Aviation Meeting in Riyadh Draws Emphasis on Enhancing Capabilities

Saudi Arabia chairs the second meeting of the Steering Committee of Regional Safety Oversight Organization for Middle East and North Africa (MENA RSOO). (Asharq Al-Awsat)
Saudi Arabia chairs the second meeting of the Steering Committee of Regional Safety Oversight Organization for Middle East and North Africa (MENA RSOO). (Asharq Al-Awsat)
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Aviation Meeting in Riyadh Draws Emphasis on Enhancing Capabilities

Saudi Arabia chairs the second meeting of the Steering Committee of Regional Safety Oversight Organization for Middle East and North Africa (MENA RSOO). (Asharq Al-Awsat)
Saudi Arabia chairs the second meeting of the Steering Committee of Regional Safety Oversight Organization for Middle East and North Africa (MENA RSOO). (Asharq Al-Awsat)

President of the General Authority of Civil Aviation (GACA) Abdulaziz bin Abdullah Al-Duailej chaired in Riyadh on Tuesday the second meeting of the Steering Committee of Regional Safety Oversight Organization for Middle East and North Africa (MENA RSOO), with the participation of International Civil Aviation Organization (ICAO), Arab Civil Aviation Organization and officials in charge of civil aviation authorities in member states.

The meeting was held on the sidelines of the Future Aviation Forum, organized by GACA over three days at the King Abdulaziz International Conference Center in Riyadh.

The meeting aimed at following up on the outcomes of steps to announce establishing the organization and embarking on its works, the most important of which is supporting member states in implementing the SSP program to enhance the capabilities of countries in the field of safety oversight.

The meeting looked into areas to realize regional priorities and goals and compliance to international safety oversight requirements, in addition to supporting the implementation of the ICAO General Assembly Resolution No. A39~12 and supporting ICAO's international plans for air safety and navigation GASP & GANP.

Al-Duailej welcomed participants from the member states of the organization, expressing hope for the meeting to reach better experiences and practices in the field of air safety oversight in civil aviation, benefit from expertise and personnel, apply the highest levels of air safety and raise awareness on the latest developments for aviation safety in the MENA region.

He also noted that the meeting is an opportunity for communication and reaching an agreement on the future of the regional organization and to discuss joint issues, praising the continuous efforts of ICAO over the past decade in supporting the establishment of MENA RSOO.

During the meeting, participants exchanged opinions and proposals and means to boost coordination and cooperation among civil aviation authorities and commissions in the region, in addition to following up on the implementation of the outcomes of the first meeting of the steering committee held in 2018, and accrediting the outcomes of the second meeting of the technical committee.



Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
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Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT

Gold prices fell to a near two-week low on Tuesday as risk appetite improved after US President Donald Trump said Iran and Israel had agreed to a ceasefire, denting demand for safe-haven assets.

Spot gold was down 0.9% at $3,338.39 an ounce, as of 0526 GMT, after hitting its lowest level since June 11 earlier in the session, Reuters reported.

US gold futures slipped 1.2% to $3,352.60.

"It seems like there's a good bit of geopolitical risk that's exiting the market here near term after, of course, we have signs of de-escalation between the US and Iran," said Ilya Spivak, head of global macro at Tastylive.

Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day conflict that saw millions flee Tehran and prompted fears of further escalation in the region.

There was no immediate comment from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks.

Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire.

Meanwhile, US Federal Reserve Vice Chair for Supervision Michelle Bowman said on Monday that the time to cut interest rates is approaching amid potential risks to the job market.

Investors await testimony by Fed Chair Jerome Powell before the House Financial Services Committee later on Tuesday. Powell has been cautious about signaling near-term easing.

"The bias for gold prices is higher, but we might see a correction in the near-term and an uptick in the dollar if Powell convinces markets that they're not going to cut more than twice this year," Spivak said.

Gold tends to thrive in a low-interest-rate environment.

Elsewhere, spot silver eased 0.1% to $36.08 per ounce, platinum fell 0.3% to $1,290.67, while palladium slipped 1.3% to $1,062.94.