MEA market decision-making cycle is fast but risk-averse
MEA markets feature rapid growth, high owner influence, diverse operator models, and younger hotel infrastructure, says Ralph Melis, co-founder and...
Interview
Gold hits record high, dollar falls as US targets Fed
Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he...
Business
Business
Palestinians optimistic but wary after recognition moves
The agreement signed with Khaldoon Al Mubarak, managing director of the Abu Dhabi government-controlled fund Mubadala, opens "a new era...
- The Palestinian Authority says that 142 of the 193 UN member countries already recognize a Palestinian state.
- In the West Bank and Jerusalem, people AFP spoke to were optimistic but wanted more tangible acts towards Palestinian sovereignty.
Geostrategy
Women’s tennis signs ‘multi-year partnership’ with Saudi investment fund
New York, United States -- The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign...
- The WTA said in a statement that it shared with PIF an "ambition to grow women's professional tennis and inspire more women and girls around the world to take up the game."
- In early January, Saudi Arabia appointed Rafael Nadal as ambassador of the Saudi Tennis Federation.
Business
Global tourism set to return to pre-Covid levels in 2024
Saudi Arabia and the UAE are the only high-income economies to rank among the top 10 most improved economies between...
- The Middle East had the highest recovery rates in international tourist arrivals (20 percent above the 2019 level).
- The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland.
Geostrategy
Allies mourn Raisi’s death, hailed as supporter of Palestinian resistance
Paris, France -- Iran's powerful allies on Monday mourned the death of its President Ebrahim Raisi in a helicopter crash, while...
- Iran's Gulf neighbors Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar and Oman sent their condolences.
- Hamas mourned Raisi as an "honorable supporter" of the group and hailed his "support for the Palestinian resistance".
Geostrategy
Israel, Hamas reject bid before ICC to arrest leaders for war crimes
Karim Khan said he was seeking warrants against Netanyahu and Israeli Defense Minister Yoav Gallant for crimes including "starvation", "willful...
- If granted, the warrant means that technically any of the 124 ICC member states would be obliged to arrest Netanyahu if he travelled there.
- The charges laid against the Hamas leaders including Yahya Sinwar and Ismail Haniyeh include "extermination" and "taking hostages".
Arts & Culture
Saudi fashionistas attempt beach rebrand
The setting for Red Sea Fashion Week, the St Regis Red Sea Resort on Ummahat Alshaikh island, is part of...
- Beach developments are seen as major potential attractions, and Red Sea Fashion Week was partly intended to highlight what is already in place.
- Officials involved in Red Sea Global stress they are making progress, opening two resorts last year and preparing to launch 14 more hotels by the end of next year.
Business
Moroccan enterprises give jobs, hope to people with disabilities
Rabat, Morocco -- Fadoua Lamrani was elated when she was hired as a waitress at a restaurant in Morocco which employs people...
- CIAT aims to overcome social and cultural constraints to help people with disabilities into jobs they would usually find hard to obtain.
- Six other centers for people with disabilities have been launched since 2016, providing apprenticeships for 228 people.
Geostrategy
UN aid chief warns of ‘apocalyptic’ consequences of Gaza shortages
"If fuel runs out, aid doesn't get to the people where they need it, that famine, which we have talked...
- An Israeli incursion into the southern Gaza city of Rafah, launched in the face of international outcry, has deepened an already perilous humanitarian crisis in the Gaza Strip.
- The UN said on Saturday that 800,000 people had been "forced to flee" Israel's assault in Rafah.
Business
OpenAI disbands team devoted to artificial intelligence risks
San Francisco, United States -- OpenAI on Friday confirmed that it has disbanded a team devoted to mitigating the long-term dangers...
- OpenAI weeks ago began dissolving the so-called "superalignment" group, integrating members into other projects and research, according to the San Francisco-based firm.
- Company co-founder Ilya Sutskever and team co-leader Jan Leike announced their departures from the ChatGPT-maker this week.
Geostrategy
Israeli leaders split over post-war Gaza governance
Jerusalem, Undefined -- New divisions have emerged among Israel's leaders over post-war Gaza's governance, with an unexpected Hamas fightback in parts...
- After Hamas regrouped in northern Gaza, where Israel previously said the group had been neutralized, broad splits emerged in the Israeli war cabinet in recent days.
- Netanyahu came under personal attack from Defense Minister Yoav Gallant for failing to rule out an Israeli government in Gaza after the war.
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MEA market decision-making cycle is fast but risk-averse
MEA markets feature rapid growth, high owner influence, diverse operator models, and younger hotel infrastructure, says Ralph Melis, co-founder and...
Interview
Company News
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ADNOC Gas awards contracts
The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.
Business
The $480 billion creator economy revolution
We're likely to see more creators seeking alternatives to traditional gatekeepers, following in the footsteps of artists like Taylor Swift....
Opinion
Qatar’s real estate department records weeklong deals worth $71 million
Doha, Qatar -- Real estate sales contracts worth 251.25 million qatari riyals were registered with the emirate's Real Estate Registration...
Business
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Business
Saudi Arabia retains first rank in MENA Venture Capital funding in 2024
Riyadh, Saudi Arabia -- Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in...
- The Kingdom secured the highest, 40 percent, share of total VC funding in the MENA region in 2024.
- The report also revealed that Saudi Arabia set a new record with 178 VC deals in the same year.
Business
ADNOC L&S buys stake in Navig8
The company will acquire the remaining stake in mid-2027.
- Navig8 is an international shipping pool operator and commercial management company with a modern-owned fleet of 32 tankers and a presence in 15 cities across five continents.
- This value-accretive acquisition is expected to boost ADNOC L&S’ earnings per share by at least 20 percent in 2025 compared to 2024.
Business
DAE to acquire Nordic Aviation Capital
The terms of the transaction have not been disclosed.
- As of September 2024, NAC’s fleet comprised of 252 owned and committed assets on lease to approximately 60 airline customers in approximately 40 countries.
- On a pro forma basis, DAE Capital’s fleet will comprise of approximately 750 owned, managed and committed aircraft.