SAUDIA Becomes 1st Airline to Fly to Red Sea International Airport

Saudi Arabian Airlines (SAUDIA) has become the first airline to operate flights to the Red Sea International Airport. SPA
Saudi Arabian Airlines (SAUDIA) has become the first airline to operate flights to the Red Sea International Airport. SPA
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SAUDIA Becomes 1st Airline to Fly to Red Sea International Airport

Saudi Arabian Airlines (SAUDIA) has become the first airline to operate flights to the Red Sea International Airport. SPA
Saudi Arabian Airlines (SAUDIA) has become the first airline to operate flights to the Red Sea International Airport. SPA

Saudi Arabian Airlines (SAUDIA) has achieved a significant milestone by becoming the first airline to operate flights to the Red Sea International Airport. This accomplishment has been made possible through a memorandum of understanding signed between the Red Sea International (RSI), SAUDIA, and daa International, the operator of Red Sea International Airport.

According to John Pagano, Group CEO of Red Sea Global, the development of Red Sea International Airport is progressing steadily, and it is expected to be launched this year alongside three resorts. Initially, the airport will cater to domestic flights from and to Riyadh and subsequently expand to include flights from Jeddah. By 2024, the airport aims to handle international flights as well.

Pagano further explained that SAUDIA, the national carrier of Saudi Arabia, will begin regular operations from and to Red Sea International Airport based on the memorandum of understanding.

The agreement also lays the foundation for collaborative research on the utilization of Lower Carbon Aviation Fuel and Sustainable Aviation Fuel (SAF) at the airport. This demonstrates a shared commitment towards reducing carbon emissions in the aviation industry.

In addition, the memorandum entails the evaluation of the implementation of electric vertical take-off and landing jets (eVTOL) as a means to further reduce emissions from air travel in the Red Sea region.

The landmark agreement between SAUDIA, Red Sea International, and daa International paves the way for sustainable aviation practices and is a sign on the progressive approach taken by all parties towards environmental preservation in the aviation sector.



Gold Gains as Dollar Slips on Trump Tariff Uncertainty

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Gains as Dollar Slips on Trump Tariff Uncertainty

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices rose on Tuesday as the US dollar eased due to uncertainty around President-elect Donald Trump's tariff plans, with further support coming from top consumer China's central bank adding to its gold reserves for a second straight month.

Spot gold was up 0.5% at $2,648.75 per ounce, as of 1218 GMT. US gold futures also rose 0.5% to $2,660.20.

"The main factor is the softening of the US dollar over the last two sessions, which has provided some relief for the precious metal," said Ricardo Evangelista, senior analyst at ActivTrades.

The dollar index eased towards a one-week low versus major peers as traders considered whether President-elect Donald Trump's tariffs would be less aggressive than promised following a report in the Washington Post, Reuters reported.

Trump however denied the report, deepening uncertainty about future US trade policies.

A stronger dollar makes bullion more expensive for other currency holders.

Traders are setting their sights on Friday's US jobs report for Fed policy clues, along with job openings data due later in the day, ADP employment and the minutes from the Fed's December meeting on Wednesday.

Fed Governor Lisa Cook on Monday said that the Fed can be cautious about any further rate cuts given a solid economy and inflation proving stickier than previously expected.

Bullion is considered a hedge against inflation, but high rates reduce the non-yielding asset's appeal.

Meanwhile, China's gold reserves stood at 73.29 million fine troy ounces at the end of December as the central bank kept buying gold for a second straight month, official data showed.

"By re-entering the market in December, Beijing signaled that its gold acquisition program remains active—a development likely to lend continued support to the precious metal's price," Evangelista added.

Gold prices gained about 27% in 2024, mainly boosted by robust central bank purchases and Fed rate cuts.

Spot silver gained 0.8% to $30.19 per ounce, platinum added 1.2% to $944.39 and palladium rose 0.9% to $928.38.