flynas Receives its 53rd of 120 Airplanes in Airbus Order

flynas took delivery of the 53rd new aircraft out of its order for 120 A320neo aircraft from Airbus. (SPA)
flynas took delivery of the 53rd new aircraft out of its order for 120 A320neo aircraft from Airbus. (SPA)
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flynas Receives its 53rd of 120 Airplanes in Airbus Order

flynas took delivery of the 53rd new aircraft out of its order for 120 A320neo aircraft from Airbus. (SPA)
flynas took delivery of the 53rd new aircraft out of its order for 120 A320neo aircraft from Airbus. (SPA)

flynas, a Saudi air carrier and the leading low-cost airline in the Middle East and the world, took delivery of the 53rd new aircraft out of its order for 120 A320neo aircraft from Airbus.

The move is part of flynas' "We connect the world to the Kingdom" strategic plan that is in line with the National Civil Aviation Strategy to connect Saudi Arabia with 250 International destinations, accommodate 330 million passengers, and host 100 million tourists yearly by 2030.

The 53rd airplane of the next-generation model touched down at King Khalid International Airport in Riyadh. This will consolidate flynas' position as the leading low-cost airline in the Middle East, and one of the top four low-cost airlines in the world, according to Skytrax.

In parallel with upscaling the flynas fleet, taking delivery of the new aircraft contributed to generating hundreds of quality jobs in the aviation sector directly and indirectly, as flynas recently announced the opening of applications in several programs, including the Future Pilots Program, Future Engineers Program, and the Cabin Crew Program for Saudi men and women.

Boosting A320neo aircraft share in the flynas fleet reinforces the leading low-cost carrier's commitment to sustainability and environmental protection. The A320neo is considered the most advanced, environmentally friendly, and fuel-efficient single-aisle airplane worldwide.



Gold Hits Record High on US Rate Cut Bets

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
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Gold Hits Record High on US Rate Cut Bets

A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweller shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold prices scaled an all-time high on Wednesday, with recent comments from Federal Reserve officials boosting bets of a US interest rate cut in September.

Spot gold was up 0.1% at $2,470.89 per ounce, as of 0046 GMT, after hitting a record peak of $2,473.18 earlier in the session. US gold futures rose 0.3% to $2,473.70.

Markets are fully pricing in a rate cut of at least 25 basis points by the Fed at its September meeting, according to CME's FedWatch Tool, Reuters reported.

Fed Chair Jerome Powell said on Monday recent inflation readings "add somewhat to confidence" that the pace of price increases is returning to the Fed's target in a sustainable fashion, remarks that suggest a turn to rate cuts may not be far off.

The International Monetary Fund said on Tuesday that the global economy is set for modest growth over the next two years amid cooling activity in the United States, a bottoming-out in Europe and stronger consumption and exports for China, but risks to the path abound.