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Shares of Hospitality giant Alhokair rise as it gets CMA’s approval for 46% capital cut

  • RIYADH: Shares of Abdulmohsen Alhokair Group for Tourism and Development, one of Saudi Arabia’s largest hospitality firms, increased after announcing that it was granted approval by the Capital Market Authority for a capital reduction of 46 percent. At the opening bell of Monday’s tradin...

Jameel Fund supports critical research projects

  • Community Jameel and Community Jameel Saudi Arabia have announced the second wave of funding from the Jameel Fund for Infectious Disease Research and Innovation for projects tackling the threat of respiratory diseases. Pioneering research projects at Imperial College London and King Abdulaziz...

Enhance your style with the new Xiaomi 12 Lite

  • Xiaomi has launched its “most” stylish and cutting-edge device in Saudi Arabia. Catering to the Kingdom’s community of fashion-forward and tech-savvy consumers, the new Xiaomi 12 Lite pushes the envelope of design and computational imaging. Equipped with an expansive suite of modern, versatile ...

Hospitality group Alhokair’s shares slip as it trims H1 losses by 49%

  • RIYADH: Abdulmohsen Alhokair Group for Tourism and Development narrowed down its losses by 49 percent in the first half of 2022 but saw its share price drop on Sunday. The Saudi hospitality giant managed to bring down its losses to SR66 million ($18 million), from SR130 million in the same pe...

Dubai sees air travel surge, expects World Cup boost

  • DUBAI: Dubai International Airport saw a surge in passengers over the first half of 2022 as pandemic restrictions eased and the upcoming FIFA World Cup in Qatar will further boost traffic to the city-state’s second airfield, its chief executive said Wednesday. Paul Griffiths, who oversee...

‘Send my bags to the resort please’: Welcome to TRSDC’s new airport

  • Flight testing held on July 20-21 at the Red Sea International Airport, which is under construction at The Red Sea Project, marks the beginning of a new era of tourism and travel in the Kingdom. With over five hours’ drive from the nearest existing major international airports of Jeddah ...

China In-Focus — Stocks rebound; Asian giant certifies new civil helicopter; Brazil may export corn to China

  • RIYADH: China stocks rebounded on Tuesday as real estate developers continued to rise on news that Beijing was planning to set up a fund to aid the troubled industry. The CSI300 index rose 0.9 percent to 4,250.82 at the end of the morning session, while the Shanghai Composite Index gained 0.8...

TRSDC inks deal with ZeroAvia to develop zero-emission flights

  • RIYADH: The Red Sea Development Co. has signed a memorandum of understanding with ZeroAvia, a British-American hydrogen-electric aviation firm, to test and develop zero-emission travel across its new luxury tourism destination with a focus on environmental sustainability and regeneration. Sig...

Pfizer to provide medicines to 1.2bn people in 45 countries on not-for-profit basis

  • RIYADH: Leading pharmaceutical company Pfizer has launched ‘An Accord for a Healthier World,’ a ground-breaking initiative aimed to provide patented, high-quality medicines and vaccines on a not-for-profit basis to 1.2 billion people in 45 lower-income countries to reduce health inequalities, a...

Saudi authorities taking steps to prevent artificial price hike, says minister

  • JEDDAH: Major events including the COVID-19 pandemic and war in Ukraine have caused price hikes around the world, Saudi Minister of Commerce Majid Al-Qasabi said in a periodic government communication conference on Tuesday. The press conference discussed four key areas: Global events that led...