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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
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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.

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ECB's Lagarde Renews Integration Call as Trade War Looms

FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo
FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo
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ECB's Lagarde Renews Integration Call as Trade War Looms

FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo
FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo

European Central Bank President Christine Lagarde renewed her call for economic integration across Europe on Friday, arguing that intensifying global trade tensions and a growing technology gap with the United States create fresh urgency for action.
US President-elect Donald Trump has promised to impose tariffs on most if not all imports and said Europe would pay a heavy price for having run a large trade surplus with the US for decades.
"The geopolitical environment has also become less favorable, with growing threats to free trade from all corners of the world," Lagarde said in a speech, without directly referring to Trump.
"The urgency to integrate our capital markets has risen."
While Europe has made some progress, EU members tend to water down most proposals to protect vested national interests to the detriment of the bloc as a whole, Reuters quoted Lagarde as saying.
But this is taking hundreds of billions if not trillions of euros out of the economy as households are holding 11.5 trillion euros in cash and deposits, and much of this is not making its way to the firms that need the funding.
"If EU households were to align their deposit-to-financial assets ratio with that of US households, a stock of up to 8 trillion euros could be redirected into long-term, market-based investments – or a flow of around 350 billion euros annually," Lagarde said.
When the cash actually enters the capital market, it often stays within national borders or leaves for the US in hope of better returns, Lagarde added.
Europe therefore needs to reduce the cost of investing in capital markets and must make the regulatory regime easier for cash to flow to places where it is needed the most.
A solution might be to create an EU-wide regulatory regime on top of the 27 national rules and certain issuers could then opt into this framework.
"To bypass the cumbersome process of regulatory harmonization, we could envisage a 28th regime for issuers of securities," Lagarde said. "They would benefit from a unified corporate and securities law, facilitating cross-border placement, holding and settlement."
Still, that would not solve the problem that few innovative companies set up shop in Europe, partly due to the lack of funding. So Europe must make it easier for investment to flow into venture capital and for banks to fund startups, she said.