GACA Showcases Promising Saudi Aviation Opportunities at Dubai Airshow

GACA is showcasing the strategy, along with various investment opportunities in civil aviation at regional and global levels - SPA
GACA is showcasing the strategy, along with various investment opportunities in civil aviation at regional and global levels - SPA
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GACA Showcases Promising Saudi Aviation Opportunities at Dubai Airshow

GACA is showcasing the strategy, along with various investment opportunities in civil aviation at regional and global levels - SPA
GACA is showcasing the strategy, along with various investment opportunities in civil aviation at regional and global levels - SPA

The General Authority for Civil Aviation (GACA) pavilion at the 18th Dubai Airshow is highlighting the promising opportunities within the Saudi aviation sector as part of the Civil Aviation Sector Strategy.
GACA, the Saudi air transport system, and national carrier companies and institutions are participating in the Dubai Airshow, which is taking place November 13-17 at Dubai World Central (DWC).
The GACA pavilion is spotlighting the crucial role of the civil aviation sector in the Kingdom as a significant driver of the national economy, offering investment opportunities since the launch of the strategy, SPA reported.
At the pavilion, GACA is showcasing the strategy, along with various investment opportunities in civil aviation at regional and global levels. It also is presenting the latest industry trends, innovations, and solutions, with a special focus on air transport, space, sustainability, and advanced technology.
Additionally, the pavilion is highlighting the sector’s objective of doubling travel capacity to 330 million passengers annually from more than 250 destinations worldwide, and increasing cargo capacity to 4.5 million tons.
According to SPA, the Civil Aviation Sector Strategy, derived from the Saudi National Transport and Logistics Strategy, aims at developing the aviation sector to achieve optimal results and maintain its accomplishments at the local, regional, and international levels.
The strategy aims to position the Saudi civil aviation sector at the forefront of the Middle East.



Gold Extends Gains as Safe-haven Rush follows Trump's Tariffs

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Extends Gains as Safe-haven Rush follows Trump's Tariffs

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold prices extended gains on Tuesday, driven by safe-haven demand as trade conflicts erupted after US President Donald Trump imposed new tariffs on top three trading partners of the world's biggest economy.

Spot gold rose 0.9% to $2,919.44 an ounce by 1154 GMT, up for a second straight session. Bullion has gained 10% so far this year and hit a record high of $2,956.15 on February 24.

US gold futures rose about 1% to $2,930.

Trump's new 25% tariffs on imports from Mexico and Canada took effect at 0501 GMT. He also doubled duties on Chinese goods to 20%. China hit back immediately with additional tariffs of 10%-15% on certain US imports from March 10 and a series of new export restrictions for designated US entities, Reuters reported.

"With Trump 2.0 delivering exactly the chaos he promised in the US election, Western investors are joining emerging-market central banks in buying gold as an all-weather hedge," said Adrian Ash, head of research at online marketplace BullionVault.

Traders now await the ADP employment report due on Wednesday and the US nonfarm payrolls report on Friday for clues on the Federal Reserve's interest-rate trajectory.

"Any indication of a slowdown in the US economy would support calls for more Fed rate cuts and support the gold price. We continue to look gold to re-test the highs over the coming weeks," UBS analyst Giovanni Staunovo said.

The US central bank held interest rates steady in its last meeting. It is expected to resume cutting rates in June and could reduce short-term borrowing costs again in September.

J.P.Morgan said it expects gold close to $3,000 an ounce by the fourth quarter of 2025.

Spot silver added 0.6% to $31.88 an ounce, platinum firmed 0.6% to $959 and palladium gained 1.2% to $949.18.