‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.Business Economy Tourism
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...Technology Business Economy
JPMorgan Q3 profit at $13.2bn
The bank’s revenues rose 22 percent to US$39.9 billion.One of the biggest factors in bank’s rise in profit was the increased earnings in net interest income (NII).
NII is the gap between what the bank makes in interest in loans to clients compared with interest payments to customers
Presight, Samruk-Kazyna to form JV
Samruk-Kazyna is Kazakhstan's $70bn asset sovereign wealth fund.The joint venture aims to accelerate digital transformation in Kazakhstan.
Presight will deploy its AI and big data analytics solutions and technologies.
World’s biggest sustainable farm in Saudi enters Guinness Records
Riyadh, Saudi Arabia – A farm in Saudi Arabia has entered the Guinness World Records as the world's largest sustainable...The farm is one of the extension farms of the rejuvenated water farming research unit of the Bin Heshbal Valley in the Asir Region.
The total area of the farm is 3.2 million square meters, divided into two sections, each with a concrete tank with a capacity of 500 cubic meters.
Disasters cause crop losses worth $3.8trn over 30 years, says FAO
PARIS, FRANCE - Natural and man-made disasters have caused $3.8 trillion in crop and livestock loses over 30 years, the UN's...Floods, droughts, insect infestations, storms, disease and war caused about $123 billion per year in lost food production between 1991 and 2021.
This loss is the equivalent of five percent of total production or enough to feed up to half a billion people per year, the FAO said in a report.
UAE sourced 30% of its gems and jewelry imports from India
Dubai, UAE - The gem and jewelry trade between India and the United Arab Emirates (UAE) has seen substantial growth,...The UAE's jewelry imports from India amount to $3.12 billion out of the total $10.48 billion from various parts of the world
The revelation was made during his address at the third edition of the International Gem and Jewelry Show in Dubai
Delta posts Q3 profits of $1.1b
The company’s revenues rose 11 percent to $15.5 billion.Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."
Red Sea Global launches Saudi’s first seaplane company
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations -...Fly Red Sea aims to transport guests to various resorts scattered among the islands of Red Sea Destination.
These resorts include St. Regis Red Sea Resort and Nujuma, Ritz Carlton Reserve, which would be inaugurated later in 2023
Dollar sukuk activity for 2023 on course to outpace 2022: Fitch
Dubai, UAE: US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies,...The third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond issuance fell by 17 percent YoY.
Global outstanding sukuk expanded by 9.8 percent YoY to $823.4 billion at the end of third quarter, with the largest shares in Malaysia (40 percent).
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.
Container traffic rises 11.66 percent in September, says Mawani
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) reported an 11.66 percent surge in container traffic across its trade...Passenger traffic jumped 79.29 percent over the preceding year’s figure of 40,679 passengers to hit 72,934 passengers in 2023.
Mawani’s ports saw 11.83 percent additional vessels dock at its berths with a tally of 1,040 ships contrary to last year’s 930 ships.
