Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...
Business
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
Economy
Business
Qatar ports handle 140,000 tons of cargo in Dec 2022
Riyadh, Saudi Arabia-- The Qatar Ports Management Company (Mwani Qatar) said Sunday that it handled over 140,000 tons of cargo...
- Mwani Qatar said that it had received 267 cruises last December, with an increase of five percent, compared to the same period last year.
- It added that 6,263 vehicles and equipment, along with 38,867 heads of cattle and 45,985 tons of building and construction materials were received.
Business
10-day Citrus Festival concluded in Hail region of Saudi Arabia
Hail, Saudi Arabia---The second edition of the 10-day Citrus Festival, which was held in Hail region, has concluded after witnessing...
- General Supervisor of the Festival, Khaled Al-Batea said more than 80 participants displayed citrus products from all farms of the Hail region.
- During the festival, six workshops and a seminar on cooperative societies were held.
Business
Saudi fans flood stores to buy Ronaldo shirts after Al Nassr deal
An unprecedented rush at the Al Nassr kit store started as soon as reports of the deal were leaked to...
- Ronaldo on Friday signed for Al Nassr until June 2025 in a deal believed to be worth more than $200 million
- The football star heads to the Gulf after a year that saw him relegated to the bench for Portugal and cut adrift by Manchester United
Business
US judge orders cruise lines to pay nearly US$450m for using Cuba port
Washington, United States--Four cruise lines have been sentenced by a US judge to pay a total of nearly $450 million for...
- The ruling Friday by a federal judge in Florida requires the Carnival, MSC SA, Royal Caribbean and Norwegian lines to pay $109 million each, plus court costs, to Havana Docks
- The cruise lines had argued that the Obama administration had authorized their travel to Cuba and that they fell under a "lawful travel" exception
Business
Saudi Ministry of Industry, Hyundai Motor ink MoU to build cars in Kingdom
RIYADH, SAUDI ARABIA - Saudi Ministry of Industry and Mineral Resources has signed a memorandum of understanding with Hyundai Motor...
- The agreement aims at enhancing cooperation in a way that realizes the national strategic goals for industry in developing local manufacturing capabilities.
- The MoU stipulates building an assembly plant with the CKD system for electric cars and internal combustion engines cars in Saudi Arabia.
Business
Hudini set to double growth in 2022
With over 60% of hotel executives looking to introduce a fully contactless experience by 2025, Hudini witnesses unprecedented demand for...
- With over 60% of hotel executives looking to introduce a fully contactless experience by 2025, Hudini witnesses unprecedented demand for its solutions
- Hudini enables hotels to provide a connected guest journey from pre-arrival to post departure, ensuring a faster, contactless, and hyper-personalized service delivery
Business
Qatar coach departs after team’s dismal Word Cup
Doha, Qatar-- World Cup hosts Qatar announced Friday that national coach Felix Sanchez had been let go with the end of...
- The Qatar Football Association said it had decided "not to extend Felix Sanchez's contract as head coach of the Qatar national team
- The team's three defeats brought harsh criticism on social media and defender Abdelkarim Hassan has been booted out of his Al Sadd side because of his reaction
Business
Ronaldo signs $200m deal with Saudi Arabia’s Al-Nassr
The Portuguese football star Cristiano Ronaldo has signed for Al Nassr of Saudi Arabia in a deal believed to be...
- Ronaldo heads to the Gulf after a year that saw him relegated to the bench for Portugal and cut adrift by Manchester United
- Saudi Arabia has staged heavyweight boxing title bouts, has hosted a Formula One grand prix the last two years as well as the Dakar Rally
YEARBOOK 2023
Data set to drive GCC telecom growth in 2023
Mobile data service revenues are expected to reach 60 percent of the total GCC mobile service revenues by 2026.
- The GCC mobile market is forecasted to grow meagerly at a CAGR of 1.9 percent during 2021-26.
- To arrest a further decline in voice revenues, mobile operators have been selling mobile voice and data service bundles.
Business
Dubai records US$2.6bn in weekly real estate transactions
DUBAI, UAE - A total of 2,790 real estate transactions worth US$2.6 billion (AED9.6 billion) were conducted during the week...
- A total of 2,790 real estate transactions worth $2.6 billion were conducted during the week ending December 30, 2022.
- The DLD report showed that 179 plots were sold for $378 million.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...
Business
Company News
Funding key challenge for Middle East innovators
Investigation
Funding key challenge for Middle East innovators
Investigation
British Steel to cut 2000 jobs
Business
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Qatar Airways’ CEO to quit
Business
Chevron to acquire Hess
Business
Aramco to acquire 40% stake in GO
Gas & Oil is one of the largest retail and storage firms in Pakistan.
Business
SABIC announces 16% H2 cash dividend
The dividend of $1.27 billion is payable on Mar 4, 2024.
Business
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Business
Microsoft and US labor group join hands on AI
The alliance comes as workers and governments are fretting over the potential repercussions of AI on work, with fears that...
- Microsoft will train labor leaders and workers on how artificial intelligence works
- The labor group and the tech giant will also collaborate on how to shape public policy
Economy
Jordan’s mission to save its ancient olive trees
Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...
- Jordan has 11 million olive trees in groves that make up 20 percent of all cultivated land in the country
- They produce 50,000 tons of olives and 25,000 tons of olive oil annually, contributing $169 million to the economy
Business
ADX and Abu Dhabi Housing Authority sign agreement to boost data exchange
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Abu Dhabi Housing Authority signed a service level agreement to...
- The agreement between the two entities is designed to enhance service and improve overall customer experience for Emiratis
- It will simplify the method used for accessing investor data on ADX, benefiting from Abu Dhabi Housing programs with increased efficiency