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A session of the African Tourism Investment Summit (ATIS).

ATIS sounds call for standardized travel protocol for tourism to recover swiftly

CAPE TOWN — African governments must work together to define a standardized travel protocol if tourism is to recover swiftly and deliver the economic benefits that are so critical for the continent.That was the overarching message of the recent African Tourism Investment Summit (ATIS), hosted by International Tourism & Investment Conference (ITIC) and World Travel Market Africa (WTM Africa) at Africa Travel Week (ATW) which featured no fewer than 9 incredible ministerial and investment expert panel discussions and presentations.Sounding the call for collaboration, ITIC Chair and former Secretary-General of the UN World Tourism Organization (UNWTO) Dr. Taleb Rifai said it would take five years for 70% of the world’s population to be vaccinated and that it would be impractical to pin...

May 10, 2021

ATIS sounds call for standardized travel protocol for tourism to recover swiftly

Nearly 50% of pandemic costs will fall on advanced economies: WGS report

DUBAI — A seminal report launched by the World Government Summit Organization (WGS), which highlights 21 critical priorities within five focus areas offers a source of direction for governments as they tackle post-COVID-19 recovery.Wealthier economies will shoulder almost half the cost of the COVID-19 crisis, which could reach up to $3.8 trillion in 2021, the report finds. That, even if developed economies can vaccinate their entire populace and developing economies can reach a 50 percent vaccination rate.The report says mental health wellness, climate change and women’s empowerment are central concerns that will exacerbate if governments do not rebuild in a holistic, proactive manner.Mohammad Abdullah Al Gergawi, UAE minister of Cabinet affairs and chairman of the World Government...

May 10, 2021

Nearly 50% of pandemic costs will fall on advanced economies: WGS report

The Kingdom’s mining champion highlights key achievements since the Vision 2030 launch and plans that reflect its commitment to the Kingdom’s social and economic development.

Ma’aden’s achievements reflect commitment to Kingdom’s development

RIYADH — Saudi Arabian Mining Company (Ma’aden), one of the world’s fastest-growing global mining companies, celebrates the fifth anniversary of Saudi Arabia’s Vision 2030.The Kingdom’s mining champion highlights key achievements since the Vision 2030 launch and plans that reflect its commitment to the Kingdom’s social and economic development.The Kingdom has implemented significant incentive programs and announced major reforms in the last five years to accelerate the development of the mining industry as a strategic pillar of the Saudi economy, including the recently launched mining investment law to attract investors and pave the way for the full utilization of Saudi Arabia’s mineral resources, which are estimated to be worth more than $1.3 trillion.This goes in line with...

May 10, 2021

Ma’aden’s achievements reflect commitment to Kingdom’s development

Saudi Arabia Pavilion at Expo 2020 Dubai.

Participants confident and committed to a World Expo that will unify

JEDDAH — Countries participating in Expo 2020 Dubai are united in their commitment to hosting a World Expo that builds bridges, inspires action and delivers real-life solutions to global challenges — that is the message from delegates attending the sixth International Participations Meeting (IPM), which ended on Wednesday.Convening for the final IPM before the Oct. 1 opening of Expo 2020 — one of the first mega-events to take place since the onset of the COVID-19 pandemic — they expressed unwavering support and enthusiasm for the six-month global gathering, which they see as an essential launch pad towards building a better world for everyone.More than 370 delegates traveled from around the world to attend the IPM in person, held May 4-5 at Dubai Exhibition Centre (DEC), Expo 2020...

May 10, 2021

Participants confident and committed to a World Expo that will unify

Rosa Tahmaseb, secretary general at MENALAC.

MENALAC to experience highly-anticipated boost during Ramadan and Eid

DUBAI — The business of leisure in the MENA region is gaining steam during Ramadan. Staying resilient during the pandemic, MENA Leisure and Attractions (MENALAC) businesses are all set to welcome a larger number of visitors during Ramadan and the subsequent Eid holidays.The Leisure and Attractions industry is not only one of the greatest contributors to national GDPs in the region, it also brings immense joy to families looking to spend more quality time together during Ramadan and Eid. Making the holy month a truly memorable time for families, the region’s theme parks, family entertainment centres, water parks, and other attractions continue to bring stunning world-class experiences to visitors.Rosa Tahmaseb, secretary general at MENALAC said, “The MENA region is highly enthusiastic...

May 10, 2021

MENALAC to experience highly-anticipated boost during Ramadan and Eid

Ali Al-Mudaifa, executive director at the Bahrain Economic Development Board.

Causeway reopening set to boost Bahrain’s economy by $2.9 billion

MANAMA — Bahrain’s Chamber of Commerce and Industry revealed its members are anticipating a $2.9 billion surge in spending once the King Fahd Causeway reopens on May 17, based on tourist spending habits from 2019.This comes after Saudi Arabia announced it will lift its suspension on citizens traveling abroad, and open land, sea and air borders on May 17.Bahrain welcomed more than 12 million visitors in 2019, predominantly from the Kingdom of Saudi Arabia and neighboring GCC countries.Ali Al-Mudaifa, executive director at the Bahrain Economic Development Board said: “Deep economic, political and cultural connections between Bahrain and Saudi Arabia are the foundation of our relationship.“Although trade between our two nations has been sustained with great success during COVID-19,...

May 10, 2021

Causeway reopening set to boost Bahrain’s economy by $2.9 billion

LuLu launches big Eid deals

RIYADH — In anticipation of the Eid shopping rush among residents, leading retailer LuLu kicked off its exclusive offers on its stores and e-commerce platforms on website and mobile app. Shoppers can benefit from great discounts that are more than half price on a wide variety of products, from grocery to fresh food, mobile phones, fashion essentials, toys and much more.Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, said: “This is our biggest promotion yet this year. It’s such a timely campaign coinciding with Eid, as we have seen a rising demand on shopping for grocery essentials and gadget upgrades, especially during this festive season.“Shoppers can look forward to massive discounts on majority of our product categories. Apart from extending delivery hours, we also...

May 09, 2021

LuLu launches big Eid deals

Sadara Chemical Company (Sadara) announced its first quarter financial performance for 2021, stating that the company’s revenues reached more than SR4.4 billion — 30.5% higher compared to the previous quarter in 2020 and an increase of more than 80% compared to the same quarter last year.

Sadara announces more than SR1.6 billion net profit; super Q1 results

JUBAIL INDUSTRIAL CITY — Sadara Chemical Company (Sadara) announced its first quarter financial performance for 2021, stating that the company’s revenues reached more than SR4.4 billion — 30.5% higher compared to the previous quarter in 2020 and an increase of more than 80% compared to the same quarter last year.For the first time in its history, Sadara’s net profits after Zakat & Tax in this first quarter exceeded SR1.6 billion compared to net losses of more than SR1.27 billion and SR24 million in the same quarter of 2020 and last quarter, respectively.These positive results reflect the company’s ongoing commitment toward shareholders and manufacturing high-quality products for customers in the Kingdom and beyond.The improvement in net profit in the first quarter compared to the...

May 08, 2021

Sadara announces more than SR1.6 billion net profit; super Q1 results

Radisson aims to create memorable moments throughout Ramadan

JEDDAH — From rustling up meals to break the fast, to getting together through virtual Iftar gatherings, the world has marked a socially distanced holy month of Ramadan for the second year straight. However, looking at the positive side, compared to movement restrictions to congregational prayers and restaurant closures of 2020, Ramadan 2021 is remarkably better from the holy month last year.The governments’ efforts over the past months have made it possible to return to a certain new normality, allowing nationals and residents to enjoy and embrace this year’s Ramadan spirit, while maintaining a safe social distance.Whilst hotels across the Middle East would usually be opening their Iftar and Suhoor tents, where people would gather to break their fast with a lavish buffet or spend...

May 07, 2021

Radisson aims to create memorable moments throughout Ramadan

ADF chooses Oracle Cloud Applications to scale operations in Saudi Arabia

DUBAI — Oracle announced on Tuesday that the Saudi Agricultural Development Fund (ADF) will automate its core finance, procurement and HR functions with Oracle Fusion Cloud Applications Suite.The implementation will help ADF drive data integration across the organization, reduce operational costs, and develop a secure, scalable IT infrastructure to help support the fund’s rapid expansion and innovation of new services.ADF is the Saudi government’s principal credit institution specialized in financing agricultural activities in Saudi Arabia. The fund also works to develop the country’s agricultural sector through scientific and technological development initiatives.“At the Saudi Agricultural Development Fund (ADF) we are on a mission to enhance the country’s food security while...

May 06, 2021

ADF chooses Oracle Cloud Applications to scale operations in Saudi Arabia

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