Holidayme among top startups in Arab world: Forbes

Mansour bin Madi, co-founder of Holidayme, Saudi Arabia
Updated 21 October 2017
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Holidayme among top startups in Arab world: Forbes

Holidayme, an online travel portal established in 2014, is on a winning streak, with two significant recognitions earned in a span of one week.
The startup has been named third among the top startups in the Arab world by Forbes Middle East.
It ranked fifth in the UAE last year and this year’s rank is being celebrated as a huge achievement by Holidayme, a brand that started just two years ago in the region.
Its second success came when Holidayme received the “Online Business of the Year Award” at the recently concluded Gulf Capital’s SME Awards.
“This is a proud achievement for us at Holidayme, to be recognized and honored among our peers from the travel fraternity,” said Mansour bin Madi, co-founder of Holidayme, Saudi Arabia.
He added: “Our team’s sole aim is to focus on achieving our goal and strengthening our position in the travel industry. Leaving not only our competitors but all the businesses that operate using an online space behind, this is a reflection of our exceptional business model and establishes us as a strong business in the travel industry.”
Holidayme offers integrated travel services ranging from holidays, hotels, customised itineraries and flights to customers across the Middle East. In a span of less than two years, it claims to have grown to be a trusted brand across the region.


STC net income for Q1 2018 increases by 2.1%

Updated 41 min 56 sec ago
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STC net income for Q1 2018 increases by 2.1%

The Saudi Telecom Company (STC) has announced its preliminary financial results for the period ending March 31.

The revenue from services for the first quarter reached SR12.4 million — a decrease of 1.1 percent compared with the corresponding quarter last year. The gross profit for 1Q reached SR6.997 million — an increase of 1.05 percent.

The earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the first quarter reached SR4,644 million — an increase of 2.1 percent compared with the corresponding quarter last year. Nasser S. Alnasser, acting CEO of STC, said the increase in net income by 2.1 percent for 1Q of 2018 was a result of the “continued comprehensive program to improve operational efficiency and cost-optimization initiatives.”