Saudi signs US$3 billion deal with UK to buy trainer jets
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Wed May 23, 2012 12:18 pm

SAUDI ARABIA. Saudi's defence ministry has signed a US$3 billion deal with Britain to buy trainer jets for the kingdom's air force, SPA state news agency reported on Wednesday.

The deal also includes simulators, ground and training equipment and spare parts, SPA said, quoting a defence ministry official.

The official said the new jets would help qualify Saudi pilots "to use fourth generation jet fighters in full professionalism and efficiency."

Saudi Defence Minister Prince Salman bin Abdul Aziz in April visited Britain, a major supplier of weapons to the oil-rich kingdom.

Saudi Arabia in 2006 ordered 72 Eurofighter Typhoon fighters in a deal valued at $32.9 billion. The multi-role aircraft is built by a consortium of European firms in which Britain's BAE Systems has a 33-percent share.

The BBC said the deal is for Hawk jets from BAE Systems and will be formally announced later in the day.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 6, 2016
INTERNATIONAL. PMI: The high cost of low performance shows need for stronger worldwide implementation of project, program and portfolio management.
date:Posted: February 6, 2016
UAE. S&P expects Abu Dhabi's government balance will worsen further based on the ratings agency's updated oil price assumptions; However, the emirate's large net asset position will continue to give it a considerable buffer to support the economy; Continued structural and institutional weaknesses anticipated.
date:Posted: February 5, 2016
INTERNATIONAL. "Saudi regional leadership amounts to exploitation of a window of opportunity rather than reliance on the assets and power needed to sustain it. That window of opportunity exists as long as the obvious regional powers - Iran, Turkey and Egypt - are in various degrees of disrepair."
UAE. S&P expects Abu Dhabi's government balance will worsen further based on the ratings agency's updated oil price assumptions; However, the emirate's large net asset position will continue to give it a considerable buffer to support the economy; Continued structural and institutional weaknesses anticipated.
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