NEW YORK: Apple Inc. said it sold more than 2 million of its new iPhone 5 in China during the three days after its launch there on Friday, marking China’s best-selling iPhone rollout ever.
But the highly anticipated release in China, Apple’s second-biggest market, has not eased worries about stiffer competition in smartphones that are driving a slide in the share price of the world’s most valuable technology company.
Apple shares fell 3.8 percent on Friday to $ 509.79 after the iPhone 5’s China debut, while Citi Research downgraded Apple’s stock this week to “neutral” from “buy” and lowered Apple’s price target to $ 575 from $ 675, citing diminishing hype around the iPhone 5 and improving competition in smartphones.
Apple’s latest iPhone made its global debut with a launch in the US and 30 other countries in September, selling more than 5 million in its first three days on the market.
“Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China,” Apple Chief Executive Tim Cook said in a statement.
This is the first time Apple has announced China sales numbers for the iPhone.
Analysts say Apple’s longer-term outlook in the China market, however, may hinge on expanding its partners in that country to include China Mobile Ltd, the country’s top telecoms carrier.
Wal-Mart Stores Inc. said earlier that it began selling the flagship iPhone 5 smartphone at a big discount in thousands of its stores.
Wal-Mart said it is selling the 16 GB Apple iPhone 5 for $ 127, versus an original price of $ 189.97. The price is valid with a two-year contract from wireless carriers Verizon, Sprint and AT&T, the retailer added.
Wal-Mart said it is also selling the 16 GB iPhone 4S and the 16 GB iPad with Retina display and WiFi at discounts.
The offers will be available for 30 days in about 3,000 of Wal-Mart’s stores, which were not identified. They are not available online, according to the retailer.
Apple has focused on high-priced, premium gadgets for many years and has strictly enforced its prices with retailers and other distributors. However, a Wal-Mart spokeswoman said on Friday that the discounts were arranged with Apple.
“We worked together with them on this,” the spokeswoman, Sarah Spencer, said. “They are a great partner.”
Wal-Mart is pricing the iPad starting at $ 399, down from $ 499. Beginning Dec. 17 the retailer said it will throw in a $ 30 iTunes card.
Wal-Mart is selling the 16 GB iPhone 4S for $ 47, versus an original price of $ 89.97, it said.
Apple did not respond to a request for comment.
Wal-Mart’s cooperation with Apple is a contrast to its relationship with Amazon.com Inc, the world’s largest Internet retailer.
In September, Wal-Mart said it would stop selling Amazon’s Kindle eReaders and tablets, placing a bet that consumers would be more interested in Apple’s gadgets. This spring, Target Corp. stopped selling Kindle devices.
New record: Apple iPhone 5 starts strong in China
New record: Apple iPhone 5 starts strong in China
New report reveals trends shaping future of halal travel
As awareness of Muslim travelers’ needs grows, halal travel is increasingly shaping how destinations design and deliver experiences. According to the newly released 2025 Mastercard-CrescentRating Global Muslim Travel Index, international Muslim arrivals reached 176 million in 2024 — up 25 percent from 2023 — and are projected to grow to 245 million by 2030. By then, total travel spending is expected to reach $230 billion, highlighting the growing influence and economic potential of this vibrant market.
To stay competitive, travel and tourism stakeholders must adapt to the evolving needs of Muslim travelers, prioritizing purpose, inclusivity, and digital innovation.
Key consumer trends impacting halal travel
• Smart apps: Muslim travelers are embracing digital tools that offer seamless access to faith-aligned services and personalized experiences.
• The modern female Muslim traveler: Women are shaping the halal travel sector in powerful ways, driving demand for safer, inclusive, and thoughtfully designed spaces.
• Muslim-friendly facilities: Destinations that offer alcohol-free environments, halal-certified dining, prayer facilities, and gender-segregated pools and spas are becoming essential.
• Solo travel surge: Younger Muslim travelers are embracing solo adventures, favoring autonomy and personalized itineraries.
• Digital detox retreats: Inspired by Islamic values of mindfulness and balance, many travelers are seeking tech-free escapes rooted in nature and spirituality.
Among OIC destinations, Malaysia retains the top spot, recognized for its accessible halal-friendly services and infrastructure. Türkiye, Saudi Arabia, and the UAE share the second spot, each offering a strong combination of cultural heritage, modern amenities, and dedicated efforts to enhance the Muslim travel experience. Indonesia also ranks highly, supported by its rich cultural appeal.
Other notable destinations in the Gulf region include Qatar, Oman, and Kuwait, all of which continue to strengthen their offerings for Muslim travelers.
Among non-OIC destinations, Singapore remains the leader — recognized for its emphasis on inclusivity and cultural sensitivity. Thailand and the Philippines are steadily emerging as rising Muslim-friendly destinations in Southeast Asia. Thailand offers warm hospitality and a growing range of halal-certified services, while the Philippines is enhancing its capacity to serve Muslim travelers through better halal food access and Muslim-friendly features at key tourist sites.
SEVEN invests in future of Saudi entertainment sector
Saudi Entertainment Ventures, known as SEVEN, is investing heavily in the future of the Kingdom’s entertainment sector by creating a broad spectrum of job opportunities, said Abdulelah AlFawzan, chief projects officer at SEVEN.
AlFawzan told Arab News that SEVEN is developing a diverse range of technical, creative, operational, and managerial roles to unlock “new horizons of joy” while building a thriving and sustainable workforce that mirrors the energy and ambition of Saudi Arabia.
He said the company has already achieved 55 percent Saudization across its workforce, including 45 percent in leadership positions. “Through initiatives such as our Future Leadership Program in partnership with IMD, we are equipping Saudi talent with global best practices in entertainment management, ensuring they are prepared to lead this sector forward,” AlFawzan explained.
He said that delivering the best guest experiences depends on passionate, diverse teams who deeply understand and share the culture of the communities they serve. “We are committed to creating opportunities that empower Saudi youth to build meaningful careers in the entertainment industry,” he added.
The chief projects officer revealed that SEVEN is reshaping international entertainment experiences to resonate strongly with Saudi cultural values.
AlFawzan stressed that guests remain at the core of every decision SEVEN makes. When collaborating with global brands like Warner Bros. Discovery, Mattel, and Hasbro, the company ensures a robust commitment to meaningful localization.
“It is never a matter of simply importing a concept,” he said. “We carefully reinterpret every experience to reflect Saudi traditions, family values, and community preferences.”
AlFawzan disclosed that more than 60 percent of SEVEN’s offerings are locally inspired, which guarantees that each destination feels authentic, familiar, and welcoming to Saudi audiences. “Our aim is for every visitor to feel a deep sense of cultural pride and connection upon entering a SEVEN venue because, for us, entertainment reflects identity — not just leisure,” he said.
Addressing concerns about whether large-scale projects like SEVEN overshadow local businesses in favor of international brands, AlFawzan reaffirmed the company’s dedication to nurturing both.
“We firmly believe that global and local players, alongside diverse creative talent, are all essential to the success of our destinations,” he said. While SEVEN partners with renowned names such as Warner Bros. Discovery, Mattel, Flow House, Play-Doh, Clip ‘n Climb, and Hasbro, it equally prioritizes celebrating Saudi creativity.
He said that the company is actively developing original attractions and homegrown concepts across its venues by working closely with Saudi artists and entrepreneurs to bring local content and ideas to life.
“Whether through Saudi-owned offerings or regionally inspired entertainment, we are establishing platforms where local innovation can thrive alongside international intellectual properties,” AlFawzan said. “Our guests deserve an entertainment landscape that honors global excellence while remaining deeply rooted in Saudi identity, originality, and values.”
AlFawzan also said that SEVEN places sustainability and cultural connection at the core of its nationwide entertainment developments, fully aligned with Saudi Vision 2030.
“Sustainability is not an afterthought at SEVEN; it is a guiding principle embedded in every stage of our development,” he said. He detailed how the company integrates environmental responsibility from design through construction and into long-term operations, with a clear focus on minimizing environmental impact.
He said that SEVEN is targeting LEED certification across its portfolio spanning 14 cities. “To date, we have recycled more than 75 percent of construction waste and sourced over 50 percent of materials from certified green suppliers,” AlFawzan noted. He highlighted that the incorporation of high-performance solutions has led to energy savings of up to 20 percent and water savings of up to 80 percent in key project locations.
Beyond environmental stewardship, SEVEN prioritizes broader social impact through community engagement and cultural preservation. “Entertainment is a powerful catalyst for community connection and cultural pride,” AlFawzan explained.
“With over SR50 billion ($13.3 billion) invested across 14 cities, our projects are accessible within minutes or a short drive for most Saudi communities,” he pointed out. “Accessibility is at the heart of our vision: making extraordinary experiences part of everyday life.”
He also revealed that SEVEN is introducing region-first and world-first concepts to the Kingdom, including the world’s first Hot Wheels electric go-karting experience and next-generation Family Entertainment Centers that seamlessly combine physical play with digital interaction.
“But more than the rides and attractions, what truly sets SEVEN apart is our focus on culture and community,” he added.
Nova Water signs MoU with Saudi NCVC to plant 200,000 trees
Nova Water, a bottled drinking water company, has signed an MoU with the Saudi National Center for Vegetation Cover Development and Combating Desertification to plant 200,000 trees across the Kingdom by 2030.
This initiative underscores Nova’s ongoing environmental mission to reduce its ecological footprint and protect local ecosystems — while directly contributing to the overarching goals of the Saudi Green Initiative. It marks the latest step taken by the company to combat desertification, advance the development of a sustainable water ecosystem and safeguard the Kingdom’s future.
The agreement was officially signed by Dr. Khalid bin Abdullah Al-Abdulqader, CEO of NCVC, and Sulayman Serdar Seyhanli, CEO of Nova Water. The collaboration focuses on four core areas: identifying key locations for reforestation, prioritizing the use of native plant species, engaging Nova employees in afforestation activities, and supporting the rehabilitation of Saad National Park, located near the company’s facilities in Rumah, 120 km east of Riyadh.
Seyhanli said: “At Nova Water, we understand the importance of implementing innovative environmental solutions in the water sector. Our agreement with the NCVC is a testament to our unwavering support for national sustainability initiatives. Together, we are building a greener future while aligning with the ambitions of Vision 2030 and contributing to the protection and expansion of the Kingdom’s natural green cover.”
He added: “As a natural partner of the Saudi Green Initiative, this agreement represents a carefully planned execution strategy — covering irrigation, planting, and the ongoing care of seedlings across agreed-upon areas.”
Our reforestation efforts will span the next six years, from 2025 through to 2030, and will culminate in the successful planting of 200,000 trees and shrubs across Saudi Arabia. We are fully committed to seeing this goal through.”
This ambitious program seeks to create long-term environmental and social impact, including restoring native wildlife habitats, rehabilitating decertified lands, and enhancing biodiversity. Ultimately, it will support rainfall regeneration, provide shelter and food for local fauna, and contribute to rebalancing fragile ecosystems — which are the very objectives the NCVC was established to fulfill since its inception in 2021.
John Fekete joins CBRE MENA as general manager for advisory business in KSA
CBRE Middle East, a global leader in commercial real estate services, has appointed John Fekete as the new general manager for its advisory operations in Saudi Arabia.
Fekete joins CBRE from Qiddiya, where he served as the executive director of real estate strategy, spearheading the office, retail and residential strategy of one of Saudi Arabia’s most ambitious projects as part of the Vision 2030 initiative. Prior to this, he held senior positions at JLL in Saudi Arabia and Dubai, where he played a crucial role in shaping real estate strategies across the Middle East and North Africa.
Commenting on his appointment, Fekete said: “I am honored to join CBRE, a company renowned for its commitment to excellence in the real estate sector. I look forward to working with this talented team to drive growth and deliver outstanding results for our clients in Saudi Arabia, contributing to the realization of Vision 2030.”
Throughout his career, Fekete has demonstrated expertise in urban planning, transactions, property management, investment management, and strategic planning. In his previous roles, he managed real estate strategies across multiple countries in the EMEA region including his role at Citigroup as EMEA head of real estate.
Michael Young, managing director for CBRE MENA region, said: “We are delighted to welcome John to our team; his extensive experience and deep knowledge of the real estate market will be invaluable as we continue to grow our operations in Saudi Arabia and beyond.”
Anshuman Magazine, chairman and CEO for India, Southeast Asia, Middle East and Africa, added: “We are thrilled to welcome John to our team.”
A highly respected leader in the real estate industry, John brings a wealth of experience and deep market insight. His exceptional track record and strategic vision will be instrumental in driving outstanding value to our clients. We look forward to the impact his leadership will have on our advisory operations in the Kingdom of Saudi Arabia.”
Saudi 100 Brands returns to Paris Fashion Week with Tranoi Showcase
The Saudi Fashion Commission presents homegrown talents at Paris Fashion Week, to be held from June 24 to 27 at the fifth floor of La Samaritaine.
The exclusive showroom dedicated to Saudi 100 Brands, the commission’s flagship program, will highlight 11 trailblazing designers and their Spring-Summer 2026 collections.
This exceptional showcase by Saudi 100 Brands aims to provide a platform for meaningful cultural exchange through contemporary Saudi fashion.
It is part of a long-term vision — to establish the Kingdom as an essential presence in the global fashion industry.
Burak Cakmak, CEO, the Saudi Fashion Commission, said: “The return of Saudi 100 Brands to Paris Fashion Week reflects our commitment to showcasing Saudi creativity at the highest level.
“This platform not only brings our designers to a global audience but also deepens our connections with the international fashion community, reinforcing our vision to position Saudi Arabia as a driving force in shaping the future of fashion and nurturing meaningful global partnerships.”
Boris Provost, CEO of Tranoï, said: "Saudi fashion is experiencing remarkable momentum, and we are proud to support this creative energy with Saudi 100 Brands.
“At Tranoï, we are committed to amplifying the voices of emerging talents on a global scale. This collaboration with the Saudi Fashion Commission perfectly embodies our mission: to offer an international stage to a new generation of designers, here in Paris, the fashion capital of the world.”
The 11 designers presented in the renowned Parisian department store exemplify Saudi creative excellence, with a selection varying between menswear and womenswear.
Menswear designers are 1886, Awaken, Eleven, Hajruss, Mirai and RBA.
Womenswear designers are Razan Alazzouni, Rebirth, Reem Alkanhal, Waad Aloqaili and Yasmina Q
Highlighted by Saudi 100 Brands and Tranoi, the event celebrates creative boldness and reaffirms the Saudi Fashion Commission’s commitment to promoting emerging talent on the international stage.
The creative showcase is open from June 24 to 27, from 9 a.m. to 7 p.m. on the fifth floor of La Samaritaine.
