{"id":78717,"date":"2024-05-22T00:00:00","date_gmt":"2024-05-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/22\/today-ksas-future-aviation-forum-nets-sar-75-bn-in-agreements-kuwaits-air-cargo-city-project-takes-a-step-forward\/"},"modified":"2024-05-22T00:00:00","modified_gmt":"2024-05-22T00:00:00","slug":"today-ksas-future-aviation-forum-nets-sar-75-bn-in-agreements-kuwaits-air-cargo-city-project-takes-a-step-forward","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/22\/today-ksas-future-aviation-forum-nets-sar-75-bn-in-agreements-kuwaits-air-cargo-city-project-takes-a-step-forward\/","title":{"rendered":"TODAY: KSA\u2019s Future Aviation Forum nets SAR 75 bn in agreements  + Kuwait\u2019s air cargo city project takes a step forward"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, nice people. <\/strong>It\u2019s an aviation heavy day as news comes in hot and heavy from Saudi Arabia\u2019s Future Aviation Forum. We have all the latest on handshakes and investment tickets from the summit, but that\u2019s not the only aviation event taking place in the kingdom\u2026<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>It\u2019s the second and final day of the Airports Council International annual conference <\/strong><strong>\u2014 better known as WAGA 2024.<\/strong> The conference kicked off in Riyadh yesterday, hosting a meeting for the ACI Advisory Board, as well as a networking meeting, exhibition, and reception. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect today:<\/strong> Riyadh Airports CEO <strong>Ayman Aboabah<\/strong>, General Authority for Civil Aviation (Gaca) President <strong>Abdulaziz Al Duailej<\/strong>, and International Civil Aviation Organization President <strong>Salvatore Sciacchitano<\/strong> will set the tone for today\u2019s sessions with opening remarks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The talking points: <\/strong>The day will include discussions of airport competitiveness, infrastructure, airline strategies for network expansion and partnerships, and the economic impact on regional growth and tourism, as well as the role of technology and innovation in enhancing passenger experiences. Panels will also examine the changes and economic impacts of air transport liberalization, with discussions on market reforms, regulatory shifts, economic outcomes, and geopolitical effects on airline operations and trade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Panelists to look out for: <\/strong><\/p>\n<ul>\n<li><strong>Majid Khan<\/strong>, Saudi Air Connectivity Program CEO;<\/li>\n<li><strong>Aimen Al Hosni<\/strong>, Oman Airports CEO;<\/li>\n<li><strong>Selahattin Bilgen<\/strong>, iGA Istanbul Airport CEO;<\/li>\n<li><strong>Deborah Flint<\/strong>, president and CEO Greater Toronto Airports Authority;<\/li>\n<li><strong>Juan Jose Salmon Balestra<\/strong>, Lima Airport Partners CEO;<\/li>\n<li><strong>Kashif Khalid<\/strong>, regional director for the Middle East & Africa at IATA;<\/li>\n<li><strong>Lorie Argus<\/strong>, Australia Pacific Airports Corporation CEO;<\/li>\n<li><strong>Serkan Kaptan<\/strong>, TAV Airports CEO.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>#1- It could get easier to set up private freezones in Egypt soon: <\/strong>Egypt\u2019s General Authority for Investment and Freezone (GAFI) is finalizing a fresh set of requirements for the establishment of private freezones aimed at facilitating the process and attracting foreign investments in the process, GAFI head Hossam Heiba said on Tuesday. The new requirements \u201cprotect local investors while attracting foreign investors,\u201d Heiba said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the table: <\/strong>The new requirements reduce the percentage of product allocated to the local market to 20% and offer tax breaks for foreign investors. Under the new rules, the process for establishing a company will be fast tracked to be completed within one day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new freezone for CAI? <\/strong>The Customs Authority is looking to set up a freezone inside Cairo Airport from which to trade and re-export goods, authority head El Shahat Ghatwary said, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/21\/1794397\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher tariffs on chemical imports? <\/strong>Egypt\u2019s Finance Ministry could amend customs regulations for chemical products in order to boost local industry, a senior government source told Enterprise. The Chamber of Chemical Industries proposed increasing tariffs by 5-10% on chemical products that are imported but have a locally-made counterpart.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKET WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Oil prices dropped <\/strong><strong>this morning as markets expect that persistent inflation in <\/strong><strong>the US would delay interest rate cuts and stifle demand for oil<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-slips-third-session-likely-higher-longer-us-rates-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Brent crude futures dipped 0.7% to USD 82.28 by 03.46 GMT, while US West Texas Intermediate (WTI) futures slipped 0.8% to USD 78.02, the newswire reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The death of Iran\u2019s president Ebrahim Raisi is unlikely to change the country\u2019s oil <\/strong><strong>export policy,<\/strong><a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/052024-factbox-president-of-iran-opecs-third-largest-crude-producer-killed-in-helicopter-crash\" style=\"\" rel=\"noopener\">S&P Global<\/a> reports. \u201cIranian oil policy depends fundamentally on Iran's relationship with China,\u201d which stands as the country\u2019s largest customer, S&P Global Commodity Insights' head of geopolitics and international affairs Carlos Pascual said. Iran is not likely to shift its oil policy unless an Israeli connection to Raisi\u2019s death becomes apparent, Psacual added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Baltic index steady as capesize gains counter <\/strong><strong>fall in supramax: <\/strong>The Baltic Exchange\u2019s dry bulk index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was mostly steady on Monday, inching up 0.16% at 1,847 points, as gains in capesize balanced falls in smaller segments, <a target=\"_blank\" href=\"https:\/\/www.hellenicshippingnews.com\/baltic-index-steady-as-gains-in-capesize-offset-lower-rates-for-smaller-vessels-2\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The larger capesize sub index bumped up 1.23% to 2,708 points, while panamax slipped 0.77% to 1,811 points, its lowest in more than a month. Meanwhile, the smaller supramax segment ticked down 0.93% at 1,392 points, the newswire said. <\/p>\n<p class=\"tag-border-left\">DATA POINT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a><\/strong><strong>Dubai International Airport (DXB) saw a 8.4% y-o-y surge in passenger traffic in 1Q <\/strong><strong>2024 to 23 mn passengers,<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dubai-dxb-airport-sees-record-2024-traffic-after-84-rise-q1-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a statement by Dubai Airports. The rise in passenger traffic can be partly attributed to more destinations by flagship carrier Emirates and budget carrier Flydubai, the operator noted in the statement. \u201cWith a strong start to Q2 and an optimistic outlook for the rest of the year, we have revised our forecast for the year to 91 mn guests, surpassing our previous annual traffic record of 89.1 mn in 2018,\" CEO Paul Griffiths said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Dubai is lining up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/7ab4fbb8-0291-4833-a826-5f28e84fa545\/today:-damietta-tahya-misr-update--%2B-dp-world-heads-to-malaysia\" style=\"\" rel=\"noopener\">USD 35 bn plan<\/a> to develop a new passenger terminal at Dubai\u2019s Al Maktoum International Airport in a bid to benefit from the growing air passenger market. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"logistics\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/comex.om\/2022\/\" style=\"\" rel=\"noopener\">Comex Technology Show<\/a><\/strong><strong> from Monday, 27 May to Saturday, 30 May<\/strong> in Muscat. The event will see representation from industry leaders and decision makers to showcase buyer potential in innovative technology, in transportation, logistics, energy and healthcare sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt will host <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.propakmena.com\/en\/home.html\" style=\"\" rel=\"noopener\">ProPak MENA<\/a><\/strong><strong> from Sunday, 26 May to Tuesday, 28 May<\/strong> in Cairo. The conference will see F&B manufacturing industry professionals network and discover the latest equipment and logistic solutions for processing and packaging.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.iata.org\/en\/pressroom\/2023-releases\/2023-06-05-03\/\" style=\"\" rel=\"noopener\">IATA Annual General Meeting and World Air Transport Summit<\/a><\/strong><strong> from <\/strong><strong>Sunday, 2 June to Tuesday, 4 June <\/strong>in Dubai. The event will bring together aviation industry players to showcase what can be achieved through supportive government policies and decisions. Airline leaders will make decisions during the event to formalize industry positions and set IATA\u2019s strategic agenda.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lebanon will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.emmc.me\/overview\/\" style=\"\" rel=\"noopener\">East Med Maritime Conference<\/a><\/strong><strong> on Thursday, 27 June<\/strong> in Beirut. The event will gather industry leaders to discuss the latest developments in shipping, maritime, and offshore industries to discuss industry innovations, alternative fuels, and decarbonizing emissions in the maritime sector and ports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":78718,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[145,49,176,31,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-egypt","tag-logistics-zone","tag-saudi-arabia","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"1c035ae0-3a89-435a-b567-db2fe8d93d4a","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/2\/1176.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: KSA\u2019s Future Aviation Forum nets SAR 75 bn in agreements  + Kuwait\u2019s air cargo city project takes a step forward","related_issue":[78715],"teaser":"What we\u2019re tracking this morning regionally and around the world","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.31b3ded2-7b7b-48e4-9882-277b63f679f3.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TODAY: KSA\u2019s Future Aviation Forum nets SAR 75 bn in agreements + Kuwait\u2019s air cargo city project takes a step forward - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/05\/22\/today-ksas-future-aviation-forum-nets-sar-75-bn-in-agreements-kuwaits-air-cargo-city-project-takes-a-step-forward\/\" 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