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Saudi Arabia Announces Opening of Neom Bay Airport

Neom Bay airport (Asharq Al-Awsat)
Neom Bay airport (Asharq Al-Awsat)
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Saudi Arabia Announces Opening of Neom Bay Airport

Neom Bay airport (Asharq Al-Awsat)
Neom Bay airport (Asharq Al-Awsat)

Saudi Arabia's General Authority of Civil Aviation announced on Tuesday the opening of Neom Bay Airport in the northern region of Sharma.
 
The Authority said that the airport has been licensed and was ready to receive commercial flights starting next Sunday, after the first phase of development work was completed and was registered by the International Air Transport Association (IATA) earlier with the code “NUM.”

Neom Bay Airport will conduct regular flights to investors and employees of Saudi Arabia’s giant Neom project. It is also considered a new window on the Red Sea. It is one of the most modern and important airports in the Middle East region and the most geographically distinct since it is located on the borders of three countries: Saudi Arabia, Jordan and Egypt.
 
The airport establishment comes within Saudi Vision 2030 and aims to support the development of the national economy by creating a modern and global logistics platform for organizations and individuals around the world.

The total area of the airport is 3,643 sq. meters and has a hangar to accommodate as many as six aircraft.

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Bitcoin Rises Above $94,000 for First Time

FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
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Bitcoin Rises Above $94,000 for First Time

FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
FILE PHOTO: A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

Bitcoin rose to a record high above $94,000 as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt boosted expectations of a crypto-friendly regime under his incoming administration.
Bitcoin, the world's biggest and best-known cryptocurrency, has more than doubled this year. It was last at $93,521 on Wednesday, having hit a high of $94,078 in early Asian trading hours.
The Financial Times said Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, which is backed by NYSE-owner Intercontinental Exchange.
"Trump's seeming interest to push further into crypto on a personal level has contributed to optimism that crypto will be a top priority when Trump takes office," said Stéphane Ouellette, chief executive officer of crypto trading firm FRNT Financial.
Earlier this week, the Wall Street Journal reported Trump was meeting privately with the crypto exchange CEO Brian Armstrong, further aiding sentiment.
Cryptocurrencies have soared since the Nov. 5 US election as traders bet President-elect Trump's promised support for digital assets would lead to a less restrictive regulatory regime.
Options trading over BlackRock's spot bitcoin ETF on the Nasdaq made a strong debut on Tuesday with a bullish call-to-put ratio of 4.4:1, according to QCP Capital.
"We expect these options to be popular and, in turn, may positively influence trading volumes of these ETPs (exchange traded products) as the underlying," said Kenneth Worthington, analyst at J.P.Morgan.
The growing excitement has taken the global cryptocurrency market's value above $3 trillion to a record high, based on analytics and data aggregator CoinGecko.
US spot bitcoin exchange traded products have attracted about $4.2 billion in inflows since Trump's election victory, about 15% of the total inflows since the products were launched on US stock exchanges in January, Reuters reported.
Chris Weston, head of research at Australian online broker Pepperstone, said there is real underlying buying pressure for bitcoin, and "another kick higher should bring in a fresh chase from those who like to buy what's strong".