Saudia Seeks to Compete Globally Through a Transitional Leap

saudia
saudia
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Saudia Seeks to Compete Globally Through a Transitional Leap

saudia
saudia

Ghassan bin Abdulrahman al-Shabal, chairman of the board of directors of Saudi Arabian Airlines, has said that the national carrier is broadening its global reach.

Although Saudia went through several years of relative decline in terms of performance, there is currently an insistence to present the airline in its best shape at the local and international levels as part of its transformation plan.

Al-Shabal told Asharq Al-Awsat newspaper that air transportation plays a key role in any economic revival. Therefore Saudia Airlines has a huge responsibility - in line with the Saudi Vision 2030 - in upgrading its services and its competitiveness in addition to reducing costs and growing locally and internationally.

Speaking about the challenges facing Saudia, Al-Shabal affirmed that the carrier is continuously developing services to be unique and attractive to passengers.

He added that infrastructure, such as the expansion of King Abdulaziz International Airport, also plays a vital role in the performance of Saudia.

As for the huge spending of the airline, Al-Shabal told Asharq Al-Awsat that there are no doubt financial concerns but without a decision to purchase more airplanes, which is considered an investment, the company would not be able to improve.

His remarks were made on the sidelines of a graduation ceremony of 115 Saudi youths.

In his turn, Director General of Saudia Saleh bin Nasser al-Jasser showcased some of Saudia’s achievements.

He said that up to one million pilgrims were in 2017 transferred comfortably and offered a package of comprehensive services.

Jasser added that Saudia continues its preparations to move to the new King Abdulaziz International Airport and looks forward to achieving a huge and unprecedented leap in services. 



Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
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20

Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold prices fell on Friday and were on track for a weekly decline, as an overall stronger dollar and the prospect of fewer US interest rate cuts offset support from rising geopolitical risks in the Middle East.

Spot gold slipped 0.8% to $3,333.99 an ounce, as of 0604 GMT, and was down 2.5% for the week so far.

US gold futures shed 1.4% to $3,361.80.

Describing the situation in the Middle East as "fluid", Kelvin Wong, senior market analyst, Asia Pacific, at OANDA, said it is causing traders to avoid taking aggressive positions both on the long and the short side of the trade spectrum, reported Reuters.

US President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on Tehran to come to the negotiating table.

Meanwhile, Trump reiterated his calls for the US Federal Reserve to cut interest rates, saying it should be 2.5 percentage points lower.

The Fed held rates steady on Wednesday, and policymakers retained projections for two quarter-point rate cuts this year.

"Macroeconomic developments, particularly steady yields and renewed USD strength, have not supported the (gold) price," analysts at ANZ said in a note.

"Rising inflation expectations and the Fed's cautious stance have weighed on market expectations around the number of rate cuts this year."

The dollar was set to log its biggest weekly rise in over a month on Friday. A stronger greenback makes gold more expensive for other currency holders.

Elsewhere, spot silver slipped 2.1% to $35.61 per ounce, while palladium fell 0.8% to $1,042.04. Platinum fell 1.9% to $1,282.72, but was heading for its third straight weekly rise.