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
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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.


Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness

Updated 30 December 2025
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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.