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 on Track for Weekly Gain on Trump Uncertainty; US Jobs Report Awaited

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold on Track for Weekly Gain on Trump Uncertainty; US Jobs Report Awaited

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices inched higher on Friday as uncertainty around US President-elect Donald Trump's policies firmed demand for bullion, while investors awaited a key jobs report to assess the Federal Reserve's rate cut trajectory.
Spot gold edged 0.2% higher to $2,675.49 per ounce as of 0725 GMT. Bullion has gained more than 1% so far this week, set for its highest weekly jump since mid-November. US gold futures rose 0.3% to $2,698.30.
The US non-farm payrolls report is due at 1330 GMT. According to a Reuters survey, payrolls are expected to have increased by 160,000 in December, following a jump of 227,000 in November.
"We expect gold to drop a little in case the non-farm payroll report comes on a higher side," said Jigar Trivedi, senior analyst at Reliance Securities.
"Gold found support after a weaker-than-expected private employment report for December reinforced the notion that the Fed may need to adopt a less cautious approach to rate cuts," Trivedi said.
Kansas City Fed President Jeff Schmid on Thursday signaled a reluctance to cut rates again as the Fed faces a resilient economy and inflation that remains above its 2% target.
Trump's proposed tariffs and immigration policies may also prolong the fight against inflation.
Traders now expect the first Fed rate cut this year in either May or June, according to the CME FedWatch Tool.
Gold acts as a hedge against inflation, but higher interest rates reduce the appeal of holding the bullion.
Spot silver was up 0.3% to $30.2 per ounce and the COMEX contract was trading at $31.17, both near one-month peaks.
"Our view is that the incoming US administration will tailor economic and trade policy to promote national prosperity, and that silver will recover along with gold in the second half (of 2025) to $35 per ounce," Deutsche Bank said in a note.
Platinum shed 0.4% to $955.97 and palladium added 0.9% to $934.16. All three metals were also set for weekly gains.