Sudan’s Wheat Import Requirements to Rise to 3.5 Mln Tons in 2023

A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
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Sudan’s Wheat Import Requirements to Rise to 3.5 Mln Tons in 2023

A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)

Sudan will need to import 3.5 million tons of wheat this year because of a 30% drop in the projected local harvest after farmers switched to planting different crops, the UN Food and Agriculture Organization (FAO) said on Wednesday.

Some farmers told Reuters the government had failed to buy their wheat on promised terms last year, leaving them reluctant or without the money to plant a new crop.

This year production of sorghum, a staple in Sudan, and of millet, is expected to recover, helped by favorable rains, the FAO said. Projected wheat imports will therefore account for nearly all Sudan's expected cereal import requirements of 3.6 million tons, it added.

"This will have a major impact on the food security of millions of Sudanese people, as international prices of wheat continue to increase and the country's national currency weakens," the agency said in a statement.

In 2022, Sudan imported 2.7 million tons of wheat and flour at a cost of $1.06 billion, with Russia, Australia, and Romania being the top import origins, according to central bank data.

Humanitarian agencies have warned of rising levels of hunger in Sudan, where more than one third of the population faced acute food insecurity last year.

"Communities are facing differing scales of vulnerabilities driven by soaring prices of staple crops, and the combined effects of economic downturn, high inflation, climate-induced hazards and conflict," the FAO statement quoted its Sudan representative Adam Yao as saying.



Saudi Arabia’s Non-oil Exports Rise 3.3% in Q1 of 2024

The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)
The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)
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Saudi Arabia’s Non-oil Exports Rise 3.3% in Q1 of 2024

The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)
The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)

Saudi Arabia’s non-oil exports recorded an annual increase of 3.3 percent in the first quarter of 2024 compared to the same period in 2023, the General Authority for Statistics (GASTAT) revealed on Thursday.

 

This increase was mainly attributed to a rise in the value of re-exports, which reached SR6.4 billion in March 2024, an 18 percent increase compared to SR5.4 billion in March 2023.

The International Trade Q1 2024 report by GASTAT pointed to positive trends in the Kingdom’s export sector.

The report revealed a significant 19 percent increase in exports of chemical and allied industry products in March 2024 compared to the previous month, reaching a value of SR6.5 billion in March.

Merchandise exports and non-oil exports also rose by five percent and six percent respectively in March, compared to February 2024.


Egypt: Central Bank Keeps Key Interest Rates Unchanged

FILE PHOTO: A general view of the new headquarters of Central Bank of Egypt, at the New Administrative Capital (NAC) east of Cairo, Egypt December 8, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
FILE PHOTO: A general view of the new headquarters of Central Bank of Egypt, at the New Administrative Capital (NAC) east of Cairo, Egypt December 8, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
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Egypt: Central Bank Keeps Key Interest Rates Unchanged

FILE PHOTO: A general view of the new headquarters of Central Bank of Egypt, at the New Administrative Capital (NAC) east of Cairo, Egypt December 8, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
FILE PHOTO: A general view of the new headquarters of Central Bank of Egypt, at the New Administrative Capital (NAC) east of Cairo, Egypt December 8, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's central bank kept its overnight interest rates steady on Thursday, as expected, saying that while economic growth had slowed, rising non-food inflation had offset a steady decline in food inflation.
The meeting of the central bank's Monetary Policy Committee (MPC) was its first since Egypt signed an $8 billion financial support agreement with the International Monetary Fund (IMF) in March, when it hiked rates by 600 basis points (bps).
The MPC on Thursday left the lending rate unchanged at 28.25% and the deposit rate at 27.25%, it said in a statement.
The hold was widely expected, with only one of 19 analysts in a Reuters poll forecasting that the MPC would lower rates.
Interest rates are still well below the headline inflation rate, which was running at 32.5% in April. Inflation has declined from a record 38% in September.
"Forecasts indicate that inflation has already peaked and thus is expected to moderate in 2024 as inflationary pressures begin to subside," the MPC said in a statement accompanying the interest rates decision.
The MPC said economic growth had slowed to 2.3% in the fourth quarter of 2023 from 4.2% a year earlier and that indicators suggested growth would remain subdued in the first quarter of 2024.
The central bank raised interest rates on March 6 as part of its agreement with the IMF, bringing total increases since the beginning of the year to 800 bps.
As part of the IMF agreement, Egypt allowed its currency to tumble to under 50 to the dollar after having fixed it at 30.85 for a year. The Egyptian pound has since strengthened to about 47.1 to the dollar.


GACA President to Asharq Al-Awsat: We are Moving towards Automating Saudi Airports

The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)
The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)
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GACA President to Asharq Al-Awsat: We are Moving towards Automating Saudi Airports

The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)
The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej (Asharq Al-Awsat)

The Chairman of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, said that Saudi Arabia is one of the advanced countries in digital government, technical connectivity, and access to information, revealing the Kingdom’s efforts to benefit from the latest technologies in the field of automating airport operations with the aim of facilitating the traveler’s experience.
In remarks to Asharq Al-Awsat, Al-Duailej explained that the authority has recently automated many processes at airports, including obtaining a boarding pass electronically and dropping luggage without human intervention.
The chairman of GACA was speaking at the conclusion of the Future Aviation Forum 2024, on Wednesday.
The three-day event was held in Riyadh with the participation of more than 30 ministers, 77 leaders of civil aviation authorities and heads of air transport companies, as well as 7,000 industry experts from more than 120 countries.
Al-Duailej noted that the electronic gates service was activated at King Khalid International Airport in Riyadh during the month of Ramadan, adding that GACA was working to introduce other automated services.
He also highlighted progress towards achieving the country’s goals of doubling the number of passengers, to exceed 330 million in 2030.
The Saudi official stated that the Kingdom enjoys a strategic geographical location and aims to be a hub connecting the East to the West, especially in the field of aviation and logistics services. From this standpoint, he stressed that the country seeks to double air freight from less than one million tons in 2019 to more than 4.5 million tons by 2030.
He continued that Saudi Arabia aims to increase the number of direct air stations from 148 stations in 2023 to 250 global destinations in 2030.
The Saudi strategy for the civil aviation sector focuses on creating a global investment environment and shaping the future of the aviation industry in Saudi Arabia, with the aim to transform the country into a leader in the region and the world.


South Korea Unveils $19 Bln Package to Compete in Global Chip 'Warfare'

A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. Samsung Electronics/Handout via REUTERS
A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. Samsung Electronics/Handout via REUTERS
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South Korea Unveils $19 Bln Package to Compete in Global Chip 'Warfare'

A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. Samsung Electronics/Handout via REUTERS
A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. Samsung Electronics/Handout via REUTERS

South Korea announced on Thursday a 26 trillion won ($19 billion) support package for its chip businesses, citing a need to keep up in areas like chip design and contract manufacturing amid 'all-out warfare' in the global semiconductor market, Reuters said.
Under the package, President Yoon Suk Yeol said a financial support program worth about 17 trillion won was planned through state-run Korea Development Bank to back investments by semiconductor companies, according to the presidential office.
"As we all know, semiconductors are a field where all-out national warfare is underway. Win or lose, that depends on who can make cutting-edge semiconductors first," Yoon said at a meeting with top government officials.
South Korea, home to the world's top memory chip makers Samsung Electronics and SK Hynix, has fallen behind some rivals in areas such as chip design and contract chip manufacturing.
South Korea's share of the global fabless sector, which is dominated by companies like US giant Nvidia that design chips but outsource manufacturing, stood at about 1%, Yoon's office said. There was also a gap between local chipmakers and the leading contract chip makers like Taiwan's TSMC, it said.
Yoon said a 1 trillion won fund would be set up to support equipment makers and fabless companies.
Industry minister Ahn Duk-geun said the government aimed to help boost South Korea's global market share in non-memory chips, such as mobile processors, to 10% from the current 2%.
The package is bigger than plans flagged by the country's finance minister Choi Sang-mok earlier this month, when he said the government was targeting support for chip investments and research worth more than 10 trillion won.
In a press briefing, Choi described South Korea's chip support package "as good as" any other country.
Countries around the world ranging from China to the United States have been ploughing tens of billions of dollars via grants and other means to support their own chip sectors.
"The government is apparently trying to follow the trend where other countries are giving out subsidies for their own chip companies," said Greg Roh, head of research at Hyundai Motor Securities.
South Korea is building a mega chip cluster in Yongin, south of the capital Seoul, touted as the world's largest high-tech chipmaking complex to attract chip equipment and fabless companies.
Finance minister Choi said the government would streamline bureaucracy and cut red tape to help speed up construction of the chip cluster at twice the normal rate.
In January, Yoon, who has vowed to pour all possible resources into the country's chip industry, said he would extend tax credits on investments in the domestic semiconductor industry to boost employment and attract more talent.


Oil Prices Fall for Fourth Straight Day as US Rate Hike Prospects Emerge

FILE PHOTO: An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US June 9, 2016.  REUTERS/Richard Carson/File Photo
FILE PHOTO: An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US June 9, 2016. REUTERS/Richard Carson/File Photo
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Oil Prices Fall for Fourth Straight Day as US Rate Hike Prospects Emerge

FILE PHOTO: An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US June 9, 2016.  REUTERS/Richard Carson/File Photo
FILE PHOTO: An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US June 9, 2016. REUTERS/Richard Carson/File Photo

Oil prices eased for a fourth straight session on Thursday after the minutes of a US Federal Reserve meeting revealed discussions of a further tightening of interest rates if inflation remained sticky, a move that could hurt oil demand.
Brent crude futures fell 20 cents, or 0.2%, to $81.70 a barrel at 0651 GMT. US West Texas Intermediate crude (WTI) futures were down 29 cents, or 0.4%, at $77.28. Both benchmarks fell more than 1% on Wednesday, Reuters said.
Minutes released on Wednesday from the Federal Reserve's last policy meeting showed the US central bank's response to sticky inflation would "involve maintaining" its policy rate for now but also reflected discussion of possible further hikes.
"Various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate," minutes of the Fed's meeting said.
Higher interest rates boost borrowing costs, crunching funds that could boost economic growth and oil demand in the world's largest oil consuming nation.
Also weighing on the market, US crude stocks rose by 1.8 million barrels last week, according to the Energy Information Administration, compared with an estimate for a 2.5 million-barrel draw.
Globally, physical crude markets have more recently been pressured by soft refinery demand and ample supply.
"Recent market softness has come on the back of weaker data, including rising oil inventories, tepid demand, and refinery margin weakness and the increasing risk of run cuts," Citi analysts said in a note on Thursday.
Russia said it exceeded its OPEC+ production quota in April for "technical reasons" and will soon present to the Organization of the Petroleum Exporting Countries (OPEC) Secretariat its plan to compensate for the error, the Russian Energy Ministry said late on Wednesday.
Citi said it still expects that OPEC+, which groups together OPEC and allies led by Russia, will hold its production cuts through the third quarter of this year when it meets on June 1.
Citi also said it continues to see Brent averaging $86 a barrel in the second quarter of 2024.


Gold Prices Dip on Hawkish Fed Minutes

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Prices Dip on Hawkish Fed Minutes

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates.
Spot gold fell 0.6% at $2,365.49 per ounce, as of 0638 GMT. Bullion hit a record high of $2,449.89 on Monday, Reuters reported.
U.S. gold futures were down 1.1% at $2,367.60.
While the policy response for now would "involve maintaining" the US central bank's benchmark policy rate at its current level, the minutes released on Wednesday also reflected discussions of possible further hikes.
"Gold did take a bruising after the Fed minutes reminded investors that interest rate cuts are far from imminent," said Tim Waterer, chief market analyst at KCM Trade.
Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold.
"There is a chance gold could drift back to support levels around the $2,355 region if the dollar keeps the upward momentum going," Waterer said, adding that the medium to longer-term outlook still looks constructive for gold, but that is very much predicated on the next rate move being lower and not higher from the Fed.
Traders' bets signaled growing doubts that the Fed will cut rates more than once in 2024, currently pricing in a 72% chance of a rate cut by November.
India's gold imports in 2024 could fall by nearly a fifth from the previous year as record high prices spur retail consumers to exchange old jewelry for new items, the head of an industry body told Reuters.
"While physical gold demand has been holding up well since 2021, a sharp price rise is likely to temper discretionary buying in 2024. For jewelry demand, fewer days deemed in Indian and China to be auspicious for weddings could be a headwind," ANZ said in a note.
Spot silver fell 0.9% to $30.48, platinum lost 0.6% to $1,028.55 and palladium dropped 1.1% to $988.62.


Saudi Arabia Hosts Int’l Conference to Improve Traveler Experience

Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
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Saudi Arabia Hosts Int’l Conference to Improve Traveler Experience

Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)
Group photo of officials during the Airports Council International Conference (Asharq Al-Awsat)

Officials and investors in the airport industry developed innovative strategies to facilitate the traveler’s experience, during the Airports Council International (ACI) Asia-Pacific & Middle East / ACI World Annual General Assembly, Conference and Exhibition (WAGA 2024), which kicked off in Riyadh on Wednesday.

The three-day event, hosted by Riyadh Airports, features the participation of aviation leaders, airport CEOs, and over 800 specialists from across the globe. This is the first time WAGA is being held in the Middle East, underscoring Saudi Arabia’s pivotal role in airport management and aviation.

The head of the General Authority of Civil Aviation (GACA), Abdulaziz Al-Duailej, said on the occasion that Saudi Arabia is anticipating the future of aviation through its endeavor to host major events related to the industry, and is implementing a clear vision to lead the Middle East region at the level of logistical services.

He added that the Airports Council International conference represents a tremendous opportunity for the system in Saudi Arabia, by providing a basic foundation for benefiting from industry leaders and keeping pace with the latest developments in the field of aviation locally and globally.

For his part, the CEO of Riyadh Airports, Ayman Abo Abah, announced that his company is working with the relevant authorities to promote the reliance on clean energy sources, pointing in this context to progress achieved at King Khalid International Airport.

Riyadh Airports was established in 2016 as part of the sector privatization program. The company manages and operates King Khalid International Airport in Riyadh, and seeks to develop the airport’s infrastructure and conduct expansion projects for new services and facilities.

Abo Abah explained that King Khalid International Airport has received the global accreditation certificate for managing carbon emissions for airports (level three) from the Airport Carbon Emissions Management Accreditation Program (ACA), making it the first airport in the Kingdom and the Middle East to obtain this certificate.

This confirms the implementation of the necessary standards and practices to reduce emissions and launch green initiatives that support this trend, he underlined.

Riyadh Airports’ hosting of WAGA 2024 coincides with the third edition of the Future Aviation Forum (FAF 2024), organized by GACA.

Wednesday’s sessions addressed the current state of the industry and the system’s future trends, emphasizing the importance of taking into account environmental sustainability and working to remove carbon in new, innovative ways.


IMF: Lebanon's Reforms Insufficient for Recovery

Lebanese policeman stand outside the parliament building in downtown Beirut, Lebanon October 17, 2017. REUTERS/Mohamed Azakir
Lebanese policeman stand outside the parliament building in downtown Beirut, Lebanon October 17, 2017. REUTERS/Mohamed Azakir
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IMF: Lebanon's Reforms Insufficient for Recovery

Lebanese policeman stand outside the parliament building in downtown Beirut, Lebanon October 17, 2017. REUTERS/Mohamed Azakir
Lebanese policeman stand outside the parliament building in downtown Beirut, Lebanon October 17, 2017. REUTERS/Mohamed Azakir

Lebanon's economic reforms are insufficient to help lift the country out of its economic crisis, the International Monetary Fund (IMF) said on Thursday.

Ernesto Ramirez Rigo, the head of the IMF mission visiting Lebanon, said in a statement that Lebanon's ongoing refugee crisis, fighting with Israel at its Southern border and the spillover from the war in Gaza are exacerbating an already dire economic situation.

Israeli forces and Lebanon's Hezbollah have traded fire across Lebanon's southern border since the war in Gaza broke out in October last year.

The conflict "has internally displaced a significant number of people and caused damage to infrastructure, agriculture, and trade in southern Lebanon. Together with a decline in tourism, the high risks associated with the conflict create significant uncertainty to the economic outlook," Rigo said, Reuters reported.
Fiscal and monetary reforms carried out by Lebanon's finance ministry and the central bank, including steps to unify multiple exchange rates for the Lebanese pound and contain a currency slump, have helped reduce inflationary pressure, according to Rigo.

However, he said more needs to be done if Lebanon is to alleviate its financial crisis.

"These policy measures fall short of what is needed to enable a recovery from the crisis. Bank deposits remain frozen, and the banking sector is unable to provide credit to the economy, as the government and parliament have been unable to find a solution to the banking crisis," he added.

"Addressing the banks' losses while protecting depositors to the maximum extent possible and limiting recourse to scarce public resources in a credible and financially viable manner is indispensable to lay the foundation for economic recovery."

Since Lebanon's economy began to unravel in 2019, its currency has lost around 95% of its value, banks have locked most depositors out of their savings and more than 80% of the population has sunk below the poverty line.

The crisis erupted after decades of profligate spending and corruption among the ruling elite, some of whom led banks that lent heavily to the state.

The government estimates losses in the financial system total more than $70 billion, the majority of which were accrued at the central bank.

 

 

 

 

 


Saudi Industry Minister Discusses Mining Cooperation with Jordanian Companies

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef holding talks in Jordan with Arab Mining Company chairman of the board Mohammed Ahmed Al-Shehhi - SPA
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef holding talks in Jordan with Arab Mining Company chairman of the board Mohammed Ahmed Al-Shehhi - SPA
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Saudi Industry Minister Discusses Mining Cooperation with Jordanian Companies

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef holding talks in Jordan with Arab Mining Company chairman of the board Mohammed Ahmed Al-Shehhi - SPA
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef holding talks in Jordan with Arab Mining Company chairman of the board Mohammed Ahmed Al-Shehhi - SPA

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef met in Jordan with Arab Mining Company chairman of the board Mohammed Ahmed Al-Shehhi to discuss ways of enhancing cooperation in the mining sector.
Alkhorayef and Al-Shehhi explored opportunities to leverage the mining resources available in both Saudi Arabia and Jordan. Eng. Khalid bin Saleh Al-Mudaifer, the vice minister of mining affairs, also attended the meeting, according to SPA.
During his official visit to Jordan, Alkhorayef also held meetings with officials from Jordanian companies operating in the mining sector.
In his discussions with officials from Jordan Phosphate Mines Company, they explored avenues of cooperation in phosphate extraction and production in light of Saudi Arabia's substantial phosphate reserves.
Additionally, the minister discussed cooperation with officials from the Arab Potash Company, reviewing the progress made in implementing the memorandum of understanding signed between the company and the Saudi Arabian Mining Company (Ma'aden). The deal aims to enhance collaboration in specialized fertilizers and products in both countries.
Alkhorayef’s visit to Jordan reflects the Kingdom's commitment to strengthen Saudi-Jordanian economic cooperation, particularly in the industrial and mining fields, exchange expertise, attract investments, and create jobs. These efforts aim to deepen the economic integration between Saudi Arabia and Jordan on multiple levels.


King Abdulaziz International Airport Achieves Top Places in 2023 ACI Rankings

King Abdulaziz International Airport gets crowned as one of the most advanced airports in air connectivity in the Middle East - SPA
King Abdulaziz International Airport gets crowned as one of the most advanced airports in air connectivity in the Middle East - SPA
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King Abdulaziz International Airport Achieves Top Places in 2023 ACI Rankings

King Abdulaziz International Airport gets crowned as one of the most advanced airports in air connectivity in the Middle East - SPA
King Abdulaziz International Airport gets crowned as one of the most advanced airports in air connectivity in the Middle East - SPA

King Abdulaziz International Airport (KAIA) was crowned one of the most advanced airports in air connectivity in the Middle East by the Airports Council International (ACI).
During ACI's annual General Assembly Conference and Exhibition in Riyadh, KAIA placed third as the best airport in the field of air connectivity in the Middle East for 2023, SPA reported.
These results are an extension of the ongoing efforts of the Jeddah Airports Company, which manages and operates KAIA in using the latest technology, developing the infrastructure of the Kingdom's founder’s airport, upgrading the quality of services, and expanding the network of local and international air destinations to more than 125.
As part of its endeavor to achieve the national strategic objectives of civil aviation emanating from the Saudi Vision 2030, the Jeddah Airports Company continues to strengthen the position of KAIA as a global hub airport, and to provide a unique travel experience for all travelers, including tourists and visitors to the Grand Mosque of Makkah from around the world, with the airport achieving a record growth in operations of over 36%.

The airport also aims to increase the number of destinations to 135 by the end of 2024, achieving a growth of 6% compared to 2023.
Jeddah Airports Company CEO Eng. Mazen Johar unveiled the company's intention to upgrade the level of services to realize the goals of the National Transport and Logistics Strategy, which aims to increase operational efficiency and raise the capacity of KAIA to reach 114 million passengers by 2030.