Airlines less optimistic for 2025, facing ‘headwinds’: IATA
New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...
Business
Saudi Pro League announces long-term partnership with Maaden
Riyadh, Saudi Arabia - The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic...
Business
Business
NEOM, Saudi Red Sea Authority to partner in marine tourism
NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
- The partnership will promote the sharing of expertise and enable the implementation and activation of joint initiatives.
- The agreement specified several areas of cooperation, such as supporting opportunities available to investors in coastal tourism and water activities.
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
- The WHO says 1.2 million people, half of Gaza's population, have sought refuge in Rafah, which has been repeatedly threatened by Israel with an invasion.
- US has reiterated its objections to a Rafah offensive, saying Israel has not presented a plan to protect the civilians sheltering there.
Business
Audi’s sustainable Middle East luxury drive
The Arab countries are experiencing a significant surge in the adoption of electric vehicles (EVs), particularly favoring premium models, says...
- There's also a discernible penchant for high-performance and sports models, reflecting the region's enthusiasm for dynamic driving experiences.
- In the Arab world, customers prioritizing eco-friendly options in luxury cars is rising, although it remains somewhat nascent.
Business
As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
- For more than two decades, since the internet upended the advertising and print model on which newspapers had been based, the industry has been in crisis
- Nearly half of US counties have just one news source, the report said, often a weekly newspaper. And 228 are on a so-called "watch list" at high risk of losing even that
Business
30% productivity leap: Building the machinery of tomorrow
By embracing digital tools, AI, and sustainable practices, companies can optimize production, redefine their role, and propel themselves towards a...
- New players are emerging, offering advanced digital solutions that boost shareholder returns and revolutionize customer experiences
- Siloed thinking, a failure to integrate new technologies with existing operational models, and an overreliance on traditional lean manufacturing methods can hinder progress
‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
- What began with Emirates and Dubai has expanded to include Abu Dhabi, Qatar, Bahrain, and Saudi Arabia, says Fahim Jalalli, CEO of Kanoo Travel
- The region hosts numerous trade shows, conferences, and exhibitions, and have so many hotels that are capable of accommodating tens of thousands of attendees, he adds
Business
Top U.S. stock indices drop for third consecutive day on Wednesday
The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward...
- Technology-heavy Nasdaq Composite slid 1.15% to 15,683.37
- Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower
Business
Crypto soars in MENA even as it loses sheen elsewhere
A tech-savvy population sees cryptocurrencies a safe investment option as governments adopt progressive regulatory frameworks, offering innovation and investor protection.
- The Middle East has emerged as the sixth-largest crypto economy globally, according to a report by Chainalysis
- Analysts feel the UAE has demonstrated a forward-thinking approach to harnessing and regulating the crypto sector
Business
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
- In 2023, Saudi Arabia set up four new special economic zones, with incentives for international companies to operate within the kingdom
- SEZs are seen as catalysts for economic diversification, which offer platforms for innovation, entrepreneurship, and investment in non-oil sectors
Business
Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
- The diplomats shared their observations and views on Qatar’s trajectory as a hub for dialogue and the potential of autonomous e-mobility moving forward
- The German embassy is indeed the first diplomatic representation in Doha to utilize an electric vehicle as a staff car
Airlines less optimistic for 2025, facing ‘headwinds’: IATA
New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...
Business
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Tesla Q1 sales sink 13 percent
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Ford’s US Q1 auto sales dip
Business
Future-proofing hospitality asset value needs financial rigor with emotional intelligence
The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...
Opinion
Meta to start using Europeans’ data for AI training May 27
Paris, France -- Meta will start using public posts and comments by its European users to train generative artificial intelligence...
Business
Bank credit to Saudi public and private sectors up by $105 billion: SAMA
Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...
Business
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Business
Denmark’s Royal Unibrew adds AI colleagues into workforce
Fakse, Denmark -- They have names, faces and email addresses, but the five new colleagues at Denmark's Royal Unibrew only...
- Royal Unibrew in Denmark has introduced five virtual AI colleagues with names and backstories to assist human employees with routine tasks and information retrieval.
- The company reports increased engagement since adding photos to the AI agents, and employees interact with them through chats and emails for enhanced efficiency.
Business
Hermes overtakes LVMH as world’s most valuable luxury group
Paris, France -- French group Hermes overtook LVMH as the world's most valuable luxury company on Tuesday after shares in...
- The market capitalization of Hermes reached 248.6 billion euros ($280.5 billion) at the close of trading in Paris, topping LVMH's 244.4 billion euros.
- LVMH shares sank 7.8 percent a day after the group owned by Europe's wealthiest man, Bernard Arnault, reported a two percent drop in first-quarter sales to 20.3 billion euros.
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
- The growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent compared to the figures recorded in 2019.
- Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf GCC-Stat said the sector's contribution to the global GDP in 2024 amounted to 2.2 percent.