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Cluster 2 Airports Inaugurates First Flight from Cairo to Arar Airport in Saudi Arabia

Inauguration of the first flight from Cairo to Arar International Airport
Inauguration of the first flight from Cairo to Arar International Airport
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Cluster 2 Airports Inaugurates First Flight from Cairo to Arar Airport in Saudi Arabia

Inauguration of the first flight from Cairo to Arar International Airport
Inauguration of the first flight from Cairo to Arar International Airport

Cluster 2 Airports Company announced the launch of the first international flights from Cairo International Airport to Saudi Arabia’s Arar International Airport on Saturday evening.
Achieved under the supervision of Governor of the Northern Borders Region Prince Faisal bin Khalid bin Sultan bin Abdulaziz, the event was attended by senior officials from Cluster 2 Airports Company, representatives from Nile Air, and several government agencies operating at the airport, the Saudi Press Agency said.
CEO of Cluster 2 Airports Company Eng. Ali Masrahi stated that the launch is a significant achievement that reflects commitment to achieving one of the targets of the transportation and logistics strategy, as well as the National Aviation Strategy derived from Saudi Vision 2030.
It is aimed at developing the infrastructure of Saudi airports to provide the best services to travelers, Masrahi said. He noted that the flight underscores their ongoing efforts to enhance the status of Saudi airports as key hubs for air transportation in the region.
Eng. Masrahi extended appreciation to the Governor of the Northern Borders Region, for his continuous support and oversight and for his ongoing efforts to attract additional international flights to Arar International Airport. He also acknowledged the governor’s role in enhancing the passenger experience across all airports in the Northern Borders Region.
This flight is expected to facilitate passenger movement between the Kingdom and Egypt and strengthen the close trade and cultural exchange between the two brotherly countries.
Cluster 2 Airports Company manages 22 domestic and international airports within the Kingdom and continues to work on expanding the international flight network from the various airports it operates.

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Japan Imposes New Regulations on Chip Supply-Chain Network

Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)
Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)
TT
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Japan Imposes New Regulations on Chip Supply-Chain Network

Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)
Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)

Japan has decided to apply foreign trade regulations to chipmaking equipment as part of its efforts to secure stable supply chains, the Finance Ministry said Friday.

Foreign investors are now required to give prior notice when conducting direct investment in equipment tied to chipmaking, including when acquiring a 1% or bigger stake in a listed company or buying shares in an unlisted company, the ministry said in a statement, according to Bloomberg.

The move also aims to address the risk of technology leakage and keep commercial technologies from being used for military purposes, it said.

Other products added to the list of so-called “core business sectors” include advanced electronic components, machine tool components, marine engines, fiber optic cables and multifunctional machines, according to the ministry.

The targeted move will help the government enhance national security while its impact on companies is expected to be limited, a Finance Ministry official told Bloomberg.

The move comes as Japan tries to revive its own capacity to produce semiconductors as a pillar of its economic security strategy.

Japan has already earmarked some ¥4 trillion ($26.9 billion) over the last three years to recharge its semiconductor sectors and promote digitalization.

In the markets, Japan's Nikkei share average climbed nearly 3% on Friday and notched its best week in more than four years, as strong US retail sales data soothed fears of a recession in the world's largest economy and Japan's top trading partner.
The Nikkei closed 3.6% higher at 38,062.67, locking in its second-largest daily gain for the year, while the broader Topix finished up about 3% at 2,678.60.

The Nikkei logged its biggest weekly gain since April 2020, rising over 8%, buoyed by easing concerns about the state of the US economy, a pause in the yen's rapid appreciation and a pick-up in Japan's economic growth.

Wall Street's main indexes closed higher on Thursday after US retail sales increased 1% in July following a downwardly revised 0.2% drop in June.

The rally was broad-based, with 219 of the Nikkei's 225 constituents advancing against 5 decliners, while shares of many big names surged.

Nikkei heavyweight Fast Retailing jumped 6.2%, while chip-related share Tokyo Electron gained 4.8%, along with peer Advantest, adding 6.8%.

Meanwhile, the yen weakened against the dollar overnight in a boost to Japan's export-related shares like automaker Toyota Motor, which rose about 2%.

The Nikkei fell more than 12% on Aug. 5 in its biggest single-day decline since Black Monday amid a storm of concerns, including US recession fears sparked by a weak jobs report and a sharply stronger yen.

It has since clawed back those losses but remains well off an all-time peak of 42,426.77 touched in mid-July.

Among individual shares on Friday, electrical component maker Fujikura rallied over 11% to become the biggest percentage gainer.