INSEAD Day 4 - 728x90

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

MAWANI signs MoU to build cruise terminal at Dammam port

The new terminal is likely to boost tourism in the kingdom.
  • New terminal expected to boost the kingdom's tourism sector along the coastlines.
  • The agreement with Cruise Saudi and Globe Group elevates Saudi Arabia’s position as a leader in the cruise industry, said President MAWANI.

The Saudi Ports Authority (MAWANI) has signed an agreement with Cruise Saudi and Globe Group to build a new cruise terminal at King Abdulaziz Port in Dammam and four berths at King Abdulaziz Port in Dammam and Yanbu Commercial Port.

MAWANI said the move comes as part of its ongoing efforts to empower the kingdom’s tourism sector through support for cruises along the coastlines of the Arabian Gulf and the Red Sea, in line with the goals of the National Transport and Logistics Strategy.

Omar bin Talal Hariri, ‏President of MAWANI, said the agreement “elevates Saudi Arabia’s position as a leader in the cruise industry and enhances the visitor experience for guests in the kingdom”.

“We will continue to work together with our partners to develop a sustainable, thriving marine transport ecosystem that contributes to the competitiveness of Saudi Arabia’s ports, supports the Kingdom’s socio-economic aspirations, and helps to achieve the ambitions of Vision 2030.

On July 30, MAWANI and Cruise Saudi announced the opening of the first cruise terminal at Jeddah Islamic Port, from which the MSC Bellissima set sail on its maiden voyage to destinations across the region.

A series of training programs for Saudi professionals was also announced within various maritime industries in collaboration with MSC Cruises.