SHANGHAI: China’s aviation regulator will cut Air China’s flight hours for its Boeing 737 fleet by 10 percent and cancel the licenses for the pilot and co-pilot involved in an emergency descent incident last week, Chinese state television said.
The regulators also would launch a safety crackdown on Air China for three months and fine the airline 50,000 yuan ($7,460), China Central Television said on its WeChat account.
An Air China Boeing 737 aircraft was flying to the Chinese city of Dalian from Hong Kong on July 10 when it dropped to 10,000 feet (3,048 m), with oxygen masks deployed. Then it climbed again to continue to its destination.
The Civil Aviation Administration of China said the incident was linked to a co-pilot smoking an e-cigarette during the flight. ($1 = 6.7018 Chinese yuan renminbi)
China cuts Air China’s flight hours, launches safety review after incident
China cuts Air China’s flight hours, launches safety review after incident
- An Air China Boeing 737 aircraft was flying to the Chinese city of Dalian from Hong Kong on July 10 when it dropped to 10,000 feet (3,048 m), with oxygen masks deployed
Record $14.4bn rise in Saudi holdings of US Treasuries
RIYADH: Saudi Arabia increased its holdings of US Treasuries by 10.71 percent in November in what was the largest increase since data tracking began in 1974, according to the latest official data,
The Kingdom’s US Treasury portfolio stood at $148.8 billion in the month, up $14.4 billion from October.
Following the increase, Saudi Arabia moved up one place to 17th place among the largest foreign holders of US Treasuries.
Countries including Saudi Arabia invest in US Treasuries for their perceived safety, liquidity, diversification benefits, and alignment with economic ties to the US.
The Kingdom’s holdings were 17.25 percent higher in November compared with January 2025.
The allocation highlights Saudi Arabia’s preference for longer-dated US government debt as part of its foreign reserve strategy, focused on capital preservation, liquidity, and diversification amid global market volatility.
Saudi Arabia’s holdings included $106.8 billion in long-term securities, accounting for 72 percent of the total, while short-term holdings stood at $42 billion, or 28 percent.
Globally, Japan remained the largest foreign holder of US Treasury securities at $1.2 trillion, followed by the UK at $888.5 billion, mainland China at $682.6 billion, and Belgium at $481 billion.
Canada ranked fifth with holdings of $472.2 billion, followed by the Cayman Islands and Luxembourg in sixth and seventh positions, with portfolios valued at $427.4 billion and $425.6 billion, respectively.
France placed eighth with $376.1 billion, followed by Ireland at $340.3 billion and Taiwan at $312.5 billion.
Other countries included in the top 20 list include Switzerland, Singapore, Hong Kong, and Norway, as well as India and Brazil.
The trade relationship between Saudi Arabia and the US remains strong, with the Kingdom exporting SR5.20 billion ($1.39 billion) worth of non-oil goods in October, data from the General Authority of Statistics showed.
Speaking to Arab News in October, Nasser Saidi, founder and president of economic and financial advisory services firm Nasser Saidi & Associates and a former minister of economy and trade in Lebanon, said US Treasuries are a critical pillar of stability.
“Holding treasuries allows Saudi Arabia to meet its international payment obligations — finance imports, service external debt, portfolio, and capital flows — provide a buffer against oil revenue shocks, while also generating a steady, low-risk stream of income,” he said.
