GACA preparing Saudi Arabia as a global logistics center

GACA President Abdul Hakim Al-Tamimi speaks during a roundtable meeting with major UK civil aviation companies on Thursday. (SPA)
Updated 06 September 2018

GACA preparing Saudi Arabia as a global logistics center

JEDDAH: The General Authority of Civil Aviation (GACA), in cooperation with the Saudi-American Business Council, organized a roundtable meeting with major UK civil aviation companies. 

The meeting discussed the Saudi aviation sector and possible investment opportunities in it. Representatives of relevant departments at GACA met with more than 60 representatives of Saudi and British companies.

GACA President Abdul Hakim Al-Tamimi delivered a speech in which he reviewed investment opportunities in the Saudi aviation sector in light of a rise in air traffic and the number of infrastructure projects being implemented.

A wide variety of investment opportunities regarding airport operation and the provision of advanced consultancy services was discussed.

He stressed GACA’s eagerness to strengthen the Saudi civil aviation industry and harness the required capabilities to keep pace with steady growth in air transport in the Kingdom, so as to attract international companies to invest in airport infrastructure and services. 

GACA is striving to make the Kingdom a global logistics center linking three continents and receiving more than 30 million pilgrims by 2030, Al-Tamimi said.

During the meeting, companies were briefed on the development of the investment environment in the Kingdom, and on investment opportunities in the aviation sector. 

Manchester City’s European ban quashed on appeal

Updated 9 min 54 sec ago

Manchester City’s European ban quashed on appeal

  • Initial fine of $34 million was also reduced to $11.3 million on appeal

LAUSANNE: Manchester City will be free to play Champions League football next season after the Court of Arbitration for Sport (CAS) lifted a two-season ban from European competitions imposed by UEFA on Monday.
An initial fine of $34 million was also reduced to $11.3 million on appeal.
City were accused of deliberately inflating the value of income from sponsors with links to the Abu Dhabi United Group, also owned by City owner Sheikh Mansour, to avoid falling foul of financial fair play (FFP) regulations between 2012 and 2016.
The case against City was reopened when German magazine Der Spiegel published a series of leaked emails in 2018.
However, CAS found that “most of the alleged breaches reported by the Adjudicatory Chamber of the CFCB (UEFA Club Financial Control Body) were either not established or time-barred.”
City welcomed the decision that will have huge ramifications on the club’s finances and potentially the future of manager Pep Guardiola and star players such as Kevin De Bruyne and Raheem Sterling.
“Whilst Manchester City and its legal advisers are yet to review the full ruling by the Court of Arbitration for Sport (CAS), the club welcomes the implications of today’s ruling as a validation of the club’s position and the body of evidence that it was able to present,” City said in a statement.
“The club wishes to thank the panel members for their diligence and the due process that they administered.”
Since Sheikh Mansour’s takeover 12 years ago, City’s fortunes have been transformed from perennially living in the shadow of local rivals Manchester United to winning four Premier League titles in the past eight years among 11 major trophies.
On Saturday, they secured qualification for the Champions League for a 10th consecutive season with a 5-0 win at Brighton.
More silverware could come before the end of the season as Guardiola’s side face Arsenal in the FA Cup semifinals on Saturday before restarting their Champions League campaign in August, holding a 2-1 lead over Real Madrid from the first leg of their last 16 tie.
City’s victory in court will raise fresh questions over how effectively UEFA can police FFP.
But European football’s governing body said it remained committed to the system which limits clubs to not losing more than 30 million euros, with exceptions for some costs such as youth development and women’s teams, over a three-year period.
“UEFA notes that the CAS panel found that there was insufficient conclusive evidence to uphold all of the CFCB’s conclusions in this specific case and that many of the alleged breaches were time-barred due to the five-year time period foreseen in the UEFA regulations,” UEFA said in a statement.
“Over the last few years, Financial Fair Play has played a significant role in protecting clubs and helping them become financially sustainable and UEFA and ECA remain committed to its principles.”