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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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Fed's Goolsbee: Don't Want to Tighten Longer Than Necessary

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C. (Reuters)
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C. (Reuters)
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Fed's Goolsbee: Don't Want to Tighten Longer Than Necessary

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C. (Reuters)
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C. (Reuters)

Federal Reserve Bank of Chicago President Austan Goolsbee said on Friday that the US economy is not showing signs of overheating, so central bank officials should be wary of keeping restrictive policy in place longer than necessary.

“You don't want to tighten any longer than you have to,” Goolsbee told National Public Radio in an interview. “And the reason you'd want to tighten is if you're afraid the economy is overheating, and this is not what an overheating economy looks like to me.”

Goolsbee declined to say whether he would press for an interest rate cut at the Fed's coming meeting on Sept. 17-18.

But his remarks were consistent with his recent comments that officials need to be increasingly attuned to signs like the rising unemployment rate and increases in credit card delinquencies that suggest the economy is slowing to a point where policy should not be as restrictive as it is now.

The Fed has held its policy rate in the current range of 5.25% to 5.50% since July 2023 after raising to that level at a breakneck pace over the prior 16 months to combat the worst outbreak of inflation since the 1980s.

Financial markets are now 100% priced for a rate cut next month, with the main debate being over what size - a quarter percentage point or a half point. Odds now favor the smaller cut, but a big signal on the Fed's next move is likely to come next Friday when Fed Chair Jerome Powell delivers a keynote address at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming.