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$110bn HOSPITALITY EXPANSION
KSA set to deliver 362,000 new hotels rooms by 2030
Saudi Arabia is poised to develop 362,000 new hotel rooms by 2030 as part of its $110 billion hospitality sector transformation, according to data released ahead of the 2025 edition of the Future Hospitality Summit (FHS) Saudi Arabia.
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DUBAI FUTURE FOUNDATION REPORT
10 megatrends shaping future; 50 key new opportunities
Dubai Future Foundation (DFF) has launched the fourth edition of the 'Future Opportunities: The Global 50' report that outlines 50 key opportunities across five critical areas and 10 megatrends shaping the future.
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3600 MW CAPACITY
Doosan consortium seals $1.5bn Saudi power plants contract
Korea's Doosan Enerability said its consortium with top electric power engineering company Sepco3 has secured a major EPC contract worth 2.2 trillion won ($1.52 billion) for two combined cycle power plants in Saudi Arabia with a total capacity of 3600MW.
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FOCUS
Businesses 'keen to use digital tech for sustainable development'
Over three-quarters of businesses (76%) across Asia, Europe, and the Middle East are focused on the potential of digital technologies, including AI and cloud computing, in driving sustainable development, according to a new study."
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INSIGHT
Unlocking global success: Six key steps for startups
The tech landscape in the region continues to evolve rapidly, presenting both opportunities and challenges for startups. Building a business that not only survives but thrives on a global scale needs more than just an innovative idea, says an expert.
Top Trade News
 | Industry Sectors |
Meraas unveils final phase of villas at The Acres
Meraas, a member of Dubai Holding Real Estate (DHRE), has announced the launch of the final phase of The Acres, its exclusive standalone villa community located in Dubailand.
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PIF launches first Saudi-owned duty-free retailer
Saudi Arabia's sovereign wealth fund PIF has announced the establishment of Al Waha Duty-Free Company, a premium travel retailer. The first Saudi-owned duty-free operator, Al Waha will develop luxury retail outlets in select locations across the country.
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Siemens Energy lands $1.6bn Saudi power plants deal
Siemens Energy, a leader in energy technology, has been awarded a $1.6-billion project to provide key technologies for two gas-fired power plants in Saudi Arabia. On completion, the Rumah 2 and Nairyah 2 plants will add 3.6GW power to the national grid.
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Bank ABC approves $85m dividends for FY 2024
Bahrain-based Bank ABC (Arab Banking Corporation) said its board has won approval from its shareholders for distribution of $85.1 million as dividends for FY 2024. Bank ABC had reported a net profit of $285 million, up 21% over the previous year.
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AI key for manufacturers, but data gaps hinder potential: study
While an overwhelming majority of manufacturing leaders agree AI automation is important to improve efficiency and deliver an improved digital experience, manufacturers need to overcome data gaps to leverage AI to its full potential, a study says.
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DP World posts record revenue of $20bn
DP World, a global logisitics and shipping leader, reported a revenue growth of 9.7% to $20 billion in 2024 and adjusted EBITDA of $5.5 billion, an increase of 6.7% with an adjusted EBITDA margin of 27.2%.
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ADFD starts work on 320-key luxury hospitality project in Egypt
Abu Dhabi Fund for Development (ADFD) has laid the foundation stone for its AED440 million ($120 million) hospitality project - Sofitel Legend Pyramids Giza - in Egypt. A five-star hotel, it will feature 302 rooms along with all premium amenities.
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Ericsson, Qualcomm and Thales create history with 5G NTN call
Ericsson said it has achieved an industry milestone in collaboration with Qualcomm Tech and Thales Alenia Space with the trio successfully demonstrating a 5G non-terrestrial network call, bringing the world a step closer to seamless global connectivity.
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Meraas awards $544m contract for Dubai Design District project
Meraas, a unit of Dubai Holding Real Estate, has awarded a AED2 billion ($544 million) contract to Arabian Construction Co for its prime project - Design Quarter at d3 - which includes the first residential community within the Dubai Design District.
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BMW iX3 launch to kick off release of 40 new models
The BMW Group is entering the financial year 2025 with a clear commitment to growth. At the end of this year, the first production model of the NEUE KLASSE, the new BMW iX3, will kick off an unprecedented ramp-up of new models.
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Aster launches advanced cancer care centre in Muscat
Aster Royal Al Raffah Hospital, Muscat, Oman, part of GCC’s leading integrated healthcare provider Aster DM Healthcare, has launched Aster Al Raffah International Comprehensive Cancer Care Center, a key milestone in advancing cancer care services in Oman.
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First 'Made in Bahrain' satellite Al Munther launched
In a landmark moment for the Kingdom of Bahrain, the National Space Science Agency (NSSA) said it has successfully launched "Al Munther", the nation’s first domestically designed and built satellite onboard a SpaceX Falcon 9 rocket at a US base.
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Koda unveils design for GCC's first Harrow school
UAE-based architectural design practice Koda has unraveled the designs of its latest landmark project - Harrow International School Abu Dhabi. Set for mid-2026 opening, the K-12 school will be built on a prime 70,000 sqm plot on the Saadiyat Island.
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Forbes unveils Mideast Top 40 influential money movers list
Forbes Middle East has unveiled its Top 40 Asset Managers list, spotlighting the region’s most influential leaders shaping the investment landscape. Collectively, they managed over $439 billion in assets in 2024 spanning equities, debt funds and REITs.
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