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King Khalid International Airport Wins World’s Most Improved Airport at Skytrax Awards 2026

The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA
The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA
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King Khalid International Airport Wins World’s Most Improved Airport at Skytrax Awards 2026

The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA
The recognition was announced during the Skytrax World Airport Awards ceremony, London - SPA

King Khalid International Airport, managed and operated by Riyadh Airports Company, has achieved global recognition after being named “World’s Most Improved Airport” among more than 560 airports worldwide in 2026. It also received the award for Best Airport in the 30–40 million passengers category, ranked 14th on the list of the world’s best airports, and placed second for Best Airport Staff in the Middle East.

The recognition was announced during the Skytrax World Airport Awards ceremony, held in London on March 18, as part of the Passenger Terminal Expo “PTE World 2026,” with the participation of leading aviation industry figures and experts from around the world, SPA reported.

The achievement reflects the significant progress the airport has made across various areas, driven by a series of development initiatives that have enhanced the passenger experience and elevated service quality in line with the highest international standards, resulting in a qualitative leap in operational efficiency and performance.

This milestone underscores the Kingdom’s accelerating transformation across multiple sectors, including aviation, which continues to grow in line with the objectives of Saudi Vision 2030, aimed at positioning the Kingdom as a global logistics hub and a key center for domestic and international travel.

CEO of Riyadh Airports Company Ayman AboAbah said the achievements reflect the company’s firm commitment to advancing operational services and airport infrastructure.

Meanwhile, Skytrax CEO Edward Plaisted said the recognition reflects the scale of development achieved at King Khalid International Airport, noting that travelers are experiencing clear improvements across all stages of their journey.

He added that the airport’s rise to 14th place in the list of the world’s top 100 airports underscores the strength and impact of these developments, the efficiency of the upgrade plans, and their success in enhancing passenger experience, reinforcing its position as a key regional travel hub, and embodying the scale of its exceptional transformation.

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Business

IMF Says it's Updating Assessment of US Economy to Reflect Impact of Iran War

An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo
An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo
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IMF Says it's Updating Assessment of US Economy to Reflect Impact of Iran War

An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo
An American Flag on the US Capitol Building is seen in Washington, US, August 31, 2023. REUTERS/Kevin Wurm/File Photo

The International Monetary Fund on Thursday said it is updating a recently completed review of the US economy to reflect the impact of the Iran war, Reuters reported.

IMF spokeswoman Julie Kozack said the updated assessment would be considered by the IMF's board in coming weeks and then published.

Business

Czech Central Bank Keeping Options open as Iran War Clouds Rate Prospects

People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo
People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo
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Czech Central Bank Keeping Options open as Iran War Clouds Rate Prospects

People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo
People leave the Czech National Bank building in central Prague December 9, 2011. REUTERS/Petr Josek/File Photo

The Czech National Bank (CNB) held interest rates steady as expected on Thursday and said it was keeping options open as it monitors the economic fallout from the conflict in the Middle East.

Since the United States and Israel launched strikes on Iran on February 28, oil prices have jumped above $100 a barrel, raising global risks of higher inflation and an economic hit.

Czech central bank policymakers voted unanimously to keep the main rate steady at 3.50% on Thursday, in line with forecasts from all 17 analysts in a Reuters poll last week.

The poll's median forecast saw interest rates remaining on hold for the rest of the year, although money markets have priced in chances of a hike. Governor Ales Michl said after the decision that the conditions for fighting inflation are now better than during the previous energy and inflation shock following Russia's invasion of Ukraine in 2022, as policy is now tighter and rates are higher than inflation.

He added that inflation expectations remain anchored, and it was important to keep them low.

"We are acting restrictively in the economy," he said. "On the other hand, we are monitoring the situation, we are keeping all options open."

The Czech crown was a touch weaker after the bank's decision but largely steady on the day, at 24.49 to the euro, and around its lowest levels since September after this month's declines.

INFLATION STILL SEEN STAYING LOW

The central bank had discussed a possible rate cut at its last meeting in February, before the Iran war. It last cut rates in May 2025 as part of a 350-basis-point easing cycle.

Inflation in the Czech Republic has fallen below the bank's 2% target, hitting a headline rate of 1.4% year-on-year in February with help from a government measure to ease energy bills. That provides a cushion to potential shock from higher oil prices, and Michl said inflation should stay below 2% this year, according to updated forecasts partly incorporating higher oil prices, even though core inflation should remain elevated in the quarters ahead.

The central bank will be looking at the secondary impacts of a higher oil price to see if it soaks through to other segments.

Business

Treasury Chief Says US May 'Unsanction' Iran Oil Already Being Shipped

Ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri)
Ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri)
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Treasury Chief Says US May 'Unsanction' Iran Oil Already Being Shipped

Ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri)
Ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri)

US Treasury Secretary Scott Bessent said Thursday that Washington might "unsanction" Iranian oil that is already being shipped, as energy prices soar due to the war in the Middle East.

Bessent's comments to Fox Business came as oil and gas prices made a renewed surge after Iran hit the world's biggest liquefied natural gas (LNG) facility in Qatar and threatened to destroy the region's energy infrastructure, AFP reported.

Bessent added in the interview that the US government could also release more oil from its strategic reserves.

US President Donald Trump's administration has been scrambling to rein in rocketing energy costs after US-Israeli strikes on Iran on February 28.

Tehran's retaliation brought commercial shipping through the Strait of Hormuz to a virtual halt, snarling energy supply chains.

Around a fifth of global crude oil and liquefied natural gas passes through the critical waterway during peacetime.

Already, international benchmark Brent surged 10 percent earlier before easing to a 5.0 percent increase at $112.76 per barrel.

Recently, the United States also temporarily allowed the sale of sanctioned Russian oil that is at sea. On Wednesday, Trump temporarily waived a century-old maritime shipping law in an attempt to help ease energy prices.