Arab Financial Markets Improve Amid Trump Inauguration

A Saudi dealer monitors the stock market in Riyadh. (Reuters)
A Saudi dealer monitors the stock market in Riyadh. (Reuters)
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Arab Financial Markets Improve Amid Trump Inauguration

A Saudi dealer monitors the stock market in Riyadh. (Reuters)
A Saudi dealer monitors the stock market in Riyadh. (Reuters)

Arab financial markets reacted positively to the inauguration of US President Donald Trump for a new term on Monday, despite concerns from some nations about the tariffs he plans to impose. The tariffs are expected to affect global trade flows and pricing.

Trump’s swearing-in also coincided with the start of a ceasefire between Israel and Hamas on Sunday, which is set to have a favorable impact on market sentiment.

Experts told Asharq Al-Awsat that easing geopolitical tensions in the Middle East has played a role in boosting economic stability across Arab markets. They anticipate significant improvements in market performance throughout the region, particularly in the Gulf, in the near future—raising optimism for robust economic growth.

Mohammed Al-Farraj, Senior Head of Asset Management at Arbah Capital, noted that global economic forecasts point to noticeable improvement following Trump’s inauguration.

In remarks to Asharq Al-Awsat, Al-Farraj attributed this optimism to several key factors, including heightened political stability, strengthened supply chains, and supportive monetary and fiscal policies introduced by the new US administration.

The gradual reduction of tariffs on US imports is expected to have a major impact on the labor market and inflation, fostering a more stable and growth-friendly economic environment for Arab markets, particularly those in the Gulf, he went on to say. The Saudi Stock Exchange (Tadawul) is poised to lead this growth.

Dr. Salem Baajajah, an economic expert and academic at King Abdulaziz University, told Asharq Al-Awsat that Trump’s inauguration is likely to generate substantial gains for US markets due to his pro-growth policies. This, in turn, will positively influence global financial markets, especially in the Gulf.

Reduced geopolitical tensions in the Middle East—along with the Gaza truce and prisoner exchange agreements—have further strengthened economic stability across Arab markets, he added.

Meanwhile, most Arab and Gulf stock markets closed higher on Monday, achieving varying levels of gains.

The Saudi Stock Exchange’s main index (TASI) ended Monday’s session up by 0.40%, closing at 12,379 points—its highest level since May 8. The increase was driven by a 4.4% rise in Aqua Power shares, while Aramco, the heaviest-weighted stock on the index, remained flat at SAR 28.15.

The Qatari index climbed 0.40% to close at 10,508 points, supported by a 2.2% rise in Industries Qatar shares. Kuwait’s index rose by 0.53%, while the Abu Dhabi Securities Exchange saw a modest increase of 0.08%.

Dubai’s main index, however, declined by 0.30%, impacted by a 2.9% drop in Salik shares. Similarly, Bahrain’s index fell slightly by 0.08%.

Outside the Gulf, Egypt’s blue-chip index slipped 0.37%, weighed down by a 0.9% decline in shares of Commercial International Bank. Morocco’s Casablanca Stock Exchange index dropped by 0.33%. Conversely, Oman’s Muscat Stock Exchange posted a slight gain of 0.03%.



GACA Issues Air Carrier and Airport Classifications for December 2024

GACA Issues Air Carrier and Airport Classifications for December 2024
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GACA Issues Air Carrier and Airport Classifications for December 2024

GACA Issues Air Carrier and Airport Classifications for December 2024

The General Authority of Civil Aviation (GACA) has issued its December classification of air transport service providers and airports to inform passengers about their performance and help them make informed choices. The monthly assessment is based on the number of complaints filed with GACA by travellers.
According to GACA, 1,074 complaints were filed by travellers on Saudi air carriers in December 2024. SAUDIA had the fewest complaints among the airlines, 20 per 100,000 travellers, and a complaint resolution rate of 99%. Flyadeal came second, with 21 complaints per 100,000 travellers and a resolution rate of 100%. Flynas came third with 24 complaints per 100,000 travellers and a resolution rate of 100%. The most common complaints in May were about luggage, flights, and tickets, SPA reported.
Among international airports with more than six million passengers annually, King Abdulaziz International Airport in Jeddah had the fewest complaints, 20 per 100,000 travellers, and a resolution rate of 96%.
Among international airports with less than six million passengers annually, Prince Sultan bin Abdulaziz Airport in Tabuk had the fewest complaints, one per 100,000 travellers, and a resolution rate of 100%.
Among domestic airports, Sharurah Domestic Airport had the fewest complaints, two per 100,000 passengers, and a resolution rate of 100%.
GACA reiterated that the monthly classification report aims to help passengers make informed choices, promote transparency, demonstrate its credibility and keenness to deal with travellers' complaints, stimulate fair competition, and develop and improve services.
According to the authority, multiple communication channels are open 24/7 to enable interaction with travellers and airport visitors. They are the call Center number 1929, WhatsApp service at 0115253333, email [email protected], social media accounts, and GACA's website.
Through these channels, the authority receives complaints concerning boarding passes, employee behaviour, and services for persons with disabilities and limited mobility.
In support of its partners, the airports, GACA prepared a booklet containing guidelines on how to deal with traveller complaints. The booklet, which has been circulated among airport operators, sets out service agreements and the rules that must be adhered to for all types of complaints and inquiries.
The authority also trains, through regularly held workshops, employees of national airlines and ground service companies that deal directly with travellers on how to comply with passenger protection regulations.