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Saudi Airports to Expand Global Reach at Routes World 2024 in Bahrain

Saudi airports will participate under the theme "Saudi Arabia the Global Hub" at Routes World 2024 in Bahrain. (SPA)
Saudi airports will participate under the theme "Saudi Arabia the Global Hub" at Routes World 2024 in Bahrain. (SPA)
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Saudi Airports to Expand Global Reach at Routes World 2024 in Bahrain

Saudi airports will participate under the theme "Saudi Arabia the Global Hub" at Routes World 2024 in Bahrain. (SPA)
Saudi airports will participate under the theme "Saudi Arabia the Global Hub" at Routes World 2024 in Bahrain. (SPA)

Saudi airports will participate under the theme "Saudi Arabia the Global Hub" at Routes World 2024, which will take place in Bahrain from October 6-8, 2024, the Saudi Press Agency reported on Friday.
The event, considered the aviation industry's premier global gathering, will bring together key players from airlines, airports, and industry stakeholders worldwide to shape the future of air services and promote global economic growth.
The Saudi participation includes some of the kingdom's most important aviation assets: MATARAT Holding, the King Salman International Airport, the Saudi Air Connectivity Program, the Red Sea International Airport, the Riyadh Airports Company, the Jeddah Airports Company, the Dammam Airports Company, and the Airports Cluster 2 Company.
Saudi Arabia's participation aims to transform its aviation sector into a global leader, positioning its airports to handle 330 million passengers and transport 4.5 million tons of cargo by 2030. This ambitious goal, aligned with the objectives of the National Aviation Strategy, is a testament to the industry's potential.
The effort also focuses on creating seamless travel experiences, enhancing customer satisfaction, ensuring safety and promoting environmental sustainability in the aviation industry.
The 29th edition of Routes World will feature panel discussions, workshops, and intensive meetings focused on advancing the regional and global air transport industry.
The sessions will also explore airlines' financial and operational performance, prospects for future growth, and critical issues such as privatization, mergers, sustainability initiatives, and environmental conservation.

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Gold in Holding Pattern as Markets Await US Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold in Holding Pattern as Markets Await US Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices slipped in thin trade on Monday, as markets awaited next week's US economic data and the potential impact of President-elect Donald Trump's return to office on the Federal Reserve's 2025 outlook.

Spot gold was down 0.1% to $2,618.99 per ounce as of 1315 GMT. US gold futures were steady at $2,632.30.

"Quiet day with lower liquidity across all asset classes likely due to the holiday season," UBS analyst Giovanni Staunovo said, adding that market participants will track upcoming US economic data to see if the economy is slowing, which would allow the Fed to keep cutting interest rates.

Fed Chair Jerome Powell said earlier this month that US central bank officials "are going to be cautious about further cuts" after a quarter-point rate reduction in December, in line with expectations, Reuters reported.

For insights into the health of the world's economy, traders await next week's US job openings data, the ADP employment report, the Fed's December FOMC meeting minutes, and the US employment report.

"We still see the same factors in place which supported gold in 2024 - ongoing central bank purchases with a desire to diversify their reserves and ongoing US rate cuts supporting investment demand," Staunovo said.

Gold has gained around 27% so far this year. It hit an all-time high of $2,790.15 on Oct. 31.

Markets expect significant US policy shifts in 2025, including potential tariffs, deregulation, and tax changes, after Trump returns to the White House in January.

Gold is considered a hedge against economic and geopolitical turmoil.

Spot silver was steady at $29.37 per ounce, platinum edged lower by 0.5% to $915.07, having hit an over three-month low on Friday.

Palladium fell 0.1% to $911.10.