Saudi Arabia Signs Civil Aviation Deals with Pakistan, Bangladesh

The signing of the deals came as President of the General Authority of Civil Aviation Abdulaziz bin Abdullah Al-Duailej met with civil aviation officials and specialists in both Pakistan and Bangladesh. SPA
The signing of the deals came as President of the General Authority of Civil Aviation Abdulaziz bin Abdullah Al-Duailej met with civil aviation officials and specialists in both Pakistan and Bangladesh. SPA
TT

Saudi Arabia Signs Civil Aviation Deals with Pakistan, Bangladesh

The signing of the deals came as President of the General Authority of Civil Aviation Abdulaziz bin Abdullah Al-Duailej met with civil aviation officials and specialists in both Pakistan and Bangladesh. SPA
The signing of the deals came as President of the General Authority of Civil Aviation Abdulaziz bin Abdullah Al-Duailej met with civil aviation officials and specialists in both Pakistan and Bangladesh. SPA

Saudi Arabia has signed separate civil aviation deals with Pakistan and Bangladesh as part of the Saudi aviation sector strategy aimed at building international partnerships.

The signing of the deals came as President of the General Authority of Civil Aviation (GACA) Abdulaziz bin Abdullah Al-Duailej met with civil aviation officials and specialists in both Pakistan and Bangladesh.

As part of a Saudi delegation headed by Minister of Hajj and Umrah Dr. Tawfiq bin Fawzan Al-Rabiah, Al-Duailej met separately with Pakistan Civil Aviation Authority (PCAA) Director General Khaqan Murtaza and Bangladeshi Minister of Civil Aviation and Tourism Mahbub Ali.

Air transportation officials and CEOs of air carriers attended the meetings.

Officials at the meetings discussed ways to increase seating capacity for transporting religious visitors to the Kingdom as well as the best solutions to overcome current and future challenges. They also reviewed cooperation and ways of providing more facilities for air carriers.

On the sidelines of the Pakistan meeting, Al-Duailej signed an agreement with his Pakistani counterpart on air transportation services.

The agreement aims to enhance cooperation between the two sides regarding air services and develop regulatory frameworks for air transport between the two countries in a safe and orderly manner.

The GACA President signed a memorandum of understanding (MoU) with Minister Ali in the field of air transport to boost the number of flights between the Kingdom and Bangladesh, increase seating capacity, facilitate the arrival of religious visitors to the Kingdom, and boost air cargo flights.

The Saudi aviation sector strategy aims to foster the Kingdom's air connectivity with the world to include 250 destinations and triple the number of passengers to 330 million passengers. The strategy also seeks to up air cargo capacity to 4.5 million tons annually by 2030.



UN Predicts World Economic Growth to Remain at 2.8% in 2025

A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)
A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)
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UN Predicts World Economic Growth to Remain at 2.8% in 2025

A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)
A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)

Global economic growth is projected to remain at 2.8% in 2025, unchanged from 2024, held back by the top two economies, the US and China, according to a United Nations report released on Thursday.

The World Economic Situation and Prospects report said that "positive but somewhat slower growth forecasts for China and the United States" will be complemented by modest recoveries in the European Union, Japan, and Britain and robust performance in some large developing economies, notably India and Indonesia.

"Despite continued expansion, the global economy is projected to grow at a slower pace than the 2010–2019 (pre-pandemic) average of 3.2%," according to the report by the UN Department of Economic and Social Affairs.

"This subdued performance reflects ongoing structural challenges such as weak investment, slow productivity growth, high debt levels, and demographic pressures," Reuters quoted it as saying.

The report said US growth was expected to moderate from 2.8% last year to 1.9% in 2025 as the labor market softens and consumer spending slows.

It said growth in China was estimated at 4.9% for 2024 and projected to be 4.8% this year with public sector investments and a strong export performance partly offset by subdued consumption growth and lingering property sector weakness.
Europe was expected to recover modestly with growth increasing from 0.9% in 2024 to 1.3% in 2025, "supported by easing inflation and resilient labor markets," the report said.

South Asia is expected to remain the world’s fastest-growing region, with regional GDP projected to expand by 5.7% in 2025 and 6% in 2026, supported by a strong performance by India and economic recoveries in Bhutan, Nepal, Pakistan and Sri Lanka, the report said.

India, the largest economy in South Asia, is forecast to grow by 6.6% in 2025 and 6.8% in 2026, driven by robust private consumption and investment.
The report said major central banks are likely to further reduce interest rates in 2025 as inflationary pressures ease. Global inflation is projected to decline from 4% in 2024 to 3.4% in 2025, offering some relief to households and businesses.
It calls for bold multilateral action to tackle interconnected crises, including debt, inequality, and climate change.
"Monetary easing alone will not be sufficient to reinvigorate global growth or address widening disparities," the report added.