Cruise Saudi teams up with Columbia blue to elevate AROYA Cruises offering 

Cruise Saudi teams up with Columbia blue to elevate AROYA Cruises offering 
The partnership aligns with Cruise Saudi’s vision to offer a unique Arabian cruise experience. (Supplied)
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Updated 25 August 2023
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Cruise Saudi teams up with Columbia blue to elevate AROYA Cruises offering 

Cruise Saudi teams up with Columbia blue to elevate AROYA Cruises offering 

RIYADH: Cruise Saudi, a wholly-owned venture of the Public Investment Fund, has unveiled a strategic partnership with the leisure services platform, Columbia blue, for the development of its much-anticipated premium cruise line, AROYA Cruises. 

In a significant move, Cruise Saudi has selected Columbia blue, one of the leading players in the ship management industry, as its designated ship manager for AROYA Cruises. 

The platform specializes in cruise and expedition passenger vessel management and boasts a large portfolio featuring some of the globe’s most distinguished brands. 

Under this partnership, Columbia blue will be responsible for AROYA Cruises’ hotel management operations, covering critical areas such as guest relations, housekeeping, crew management and food and beverage. Additionally, the platform will take charge of deck and engine management, ensuring the vessel’s smooth operation and passenger safety. 

Talking about the collaboration, Cruise Saudi’s CEO, Lars Clasen, emphasized the significance of this partnership in delivering a unique voyage for AROYA Cruises passengers.  

“Columbia blue is a leader in the ship management industry and an instrumental organization for AROYA Cruises to work with. This strategic partnership is crucial in ensuring that AROYA Cruises passengers have the best possible experience on-board,” he said. 

The partnership aligns with Cruise Saudi’s vision to offer a unique Arabian cruise experience. 

Columbia blue’s CEO, Norman Schmiedl, expressed pride in contributing to crafting an authentically Arabian experience for AROYA Cruises guests.  

He added: “We are extremely proud to be helping AROYA Cruises deliver a remarkably Arabian experience to their guests. We are deploying all of our 40 years of experience in cruise ship management to deliver safe, efficient and sustainable standards to AROYA Cruises.” 

Announced in June 2023, AROYA Cruises is set to be the Kingdom’s upscale maritime venture, designed to cater to the preferences of Saudi nationals, expatriates, and regional visitors. 

The partnership with Columbia blue underscores Cruise Saudi’s broader mission to generate 50,000 employment opportunities within Saudi Arabia and welcome an estimated 1.3 million cruise passengers annually by the year 2035.  

Earlier this week, Cruise Saudi and the Royal Commission for Jubail and Yanbu inked a memorandum of understanding to unlock the tourism potential of the Kingdom's unexplored southern region. 

This strategic partnership aims to position the southern region as a captivating destination for tourists, fostering growth in tourism and contributing to the region’s economic advancement.   


CBUAE and Bank Indonesia ink deal to expand joint cooperation 

CBUAE and Bank Indonesia ink deal to expand joint cooperation 
Updated 8 sec ago
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CBUAE and Bank Indonesia ink deal to expand joint cooperation 

CBUAE and Bank Indonesia ink deal to expand joint cooperation 

RIYADH: The central banks of the UAE and Indonesia have inked a comprehensive deal which will intensify collaboration across key areas such as monetary and macro-prudential policy, financial stability, and payment systems. 

The signed memorandum of understanding between the Central Bank of the UAE and Bank Indonesia signifies the extension of an already established cooperation framework between the two entities.  

The deal aims to strengthen their relationship, elevate information exchange, and foster collaboration across various areas, according to a press statement.

The agreement was signed by Khaled Mohamed Balama, governor of CBUAE, and Perry Warjiyo, governor of Bank Indonesia. 

Balama said: “The MoU with our Indonesian counterparts constitutes a strong basis for consolidating relations and strengthening the future partnership between both parties and contributes to opening the way for more joint regulatory cooperation to foster business opportunities in technology, innovation and digital.”

Under the deal, both central banks will also collaborate to enhance cooperation in digital financial innovation, Islamic finance, and technical capacity building. 

He added: “We are confident that through this cooperation, a favorable environment for business growth, trade and investment partnership, will be established and leads to sustainable growth in the two friendly countries.”

Furthermore, the press statement added that CBUAE and Bank Indonesia will collaborate on the development of a regulatory framework addressing anti-money laundering and countering the financing of terrorism, showcasing their commitment to fostering a secure and compliant financial environment. 

The trade and economic relationship between the UAE and Indonesia has witnessed a significant boost with the implementation of a free trade pact on Sept. 1, 2023. 

The Indonesia-UAE Comprehensive Economic Partnership Agreement, signed in July of the previous year, marks Jakarta’s first such agreement with a Gulf country and Abu Dhabi’s inaugural pact with a Southeast Asian nation. 

This agreement eliminates about 99 percent of existing tariffs and establishes mutual recognition of each country’s halal certification, further solidifying economic ties between the two nations.

“With the reduction of tariff or zero tariffs, Indonesia could strengthen exports. I believe once exports increase, it will attract more investment,” Husin Bagis, Indonesia’s ambassador to the UAE, told Arab News in September.  

Furthermore, the value of bilateral trade between the UAE and Indonesia surged to around $5 billion in 2022, as per data from the Indonesian Trade Ministry. This represents an increase of around 20 percent compared to the previous year, when it amounted to $4 billion.


UAE’s Masdar to develop 1GW wind project in Jordan 

UAE’s Masdar to develop 1GW wind project in Jordan 
Updated 5 min 21 sec ago
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UAE’s Masdar to develop 1GW wind project in Jordan 

UAE’s Masdar to develop 1GW wind project in Jordan 

RIYADH: Jordan’s clean energy mix is set to grow after Abu Dhabi Future Energy Co., also known as Masdar, signed an agreement with the country’s Ministry of Energy to develop a 1 gigawatt wind project. 

The agreement will also see the development of a battery energy storage system and a memorandum to explore the feasibility of establishing a green hydrogen plant, according to a press release. 

These deals were signed by Masdar CEO Mohamed Al-Ramahi and Jordan’s Minister of Energy and Mineral Resources, Saleh Al-Kharabsheh, during the 2023 UN Climate Change Conference in Dubai. 

The ceremony was attended by UAE’s Minister of Industry and Advanced Technology and COP28 President and Chairman of Masdar Sultan Al-Jaber, alongside Jordan’s Minister of the Environment, Muawieh Radaideh. 

The project envisages the establishment of a green hydrogen facility near the Port of Aqaba, leveraging desalinated seawater and renewable power sources to produce cost-competitive green hydrogen. 

“With substantial wind and solar resources that can be used to generate large amounts of renewable energy and produce cost-competitive green hydrogen and green fuels, Jordan has the potential to become a global powerhouse in the green energy transition,” Al-Ramahi said.  

He emphasized Masdar’s commitment to supporting Jordan’s decarbonization plans and unlocking its vast green energy potential. 

Al-Kharabsheh highlighted Jordan’s ongoing efforts to enhance its role as a regional hub for green energy production. 

“The Jordanian government’s efforts continue to enhance Jordan’s role as a regional center for green energy production and provide high-quality, cost-competitive green hydrogen fuel by taking advantage of the abundance of renewable energy sources and our nation’s strategic geographical location in the region to provide excellent access to European markets,” he said. 

He further added that the collaboration with Masdar aligns with the ministry’s priorities and Jordan’s Economic Modernization Vision, encompassing investment in green hydrogen production projects as part of Jordan’s clean energy transition goals. 

Masdar already operates the 200 megawatt Baynouna Solar Park through its Baynouna Solar Energy Co. joint venture in Jordan. The solar park stands as Jordan’s largest clean energy project, inaugurated earlier this year. 

With Masdar targeting 1 million tons of green hydrogen production by 2030, this collaboration marks a significant stride toward the UAE’s ambition to become a global green hydrogen hub and capture a substantial share of the international low-carbon hydrogen market by the decade’s end. 


ACWA Power launches its largest green hydrogen project worth over $1bn in Indonesia

ACWA Power launches its largest green hydrogen project worth over $1bn in Indonesia
Updated 15 min 59 sec ago
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ACWA Power launches its largest green hydrogen project worth over $1bn in Indonesia

ACWA Power launches its largest green hydrogen project worth over $1bn in Indonesia

RIYADH: Indonesia is on course to develop its largest green hydrogen project yet, worth over $1 billion, thanks to Saudi Arabia’s energy firm ACWA Power. 

The development, which was announced at COP28 in collaboration with Indonesian utilities company PT Perusahaan Listrik Negara, known as PLN, and chemicals entity PT Pupuk Indonesia, is projected to produce 150,000 tons of green ammonia annually, according to a statement. 

Also referred to as Garuda Hidrogen Hijau, the project is expected to be powered by 600 megawatts of renewable energy. 

This move is in line with ACWA Power’s global green hydrogen expansion endeavors, reinforcing the company’s commitment to a sustainable future.  


Saudi Arabia approves unified eVisa for GCC residents

Saudi Arabia approves unified eVisa for GCC residents
Updated 3 min 9 sec ago
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Saudi Arabia approves unified eVisa for GCC residents

Saudi Arabia approves unified eVisa for GCC residents

RIYADH: Saudi Arabia has approved a unified electronic tourist visa for residents of the Gulf Cooperation Council countries.
The eVisa will be valid for one year and will allow for multiple entries, permitting visitors to spend up to 90 days in the Kingdom. 
The decision was approved on Wednesday. 
Saudi Minister of Tourism Ahmed Al-Khateeb thanked King Salman and Crown Prince Mohammed bin Salman for approving the eVisa service.
This came after the Supreme Council of the GCC announced following a meeting in Doha on Tuesday that it welcomed the efforts of the Committee of Interior Ministers regarding the eVisa.


New climate change framework launched by IsDB insurance arm at COP28

New climate change framework launched by IsDB insurance arm at COP28
Updated 29 min 48 sec ago
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New climate change framework launched by IsDB insurance arm at COP28

New climate change framework launched by IsDB insurance arm at COP28

RIYADH: A new policy on climate change and framework for environmental, social, and corporate governance was launched by the Islamic Corp. for the Insurance of Investment and Export Credit at the UN Climate Change Conference in Dubai. 

The ICIEC, a member of the Islamic Development Bank Group, revealed that the policy aims to integrate governance principles into the institution’s operations, product development, and risk assessment processes, according to the Saudi Press Agency.

The framework also represents a comprehensive tool showcasing the strong commitment of member countries to the principles of environmental, social, and institutional governance. It also includes measures to enhance sustainability across internal operations, resources, and asset utilization.

The event was attended by the President of the IsDB Group, Mohammed Sulaiman Al-Jasser and the director-general of the International Renewable Energy Agency, Francesco La Camera, as reported by SPA.

Furthermore, the framework emphasizes the institution’s commitment to climate change by supporting initiatives to reduce carbon emissions, preserve nature, fulfill obligations under the Paris Agreement, and advocate for investment and trade opportunities. 

These efforts are designed to enhance the ability to adapt to climate change, thereby supporting sustainable economic growth in member countries.

CEO of the ICIEC, Oussama Abdel Rahman Kaissi emphasized stating: “The launch of the climate change policy and the environmental, social, and corporate governance framework reflects the institution’s commitment to sustainability, driving positive change, and contributing to the achievement of global climate goals.”

He added: “It sets new standards for excellence in environmental, social, and corporate governance within the insurance and development sector.”

The ICIEC’s initiative marks a significant step toward aligning financial institutions with global sustainability goals and fostering responsible practices within the sector. 

The organiztion aims to be recognized as the preferred enabler of trade and investment for sustainable economic development in its member countries and to facilitate trade and investment between them and the world through Shariah-compliant risk mitigation tools.

The Islamic Development Bank is a multilateral development bank working to improve lives by promoting social and economic development in member countries and Muslim communities worldwide, delivering impact at scale.