Saudi Arabia Calls for Adoption of Sustainable Global Aviation

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)
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Saudi Arabia Calls for Adoption of Sustainable Global Aviation

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser announced that the Kingdom would be hosting the Future of Aviation conference every two years, revealing efforts to find new partners and forge major aviation agreements.

Speaking during the conference on Tuesday, Al-Jasser said Saudi Arabia is “paving the way to establish a clear vision for the future of international aviation, consolidate travelers’ confidence, address challenges, and become a leader in innovation by building sustainable global aviation and achieving customers’ well-being.”

The Future of Aviation conference, which is organized by the General Authority of Civil Aviation in Riyadh, saw on Tuesday a dialogue session on women’s role in the aviation and space industry.

The participants discussed efforts to empower women and encourage their participation in the sector, as well as promoting their leadership and innovation.

Eng. Mishaal Ashemimry, the first Saudi woman in the field of aircraft, spacecraft and missile engineering, emphasized that the Kingdom attaches great importance to the participation of women in the aviation sector. She added that women are encouraged to enter this industry and actively contribute to its different fields.

Dr. Shefali Juneja, India’s representative to the International Aviation Organization (ICAO), stressed the need to improve the perception of women’s participation in the aviation sector, noting that women “have made their mark and achieved great successes.”

Another session on Tuesday tacked sustainability in the aviation system, with the speakers underlining the importance of finding environment-friendly solutions for the supply chains.

They also pointed to the need to focus on the issues of cost, feasibility and practical application of solutions.

The Future of Aviation conference is being attended by an elite of public and business sector leaders, executives and organizers from around the world, with the aim of creating a mechanism for the development of international air travel and offering future solutions to the difficulties facing the industry in the post-pandemic era.

During an open session also held on Tuesday, experts discussed the future of the aviation sector, which they said revolved around people, investments, innovations and infrastructure.

They stressed that digital innovations would accelerate and drive the sector’s recovery efforts, noting that smarter airports and the elimination of sequential procedures would further boost the travel interface system.



Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices rose on Tuesday, helped by a softer US dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year.

Spot gold was up 0.3% to $2,668.79 per ounce as of 1200 GMT. US gold futures gained 0.1% to $2,682.30.

"Gold prices are benefiting from reports that the incoming Trump administration is considering a gradual implementation of tariff increases to mitigate their impact on inflation," said Ricardo Evangelista, senior analyst at ActivTrades, referring to a Bloomberg report.

"This news led to a slight decline in US Treasury yields and a weakening of the dollar."

The dollar index fell 0.3% from a more than two-year high hit in the last session as traders scaled back US rate cut bets for 2025 after a strong jobs report. A softer dollar makes gold more affordable for buyers using other currencies, Reuters reported.

Investors are looking out for US Producer Price Index (PPI) data at 1330 GMT and Consumer Price Index (CPI) numbers due on Wednesday. A Reuters poll of economists gives a median forecast for an annual rise in CPI of 2.9%, up from November's 2.7%.

Also due is US retail sales on Thursday for further insights into the economy and the Fed's 2025 policy trajectory.

"If inflation increases again based on Trump´s spending policy, we may even see no cuts at all in the mid-term," said Henrik Marx, head of precious metals trading at Heraeus Precious Metals Germany.

Bullion is used as a hedge against inflation, although higher interest rates reduce the non-yielding asset's appeal.

Elsewhere, spot platinum was down 0.4% to $949.80.

"We look for platinum to be under-supplied by 500,000 ounces, or 6.4% of demand, in 2025," UBS said in a note.

Spot silver firmed 0.5% to $29.75 per ounce and palladium climbed 0.5% to $943.70.