Saudi Arabia Concludes Participation in 'Wings India 2024' Conference and Exhibition

The exhibition attracted around 100,000 visitors and is recognized as one of the most significant aviation exhibitions and conferences in Asia. (SPA)
The exhibition attracted around 100,000 visitors and is recognized as one of the most significant aviation exhibitions and conferences in Asia. (SPA)
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Saudi Arabia Concludes Participation in 'Wings India 2024' Conference and Exhibition

The exhibition attracted around 100,000 visitors and is recognized as one of the most significant aviation exhibitions and conferences in Asia. (SPA)
The exhibition attracted around 100,000 visitors and is recognized as one of the most significant aviation exhibitions and conferences in Asia. (SPA)

Saudi Arabia, represented by the General Authority of Civil Aviation, successfully concluded on Sunday its participation in the Wings India 2024 exhibition conference.

The event was organized by the Indian Ministry of Civil Aviation in cooperation with the Federation of Indian Chambers of Commerce and Industry (FICCI). Leaders and heads of global civil aviation organizations and bodies attended the event that was held from January 18 to 21 at Begumpet Airport, Hyderabad.

During Saudi Arabia's participation, a delegation led by the President of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, highlighted the vital role of the civil aviation sector in the Kingdom's national economy.

He also emphasized the promising investment opportunities offered by this sector, aligning with the Saudi Aviation Strategy's objectives. Under this strategy, the General Authority of Civil Aviation (GACA) aims to position Saudi Arabia as a leading player in civil aviation in the Middle East. Their goals include doubling passenger capacity to 330 million annually, serving more than 250 destinations worldwide, and increasing cargo capacity to 5.4 million tons.

On the sidelines of the conference, Al-Duailej participated in a ministerial session with leaders of civil aviation from around the world. The session focused on reviewing the national aviation strategy's role in supporting economic development in Saudi Arabia.

It also discussed the various opportunities for global investors based on the objectives of Saudi Vision 2030. The aim is for Saudi Arabia to become a regional aviation hub and a global logistics platform connecting three continents.

The Saudi Aviation Strategy aims to emphasize the Kingdom's pioneering role in the in the field of civil aviation in the Middle East region. It aims to attract $100 billion in investments and create a world-class travel experience for more than 330 million passengers annually by 2030. It intends to target only 10% of these 330 million passengers as transit passengers, underscoring our focus on sustainable and integrated growth.

The Wings India 2024 conference and exhibition also facilitated bilateral and one on one meetings to enhance cooperation. Al-Duailej met with the Minister of Civil Aviation and Steel of the Republic of India, Jyotiraditya Scindia, to discuss topics of mutual interest.

Additionally, he met with Minister of Infrastructure of Sweden Johan Davidsson and discussed cooperation in the field of civil aviation.

Another significant meeting took place with the Minister of Civil Aviation of Cambodia Mao Havanal to explore opportunities for direct operations between the two countries in line with the Saudi Civil Aviation Strategy. The meeting culminated in the signing of a record of consultations between Saudi Arabia and Cambodia.

As part of the activities at Wings India 2024 conference and exhibition, Eng. Imtiaz Muhammad Manzari, the Director General of General Aviation, participated in a dialogue session on "The Helicopter Industry." He highlighted the potential and prospects of helicopters and stressed the importance of developing new and diverse modes of efficient transportation.

Manzari also emphasized the need for modern technologies and infrastructure, including approved airstrips and maintenance centers, to support the safe operation of modern helicopters.

GACA's participation aimed to strengthen relationships with major international airlines and stakeholders in the aviation industry, foster an investor-friendly environment, promote the development of new routes, and introduce promising opportunities in the Saudi aviation sector.

Discussions during the event covered the latest trends, innovations, and solutions in the aviation industry, with a particular focus on air mobility, sustainability, and advanced technologies.

The Wings India 2024 conference and exhibition showcased advanced air transport solutions and their potential to transform civil aviation and open new markets for air travel in the coming decades.

The event attracted over 5,000 participants, including civil aviation authorities from multiple countries, airlines, and companies related to the civil aviation sector.

The exhibition attracted around 100,000 visitors and is recognized as one of the most significant aviation exhibitions and conferences in Asia.



US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
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US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid

Wall Street stocks retreated early Thursday as worries over US-Iran tensions lifted oil prices while markets digested mixed results from Walmart.

US oil futures rose to a six-month high as Iran's atomic energy chief Mohammad Eslami said no country can deprive the Islamic republic of its right to nuclear enrichment, after US President Donald Trump again hinted at military action following talks in Geneva.

"We'd call this an undercurrent of concern that is bubbling up in oil prices," Briefing.com analyst Patrick O'Hare said of the "geopolitical angst."

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 49,379.46, AFP reported.

The broad-based S&P 500 fell 0.5 percent to 6,849.35, while the tech-rich Nasdaq Composite Index declined 0.6 percent to 22,621.38.

Among individual companies, Walmart rose 1.7 percent after reporting solid results but offering forecasts that missed analyst expectations.

Shares of the retail giant initially fell, but pushed higher after Walmart executives talked up artificial intelligence investments on a conference call with analysts.

The US trade deficit in goods expanded to a new record in 2025, government data showed, despite sweeping tariffs that Trump imposed during his first year back in the White House.


Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
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Gold Advances on US–Iran Tensions as Markets Weigh Fed Policy Path

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola/File Photo

Gold prices extended gains on Thursday after rising more than 2% in the previous session, as lingering tensions between the United States and Iran prompted a flight to safety, while investors evaluated the Federal Reserve's monetary policy path.

Spot gold rose 0.2% to $4,989.09 per ounce by 1227 GMT. US gold futures for April delivery held steady at $5,008.60.

"Geopolitical concerns are front and centre with reports that, if the US were to take military action against Iran, it could go on for several weeks," said Jamie Dutta, market analyst at Nemo.money, Reuters reported.

Some progress was made during Iran talks this week in Geneva but distance remained on some issues, the White House said on Wednesday.

FED LARGELY UNITED

Top US national security advisers met in the White House Situation Room on Wednesday to discuss Iran and were told all US military forces deployed to the region should be in place by mid-March.

Meanwhile, the Fed's January minutes showed it largely united on holding interest rates steady, but divided over what comes next, with "several" open to rate hikes if inflation remains elevated, while others were inclined to support further cuts if inflation recedes.

The weekly jobless claims data, due later in the day, and Friday's Personal Consumption Expenditures report, the Fed’s preferred inflation gauge, will provide further clues on the central bank's policy trajectory.

Markets currently expect this year's first interest rate cut to be in June, according to CME's FedWatch Tool.

Non-yielding bullion tends to do well in low-interest-rate environments.

Spot silver rose 0.9% to $77.87 per ounce after climbing more than 5% on Wednesday.

Silver is "supported by tight supply and low COMEX stock levels ahead of the delivery period of the March contract. However, given the extent of the historic correction earlier this month, silver is not back on safer ground until it trades back above $86," said Ole Hansen, head of commodity strategy at Saxo Bank.

Spot platinum fell 0.6% to $2,059.55 per ounce, while palladium lost 1.7% to $1,686.47.


Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.