Kingdom executes $300bn worth of projects defying regional recession

The presentation organized by the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO) in Riyadh.
Updated 28 September 2016
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Kingdom executes $300bn worth of projects defying regional recession

RIYADH: Defying the global and regional trends of recession, Saudi Arabia is currently executing projects worth $300 billion, said Fahad Mohammed Al-Hammady, chairman of the National Committee for Contractors at the Council of Saudi Chambers (CSC).
The Saudi government is also supporting several projects, while it is reviewing a large number of projects also.
“Whatever the case may be, a better future for construction section is anticipated,” said Al-Hammady, while speaking at a presentation organized by the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO) in Riyadh.
The event was organized in cooperation with the CSC and the Germany’s Messe Munchen to introduce the world’s leading trade fair for architecture, materials and systems called ‘BAU Trade Fair’.
This trade fair, to be attended by a large number of Saudi exhibitors and visitors, will be held in the German city of Munich from Jan. 16 to 21.
A German delegation led by Mirko Arend, deputy director of Germany-based Messe Munchen and Oliver Oehms, Gesalo delegate, made the presentation.
Mark Pey, the newly-appointed general manager for Lufthansa, spoke about the airline’s services.
Referring to the current situation of the construction and contracting sector, Al-Hammady said that “the situation will become better in near future.”
Al-Hammady said that he looks forward for cooperation between the Kingdom and Germany in construction sector within the framework of the Saudi Vision 2030.
Despite the regional economic recession, the spending on projects are still continuing in the Gulf states including the Kingdom, he added.
In fact, the GCC’s construction community should expect that the construction business will bounce back in 2017.
This view has also been supported by Ben Hughes, director of capital projects at Deloitte Middle East, according to a report.
Hughes also noted that the region is tracking comparatively well with the relatively buoyant US economy.
“Clearly, there’s been a slowdown of project awards across the Gulf, and that’s a result of governments undertaking spending reviews,” Hughes has been quoted as saying.
In his presentation, Arend also spoke about the construction sector in his country, and made comparison between the Kingdom and Germany.

German BAU fair

Oehms, on his part, also gave details of the German BAU fair that will present “practice-oriented innovations and interdisciplinary solutions for commercial and residential construction and interior work for both new-buildings and renovation.”
Referring to Lufthansa operations on Saudi-German sector, Mark said: “Lufthansa German Airlines operates 24 weekly flights from Saudi Arabia providing a seamless connection between the key cities of the Kingdom and the airline’s hubs in Frankfurt and Munich.”
With these convenient connections, Lufthansa continues its long standing tradition of facilitating the closest of ties between the business communities of Germany and Saudi Arabia, he added.
Operating from Frankfurt and Munich, Europe’s most punctual hubs, Lufthansa offers business and leisure travelers from the Kingdom a global network with over 200 destinations in 76 countries.
Passengers from the Kingdom will find seamless connections throughout the Lufthansa network including those to the US and Canada with 20 destinations offered from Frankfurt, making Lufthansa the leader in linking the Middle East with the North Atlantic’s most important financial centers.


American Airlines ‘unaware’ of some Boeing 737 MAX functions until last week

Updated 15 November 2018
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American Airlines ‘unaware’ of some Boeing 737 MAX functions until last week

  • The FAA and Boeing are evaluating the need for software or design changes to 737 MAX jets
  • ‘Safety remains our top priority and is a core value for everyone at Boeing’

WASHINGTON: American Airlines Group Inc. said on Wednesday it was “unaware” of some functions of an anti-stall system on Boeing Co’s 737 MAX until last week.
Boeing and the US Federal Aviation Administration (FAA) issued guidance on the system last week after a Lion Air jet crashed in Indonesia on Oct. 29, killing all 189 people on board.
The FAA warned airlines last week that erroneous inputs from the system’s sensors could lead the jet to automatically pitch its nose down even when autopilot is turned off, making it difficult for pilots to control.
The system was designed to prevent the jet from stalling, according to information provided by Boeing to airlines.
“We value our partnership with Boeing, but were unaware of some of the functionality of the Maneuvering Characteristics Augmentation System (MCAS) installed on the MAX 8,” an American Airlines spokesman said.
“We must ensure that our pilots are fully trained on procedures and understand key systems on the aircraft they fly.”
Indonesian investigators said on Monday the situation the crew of a doomed Lion Air jet was believed to have faced was not contained in the aircraft’s flight manual. US pilot unions were also not aware of potential risks, pilot unions said.
The FAA and Boeing are evaluating the need for software or design changes to 737 MAX jets in the wake of the Lion Air crash, the regulator said on Tuesday.
The American Airlines spokesman said his airline was continuing to work with Boeing and the FAA and would keep pilots informed of any updates.
A Boeing spokeswoman said the manufacturer could not discuss specifics of an ongoing investigation but it had provided two updates for operators around the world that re-emphasize existing procedures to deal with situations relating to MCAS.
“We are confident in the safety of the 737 MAX,” she said. “Safety remains our top priority and is a core value for everyone at Boeing.”