EgyptAir set to fly back to Qatar

EgyptAir set to fly back to Qatar
EgyptAir planes are seen on the tarmac, following an outbreak of the coronavirus disease (COVID-19), at Cairo International Airport in Cairo, Egypt. (Reuters)
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Updated 13 January 2021

EgyptAir set to fly back to Qatar

EgyptAir set to fly back to Qatar
  • The Egyptian Ministry of Aviation said that the first Qatari flights will arrive at Borg El Arab Airport next Thursday

CAIRO: EgyptAir plans to operate a daily flight to the Qatari capital, Doha, after airspace was reopened between the two countries following the AlUla agreement that was concluded in Saudi Arabia last week.

The Chairman of EgyptAir Holding Company Rushdi Zakaria said that EgyptAir might add another daily flight to Qatar in the event of increased demand.

He said that the date for the operation of the flights will be announced once the necessary permits are completed between aviation authorities in the two countries.

He added that the flight schedule has been prepared, uploaded to operating systems, and is being marketed by EgyptAir.

Following the AlUla agreement, the Egyptian Ministry of Civil Aviation decided to resume flights with Qatar, reopen its airspace to Qatari airlines. 

The decision to close airspace had lasted nearly three and a half years.

Flights between Qatar and Saudi Arabia were resumed on Monday after the recent reconciliation between the Gulf parties. The UAE and Bahrain also announced the opening of their airspace to Qatari aviation.

The Egyptian Ministry of Aviation said that the first Qatari flights will arrive at Borg El Arab Airport next Thursday.

Sources confirmed that the airspace reopening is the first step in the path of restoring relations between the two nations.

A meeting is expected in the coming weeks between Qatari and Egyptian diplomatic and security officials. 

Qatar will resume several economic projects in Cairo — after it obtained approvals for their completion — including the Deyaar company being given approval by the New Urban Communities Authority to complete the CityGate project.


Gold ticks up on weaker dollar, US stimulus hopes

Gold ticks up on weaker dollar, US stimulus hopes
Updated 4 min 12 sec ago

Gold ticks up on weaker dollar, US stimulus hopes

Gold ticks up on weaker dollar, US stimulus hopes
  • Spot gold rises 0.1 percent to $1,854.95 per ounce by 0329 GMT
BENGALURU: Gold prices gained on Monday as the dollar eased and hopes that a massive economic stimulus in the world’s largest economy would be passed remained intact.
Spot gold rose 0.1 percent to $1,854.95 per ounce by 0329 GMT, recovering from a 0.9 percent decline in the previous session. US gold futures eased 0.1 percent to $1,854.30.
President Joe Biden’s administration tried to head off Republican concerns that his $1.9 trillion pandemic relief proposal was too expensive on a Sunday call.
“We’re seeing bigger question marks over the passage of Biden’s stimulus package, Senate Republicans are starting to stand a bit more objectionable with particular parts of the package,” said Lachlan Shaw, National Australia Bank’s head of commodity research.
“So it does raise the question about the speed and the timing of the package.
(Although,) some of the issues of the vaccine delays in the US are perhaps tilting the balance in odds of favor of that stimulus,” Shaw added.
The dollar was down 0.1 percent against rival currencies, making gold cheaper for holders of other units.
Gold is considered a hedge against inflation, likely from widespread stimulus.
Also supporting the precious metal, global coronavirus cases rose to more than 98 million as countries struggled to increase the pace of vaccinations.
Investors now await the US Federal Reserve’s policy meeting due on Jan. 26-27.
“The Fed is likely to take the conservative course and wait for additional data and assume fragility, given the short-run effects of tackling COVID in the US more aggressively could weaken sales and domestic economic activity,” said Nicholas Frappell, global general manager at ABC Bullion.
“The longer term outlook and technical support remain bullish so above $1,840, look for moves back to $1,870-$1,880.”
Silver gained 0.7 percent to $25.58 an ounce, platinum rose 0.1 percent to $1,099.61, and palladium added 0.1 percent to $2,354.47.