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Collier’s: Saudi Hotels Hit Hard by Coronavirus Impact, but Domestic Travel Initiatives will Drive Recovery by 4Q 2020
- August 17,2020
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- SUSTG Team
Like in most other countries around the world, Saudi Arabia’s travel and tourism sector has been hit hard by the Coronavirus as governments continue to introduce measures to slow its spread. A recent report by Collier’s International highlights the severity of the impact.
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New York-based Wahed Invest, an Online Halal Investment Platform, Secures Funding from Saudi Aramco
- June 8,2020
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- SUSTG Team
New York-based online Islamic investment platform Wahed Invest has secured backing from Saudi Aramco, the world’s biggest company, to expand into the Middle East and make Riyadh its hub for the region, according to Bloomberg.
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Kingdom’s Domestic Tourism, Entertainment Push Leads to Declines in Saudis Visiting Dubai
- January 24,2020
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- SUSTG Team
The number of Saudi tourists visiting Dubai in 2019 dropped as Saudi Arabia begins to see major gains in its domestic tourism market and local entertainment offerings.
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Tiger Woods Cites Busy Schedule in Declining to Play in Saudi Invitational, Defends Mickelson’s Decision to Play
- December 4,2019
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- SUSTG Team
Tiger Woods has declined to play in the upcoming Saudi Invitational golf tournament early next year, citing one of the busiest tour schedules for the Master’s champ in recent years, and defended the decision by Phil Mickelson and others to play. Woods said that he understood that the decision could be difficult for some athletes, […]
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In Saudi Arabia, Pompeo Seeks ‘Global Coalition’ On Iran; Dines at Nobu Popup with Crown Prince
- June 25,2019
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- SUSTG Team
Secretary of State Mike Pompeo visited Saudi Arabia on Monday in the first stop of a trip to the Gulf region to build a “global coalition” on Iran and express support for the security of Saudi Arabia. Pompeo held two separate meetings with King Salman and Crown Prince Mohammed bin Salman, photos show. Pompeo called the United States and […]
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PIF-backed Uber Technologies Buys Regional Rival Careem for $3.1 Billion
- March 26,2019
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- SUSTG Team
It’s the biggest tech deal the Middle East region has ever seen. Uber Technologies, Inc. is buying regional ride-sharing rival Careem for $3.1 billion, $1.7 billion in convertible notes and $1.4 billion in cash. Dubai-based Careem successfully rivaled Uber in Saudi Arabia and other parts of the Middle East region, amassing 30 million users across 90 […]
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Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
- March 8,2019
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- SUSTG Team
Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]
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Saudi Aramco Aims to Invest $150b to Become Gas Exporter – CEO
- November 27,2018
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- SUSTG Team
Saudi Aramco’s gas expansion strategy needs $150 billion (117.55 billion pounds) worth of investments over the next decade as the company plans to increase output and become an exporter, Reuters reports, citing CEO Amin Nasser’s comments at an industry event in Dubai. Aramco is pushing ahead with its conventional and unconventional gas exploration and production program […]
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Third Cinema Operating License Awarded in Saudi Arabia as Entertainment Sector Heats Up
- July 30,2018
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- SUSTG Team
Saudi Arabia’s Minister of Information and Chairman of the General Authority for Audiovisual Media Dr. Awwad Al-Awad awarded the third cinema operation license to the Al-Rashed United Group — Empire Cinema as the Kingdom’s entertainment sector heats up. US giant AMC and Dubai-based Vox Cinemas received the first two licenses and have already opened theaters in April […]
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Will Uber and Careem Merge?
- July 5,2018
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- SUSTG Team
San Francisco-based Uber Technologies Inc. and Dubai-based Careem Networks FZ are in preliminary talks to combine their Middle Eastern ride-hailing services, according to reports, in a merger that would create one dominant presence in the market and avoid a potentially costly rivalry. Bloomberg reports that the two companies have discussed a potential merger but the companies have only discussed […]
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MUST-READS
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Dubai Car License Plate Sells for Record $15 Million: Here’s Why They’re Popular
Emirates Auction LLC sold plate number P 7 — which, at first glance, looks like the number 7 alone, with the P off to the side — on Saturday during a charity auction, according to the company. Proceeds will go to Dubai ruler Sheikh Mohammed bin Rashid’s global food aid initiative, the 1 Billion Meals Endowment.
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Riyadh Vs. Dubai
There is a big question mark over whether Saudi Arabia is ready, whether that’s in terms of infrastructure, housing, lifestyle or even the basics of processing foreign residency papers. By opening up the kingdom to international markets, Riyadh is directly competing with neighbor Dubai, the Middle East’s main business and tourism hub, which has long been the default option for expatriates. From a cultural perspective, Dubai remains an obvious choice despite having become increasingly more expensive since the pandemic. It still offers a freer and more cosmopolitan option for foreigners.
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Dubai’s property market made over $9.3bn in March 2023 alone
Recent data found by Property Founder has revealed Dubai’s flourishing property market. According to Property Finder’s data, March 2023 real estate transactions recorded around 45% YoY increase in volume by crossing 12,000 sales transactions compared to 8,344 in March 2022.
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Pilot nails daring landing on Dubai’s Burj Al-Arab
Air Racing champion Luke Czepiela became the first person to land a winged aircraft on Dubai's iconic Burj Al-Arab helipad. Aviation engineer Mike Patey helped guide Czepiela onto the helipad.
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Dubai Bling: Netflix launches investigation into salary leak scandal
Netflix has launched an investigation after the salaries of the Dubai Bling cast members were published last week by Arabian Business. Sources say the company, which is currently filming season 2 of the reality TV show, is “determined to find the mole” who leaked the information.
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Dubai investment company acquires Virgin Mobile Middle East and Africa
Beyond One, a subsidiary of private investment company Priora Management Holding in Dubai, has acquired Virgin Mobile Middle East and Africa (VMMEA). Dubai-based VMMEA is one of the largest mobile virtual network operators in the region, with active operations under its Virgin Mobile and Friendi Mobile brands in Saudi Arabia, the UAE, Oman and Kuwait.
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Booming Dubai: Beyoncé and a $100k-a-night suite at Atlantis The Royal
Beyoncé was performing her first live concert in more than four years at a private event for the opening of Atlantis The Royal, a $1.4 billion luxury hotel and residential project eight years in the making, located on the outer ring of Dubai's Palm Jumeirah, a man-made beach archipelago in the Arabian Sea. The megastar was paid a reported $24 million for the night.
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What is Dubai Pearl? The dormant mega-project has been demolished
If you work around Dubai Media City, chances are you felt the tremors of Dubai Pearl’s destruction early this afternoon (January 23). The troublesome mega-project was once a magnet for investors and the greatest names in hospitality. After failing to get off the ground, the site has been flattened, reportedly taken back by authorities with a new price tag for any investor willing to take it on.
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Dubai world’s second best city for expats
Dubai is the second best city in the world for expats, according to a global report by InterNations. In its Expat City Ranking 2022, InterNations named Valencia, Dubai, and Mexico City as best for expats, saying all do very well when it comes to the ease of settling in.
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Why Dubai’s F&B sector will be the blueprint for others in the region
Be ready for even more creative types of F&B experiential dining experiences. The pandemic unleashed our most creative minds, and the hunger to thrive and explore life experiences is being most manifested in F&B. Food has always brought people together. In 2023 it is going to be even more so as people ride in this lucrative sector. Expect more inbound investments as well as expect other emerging markets to try and replicate the Dubai F&B DNA in their major cities. Chefs may be the superstars right now, but it takes an army to run a good restaurant. I am hoping to see more focus on FOH, service and personality coming through rather than just chef-led stories.
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