Opinion Business of Sport Neymar’s Saudi Arabia stint is an economic lesson for its football goals Beset by injuries, Neymar only played seven games for his Saudi employers January 30, 2025
Economy Kuwait consumer spending reaches record high Consumer spending in Kuwait hit record levels in 2024, underpinned by a growing preference for card payments and a thriving ecommerce industry. Figures from the Central Bank of Kuwait for 2024 showed spending reached KD47.81 billion ($155.7 billion), a rise of 4.4 percent from the previous year. The figures show an increase in card payments and […] January 30, 2025
Tourism Growing number of Chinese celebrating new year in UAE The UAE has recorded an increase in the number of Chinese travellers making the journey for new year celebrations this year. Arrivals from China to the UAE have grown 9 percent year on year, a study by the travel insight specialist ForwardKeys has found. While exact details of the dates surveyed or total number of […] January 30, 2025
Leisure & Hospitality Alpha Dhabi takes majority stake in ADX-listed hotel operator Alpha Dhabi Holding, which is listed on the Abu Dhabi Securities Exchange (ADX), has acquired a controlling 73.73 percent stake in the National Corporation for Tourism and Hotels (NCTH) via a swap deal. The stake was acquired after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy to Abu Dhabi-listed NCTH in exchange for […] January 30, 2025
Analysis Food & Drink Middle Eastern coffee market expected to hit $11bn The price of your half-caff, soya milk, extra hot with a pump of vanilla and a sprinkle of cinnamon is likely to go up this year, as the cost of coffee is set to increase by as much as one fifth. The Middle Eastern coffee market alone is projected to reach $11.5 billion in 2025, […] January 26, 2025
Business of Sport Saudi Arabia in talks to host MMA facility at Qiddiya Saudi Arabia has been identified as a potential host for a multi-use mixed martial arts facility akin to the Ford Center at The Star in the US, the head of MMA organisation the Professional Fighters League (PFL) has said. The Star is a partnership between the city of Frisco in Texas and the Dallas Cowboys […] January 25, 2025
Food & Drink Americana acquires Pizza Hut business in Oman Americana Restaurants, the largest food service business in the Mena region, has acquired the Pizza Hut brand in Oman from the Khimji Ramdas Group. The restaurant operator said the acquisition includes 46 Pizza Hut restaurants which had an annual revenue of approximately $11 million in 2024. The additional outlets increase its Pizza Hut restaurants across […] January 24, 2025
Business of Sport NBA’s LeBron James joins PIF-backed electric raceboat series Lebron James, the NBA basketball star, has signed up as team owner in the UIM E1 World Championship, the all-electric raceboat series. James was named as owner of Team AlUla, named after the ancient oasis city in Saudi Arabia, ahead of the start of the 2025 season on Saturday in Jeddah. The championship, now in […] January 24, 2025
Retail Abu Dhabi’s Royal Group buys eco brand Pangaia Abu Dhabi’s Royal Group has acquired a controlling stake in fashion brand Pangaia. No financial details of the transaction were revealed. Pangaia, which has its headquarters in London, designs eco-friendly clothing made from organic and recycled materials, sold primarily through its website. It uses next-generation materials for its clothing and accessories, including Mirum, a plant-based, plastic-free leather […] January 24, 2025
Aviation Riyadh Air delays launch after Boeing setbacks Riyadh Air has been forced to push back its launch date to the third quarter of 2025 after delays to deliveries from Boeing. The new Saudi airline had been scheduled to begin flying early this year. It is a blow to Saudi Arabia’s tourism ambitions to attract 150 million visits a year. Riyadh Air was founded […] January 17, 2025
Real Estate Eagle Hills plans Trump hotel project with Kushner The Abu Dhabi-based developer Eagle Hills and Affinity Partners, an investment firm founded by Donald Trump’s son-in-law, Jared Kushner, have agreed to build a luxury hotel and apartment complex in Serbia’s capital, Belgrade. The project, on the site of the former Yugoslav defence ministry, will feature a 175-room Trump hotel as its centrepiece, and 1,500 […] January 17, 2025
Opinion Real Estate On the 19th hole with Trump and Damac What better place than Trump International Golf Course to watch the inauguration January 17, 2025
Analysis Sustainability Climate and cost: the Gulf’s water scarcity challenge Over the past 18 months, Saudi Arabia has set up a Global Water Organisation, established a stand-alone Saudi Water Authority and presided over the One Water Summit in Riyadh. At the summit on December 5, Crown Prince Mohammed bin Salman called for “collective action” to address water scarcity in the region and around the world. […] January 17, 2025
Finance Bahrain’s Investcorp agrees to buy Italy’s Epipoli Bahrain’s Investcorp has finalised a deal to acquire Epipoli, an Italian alternative payments company. The asset will be purchased from London-headquartered private equity Bregal Milestone and Epipoli founder and CEO Gaetano Giannetto. Giannetto will continue to hold a significant minority stake and lead the company. No terms of the transaction were disclosed. Epipoli owns the […] January 17, 2025
Opinion Tourism Oman hopes tourism can foster entrepreneurship and create jobs The sultanate has only recently begun to use its history as an economic attraction January 16, 2025
Business of Sport PIF close to $1bn stake deal in sports network Dazn Saudi Arabia’s Public Investment Fund is close to agreeing a deal to acquire a 10 percent stake in the UK-based global sports network Dazn. The deal, which has been under discussion for more than a year, is said to be worth at least $1 billion, which would value the broadcaster at $10 billion, the New […] January 15, 2025
Retail Nice One share price up 55% in first week of trading Nice One Beauty Digital Marketing Co’s shares jumped 9.81 percent on Tuesday, beginning the day at SAR49.75 ($13.25) and reaching SAR 54.30 by its close. Eight days after the Saudi cosmetics retailer launched an initial public offering (IPO) for 30 percent of its capital (36.5 million shares) on January 7, its shares have increased in […] January 15, 2025
Tourism Ras Al Khaimah tourism revenue up 12% in 2024 Ras Al Khaimah’s record 1.28 million overnight arrivals in 2024 helped them to a 12 percent increase in tourism revenues from the year before. The growth was driven by the opening of new hotels and resorts, a growing calendar of international events, increased connectivity to Ras Al Khaimah International Airport, marketing campaigns, and more than […] January 15, 2025
Retail UAE shoppers ready to spend, but retail outlook remains tough The spending of UAE consumers is expected to increase this year, but retail analysts have warned this is unlikely to be a silver bullet that halts shrinking margins. A survey of more than 15,000 shoppers in nine countries, published by consultancy AlixPartners, has found the percentage of UAE consumers intending to spend more is 13 […] January 15, 2025
Retail Sales rise 18% for airport retailer Qatar Duty Free Airport retailer Qatar Duty Free has reported an 18 percent sales increase for 2024. The rise was higher than passenger growth at Hamad International Airport in Doha, which increased 15 percent to 52.7 million. Qatar Duty Free, a subsidiary of Qatar Airways that owns and operates the airport’s shopping and food outlets, did not release […] January 14, 2025
Business of Sport Qatar Airways signs $97m deal to sponsor new rugby tournament Qatar Airways has agreed a $97 million deal to sponsor the new World Rugby Nations Championship. The eight-year deal will cover the qualifying matches and finals for the first four editions of the rugby union tournament from 2026 to 2034. The agreement is the biggest title sponsorship in international rugby, according to The Guardian. The […] January 13, 2025
Opinion Tourism Immersive storytelling, posh cuisine and branded flats: 2025’s hospitality trends Adaptability and innovation will be vital to maintaining the sector’s global appeal January 10, 2025
