TAIPEI: Taiwan on Thursday demanded China immediately close new flight routes launched close to the island, calling it a “reckless” and politically motivated move.
The Civil Aviation Administration of China (CAAC) announced Thursday that it is opening four routes to help ease congestion in its airspace over the Taiwan Strait, which separates the island from mainland China.
But Taipei said Beijing had not consulted it over the move which “ignores flight safety and disrespects Taiwan.”
“We believe ... this is purposefully using civil aviation as a cover for improper intentions regarding Taiwan politics and even military affairs,” Taiwan’s Mainland Affairs Council said in a statement.
Critics say that the main route in the dispute, M503, runs too close to the island’s airspace.
China’s first attempt to open the route in 2015 sparked protests that prompted Beijing to move it closer to the mainland and use it only for north-to-south flights.
“The rapid growth of flights in western Taiwan Strait airspace in recent years has caused increasingly serious delays,” CAAC said Thursday.
The M503 can now be used for south-to-north flights too, it announced, adding the four new routes are only for civilian flights and that China will maintain technical communications with Taiwan.
Taiwan’s defense ministry said Thursday that the military will intercept, warn and repel if necessary any planes that cross into Taiwanese airspace and threaten the island’s security.
China and Taiwan split after a civil war in 1949 and the island has been self-ruled since. But Beijing still claims the island as part of its territory to be brought back into its fold — by force if necessary.
Beijing has cut off official communications with Taipei since Taiwanese president Tsai Ing-wen came to power in May 2016, as it does not trust her traditionally pro-independence party.
Beijing has also exerted military pressure on Taiwan’s airspace by stepping up drills around the island.
Taiwan demands immediate halt to new China flight routes
Taiwan demands immediate halt to new China flight routes
Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness
RIYADH: Saudi stocks fell sharply on Tuesday, with the Tadawul All Share Index closing down 108.14 points, or 1.03 percent, at 10,381.51.
The broader decline was reflected across major indices. The MSCI Tadawul 30 Index slipped 0.78 percent to 1,378.00, while Nomu, the parallel market index, fell 1 percent to 23,040.79.
Market breadth was strongly negative on the main board, with 237 stocks falling compared to just 24 gainers. Trading activity remained robust, with 164.7 million shares changing hands and a total traded value of SR3.19 billion ($850.6 million).
Among the gainers, SEDCO Capital REIT Fund led, rising 2.73 percent to SR6.77, followed by Chubb Arabia Cooperative Insurance Co., which gained 2.69 percent to SR20.20.
National Medical Care Co. added 1.72 percent to close at SR141.60, while Alyamamah Steel Industries Co. and Thimar Advertising, Public Relations and Marketing Co. advanced 1.57 percent and 1.13 percent, respectively.
Losses were led by Al Masar Al Shamil Education Co., which tumbled 8.36 percent to SR24.65. Raoom Trading Co.fell 6.75 percent to SR64.20, while Alkhaleej Training and Education Co. dropped 6.60 percent to SR18.12 and Naqi Water Co. declined 5.51 percent to SR54.00. Gulf General Cooperative Insurance Co. closed 5.44 percent lower at SR3.65.
On the announcement front, Chubb Arabia Cooperative Insurance Co. signed a multiyear insurance agreement with Saudi Electricity Co. to provide various coverages, expected to positively impact its financial results over the 2025–2026 period. The deal will run for three years and two months and is within the company’s normal course of business.
Meanwhile, Bupa Arabia for Cooperative Insurance Co. announced a one-year health insurance contract with Saudi National Bank, valued at SR330.2 million, covering the bank’s employees and their families from January 2026. Despite the sizable contract, Bupa Arabia shares fell 0.8 percent to close at SR137, weighed down by the broader market weakness.
In contrast, United Cooperative Assurance Co. revealed an extension of its engineering insurance agreement with Saudi Binladin Group for the Grand Mosque expansion in Makkah. The contract value exceeds 20 percent of the company’s gross written premiums based on its latest audited financials and is expected to support results through 2026. However, the stock came under selling pressure, ending the session down 4.51 percent at SR3.39.
