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Saudi Arabia Hosts Int’l Conference to Improve Traveler Experience

Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
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Saudi Arabia Hosts Int’l Conference to Improve Traveler Experience

Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)

Officials and investors in the airport industry developed innovative strategies to facilitate the traveler’s experience, during the Airports Council International (ACI) Asia-Pacific & Middle East / ACI World Annual General Assembly, Conference and Exhibition (WAGA 2024), which kicked off in Riyadh on Wednesday.

The three-day event, hosted by Riyadh Airports, features the participation of aviation leaders, airport CEOs, and over 800 specialists from across the globe. This is the first time WAGA is being held in the Middle East, underscoring Saudi Arabia’s pivotal role in airport management and aviation.

The head of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, said on the occasion that Saudi Arabia is anticipating the future of aviation through its endeavor to host major events related to the industry, and is implementing a clear vision to lead the Middle East region at the level of logistical services.

He added that the Airports Council International conference represents a tremendous opportunity for the system in Saudi Arabia, by providing a basic foundation for benefiting from industry leaders and keeping pace with the latest developments in the field of aviation locally and globally.

For his part, the CEO of Riyadh Airports, Ayman Abo Abah, announced that his company is working with the relevant authorities to promote the reliance on clean energy sources, pointing in this context to progress achieved at King Khalid International Airport.

Riyadh Airports was established in 2016 as part of the sector privatization program. The company manages and operates King Khalid International Airport in Riyadh, and seeks to develop the airport’s infrastructure and conduct expansion projects for new services and facilities.

Abo Abah explained that King Khalid International Airport has received the global accreditation certificate for managing carbon emissions for airports (level three) from the Airport Carbon Emissions Management Accreditation Program (ACA), making it the first airport in the Kingdom and the Middle East to obtain this certificate.

This confirms the implementation of the necessary standards and practices to reduce emissions and launch green initiatives that support this trend, he underlined.

Riyadh Airports’ hosting of WAGA 2024 coincides with the third edition of the Future Aviation Forum (FAF 2024), organized by GACA.

Wednesday’s sessions addressed the current state of the industry and the system’s future trends, emphasizing the importance of taking into account environmental sustainability and working to remove carbon in new, innovative ways.

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Oil Edges Higher as Demand Expectations Offset Dollar Strength

A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier
A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier
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Oil Edges Higher as Demand Expectations Offset Dollar Strength

A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier
A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024. REUTERS/Benoit Tessier

Oil prices firmed slightly on Monday as traders weighed support from expected summer demand and geopolitical tensions against a stronger dollar.
Brent crude futures were up 15 cents, or 0.2%, at $85.39 a barrel by 0850 GMT. US West Texas Intermediate crude futures were at $80.86 a barrel, up 13 cents, or 0.2%. Both benchmarks gained about 3% last week for their second consecutive weekly gains.
"The chief underlying reason behind the price strength ... is the growing confidence that global oil inventories will inevitably plunge during the summer in the northern hemisphere," said Tamas Varga of oil broker PVM, referring to seasonal demand for oil products.
Geopolitical risks in the Middle East and a ramp-up in Ukrainian drone attacks on Russian refineries are also underpinning oil prices, Reuters reported.
EU countries on Monday agreed a new package of sanctions against Russia over its war in Ukraine, including a ban on reloading Russian liquefied natural gas (LNG) in the EU for further shipment to third countries.
However, a strengthening US currency has made dollar-denominated commodities less attractive for holders of other currencies.
"The US dollar ... appears to have broken higher following better US PMI data on Friday night and political concerns ahead of the French election," said IG analyst Tony Sycamore.
The dollar index, measuring performance against six major currencies, climbed on Friday and was up slightly on Monday after data showed US business activity at a 26-month high in June.
In Ecuador, state oil company Petroecuador has declared force majeure on deliveries of Napo heavy crude for export after the shutdown of a key pipeline and oil wells owing to heavy rain, sources said on Friday.
In the United States, the number of operating oil rigs fell by three to 485 last week, the lowest since January 2022, Baker Hughes said in a report on Friday.