UAE Publishes World’s First National Regulation Related to Vertiports

The UAE advances the transition towards clean energy. (WAM)
The UAE advances the transition towards clean energy. (WAM)
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UAE Publishes World’s First National Regulation Related to Vertiports

The UAE advances the transition towards clean energy. (WAM)
The UAE advances the transition towards clean energy. (WAM)

The United Arab Emirates published on Tuesday the world’s first national regulation related to vertiports to support rapid developments and continued worldwide investment in the country’s highly progressive and competitive aviation industry.

This regulation covers the design and operational requirements of vertiports while ensuring a regulatory environment that supports the efficient and safe operation of vertical take-off and landing (VTOL) aircraft.

The proposed amendments of the new draft regulation have been released for industry consultation, and it will be published later in its final version in Q1 2023.

The General Civil Aviation Authority (GCAA) said that the rapid and increasing development of electrical vertical take-off and landing (eVTOL) aircraft has created an imperative for new infrastructure, new networks and new regulatory approaches.

It noted that the demand for vertiports continues to accelerate as eVTOL manufacturers aim to launch their aircraft by 2024.

As a potential global network is envisaged by 2030, this novel carbon-neutral industry must be served by suitable, safe and regulated infrastructure, WAM reported.

Through safe and orderly infrastructure, the promises associated with this new mode of transportation include ensuring rapid movement of passengers within cities and reducing traffic jams, as well as rapid logistical responses to emergencies and easy access to markets across cities.

GCCA said that the new regulation strengthens the UAE’s Urban Air Mobility proposition while enhancing the level of safety within the aviation sector, and proactively providing a unique certification and regulatory oversight framework for vertiports.

This would increase the safety of the country’s critical national infrastructure and aviation system while maintaining its pioneering status within the global aviation industry.

Saif Mohammed al-Suwaidi, GCAA Director-General, said: “The proactive development of a regulatory framework for vertiports establishes a foundation within the UAE to ensure safe and seamless operation of urban air mobility.

He explained that the rapid growth of advanced air mobility presents opportunities in the reduction of carbon emissions, decreased congestion, and entry to inaccessible markets, which are achievable through vision, planning and close collaboration with stakeholders in the aviation industry.



Gold Stabilizes after Selloff as Wider Markets Regain Balance

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
TT

Gold Stabilizes after Selloff as Wider Markets Regain Balance

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices held steady on Tuesday, anchored by stability in European equities and US stock futures, a day after bullion's sharp decline amid a tech-led selloff.

Spot gold was steady at $2,742.37 per ounce by 12:05 GMT. US gold futures rose 0.3% to $2,746.70.

"After the drop yesterday, with gold likely being used to cover losses in other asset classes, stable equity markets in Europe are keeping gold stable too," UBS analyst Giovanni Staunovo said, Reuters reported.

Gold fell over 1% on Monday, marking its steepest drop since Dec. 18, as investors rushed to liquidate bullion to offset losses triggered by a sharp pullback in technology stocks, spurred by DeepSeek's low-cost, low-power AI model, casting doubt on the dominance of traditional AI giants.

Investors' focus is now set upon the Federal Reserve's first meeting this year, scheduled to start later in the day.

Policymakers are expected to leave interest rates unchanged at the end of the two-day meeting.

However, US President Donald Trump saying he wants borrowing costs to be lowered cast some doubt over the independence of the Fed's decision.

"Market uncertainty should still support demand for gold over the coming months, we still look for higher prices later this year, driven also by further rate cuts by the Fed," Staunovo added.

Trump's policies, in addition to being perceived as inflationary, could potentially trigger trade wars, increasing safe-haven demand for bullion.

Gold prices look set for a record-breaking year due to heightened economic uncertainty and inflation concerns, a Reuters poll showed.

However, analysts downgraded their 2025 price forecasts for platinum and palladium as demand struggles to improve significantly.

Spot silver fell 0.1% to $30.17 per ounce, palladium was down by 0.1% to $959.75 and platinum also shed 0.1% to $946.05.