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Saudi Arabia Announces Opening of Neom Bay Airport

Neom Bay airport (Asharq Al-Awsat)
Neom Bay airport (Asharq Al-Awsat)
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Saudi Arabia Announces Opening of Neom Bay Airport

Neom Bay airport (Asharq Al-Awsat)
Neom Bay airport (Asharq Al-Awsat)

Saudi Arabia's General Authority of Civil Aviation announced on Tuesday the opening of Neom Bay Airport in the northern region of Sharma.
 
The Authority said that the airport has been licensed and was ready to receive commercial flights starting next Sunday, after the first phase of development work was completed and was registered by the International Air Transport Association (IATA) earlier with the code “NUM.”

Neom Bay Airport will conduct regular flights to investors and employees of Saudi Arabia’s giant Neom project. It is also considered a new window on the Red Sea. It is one of the most modern and important airports in the Middle East region and the most geographically distinct since it is located on the borders of three countries: Saudi Arabia, Jordan and Egypt.
 
The airport establishment comes within Saudi Vision 2030 and aims to support the development of the national economy by creating a modern and global logistics platform for organizations and individuals around the world.

The total area of the airport is 3,643 sq. meters and has a hangar to accommodate as many as six aircraft.

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Turkish Annual Inflation Falls More Than Expected to 44.38%

A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
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Turkish Annual Inflation Falls More Than Expected to 44.38%

A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo

Turkish annual consumer price inflation fell more than expected to 44.38% in December, official data showed on Friday, with education, housing and restaurant prices leading the rise.

Month on month, inflation was 1.03%, the Turkish Statistical Institute said, compared with 2.24% in November. Annual consumer price inflation (CPI) was 47.09% in November.

Furniture prices rose 2.78% from the previous month, data showed, while telecoms-related prices gained by 1.82%.

In a Reuters poll, the annual inflation rate was expected to fall to 45.2%, with the monthly figure seen at 1.61%, owing to easing food price inflation and a limited rise in energy prices.

The latest inflation print was close to the central bank's midpoint prediction of 44% for the end of 2024.

The bank, having kept its main interest rate steady at 50% since March, launched an easing cycle last week, cutting the policy rate by 250 basis points to 47.5%.

The bank said it will set policy "prudently" meeting by meeting with a focus on the inflation outlook while responding to any expected "significant and persistent deterioration".

The Turkish lira was little changed after the data at 35.3850 to the dollar, hovering around the record lows.

The domestic producer price index was up 0.4% month on month in December for an annual rise of 28.52%, the data showed.