesters trying to disrupt Hasina’s address had demolished and set fire to the home of Mujibur Rahman, her father and Bangladesh’s founding leader. The violence continued after Hasina spoke.
Bangladesh’s foreign ministry handed over a protest note to India’s acting high commissioner in Dhaka, conveying “deep concern, disappointment and serious reservation” over her comments, it said on its Facebook page.
“The ministry ... requested ... India to immediately take appropriate measures, in the spirit of mutual respect and understanding, to stop her from making such false, fabricated and incendiary statements,” it said.
Hasina could not be contacted for comment.
Although India did not comment on the communication from Bangladesh, Foreign Ministry Spokesperson Randhir Jaiswal condemned the destruction of Rahman’s home as an “act of vandalism.”
“All those who value the freedom struggle that nurtured Bangla identity and pride are aware of the importance of this residence for the national consciousness of Bangladesh,” he said.
It was in the same house that Rahman declared Bangladesh’s independence from Pakistan in 1971, and he and most of his family were assassinated within its walls in 1975.
Hasina transformed the building into a museum dedicated to her father’s legacy.
The interim government’s chief adviser, Nobel Peace Prize winner Muhammad Yunus, appealed to people on Friday to restore law and order and ensure there were no more attacks on properties linked to Hasina’s family or politicians from her Awami League party.
“Any attacks to their properties gives them an excuse to draw international attention to themselves and dish out their fabricated stories ... Any deterioration of law and order will give a wrong message to the world,” he said.
Bangladesh has been grappling with political strife since Hasina was ousted, with the interim government struggling to maintain law and order amid continuing unrest.
India and Bangladesh, which share a 4,000 kilometer (2,500 miles) border, have longstanding cultural and business ties.
India also played a key role in the 1971 war with Pakistan that led to the creation of Bangladesh.


Pakistan’s LNG deal with Qatar open to renegotiation next year

Pakistan’s LNG deal with Qatar open to renegotiation next year
Updated 35 min 34 sec ago
Follow

Pakistan’s LNG deal with Qatar open to renegotiation next year

Pakistan’s LNG deal with Qatar open to renegotiation next year
  • Country’s petroleum minister previously described the deal as ‘costly,’ expressing interest in revisiting it
  • He says no renegotiation decision has been made, though Pakistan has a whole year to figure out options

KARACHI: Pakistan’s liquefied natural gas (LNG) pact with Qatar allows for either party to initiate renegotiation talks next year but no decision has been taken on whether to do this, Pakistan's petroleum minister told Reuters on Friday.
Musadik Malik was clarifying comments made to a parliamentary committee on energy, as reported in local newspaper The News, which had quoted him as saying: “The Qatar agreement is costly, and we will negotiate better terms next year.”
Malik told Reuters he had been laying out details of the various contracts Pakistan has for LNG. “One provision was price renegotiation could take place at the 10th year of the Qatar LNG deal,” he said, adding that Pakistan has a whole year to “figure out its options.”
Pakistan’s biggest LNG agreement was signed in 2016 between Pakistan State Oil and Qatar's Qatargas-2, the world’s largest producer, for up to 3.75 million tons of LNG a year for 15 years, although a cancellation option can shorten the deal to 11 years if the parties fail to agree a new price.
An economic crisis has slashed power use in Pakistan, which gets more than a third of its electricity from natural gas, saddling it with excess capacity it still needs to pay for under decade-old contracts with independent power producers.
Citing a surplus of LNG, Malik said in December that Pakistan had deferred five contracted cargoes under the Qatar deal for a year and would now receive them in 2026 instead of 2025, with no financial penalty.
He added that Pakistan was also negotiating to defer five more cargoes from other unnamed sellers.


Saudi Arabia makes debut at Asian Winter Games as 9th edition begins

Saudi Arabia makes debut at Asian Winter Games as 9th edition begins
Updated 07 February 2025
Follow

Saudi Arabia makes debut at Asian Winter Games as 9th edition begins

Saudi Arabia makes debut at Asian Winter Games as 9th edition begins
  • The event marks a milestone for Saudi Arabia, which is making its debut at the multi-sport competition as it gears up to host the 2029 Games

HARBIN, China: The 9th Asian Winter Games opened on Friday in Harbin, China, with a ceremony led by Chinese President Xi Jinping.

The event marks a milestone for Saudi Arabia, which is making its debut at the multi-sport competition as it gears up to host the 2029 Games. The Saudi Winter Sports Federation, originally established in 2019, was restructured in 2022 into two separate governing bodies: the Saudi Ice Sports Federation and the Saudi Snow Sports Federation.

The Kingdom’s delegation at the games is headed by Prince Fahd bin Jalawi bin Abdulaziz bin Musaed, vice president of the Saudi Olympic and Paralympic Committee and Member of the Executive Office of the Olympic Council of Asia.

The event runs until Feb. 18 and will feature around 1,500 athletes from 34 Asian countries. Among the Saudi participants, the Kingdom’s curling team is set to compete in five matches from Feb. 9 to 12 — facing off against teams from Qatar, China, Hong Kong, Japan, and Thailand — while three Saudi alpine skiers will compete in the slalom events: Fayik Abdi in the men’s, and Sharifa Al-Sudairi and Farhoud Joud in the women’s.

As the Kingdom continues to expand its sporting ambitions, its participation in the Asian Winter Games “represents another step in its broader vision to develop a competitive winter sports ecosystem on the international stage,” the Saudi Press Agency reported.