Virgin Atlantic Launches Direct Flights Linking Europe, the US, and Saudi Arabia

Fahd Hamidaddin, CEO of the Saudi Tourism Authority (Asharq Al-Awsat)
Fahd Hamidaddin, CEO of the Saudi Tourism Authority (Asharq Al-Awsat)
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Virgin Atlantic Launches Direct Flights Linking Europe, the US, and Saudi Arabia

Fahd Hamidaddin, CEO of the Saudi Tourism Authority (Asharq Al-Awsat)
Fahd Hamidaddin, CEO of the Saudi Tourism Authority (Asharq Al-Awsat)

King Khalid International Airport in Riyadh has welcomed the inaugural flight of British airline Virgin Atlantic from London Heathrow, marking a major milestone in the airline’s expansion into the Saudi market.

The new daily service aims to connect travelers from Europe and the US to Saudi Arabia, amid projections of a 24% increase in air connectivity between the Kingdom and the UK by 2035.

Saudi Minister of Tourism and Chairman of the Saudi Tourism Authority Ahmed Al Khateeb described the launch as a significant step in reinforcing Saudi Arabia’s position as one of the world’s fastest-growing tourism destinations.

He stressed that the strategic partnership with the Virgin Group would help attract more visitors from the UK and beyond, eager to explore Saudi Arabia’s natural beauty, rich heritage, and unique experiences.

In 2024, the Kingdom welcomed over 128 million air travelers, a 15% year-on-year increase, and views the UK as one of its most vital target markets.

Speaking at a press conference in Diriyah, Virgin Group founder Sir Richard Branson expressed his enthusiasm for the airline’s entry into Saudi Arabia.

He praised the Kingdom’s rapid development, citing tourism projects on the Red Sea, golf courses, luxury hotels, and new entertainment cities as key attractions.

Branson revealed that Virgin Atlantic will operate connecting flights from Riyadh to London, then onward to Los Angeles and other global destinations. He also hinted at an upcoming meeting with Crown Prince Mohammed bin Salman to explore further collaboration in tourism, including hotel ventures, cruise ships, and even space travel through Virgin Galactic.

Fahd Hamidaddin, CEO of the Saudi Tourism Authority, said Virgin Atlantic’s arrival was made possible through collaboration with the General Authority of Civil Aviation and the Air Connectivity Program.

He explained that the airline would serve not only as a travel link but also as a broader tourism partner through its associated brands - Virgin Holidays, Virgin Voyages (cruise tourism), and Virgin Galactic (space tourism).

The new route is expected to contribute 95,000 seats annually between London and Riyadh, with the goal of attracting more tourists from Europe and North America.

Hamidaddin noted that these developments align with efforts to enhance travel options and pricing through both international and local airline partnerships.

The launch of the Virgin Atlantic route reflects Saudi Arabia’s growing role as a global tourism hub and highlights the deepening ties between Riyadh and London.

With Riyadh evolving into a center of investment and tourism, the city offers a gateway to explore the Kingdom’s rich cultural heritage, including UNESCO World Heritage sites.

Saudi Arabia’s diverse landscapes - ranging from vast deserts and towering mountains in Asir to warm Red Sea beaches and coral reefs - along with its world-class events, continue to draw millions of visitors from around the globe.



Tunisia Olive Oil Exports Surge 55%, Bringing in $1.6 billion

Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui
Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui
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Tunisia Olive Oil Exports Surge 55%, Bringing in $1.6 billion

Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui
Tunisian olive oil producer, Mustapha Mtiraoui, displays olives to be pressed at his oil mill in Kairouan, Tunisia February 24, 2024. REUTERS/Jihed Abidellaoui

Tunisia's olive oil exports surged 55.3% to a record 368,000 metric tons in the first nine months of the 2025/26 season, bringing in $1.6 billion in export revenue, up 44.4% from a year earlier, official data showed on Friday.

The surge in olive oil shipments, a vital source of foreign currency and Tunisia's top agricultural export, will provide a much-needed boost to the country's finances as the government grapples with persistent economic and fiscal pressure.

The jump in exports was driven by strong global demand during the first nine months of the season, which began in November.

Extra virgin olive oil accounted for 83.6% of total shipments, the National Observatory of Agriculture said, Reuters reported.

The European Union remained the biggest destination, taking 57.1% of Tunisian olive oil exports, while North America accounted for 24%. More than 70 countries imported Tunisian oil during the period.

Exports to other markets included Saudi Arabia, which took 4.6%, Jordan with 3.1% and African markets at 3.8%, with Egypt accounting for 3.3%.

Bottled olive oil exports rose 50.8% to 51,500 tons, but bulk oil still accounted for the vast majority of shipments, underscoring Tunisia's challenge in capturing more value from one of its most important export products.


South African Rand Hits Strongest Level since Start of Iran War

South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
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South African Rand Hits Strongest Level since Start of Iran War

South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration

The South African rand strengthened on Friday to its strongest level since the United States and Israel launched attacks on Iran on February 28, as rising gold prices and a weaker dollar boosted the commodity-linked currency.

At 1229 GMT, the rand traded at 15.9925 against the dollar , about 0.8% stronger from its previous close.

Gold, one of South Africa's main exports, rose to a more than three-month high on Friday and was on track for a third straight weekly gain.

The precious metal was supported by a weaker dollar and the US Treasury's announcement that it would increase buybacks of longer-dated securities, Reuters reported.

US Treasury Secretary Scott Bessent said he may further increase the government's repurchases of Treasuries. That came after the Treasury said it would double the size of buybacks on longer-dated securities over the next quarter.

The US dollar was set to end a bumpy week lower, making greenback-priced bullion more affordable for buyers overseas.

Like other emerging market currencies, the rand has been at the mercy of global market sentiment, particularly since the start of the Iran war.

On the Johannesburg Stock Exchange, the Top-40 index was last up 2.2%.

South Africa's benchmark 2035 government bond was also firmer in early deals, as the yield fell 0.5 basis points to 8.56%.


Bitcoin Jumps Further on US Crypto Policy Hopes

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Bitcoin Jumps Further on US Crypto Policy Hopes

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin surged Friday on optimism over US cryptocurrency legislation and the US Treasury's surprise move to buy back more of its own bonds, which fueled a shift to riskier assets.

The world's biggest cryptocurrency by market value climbed 6.9 percent to $77,675.94, after reaching its highest level since May, and is up more than 20 percent since Wednesday.

Friday was the third consecutive day in which bitcoin jumped more than five percent.

The sharp rise came after US President Donald Trump urged lawmakers on Wednesday to pass the Clarity Act, a bill to spur cryptocurrency use that has stalled in the Senate.

Bitcoin was also boosted by the US Treasury's bid to lower long-term borrowing costs by doubling its sovereign bond buybacks, a move that lifted investors' risk appetite, AFP reported.

The intervention came after the 30-year Treasury yield surged to levels last seen in 2007, just before the global financial crisis.

The prospect of lower yields makes safer investments less attractive, helping to drive demand for riskier assets such as cyptocurrencies.

"Renewed optimism around crypto progress in Washington helped light a fire under Bitcoin," said Bret Kenwell, US investment analyst at eToro.

"Falling Treasury yields and short liquidations added fuel to the rally," he said.