Latest news with #2030Vision
New Straits Times
04-06-2025
- Business
- New Straits Times
Ireland's Dalata Hotel rejects US$1.5bil buyout proposal from Pandox, Eiendomsspar
KUALA LUMPUR: Ireland's largest hotel group Dalata on Tuesday rejected a 1.3 billion euro (US$1.48 billion) buyout proposal from Scandinavian property companies Pandox AB and Eiendomsspar AS for "materially" undervaluing it. Dalata, which launched a strategic review in March, said Pandox was not participating in its ongoing sale process, which has drawn interest from other potential bidders. The Irish group operates 55 hotels under the Maldron Hotel and Clayton Hotel brands, mostly in Ireland and Britain, and aims to expand its portfolio to 21,000 rooms across Ireland, the UK and continental Europe under its "2030 Vision" strategy. The proposal from the groups had comprised a cash offer of 6.05 euros per ordinary share of Dalata, representing a premium of about 5 per cent to Dalata's closing price on Monday. Shares of Dalata closed up 5.2 per cent at 6.06 euros on Tuesday, their highest since May 2019. It said it continues to engage in "constructive discussions" with other parties who have submitted initial non-binding proposals, without naming who they were. The Pandox-led consortium did not immediately respond to a request for comment on the rebuff by Dalata. Under Irish takeover rules, Pandox and Eiendomsspar had until July 15 to make a formal offer for Dalata or walk away. Norway-based Eiendomsspar is the second largest shareholder in the Irish group with a stake of around 8.8 per cent and in Pandox, in which it has a stake of around 8.5 per cent. Sweden-based Pandox AB specialises in the ownership, development and leasing of large hotel assets in major cities across Sweden and northern Europe. It has been expanding its portfolio through acquisitions and leases in key European cities including Stockholm, Berlin and Brussels. Dalata's adjusted core profit rose 5.1 per cent last year to 234.5 million euros as revenue grew 7.3 per cent to 652.2 million euros, driven by additions to its portfolio over the past two years.
Zawya
28-05-2025
- Business
- Zawya
Saudi Arabia is leading the of esports on the global stage
The ES TIMES — During a session titled "Driving Global Growth: Esports and Sports from a Vision 2030 Perspective," Prince Faisal bin Bandar bin Sultan spoke about the evolution of esports to become a key component of Saudi Arabia's development. Esports in Saudi Arabia is not just entertainment; it supports innovation, empowers youth, and adds long-term value to the gaming community in the region and globally. Saudi Arabia has taken bold steps. Launching the National Gaming and Esports Strategy, hosting the Esports World Cup Foundation, and investing in projects like Qiddiya, Prince Faisal said, "We're not waiting for the future, we're creating it." Through the Saudi Esports Federation (SEF), he has built a structured ecosystem that develops talent and supports every gamer and creator to thrive. A Thriving Gaming Nation Today, 67% of Saudis consider themselves gamers. With this reality in mind, the goal is clear: for the Kingdom to become the world's premier destination for gaming and esports by 2030. The 18th Edition: A Global Gathering This edition of the International Olympic Academy Congress brought together 150 enthusiastic participants from five continents. Organized by the International Olympic Academy to expand its global Olympic education network, it began with a symbolic visit to the archaeological site of ancient Messenia, connecting the past with the Olympic values. During the opening ceremony, Charilaos Tsolakis, President of the IOA, and Isidoros Kouvelos, President of the HOC, affirmed their shared commitment to the values of the Olympics. Furthermore, they highlighted the importance of education, the role of innovation, and international cooperation as fundamental principles at the heart of this initiative. Esports in Focus The day concluded with an inspiring keynote address and a panel discussion. The discussion was led by Prince Faisal bin Bandar bin Sultan Al Saud, President of the International Esports Federation, and Makis Asimakopoulos, Director of the IOA. They discussed how digital competitions can align with the Olympic values and even enhance the Olympic spirit, encouraging attendees to consider esports as a cultural force. 19 19 According to the recent announcement by the International Olympic Committee (IOC), Saudi Arabia will host the first Olympic Esports Games in 2025. This move represents a new chapter in the global recognition of esports. With more than 23.5 million players, Saudi Arabia is emerging as a global powerhouse. Esports plays a vital role in social transformation, with nearly half of the gamers in the Kingdom being women. Since the launch of Vision 2030 in 2016, we have seen continued progress in empowering women. Princess Reema Bandar Al-Saud, IOC Member and Chair of the Women in Sport Commission, commended this trend, saying: "The rise in women's participation in esports is exciting. I look forward to the Olympic Esports Games as an opportunity to engage more women in a safe and inclusive environment." SEF: At the forefront of the digital revolution Established in 2017, the Saudi Esports Federation has spearheaded the sector's advancement. Prince Faisal stated, "We aim to develop talent and encourage both personal and professional growth." With strong government support, the Public Investment Fund (PIF) has committed $38 billion to the gaming sector, which is expected to create 39,000 jobs, support 250 developers, and add $13.33 billion to the national economy by 2030. Strategic Investments and Global Partnerships Savvy Games Group, owned by PIF, is actively forging international partnerships. Their $4.9 billion acquisition of mobile developer Scopely in 2023 demonstrates their long-term ambitions. Prince Faisal explained, "We aim to be a global hub for gaming and esports." In 2023, SEF hosted Gamers8 in Riyadh, which featured a record-breaking $45 million in prizes. Building on this remarkable success, Saudi Arabia is preparing for a new and ambitious step, hosting the Esports World Cup in 2025, reflecting the continued expansion of its strategy to support and develop the global gaming and esports sector. Promoting Education and Skills Through Gaming Gaming is not just entertainment - it's a tool for growth. Prince Faisal believes that gaming can foster creativity, teamwork, and strategic thinking. There are plans to integrate gaming into the education sector. A Nation Ready to Lead Indeed, Saudi Arabia is not only building events and strategies, but is confidently moving toward shaping a future where gaming and esports reach new heights. By investing in the energy of its youth, its ambitious vision, and its unwavering commitment, the Kingdom is not only participating in this global transformation - it is leading the way, shaping the next phase with confidence and creativity. On July 13, 2024, the International Olympic Committee officially confirmed that Saudi Arabia will host the first Olympic Esports Games. Prince Faisal enthusiastically commented: "We are proud to be part of writing a new chapter in Olympic history." IOC President Thomas Bach echoed this sentiment, praising the expertise of the Saudi Olympic Committee. He also expressed his firm confidence in its ability to deliver an inspiring and innovative Olympic Esports Games, reflecting the remarkable development of the Kingdom's standing on the global sports scene. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Campaign ME
27-05-2025
- Business
- Campaign ME
Ruder Finn Atteline launches regional HQ in Saudi Arabia
Ruder Finn, the global integrated marketing and communications consultancy, announces its fully combined office and regional headquarter in Riyadh, Saudi Arabia, following the acquisition of Atteline, now operating as Ruder Finn Atteline in the region. In line with the agency is advancing AI-powered creative solutions for MENA. Kathy Bloomgarden, CEO of Ruder Finn, commented, 'Ruder Finn Atteline's culture and innovation were key factors in our decision to join forces in 2023, alongside their leading presence and expertise across MENA as a whole. We are excited about the prospect of growth in the region and inspired by the Kingdom's 2030 Vision. We look forward to partnering with clients and contributing to the Kingdom's initiatives.' Through its RF Tech Lab, the integrated communications agency is optimising KSA brands' presence through a suite of tools harnessing data science, machine learning, and AI. With dual-language capabilities and expertise in transforming data into predictive insights, Ruder Finn Atteline is helping businesses grow, target key stakeholders, mitigate risk by anticipating trends, and solve complex business challenges to deliver unmatched communications services across the region. Sophie Simpson, Managing Director of Ruder Finn Atteline – MENA, added, 'Our integration with Ruder Finn in 2023, expansion to Saudia Arabia last year, and fully operational office are stepping stones towards a broader vision: to provide stronger communications through even stronger relationships. Ruder Finn's extensive experience and innovative tools are resources we're eager to bring to the Kingdom and throughout MENA. As communications evolve in the digital era, Ruder Finn has equipped us to offer unique solutions to our clients – ones that prioritize their business goals so that they can distinguish themselves in an increasingly competitive market.' Looking ahead, Ruder Finn Atteline is preparing to strengthen its presence in Saudi Arabia through impactful partnerships, educational initiatives for communications professionals, and programs aligned with Vision 2030.
India Today
13-05-2025
- Business
- India Today
Saudi Arabia launches Humain to develop AI, may seek US partnership and favour from Donald Trump
The kingdom that made its fortune from oil is now drilling into data, not crude. The Crown Prince of Saudi Arabia, Mohammed bin Salman has launched a new company called Humain (no, that's not a typo) that will build artificial intelligence technologies in the country, according to a report by Reuters. The AI company is part of Saudi Arabia's 2030 Vision programme that aims to reduce the country's oil dependency. And in this effort, Saudi Arabia will reportedly take some help from the US, and a favour from Donald Trump. advertisementThe US President on Tuesday arrived in Saudi Arabia, which is the first leg of his Middle East trip. Humain is chaired by the Crown Prince himself and is powered by Saudi Arabia's hefty Public Investment Fund, which is worth a staggering $940 billion. 'No patchwork, no vendors to juggle. Just one full stack, built for scale and ready to solve real problems,' reads Humain's is the goal behind Humain (obviously apart from building AI)? The company reportedly plans to roll out serious infrastructure like next-gen data hubs, cloud platforms, and high-performance computing systems. Its flagship project: a large language model that understands Arabic and is tailor-made for users in Saudi Arabia and across the Middle East. And the timing couldn't be more perfect. The Saudi data centre market is heating up fast — it's expected to nearly triple in size by the end of the decade, growing from $1.33 billion in 2024 to almost $4 billion by 2030. advertisementSpeaking of tech giants, Saudi Arabia is also looking west, literally. The launch of Humain is part of a larger charm offensive aimed at teaming up with American companies and investors. The Saudi-US Investment Forum in Riyadh this week will likely look like a Silicon Valley reunion, with the likes of Elon Musk, Sam Altman, and Mark Zuckerberg expected to attend. And then there's the Trump angle. While not officially confirmed, there's growing speculation that Saudi Arabia may be eyeing a friendlier White House in 2025 to help smoothen future collaborations. A closer relationship with Donald Trump could potentially open more doors for tech partnerships, investment approvals, and regulatory support from the top it all off, Saudi Arabia is also working with chipmakers Groq and Cerebras, and is building what might soon be the world's largest AI inference data centre, according to a report by Forbes. Humain will reportedly be headed by former Aramco Digital and Rakuten executive Tareq Amin. 'This initiative will pave the way for a groundbreaking national AI strategy in Saudi Arabia, and I'm honored to have the opportunity to lead this mission,' Amin wrote in a Linkedin post last year.
Trade Arabia
11-05-2025
- Business
- Trade Arabia
Acwa Power's Q1 operating income up 117pc
Acwa Power has reported an 117% increase in operating income for the first quarter ended March 31, 2025, reaching SAR 870 million ($231 million). This was primarily due to higher development business and construction management services income. Net profit, attributable to equity holders, reached SAR 427 million, a 44% increase from 2024. "Our financial results for the first three months of 2025 demonstrate the success of the Acwa Power strategy to accelerate new business development across the company. We achieved significant growth in operating income and net profit, underpinned by the foundation we've laid for growing revenue streams," said Marco Arcelli, Chief Executive Officer of Acwa Power. "In Saudi Arabia, we are in an advanced stage of concluding the next giga wave of projects as part of the 2030 renewable energy target of 130 GW as announced by the Ministry of Energy, solidifying our position as a global leader in energy transition and water desalination." Abdulhameed Al Muhaidib, Chief Financial Officer of Acwa Power, said: 'We've delivered strong and encouraging results for the first quarter of the year. This not only reflects Acwa Power's disciplined approach to our growth objectives for 2030 but also demonstrates our focus on sustainable value creation for our shareholders.' Earlier in the year, Acwa Power has announced signing of a share purchase agreement to acquire operational gas power and water desalination assets from Engie, adding 4.6GW of power generation and 1.1 million cubic meters per day of water desalination capacity on its overall portfolio. 'Once this acquisition is complete expected in 2025, we will further strengthen our stable, visible revenue and cash flow streams,' added Al Muhaidib. During the first quarter, the Company added 9.7 GW of energy capacity and 1.4 million m³/day of desalinated water. The portfolio now includes 101 assets with total investment cost of $107 billion and a total gross capacity of 78.9 GW of power generation, 5.3 GWh of BESS, and 9.5 million m³/day of desalinated water production.
