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Dubai Tourism Emerging market fund managers ‘allocate more time and money to bigger markets like India and China’ than Dubai or Saudi Arabia, says one expert $60bn invested since 2020 But ownership share remains low ‘Oil link’ reputation deters some International investors have pumped more than $60 billion into Gulf stocks over the past five years but their share of ownership is still relatively low, putting into question the success of GCC states’ economic diversification policies. Governments in the world’s largest oil-producing region have long sought to increase foreign direct investment into their economies and trading in their listed companies. …

AlUla, the historic desert town in Saudi Arabia’s northwest, has teamed up with Riyadh Air, the kingdom’s ambitious new airline aiming to reach 100+ destinations by 2030 in a strategic alliance.   During this year’s Arabian Travel Market in Dubai, a Memorandum of Understanding (MoU) was signed, creating a collaboration between the two parties. Their goal is to boost AlUla’s visibility and attract travelers from Saudi Arabia and worldwide, with a focus on increasing tourism to AlUla from major global markets. Rami AlMoallim, Vice President of Destination Management and Marketing at The Royal Commission for AlUla (RCU) said: “Today marks…

Saudi Arabia’s Ministry of Investment (MISA) and Ant International have inked a Memorandum of Understanding (MoU) to ease business growth in the Kingdom.   During a signing event in Riyadh, Douglas Feagin, President of Ant International, and Eng Saleh Khabti, Deputy Minister of Investment of Saudi Arabia, met to discuss their new partnership. They signed an agreement focusing on technology innovation and boosting economic growth in Saudi Arabia.   MISA, with the help of this partnership, is backing Ant International’s expansion into Saudi Arabia, helping them navigate licensing and certification for improved services and growth.   Ant International sees Saudi…

500 Global, a multi-stage venture capital firm, and Sanabil, a financial investment company owned by the Public Investment Fund (PIF) in Saudi Arabia, have revealed the seventh round of their Sanabil 500 MENA Seed Accelerator Program. This program is designed to support emerging companies in growing across the Middle East and North Africa.   The chosen companies are working on solutions in various fields like finance technology (Fintech), food technology (Foodtech), software as a service (SaaS), machine learning & software (ML), online commerce (E-Commerce), agricultural technology (AgTech), advertising technology (AdTech), and property technology (Proptech). These twelve companies were picked from…

Emerald Maldives Resort & Spa, known as a gem in the Maldives and recipient of the prestigious ‘Unrivaled Luxury Leader’ award from The Leading Hotels of the World, has achieved two gold medals in the Tripadvisor Traveller’s Choice Awards 2024, in the categories of ‘All-Inclusive Resorts’ and ‘Wellness Resorts’.   The Best of the Best awards from the Travellers’ Choice Awards honor excellence in hospitality showcased within the industry. They are given to places that gather many great reviews and top ratings from Tripadvisor users throughout the year and out of 8 million profiles on Tripadvisor, less than 1 percent…

H.E. the President of King Abdulaziz City for Science and Technology (KACST), Chairman of Almarai Prize for Scientific Creativity, Dr. Munir M. Eldesouki, and H.H. Prince Naif bin Sultan bin Muhammad bin Saud Al-Kabeer, Chairman of the Board for Almarai Company and Vice Chairman of the Board for the Prize, launched Almarai Prize for Scientific Creativity strategy and its new identity.   Almarai and KACST teamed up to create a plan to improve food innovation in dry areas, focusing on solving water scarcity and global food security issues.   The plan includes renaming the local award to “Almarai Prize for…

In its plan to grow, Almarai sealed five deals with top global poultry firms, totaling 500 million Saudi riyals. This move aims to boost poultry output, elevating its market share from 250 million birds yearly to 450 million  birds by 2027.   This announcement came at the start of the third Middle East Poultry Exhibition, launched by His Excellency the Minister of Environment, Water, and Agriculture, Eng. Abdulrahman bin Abdulmohsen Al-Fadhli. The event took place from May 13 to 15, 2024, at the Riyadh International Convention and Exhibition Center, under the theme “Value Engineering.” Over 300 companies from 40 countries…

Purificacion Garcia, the renowned fashion brand known for its geometric designs, is excited to launch the second edition of its Thinkers Portrait Campaign. Starting on April 28th, this campaign celebrates creativity and individuality by showcasing talents from Saudi Arabia and Qatar.   This year’s campaign features a carefully chosen group of thirteen remarkable talents from various creative fields in both countries. These include artists, designers, florists, wellness experts, athletes, baristas, TV hosts, and podcasters. Purificacion Garcia team stated, “We want to bridge cultures and celebrate the rich creative tapestry that thrives within our community through our Thinkers Portrait Campaign which…

Recently, a sponsorship agreement was signed between the healthy meal app Calo, owned by Calo Food Technology, and the young female rally driver Orjwan Ammar. The aim is to create a success story for a champion set to excel in this exciting, challenging, and determined sport.   The agreement was signed at the Calo app headquarters in Jeddah by Calo’s Marketing Specialist Ghaidaa Sherbini and the rally driver Orjwan Ammar, The sponsorship commenced during Orjwan’s participation in the Tabuk Rally Challenge last April. Ghaidaa Sherbini, explained that the concept of this collaboration goes beyond mere sponsorship, and more into the…

Nahdi Medical Company and the “Association for Honoring Travelers” signed an agreement to donate wheelchairs to Guests of Rahman in Makkah and Madinah. This initiative is part of Nahdi’s commitment to social responsibility and medical services, collaborating with non-profits like the Pilgrim Experience Program.   This partnership showcases how public, private, and non-profit sectors work together to improve health services and quality of health for pilgrims.   Eng. Yasser Joharji, CEO of Nahdi Medical Company, commented: “We are pleased with our partnership with the Association for Honoring Travelers, through which we will provide high-quality services to pilgrims and Umrah performers.…