海角直播

海角直播 sees 45% annual growth in domestic flight bookings: report聽

海角直播 sees 45% annual growth in domestic flight bookings: report聽
Family and group travel have been key contributors to this upward trend. Shutterstock
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Updated 07 January 2025

海角直播 sees 45% annual growth in domestic flight bookings: report聽

海角直播 sees 45% annual growth in domestic flight bookings: report聽
  • Domestic room night bookings also saw 39% yearly growth
  • Cities such as Makkah, Riyadh, Jeddah, Al-Khobar, and Madinah remain key attractions

RIYADH: 海角直播 recorded a 45 percent annual growth in domestic flight bookings in 2024, fueled by the Kingdom鈥檚 expanding tourism offerings and increased connectivity through low-cost carriers.聽

According to Almosafer鈥檚 latest travel trend report, domestic room night bookings also saw 39 percent yearly growth. Additionally, combined domestic flight and hotel reservations contributed over 40 percent to the overall travel market, an 11 percent yearly increase.聽

The growth in domestic travel is largely driven by a broader range of destinations, accommodation options, and experiences that continue to attract leisure visitors to explore their home country. Family and group travel have been key contributors to this upward trend, with bookings in these segments surging by over 70 percent.

Commenting on the trends, Muzzammil Ahussain, CEO of Almosafer, said: 鈥淭hese travel trends align seamlessly with the government鈥檚 vision to enhance in-destination value and increase domestic tourism as part of Vision 2030.鈥

Cities such as Makkah, Riyadh, Jeddah,聽Al-Khobar, and Madinah聽remain key attractions.聽

However, emerging destinations like Abha, Al Jubail, and Jazan, as well as Tabuk and Hail, are gaining momentum due to their distinct offerings, including mountain views, beaches, landscapes, and desert experiences.聽

鈥淭he growth of domestic tourism and the rise of family and group trips, with a focus on unique accommodation experiences and rich in-destination activities, showcase the success of the national agenda of building a thriving leisure tourism sector that contributes significantly to the economy,鈥 Ahussain added.

Almosafer鈥檚 report highlights a notable shift in traveler preferences for accommodations. While luxury remains prominent, with 36 percent of room nights booked in five-star properties, budget-friendly stays in three-star or lower hotels now represent 35 percent of total bookings 鈥 a segment that has grown 100 percent for families and groups.聽

Alternative accommodations such as vacation rentals and hotel apartments have also gained traction, with family bookings rising 90 percent and group reservations increasing 60 percent, reflecting growing demand for flexible and affordable lodging options.聽

Low-cost airlines have also played a crucial role in the domestic travel boom. Increased capacity, expanded connectivity, and additional routes have made budget carriers more accessible to cost-conscious travelers.聽

While flight bookings grew by 45 percent, the average order value decreased by 7 percent, demonstrating how expanded options are enabling travelers to secure more cost-effective deals.聽

In-destination activities have become a cornerstone of travel value, with visitors increasingly opting for guided tours, adventure sports, and cultural experiences.聽

Booking behavior also evolved in 2024, with mobile platforms dominating the market. App bookings grew by 67 percent and accounted for 76 percent of total bookings, while web reservations contributed 17 percent, reflecting 7 percent growth.聽

Retail bookings, though representing a smaller 7 percent share, remain relevant for complex and higher-value itineraries as travelers seek in-person assistance for personalized planning.聽

Flexible payment options have further transformed the travel market. Buy now, pay later plans have gained popularity, while Apple Pay accounted for 44 percent of all domestic bookings processed in 2024, reflecting the growing adoption of digital payment methods.聽


Building Arabic AI from the ground up

Building Arabic AI from the ground up
Updated 25 September 2025

Building Arabic AI from the ground up

Building Arabic AI from the ground up
  • From language depth to data security, regional AI must reflect local values, priorities

ALKHOBAR: When 海角直播 unveiled Allam, its homegrown Arabic large language model, it sent a clear signal: the Kingdom is no longer content to simply consume global AI technologies. 

It intends to build its own. For many, this was a moment of pride 鈥 a proof that the Arab world can produce tools designed to understand its own languages, cultures, and contexts.

But experts caution that Allam is only the first step in a much longer journey. Success will not be determined by the models alone, but by the invisible foundations that support them: data, infrastructure, governance, and trust.

鈥淵ou can鈥檛 capture the intent, emotion, and cultural depth of Arabic through translation,鈥 said David Barber, director of the UCL Centre for Artificial Intelligence and Distinguished Scientist at UiPath. 鈥淵ou need systems that think in Arabic from the ground up.鈥

David Barber, director, UCL Centre for Artificial Intelligence; distinguished scientist at UiPath. (Supplied)

Barber highlights a stark reality: only about 15 percent of Arabic text online is clean enough for training a large language model, compared with over 50 percent for English 鈥 a huge head start for models like GPT or Claude. Complicating matters further are Arabic鈥檚 complex grammar, diverse dialects, and the common mixing of English and Arabic in a single sentence.

鈥淲hen you train on noisy or shallow data, the system learns shortcuts,鈥 Barber explained. 鈥淚t can mimic fluency, but it misses the depth, the idioms, the cultural nuances, the rhythm of thought that makes Arabic distinct.鈥

For Barber, this underscores the importance of 海角直播鈥檚 push for locally sourced, high-quality datasets. Without them, any Arabic LLM risks becoming a shallow copy of English-language AI: competent at generic tasks but unable to capture the soul of the language it claims to represent.

Even the best data is ineffective if it cannot be properly organized, secured, and delivered to the model. Seema Alidily, regional director at Denodo, said Gulf enterprises still face major challenges here.

鈥淲ithout localized infrastructure, AI systems risk misunderstanding user intent or producing irrelevant outputs,鈥 she said. 鈥淒ata virtualization is one of the few ways to unify governance and access across cloud and on-site systems without moving sensitive information.鈥

Seema Alidily, regional director, Denodo. (Supplied)

Practically, this means investing in platforms that can pull data from dozens of scattered sources 鈥 from ERP systems to IoT sensors鈥 and present it in a unified view for AI to use. In 海角直播, where Vision 2030 projects depend on massive, real-time datasets, this approach is critical, especially given strict regulations on handling citizen data.

Alidily warned that merely replicating Western infrastructure may not suffice. 鈥淚n the Gulf, centralized visibility and compliance must come first,鈥 she noted. 鈥淚t is not just a technical issue, it is about aligning with the legal, cultural, and regulatory expectations of the region.鈥

For Bader AlBahaian, country manager for 海角直播 at VAST Data, the stakes go beyond efficiency 鈥 they touch on independence and security.

鈥淚f we depend exclusively on external platforms, we risk importing their policies and their priorities, often at the expense of regional needs,鈥 he said.

Bader AlBahaian, country manager, 海角直播, VAST Data. (Supplied)

AlBahaian advocates for 鈥渟overeign-by-design鈥 systems: storage and compute architectures that keep sensitive data within national borders, encryption and access controls that satisfy local regulators, and AI models trained under rules set by the Kingdom rather than a foreign vendor.

鈥淚t is not just about where the data sits,鈥 he added. 鈥淚t is about who gets to define how it is used, who takes responsibility when something goes wrong, and who has the power to switch the system off if necessary.鈥

This question of sovereignty is becoming urgent as AI begins to shape decisions in finance, healthcare, education, and public policy. A misaligned model trained on foreign data could issue recommendations that contradict local priorities 鈥 or worse, expose the region to economic or political risks.

But building perfect infrastructure is only half the challenge. Success ultimately depends on how AI is deployed.

鈥淒igital labor will allow businesses to have much deeper relationships with their customers,鈥 said Ibrahim Alseghayr, managing director of Salesforce 海角直播. 鈥淎nd by taking on so much of the routine work, AI frees humans to focus on collaboration, creativity, and critical thinking.鈥

Ibrahim Alseghayr, managing director of Salesforce 海角直播. (Supplied)

Alseghayr points to Agentic AI 鈥 systems that can act on a company鈥檚 behalf 鈥 as already transforming service centers, financial operations, and citizen engagement platforms. In 海角直播, he sees huge potential for digital labor in scaling mega-projects like Neom, automating logistics networks, and delivering smarter healthcare services.

He cautioned that this transformation must be carefully managed. 鈥淲e need strong governance, testing environments, and continuous oversight,鈥 he said. 鈥淥therwise, we risk building tools we do not fully understand, and that could erode trust instead of building it.鈥

Across all four experts, one theme is clear: global rules and imported frameworks will not suffice. The Arab world must craft its own AI governance models, rooted in its cultural and legal realities.

For Barber, Allam is a test case. 鈥淭his is the Kingdom鈥檚 chance to prove that it can build systems that are not only technically powerful but also aligned with its values,鈥 he added.

DID YOU KNOW?

鈥 Arabic鈥檚 complex grammar, dialect diversity, and frequent English鈥揂rabic mixing make it one of the hardest languages for AI to master. 

鈥 海角直播鈥檚 Allam is the first homegrown Arabic large language model, designed to think in Arabic rather than translate from English. 

鈥 Vision 2030 projects depend on real-time data, but regulations require strict handling of citizen information.

鈥淎gentic AI can create personalized treatment plans, autonomously monitor patients, and detect early signs of health deterioration before a doctor ever enters the room,鈥 he said.Alidily agrees, emphasizing that governance frameworks must reflect the Gulf鈥檚 unique data protection requirements, with regulators working closely with technology providers to define shared standards.

AlBahaian is even more direct. 鈥淭rust is earned through systems, not slogans. People need to know where their data is, who is using it, and for what purpose. That is the only way to build confidence at scale.鈥

The message is clear: Arabic AI鈥檚 future will not be decided by model size alone. It will depend on investments in infrastructure, sovereignty, and governance.

海角直播 has taken the first step with Allam. What comes next 鈥 the data pipelines, virtualized infrastructure, sovereign controls, and digital labor deployments 鈥 will determine whether the Kingdom becomes a true AI creator or remains a buyer of foreign-built intelligence.

 


海角直播, China seal $1.74bn investment deals at Beijing forum聽

海角直播, China seal $1.74bn investment deals at Beijing forum聽
Updated 25 September 2025

海角直播, China seal $1.74bn investment deals at Beijing forum聽

海角直播, China seal $1.74bn investment deals at Beijing forum聽

JEDDAH: 海角直播 and China signed 42 investment agreements worth over $1.74 billion across advanced industries, smart vehicles, and energy.

The deals, which also covered medical devices, equipment, and mineral resources, were inked at the Saudi-Chinese Business Forum in Beijing, attended by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, as part of his official visit.

Organized by the Federation of Saudi Chambers, the forum gathered around 200 companies and public and private sector representatives from both countries, the Saudi Press Agency reported. 

This follows growing bilateral trade between 海角直播 and China, which surpassed SR403 billion ($107.5 billion) in 2024 鈥 more than doubling in less than a decade 鈥 driven by shared goals such as Saudi Vision 2030 and China鈥檚 Belt and Road Initiative. 

In a post on his X handle, Alkhorayef said: 鈥淒uring my participation in the Saudi-Chinese Business Forum in the capital, Beijing, I affirmed the strength of the partnership between our two friendly nations, and the Kingdom鈥檚 keenness to expand this partnership to support our goals in industry and mining, strengthen international supply chains, and enhance our presence as an economic force contributing to the growth of the global economy.鈥 

He noted 海角直播 remains a key supplier of fuel, petrochemicals, and advanced materials, while China is the largest source of machinery, electronics, transport equipment, and consumer goods, with trade increasingly diversifying into high-value industries. 

The minister highlighted that Chinese investment in 海角直播 grew about 30 percent in 2024, surpassing SR31 billion, with growth in mining, automotive manufacturing, and petrochemicals. More than 750 Chinese companies operate in the Kingdom, including investors in NEOM, Jubail Industrial City, and Jazan City for Primary and Downstream Industries.  

Conversely, Saudi investments in China exceed SR8 billion, alongside memorandums of understanding with Chinese financial institutions valued at $50 billion. 

Alkhorayef emphasized the alignment of Vision 2030 with the Belt and Road Initiative to enhance connectivity, expand trade, and build resilient industrial systems.  

He added that efforts are underway to establish new supply chain corridors linking Asia with the Middle East, Africa, and Europe, reinforcing 海角直播鈥檚 role as a global industrial and logistics hub. 


海角直播 freezes rents in Riyadh for 5 years聽

海角直播 freezes rents in Riyadh for 5 years聽
Updated 25 September 2025

海角直播 freezes rents in Riyadh for 5 years聽

海角直播 freezes rents in Riyadh for 5 years聽
  • Crown Prince Mohammed bin Salman directed that the measures be enforced as part of broader efforts to safeguard tenant and landlord rights
  • Freeze could be extended to other cities and regions

RIYADH: 海角直播 has enacted sweeping new regulations to stabilize rental prices in Riyadh, including a five-year freeze on increases for residential and commercial properties. 

The measures, approved by the Cabinet and enacted by a royal decree, are designed to address surging rents in the capital and restore balance to the property market. 

Effective Sept. 25, landlords will no longer be permitted to increase rental values in existing or new contracts within Riyadh鈥檚 urban boundaries for a period of five years, according to a report by the Saudi Press Agency. 

The General Real Estate Authority will also have the authority to extend the freeze to other cities or regions with the approval of the Council of Economic and Development Affairs. 

Crown Prince Mohammed bin Salman directed that the measures be enforced as part of broader efforts to safeguard tenant and landlord rights, strengthen transparency, and ensure fair competition in the rental market, while supporting sustainable urban development in Riyadh, according to SPA.

The news agency鈥檚 report stated: 鈥淭he General Authority for Real Estate has studied the procedures in accordance with the best international practices and experiences to regulate the relationship between the landlord and the tenant.鈥

Under the new framework, rents for vacant units that were previously leased will be fixed at the value of the last registered contract, while rents for properties that have never been leased will continue to be determined by agreement between landlord and tenant. 

All lease agreements must be registered on the government鈥檚 Ejar digital platform, with both landlords and tenants entitled to submit contracts for registration. The other party will have 60 days to object before the contract is considered legally valid. 

The regulations also establish automatic renewal for leases across the Kingdom unless one party gives at least 60 days鈥 notice before expiration. 

Contracts with less than 90 days remaining at the time of implementation are exempt, as are leases terminated by mutual agreement after the notice period. 

In Riyadh, landlords cannot refuse to renew a contract if the tenant wishes to continue occupancy, except in three cases: non-payment of rent, structural safety issues verified by an official technical report, or the landlord鈥檚 personal need for the unit or that of an immediate family member. 

The authority may also define additional exceptions in the future. 

Landlords may challenge fixed rental values in specific circumstances, including when substantial renovations have increased property value, when the last lease contract predates 2024, or in other cases approved by the authority. The body will establish mechanisms to review and decide on such objections. 

Violations of the new system will carry fines of up to 12 months鈥 rent for the affected unit, alongside requirements to correct the violation and compensate the injured party. 

Penalties will be determined by committees established under Article 20 of the Real Estate Mediation Law. Landlords and tenants found in violation may appeal decisions within 30 days to the competent judicial authority. 

Whistleblowers who are not directly involved in enforcement may also receive up to 20 percent of the collected fine if their information results in a confirmed violation, with distribution rules set by the authority. 

Where the new regulations do not provide explicit guidance, provisions of the Civil Transactions Law will apply. 

The Cabinet also retains the right to amend the rules based on recommendations from the Council of Economic and Development Affairs and future reports from the General Real Estate Authority. 

The authority has been tasked with monitoring compliance, publishing clarifications, and providing public education on the new rules. 

It will also deliver periodic reports on rental prices and market performance.


海角直播 pitches mining opportunities to French firms

海角直播 pitches mining opportunities to French firms
Updated 25 September 2025

海角直播 pitches mining opportunities to French firms

海角直播 pitches mining opportunities to French firms

JEDDAH: French companies were pitched investment opportunites in 海角直播鈥檚 mining sector as the Kingdom prepares to launch a competitive tender on Sept. 28 for 162 new mining exploration sites. 

Some 15 firms took part in a virtual seminar, where they heard about projects located in the Al-Naqrah and Sukhaybarah Al-Safra belts in the Madinah region, according to a press release from the Ministry of Industry and Mineral Resources. 

The plan is part of a broader effort to open more than 50,000 sq. km of mineralized belts to investors by 2025. 

The initiative reflects 海角直播鈥檚 drive to accelerate mineral exploration and attract diverse investment, leveraging the Kingdom鈥檚 mineral wealth 鈥 estimated at SR9.4 trillion ($2.5 trillion) 鈥 to boost non鈥憃il revenue alongside the oil and petrochemical sectors. It also aligns with Vision 2030 goals to develop the mining sector, maximize economic benefits, and establish mining as a third pillar of industry. 

In the press release, the ministry stated: 鈥淭he seminar highlighted the advanced infrastructure supporting mining projects, including transportation, communications, and logistics networks. This reduces the timeframe for implementing and operating mining projects and enhances the competitiveness and attractiveness of the mining investment environment in the Kingdom. 

The seminar also served as preparation for the Saudi-French Mining Day on Oct. 8 in Riyadh, organized in partnership with the French Embassy, as the Kingdom seeks to establish mining as a third industrial pillar under Vision 2030. 

It will underscore both nations鈥 commitment to advancing collaboration in critical minerals, technology transfer, and sustainable mining practices. 

The meeting follows Minister of Industry and Mineral Resources Bandar Alkhorayef鈥檚 visit to France in early May, where he held discussions with senior officials from several French companies, including the CEO of Orano Mining. 

The Paris visit focused on securing a stable supply of critical minerals, such as lithium and cobalt, essential to 海角直播鈥檚 green energy initiatives and the growing electric vehicle sector. 

Alkhorayef also met with France鈥檚 Interministerial Delegate for Strategic Minerals and Metals Supplies, Benjamin Gallezot, to explore ways to strengthen global supply chain resilience and promote sustainability in the mining sector. 


Saudi banks driving GCC surge in US dollar debt issuance to fuel Vision 2030 growth: Fitch

Saudi banks driving GCC surge in US dollar debt issuance to fuel Vision 2030 growth: Fitch
Updated 25 September 2025

Saudi banks driving GCC surge in US dollar debt issuance to fuel Vision 2030 growth: Fitch

Saudi banks driving GCC surge in US dollar debt issuance to fuel Vision 2030 growth: Fitch

RIYADH: 海角直播鈥檚 banking sector is leading a shift in Gulf financing, driving a surge in US dollar-denominated subordinated debt to fund rapid credit growth and ambitious national projects, a new analysis showed. 

Fitch Ratings said Saudi banks are at the forefront of this regional trend, which is expected to continue into 2026 amid rising capital needs and tighter regulatory requirements. 

As the Saudi government pushes ahead with multi-trillion-dollar Vision 2030 initiatives, banks are turning to global US dollar markets to raise crucial capital, boosting issuance of complex, high-yield subordinated bonds. 

So far in 2025, Gulf Cooperation Council banks have issued over $55 billion in US dollar debt, already surpassing 2024鈥檚 total of $36 billion. 鈥淥ver half ($29.3 billion) is from Saudi banks, including $11.7 billion in additional Tier 1 (AT1) and Tier 2 capital,鈥 the agency said. 

Subordinated debt now accounts for over 70 percent of Saudi banks鈥 dollar issuance, up from about 50 percent in 2024, reflecting a move toward riskier instruments that strengthen banks鈥 capital bases. 

Fitch cited several drivers behind the surge. Saudi banks are experiencing the strongest credit growth in the GCC, projected at 12 percent in 2025. This lending boom, which finances large-scale Vision 2030 projects, is outpacing deposit growth and gradually eroding capital buffers. 

鈥淪trong financing growth is outpacing deposit growth and has eroded capital buffers in recent years. The sector common equity Tier 1 (CET1) ratio decreased by 213bp over 2020-2024,鈥 the report noted. 

Upcoming regulatory changes 鈥 including a 1 percent countercyclical buffer from May 2026 and tighter interest-rate risk rules 鈥 are expected to add further pressure on capital ratios.

Additionally, financing major Vision 2030 projects carries higher risk weightings under Basel III rules, further straining core capital. 

While AT1 instruments continue to dominate non-core capital markets, Saudi banks are also diversifying. They have issued nearly $6 billion in Tier 2 debt in 2025, helping balance their capital structure and attract a broader base of international investors. 

Fitch expects issuance momentum to continue into 2026, supported by over $10 billion of maturing debt that needs refinancing, ongoing financing demand, and anticipated lower interest rates.

About $1.8 billion of AT1 instruments reaching their first call date next year are also expected to be redeemed under favorable market conditions. 

Fitch Ratings had predicted that GCC banks are set to exceed $60 billion of US dollar debt issuance in 2025, and $40 billion excluding certificates of deposit, surpassing the record levels of 2024. 

In a report released earlier this month, the agency said the surge is driven by heightened maturities, strong credit growth and favorable financing conditions.