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Marriott International’s Portfolio Of Luxury Brands And Quintessentially Unveil A Collection Of Exclusive Luxury Experiences In The Middle East & Africa

Marriott International’s portfolio of luxury brands, including The Ritz-Carlton, St. Regis Hotels & Resorts, The Luxury Collection, EDITION, and W Hotels is delighted to unveil a collection of one-of-a-kind adventures in the Middle East and Africa curated in partnership with Quintessentially, the world’s leading luxury concierge company. Available to book now, each distinct itinerary features extraordinary experiences unique to the destination, paired with luxurious accommodations, flawle...
Tags: Travel, Africa, Middle East, Marriott International, Ritz Carlton St Regis, Portfolio Of Luxury Brands


Luxury Meets Thrift for #Dubai Startup Raising Funds to Go Abroad - Bloomberg

Luxury Meets Thrift for Dubai Startup Raising Funds to Go Abroad - Bloomberg Dubai may be better known as the Middle East’s capital of excess but a startup based in the city is raising funds for international expansion by marrying luxury with thrift.The Luxury Closet, an online platform for buying and selling used high-end goods, secured fresh financing led by regional investment firm GMP Capital, alongside international and local investors including Huda Beauty Investment, the private office ...
Tags: Travel, New York, Bloomberg, Middle East, United Arab Emirates, Dubai, Gucci, Gulf, Kunal Kapoor, Arab Gulf, Etsy Inc, Kering SA, Rupert Neil Bumfrey, Bain Co, Poshmark Inc, Bloomberg Dubai


Goldman Lifts #SaudiArabia’s Growth Forecasts as Oil Prices Rise - Bloomberg

Goldman Lifts Saudi Arabia’s Growth Forecasts as Oil Prices Rise - Bloomberg Goldman Sachs Group Inc. has raised its expectations for Saudi Arabia’s oil production and economic growth as crude prices rise well over $70 a barrel.The bank’s Middle East and North Africa economist Farouk Soussa lifted his assumptions for Saudi oil production by around 500,000 barrels per day, to reach 10 million barrels by the end of 2021 and 10.5 million in 2022. That -- combined with the release of favorable non...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, Middle East, Goldman, North Africa, Rupert Neil Bumfrey, Soussa, Farouk Soussa, Bloomberg Goldman Sachs Group Inc


MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters

MIDEAST STOCKS Major stock markets in the Gulf end mixed | Reuters Major stock markets in the Gulf ended mixed on Tuesday, with financial shares weighing on the Saudi index and property stocks bolstering Dubai.Saudi Arabia's benchmark index (.TASI) dropped 0.8%, weighed down by a 2.1% decline in Al Rajhi Bank (1120.SE) and a 2.3% slide in Saudi Telecom Company (7010.SE).The kingdom's inflation rate rose for the second consecutive month in May, climbing to 5.7% from 5.3% in April, again refl...
Tags: Travel, Qatar, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Reuters Major, Dubai Saudi Arabia, Tasi, Saudi Telecom Company, Rupert Neil Bumfrey, QSI, Hussain Sajwani, Al Rajhi Bank


Omani Plastics Firm Octal Is Said to Weigh $800 Million Sale - Bloomberg

Omani Plastics Firm Octal Is Said to Weigh $800 Million Sale - Bloomberg Octal, an Omani plastics packaging manufacturer, is weighing a sale, according to people familiar with the matter.The Muscat-based company is working with JPMorgan Chase & Co. as it considers selling a majority stake, the people said, asking not to be identified discussing confidential information. A sale could value Octal at about $800 million, one of the people said.Octal has already drawn interest from strategic suitor...
Tags: Travel, Asia, Africa, Bloomberg, Middle East, Muscat, Jpmorgan, JPMorgan Chase Co, Rupert Neil Bumfrey, Oman Saudi Arabia, Octal


#AbuDhabi’s ADQ Said in Talks to Invest $500 Million in Flipkart - Bloomberg

Abu Dhabi’s ADQ Said in Talks to Invest $500 Million in Flipkart - Bloomberg Abu Dhabi sovereign fund ADQ is in talks to invest about $500 million in India’s Flipkart, according to people familiar with the matter, as the Walmart Inc.-backed e-commerce firm raises funds ahead of a potential initial public offering next year.The oil-rich emirate’s newest state investment company is discussing an injection of funds that would value Flipkart between $35 billion and $40 billion, the people said, as...
Tags: Travel, Ipo, Singapore, India, Middle East, Abu Dhabi, Flipkart, SoftBank Group Corp, ADIA, Rupert Neil Bumfrey, Abu Dhabi Investment Authority, Mubadala Investment Co, Walmart Inc, GIC Pte, Flipkart Bloomberg, Abu Dhabi Development Holding Co


Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg

Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg Most equities markets in the Middle East extended gains on Sunday, following another positive week for crude prices.Equities gauges in Saudi Arabia, Bahrain, Oman, Kuwait, Qatar and Israel advanced as much as 0.8%, while those in Dubai and Abu Dhabi slipped less than 0.1%.Oil, the main export for Gulf countries, posted its third straight weekly rise on improving demand, with the International Energy Agency warning the...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Middle East, Dubai, Mecca, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Bloomberg Intelligence, Jabal Omar, Rupert Neil Bumfrey, Edmond Christou


Relaxation of restrictions triggers strong rebound in Middle East economies | Business – Gulf News

Relaxation of restrictions triggers strong rebound in Middle East economies | Business – Gulf News Business confidence in the Middle East has strengthened in recent months as coronavirus restrictions eased and vaccination rollouts progressed according to the latest Economic Insight report for the Middle East, compiled by Oxford Economics.While there are positive signs for recovery in the second half of this year and beyond, economies still remain far from their pre-pandemic levels.According to...
Tags: Travel, Middle East, Gulf News, Rupert Neil Bumfrey, Gulf News Business, Oxford Economics While


Singapore's VMC plans Mena expansion with $150m ADGM media investment fund | The National

Singapore's VMC plans Mena expansion with $150m ADGM media investment fund | The National Singapore-based Vistas Media Capital, the parent of the special purpose acquisition company that is taking music streaming platform Anghami public, is expanding its footprint in the Middle East and North Africa with an investment fund and an events and content production company in Abu Dhabi.The planned $150 million multi-strategy investment fund will be based in the emirate’s financial hub, Abu Dhabi Glo...
Tags: Travel, Spotify, New York, Singapore, Middle East, Dubai, Abu Dhabi, Mena, North Africa, VMC, Rupert Neil Bumfrey, Anghami, Sandeep Mishra, Vistas Media Capital, National Singapore, Abu Dhabi Global Market VMC


#Saudi PIF Commits Up to $160 Million to Gulf Infrastructure Fund - Bloomberg

Saudi PIF Commits Up to $160 Million to Gulf Infrastructure Fund - Bloomberg Saudi Arabia’s sovereign wealth fund has agreed to commit up to a fifth of a planned $800 million Middle East infrastructure fund being established by Aberdeen Standard Investments and Investcorp.The Aberdeen Standard Investcorp Infrastructure Partners fund has received the pledge from the PIF along with another $90 million commitment from the Asian Infrastructure Investment Bank, according to a statement Thursday. Th...
Tags: Travel, Bloomberg, Aberdeen, Middle East, Michael Fallon, Bahrain, Asian Infrastructure Investment Bank, Investcorp, Rupert Neil Bumfrey, U K Defense, Aberdeen Standard Investments, NBK Capital Partners, Hazem Ben Gacem, Gulf Infrastructure Fund Bloomberg, Gulf Infrastructure Fund Bloomberg Saudi Arabia


Soaring Mideast Heat May Roil Oil Market as Demand Surges - Bloomberg

Soaring Mideast Heat May Roil Oil Market as Demand Surges - Bloomberg Soaring temperatures in one of the world’s top energy-producing regions could drive fuel prices higher as countries there burn more oil and natural gas to keep homes cool.Saudi Arabia, the United Arab Emirates and Kuwait are all experiencing weather that’s hotter than normal. That has coincided with a tightened crude market, with the Organization of Petroleum Exporting Countries and its allies continuing to hold back million...
Tags: Travel, London, Saudi Arabia, Iraq, Opec, Bloomberg, Middle East, United Arab Emirates, Kuwait, Gulf, Persian Gulf, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Oxford Institute for Energy Studies, Ahmed Mehdi, Bloomberg Soaring


Founder of #Dubai property firm DAMAC makes $255 mln take private bid | Reuters

Founder of Dubai property firm DAMAC makes $255 mln take private bid | Reuters Emirati property tycoon Hussain Sajwani has made a 935.4 million dirham ($255 million) offer to buy out minority shareholders in DAMAC Properties (DAMAC.DU), which he has run for nearly two decades.The all cash offer for DAMAC comes amid a years-long slump in Dubai's once hot property market, which has been exacerbated by the pandemic that hit the local economy hard last year.DAMAC is best-known for building the Mid...
Tags: Travel, London, Middle East, Dubai, Donald Trump, Maple, Trump, Reuters, Reuters Emirati, Rupert Neil Bumfrey, Damac, Hussain Sajwani, Sajwani, Emaar Properties Dubai, Maple Invest Co, DAMAC Maple Invest Co


#Saudi sovereign fund PIF appoints two to new deputy governor roles | Reuters

Saudi sovereign fund PIF appoints two to new deputy governor roles | Reuters Saudi Arabia’s sovereign wealth fund PIF said on Tuesday it has established two deputy governor roles to support the $430 billion fund’s continued growth and expansion.Turqi Alnowaiser, who heads PIF’s International Investments division, and Yazeed Alhumied, who leads the fund’s MENA (Middle East and North Africa) Investments Division, formerly the Local Holdings Investments Division, will take on the roles alongside ...
Tags: Travel, Saudi Arabia, Middle East, Pif, Mena, Reuters, Rupert Neil Bumfrey, Yasir al Rumayyan, Turqi Alnowaiser, PIF 's International Investments, Yazeed Alhumied, North Africa Investments Division, Local Holdings Investments Division


Accor Transforms its Accounting System for Hotels in Middle East with Infor SaaS Solution

Infor, the industry cloud company, today announced that Accor IMEA, an augmented hospitality leader with more than 400 hotels in India, Middle East, Africa and Turkey, is transforming its accounting systems with Infor SunSystems, a powerful financial management solution, on AWS.
Tags: Travel, Turkey, Middle East, Accor, Infor, India Middle East Africa


The Middle East’s Hotel Construction Pipeline Shows Decline At The End Of Q1’21

According to the Lodging Econometrics’ (LE) Q1’21 Construction Pipeline Trend Report for the Middle East, the hotel construction pipeline in the region dropped to 534 projects/153,225 rooms, down 12% by projects and 11% by rooms year-over-year (YOY).
Tags: Travel, Middle East, Lodging Econometrics


Big Oil’s political clout wanes as governments embrace green energy | Financial Times

Big Oil’s political clout wanes as governments embrace green energy | Financial Times The handshake between then UK prime minister Tony Blair and Muammer Gaddafi in the desert in 2007 was not just the moment the Libyan leader cemented ties with an old foe. It was also a stark symbol of the role “Big Oil” played in foreign policy.  BP sealed a significant exploration deal on the same trip, which capped its efforts to nudge the UK government to re-establish ties with the late North A...
Tags: Travel, Europe, UK, Obama, Russia, US, Joe Biden, Middle East, Tony Blair, Bp, Financial Times, Big Oil, Rupert Neil Bumfrey, Nordstream, Muammer Gaddafi, Greg Priddy


#Saudi Wealth Fund, Early Alibaba Investor Back Jordanian Startup - Bloomberg

Saudi Wealth Fund, Early Alibaba Investor Back Jordanian Startup - Bloomberg A unit of Saudi Arabia’s $400 billion Public Investment Fund has led a new financing round for OpenSooq.com, a Jordan-based online classifieds business that’s looking to triple its headcount across the Middle East.The Saudi Jordanian Investment Fund, a $3 billion entity created by the Saudi wealth fund and a group of Jordanian banks, is backing OpenSooq along with existing investors iMENA Group and FJLabs -- founded b...
Tags: Travel, Saudi Arabia, Middle East, Jordan, Arabian Peninsula, Levant, Alibaba Group Holding Ltd, Fabrice Grinda, Rupert Neil Bumfrey, Public Investment Fund, iMENA Group, Khaldoon Tabaza, Alibaba Investor Back Jordanian Startup Bloomberg, Saudi Jordanian Investment Fund, Salah Al Sharif OpenSooq, OpenSooq


Emaar’s January-May Property Sales Surge on #Dubai Rebound - Bloomberg

Emaar’s January-May Property Sales Surge on Dubai Rebound - Bloomberg Emaar Properties PJSC’s five-month sales surged as Dubai’s real-estate market bounced back from the impact of the coronavirus pandemic.The company put total property sales at 10.5 billion dirhams ($2.9 billion) compared with 3 billion dirhams year ago.“I am confident that the Dubai property market is once again a growth story for developers, in light of the UAE’s wise policies, with Emaar perfectly positioned to capitalize o...
Tags: Travel, Middle East, United Arab Emirates, Dubai, Uae, Emaar, Rupert Neil Bumfrey, Mohamed Alabbar, Dubai Rebound Bloomberg, Dubai Rebound Bloomberg Emaar Properties PJSC


Omani Shares Lead Mideast Gains on Rare Bank Tie-Up: Inside EM - Bloomberg

Oman’s main equities index led Middle-East gains as a rare cross-Gulf bank tie-up propelled the National Bank of Oman’s shares higher.The company was the biggest gainer on Oman’s benchmark index on Sunday, after Commercial Bank of Qatar QSC said it was looking to build a controlling stake in the firm. Qatari banks are expanding across the region, spurred on by the normalization of ties between Doha and neighboring Gulf states in January. “We believe that the National Bank of Oman has tak...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Middle East, Oman, Muscat, Bahrain, Doha, Gulf, Emirates NBD, DAMAC Properties, Rupert Neil Bumfrey, Dubai Islamic Bank, Riyadh Abu Dhabi, Al Rajhi Bank


#SaudiArabia's retail market more investable as more women enter workforce, Majid Al Futtaim chief says | The National

Saudi Arabia's retail market more investable as more women enter workforce, Majid Al Futtaim chief says | The National The increasing number of women entering Saudi Arabia's workforce is one of a number of fundamental factors encouraging Dubai-based Majid Al Futtaim to make more investments in the kingdom, its chief executive said.Last week, the Dubai-based group appointed Aecom as lead consultant on its 16 billion Saudi riyals ($4.26bn) Mall of Saudi project and opened its first artificial in...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Jeddah, Riyadh, Aecom, Majid Al Futtaim, Rupert Neil Bumfrey, The National Saudi Arabia, Saudi Arabia Alain, Bejjani Majid Al Futtaim Holding


QNB Group signs deal with Moscow asset management firm | Reuters

QNB Group signs deal with Moscow asset management firm | Reuters QNB Group (QNBK.QA) said on Friday it has signed an agreement with Moscow-based asset manager VTB Capital Investments, to launch funds to attract foreign capital into Russia and Qatar, and build offerings for international investors.The Doha, Qatar-based financial institution, the largest in the Middle East and Africa, said the memorandum of understanding will also help manage and carry out advisory activities in debt, equity and...
Tags: Travel, Russia, Africa, Qatar, Middle East, Moscow, Reuters, Doha Qatar, Rupert Neil Bumfrey, VTB Capital, QNB Group, Reuters QNB Group QNBK QA, VTB Capital Investments


HFTP E20X Dubai Competition Debuts in the Middle East with Eight Start-up Competitors

Hospitality Financial and Technology Professionals (HFTP®) successfully featured eight start-up companies with innovative technology solutions at its Entrepreneur 20X (E20X) competition at HITEC® Dubai on June 1, 2021. This was the Dubai debut for E20X, which was first established in 2015 at HITEC North America. The competitors each pitched their solution to a panel of six industry experts for four minutes, which was then immediately followed by four minutes of Q&A from the judges. At the...
Tags: Travel, Middle East, Dubai, HITEC, Dubai World Trade Center, HITEC Dubai, Dubai Competition Debuts


#AbuDhabi’s ADQ Weighs Stake in Juhayna Food Egyptian Dairy Firm - Bloomberg

Abu Dhabi’s ADQ Weighs Stake in Juhayna Food Egyptian Dairy Firm - Bloomberg ADQ is considering acquiring a stake in Juhayna Food Industries as the Abu Dhabi sovereign wealth fund pursues more deals in Egypt, according to people familiar with the matter.Abu Dhabi’s newest state fund has been weighing a potential investment in Egypt’s largest dairy and juice producer, the people said, asking not to be identified as the matter is private. Shares of Juhayna were up 5% at 10:46 a.m. Thursday in Ca...
Tags: Travel, Egypt, Middle East, United Arab Emirates, Abu Dhabi, Cairo, LuLu Group International, Rupert Neil Bumfrey, Juhayna, Juhayna Food Industries, Thabet, Bausch Health Cos, Juhayna Food Egyptian Dairy Firm Bloomberg, Juhayna Food Egyptian Dairy Firm Bloomberg ADQ, Safwan Thabet Juhayna, Seifeldin Thabet


HFTP E20X Dubai Competition Debuts in the Middle East with Eight Start-up Competitors, Software Platform Company Hoick Announced Winner of the Judges’ Choice Award

Hospitality Financial and Technology Professionals (HFTP®) successfully featured eight start-up companies with innovative technology solutions at its Entrepreneur 20X (E20X) competition at HITEC® Dubai on June 1, 2021. This was the Dubai debut for E20X, which was first established in 2015 at HITEC North America. The competitors each pitched their solution to a panel of six industry experts for four minutes, which was then immediately followed by four minutes of Q&A from the judges. At the...
Tags: Travel, Middle East, Dubai, HITEC, Dubai World Trade Center, HITEC Dubai, Dubai Competition Debuts


Outside Of North America, Hotel Industry Recovery Is Sporadic

While the recovery varies widely, global hotel performance has shown signs of improvement across most world regions. From roadmaps to reopening across Europe to travel bubbles between key Asia Pacific markets and the overachieving Middle East in between, most of the world's hoteliers have started to finally see the light at the end of the tunnel. Even South America, which, like Europe, sits a bit behind the rest of the pack, has found some strength in an unexpected hotel type this month.
Tags: Travel, Europe, Asia Pacific, Middle East, South America, North America


Investcorp to Delist From Bahrain Exchange After Nearly 40 Years - Bloomberg

Investcorp to Delist From Bahrain Exchange After Nearly 40 Years - Bloomberg Investcorp Holdings BSC, the Middle East’s biggest alternative asset manager, will delist from the Bahrain stock exchange after almost four decades in response to low trading volumes, the latest in a string of companies in the region to go back into private ownership.The firm, which manages assets of more than $35 billion, got approval from investors to delist at a shareholder meeting in Bahrain Wednesday. Investcorp ...
Tags: Travel, Bloomberg, Middle East, Dubai, Bahrain, MANAMA, Investcorp, Rupert Neil Bumfrey, Central Bank of Bahrain, Hazem Ben Gacem, Ben Gacem, Bloomberg Investcorp Holdings BSC


#Dubai’s hotels will see a return to pre-COVID occupancy rates by 2023: KPMG | Tourism – Gulf News

Dubai’s hotels will see a return to pre-COVID occupancy rates by 2023: KPMG | Tourism – Gulf News Dubai’s hotels saw occupancy rates of nearly 60 per cent in the month of April after setting a 12-month high figure during the winter.Occupancy rates surged to 69 per cent in December after “nosediving” to less than 25 per cent during the initial outbreak of the virus last year, according to a KPMG hospitality industry report. The emirate’s occupancy levels are “significantly” higher than the Mi...
Tags: Travel, Africa, Middle East, Dubai, Kpmg, Rupert Neil Bumfrey


#SaudiArabia Trading Resumes in Biggest Mideast Exchange After Two-Hour Halt - Bloomberg

Saudi Arabia Tadawul Stock Exchange Trading Halted, State TV Says - Bloomberg Equities trading resumed in Saudi Arabia after a technical glitch shuttered the Middle East’s biggest stock exchange for two hours.“The technical issue has been resolved and trading services are now functioning normally,” the Saudi Exchange said in a statement. Shares were trading 0.6% higher when trading restarted on Wednesday.The bourse is home to over 200 listed securities with a total market capitalization of abo...
Tags: Travel, Saudi Arabia, Ipo, Bloomberg, Middle East, New Zealand, Slovenia, Tokyo Stock Exchange, Germany Hungary, NCB Capital, Rupert Neil Bumfrey, Deutsche Boerse AG, Citigroup Inc JPMorgan Chase Co, Mohammed Ali Yasin, Euronext NV, Al Dhabi Capital Ltd


Mubadala May Part Ways With Rowlands as Partner in Digital Bank - Bloomberg

Mubadala May Part Ways With Rowlands as Partner in Digital Bank - Bloomberg A digital bank backed by Mubadala Investment Co. is looking to replace the British Rowland family as its founding shareholder, embarking on a rebuild the Abu Dhabi sovereign fund blames on the global pandemic.Set up in 2018 in Abu Dhabi’s financial hub by Mubadala and a Rowland-owned entity, the Anglo-Gulf Trade Bank was touted as the world’s first digital trade bank, promising to create an online finance platform that...
Tags: Travel, Asia, Qatar, Bloomberg, Britain, Middle East, United Arab Emirates, Zimbabwe, Abu Dhabi, Andrew, Bloomberg News, Mohammed bin Zayed, Rowland, Rowlands, Rupert Neil Bumfrey, India Saudi Arabia


MIDEAST STOCKS #UAE, #Saudi indexes log monthly gain as Middle East markets end mixed | Reuters

MIDEAST STOCKS UAE, Saudi indexes log monthly gain as Middle East markets end mixed | Reuters Middle Eastern stock markets closed mixed on Monday, with indexes in the United Arab Emirates and Saudi Arabia logging monthly gains amid rising oil prices and improving business activity in their non-oil sectors.Brent crude futures (.LCOc1) have gained more than 3% this month and are up more than 34% year-on-year, according to Refinitiv Eikon data.The United Arab Emirates' non-oil sector expanded...
Tags: Travel, Saudi Arabia, Qatar, Middle East, United Arab Emirates, Dubai, Reuters, Arabia, Riyad Bank, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI, Emaar Properties EMAR DU, Reuters Middle Eastern



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