Saudi Arabia, Barbados Sign Agreement on Air Transportation Services

Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser signed the agreement with Barbados Minister of Foreign Affairs and Foreign Trade and Senior Minister Coordinating the Productive Sector, Kerrie Symmonds.
Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser signed the agreement with Barbados Minister of Foreign Affairs and Foreign Trade and Senior Minister Coordinating the Productive Sector, Kerrie Symmonds.
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Saudi Arabia, Barbados Sign Agreement on Air Transportation Services

Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser signed the agreement with Barbados Minister of Foreign Affairs and Foreign Trade and Senior Minister Coordinating the Productive Sector, Kerrie Symmonds.
Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser signed the agreement with Barbados Minister of Foreign Affairs and Foreign Trade and Senior Minister Coordinating the Productive Sector, Kerrie Symmonds.

The governments of Saudi Arabia and Barbados have signed an air transportation agreement aiming to set regulatory frameworks for safe air travel, SPA reported on Friday.
Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser signed the agreement with the government of Barbados, represented by Minister of Foreign Affairs and Foreign Trade and Senior Minister Coordinating the Productive Sector, Kerrie Symmonds.
The agreement complements the 1944 Convention on International Civil Aviation, also known as the Chicago Convention, which regulates international civil aviation based on the principles of fair and equal opportunities.
The deal keeps pace with the developments in regulation between Saudi Arabia and Barbados, including the regulation of granting air transport rights and implementing standards for designation and licensing of internationally operating airlines.
It also aims to promote aviation safety and civil aviation security between the two sides, promote fair competition rules, and serve the joint economic interests of national carriers.
It further strengthens the national carriers’ active and continuous participation in serving the air transport market between Saudi Arabia and Barbados by applying modern market access patterns and encompassing all forms of air transport.
The agreement is part of the objectives of the civil aviation strategy, aimed at building international partnerships and signing new bilateral agreements that support its ambitious goals.
The strategy also aims to enhance the Kingdom's air connectivity to 250 destinations worldwide, making it a global logistics hub, and to transport 330 million passengers annually by 2030.



Gulf Markets Decline Amid Escalating Geopolitical Tensions in the Region

Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)
Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)
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Gulf Markets Decline Amid Escalating Geopolitical Tensions in the Region

Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)
Traders monitor screens displaying stock information on the Qatar Stock Exchange in Doha. (Reuters)

Most stock markets in the Gulf region closed lower on Sunday, amid fears that increasing geopolitical tensions could lead to a broader conflict in the region.

Israeli airstrikes shook southern Beirut on Friday night and into the early hours of Sunday, marking the heaviest bombardment of the Lebanese capital since Israel escalated its campaign against Hezbollah last month.

The Saudi index fell by 1.6%, hitting its lowest level since September 11, driven by declines in Al-Tayseer (TALCO) Group shares, which dropped 5.1%, and Al Rajhi Bank, which fell by 4.8%. Meanwhile, Aramco, the heaviest-weighted stock on the index, slipped by 0.18% to reach SAR 27.

The Qatari index also lost 0.5%, as Qatar Fuel Company shares fell by 2.3%. The Kuwaiti stock market index declined by 1%, and Bahrain’s general index fell by 0.13%.

On the other hand, some Arab markets managed to recover from the losses they incurred last week. The Egyptian stock market index rose by 1.24%, while the Casablanca index posted a slight gain of 0.09%, and the Muscat index increased by 0.16%.

Similar events in April led to a wave of selling of stocks and other high-risk assets, but markets rebounded within days as concerns over the escalation of the conflict subsided.