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ROBUST PASSENGER GROWTH
Etihad flies high with 9-month revenue of $5bn; profit up 66pc
Abu Dhabi flag-carrier Etihad Airways has announced solid results for the first nine months of the year with a 21% jump in its revenue which soared to hit AED18.4 billion ($5 billion), while its net profit recorded a 66% growth compared to last year.
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20 HOTELS & RESORTS
Kleindienst reveals $6bn plan to build 5,000 hotel rooms in Dubai
Kleindienst Group, a leading global business conglomerate and the master developer of The Heart of Europe on Dubai’s World Islands, has announced a major expansion that will see the addition of 5,000 five-star hotel rooms to Dubai's hospitality sector.
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OFFERING OVERSUBSCRIBED
PIF sells 100 million stc shares for $1bn
Saudi Arabia's Public Investment Fund (PIF) today announced the completion of the sale of part of its stake in the Saudi Telecom Company (stc) through an accelerated bookbuild offering.
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TECHNOLOGY
5G Advanced to be the upgrade that 'will transform daily life'
The upcoming era of 5G Advanced has the power to do more than just improve personal device speeds; it aims to make networks smarter, more efficient and more responsive to real-world needs in ways that could impact everyone.
Top Trade News
 | Industry Sectors |
Kuwait to build over 3,000 residential units in three years
Kuwait has awarded two contracts to build more than 3,000 residential units as part of its Jahra City affordable housing project. In addition, it will implement other key infrastructure work for the project and complete it within a three-year period.
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Landmark to invest $1bn; open 400 new stores
Landmark Group, the leading value conglomerate in the retail and hospitality sectors, has unveiled plans to invest $1 billion to expand its presence across the Gulf, India and South-East Asia.
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Adnoc Gas to acquire 60pc stake in Ruwais LNG for $5bn
Adnoc Gas, a world-class integrated gas processing company, plans to acquire Adnoc’s 60% stake in the Ruwais Liquified Natural Gas (LNG) plant in the second half of 2028 at about $5 billion.
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NBB reports 11% increase in 9-month net profit
National Bank of Bahrain (NBB) has reported a 5% increase in net profit attributable to shareholders reaching BD19.1 million ($50.7 million) for the third quarter ended 30 September 2024, compared to BD18.2 million in the same period of 2023.
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Eco-conscious tourism: 'World witnessing fascinating paradox'
Pascal Armoudom, Partner at Kearney, said in an interview that the world is witnessing a fascinating paradox in 2024 with regard to eco-conscious tourism, citing a study that said 75% of travellers consider environmental impact when choosing destinations.
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Almarai signs up SIG as strategic partner for 5-year expansion plan
Almarai, the Middle East’s leading dairy and food company, has selected leading Swiss packaging systems group SIG as a strategic partner for its five-year expansion plan aimed at strengthening market leadership and driving sustainable innovation.
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Kleindienst to add 5,000 new five-star hotel rooms in Dubai
Kleindienst Group, a global business conglomerate and master developer of The Heart of Europe project on Dubai’s World Islands, has announced a major expansion that will see the addition of 5,000 five-star hotel rooms to the city's hospitality sector.
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Mobily in deal to lay Saudi's first underwater cable in Red Sea
Etihad Etisalat (Mobily) has signed a deal with Telecom Egypt to establish the first Saudi-owned submarine cable linking Egypt. The cable, wholly-owned by Mobily, will pass under Red Sea, paving the way for enhanced connectivity options towards Europe.
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Time Out Market Bahrain to open on December 2
Time Out Market Bahrain, a curated mix of Bahrain’s best culinary and cultural experiences, is set to officially open its doors on Monday, December 2.
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MG Motor announces Mideast launch of new MG5
British-born brand MG Motor has announced the official launch of its new MG5 in the Middle East, following its regional debut at Jeddah International Motor Show. The compact sedan boasts a combination of bold design, cutting-edge technology and comfort.
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ITA partners with Bahrain, UAE to advance 'green' industry
The Industrial Transition Accelerator (ITA) has announced partnerships with governments of the UAE and Bahrain to expand its efforts in industrial decarbonisation across the Middle East and North Africa (Mena) region.
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World-class aircraft display, deals mark Bahrain Airshow 2024
Bahrain International Airshow 2024 took off in style with world-class aircraft display by Royal Bahraini Air Force and flag-carrier Gulf Air, offering the sector a platform for high-level networking with 125 different types of aircraft being showcased.
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51pc of luxury retail employees plan to leave their jobs: study
A staggering 51% of luxury retail employees plan to leave their jobs amid a talent crisis gripping the industry, said a landmark report titled “The Advisor Effect: Driving Retail Success by Re-imagining the Role of the Client Advisor”.
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Joby begins work on first Dubai Vertiport
Joby Aviation, a company developing electric air taxis for commercial passenger service, has announced that construction has begun on the first vertiport in its planned Dubai air taxi network.
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