Iraq signs contract with Schlumberger to develop production at Akkas gas field
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Arab News
5 hours ago
- Arab News
Dubai International Airport sets H1 passenger record with 46m travelers
RIYADH: Dubai International Airport handled 46 million passengers in the first half of 2025, marking its busiest six-month period on record despite regional airspace disruptions and global headwinds. In a press release, operator Dubai Airports said the 2.3 percent year-on-year increase underscores the continued strength of the emirate's aviation sector and the terminal's operational resilience. The growth came despite temporary airspace restrictions in May and June, which forced several Gulf carriers to reroute flights and adjust schedules due to heightened military activity and no-fly zone declarations in parts of the Middle East. Paul Griffiths, CEO of Dubai Airports, said: 'DXB's continued growth through a period of regional challenges highlights the strength of Dubai and the UAE, the agility of our operations, and the commitment of our airport community.' In the second quarter alone, the airport handled 22.5 million passengers, a 3.1 percent increase over the same period last year. April was the busiest month of the quarter and the most active April on record, with 8 million travelers. Average monthly traffic during the first half stood at 7.7 million passengers, with daily volumes averaging 254,000. January was the busiest month, setting a new monthly record with 8.5 million passengers. In the second quarter alone, DXB served 22.5 million guests, an increase of 3.1% over the same period last year. April emerged as the busiest month of the quarter and the most active April on record, with 8 million guests passing through the terminals. — Dubai Media Office (@DXBMediaOffice) July 29, 2025 DXB also handled 222,000 flights and processed 41.8 million bags in the first half, with 91 percent delivered within 45 minutes of arrival. The mishandled baggage rate stood at 2 bags per 1,000 passengers, well below the industry average of 6.3, the release added. 'As we enter the second half of the year, travel activity is expected to accelerate, beginning with the late-summer peak and leading into a winter season filled with high-profile events across entertainment, sport, and business,' said Griffiths. He said the Dubai Airshow 2025 will be a standout event, poised to break previous records and highlight the bold vision driving the future of aviation and aerospace. 'Based on our performance to date and a positive outlook, we expect the annual traffic to reach 96 million this year, bringing us closer to the symbolic 100 million milestone,' added Griffiths. India remained DXB's top market in the first half of the year, with 5.9 million passengers, followed by Saudi Arabia with 3.6 million. The UK accounted for 3 million passengers, while Pakistan and the US recorded 2.1 million and 1.6 million, respectively. London was the busiest city destination with 1.8 million passengers, followed by Riyadh, Mumbai, Jeddah, New Delhi, and Istanbul. DXB also processed more than 1 million tonnes of cargo during the first half of 2025, a 0.1 percent increase compared with the same period last year. The airport is connected to more than 269 destinations in over 107 countries and is served by 92 international carriers.
Arab News
5 hours ago
- Arab News
SRMG appoints Nedaa Al-Mubarak as CEO of Media Solutions
RIYADH: The Saudi Research and Media Group (SRMG) has announced the appointment of Nedaa Al-Mubarak as Chief Executive Officer of SRMG Media Solutions (SMS), its performance-driven commercial arm. Al-Mubarak's appointment comes as a step in SRMG's continued transformation and growth strategy, as it expands its focus on outcome-based solutions for partners across the Middle East. In her new role, she will lead SMS's efforts to deliver strategic offerings powered by premium content, advanced adtech, and unmatched access to regional audiences. Leveraging proprietary first-party data and a growing roster of strategic partnerships, SMS serves as the exclusive commercial representative for over 30 SRMG brands, including Asharq News, Arab News, Hia, Sayidaty, Billboard Arabia, Manga Arabia, and Thmanyah, which recently secured exclusive rights to distribute Saudi Pro League content across the region through 2031. These partnerships give advertisers seamless access to over 210 million users worldwide across digital, TV, print, audio, and OOH platforms. Whether targeting finance, tech, sports, or culture, SMS delivers tailored media solutions powered by vertical expertise, proprietary insights, and agile content delivery. 'With SRMG Media Solutions, we've built a future-ready platform that meets the region's evolving media and advertising needs with precision, creativity, and scale,' said Jomana Alrashid, CEO of SRMG. 'Nedaa brings the vision, experience, and ambition to accelerate this next chapter. Her deep understanding of both the public and private sectors, coupled with her performance-first mindset, makes her the right leader to unlock new value for our clients and our business. Al-Mubarak is a forward-looking media executive with a track record of delivering growth and transformation. In her role as Managing Director of SRMG Think, she has helped redefine the group's strategic consulting business, tripling its service lines and more than doubling revenue. With a background spanning investment, tourism, and economic policy, she has led initiatives that contributed to the development and advancement of multiple sectors. At SMS, she will oversee a powerful media solutions platform that spans planning, activation, and optimization - enabling brands to connect with purpose, perform with precision, and scale with impact. Powered by data, insight, and creative execution, SMS delivers smarter, outcome-first campaigns across the full SRMG ecosystem. From high-reach media to curated, vertical-specific solutions, every placement is engineered to convert and built to move the needle. 'The media industry is at a crossroads - and SMS is uniquely positioned to lead the way forward,' said Al-Mubarak. 'Our mission is clear: deliver real outcomes for our partners by combining data, creativity, and technology. I'm proud to take on this role at such a pivotal time, and excited to work with our clients to shape the next era of growth.' SMS is the trusted partner for ambitious businesses looking to drive performance across the Middle East. Its integrated approach fuses audience insight, exclusive content, and digital innovation into measurable results that move the needle.
Arab News
5 hours ago
- Arab News
Saudi Arabia leads MENA private equity market in H1: MAGNiTT
RIYADH: Saudi Arabia emerged as the most active private equity market in the Middle East and North Africa during the first half of 2025, accounting for 45 percent of all recorded transactions. According to MAGNiTT's MENA Private Equity Report, the Kingdom posted 13 deals, an 8 percent increase year on year, outpacing the UAE, which recorded 12 transactions, representing a 25 percent annual decline. Combined, the two markets comprised 86 percent of total regional PE deal activity, highlighting their growing dominance in the MENA investment landscape. Overall, the region continued to see a contraction in transaction volumes, with total activity dropping by 38 percent year on year to account for just 29 percent, marking the third consecutive half-year decline. Disclosed deal value dropped only 11 percent from the first half of the year 2024 to $2.88 billion, as capital shifted toward larger, high-conviction investments. 'The MENA region's PE recalibration is being led by scale-ready SMEs (small and medium-sized enterprises) and high-conviction strategies, not withdrawal,' said Farah El-Nahlawi, research department manager at MAGNiTT, adding: 'The growing dominance of $100M+ deals signals a maturing landscape ready to absorb larger pools of capital.' The Kingdom's PE growth aligns with its venture capital growth. According to a separate report by MAGNiTT, Saudi Arabia led MENA VE activity in early 2025, raising $860 million — a 116 percent year-on-year increase — driven by sovereign backing and rising foreign investor interest. The report recorded 114 VC deals in the first half of the year, up 31 percent from the same period in 2024, highlighting the broader momentum across the nation's investment ecosystem and its growing appeal as a capital destination for both private equity and venture capital. Investor activity varied notably among key markets. In Saudi Arabia, 12 out of 13 transactions involved local investors, highlighting strong domestic momentum. In contrast, two-thirds of the UAE's deals — eight out of 12 — were led by international investors, reaffirming the UAE's role as a regional gateway for cross-border capital. The concentration of capital into larger deals was a defining trend. Transactions in the $500 million to $1 billion range rose to 29 percent of the total in the first half of 2025, while $1 billion-plus deals accounted for 14 percent — both the highest shares in five years. At the same time, smaller deals under $50 million dropped to just 14 percent, the lowest level on record. On a value basis, transactions in the $500 million to $1 billion bracket made up 42 percent of disclosed capital, overtaking the $1 billion-plus segment, which declined from 45 percent in 2024 to 36 percent in the first half of 2025. This evolution aligns with broader global investment patterns. According to S&P Global, international PE deal value rose 18.7 percent year on year in the first half of 2025 despite a 6 percent decrease in volume, suggesting an industry-wide pivot toward fewer but more substantial transactions. 'Despite global macro uncertainty, the GCC, particularly Saudi Arabia and the UAE, continues to demonstrate structural strength and investor confidence,' El Nahlawi said, adding: 'Backed by sovereign support, maturing SMEs, and a favorable regulatory environment, the region is poised to anchor future PE activity.' Beyond the Kingdom and the UAE, Egypt, Jordan, Morocco, and Qatar each recorded a single transaction, jointly accounting for the remaining 14 percent of regional activity. Egypt experienced the sharpest drop, with dealings down 89 percent year on year.
