Riyadh Air, AlUla Partner to Promote Saudi Tourism Attractions Worldwide

AlUla entered into a strategic partnership with Riyadh Air. SPA
AlUla entered into a strategic partnership with Riyadh Air. SPA
TT

Riyadh Air, AlUla Partner to Promote Saudi Tourism Attractions Worldwide

AlUla entered into a strategic partnership with Riyadh Air. SPA
AlUla entered into a strategic partnership with Riyadh Air. SPA

AlUla entered into a strategic partnership with Riyadh Air, Saudi Arabia's new world-class airline that has announced an ambitious target to fly to over 100 destinations by 2030.
Under the partnership deal, which was signed on the sidelines of the Arabian Travel Market (ATM) in Dubai, AlUla and the Public Investment Fund-owned Riyadh Air will collaborate on multiple initiatives to raise the profile of AlUla and the new carrier to discerning travelers from across Saudi Arabia and around the globe. Ultimately, the partnership aims to increase tourist volumes to AlUla from key global markets.
"Today marks the start of an exciting new partnership for AlUla and Riyadh Air, which has already made a notable impact on the global aviation landscape, notwithstanding its status as a relatively new airline," said Royal Commission for AlUla (RCU) vice president of destination management and marketing Rami AlMoallim.

"By working together, we can leverage the growing global excitement about AlUla as the Kingdom's premier luxury boutique heritage destination while also making a significant contribution to the Kingdom's broader tourism landscape."

Riyadh Air senior vice president of marketing and communications Osamah Alnuaiser said that as a major Saudi tourist destination, AlUla already offers such rich and unique experiences to visitors.

“At Riyadh Air, we have no doubt that we are both working towards a shared goal of increasing travelers' numbers to the Kingdom."
The cooperation between the two sides will see the delivery of multiple initiatives, including seamless and immersive digital experiences across multiple touch points. In addition, both entities will share and leverage data insights to produce refined content and product strategies for optimal campaign performance, enabling both sides to identify trends and behavioral patterns to produce data-driven decision making and strategies.



Gold Extends Slide to 1-week Low on Curbed Safety Demand, Stronger Dollar

A view shows an ingot of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo
A view shows an ingot of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo
TT

Gold Extends Slide to 1-week Low on Curbed Safety Demand, Stronger Dollar

A view shows an ingot of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo
A view shows an ingot of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk/File Photo

Gold prices extended declines on Tuesday, hitting a more than one-week low, pressured by a jump in US dollar and easing safe-haven demand after reports of a possible Lebanon-Israel ceasefire.

Spot gold was down 0.4% at $2,614.56 per ounce as of 0845 GMT, after hitting its lowest since Nov. 18 earlier in the session. US gold futures edged 0.1% lower to $2,614.80, Reuters reported.

The precious metal fell 3.2% on Monday, its deepest one-day decline in more than five months, on news that Israel looked set to approve a US plan for a ceasefire with the Iran-backed Hezbollah, with further pressure from Trump's nomination of Scott Bessent as the US Treasury secretary.

Meanwhile, the Kremlin said it had noted that Trump's circle was speaking about a potential peace plan for Ukraine.

"This has reduced the geopolitical risk premium, leading to a decline in gold prices," said Soni Kumari, a commodity strategist at ANZ, adding that a stronger US dollar is also weighing on investor appetite for gold. The dollar was up by 0.3%, after US President-elect Donald Trump vowed tariffs against Mexico, Canada and China, reducing gold's appeal for holders of other currencies.

"So now the focus will shift back to, what Fed is going to do in December meeting," Kumari said. Federal Reserve Bank of Minneapolis President Neel Kashkari, typically on the hawkish end of the US central bank's policy spectrum, said he is open to cutting rates again next month.

Traders will also keep a close eye on US consumer confidence data and the minutes from the Fed's November meeting later in the day.

"I expect gold to trade in a narrow range in the short term, with a slight upward drift," Matt Simpson, a senior analyst at City Index said.

Spot silver slipped by 0.1% to $2,614.80 per ounce, platinum shed 1.1% to $928.40 and palladium was down 0.2% to $971.10.