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The post Saudi Arabia’s MISA closes 49 deals worth $925 million appeared first on TD (Travel Daily Media) Travel Daily.

Buoyed by the ambitious objectives of the National Investment Strategy, the Ministry of Investment of Saudi Arabia (MISA) has signed 49 major investment deals worth at least $925 million in the second quarter of 2022. This is set to create about 2,000 new jobs in diverse sectors such as advanced manufacturing, construction and real estate, ICT, tourism, entertainment and sports, says MISA’s Q2 2022 Investment Highlights report.

Khalid Al-Falih, Minister of Investment, said: “The National Investment Strategy is a catalyst to deliver on our Vision 2030 national objectives of seeing the private sector contribute 65% to GDP and growing foreign direct investment to 5.7% of GDP. Despite global headwinds, we are seeing strong interest from global investors in diverse industries to partner with Saudi Arabia.”

Some of the major deals include a $133.3 million agreement between the Saudi Ports Authority and DP World to build a logistics park at Jeddah Islamic Port and a $37 million funding round led by global finance giant Mastercard into Saudi e-commerce firm HyperPay to expand the kingdom’s digital payment ecosystem.

Other investments reported by MISA are a strategic agreement with pharmaceutical multinational Novartis to grow Saudi Arabia’s biopharmaceutical capabilities, a $50 million investment by Aramco’s Wa’ed Ventures into Saudi fintech Wahed and a deal by Ma’aden to build the world’s largest solar-powered steam plant to be used to refine bauxite into alumina.

Alongside covering these and other deals, MISA’s Investment Highlights report analyses macroeconomic indicators and highlights investment opportunities available to local and foreign investors.

The post Saudi Arabia’s MISA closes 49 deals worth $925 million appeared first on Travel Daily.

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The post British Airways Halts Short-Haul Sales appeared first on TD (Travel Daily Media) Travel Daily.

Due to high demand and staff shortages, British Airways has temporarily halted sales of short-haul flights out of London Heathrow Airport in response to the airport’s request to reduce bookings.

The domestic UK and European flights departing from Heathrow Airport will be subject to a limit on ticket sales until Monday when the restrictions will be lifted. Only flights lasting less than three hours will be affected by the airline’s new policy, which excludes places like Manchester, Paris, Berlin, Madrid, and Zurich.

However, short-haul flights to the airport can still be booked by travellers.

After Heathrow set a daily departure passenger limit of 100,000 until September 11th, BA said it would take action. As a result of the airport’s decision to ask airlines to cease selling tickets and reduce flights, there has been a backlash against the airport.

Although passenger traffic at Heathrow and other European airports has increased following two years of pandemic travel restrictions, airports and airlines have not been able to keep up because they laid off thousands of employees during the depths of COVID-19.

Some Heathrow services have been restricted in order to offer existing customers rebooking choices because of Heathrow’s request to limit new bookings and the continued problems confronting the aviation sector, British Airways said in a press statement.

Heathrow has been the scene of travel mayhem this summer, with long queues for security and technical problems with the baggage system that led to massive heaps of lost and unclaimed bags.

Last month, the airport issued an apology to travellers who had to reschedule or cancel their flights due to poor service.

Initially, BA cancelled 10,300 flights until October in response to Heathrow’s restriction on passengers.

The daily passenger limit at Amsterdam’s Schiphol airport has also been extended until October.

The post British Airways Halts Short-Haul Sales appeared first on Travel Daily.

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