Europe Aviation Agency Urges Caution in Israeli, Iranian Airspace 

A view from the southern Gaza strip shows drones or missiles vying for targets in southern Israel, early 14 April 2024. (EPA)
A view from the southern Gaza strip shows drones or missiles vying for targets in southern Israel, early 14 April 2024. (EPA)
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Europe Aviation Agency Urges Caution in Israeli, Iranian Airspace 

A view from the southern Gaza strip shows drones or missiles vying for targets in southern Israel, early 14 April 2024. (EPA)
A view from the southern Gaza strip shows drones or missiles vying for targets in southern Israel, early 14 April 2024. (EPA)

Europe's aviation regulator reaffirmed advice to airlines to use caution in Israeli and Iranian airspace though it said no civil overflights had been placed at risk during weekend tensions surrounding Iranian drone and missile strikes on Israel. 

The European Union Aviation Safety Agency (EASA) said it and the European Commission would "continue to closely monitor the situation to assess any potential safety risks for EU aircraft operators and be ready to act as appropriate". 

EASA guidance that is already in place for airlines on Israel and Iran continues to apply, it said in an emailed note. 

That included exercising caution and following all available aeronautical publications for Israel and neighboring airspace up to 100 nautical miles surrounding the country. 

For Iran, it recommended caution and said "there continues to be an increased potential for miscalculation and/or misidentification" in airspace over the Iranian capital Tehran. 

Global airlines face some disruption after Iran's attack on Israel with more than 300 missiles and drones, which were mostly shot down by Israel's US-backed missile defense system or its allies before they reached Israeli airspace. 

The attack was in response to a suspected Israeli airstrike on Iran's Syria consulate on April 1 in which seven Iranian Revolutionary Guards commanders and officers were killed. 

EASA said all affected airspaces - Israel, Lebanon, Jordan, Iraq and Iran - were closed by the relevant authorities during the relevant period. 

"There was no overflight risk for civil aviation at any time," it said. An overflight involves an aircraft transiting through airspace, typically at high cruising altitude. 

All the temporary airspace closures imposed at the weekend expired on Sunday, EASA said. 



Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.