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GACA President to Asharq Al-Awsat: We are Moving towards Automating Saudi Airports

The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)
The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)
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GACA President to Asharq Al-Awsat: We are Moving towards Automating Saudi Airports

The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)
The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)

The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, said that Saudi Arabia is one of the advanced countries in digital government, technical connectivity, and access to information, revealing the Kingdom’s efforts to benefit from the latest technologies in the field of automating airport operations with the aim of facilitating the traveler’s experience.
In remarks to Asharq Al-Awsat, Al-Duailej explained that the authority has recently automated many processes at airports, including obtaining a boarding pass electronically and dropping luggage without human intervention.
The chairman of GACA was speaking at the conclusion of the Future Aviation Forum 2024, on Wednesday.
The three-day event was held in Riyadh with the participation of more than 30 ministers, 77 leaders of civil aviation authorities and heads of air transport companies, as well as 7,000 industry experts from more than 120 countries.
Al-Duailej noted that the electronic gates service was activated at King Khalid International Airport in Riyadh during the month of Ramadan, adding that GACA was working to introduce other automated services.
He also highlighted progress towards achieving the country’s goals of doubling the number of passengers, to exceed 330 million in 2030.
The Saudi official stated that the Kingdom enjoys a strategic geographical location and aims to be a hub connecting the East to the West, especially in the field of aviation and logistics services. From this standpoint, he stressed that the country seeks to double air freight from less than one million tons in 2019 to more than 4.5 million tons by 2030.
He continued that Saudi Arabia aims to increase the number of direct air stations from 148 stations in 2023 to 250 global destinations in 2030.
The Saudi strategy for the civil aviation sector focuses on creating a global investment environment and shaping the future of the aviation industry in Saudi Arabia, with the aim to transform the country into a leader in the region and the world.

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Gold Eyes Best Quarter in over Eight Years

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Eyes Best Quarter in over Eight Years

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold halted its record run on Friday but remained on track for its best quarter since 2016 after a rally catalysed by an outsized US Federal Reserve interest rate cut, while markets braced themselves for a crucial inflation report due later in the day.

Spot gold was down 0.1% at $2,666.50 per ounce as of 1115 GMT, below the all-time peak of $2,685.42 hit in the previous session. It is heading for its best quarter since the first three months of 2016.

US gold futures fell 0.2% to $2,688.90, Reuters reported.

"The market at this point in time has priced in all the good news and there's also some hesitancy from fresh buyers to get involved at these record high levels," said Ole Hansen, head of commodity strategy at Saxo Bank.

Bullion has risen 29% so far this year, hitting successive record peaks after last week's half-percentage-point cut by the Federal Reserve and the stimulus measures announced by China earlier this week.

Silver prices surged, tracking bullion's strong performance, though some analysts warn that the rally may fade.

"Overall, industrial demand is still supportive for silver. But we need to have a stronger economic performance in China as well as in other developed countries," said ANZ commodity strategist Soni Kumari.

The surge in silver prices is more a spillover impact from gold, Kumari said.

Spot silver eased 0.1% to $31.98 per ounce, after hitting its highest since December 2012 at $32.71 on Thursday. It is set for a third straight week of gains.

"I do believe silver will continue to outperform gold. But as we all know, wherever gold goes, silver tends to go, but faster," Hansen added.

Both gold and silver serve as safe-haven investments, but the latter has more industrial applications, so tends to underperform during recessions and outperform when economies expand.

Inflows into gold exchange-traded funds, particularly from Western investors, are set to rise in coming months, adding yet more positive stimulus for already record high bullion prices. Some banks expect gold to rise towards $3,000.

In other metals, platinum was up 0.5% at $1,012.40 but palladium fell nearly 1.5% to $1,031.75.