Oman's Abraj expects revenue of $559mln from PDO rigs contract
Mobilisation will be carried out in stages starting in the fourth quarter of 2026, the company said in a statement to the Muscat Stock Exchange.
Each rig has a firm six-year duration.
The total expected revenue is OMR 215 million ($559.16 million), the statement said.
Last month, the company signed a term sheet with Algeria's state-owned oil company Sonatrach to establish a joint venture specialising in integrated oilfield services (drilling, workover and well services).
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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Crypto Insight
28 minutes ago
- Crypto Insight
How to book a flight with crypto in the UAE: Step-by-step guide
Airlines and travel agencies, including Emirates, Air Arabia, Travala and Alternative Airlines, now support cryptocurrency payments for bookings, targeting tech-savvy travelers and digital nomads. Travelers can pay with Bitcoin, Ether, stablecoins and other digital assets via checkout or gift cards, depending on the platform. The UAE's initiatives, such as Dubai's Virtual Assets Regulatory Authority (VARA), could help expand crypto-powered services like flight tickets and loyalty programs. Travelers should monitor exchange rates, choose regulated platforms and maintain transaction records for a smooth booking experience. The United Arab Emirates has emerged as a torchbearer in cryptocurrency adoption, with travel being the latest sector to embrace this trend. In July 2025, Emirates signed an agreement with to allow passengers to pay for flights and in-flight purchases using cryptocurrencies. The move reflects the UAE's efforts to attract tech-savvy tourists, digital nomads and residents who value secure and flexible payment options. As more travelers choose to pay with digital currencies, integration of cryptocurrencies such as Bitcoin, Ether, Tether, USDt and more. This article briefs you about platforms enabling you to purchase crypto flight bookings. It explains the step-by-step process to make these bookings and provides tips for making an optimum deal. Platforms in the UAE that accept flight bookings The UAE has set up an advanced financial ecosystem with regulations supporting crypto. The aviation and travel industries are also part of this trend, and you can book flights with cryptocurrency with several airlines and travel agencies. Here is a review of key platforms and agencies accepting cryptocurrencies with flight bookings, comparing their fees, supported digital currencies and overall user experience. Emirates Airlines Overview: Emirates, the UAE's flagship airline, has collaborated with to enable cryptocurrency payments through Pay, scheduled to launch in 2026. Emirates, the UAE's flagship airline, has collaborated with to enable cryptocurrency payments through Pay, scheduled to launch in 2026. Supported cryptocurrencies: BTC, ETH, Cronos and stablecoins like USDT and USDC, with plans to support over 30 currencies. BTC, ETH, Cronos and stablecoins like USDT and USDC, with plans to support over 30 currencies. Availability: Payments will cover flights and extra services across Emirates' routes, such as upgrades and duty-free items. Air Arabia Overview: Air Arabia, a Dubai-listed budget airline, accepts AE Coin, a dirham-backed stablecoin, for bookings. Using one stablecoin simplifies payments for local users familiar with digital AED. Air Arabia, a Dubai-listed budget airline, accepts AE Coin, a dirham-backed stablecoin, for bookings. Using one stablecoin simplifies payments for local users familiar with digital AED. Supported cryptocurrencies: AE Coin only; AE Coin is a stablecoin issued by AED Stablecoin. AE Coin only; AE Coin is a stablecoin issued by AED Stablecoin. Availability: Bookings are available across Air Arabia's Middle East, North Africa and Asia networks. Did you know? In 2014, Latvian airline airBaltic became the world's first airline to accept Bitcoin for flight bookings. This move paved the way for global carriers like Emirates and platforms such as Travala to integrate cryptocurrency payments. Travala Overview: A blockchain-based booking platform covering flights, hotels and experiences, popular in the UAE for its extensive crypto support. A blockchain-based booking platform covering flights, hotels and experiences, popular in the UAE for its extensive crypto support. Supported cryptocurrencies: BTC, ETH, USDT, USDC, BNB and AVA (Travala's token). BTC, ETH, USDT, USDC, BNB and AVA (Travala's token). Availability: Global travel services. Alternative Airlines Overview: This online travel agency allows bookings with over 650 airlines, including Emirates and Etihad, and is a favorite among crypto users. This online travel agency allows bookings with over 650 airlines, including Emirates and Etihad, and is a favorite among crypto users. Supported cryptocurrencies: BTC, ETH, XRP, Litecoin, Cardano, Dogecoin, USDT and more. BTC, ETH, XRP, Litecoin, Cardano, Dogecoin, USDT and more. Availability: Offers global bookings, including those of UAE-based airlines. Destinia Overview: A worldwide travel agency supporting crypto for flights, hotels and car rentals, offering flexible payment options for UAE travelers. A worldwide travel agency supporting crypto for flights, hotels and car rentals, offering flexible payment options for UAE travelers. Supported cryptocurrencies: BTC, ETH, USDT and other major cryptocurrencies. BTC, ETH, USDT and other major cryptocurrencies. Availability: Global bookings, including UAE-based airlines. How to make a crypto payment for booking a flight Airlines in the UAE don't take direct crypto payments; instead, they collaborate with a crypto service provider to facilitate crypto payments for them. You can make a crypto payment via the checkout or a gift card. Via checkout: To use cryptocurrency at checkout, choose the crypto payment option on the booking platform. This method is simple, secure and supported by many travel agencies and airlines. To use cryptocurrency at checkout, choose the crypto payment option on the booking platform. This method is simple, secure and supported by many travel agencies and airlines. Via gift card: Some platforms allow indirect crypto payments through digital gift cards. Purchase a travel gift card and apply the gift card balance to your booking as a payment code or credit. Did you know? Travala reported a 46% increase in crypto bookings from January 2023 to January 2024. This surge reflects a growing demand among travelers seeking flexible, borderless payment options while bypassing hefty credit card fees and traditional banking hurdles. Step-by-step guide for booking a flight via checkout with crypto payment Here is a guide on how to book a flight via checkout with crypto payment. The guide uses Travala for illustrative purposes. Step 1) Choose a crypto-friendly travel platform: Select a platform that supports cryptocurrencies for booking flights in the UAE. Select a platform that supports cryptocurrencies for booking flights in the UAE. Step 2) Select flight details: Enter your destination, travel dates and preferences on the platform. Filter options to find the best flight for your needs. Step 3) Proceed to payment and select the cryptocurrency option: At checkout, choose the cryptocurrency payment option from the available methods. Travala, for instance, offers options like cryptocurrency transfer, and Binance Pay. Step 4) Connect crypto wallet: Select the appropriate crypto payment tab and tap 'Complete reservation.' In the case of Travala, you could tap Cryptocurrency Transfer, or Binance Pay and initiate the payment process. Step 5) Authorize payment: Log in to your crypto wallet, verify the amount and authorize the transaction securely to confirm payment. To authorize, you could use the notification sent to your wallet or scan a QR code shared by the agency or airlines using your wallet. Log in to your crypto wallet, verify the amount and authorize the transaction securely to confirm payment. To authorize, you could use the notification sent to your wallet or scan a QR code shared by the agency or airlines using your wallet. Step 6) Receive e-ticket: Receive your e-ticket via email or on the platform. Tips for flight booking with cryptocurrencies Using cryptocurrency to pay for flights is convenient, but taking certain precautions ensures a smooth and worry-free experience. Consider the following before finalizing your booking: Review transaction fees and exchange rates: Check the costs of a cryptocurrency transaction and compare them to traditional payment options. Check the costs of a cryptocurrency transaction and compare them to traditional payment options. Ensure platform reliability and security: Select airlines or agencies that use trusted, regulated payment gateways for secure transactions. Select airlines or agencies that use trusted, regulated payment gateways for secure transactions. Track cryptocurrency market fluctuations: Make payments when prices are stable to avoid unexpected expenses due to volatility. Make payments when prices are stable to avoid unexpected expenses due to volatility. Maintain transaction records: Keep copies of receipts, blockchain transaction IDs and booking confirmations for reference in case of refunds or disputes. Did you know? Many service providers prefer stablecoins like USDT and USDC over BTC or ETH. Stablecoins reduce volatility risks and settle quickly, offering a reliable alternative to traditional payments. Future of cryptocurrency in UAE air travel The UAE swiftly adopted cryptocurrency in its travel industry, focusing on digital innovation. Major airlines and platforms, such as Emirates, Air Arabia, Travala and Alternative Airlines, now accept crypto payments, promising greater convenience for travelers. With a regime that supports crypto enterprises, acceptance of crypto is sure to grow. Steps like Dubai's Virtual Assets Regulatory Authority (VARA) reflect the UAE's commitment to deeper crypto integration with various life activities. 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Gulf Business
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Napster Corp's Sam Huber on how immersive tech is impacting the future of education
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Gulf Business
2 hours ago
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From dishwasher to dealmaker: Haitham Mattar's bold IHG expansion plan
Haitham Mattar is the MD for IHG Hotels & Resorts Middle East, Africa and Southwest Asia. (Supplied) Haitham Mattar has seen the hospitality industry from every angle. He started as a dishwasher in Atlanta, rose through the ranks of global hotel giants, and today leads IHG Hotels & Resorts across the Middle East, Africa and Southwest Asia as its managing director. But beyond the impressive career journey, Mattar is on a mission to reshape regional tourism and inspire the next generation. 'I've been in hospitality for over 30 years,' he tells Gulf Business. 'I actually stepped away for a while to head up tourism for Ras Al Khaimah, then advised Saudi Arabia, before coming back to IHG. I started right at the bottom, in the kitchen, scrubbing pots and pans, and I learned very quickly that no job is too small in hospitality. That's why I wrote my book Pots and Pans and Five-Year Plans: it's intended to inspire the younger generation to dream big.' The book, published earlier this year, dives into resilience, navigating adversity, and building a fulfilling career, whether in hospitality or another industry. It charts Mattar's story from his childhood in Lebanon during the civil war, to immigrating to the US at age five, and launching his career at the Courtyard by Marriott in Georgia. 'I started as a dishwasher,' he recalls. 'I was 17 and just wanted a weekend job like my friends. I didn't want to rely on my family for pocket money, so I took what I could get. But I was curious — how did the chef make breakfast? How could I master whatever role I had? That mindset stayed with me.' From Marriott, Mattar eventually joined IHG, beginning with a role at the InterContinental Dubai on the Creek. 'I started in rooms division, then became Director of Sales and Marketing. I stayed about five years before moving into a regional role covering East Africa. I left in 2011 to join Hilton, spent five years in Ras Al Khaimah, two years in Saudi, and now I'm back. This is my fifth year again with IHG,' he says. 'Seems like I run on five-year cycles.' Doubling down on Saudi Today, Mattar oversees a vast region spanning the Middle East, Africa, and South Asia. IHG currently operates 220 hotels in this footprint, with 180 more in the pipeline. The group is positioned to nearly double its regional presence in the next five years. Saudi Arabia is the biggest growth driver. 'We have 45 operating hotels in the Kingdom and another 49 in the pipeline. That's over 100 per cent growth,' he says. 'It's also our 50th year in Saudi. We've had a presence there since 1975, and we continue to see momentum.' In the UAE, IHG has 34 operational properties and 12 in development, representing 50 per cent growth. 'Dubai remains attractive, particularly with ownership changes. New buyers often look to rebrand, and that gives us opportunities to bid,' says Mattar. 'We've also signed Greenfield projects, including the world's tallest hotel tower under our Vignette Collection brand.' Despite a high volume of new supply, Dubai's hotel occupancy rarely dips. 'The city's average occupancy has never dropped below 75 per cent. That's a testament to the leadership's strategy of aligning supply with demand,' he says. Regional gaps and opportunities Beyond the UAE and Saudi Arabia, Mattar sees mixed readiness across the rest of the GCC. 'Oman has huge potential — rich culture, great food, incredible nature. But they haven't fully bounced back from COVID. Key markets like Germany and the UK haven't returned in the same numbers,' he says. 'There's a new tourism minister and a solid strategy in place, so I'm optimistic.' Kuwait, however, has not prioritised tourism yet. 'There's limited hotel development. We're opening a new InterContinental soon and recently launched a Vignette Collection hotel on the beach, but it's still mainly business travel.' Bahrain sees modest volumes, primarily from weekend travellers coming from Saudi's Eastern Province. As for Qatar, the post-World Cup environment has created new challenges. 'There's a lot of supply in the market, but not yet a consistent 12-month events calendar to drive sustained demand,' Mattar explains. 'Events tend to be last-minute, which causes spikes and dips in occupancy. We'd like to see more engagement between the tourism board and the private sector. There's an opportunity for Qatar and the UAE to collaborate more on tourism. It's just a short hop between the two.' He also supports the upcoming unified GCC tourism visa. 'It would be a game changer. Like the Schengen visa in Europe, a regional visa would allow travellers to explore multiple countries in one trip. Fly into Dubai, visit Doha, drive to Muscat — it's all possible.' The conscious traveller Across all markets, Mattar is seeing a growing demand for sustainable travel. 'Today's traveller wants to stay in hotels that practise what they preach on sustainability. They want to be part of the journey,' he says. IHG's Journey to Tomorrow is a 10-year global sustainability plan, and the group has embraced it across the region. 'Over 85 per cent of our hotels in this region have adopted practices like water conservation, LED lighting, and energy-efficient room management systems,' says Mattar. One example is in-house water bottling to eliminate plastic waste. Another is IHG's Green Engage programme, which provides hotel managers with more than 200 actions to reduce carbon footprint and energy usage. 'Many of our properties now have intelligent in-room systems that regulate air conditioning, lighting, and energy consumption based on guest behaviour,' he explains. 'Guests notice the details. They ask questions. They expect no single-use plastics. They want towels reused, not washed daily. Sustainability is now part of the decision-making process.' One of IHG's latest developments is the debut of its first Kimpton in the UAE with a new signing in Dubai's Business Bay. Market insights When it comes to the UAE's top source markets, India leads year-round, followed by the UK, Germany, Russia, Ukraine, and the US. 'The US is especially strong for conferences,' Mattar says. In Saudi Arabia, the guest mix is highly diverse. 'The holy cities attract Muslims from all over the world — China, the US, the UK. But we're also seeing more interest from American and European travellers who are curious about Saudi's transformation.' India continues to be a key market for Saudi Arabia as well. 'We're seeing more visiting friends and relatives traffic. That helps the wider ecosystem because people spend on malls, restaurants, and entertainment — not just hotel rooms.' Looking ahead With rising tourism targets in both Saudi Arabia and the UAE, Mattar believes collaboration is essential. 'Whether it's sustainable travel, regional integration, or just offering great experiences, we all have a role to play,' he says. 'Our job is to help people dream big — whether they're checking in as a guest or starting out in their career like I did.' Haitham Mattar (left), managing director for IHG Hotels & Resorts in India, Middle East & Africa, and Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, following the signing of an MoU in December 2024 to strengthen collaboration between Dubai Economy and Tourism and IHG.
