Saudi GACA Revenues Jump 5%

Saudi GACA Revenues Jump 5%
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Saudi GACA Revenues Jump 5%

Saudi GACA Revenues Jump 5%

Saudi Arabia’s General Authority of Civil Aviation (GACA) revealed that the Kingdom’s aviation sector is undergoing core changes, especially as it expands its network of international airports.

The GACA pointed out to seven domestic airports being turned international, bringing the number of international airports in the Kingdom up to 13. A few years ago, the Kingdom only had three international airports.

This upgrade has contributed to an overall 5 percent increase in revenues.

In light of the growing importance of the airport industry, Saudi Arabia sees the civil aviation sector as a leading economic contributor that directly influences GDP.

According to the GACA, the aviation sector in the Kingdom saw an overall increase in revenues, which included subsidiaries, during 2018. Revenues amounted to more than SR8.8 billion ($2.3 billion), an increase of approximately 5 percent when compared to 2017.

Official data showed that 2018 saw an 8 percent jump in the number of passengers and flight traffic across the Kingdom’s airports.

The number of passengers in 2018 exceeded 99.86 million, while the number of flights at Saudi airports reached 771,800, an increase of 4.1 percent compared to 2017.

The GACA aims to develop and improve services provided to passengers at the Kingdom's airports.

In a comprehensive report, the GACA showed that the satisfaction rate of passengers with the quality of services provided at airports in 2018 was at 70 percent.

The number of applicants surveyed by the report reached more than 8 million passengers.



World Bank, IAEA to Cooperate on Nuclear Power Development, Safety

International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes
International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes
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World Bank, IAEA to Cooperate on Nuclear Power Development, Safety

International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes
International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes

The World Bank and the United Nations nuclear watchdog on Thursday launched a new agreement to cooperate on the safe development and financing of nuclear power for developing countries, including extending the life of existing reactors.

World Bank President Ajay Banga and International Atomic Energy Agency Director General Rafael Grossi were due to sign the memorandum of understanding in Paris that is part of the bank's return to nuclear energy financing.

According to Reuters, he IAEA and the World Bank said in a statement that they agreed to work together to build knowledge in the nuclear field, including expanding the World Bank Group's understanding of nuclear safety, security, energy planning, and waste management.

The institutions also said they would work together to extend the lifespan of existing nuclear power plants as a cost-effective source of low-carbon power and accelerate the development of small modular reactors, saying that they have potential for widespread adoption in developing countries.

In prepared remarks, Banga said that reliable baseload power provided by nuclear energy was essential for job-generating sectors such as infrastructure, agribusiness, health care, tourism and manufacturing.

"Jobs need electricity. So do factories, hospitals, schools, and water systems. And as demand surges — with AI and development alike — we must help countries deliver reliable, affordable power," Banga said.

"That's why we're embracing nuclear energy as part of the solution — and re-embracing it as part of the mix the World Bank Group can offer developing countries to achieve their ambitions."

Grossi said that the "landmark" agreement was "a sign of the world's return to realism on nuclear power" and would open the door for other multilateral development banks and private investors to consider nuclear power as a viable tool for energy security.

He called the partnership a "crucial first step" to clearing the financing path for small modular reactor technology, which has the potential to cleanly power developing economies.