黑料社区

Green Horizons: 黑料社区鈥檚 sustainable tourism drive planting seeds for economic growth

Green Horizons: 黑料社区鈥檚 sustainable tourism drive planting seeds for economic growth
Tourism destinations such as this resort in Tabuk province, which is part of the Red Sea tourism megaproject, are designed to operate entirely on renewable sources, significantly lowering carbon emissions. (AFP file photo)
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Updated 02 February 2025

Green Horizons: 黑料社区鈥檚 sustainable tourism drive planting seeds for economic growth

Green Horizons: 黑料社区鈥檚 sustainable tourism drive planting seeds for economic growth

RIYADH: Eco-friendly holiday destinations being developed across 黑料社区 are positioning the Kingdom as a leader in sustainable tourism, a host of experts have told Arab News.

Aligning with the Vision 2030 strategy to increase visitor numbers to the Kingdom to 150 million a year by the end of the decade, 黑料社区 is creating a host of new vacation resorts, as well as reinvigorating existing popular spots.

Alongside this, the Kingdom has made environmental preservation a key tenet of its ambitions for the tourist industry, with ecological and cultural safeguards inserted directly into its strategy.

According to Pascal Armoudom, partner at Kearney Middle East & Africa, this balanced approach ensures that tourism expansion enhances, rather than compromises, the Kingdom鈥檚 natural and cultural assets.

鈥淎 central element is renewable energy investment across giga-projects like NEOM and the Red Sea Project. These destinations are designed to operate entirely on renewable sources, significantly lowering carbon emissions. By aligning economic growth with clean energy, 黑料社区 not only attracts environmentally-conscious visitors but also creates sustainable jobs, supporting economic diversification away from oil,鈥 Armoudom said.




Pascal Armoudom, Partner at Kearney Middle East & Africa. (Supplied)

鈥淐onservation commitments further reinforce this balance. The Saudi Green Initiative aims to plant 10 billion trees and restore millions of hectares of land, reducing carbon while enhancing landscapes that are vital to eco-tourism,鈥 he added.

The Kearney partner went on to note that these commitments ensure that as tourism grows, natural habitats are preserved, making 黑料社区鈥檚 landscapes more resilient and attractive for long-term tourism investment.

鈥淐ultural preservation and community integration are also prioritized. Projects like Diriyah Gate and AlUla involve local communities in heritage conservation and economic opportunities, allowing residents to benefit economically while protecting cultural authenticity. By prioritizing heritage alongside economic incentives, 黑料社区 creates a tourism model that is inclusive and respects its historical identity,鈥 Armoudom said.

He added that uniting renewable energy, conservation, and cultural preservation enables 黑料社区 to build a thriving tourism economy that aligns with global sustainability standards, which will in turn foster growth that sustains both the environment and the economy.

Learning from the mistakes of others

Camilla Bevilacqua, partner at management consulting firm Arthur D. Little, explained that 黑料社区 has the opportunity to learn from more mature global destinations, where tourism significantly contributes to economic growth but can lead to environmental and social degradation when not designed from a systemic perspective.

鈥淭o unlock the full potential of regenerative development, it鈥檚 crucial to integrate ecological, social, cultural, and economic understanding into a unified approach, creating a community that becomes steward of the development and a development that contributes to the intrinsic value of natural and heritage assets,鈥 she added.




Camilla Bevilacqua, partner at management consulting firm Arthur D. Little. (Supplied)

The ADL partner also suggested that loss of natural and cultural assets requires large investments, especially from the public sector, to restore habitats and communities that can instead drive economic growth.

The notion that economic development in tourism and environmental protection is not a zero-sum game was echoed by Seif Sammakieh, partner in Oliver Wyman鈥檚 Government and Public Institutions Practice and the head of the Riyadh office.

He flagged up that 黑料社区 is already putting this mentality into practice, adding: 鈥淎cross the ecosystem there is clearly a deep commitment to safeguarding natural and cultural heritage, and a recognition that these resources are essential to the country鈥檚 tourism appeal.鈥

Sammakieh highlighted that part of the attraction of the Red Sea is its rich and diverse coral reef, meaning the economic success of the tourist destination requires a steadfast commitment to environmental preservation.

Innovation is key

黑料社区 is leading sustainable tourism through innovative, eco-friendly developments that align with Vision 2030鈥檚 commitment to environmental conservation and cultural preservation.

Kearney鈥檚 Armoudom highlighted Amaala, a luxury wellness destination on the Red Sea coast, as an example of a project that will be fully powered by renewable energy.




Seif Sammakieh, partner in Oliver Wyman鈥檚 Government and Public Institutions Practice and the head of the Riyadh office. (Supplied)

He also focused on Diriyah Gate as a project that blends cultural preservation with sustainable practices.

鈥淭his historic site is being developed as a cultural hub, incorporating energy-efficient designs, water-saving measures, and native landscaping, allowing visitors to experience Saudi heritage responsibly,鈥 the Kearney partner added.

From ADL鈥檚 side, Bevilacqua noted that 黑料社区鈥檚 Vision 2030 includes sustainable tourism initiatives across multiple projects and organizations, such as Soudah, AlUla, NEOM, the Red Sea, and several Royal Reserves and National Parks. She also stressed that these efforts target ecological restoration, economic transformation, and community empowerment.

鈥淔or Soudah Development, ecological restoration plans to plant over 1 million trees by 2030 aim to restore mountain ecosystems, while wildlife reintroduction programs, such as the rewilding of Nubian ibex, enhance biodiversity. Additionally, over 300 locals have been trained as eco-guides and forest stewards, contributing directly to tourism growth and increasing community engagement,鈥 Bevilacqua said.

With regards to the Red Sea Project, the ADL partner emphasized that the coral reef and mangrove restoration efforts aim for a 40 percent biodiversity increase and sequester 500,000 tonnes of carbon dioxide annually as part of marine and coastal ecosystem restoration. Additionally, over 500 jobs have been created, aligning conservation with economic development through ecotourism initiatives.

The rise of eco-tourism

While integrating sustainability and environmental protection into tourism developments is admirable, these projects do ultimately need to attract visitors in order to deliver an economic return.

Nicolas Mayer, PwC Middle East partner and global tourism industry lead, explained that tourists drawn to nature-based experiences tend to be strong spenders, contributing significantly to the local economy.

鈥淓co-tourism, in particular, has a profound economic impact on more remote and economically weaker regions, where visitor spending can create jobs, stimulate local businesses, and foster infrastructure development that benefits residents and tourists alike,鈥 Mayer said.




Nicolas Mayer, PwC Middle East Partner, Global Tourism Industry Lead. (Supplied)

鈥淭his type of tourism is especially appealing for domestic travelers, who bring significant economic benefits while generating a lower ecological impact than international visitors. By encouraging domestic tourism, the Kingdom reduces the carbon footprint associated with air travel, thus aligning with its sustainability goals,鈥 he added.

The PwC representative continued to stress that the concept of regenerative tourism is central to 黑料社区鈥檚 approach.

鈥淯nlike traditional tourism, which may strain resources, regenerative tourism actively restores and enhances natural and cultural sites. This approach ensures that destinations not only maintain their ecological and cultural value but also improve over time, offering a richer experience for future visitors and a lasting legacy for local communities,鈥 Mayer said.


Closing Bell: Saudi main index slips to close at 11,559聽

Closing Bell: Saudi main index slips to close at 11,559聽
Updated 08 October 2025

Closing Bell: Saudi main index slips to close at 11,559聽

Closing Bell: Saudi main index slips to close at 11,559聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index ended lower on Wednesday, falling 23.96 points, or 0.21 percent, to close at 11,559.27.  

The total trading turnover for the main index stood at SR7.62 billion ($2.03 billion), with 619.4 million shares traded. A total of 60 stocks advanced, while 191 declined.  

The MT30 Index, which tracks the top 30 companies by market capitalization, also slipped 1.75 points, or 0.12 percent, to 1,507.62.   

In contrast, the Nomu parallel market gained 172.63 points, or 0.68 percent, to close at 25,693.25, with 47 gainers and 41 losers.  

Saudi Paper Manufacturing Co. was the day鈥檚 best performer, climbing 3.03 percent to SR59.60. It was followed by Naqi Water Co., which rose 2.71 percent to SR56.95, and Al Babtain Power and Telecommunication Co., which increased 2.50 percent to SR61.50.  

Middle East Pharmaceutical Industries Co. gained 2.13 percent to SR134, while Naseej International Trading Co. advanced 2.03 percent to SR90.30.  

On the downside, Chubb Arabia Cooperative Insurance Co. recorded the sharpest fall, slipping 3.87 percent to SR39.70. Saudi Printing and Packaging Co. dropped 3.66 percent to SR10.79, while Emaar the Economic City fell 3.55 percent to SR13.30.   

Saudi Reinsurance Co. decreased 3.05 percent to SR49.98, and Gulf General Cooperative Insurance Co. shed 3.02 percent to SR5.13.  

On the announcement front, Rabigh Refining and Petrochemical Co. announced developments regarding the binding share sale and purchase agreement between Saudi Aramco and Sumitomo Chemical Co. Ltd.   

The company said the agreement involves the transfer of marketing rights for products currently held by Sumitomo and its affiliates to Saudi Aramco and its subsidiaries.   

The company confirmed that it has entered into related agreements to finalize the amendments required under the 鈥淥mnibus Amendment Agreement.鈥  

Petro Rabigh shares closed 0.26 percent lower at SR7.70.  

Meanwhile, Saudi Vitrified Clay Pipes Co. said that the Saudi Authority for Industrial Cities and Technology Zones approved a waiver of the lease agreement to Al-Muthahidah Al-Manaqiyah Industries Co., making its SR45 million factory sale binding.  

The financial impact will be reflected in the third quarter of 2025, the company said. 

SVCP shares closed 0.86 percent lower at SR27.76.  

In addition, Thimar Advertising, Public Relations and Marketing Co. announced filing a legal lawsuit before the Securities Disputes Resolution Committee against Middle East Financial Investment Co., the manager of the Saudi Film Fund, in connection with a previously signed SR37.5 million investment agreement.   

The company said the disputed amount remains recorded as a debit balance and will be reclassified once a ruling is issued.  

Thimar Advertising鈥檚 shares closed 0.69 percent lower at SR15.82.  


黑料社区, Morocco forge pact to protect investments聽

黑料社区, Morocco forge pact to protect investments聽
Updated 08 October 2025

黑料社区, Morocco forge pact to protect investments聽

黑料社区, Morocco forge pact to protect investments聽

JEDDAH: 黑料社区 and Morocco have signed an agreement to encourage and protect mutual investments, aiming to safeguard investors鈥 rights and boost cross-border capital flows as the two nations strengthen economic cooperation. 

The deal was signed in Rabat by Saudi Investment Minister Khalid Al-Falih and Moroccan Minister of Economy and Finance Nadia Fettah Alaoui during the Saudi minister鈥檚 official visit to the North African nation. 

This comes amid growing economic relations, with trade between the two countries reaching SR5 billion ($1.33 billion) in 2024. Saudi exports accounted for SR4.3 billion, while imports stood at SR640 million. 

In a post on its official X account, the Saudi Ministry of Investment said both ministers signed 鈥渁n agreement to encourage and protect mutual investments between the two Kingdoms, to strengthen the economic partnership between them, safeguard investors鈥 rights, and support the flow of investments in various sectors.鈥 

Under the agreement, the two countries committed to creating a stable and transparent environment for investors. It guarantees fair and equitable treatment, freedom to transfer funds, and protection against expropriation without fair compensation. The pact also enables investors to seek international arbitration in the event of disputes 

Al-Falih and Alaoui also discussed ways to enhance financial partnerships, economic policies, stimulate growth, and strategies for financing major developmental projects. 

Morocco ranks as 黑料社区鈥檚 57th largest export partner and 51st for imports, with key trade including vehicles, insulated wires, fertilizers, and clothing from 黑料社区, and refined petroleum, vehicles, accessories, and wheat from Morocco. 

The deal also aims to promote sustainable economic growth and address challenges faced by investors, thereby strengthening bilateral economic cooperation and deepening the strategic partnership between the two countries. 

In another post, the Investment Ministry said Al-Falih held a bilateral meeting with Moroccan Minister of Investment, Convergence, and Evaluation of Public Policies Karim Zidane. 

鈥淭hey discussed the strategic vision for sustainable development, the evaluation of public policies and the improvement of the business environment and explored ways to enhance economic cooperation between the two countries,鈥 the post added.

During his visit, Al-Falih also met with Morocco鈥檚 Minister of Industry and Trade Ryad Mezzour, with whom he discussed strengthening industrial and commercial cooperation, developing manufacturing industries, and attracting new investments. 

The Saudi minister also met with several Moroccan government officials and a group of business and financial leaders to strengthen investment relations and address challenges facing investors in both countries. 


Riyadh Air ready for take-off with first flight to London on Oct. 26

Riyadh Air ready for take-off with first flight to London on Oct. 26
Updated 08 October 2025

Riyadh Air ready for take-off with first flight to London on Oct. 26

Riyadh Air ready for take-off with first flight to London on Oct. 26
  • Here鈥檚 a sneak peek at its first flight, luxury lounge launch, and new partnerships

RIYADH: Announced at its headquarters in the Kingdom鈥檚 capital, Riyadh Air is officially taking to the skies 鈥 and it鈥檚 earlier than you think.

The airline鈥檚 maiden flight will depart from Riyadh to London鈥檚 Heathrow on Oct. 26 with a Boeing 787-9 technical spare aircraft named 鈥淛amila,鈥 which means 鈥渂eautiful鈥 in Arabic.

Riyadh Air, the newest national airline for 黑料社区, was announced in 2023 and is owned by the Kingdom鈥檚 Public Investment Fund.

As well as revealing the maiden flight, the airline also announced a string of fresh updates 鈥 from its opening of a luxury lounge, launching of a loyalty program, as well as new high-profile partnerships.

Talking to Arab News, Riyadh Air CEO Tony Douglas said: 鈥淚鈥檒l be honest, on a personal level it鈥檚 almost overwhelming. And I鈥檓 probably speaking on behalf of the whole of the Riyadh Air family. It is a historic moment. It鈥檚 been a three-year pathway to perfect, and the next stage of this is leading us through to going live on Oct. 26, daily service to London Heathrow.鈥 

"We鈥檝e got two new aircraft soon to be delivered. We need three to start commercial operations, with ticket sales to the general public. So we鈥檙e going to put Jamila, which is our technical spare aircraft, onto Heathrow first. When the first new one gets delivered, we switch Jamila on to Dubai, second destination. The new aircraft goes on to Heathrow.鈥 

Flights to Dubai will soon follow, with winter 2025 and summer 2026 destinations to be announced imminently.

"When the second new aircraft arrives, that one goes on to Dubai, Jamila retires as the technical spare and then we open to general public sales. And it鈥檚 going to be very soon,

鈥淚t鈥檚 very, very soon. The first aircraft came out the paint shop 10 days ago. It鈥檚 finished. Obviously, testing and certification, it takes time. We鈥檙e not in control of it, hence the reason we鈥檙e not giving a precise date. But why have we done this release, this press conference today, is we know it鈥檚 imminent,鈥 the CEO added. 

鈥淲e are not just selling tickets; we are selling an experience,鈥 Osamah Al-Nuaiser, senior vice president of marketing and corporate communications, told Arab News.

The first daily launch flights will carry select guests, allowing the airline to refine operations and the overall experience before general commercial passengers are welcomed.It was also announced that travelers will be welcomed into Riyadh Air鈥檚 first premium airport experience 鈥 the 鈥淗afawa Lounge鈥 at King Khalid International Airport, located between Terminals 1 and 2. 

鈥淗afawa鈥 is an Arabic word that embodies warmth and hospitality. Spanning nearly 2,000 sq. meters and accommodating 370 guests, the lounge is exclusively for Business Elite and Business Class travelers and will have private and communal spaces and dining areas.

Riyadh Air is also launching its loyalty program 鈥淪feer,鈥 now open to travelers via the Riyadh Air website. 

Meaning 鈥淎mbassador鈥 in Arabic, early registrants will receive priority bookings and other perks. 

When fully activated in 2026, 鈥淪feer鈥 will feature gamified challenges, leaderboards, invitations to exclusive events, complimentary onboard Wi-Fi and a range of benefits from global partners.

Commenting on Sfeer, the CEO said: "So this is really exciting for us as well. To the best of our knowledge, we can鈥檛 think of another airline that launched the loyalty program at exactly the same time as launching the airline. One of the many benefits of signing up straight away to become a Sfeer member is you will become a Founders Club member as well. That will give lots of unique benefits, but also the ability to start now planning your travel with Riyadh Air.鈥

A cornerstone of Riyadh Air鈥檚 international strategy is its partnership with Saudia Airlines, the Kingdom鈥檚 national carrier, Al-Nuaiser emphasized.

鈥淪audia Airlines is very important. We started the first airline partnership with Saudia and the reason being we need to integrate not compete. Of course, we need to make sure that there鈥檚 synergy between both national carriers,鈥 Al-Nuaiser told Arab News.

The arrangement allows travelers to earn and redeem loyalty points across both carriers, Riyadh Air and Saudia, strengthening integration and connectivity rather than competition.

A partnership with Saudi wellness brand Kayanee was also announced, which will see the company provide loungewear and amenity kits for Business Elite, Business, and Premium Economy cabins. 

Another major announcement focuses on Riyadh Air鈥檚 partnership with the popular ride-sharing brand Uber, which is already widely-used in 黑料社区. This collaboration will provide seamless ground transportation for travelers and integrate loyalty benefits, marking a key step in connecting the seamless transport of passengers from doorstep to departure.

Cabin crew uniforms are designed by Paris-based Saudi designer Mohammed Ashi, and were unveiled in June, 2024, at Haute Couture Week in the French capital.

As announced earlier this year, Riyadh Air鈥檚 catering will be handled by Saudi company Catrion under a five-year, SR2.3 billion ($610 million) contract, ensuring consistent food and beverage quality across all flights. Menus promise to blend Saudi and international flavors for a premium culinary experience鈥 and plenty of Saudi coffee.

Since its launch two years ago, Riyadh Air has partnered with 10 other global carriers including Delta, Virgin Atlantic, and Turkish Airlines, as well as China Eastern, Singapore Airlines, and EgyptAir, enabling gradual network expansion.

Underlining the pace of its development, Riyadh Air has grown from fewer than 10 employees to nearly 600.

鈥淚鈥檓 employee number nine in the airline. So I鈥檓 part of the founding members of Riyadh Air. Never been prouder than seeing the establishment of this airline come to life, but also to have been blessed with the team that has been growing the trajectory,鈥 Al-Nuaiser said.

He also emphasized Riyadh Air鈥檚 Saudi roots and cultural mission, saying: 鈥淲e are from Riyadh and we will serve the people of Riyadh and the people of the Kingdom first. At the same time, we want to attract tourists and business travelers as part of the national strategy for tourism.鈥

Al-Nuaiser added: 鈥淲e want to take the hospitality and generosity of the people and make sure that we also carry that and connect Riyadh to the world and the world to Riyadh. Flying is such a beautiful privilege鈥 we want to bring a little bit of glamor back to the skies. We want to create an icon that we all are proud of.鈥


Abu Dhabi signs multi-sector agreements in US investment push

Abu Dhabi signs multi-sector agreements in US investment push
Updated 08 October 2025

Abu Dhabi signs multi-sector agreements in US investment push

Abu Dhabi signs multi-sector agreements in US investment push

JEDDAH: The UAE strengthened its economic partnership with the US during a three-day visit to New York, where Abu Dhabi officials signed a series of agreements in technology, finance, energy, and manufacturing. 

The high-level delegation, led by Ahmed Jasim Al-Zaabi, chairman of the Abu Dhabi Department of Economic Development, met with US government officials and business leaders to boost trade and investment cooperation, according to the Emirates News Agency, also known as WAM. 

The visit witnessed the inking of agreements to enhance cooperation in sectors including startups, family businesses, and small and medium enterprises, as well as digital infrastructure, new energy, advanced manufacturing, and financial services. 

The two countries share a strong and growing economic relationship, with bilateral trade reaching $34.4 billion in 2024 鈥 an 8.5 percent increase year on year 鈥 making the UAE the largest US trading partner in the Middle East, with trade spanning all 50 US states and supporting over 184,000 jobs. 

In a statement, Al-Zaabi said: 鈥淲e are proud of our strong and evolving partnership with the US. This visit has enabled us to build more collaborative initiatives to harness new trends, mega shifts, and technological transformations witnessed by the global economy.鈥 

He added: 鈥淏acked by five decades of fruitful cooperation, our trade and investment ties with the US continue on an upward trajectory,鈥 noting that mutual investments are also increasing and expanding, supercharging growth across various sectors and industries, and creating thousands of jobs. 

He emphasized that this growth reflects the depth and strength of their cooperation with the US and affirmed their commitment to further enhancing it, enabling businesses and investors to grow, thrive, and expand. 

In recent years, Abu Dhabi鈥檚 non-oil trade with the US has grown by 28.4 percent, while US companies operating in Abu Dhabi have seen a 52.9 percent compound annual growth rate, reflecting deepening ties in key economic sectors. 

According to a report released in May by the White House, US President Donald Trump announced over $200 billion in commercial deals between the two countries 鈥 bringing the total of investment agreements in the Gulf region to over $2 trillion. 

This builds on the UAE鈥檚 commitment to a 10-year, $1.4 trillion investment framework that will contribute to the US boom in AI infrastructure, semiconductors, energy, quantum computing, biotechnology, and manufacturing, as per the US official release. 

The New York event brought together 15 of Abu Dhabi鈥檚 largest listed companies from diverse sectors, with a combined market capitalization exceeding $300 billion, and featured more than 100 one-on-one meetings with leading US institutional investors managing assets of over $10 billion. 

The delegation included senior officials from Abu Dhabi鈥檚 public and private sectors, among them Ghannam Al-Mazrouei, chairman of the Abu Dhabi Securities Exchange Group, Hamad Sayah Al-Mazrouei, undersecretary of ADDED, and Badr Al-Olama, director general of the Abu Dhabi Investment Office. 


Egypt鈥檚 inflation eases to 10.3% in September as price pressures cool聽

Egypt鈥檚 inflation eases to 10.3% in September as price pressures cool聽
Updated 08 October 2025

Egypt鈥檚 inflation eases to 10.3% in September as price pressures cool聽

Egypt鈥檚 inflation eases to 10.3% in September as price pressures cool聽

RIYADH: Egypt鈥檚 inflation slowed for a fourth consecutive month in September, easing to 10.3 percent year on year as consumer price pressures continued to moderate, official data showed. 

The Central Agency for Public Mobilization and Statistics said the Consumer Price Index rose 1.5 percent month on month to 260.9 points, driven mainly by higher housing and utility costs. 

Egypt鈥檚 inflation peaked at around 33.2 percent in September 2023 but has steadily eased since the government secured an $8 billion loan program from the International Monetary Fund in March 2024, which helped stabilize the currency and support policy reforms. 

In its latest release, CAPMAS stated: 鈥淗ousing, water, electricity, gas and fuel section recorded an increase of 3.4 percent due to an increase in prices of the actual rental group of houses by 1.3 percent, calculated rent group of houses by 7.1 percent, and group of maintenance and repair of houses by 1.4 percent.鈥  

The report added that expenses for water and miscellaneous services related to housing increased by 0.2 percent, while electricity, gas, and fuel prices rose by 0.3 percent. 

Another key driver in September was the food and beverages sector, which increased by 1.9 percent. This section saw a 12.2 percent rise in vegetable prices, a 3.5 percent increase in fruits, and a 0.3 percent rise in meat and poultry expenses. 

The alcoholic beverages and tobacco segment witnessed a monthly rise of 0.8 percent, while the health care sector saw an increase of 0.4 percent. 

Within healthcare, outpatient service costs climbed 0.8 percent in September compared to the previous month, while hospital expenses rose 1 percent over the same period. 

On an annual basis, alcoholic beverages and tobacco prices surged 25.3 percent, followed by housing, water, electricity, and fuel, which went up 18.2 percent. 

The food and beverages category recorded a 0.3 percent increase year on year, while clothing and footwear costs advanced 14.4 percent during the same period. 

In February, global credit rating agency Moody鈥檚 affirmed Egypt鈥檚 Caa1 long-term foreign and local currency rating with a positive outlook. 

It stated that the positive outlook reflected the government鈥檚 measures to control inflation and interest rates. 

Earlier this month, Egypt鈥檚 Central Bank slashed interest rates by 100 basis points, marking the fourth reduction this year, citing subdued inflationary pressures amid economic growth of about 5 percent in the second quarter.