Saudi Arabia’s Riyadh Air placed orders for 34 widebody aircraft with both Boeing BA.N and Airbus on Monday, as it accelerates its plans to reach more than 100 destinations by 2030.

The airline said it would exercise options for 28 Boeing 787 Dreamliners from an order placed in 2023 and convert 20 of those options into the larger 787-10 variant.

Separately, the carrier confirmed the purchase of six Airbus A350-1000 aircraft, firming up previously held purchase rights and bringing its total confirmed A350-1000 orders to 31 aircraft.

The aircraft orders, the first announced at this year’s Farnborough Airshow, come as Riyadh Air ramps up operations following the launch of several new routes since June, seeking to establish Riyadh as a major hub to compete with larger Middle Eastern rivals.

The carrier has already taken delivery of six 787-9 aircraft and currently serves six cities.

Backed by Saudi Arabia’s sovereign wealth fund, Riyadh Air is central to the kingdom’s strategy to diversify its economy beyond oil and boost tourism and connectivity under its Vision 2030 plan.

The carrier has said it aims to connect the Saudi capital to more than 100 destinations worldwide by the end of the decade.

Mubadala Capital has signed an agreement to launch an all-cash voluntary tender offer for Pierre et Vacances, after securing commitments from shareholders representing more than 80 per cent of the company’s share capital.

The Abu Dhabi-based alternative asset manager said the acquisition would be made through a special purpose vehicle on the same financial terms announced on June 22.

Shareholders representing 80.13 per cent of Pierre et Vacances’ outstanding share capital have committed to tender their holdings to the offer.

Pierre et Vacances’ board unanimously welcomed the proposed transaction, subject to the issuance of its formal opinion under French takeover rules, an independent fairness opinion, consultation with employee representative bodies and customary regulatory approvals.

The board said it had determined the transaction was in the interests of the company, its shareholders, employees and other stakeholders.

“The signing of this agreement, supported by the commitments of our main shareholders, marks a decisive step in our strategic review,” Georges Sampeur, chairman of Pierre et Vacances, said in a statement.

Mubadala to support next phase of the company’s strategy

Franck Gervais, chief executive of Pierre & Vacances-Center Parcs Group, said Mubadala Capital’s investment would support the next phase of the company’s Beyond ReInvention strategy through continued investment in its sites, workforce and customer experience.

Antoun Ghanem, partner and head of European private equity at Mubadala Capital, said the firm planned to support the group’s growth by expanding capacity, upgrading sites and investing alongside management in the business’s long-term development.

Under the proposed offer, Mubadala Capital will pay EUR 1.90 per ordinary share before an extraordinary distribution, or EUR 1.79 per share after a proposed EUR 0.11-per-share distribution.

Shareholders could receive an additional EUR 0.10 per share if Mubadala Capital acquires at least 90 per cent of the company on a fully diluted basis, allowing it to complete a squeeze-out and delist the company.

The companies expect to file the offer with France’s financial markets regulator by the first quarter of 2027, subject to regulatory approvals, shareholder approval of the proposed distribution and other customary conditions.

Completion is expected in the first half of 2027 if the statutory acceptance threshold is met.

Pierre & Vacances-Center Parcs operates more than 45,000 apartments, houses and villas across 330 destinations in Europe under the Pierre & Vacances, Center Parcs, Adagio and maeva&co brands, welcoming nearly eight million guests each year.

Read: Mubadala acquires $200m stake in UK-Ireland power interconnector Greenlink

Yemen’s Iran-backed Houthi movement has announced what it described as a naval blockade against Saudi Arabia, marking the latest escalation in regional tensions and raising fresh concerns over maritime security, global shipping and energy supply chains.

According to Reuters, the announcement was made on Monday by the group’s military spokesperson in a televised statement, although no immediate operational details were provided on how the blockade would be enforced or which vessels would be targeted.

The declaration comes less than a week after the Houthis threatened to expand military operations against Saudi Arabia following renewed hostilities that ended a fragile truce dating back to 2022. Earlier this month, the group launched missile and drone attacks on Saudi territory after accusing Saudi-backed forces of striking Sanaa International Airport to prevent an Iranian aircraft from landing.

The UAE’s non-oil foreign trade rose 13.1 per cent year on year in H1 2026 to Dhs1.937tn ($527.4bn), driven by record non-oil exports and continued growth in trade with key global partners, government data showed on Sunday.

Non-oil exports increased 23.9 per cent from a year earlier to a record Dhs452.8bn, accounting for 23.4 per cent of the country’s total non-oil foreign trade, up from 21.3 per cent in H1 2025.

“Today, we reviewed the UAE’s non-oil foreign trade results for the first half of 2026, and they are exceptional by every measure,” Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, said in a statement.

“Our non-oil foreign trade has approached the Dhs2tn mark in just six months, reaching a final figure of Dhs1.937tn, representing an annual growth of 13.1 per cent. Our national non-oil exports also reached a new historic record of Dhs452.8 bn.”

He said the results reflected “the strength of our economy, the effectiveness of our development choices and the world’s confidence in the UAE”.

The trade figures were 39.6 per cent higher than in H1 2024, 54.5 per cent above the same period in 2023 and 78.8 per cent higher than in the first half of 2022.

Non-oil foreign trade also more than doubled levels recorded during the same period in 2019 and 2021.

Key trade partners

China remained the UAE’s largest trading partner, with non-oil trade worth Dhs180.7bn during the period, followed by Switzerland at Dhs138.4bn and India at Dhs107.5bn.

Egypt, Oman and Hong Kong also posted strong growth among the country’s major trading partners.

Non-oil trade with the UAE’s top 10 trading partners grew 12.6 per cent in the first half, while trade with the rest of the world increased 13.6 per cent, reflecting the continued expansion of the country’s global trade network.

Non-oil exports accounted for 21.7 per cent of total trade with in-force CEPA partners, up from 19.1 per cent in 2022.

Imports from CEPA partners totalled Dhs193.5bn, while non-oil exports to those countries reached Dhs66.1bn.

Trade with countries where the UAE has fully implemented comprehensive economic partnership agreements (CEPAs) reached Dhs304.3bn during the first six months of the year.

Gold remained the country’s largest traded non-oil commodity, with trade valued at Dhs706.2 billion, up 48.8 per cent from a year earlier.

Telecommunications products ranked second at Dhs189.7bn, followed by gold jewellery, automobiles and diamonds.

The top 10 commodities accounted for about 67 per cent of the UAE’s total non-oil merchandise trade during the period.

BMW has integrated its vehicle configurator with OpenAI’s ChatGPT, becoming the first automotive manufacturer to offer AI-powered vehicle configuration and product guidance directly through the conversational platform.

The move reflects the growing adoption of generative artificial intelligence in customer engagement, allowing prospective buyers to configure vehicles through natural language conversations rather than navigating traditional online menus.

Available on both desktop and mobile devices, the BMW plugin combines ChatGPT’s conversational capabilities with the automaker’s product and configuration database to recommend models and specifications based on customer preferences.

Instead of browsing through multiple configuration screens, users can describe their requirements—such as vehicle size, powertrain, all-wheel drive capability, driving dynamics or intended use—and receive tailored model recommendations and configuration options.

The AI-powered assistant also enables customers to compare different vehicle specifications, refine recommendations during the conversation and adjust factors including running costs, colour, drivetrain and performance.

Once a preferred specification has been selected, users can open the configuration directly within BMW’s online configurator or browse available inventory with similar specifications.

BMW said all recommendations are generated using the latest data from its vehicle configurator, ensuring customers receive up-to-date product information throughout the consultation process.

For queries beyond the configurator’s database, ChatGPT can also access current information from the internet where supported and enabled.

The integration underscores a broader shift in the automotive industry towards conversational AI as manufacturers seek to simplify digital customer journeys and personalise the vehicle buying experience.

The BMW plugin is available directly within ChatGPT via the Plugins section on desktop and mobile platforms, allowing customers to access vehicle advice and configuration tools without leaving the AI application.