ֱ

Abu Dhabi Airports sees 13% rise in passenger numbers despite airspace disruptions

Abu Dhabi Airports sees 13% rise in passenger numbers despite airspace disruptions
This increase in passenger traffic was accompanied by 133,533 total flights across the five airports in the first half of 2025. Getty
Short Url
Updated 21 sec ago

Abu Dhabi Airports sees 13% rise in passenger numbers despite airspace disruptions

Abu Dhabi Airports sees 13% rise in passenger numbers despite airspace disruptions

JEDDAH: Abu Dhabi Airports handled more than 15.8 million passengers in the first half of 2025, up 13.1 percent from the previous six months, despite regional airspace disruptions. 

Zayed International Airport, the UAE’s second-largest air base and a key international hub connected to over 120 passenger destinations, played a central role in the surge. It recorded 15.5 million passengers by the end of June — a 13.2 percent year-on-year increase, according to the UAE’s official news agency WAM. 

The government-owned operator showed resilience, maintaining steady growth in both passenger traffic and flight movements despite regional disruptions caused by a 12-day conflict between Israel and Iran. The unrest led to airspace closures across the Gulf, including the UAE, resulting in flight suspensions and rerouting. 

Elena Sorlini, managing director and CEO at Abu Dhabi Airports, said: “Consistently delivering positive growth for the past 17 quarters is testament to the dedication and collective effort of the entire Abu Dhabi Airports team.” 

She added: “It reflects our operational agility and commitment to delivering an exceptional aviation experience and attracting international investors.” 

This increase in passenger traffic was accompanied by 133,533 total flights across the five airports in the first half of 2025, marking a 9.2 percent rise compared to the same period last year, according to the WAM report. 

Zayed International Airport recorded 93,858 aircraft movements during the first half, up 11.4 percent from 84,286 flights in the first six months of 2024. 

Etihad Airways temporarily halted some regional flights amid the tensions. Meanwhile, Wizz Air recently announced plans to exit Abu Dhabi from Sept. 1, citing geopolitical instability and airspace restrictions. 

Abu Dhabi Airports pushed ahead with network expansion, introducing 16 new destinations and onboarding several new airline partners in the first half of the year. 

These include China Eastern Airlines’ four-times-weekly Shanghai service, which will become daily in September; Air Seychelles’ six weekly flights; and Fly Cham’s route to Damascus. 

Indian carrier IndiGo also added new services to Madurai, Bhubaneswar, and Visakhapatnam, making Zayed International its most connected hub in the UAE. 

Cargo volumes also rose, reaching 344,795 tonnes in the first half of the year, supported by infrastructure upgrades and growing trade flows through the emirate.


Kuwait economy rebounds in Q1 with 1% growth 

Kuwait economy rebounds in Q1 with 1% growth 
Updated 46 sec ago

Kuwait economy rebounds in Q1 with 1% growth 

Kuwait economy rebounds in Q1 with 1% growth 

RIYADH: Kuwait’s economy returned to positive territory in the first quarter of 2025, recording a 1 percent year-on-year increase in real gross domestic product, according to a report from the National Bank of Kuwait. 

The rebound marks the end of seven consecutive quarters of contraction, driven primarily by a gradual recovery in the non-oil sector. 

The bank’s analysis noted that the non-oil economy continued to expand, supported by sustained momentum in manufacturing, real estate, and transportation sectors, while the impact of previous oil production cuts has begun to fade.

In parallel, Kuwait’s oil production began increasing in April, adding 135,000 barrels per day, which is expected to benefit the overall economy in the coming months despite still-muted gains from the oil sector. 

The growth comes as the World Bank and the International Monetary Fund project that the GCC economy will grow by around 3.2–3.5 percent in 2025, supported by the rollback of OPEC+ production cuts and ongoing efforts to diversify the economy, despite global headwinds.

NBK’s analysis stated: “With the negative effects of earlier voluntary oil production cuts beginning to fade, oil GDP recorded only a marginal decline, the softest since Q2 2023.” 

Growth in Kuwait’s non-oil sector slowed to 2 percent year-on-year in the first quarter of 2025, down from 4 percent in the previous quarter, reflecting a moderation in manufacturing activity. 

Meanwhile, the oil sector contracted by 5.7 percent year on year, compared to a 0.3 percent contraction in the same period of 2024.

Average oil output in the first quarter declined to 2.4 million bpd, an annual drop of 0.7 percent.

However, NBK’s report pointed to a likely improvement starting in the second quarter of this year, as Kuwait began unwinding OPEC+ production cuts in April, which could raise output to 2.2 million bpd. 

“Originally planned to be unwound over the course of 18 months, OPEC+ has accelerated the pace of supply hikes with output now on a path to be fully restored in September, a full year ahead of schedule,” the report stated. 

This, combined with ongoing support for non-oil activity and the implementation of key public investment projects, is expected to help stabilize GDP growth. 

Across the Gulf region, the economic performance in the first quarter of 2025 also showed broad strength. 

ֱ reported a robust 3.4 percent year‑on‑year rise in GDP, driven by a 4.9 percent expansion in non‑oil activities, while oil output fell slightly by 0.5 percent, according to GASTAT. 

The UAE’s non-hydrocarbon economy continued to drive growth, supporting full-year GDP forecasts of around 4.4 percent, underpinned by steady oil output and surging sectors of services, construction, and trade.

CPI up

Consumer prices in Kuwait rose in June, with the Consumer Price Index increasing by 0.29 percent from the previous month to 136.9. 

On an annual basis, inflation reached 2.32 percent compared with June 2024. The food and beverage group recorded the highest annual increase at 5.11 percent, driven by rising costs across categories including cereals, meat, dairy products, and vegetables. 

Other notable annual increases included clothing and footwear with 3.93 percent, miscellaneous goods and services with 4.80 percent, and health at 2.94 percent. 

Conversely, the transportation group recorded a decline of 1.81 percent year on year. 


Apple launches online store in ֱ with Arabic support, local delivery

   Apple launches online store in ֱ with Arabic support, local delivery
Updated 22 July 2025

Apple launches online store in ֱ with Arabic support, local delivery

   Apple launches online store in ֱ with Arabic support, local delivery
  • Kingdom becomes 40th country to access Apple’s online retail services 
  • It will be the first fully Arabic Apple Store online  

RIYADH: US tech giant Apple has launched its online store and Apple Store app in ֱ, offering next-day delivery and, for the first time, direct Arabic-language support.  

“This launch will make the 40th country and territory around the world with an Apple Store online,” Karen Rasmussen, Apple’s head of Online Retail, said.  

“It is going to be our first Apple Store online fully in Arabic,” she added.   

Karen Rasmussen, Apple’s head of Online Retail. Supplied

Originally launched in 1997, Apple’s online store has since expanded to over 40 countries and territories worldwide. 

Starting July 22, customers in ֱ can shop for Apple products online through the website or the app, with the promise of faster delivery, new customization options, and local-language support.  

The site offers Arabic and English customer service, flexible payment options, and product personalization. 

The Apple executive noted that most orders will be delivered the next day.  

“We built a distribution center in the Kingdom of ֱ to be able to support all of our customers in the fastest possible way,” Rasmussen told Arab News.   

Free engraving is now available in both Arabic and English, allowing customers to personalize products such as AirPods, Apple Pencil, and AirTag with text, emoji, and numbers. 

The company has partnered with Saudi-based buy-now-pay-later platform Tamara to offer customers the ability to pay in four monthly installments at zero percent interest. 

Apple is also introducing Arabic-language, in-country shopping assistance. 

The site offers Arabic and English customer service, flexible payment options, and product personalization. Supplied

“We will provide in-country, in-Arabic shopping support, where a specialist is trained exactly the same way as any Apple specialist, whether online or in the store,” she said.  

Hardware support and express replacement services will also be available in Arabic through the new online platform. 

AppleCare+ has been updated to allow customers to subscribe on a monthly basis, rather than making a single annual payment.  

Another addition is Apple Trade In, which enables Saudi customers to exchange their current Apple devices for credit toward new purchases.  

The Apple Education Store will also be accessible through the online platform, offering special pricing on Macs and iPads for university students, educators, and their families.   

“All year long, we offer special education discounts for verified students and educators,” Rasmussen explained.  

Additionally, a back-to-school offer valid until Oct. 21 will give eligible buyers the option to receive AirPods or another accessory when purchasing an eligible Mac or iPad. 

However, the long-awaited question on the minds of Apple device users in ֱ is: When will there be a physical store in the Kingdom? 

The company confirmed plans to open its first flagship Apple Store in ֱ in 2026.  

 “We absolutely have plans to open stores in the country as well, starting in 2026,” she said. 

“My favorite store, which is coming a little after that, is going to be the one we are planning in Diriyah,” added Rasmussen. 

Apple is currently in the early planning stages for a second store in Diriyah, a UNESCO World Heritage site.  

When asked about the first physical store’s location, Rasmussen said: “It’s a subsequent store... We have been partnering very particularly on the Diriyah site, but it’s not going to be the first one,” she told Arab News. 

“The investment in ֱ is something that Apple has been very focused on for a very long time,” Rasmussen stated. 

“This is just one step in a broader journey of long-term investment in the Kingdom.” 

“Up until now, for the past five years, we have spent more than SR10 billion ($2.67 billion) in development initiatives such as the Apple Developer Academy,” the head of online retail told Arab News.  


Oil Updates — prices fall as trade war concerns increase worries about fuel demand

Oil Updates — prices fall as trade war concerns increase worries about fuel demand
Updated 22 July 2025

Oil Updates — prices fall as trade war concerns increase worries about fuel demand

Oil Updates — prices fall as trade war concerns increase worries about fuel demand

SINGAPORE: Oil prices declined on Tuesday amid concerns the brewing trade war between major crude consumers, the US and the EU, will curb fuel demand growth by lowering economic activity.

Brent crude futures were down 28 cents, or 0.40 percent, to $68.93 a barrel at 8:58 Saudi time. US West Texas Intermediate crude was at $66.83 a barrel, down 37 cents, or 0.55 percent. Both benchmarks settled slightly lower on Monday.

The August WTI contract expires on Tuesday, and the more active September contract was down 29 cents, or 0.44 percent, to $65.66 a barrel.

“Broad demand concerns continue to simmer amid escalating global trade tensions, especially as markets eye the latest tariff threats between major economies and Trump’s potential announcements ahead of the August 1 deadline,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.

“Investors are also eyeing the ripple effects of fresh US sanctions on Russian crude,” she added.

Supply concerns have largely been alleviated by major producers raising output, and since a ceasefire on June 24 ended the conflict between Israel and Iran. However, investors are increasingly worried about the global economy amid US trade policy changes.

A weaker US dollar has provided some backing for crude as buyers using other currencies are paying relatively less.

Prices have slipped “as trade war concerns offset the support by a softer (US dollar),” IG market analyst Tony Sycamore wrote in a note.
Sycamore also pointed to the possibility of an escalation in the trade dispute between the US and the EU over tariffs.

The EU is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. The US has threatened to impose a 30 percent tariff on EU imports on Aug. 1 if a deal is not reached.

There are also signs that rising oil supply has entered the market as the Organization of the Petroleum Exporting Countries and its allies unwind output cuts.

ֱ’s crude oil exports in May rose to their highest in three months, data from the Joint Organizations Data Initiative showed on Monday. 


Foreign startup registrations in ֱ rise 118% 

Foreign startup registrations in ֱ rise 118% 
Updated 21 July 2025

Foreign startup registrations in ֱ rise 118% 

Foreign startup registrations in ֱ rise 118% 

RIYADH: ֱ’s Ministry of Investment has granted 550 foreign new ventures the Startup Investment Registration, known as the Riyadi license, as of mid-2025, marking an annual rise of 118 percent. 

The Small and Medium Enterprises General Authority, known as Monshaʾat, has issued 364 licenses to business incubators and accelerators nationwide, according to a report by the body. 

Monshaʾat said these entities provide facilities for prototype development, mentorship, and connections to investors and commercial partners. 

The increase in Riyadi registrations aligns with the Kingdom’s surge in venture capital activity. 

According to regional platform MAGNiTT, ֱ led MENA VC funding in the first half of 2025, with $860 million raised, representing a 116 percent annual increase across 114 deals. This marked a 31 percent rise in deal count compared to the same period in 2024. 

This momentum built on a record 2024 performance, when startups in the Kingdom secured $750 million in funding and saw a 34 percent increase in early- and mid-stage “MEGA” rounds below $100 million.  

“This increase forms part of joint national efforts to reinforce the Kingdom’s role as a regional hub for entrepreneurship by streamlining market access for foreign startups and establishing a flexible regulatory environment that supports innovation and attracts investment,” Monsha’at’s report said. 

According to the Ministry of Investment, this trend reflects growing international interest in ֱ’s investment environment, underpinned by recent legislative changes, expanded digital infrastructure, and a range of support programs introduced in line with the objectives of Vision 2030. 

Saudi organizers have hosted international startup events, including Biban and LEAP, which feature presentations on the local ecosystem and investment opportunities. 

Government agencies and private-sector representatives have attended overseas gatherings, such as the Web Summit, VivaTech, and Slush, to facilitate networking with foreign entrepreneurs and promote the Kingdom as a potential base for regional operations. 

In addition to the Riyadi permit, the Ministry of Investment will issue a full suite of eight sector-specific business licenses, designed to accommodate virtually any foreign investor’s needs. 

These include service licenses, which permit 100 percent foreign ownership for activities such as IT, consulting, marketing, and hospitality; entrepreneurial authorizations that offer streamlined fees and access to government-led support for startups; and industrial licenses for establishing manufacturing facilities. 

Specialized agricultural permits cover crop cultivation and animal husbandry, while trade licenses authorize wholesale, retail and import-export operations. 

Additional categories encompass real estate licenses for development and brokerage projects, professional permits for individual practitioners and solidarity firms, and mining licenses for exploration and extraction activities. 

Each permit carries tailored minimum-capital requirements and documentation processes, but all are obtainable through MISA’s online portal, which centralizes application, approval and renewal under a unified regulatory framework. 


Closing Bell: Saudi main market closes in green with 10,981 points

Closing Bell: Saudi main market closes in green with 10,981 points
Updated 21 July 2025

Closing Bell: Saudi main market closes in green with 10,981 points

Closing Bell: Saudi main market closes in green with 10,981 points
  • MSCI Tadawul 30 Index gained 0.27% to finish at 1,408.88
  • Parallel market Nomu slipped 0.30% to close at 27,080.02

RIYADH: ֱ’s Tadawul All Share Index closed higher on Monday, rising 16.46 points, or 0.15 percent, to end the session at 10,981.17.

The total trading value on the main market reached SR4.3 billion ($1.1 billion), with 95 stocks advancing and 148 declining. 

The MSCI Tadawul 30 Index also rallied, adding 3.86 points, or 0.27 percent, to finish at 1,408.88. 

The Kingdom’s parallel market Nomu slipped 82.58 points, or 0.30 percent, to close at 27,080.02. Of the listed stocks, 38 gained while 44 fell. 

The best-performing stock on the main market was SHL Finance Co., whose shares jumped 10 percent to SR23.87. 

Other notable gainers included Salama Cooperative Insurance Co., up 5.58 percent to SR13.62, Miahona Co. Limited, which gained 5.23 percent to SR26.94, Alamar Foods Co., rising 5.17 percent to SR53.95, and Fawaz Abdulaziz Alhokair Co., which climbed 4.92 percent to SR31.16. 

On the downside, Sahara International Petrochemical Co. posted the steepest drop of the day, falling 5.69 percent to SR17.90.  

Saudi Azm for Communication and Information Technology Co. declined 5.42 percent to SR 28.60, Alistithmar AREIC Diversified REIT Fund slipped 4.92 percent to SR 8.70, Wafrah for Industry and Development Co. fell 4.63 percent to SR27.20, and Riyadh Cables Group Co. dropped 4.13 percent to SR130. 

On the announcement front, Sports Clubs Co. is set to make its trading debut on ֱ’s main market on July 22. 

The listing follows an initial public offering in which Sports Clubs floated 34.32 million shares, representing 33 percent of its issued capital, at a nominal value of SR1 each.  

Demand saw the individual tranche oversubscribed by 5.3 times, with investors guaranteed a minimum allotment of ten shares. 

To help stabilize the share price in early trading, the bourse has set a plus or minus 30 percent daily price limit and a 10 percent static limit. 

Founded in 1994, Sports Clubs operates a network of 56 branches across 18 Saudi cities.  

Its portfolio includes 41 Body Masters men’s gyms, a brand established decades ago, and 15 Body Motions women’s clubs, introduced four years ago as part of the company’s gender-segmented expansion strategy.