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  • InterContinental opened 5 hotels in Saudi Arabia in 2023, 29 to follow: CEO

    The InterContinental Hotels Group (IHG) opened five new hotels in Saudi Arabia in 2023, with 3,155 rooms. It also signed 14 agreements, and will soon launch another 29 hotels with 10,314 rooms, Asharq Al-Awsat newspaper reported, citing CEO Elie Maalouf. Maalouf pointed out that the Saudi hospitality sector is growing and is expected to witness an increase in revenues to reach $2.93 billion during 2024, with an annual growth rate of 3.33%. He also expected the market size to reach $3.34 billion by 2028. With nearly 50% of the group's development projects in the region completed, the Saudi market represents the most prominent opportunity for IHG hotels and resorts. This is especially true in light of Saudi Vision 2030 as a major contributor to diversifying economic activity.

  • Saudi Arabia says incident with Rabbi Abraham Cooper was result of misunderstanding

    Saudi Arabia said on Tuesday that the denial of Rabbi Abraham Cooper into Diriyah Gate was the result of a misunderstanding, clarifying that Riyadh’s ambassador to Washington, Princess Reema bint Bandar, had spoken with the Rabbi about the incident. “The matter was resolved but we respect his decision to not continue the tour,” a statement from the Saudi Embassy in Washington said.

  • A two-state solution is the only way for Saudi Arabia to recognize Israel: Diplomat

    The top Saudi diplomat, Prince Faisal bin Farhan, has constantly stressed the importance of taking irreversible steps to implement the two-state solution and to recognize the state of Palestine based on the borders of June 4, 1967, with East Jerusalem as its capital. During his State of the Union address on Thursday night, US President Joe Biden repeated previous comments that the only way for Israel to guarantee its security was through a two-state solution. He added: “There is no other path that guarantees peace between Israel and all of its Arab neighbors, including Saudi Arabia.”

  • Saudi Arabia distributes dates in 93 countries

    As part of King Salman’s gift program, Saudi Ministry of Islamic Affairs officials have been coordinating the distribution of dates in 93 countries while organizing iftar banquets in 60 nations. In Bosnia and Herzegovina, Saudi envoy Osama Al-Ahmadi, Bosnian Grand Mufti Husein Kavazovic, and other officials, attended ministry launch programs for the delivery of 10 tonnes of dates to more than 30,000 people during Ramadan.

  • A new perspective on Saudi Arabia’s Vision 2030

    There is a certain amount of confusion among observers about Saudi economic strategy. We can gain clarity on this if we look at the many initiatives of Vision 2030 in the manner that a venture capitalist would look at his portfolio of investments. Doing so, we would see Crown Prince Muhammad bin Salman as placing bets on a large number of sectors, thereby hedging his risks since the economy only needs to win a few of these bets for actual diversification away from oil to take a meaningful step forward.

  • US extends lead on Saudi Arabia, Russia in oil production race

    Adapted from a new Energy Information Administration primer, the above graphic showing the U.S. producing more than any country in history is kind of an ink-blot test. Backers of the U.S. industry see an economic driver that provides global leverage as exports rise too. But climate groups are dismayed by growing fossil fuel development and say it cuts leverage in pushing other countries on energy transition. What's next: Don't expect anyone to catch up in the foreseeable future, EIA notes, because no other country has so much production capacity.

  • India Rises As An Emerging Markets Darling

    Net inflows into exchange-traded funds focused on Indian stocks shattered records in 2023, clocking in at $8.6 billion last year, according to Reuters. India’s NSE Nifty Index surged nearly 20% in 2023, handily outperforming the MSCIMSCI +0.3% emerging markets index’s 7% rise.

  • IRIS Hotels in Saudi Arabia expands its portfolio with Hotelogix-powered centralised control

    Hotelogix, a globally leading cloud-based hospitality technology provider, said Saudi Arabia's IRIS Hotels has been able to scale its business while expanding its portfolio on the back of a robust technology platform provided by its multi-property management system. Additionally, the group has been centrally managing operations across all 4 properties while complying with the Kingdom's National Tourism Monitoring Platform (NTMP) and The Zakat, Tax, and Custom Authority (ZATCA). IRIS Hotels is a well-known hotel group that offers a unique hospitality experience to its guests. With four boutique hotels operating in Riyadh, Taif, Jizan, etc., the group has gained immense popularity among leisure and business travellers. What sets them apart is their motto of providing "hospitality with heart and soul" - a philosophy that reflects in every aspect of their service. The group aims to grow further by adding 5-6 more properties.

  • Israeli forces kill two Palestinians in West Bank raid after deadly night

    Israeli forces killed two Palestinians during a raid in the occupied West Bank early on Wednesday, the official Palestinian news agency WAFA reported, bringing to five the number of Palestinians killed in different incidents within several hours. Yousef Nimer, a witness, said Israeli forces began firing at people he was sitting with outside a hospital in the city of Jenin as they were finishing Suhur, the final meal before sunrise during the Muslim fasting month of Ramadan.

  • Sudan’s army claims control of national broadcast building

    Sudan's army said it had taken control of the state broadcast headquarters from the Rapid Support Forces (RSF) on Tuesday in what would be its most significant advance against its paramilitary rival in nearly 11 months of war. The broadcast building lies in Omdurman, a city across the River Nile from Khartoum that forms part of Sudan's wider capital and has seen heavy fighting around military bases, bridges and supply routes.