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airline - middle east

Major airline travel disruption in the Middle East

Airlines traveling between Europe and Asia will be restricted to two viable alternative routes

Nike reveals USATF Olympic kit image Courtesy: Nike

Athletes criticise Nike for ‘skimpy’ US track team kit

Nike’s track and field kits for men and women include nearly 50 apparel pieces and 12 competition styles for specific events, the brand said when launching the outfits

GCC consulting market set to cross $6bn this year

GCC consulting market set to cross $6bn this year, shows report

The GCC consulting market witnessed a robust 13.2 per cent growth in 2023, surpassing the $5bn mark for the first time

JFK Terminal 6 Roadway-Approach_ render Image courtesy The Port Authority of New York and New Jersey

Investcorp Capital joins $4.2bn JFK redevelopment project

The construction of Terminal 6 will be executed in two phases, with Phase I already underway and expected to be completed by 2025

Consumer spending rises in 2023 shows Majid al Futtaim State of the UAE retail economy report

UAE consumer spending rises 13% in 2023, reveals retail report

The report showed that e-commerce spending continued growing in 2023, with a 15 per cent growth rate since 2022

Instagram , Facebook - META -AI

Meta to start labelling all AI-generated content on Facebook, Instagram

The new labeling approach would apply to content posted on Meta’s Facebook, Instagram and Threads services

Travel, tourism visa applications

Travel, tourism global contribution to hit record $11.1tn in 2024: WTTC

In 2023, the travel and tourism sector accounted for 9.1 per cent share of the global GDP with a workforce of nearly 330 million

oil

Brent settles above $90 for first time since October

Investors will look to economic data and monetary policy for potential clues on the outlook for oil demand

Kuwait-Saudi railway link set for completion in 2028

Kuwait-Saudi rail link set for completion in 2028

This development follows the approval from Saudi Arabia’s cabinet last year on the agreement with Kuwait regarding the railroad project

Dubai South Properties awards Dhs1.5bn contract to AL Kharafi to build new phases

Dubai South awards Dhs1.5bn contract to develop new South Bay phases

South Bay is envisioned as a premier residential community located in the heart of the Residential District in Dubai South

How HONOR is honouring its commitment to innovation

HONOR’s CMO shines the spotlight on the firm’s commitment to innovation

RAY Guo says that by providing a wide range of options, from budget-friendly devices to flagship models, the smart device provider is catering to various market demands

Brent oil price forecast Bloomberg GettyImages-1384536093

OPEC+ gets oil price to its sweet spot, the trick is keeping it there: Insight

While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices

Nassef Sawiris

With investment interests ranging from sports to industry, Sawiris’ NNS Group is moving its headquarters…

UAE’s Jubail Island Investment Company unveils $1.09bn beachfront community in Abu Dhabi

Owned by JIIC, Jubail Island is set to become a premier residential destination, housing six residential villages amidst the rich biodiversity of the mangroves

Oil prices surge after OPEC + extends output cuts

Oil prices hit highest point of 2024 as OPEC+ looks unlikely to change supply policy

OPEC+ members, led by Saudi Arabia and Russia, last month agreed to extend voluntary output cuts of 2.2 million barrels per day to support the market

earthquake

Over-7 magnitude earthquake hits Taiwan, Japan with tsunami warnings issued

The 7.5 magnitude earthquake impacted Japan, Philippines, Taiwan, and China with tsunami warnings issued

Helal Al Marri

Helal Al Marri

Under Al Marri’s watch, Dubai’s Department of Economy and Tourism welcomed a record 17.15 million…

HH Sheikh Ahmed bin Saeed Al Maktoum

HH Sheikh Ahmed bin Saeed Al Maktoum

Sheikh Ahmed bin Saeed Al Maktoum has key roles in various sectors across Dubai’s economic…

Interview with Russell Stokes of GE Aerospace on the GE spinoff and its impact April 2

GE Aerospace’s Russell Stokes on how the spin-off will play out

Operating as a standalone business will give GE Aerospace the flexibility needed to grow the business, says the president and CEO, Commercial Engines & Services. The Middle East is the firm’s largest market globally for widebody aircraft, between engines in service and on order

Oil hovers near 3-week high on Middle East tensions

Oil rises as investors bet on tighter supply

Europe’s firm demand, softness in US supply growth coupled with a possible extension of OPEC+ cuts through 2024 outweigh downside risk from persistent softness in China’s demand

Riyadh Saudi Arabia

Saudi unemployment rate down to 4.4% in Q4 2023

The rate of unemployment, for both Saudi nationals and expats, decreased in the last quarter of 2023 indicating job creation in the economy

TAQA, JERA to build cogeneration plant in Saudi Arabia

TAQA, JERA to build cogeneration plant for Saudi Arabia’s SATORP

The petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region

home mortgage offers - Huspy, Holo

Huspy versus Holo: Mortgage offers under 4% for homebuyers

Driven by technology, various platforms are offering an interface that is secure and transparent, along with financing options from multiple lenders

RTA to open co-working space at Burjuman metro station

Dubai’s RTA pilots co-working space at Burjuman Metro Station

The co-working space offers seamless accessibility via the metro and other public transport modes, obviating the need for a car

Lucid Group secures $1bn from Saudi PIF affiliate

Saudi-backed Lucid Group to raise $1bn from PIF affiliate

The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital

Yahsat proposed merger to go to vote in April -Image-WAM

Bayanat, Yahsat proposed merger to go to vote in April

The merger’s fruition is contingent upon meeting various conditions, including regulatory approvals from entities such as the SCA, ADGM Registration Authority, and other regulatory bodies

Saudi’s Qiddiya City to build world-first Dragon Ball theme park

The unveiling of the theme park follows the launch of Qiddiya City’s gaming and esports district

Financing nature-based solutions in the MENA Region

Financing nature-based solutions in the MENA Region

Public-private partnerships exemplify such collaboration, with government support bolstering confidence among private investors and financial entities to co-invest in NbS projects

NEOM-TREYAM EQUINOX HOTELS

Neom unveils world’s longest infinity pool at Treyam and a cantilevered hotel at Gidori

NEOM’s latest announcements add to the development plan that includes Norlana, Epicon and Aquellum, among others

Lulu Hypermarket

LuLu Group’s potential Abu Dhabi IPO could top $2bn

LuLu’s potential IPO is poised to be among the most notable listings in the Gulf region this year