Agriculture Onion prices surge 300% in Oman Onion prices have increased by 300 percent in Oman, primarily due to a ban on exports from India, according to a local media report. Prices rose from 0.14 baisas ($0.36 cents) per kilogramme in 2023 to 0.47 baisas per kilogramme in December of 2023, before surging to 0.6 baisas per kilogramme by mid-February 2024, the […] February 19, 2024
Food & Drink UAE diners eat local as global fast food faces boycott Homegrown restaurants in the UAE are reporting a lift in sales since the start of the Israel-Gaza conflict, as diners opt for local brands over international fast-food outlets. Steve Flawith, founder of UAE-based Yolk Brands that operates the Pickl and BonBird chains, said its sales have increased by 15 to 20 percent since the start […] February 19, 2024
Aviation Flydubai expands in Europe with four new routes Dubai low-cost airline Flydubai has launched four new services to expand its European network to 43 destinations in 21 countries. The carrier will be the first UAE airline to operate direct flights to EuroAirport Basel-Mulhouse-Freiburg, starting August 2. Flydubai is also marking its first entry into the Baltic region with direct flights to Riga International Airport […] February 16, 2024
Opinion Aviation EgyptAir must make some tough choices The national carrier is being battered by the competition and needs a recovery strategy February 15, 2024
Food & Drink Americana 2023 revenue rises on 300 new store openings Americana Restaurants, the Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut, said it will remain focused on growth and market penetration after opening a record 300 new stores last year. The new stores pushed revenue at Americana to $2.4 billion in 2023, a gain of 1.5 percent year on year. […] February 15, 2024
Tourism Wellness resort leads Egypt’s medical tourism push Plans for Egypt’s first wellness resort have been revealed as experts forecast an increase in the number of medical visitors to the country. Maxim Group has signed an agreement with the General Authority for Investment and Free Zones to establish Naya Wellness Resort in Al-Saf, Giza. About $48 million is being invested in the resort, part […] February 14, 2024
Leisure & Hospitality Cenomi Centers gets $1.4bn to support growth plans Cenomi Centers, Saudi Arabia’s largest shopping mall operator, has secured sustainability-linked financings worth SAR5.3 billion ($1.4 billion) from a consortium of regional banks. HSBC Saudi Arabia led the syndication, with participation from Saudi National Bank, Saudi Awwal Bank, Arab National Bank, Commercial Bank of Dubai, Mashreq Bank, and Qatar National Bank. The new facilities consist […] February 14, 2024
Video length: 04:37 Retail Look to lab-grown diamonds, says Bollywood’s Vivek Oberoi When you google the word “lab”, among the top three predictions in the search bar is likely to be “lab-grown diamonds”. Gen Z are driving the sales and demand of lab-grown diamonds, which are surging as the fastest growing segment within the jewellery sector. Being 40 to 50 percent cheaper than natural diamonds, the gems […] February 14, 2024
Trade Maharashtra plans food security corridor with UAE The central Indian state of Maharashtra is working to develop a food security corridor with the UAE. The government of Maharashtra, which has 11 million farmers, has linked up with US fund manager Pegasus Capital Advisors for the food trade project. Under their agreement, the Maharashtra authorities will share an operational plan within three months, […] February 14, 2024
Opinion Retail Gulf retailers are missing a digital trick Consumer behaviour on social platforms has rapidly evolved and companies need to keep up February 13, 2024
Giga-projects Neom announces exclusive beach club Xaynor Saudi Arabia’s mega-city Neom has launched its latest development – Xaynor, an exclusive private beach club on the Gulf of Aqaba for “the most fascinating people in the world”. Xaynor will be a “discreet destination where club members can unwind on the Gulf of Aqaba’s beautiful unspoiled coastline”, Neom said in an announcement. Neom has […] February 13, 2024
Tourism Moscow courts UAE to bump up inbound tourism Moscow aims to double the number of annual visitors from the UAE this year, to expand its international tourist base amid headwinds such as the war with Ukraine. Bulat Nurmukhanov, head of the International Cooperation Division at Moscow City Tourism Committee (MCTC), told AGBI that while the Russian capital’s domestic tourism has broadly recovered since […] February 13, 2024
Analysis Manufacturing Saudi Arabia joins the dots from minerals to manufacturing Consider for a moment how many different steps there are between digging a lump of iron ore out of the ground in Mauritania and pressing the starter button on a new electric vehicle (EV) in Riyadh. The ore must be mined, concentrated, combined with other elements, put through a furnace, a casting machine, cold- or […] February 13, 2024
Media & Advertising Tihama board member rebels as group’s losses exceed $37m A board member at troubled Saudi Arabian media group Tihama has rebelled over the company’s decision not to appeal against a court ruling that blocks its rescue plan. Sultan Abdul Latif Nuqli, a non-executive director, has filed a unilateral request to appeal against the Riyadh Commercial Court decision to reject Tihama’s restructuring proposal. The move […] February 12, 2024
Opinion Education Saudi Arabia needs a sea change in higher education Newer fields of study must be encouraged to meet employment market demands February 12, 2024
Giga-projects Red Sea Global secures $522m for Four Seasons Resort Saudi giga-project developer Red Sea Global (RSG) has secured SAR2 billion ($522 million) from Riyad Bank for its latest tourism project in the Red Sea development. The financing will be used to develop Four Seasons Resort, part of a joint venture between RSG and Kingdom Holding Company, which was incorporated in December 2023. The Four […] February 12, 2024
Leisure & Hospitality Tanmiah Food’s 2023 profit falls 59% on pricing pressure Saudi-listed Tanmiah Food Company’s net profit for 2023 fell 59 percent year on year to SAR75.9 million ($20.24 million) on lower subsidy payout, increasing pricing pressure, and continued expansion of fresh poultry and Popeyes stores. Revenues rose 21 percent to SAR2.09 billion last year, primarily due to increased sales volumes, enhanced geographical coverage and channel […] February 11, 2024
Opinion Leisure & Hospitality A pleasant stroll through The Village, Dubai-style If you were to stop at each restaurant, bar or hotel along the way, a week would not be enough February 9, 2024
Retail Free delivery is decisive for UAE and Saudi shoppers Among the myriad discounts and perks offered by the Gulf’s retail sector, one factor that stands as a vital consideration for UAE and Saudi shoppers is free delivery, a report has found. A survey by the buy-now-pay-later platform Tabby found that free shipping outweighs the allure of customer loyalty schemes. In all, 29 percent of […] February 9, 2024
Food & Drink Kuwait’s Alshaya in talks to sell Starbucks stake Kuwait’s Alshaya Group is in talks to sell a minority stake in its regional Starbucks business that covers the Middle East, North Africa and central Asia, according to reports. The Kuwaiti retailer operates 70 brands in 4,000 stores across 18 countries. This includes the franchise for Starbucks, with 2,000 stores in 17 countries. US private […] February 9, 2024
Exclusive Retail Asia’s largest beauty retailer plans GCC expansion Watsons, Asia’s largest health and beauty retailer, is to launch in two more GCC markets after recording sales growth of 53 percent in the region last year. The company has 18 stores in the UAE, Saudi Arabia and Qatar through a franchise deal with AI Futtaim Group. It is targeting expansion into Bahrain and Kuwait […] February 9, 2024
Business of Sport Emirates airline signs big US basketball sponsorship deal Emirates, the Dubai airline, has signed a sponsorship deal with the National Basketball Association in the United States that will see the NBA’s in-season tournament renamed the Emirates NBA Cup. Emirates will become the association’s official airline partner and referees’ kits will feature the airline’s logo. The airline’s patch will also be featured on the […] February 8, 2024
