Tuesday, May 18, 2021

Author: Kenzie Rashid

The Saudi Tourism Development Fund concludes an agreement worth $ 347 million to boost tourism in Medina

The Saudi Tourism Development Fund signed an agreement with Knowledge Economic City and Riyadh Bank yesterday to jointly finance 1.3 billion Saudi riyals ($ 346.64 million) to boost tourism in Medina.

The project “City of Knowledge Forum”
The project will be built on an area of ​​68 thousand square meters, with a total value of more than 347 million dollars, making it one of the largest qualitative tourism projects in Medina.

The project will include a 5-star hotel that will be operated by a global brand, in addition to many tourist and entertainment facilities, shopping centers, restaurants and cafes.

The project is located less than 6 km from the Prophet’s Noble Mosque and is easily accessible via the Haramain express train station located in the city of knowledge. 9 million tourists, according to the latest pre-pandemic report from Euromonitor International, and Saudi Arabia aims to reach 30 million tourists by 2030.

Partnership with the banking sector
The CEO of the Saudi Tourism Development Fund, Qusay bin Abdullah Al-Fakhi, explained that the volume of funding provided by the Fund for the City of Knowledge Forum project is $ 104 million.
Riyad Bank provided financing of the same value within the framework of the partnership agreement signed with the fund in late 2020 to finance tourism projects.
$ 204 million is the cost of implementing the first phase of the City of Knowledge Forum project, which includes the commercial market, the hotel and the Boulevard
The tourism sector in Saudi Arabia has started reaping the fruits of the fund’s partnerships with Saudi banks, with the aim of finding financing solutions for investors.
Saudi Arabia’s strategic vision aims to raise the contribution of the tourism sector to 10% of GDP and generate one million total jobs by 2030.
The repayment period extends over 13 years, noting that the financing amount covers 79% of the project development cost.
Fund tasks
The CEO of the Saudi Tourism Development Fund, Qusay bin Abdullah Al-Fakhi, said that in addition to financing specific projects through the capital allocated to it, the fund uses its partnerships with banks to provide appropriate financing solutions to investors in large projects.

It also provides financial and advisory support to small and medium companies and entrepreneurs, in addition to the Fund’s role in highlighting investment opportunities in various regions of the Kingdom and linking investors with project developers and global operators in order to increase their contributions to Saudi tourism.

Toyota introduces 15 new electric cars by 2025

Toyota announced the launch of 15 models of battery-powered electric cars worldwide by 2025, to expand the company’s electric vehicle lineup to achieve carbon neutrality before 2050.

The company said it would increase the number of its electric models to about 70 from the 55 currently on the market.

Japan’s Toyota Motor Corp. indicated a shift in its stance on climate change on Monday, saying it would review its pressure and be more transparent about the steps it is taking, as it faces increasing pressure from environmental activists and investors.
The automaker came under scrutiny after siding with the Trump administration in 2019 in an effort to stop California from setting its own fuel-efficiency rules. “We will review the public policy participation activities through our company and industry associations to ensure that they are in line with the long-term goals of the Paris climate agreement,” Toyota said in a statement, adding that the measures will be announced by the end of this year.

The automaker also confirmed that it “will strive to provide more information so that stakeholders can understand its efforts to achieve carbon neutrality.”

Four funds with asset management are pressuring about $ 235 billion on Toyota ahead of its annual shareholder meeting in June to support international efforts to prevent global warming.
“This move should not be a PR exercise, but rather it signals a clear end to its role in the negative climate pressure that has given it a backward status,” CEO of the Danish Pension Fund AkademikerPension told Reuters.

A Danish pension fund spokesman, Troels Boreleld, said AkademikerPension will consider preparing a shareholder resolution to present at next year’s annual general meeting if “Toyota fails to fulfill its obligations”. The fund will consider selling its Toyota holdings if there is no change, but the spokesman said the fund officials did not think it would reach this point.

Munch Holst noted that “thus far, the company has repeatedly undermined climate action, from opposing the UK government’s ban on internal combustion engines by 2030 to opposing auto fuel economy standards in the United States.”

A Toyota spokeswoman told Reuters it would need more time to respond to Munch Holst’s comments. Other investors are the Church of England Pensions Board, Swedish AP7, and Norwegian Storebrand (STB.OL).

Tesla returns money for wrongly withdrawn clients

“Tesla” electric car company returned the money that it had accidentally deducted from credit cards for customers, at the end of last March, and apologized to its affected users, and added 200 dollars to their electronic accounts to be used in the purchase of any of its products through its online store, according to what was published by the site “Engadget”.

CNBC published a report, stating that the users affected by the error expressed their dissatisfaction with Tesla not disclosing the reason behind the problem, stressing that the value of the discounts they got and the value of 200 dollars, is considered much less compared to what they incurred. Of special benefits for their credit cards for a week.

The caftan is an international fashion during Ramadan

On the occasion of the holy month of Ramadan, many international fashion houses offer their seasonal collections that celebrate the elegance of oriental designs, and recently launched from the Emirate of Dubai, an exclusive “capsule” collection, inspired by the Middle East region and its charming legacy.

The collection is particularly distinguished by the lightness of its luxurious fabrics with a rich texture and the soft threads that give the cuts an unparalleled flow. Silk, linen, and cotton threads combine to form tissues that embrace the body and move the senses! The luxurious and delicate touch comes first in everything the house has to offer. Midi-length dresses slip on the body spontaneously, sometimes tapering and contouring the waist with elegant belts at other times.

As for the jackets, they come without buttons and comfortable geometric cuts that we see coordinated with flowing pants, and the result is practical and elegant suits at the same time. This collection provides ultra-light and comfortable options for an elegant look from day tonight.

Hayat Hotels Group opens its 1000th hotel in the world

Hayat Hotels Group today announced the official opening of the Alila Napa Valley Hotel in St. Helena, California, the brand’s 1000th hotel in the world.

This coincides with the grand opening of new hotels in the Middle East, such as the Grand Hyatt Al Khobar Hotel and Residences in Saudi Arabia, and Alila Hino Bay Hotel in Amman.

The founder of Hayat Hotels Group, Jay Pritzker, bought the brand’s first hotel in 1957 to fulfill his vision that aims to nurture people to be at their best, and from then to this day, Hayat continues to adhere to this vision.


After more than 60 years, the brand has cemented its ongoing commitment to expanding its growth into destinations that matter to guests, members, customers, and owners alike, thanks to the distinctive designs of Hyatt hotels, the award-winning ‘World of Hyatt’ hotel loyalty program and strategic acquisitions. .

The opening of Alila Napa Valley, the brand’s second hotel in the Americas, is a move to expand the luxury lifestyle brand Alila portfolio. Likewise, Hayat intends to increase its presence in the Middle East with the announcement of the opening of new hotels under the Alila, Grand Hyatt, and Hayat Centric brands.

Ludwig Boldukian, Regional Vice President of Development, Middle East and Africa, said: “We remain focused on expanding our global presence and building our business in the best places that enable us to care for guests and make a positive impact on them and their communities.

With the brand’s new opening and growth plans moving forward in the Middle East and around the world, we are sparing no effort in providing unique experiences that will meet the growing demand for leisure destinations that our guests will visit when they travel again. ”

The third richest billionaire in South Korea donates most of his fortune to solving social issues

South Korea’s third-richest billionaire, Kim Bum Soo, founder of Kakao Corporation, has signed the Giving Pledge initiative, launched by billionaire Warren Buffett, chairman of Berkshire Hathaway, pledging to donate most of his wealth to help solve social problems.

In a New Year message, Kim pledged to his company employees to donate more than half of his fortune to these goals.

Buffett Initiative
Kim and his wife Mason Hyung are the 220th on the signatories to the initiative Warren Buffett started in 2010 with Bill Gates and his wife Melinda to encourage the wealthy to donate to charity.
The initiative has been joined by billionaires from 25 countries, including Tesla founder, billionaire Elon Musk, Facebook founder Mark Zuckerberg and Virgin Group founder, Richard Branson.
Kim joins the Korean billionaire Kim Bong Jin, founder of the food delivery app Woowa Brothers, who also signed Buffett’s initiative with his wife last month.
“After achieving the wealth that I was seeking, I am starting to feel bored and lack a direction in life,” said Kim in a statement, who grew up in a poor family.
As part of adopting a strategy to influence the lives of many Koreans, Kim launched a project to support 100 startup executives. Kim aims to explore suitable alternatives to the educational system for future generations.

Kakao Corp’s market value is about 42.534 trillion won ($ 37.6 billion), based on today’s share price of 479,000 won ($ 423.47).
Kim’s fortune
Kim is the third richest person in South Korea, with a net worth of $ 9.3 billion, according to real-time statistics from Forbes.

Kim managed to increase his fortune by 232% in less than a year, reaching $ 2.8 billion in April of last year.

The KakaoTalk app, founded by Kim, has about 52 million users worldwide, according to Bloomberg, and about 90% of the South Korean population uses the app.

Kakao acquired the nation’s # 2 Daum search engine for $ 3.3 billion, in 2014.

Kim is a co-founder of NHN Entertainment, a gaming company affiliated with the nation’s largest search engine Naver, and in 2017, Kim bought Upbit, the nation’s largest cryptocurrency exchange, through his holding company K Cube Ventures.

Founded in 2010, Kakao Corporation has been able to take advantage of social distancing measures, many people have turned to its messaging app, e-commerce platform, and online games.

Kakao Corp’s profit last year was 167.077 billion won ($ 147.7 million), compared to losses of 341.925 billion won ($ 302.29 million) in 2019, according to its financial results posted on its official website.

$ 55 Million Rights to The Pale Blue Eye

On the stardom of stardom, actor Christian Bale rose and settled to the highest levels, establishing his name as one of the stars who mastered the game of acting, and knew well its secrets. Bell is so skilled at wearing the masks of the characters he embodies, so much so that you think at first glance, it’s part of his true personality, the Batman spectrum still dominates his list.

As he embodied the character professionally in many films, most of which received the admiration of the audience and critics alike, and every time he appeared, his name rose high to embrace the sky, and the spectrum of the character “serial killer Patrick Bateman” who wore his mask in the psychological thriller “Dysfunctional” is still American »(American Psycho) directed by Mary Aaron, accompanies him.

It is the film that launched his stardom so that he could shine after him in providing psychological thriller films. It is impossible to overlook his characters in the films “American fraud” by David or Russell, and “The Big Short” and also the movie “The Fighter” for which he won an Oscar. Best Supporting Actor.

Big deal

Competition for the rights to the movie “The Pale Blue Eye” seemed high in the European film market, as the deal ultimately went to Netflix, which paid for the rights to the film $ 55 million, to reunite Christian Bale with director Scott Cooper for the third time on In a row, where their last project was the movie “Hostiles”, which they presented in 2017, and at the time, it achieved $ 35 million in revenue.

Netflix’s completion of this deal seemed remarkable to everyone, as it opened eyes to the future network’s steps, through which it aims to present “heavy weight” productions, taking advantage of the “weight” of the names accompanying the group of films that it obtained. Before this film, it had obtained On the rights to the movie “The Ice Road” starring Liam Neeson, hoping that she will add it in the coming period to her list.

The movie Deadline website quoted director Scott Cooper as saying: “Although Edgar Allan Poe was born in Boston and died with a delirium in Baltimore, he spent most of his life in my home in Virginia, so I grew up in his presence, We have inherited the police genre, and such a presence is still in our culture. Every writer of horror, mystery and science fiction owes Poe. ”

Pointing out that he had always wanted to implement this film. He said, “For more than 10 years, I wanted to make this film, and it is my luck that Christian has advanced in age, in a way that suits the nature of the main character. He was young when I first thought about working on this project, so I think the films Show in time ».

So far, this film has not been fully disclosed, as Christian Bale has been crowned a star, while his filming work is expected to begin in the fall, after Christian Bale has finished completely with the films “David or Russell” and (Thor: Love). And Thunder), in order to be dedicated to this work, about which Scott Cooper said he would personally write the script.

Adele … the best-selling album of the 21st century

British singing star Adele Adkins has won the title of the artist with one of the best-selling albums in the United Kingdom during the current century, beating her counterparts such as Pink, Madonna, Rihanna, and others, according to the classification of “The British Bonographic Industry” which represents the British music industry.

According to news websites, her album titled “21” has also been tagged as the number one album in the United Kingdom by a female artist since 2000, after releasing 6 million copies in the United Kingdom alone.

These new numbers came out to coincide with the return of the National Music Album Day scheduled for October 21 to “Celebrate Women in Music” as the theme for 2021.

“We are delighted that National Album Day is back in its fourth edition, highlighting this year the tremendous contribution women are making to the music world,” said Jeff Taylor, CEO of BPI, and Kim Bailey, CEO of the Entertainment Retailers Association. Emphasizing that while developing the ways in which fans of tone and note enjoy music, the album remains central to the artists ‘expression of themselves and fans’ understanding of what it has to say to them. So National Album Day is an opportunity for artists and fans alike to celebrate this beloved art form and remind ourselves of the continuous power of albums to tell stories, influence, and inspire.

Fashion is looking for a better, more sustainable world

The modern global challenges that we are facing, starting from climate, to the scarcity of water resources, have made many fashion houses bear responsibility and search for solutions, when using fabrics, which are the first element in the completion of fashion, regardless of their designs and the target age group, and in this context.

The companies continued their commitment to achieving a more responsible fashion industry, and used a range of denim fabrics for this season, which will save 30 million liters of water in the final stage, thanks to innovative and more sustainable operations.

Some models incorporate technologies such as laser or ozone, in order to provide sustainable and effective solutions for washing and preparing every uniform. Likewise, Tommy Jeans presented her Spring 2021 collection, with a modern and sporty effect, based on denim and recycled cotton fabrics.

Recreate and adapt

About this group, Beatriz Bio, Mango’s Director of Sustainability, said: Thanks to innovation and adaptation to sustainable technologies and processes, we are creating collections, and we are constantly looking for more sustainable alternatives and production materials.

Mango has continuous goals and a clear plan to achieve its approach, based on its conviction to continue betting on a more responsible business model. By 2025, 50% of polyester, one of the primary materials in the fashion industry, will be recycled.

Amazon Primed ‘Coming 2 America’s Successful First Weekend

Coming 2 America is finally here, and despite doing that weird thing where you put a literal number inside the title, we’re quite looking forward to it. Coming to America came out in 1988, so it’s been … 33 years since the original comedy hit theaters? It’s a testament to the film’s success and cultural impact that anyone is interested in a sequel. Is it any good? Our reviewer Patrick Holland mostly liked it. 

Coming 2 America was a sequel that was a long time coming — it was finally released more than 30 years after the original 1988 hit comedy. So it stands to reason that the long-awaited Coming to America sequel, which brings back Eddie Murphy and other original cast members, would have legions of nostalgic fans who would tune in when the film debuted on Amazon Prime Video last week. But even so, today’s news that Coming 2 America had the biggest debut of any streaming movie in the past year? That’s a bit hard to believe, but as is the case with all of these celebratory “ratings” stories, we have no actual numbers to back it up. So let’s roll out the royal red carpet for the movie that reportedly scored the “No. 1 opening weekend of any streaming movie in the past 12 months.”

Coming 2 America is directed by Craig Brewer, from Paramount Pictures in association with New Republic Pictures, and produced by Eddie Murphy Productions and Misher Films. The screenplay is written by Kenya Barris, Barry W. Blaustein, and David Sheffield, with a story by Barry W. Blaustein, David Sheffield, and Justin Kanew, based on characters created by Eddie Murphy. The producers are Kevin Misher and Eddie Murphy, executive producers are Brian Oliver, Bradley Fischer, Valerii An, Kenya Barris, Charisse Hewitt-Webster, Michele Imperato Stabile, and Andy Berman. 

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