Milrem Robotics & MSI-Defence Systems Ltd unveil unmanned kinetic C-UAV capabilities

Milrem Robotics & MSI-Defence Systems Ltd unveil unmanned kinetic C-UAV capabilities
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Updated 13 September 2021

Milrem Robotics & MSI-Defence Systems Ltd unveil unmanned kinetic C-UAV capabilities

Milrem Robotics & MSI-Defence Systems Ltd unveil unmanned kinetic C-UAV capabilities
  • The unmanned C-UAS platforms will be exhibited at DSEI 2021 in London on 13-14 September
  • Will aid in countering mini-UAV, loitering munitions or other small difficult to detect airborne targets

 

MSI-Defence Systems Limited, the developer of weapon and underwater systems and the European robotics and autonomous system developer Milrem Robotics have joined forces to produce an unmanned kinetic C-UAV capabilities.


The unmanned C-UAS platforms will be exhibited at DSEI 2021 in London on 13-14 September.

They will aid in countering mini-UAV, loitering munitions or other small difficult to detect airborne targets and be capable of carrying payloads from 7.62 to 30 mm.

 It will also be able to find and engage larger air threats as well as ground targets, even if armoured. All without the operator being exposed to the threats.


“MSI-DSL and Milrem are committed to providing 'cutting edge' capabilities to the operator providing a highly deployable system with unique lethality and survivability. The autonomous nature of the system enables the operator to Sense, Identify, Decide and Effect over a wide area without placing the operator in areas of undue risk,” said Russell Gregory, Head of Strategy, Industrial Relations and Market Development at MSI-DSL.


Captain Jüri Pajuste, Defence Research and Development Director at Milrem Robotics, added that the use of drones and loitering munition has made low-level conflicts more lethal and these systems would counter these new threats, ultimately to reduce loss of life”.


Startup of the Week: Wafeer — helping Saudis spend wisely and save money

Startup of the Week: Wafeer — helping Saudis spend wisely and save money
Updated 27 November 2021

Startup of the Week: Wafeer — helping Saudis spend wisely and save money

Startup of the Week: Wafeer — helping Saudis spend wisely and save money

JEDDAH: Personal finance app Wafeer is the only service in Saudi Arabia that automatically tracks user’s spending patterns in a bid to help them stick to budgets.
The fintech company was founded by Salah Al-Bassam, Ahmad Ramadan and Abdulaziz Al-Jasser in 2019.
Each founder brings their own skills to the firm — Al-Bassam is an investment professional, Ramadan specialized in tech, while Al-Jasser is an engineer.
“We believe this was the formula that made Wafeer what it is right now, the broad and diverse experience that each founder brings to the table and of course our value add investors,” Al-Bassam told Arab News.
In March, Wafeer raised an undisclosed amount in a pre-seed funding round led by Nama Ventures, with participation from RAI group, WomenSpark, and several angel investors.
At the time, Nama Venture’s general partner Mohammed Alzubi said: “We first met the Wafeer team in August of 2020. The first thing that stood out for us was how complementary was the skillsets of the team, with real role clarity from the get go.”
Al-Bassam explains that its software automatically updates expenses that are paid through the app, rather than needing manual entry.
“Beyond tracking user’s expenses, Wafeer offers personalized advice using artificial intelligence helping users get notified before overspending and gives them recommendations that help cut spending or create wiggle room,” Al-Bassam said.
He added the Saudi Vision 2030 growth initiative highlights the importance of creating more awareness of spending, savings and investment through its Financial Sector Development Program.
Al-Bassam said: “It is one of the Vision's realization programs. This program has several goals, the most important of which are achieving financial diversity, stability, and promoting the culture of saving.
“Our goal at Wafeer is to play a role in achieving these objectives with the aim of answering this ongoing question that arises at the end of each month: What did I spend my salary on?”
Wafeer has 82,000 active users in its platform, who have notched up almost 1 million transactions.
The startup has partnered up with big companies in the region, such as online marketplace Noon and Saudi fast food app Hungerstation to provide special offers to customers.
Al-Bassam said: “We are proud of our partnerships, we have signed a number of strategic partnerships, most recently with Noon and Hungerstation to provide Wafeer users with exclusive discounts and offers that match their spending behavior.”
Wafeer currently only operates in the Kingdom, but has plans to extend its services to other Middle Eastern and North African countries.


Americans spent $14bn online during holiday season, says report

Americans spent $14bn online during holiday season, says report
Updated 27 November 2021

Americans spent $14bn online during holiday season, says report

Americans spent $14bn online during holiday season, says report
  • Cyber Monday predicted to be the biggest online shopping day of 2021

RIYADH: US consumers spent $14 billion online during Thanksgiving and Black Friday, according to data from Adobe Analytics, a wing of Adobe’s business that specializes in data insights and tracks transactions at 80 of the top 100 US retailers. 

Black Friday

The report said $8.9 billion were spent on Black Friday and $5.1 of online sales were reported on Thanksgiving. Sales on both occasions slid in 2021 as compared to the previous year.

Forbes quoted Taylor Schreiner, director of Adobe Digital Insights, as saying: “We are seeing that more purchasing was done earlier in the season as retailers put forth promotions as early as October prompting consumers to shop early.”

Many retailers closed physical stores on Thanksgiving this year, as they did in 2020, amid a labor shortage and the coronavirus pandemic. Stores reopened the day after Thanksgiving, and shopper visits increased by 47.5 percent compared to 2020, but fell by 28.3 percent when compared to 2019, the last pre-pandemic year, according to data from Sensormatic Solutions.

Supply chain challenges and shipping delays may have prompted shoppers to visit stores in order to increase the chances of securing gifts in time for Christmas. More are making purchases online that they can pick up in-store, which keeps shipping costs down.

Macy’s, Walmart, Target and Kohl’s , for example, gave shoppers the flexibility to shop online, in stores or through hybrid methods, walked away as winners on Black Friday, said Louis Navellier, chairman of investor Navellier & Associates.

Of those purchasing online, slightly more used their smartphones. Canadian e-commerce company Shopify said the number of shoppers on its platform who used smartphones to make purchases increased this year to 72 percent from 67 percent last year.

Retailers’ moves to encourage buying holiday gifts earlier could also lessen the importance of Cyber Monday, the first Monday after Thanksgiving.

BNPL

Buy-now-pay-later solutions like Sezzle, Afterpay, Plan It by American Express and PayPal’s Pay in 4 are growing in usage as consumers look for ways to manage their holiday budgets. BNPL revenue is up 422 percent in November and is over pre-pandemic levels (Nov 2019) for online purchases. 

Cyber Monday sales

Adobe is predicting that Cyber Monday will be the biggest online shopping day of 2021, with between $10.2 billion and $11.3 billion  in online spending. 


Bitcoin prices likely to double over the next 12 months

Bitcoin prices likely to double over the next 12 months
Updated 27 November 2021

Bitcoin prices likely to double over the next 12 months

Bitcoin prices likely to double over the next 12 months
  • Fall in largest digital currency is a ‘major buying opportunity’

RIYADH: The discovery of a new coronavirus variant, B.1.1.529, may have weighed on Bitcoin, the world’s largest digital currency, but financial experts expect its value to “double over the next 12 months.”

The fall in Bitcoin value should be seen as a major buying opportunity, said Nigel Green, chief executive and founder of deVere Group.

Bitcoin tumbled over 9 percent on Friday, dragging smaller tokens down.

Bitcoin hit an all-time high of $69,000 earlier this month as more large investors embraced cryptocurrencies, with many drawn to its purported inflation-resistant qualities.

Others have piled into the digital token on the promise of quick gains, a draw that has been heightened by record low or negative interest rates.

“The discovery of a new coronavirus variant has rattled global stock markets as it brings in a new wave of uncertainty,” said Green.

“The crypto markets have mirrored the reaction of other financial markets. This underscores how mainstream digital assets have now become, as an increasing number of institutional investors have piled into Bitcoin this year.

“But for this reason, when they temporarily reduce exposure to most risk-on assets, despite the longer-term outlook, they also do the same with Bitcoin. In turn, due to Bitcoin’s mammoth market share, it weighs down the entire crypto sector,” the head of the fintech organization said.

He continued: “However, I think this a knee-jerk reaction from the crypto market. It will move on from this relatively quickly as it did with the delta variant in the summer.”

Bitcoin is often referred to as “digital gold” because like the precious metal it is a medium of exchange, a unit of account, non-sovereign, decentralized, scarce, and a store of value.

“In addition, investors will once again focus on the heightening global inflation fears caused by lingering supply-side issues,” says the deVere CEO.

Bitcoin is widely regarded as a shield against inflation mainly because of its limited supply, which is not influenced by its price.

“This ‘inflation shield’ will continue to bring to the crypto market growing investment from major institutional investors, bringing with them capital, expertise and reputational pull – and further driving up prices.”

Echoing similar sentiments, Martha Reyes, head of research at digital asset prime brokerage and exchange BEQUANT, said: “The news of a new coronavirus variant coming out of South Africa led to a broad-based sell-off across asset classes.

“If lockdowns do ensue, which is not our base case scenario, that will lead to further helicopter money, which ultimately benefits digital assets.”

Ruud Feltkamp’s view supports the opinions of both experts. The CEO of cloud-based automated crypto trading bot Cryptohopper said: “Inflation is skyrocketing, and people are searching for more alternatives for their money on the bank. I don't think it'll take long until investors see this as a ‘cheap’ buying moment. We are still in the midst of the bull cycle, and I think rising inflation will lead to more money being allocated to stocks and crypto.”


Saudi women comprise 50% of flyadeal’s cabin crew as it doubles its fleet

Saudi women comprise 50% of flyadeal’s cabin crew as it doubles its fleet
Updated 27 November 2021

Saudi women comprise 50% of flyadeal’s cabin crew as it doubles its fleet

Saudi women comprise 50% of flyadeal’s cabin crew as it doubles its fleet
  • Kingdom’s budget airline vows to promote, nurture local talent

JEDDAH: Saudi Arabia’s budget airline flyadeal aims to nurture and promote local female talent as it's doubling its fleet by end of next year, its chief commercial officer told Arab News.
Ahmed Albrahim said the low-cost airline’s fleet contains 15 A320 narrowbodies, and it will continue to receive more aircraft of the A320 Neo class.
Albrahim expects the fleet to reach up to 30 aircraft by the end of 2022. 
The airline seeks to be the fastest-growing company in the region next year, he said.
He said that 50 percent of the airlines’ cabin crew consists of Saudi women and the number will continue to rise.
“We are very proud that we are creating jobs for our young Saudi talents, this year we recruited close to 130 females,” he said.
The airline seeks to empower Saudi women in the aviation industry, he added, saying: “We have the first chief people officer, which is a female, also the first female airport duty manager, and first female pilot.”
The low-cost airline launched its first direct flights from Jeddah to Dubai last week. The new route signaled the company’s first international journey from the airport.
A subsidiary of Saudia, flyadeal now operates six routes to the UAE daily — with the other five originating from Riyadh.
The aviation industry was worst hit by the coronavirus disease (COVID-19) pandemic. 
In a report recently issued by the International Air Transport Association, total airline industry losses from 2020 to 2022 are expected to reach $201 billion despite a post-pandemic improvement.
Net losses are expected to come in at $11.6 billion in 2022 after a $51.8 billion loss in 2021, IATA said in its latest outlook for airline industry financial performance, showing improved results amid the continuing COVID-19 crisis.
Demand is expected to stand at 40 percent of 2019 levels for 2021, rising to 61 percent in 2022.
Albrahim admitted that the last two years had been bad for the industry. Likening it to the 2008 global financial crisis, he said during that time “people lost their spending power.”
“Back in 2008 when the world witnessed the financial crisis, people lost their spending power,” he said, It was a very tough time for everybody including airlines.
However, he added, the COVID-19 has changed people’s behaviors due to social distancing measures and airlines have to work out different strategies to ensure a smooth recovery. Albrahim said people now want all operations carried out electronically or “touchless.”  
Albrahim said this is putting pressure on all airlines. However, the airline official expressed optimism that the industry will recover and the flyadeal will grow from a “lean startup” into a key aviation player.
“We were able to recover a lot because we are domestic airlines, and because we are one of the very few airlines in the region that follows the low-cost carrier,” Albrahim said.


Egypt, Israel sign memorandum on gas supplies for re-export

Egypt, Israel sign memorandum on gas supplies for re-export
Updated 27 November 2021

Egypt, Israel sign memorandum on gas supplies for re-export

Egypt, Israel sign memorandum on gas supplies for re-export
  • The MoU also considers the possibility of using the existing pipeline between the two countries to transport hydrogen in future.

CAIRO: Egypt and Israel have signed a memorandum of understanding to consider the possibility of increasing Israeli gas supplies to Egypt with the aim of re-exporting and using the pipeline between the two countries to transport hydrogen in the future.
Last year, Egypt and Israel announced the start of pumping Israeli gas to Egypt through the EastMed Gas Pipeline, with the purpose of liquefying it at Egyptian liquefaction stations and re-exporting it to Europe.
A statement issued by the Egyptian Ministry of Petroleum added that the agreement is part of efforts aimed at expanding the use of less polluting fuels to reduce greenhouse gas emissions in the region.
The MoU said that natural gas is a transitional fuel, as its use in the Eastern Mediterranean contributes to a significant reduction in emissions, especially after the sharp decline in the use of coal and petroleum in Egypt and Israel.
During the last few months, joint working groups from both countries held several meetings, during which a comprehensive review of the possibility of expanding natural gas supplies for re-export was conducted.
Tarek El Molla, Egyptian minister of petroleum and mineral resources, said that supporting joint cooperation in order to benefit from the natural resources in both countries is important.
Karine Elharrar, the Israeli minister of national infrastructures, energy and water resources, said Egypt is an important partner in achieving energy security in the region.