UAE airports set to welcome 135m passengers in 2024, says top civil aviation official 

The rise is set to come from countries such as Canada, South Korea, and the Philippines. Shutterstock.
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Updated 19 December 2023
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UAE airports set to welcome 135m passengers in 2024, says top civil aviation official 

RIYADH: The UAE’s airports are expected to receive 135 million passengers in 2024, a 4 percent surge in traffic over the previous 12 months, according to a top civil aviation executive.  

Speaking to the local newspaper Emarat Al Youm, Saif Al-Suwaidi, the director general of the country’s General Civil Aviation Authority, said current indicators show a growth in the number of flights and destinations of its national carriers.   

Al-Suwaidi added that the rise is set to come from countries such as Canada, South Korea, and the Philippines, as well as Bangladesh and Sri Lanka.   

This increase aligns with several air transport agreements concluded by the authority and improvements it has made during the current year, the newspaper reported Al-Suwaidi as saying. 

Additionally, the sealed deals are projected to lead to an increase in the air transport rights of Emirati carriers, resulting in a rise in their flights, seat capacities, and destinations they reach next year, he highlighted. 

Moreover, Al-Suwaidi continued that increasing passenger numbers, seat capacity and destinations of national carriers will surge the revenues of various entities operating in the aviation sector. 

The GCAA executive also noted that air traffic at the country’s airports during the UN Climate Change Conference in Dubai, or COP28, witnessed a 15 percent jump, the Emirates News Agency, also known as WAM, reported. 

On Nov. 30, the UAE airports witnessed the highest rate of air traffic in civil aviation history, with 2,848 movements, Al-Suwaidi disclosed. 

He added that Al Maktoum International Airport recorded the largest number of scheduled and unscheduled flights on the first day of COP28. 

The executive noted that the aviation sector has achieved significant success in organizing air traffic and ensuring the smooth and safe arrival and departure of all COP28 guests. 

Furthermore, a special electronic platform was launched to control air traffic and closely monitor flights coming to the country to attend the conference, which aided air traffic control in the country. 

According to data available from figures, UAE airports received 62.8 million passengers during the first half of this year, recording a growth of 46 percent compared to the same period last year. 


Saudi stock market opens its doors to foreign investors

Updated 06 January 2026
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Saudi stock market opens its doors to foreign investors

RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.

The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.

According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.

International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.

“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”

In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country. 

This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.

Saudi Arabia, which ‌is more than halfway ‍through an economic plan ‍to reduce its dependence on oil, ‍has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.