Saudi livestock firm SALIC in Dh5 billion joint venture with UAE’s Al Dahra

SALIC last week said it was considering investing in a Russian grain producer owned by Russian conglomerate. (Courtesy SALIC)
Updated 11 October 2017

Saudi livestock firm SALIC in Dh5 billion joint venture with UAE’s Al Dahra

ABU DHABI: The Saudi Agriculture and Livestock Investment Company (SALIC) is establishing a Dh5-billion joint venture with UAE agricultural firm Al Dahra to invest in the Black Sea region, the Saudi livestock firm’s chief executive said.
The joint venture will invest across 10 countries in the Black Sea and will be made via acquisitions in grains and livestock, Abdullah Aldubaikhi said during a UAE-Saudi business forum in the UAE capital on Tuesday.
“It is part of the food security strategy,” Aldubaikhi said.
Al Dahra, owned mainly by Abu Dhabi investors, partners with the UAE government for its food security program. SALIC said investments would include Russia, Ukraine, Romania, Belarus, Hungary and Bulgaria.
“Investing in agriculture abroad is very important for Saudi Arabia to compensate for the grains not being produced locally, we are part and parcel of this strategy,” Aldubaikhi said.
The announcement comes days after King Salman of Saudi Arabia met Russian President Vladimir Putin in Moscow, agreeing joint investment deals worth several billion dollars.
SALIC last week said it was considering investing in a Russian grain producer owned by Russian conglomerate Sistema and members of the Louis-Dreyfus family.


Turkish Airlines may delay delivery of Airbus, Boeing planes

Updated 27 May 2020

Turkish Airlines may delay delivery of Airbus, Boeing planes

  • The carrier plans to begin some domestic flights on June 4 and international on June 10
  • Airlines chairman said the impact of the coronavirus on market could last up to five years

ISTANBUL: Turkish Airlines, which halted nearly all of its passenger flights as a result of the coronavirus crisis, may delay the delivery of some Boeing and Airbus planes, its chairman was quoted as saying on Wednesday.
The carrier plans to begin some domestic flights on June 4 and some international flights on June 10 as airlines worldwide try to get planes flying again after a global travel slump.
But Turkish Airlines chairman Ilker Ayci said in an interview with Turkey’s Hurriyet newspaper that the impact of the coronavirus could last up to five years and that it would take a while to reach 2019 load factor levels.
Turkish Airlines had received half of its order for 25 Boeing 787-9 planes, he said, adding that the delivery of the rest could be delayed.
The airline is in talks to take delivery of Airbus 350-900s that are ready from an order of 25, and that it was working to delay the delivery of the rest, he said.
“We are trying to lighten the serious loads that could arise. We are getting our narrow-body planes.”
Ayci said Turkish Airlines would no longer offer free in-flight food and drinks on domestic flights and other flights shorter than two hours.
He also repeated that the company would try to maintain employment, but that salaries would have to be adjusted, with the aim of supporting those paid the least.