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ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Innovation steers Middle East through tourism swings

Facing tourism seasonality challenges, the region diversifies offerings, enhances infrastructure, and collaborates, for year-round success despite temperature fluctuations.
  • The Middle East combats tourism seasonality and temperature challenges with innovative strategies for consistent year-round appeal
  • Using diversified tourism, improved infrastructure, and collaboration, destinations can maximize off-peak season benefits in the region

China grants Approved Destination Status to Saudi Arabia

RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom.The bilateral agreement, signed on...
  • The bilateral pact allows Chinese citizens to travel to Saudi Arabia in group tours in addition to facilitating greater ease of access.
  • ADS will drive greater connectivity between Saudi Arabia and China and unlock new opportunities across the tourism ecosystem.

Chinese President Xi Jinping declares biggest-ever Asian Games open

Chinese President Xi Jinping opened the 19th Asian Games in a colourful ceremony in Hangzhou, launching a two-week sporting extravaganza...
  • In front of Syrian President Bashar al-Assad and other visiting leaders, Xi officially opened the Games at the 80,000-capacity Hangzhou Olympic stadium.
  • The theme of the ceremony was water and it also celebrated Hangzhou's ancient history and landscape.

$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...
  • These compensations were given primarily to deal with issues such as delays, loss of luggage, flight cancellations.
  • GACA aims to ensure that passengers are well-informed about their rights and can easily obtain refunds as per the regulations.

Sudan refugees bring off-season tourism to Egypt’s Aswan

Around 310,000 people have crossed from Sudan into Egypt since war broke out on April 15 between the forces of...
  • "Since our Sudanese brothers came from the war, work has started to get better and there's been more work in tourism,"a boat captain said
  • Egypt is currently going through its worst-ever economic crisis, which has devastated purchasing power across the country

Qatar Tourism appoints Olympic champion Mutaz Barshim as brand ambassador

Doha, Qatar - Qatar Tourism has appointed Olympic and World champion, Mutaz Barshim, as its newest brand ambassador.Barshim, who recently...
  • Barshim recently set a world record as the only high jump athlete to win five World Championship medals
  • Qatar recently concluded its Summer in Qatar season, which saw the debut of the country’s first-ever Qatar Toy Festival, and ‘Disney on Ice.’

EIH acquires stake in 9Yards Comm

The acquisition aims to broaden EIH's investment portfolio.
  • EIH has cultivated a diversified, innovative and sustainable investment portfolio comprising over 40 successful companies across various sectors.
  • 9Yards Communications has a broad client portfolio encompassing government entities and private organizations both domestically and internationally.

Kuwait Airport expects 13% rise in passenger numbers, says DGCA

KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...
  • The total passenger traffic from Kuwait International Airport in the present summer season is expected to reach 5.75 million passengers.
  • Kuwait Airport expects to operate 45,000 flights this season, an increase of 15 percent compared to last year.

UAE witnesses record 2.4m tourists in first six months of 2023

Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a...
  • The emirate’s hotel establishments generated revenues exceeding AED3 billion during the same period, a 26 percent growth compared to last year.
  • The hotels also recorded an average occupancy rate of 70 percent, with the average stay in the emirate's hotels being 2.7 nights.

To boost tourism, Saudi Arabia expands visitor e-visa to eight more countries

Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa...
  • The kingdom's visitor e-visa is valid for an entire year, grants multiple entries, and permits a stay of up to 90 days
  • The oil-rich country has seen rapid growth in tourism due to its visa initiatives, which now include 57 nations

Saudi Arabia leads GCC travel growth to India with a 40% rise in flight searches: report

Riyadh, Saudi Arabia - Wego, the leading travel app and largest online travel marketplace in the Middle East and North...

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GCC tourism growth skyrockets as diversification drive gains momentum post-Covid

GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...

New shipping service in Saudi Arabia launched

RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...

Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia

Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...

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Qatar looks to boost tourism sector by streamlining regulations

Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
  • Chairman of Qatar Tourism Saad bin Ali bin Saad Al Kharji said Qatari tourism sector has witnessed significant development in recent years
  • Al Kharji said that it is one of the main pillars of the state's strategy for economic diversification under the Qatar National Vision 2030

Middle East to receive millions of Chinese tourists lost in Covid pandemic

Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...
  • The Middle East will be the first region globally to recover its Chinese inbound market with full recovery expected in 2025
  • According to data from the Chinese travel site Trip.com, bookings for overseas travel during Chinese New Year, soared by 540%

Visa-free policies make Middle East preferred destination for Chinese travelers

Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a...
  • Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese tourists flocking to the UAE
  • Destinations like the UAE, Saudi Arabia, Qatar, Egypt, and Morocco have witnessed increasing demand from Chinese travelers, partly due to their visa-free policies