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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Visa-free Russia travel on the horizon for Saudi, Oman, Bahrain, Malaysia, Kuwait

Sochi, Russia -.Starting in 2024, travelers from Saudi Arabia, Oman, Kuwait, Malaysia  and Bahrain may no longer need tourist visas...
  • Russia and China have been ready to receive groups of visa-free tourists on a reciprocal basis
  • Visa-free group tourism was also launched between Russia and Iran on August 1

Hotels in UAE generate revenues of US$7bn in first seven months, says minister

ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
  • Hotel establishments in the country hosted 16 million guests in in the first seven months of 2023, said the UAE economy minister.
  • Some 56 million hotel nights have been booked while the occupancy rate reached 75 percent from January to July.

Saudi Arabia to enhance air connectivity to over 250 destinations by 2030

RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...
  • The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
  • Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.

Russia plans visa-free travel with Latin American countries

MOSCOW, RUSSIA – A senior Russian official said that they intend to move towards visa-free travel with all countries of...
  • The Director of the Russian Foreign Ministry’s Latin American Department said that visa-free travel with all Latin American states is an achievable goal.
  • The statement on visa-free travel was made by the senior diplomat on the sidelines of the "Russia - Latin America" conference.

Producer Baz Luhrmann to be head of jury at Red Sea International Film Festival 2023  

JEDDAH, SAUDI ARABIA - The Red Sea International Film Festival has said that internationally renowned writer, director and producer Baz...
  • The festival's third edition will take place from November 30 to December 9 in Jeddah.
  • The event will showcase movies from filmmakers from the Arab region, Asia and Africa.

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 outpaces Saudi Arabia and UAE in tourism growth with 147% surge

Doha, Qatar - Qatar has emerged as the leading player in the Middle East tourism sector, boasting an impressive 147%...

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Meet Middle East tourism’s power players

Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent....

Tehran, Baghdad to launch maritime passenger transport line

TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an...

DWTC welcomes 2.47m visitors in 2023, says EVP

DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC)  Mahir Julfar said that the DWTC's performance in 2023...

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flynas receives 50th jetliner out of 120 Airbus A320neo ordered

RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
  • The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.
  • The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.

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...
  • Four years on, the GCC has not just recovered faster than was expected, but it has also led the global tourism recovery with a 122% surge in arrivals in 2023 compared to 2019
  • The region has assiduously worked for it with its two major economies, Saudi Arabia and the UAE, embarking on economic diversification with tourism one of the thrust areas

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...
  • The NRS shipping service will link Jeddah Islamic Port to Yanbu Commercial Port, Neom Port, Aqaba Port in Jordan, and Sokhna Port in Egypt.
  • This will further establish the Kingdom's position as a global logistics hub that bridges three continents,