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ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

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.

Dubai tourist visa: 10-day overstay grace period abolished

Dubai, UAE - Dubai has scrapped the 10-day grace period for visitors whose tourist visas have expired, Arabian Business reported...
  • Previously, individuals who overstayed their visas were allowed an additional 10 days in Dubai before facing penalties
  • This means it is crucial for visitors to ensure their visas are valid and to apply for an extension if necessary to avoid penalties

Ajman hotels posts 3% increase in revenues in Q1 2023

AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
  • Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
  • The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.

Hyatt to develop tourist destinations in Saudi Arabia

Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...
  • The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
  • They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc

73.1m tourists to Saudi Arabia spent $35.54 billion in 9M 2022

Riyadh, Saudi Arabia -- Nearly SAR 133.3 billion ($35.54 billion) were spent in the first nine months of 2022 by...
  • Saudi Arabia's Ministry of Tourism defines a tourist as every visitor (domestic, inbound or outbound) with an overnight stay in the place visited.
  • Saudi Arabia ranked second on the list of the fastest-growing tourism destinations in the first quarter of 2023, according to the latest data from World Tourism Organization.

Saudi Arabia ranks 2nd fastest growing tourism destination in world

The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest...
  • The kingdom also became 13th globally, advancing by 12 places, as one of the top countries receiving international tourists in 2022
  • The number of international tourists who visited the kingdom, for all travel purposes, hit 16.6 million in 2022, WTO reported

Three new beaches for night swimming open in Dubai

Dubai, UAE - Dubai has given a boost to its beach tourism by opening three new beaches for night swimming...
  • The 800-metre-long night-swimming beaches feature lighting systems, which enable residents and tourists to swim around the clock.
  • The emirate’s wide diversity of beaches provide people the opportunity to enjoy vibrant seaside dining and diverse activities, WAM reported.

Global tourism industry is on track to reach pre-pandemic levels

MADRID, SPAIN -  The World Tourism Barometer published its second report of the year, which showed that international tourism is...
  • During Q1 2023, twice as many people traveled internationally than in the same period of 2022, with 235 million estimated tourists.
  • The report revealed that international arrivals have reached 80 percent of pre-pandemic levels in the first quarter of 2023.

Saudi Arabia launching tourism projects worth $400m

Riyadh, Saudi Arabia - Saudi Arabia is launching tourism projects worth SAR 1.5 billion ($400 million) in the targeted destinations...
  • The Saudi Ministry of Tourism has sponsored ‘The Collective’ initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects under one umbrella
  • The announcement represents an important step toward achieving the objectives of the national tourism strategy by developing quality hospitality facilities

GCC considers unified visa system to boost tourism

Ministerial-level talks are underway among the GCC nations to achieve a single visa agreement, says Bahrain's Tourism Minister Fatima Al...
  • Ministerial-level talks are underway among the GCC nations to achieve a single visa agreement, says Bahrain's Tourism Minister Fatima Al Sairafi during an event in Dubai
  • The unified GCC visa strategy aims to boost tourism sector's contribution to GDP, create employment, enhance competitiveness and ensure sustainability of the industry

Abu Dhabi named smartest city in MENA region and 13th globally

Abu Dhabi, UAE - Abu Dhabi has been named the smartest city in the Middle East and North Africa (MENA)...
  • The study surveyed 120 residents in each of the 118 cities and evaluated infrastructure and digital services available to them
  • It focussed on five main pillars: health and safety, mobility, activities, work and education system, and governance.

Jordan’s Umm al-Jimal added to UNESCO heritage list

Amman, Jordan - Jordan's Umm al-Jimal village has been added to UNESCO's World Heritage List, in a move hailed on Sunday...

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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...

SeaWorld Yas Island, Abu Dhabi wins Guinness World Records

ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...

Saudi RCU begins rock excavation for Sharaan Resort in AlUla

ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has marked a significant milestone in the development of the...

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Ten years from home World Cup, Saudi sizes up ‘huge challenge’

As the only  bidder, Saudi Arabia was anointed host of the 2034 World Cup last October by FIFA. Infrastructure is...
  • To host the 48-team World Cup, the country needs 14 all-seater stadiums capable of holding at least 40,000 people, according to the bid document
  • Saudi sports ministry is preparing to issue tenders worth 10 billion riyals ($2.69 billion) to build and expand football venues, according to domestic media

RSG, Hyundai Motor ink pact

The two firms will explore opportunities in various areas.
  • The two parties will focus on validating and deploying Hyundai Motor Group's eco-friendly mobility solutions.
  • They will explore future mobility solutions, such as autonomous vehicles, Advanced Air Mobility and maritime vessels.

World’s only Dragon Ball theme park launched in Saudi Arabia’s Qiddiya City

RIYADH, SAUDI ARABIA – The Board of Directors of the Qiddiya Investment Company (QIC) revealed on Sunday the launch of...
  • Nestled within Qiddiya City, just 40 minutes from Riyadh, this never-seen-before anime theme park is set to become a spectacle.
  • Inspired by the seven legendary Dragon Balls, visitors can navigate seven distinctively themed zones within the park.