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Tuesday February 19, 2019
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February 19, 2019
Jeddah’s hospitality sector continues expansion drive
Hotel occupancy up 3% year on year in Riyadh n Jeddah hospitality RevPAR and average daily rates up 8% and 10% respectively year-on-yearRIYADH/JEDDAH — Despite large office supply deliveries expected in the city, Riyadh is continuing to witness demand for office space that caters specifically to SMEs and start-ups according to new data released by global real estate consultancy firm CBRE. Total office stock in Saudi Arabia’s capital stood ...
February 19, 2019
Gulfood Innovation Awards names 12 product recognitions
DUBAI —The Gulfood Innovation Awards, the annual F&B industry accolades running alongside Gulfood, the world’s largest annual food and beverage trade event at Dubai World Trade Centre (DWTC) – has marked its biggest showing to date by honoring 12 breakthrough product and new-to-market concepts with winners hailing from 11 nations across five continents.The 2019 awards, which attracted more than 300 entries in 12 categories, including two new honours – The ...
February 19, 2019
DI identifies global food trends up to 2030
DUBAI — Dubai Industrial Park (DI), one of the largest industrial hubs in Dubai and a member of TECOM Group, has launched a report titled ‘Global Food Trends to 2030: With a Closer Look at the GCC’ in collaboration with The Economist Intelligence Unit. The report, which DI commissioned in an effort to expand the body of knowledge around the food manufacturing industry in the region, was launched at a ...
February 18, 2019
Data is today’s currency as cyberattacks spread
RIYADH — According to statistics from the Kaspersky Security Network in 2018, Saudi Arabia saw a substantial increase in cyberattacks with malware attacks increasing by 4% and ransomware attacks increasing by over 378%. In addition, Kaspersky Lab registered an 11% increase in malware infections, reaching an average of 1.5 million attacks per day and 575 million in one year across the Middle East, Turkey & Africa (META) region.Speaking to Saudi ...
February 18, 2019
Mad’a invests in Family Souk Ventures and Babysouk.com
RIYADH — Mad’a Investment Company, a private equity & venture capital firm headquartered in Riyadh, Saudi Arabia, a wholly- owned subsidiary of Abdul Aziz Al Othaim & Sons Holding Company (ASO&SONS), has announced a new investment in Dubai-based Family Souk Ventures, Ltd. and its online retail subsidiary Babysouk.com.Family Souk Ventures is a B2B distribution company representing a select group of best-in-class brands in the parenting industry, while also operating Babysouk.com, ...
February 18, 2019
Mobily logs positive net profit in Q4 2018
RIYADH — Etihad Etisalat (Mobily) achieved net profit for the fourth 2018 reached SR80 million compared with losses at SR182 million in Q4 2017. Mobily succeeded in reducing its net losses by 82.7% for the year ended in 31st December 2018, where the net losses for the year 2018 amounted to SR123 million versus net losses of SR709 million for the year 2017. This improvement is due to Mobily continued ...
February 18, 2019
Badir-incubated tech startups raise SR110mn in 2018
RIYADH — Technology startups incubated by the Badir Program for Technology Incubators and Accelerators, one of the leading initiatives of King Abdulaziz City for Science and Technology (KACST), closed 2018 on a record high note, raising nearly SR110 million ($29.32 million) across 63 funding deals.Individual investors topped the list of funding deals, followed by private companies, venture capital firms and governmental institutions.Individual investors, who were the most active in terms ...
February 18, 2019
AKH Tower is changing Dammam’s skyline
DAMMAM — Serving as the new headquarters for the prominent Al Abdul Karim Holding (AKH) company in Dammam, the AKH Tower is now open for business. Designed and supervised by Dewan Architects + Engineers, the dramatic 37-storey building ranks as the tallest building in Dammam and the 30th tallest in the Kingdom of Saudi Arabia.Setting out to impress, the striking design of the AKH Tower – with its gleaming glass, ...
February 18, 2019
flydubai to increase flights to Saudi Arabia
DUBAI-based airline flydubai has announced Monday that it will boost its services to the Kingdom of Saudi Arabia with 12 new flights per week. An additional daily flight to Riyadh Airport (RUH) and five flights a week to Hofuf Airport (HOF) will start from 16 March 2019.Commenting on the increase of flights to Saudi Arabia Hamad Obaidalla, Chief Commercial Officer at flydubai, said: «Saudi Arabia remains an important market for ...
February 18, 2019
Philips, MOH set to deliver first Saudi Arabia virtual cardiology network
ROYAL Philips, a global leader in health technology, has announced it has teamed with the Ministry of Health (MOH) in Saudi Arabia to provide a first of its kind integrated Cardiovascular Information System (CVIS) across multiple facilities throughout the Kingdom of Saudi Arabia. Patient medical information will be available on demand at the point of care in each one of the connected hospitals to help improve quality access to cardiology ...
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