Flydubai has announced its annual results for the period ending Dec. 31, 2019. The airline reported a total annual revenue of 6 billion dirhams ($1.6 billion), as opposed to 6.2 billion dirhams last year, a decrease of 2.6 percent compared to the same period the previous year. Flydubai reported a profit of 198.2 million dirhams.
Ghaith Al-Ghaith, chief executive of Flydubai, said: “We have had to manage a number of unprecedented issues faced by the aviation industry. Our results demonstrate that we have capitalized on the strong fundamentals in our business, but it is regrettable that our growth strategy has been significantly impacted by the grounding of the Boeing 737 Max.”
“Whilst 2019 has seen a return to profitability it does not reflect the loss of market position and the unfilled opportunities Flydubai could have exploited.”
Commenting on reaching an interim settlement agreement with Boeing, Al-Ghaith said: “We have concluded an interim settlement agreement with Boeing for certain compensation due to Flydubai in relation to the grounding of the Boeing 737 Max. The details of the interim settlement agreement remain confidential. This agreement has contributed toward this year’s results, but in no way can it compensate for the loss of business opportunity or market share experienced by the airline. Discussions are continuing between the parties regarding the ongoing impact of the grounding.”
Francois Oberholzer, chief financial officer of Flydubai, said: “We have had to be even more flexible with the abrupt interruption of our growth and fleet strategy. We have kept a firm grip on the business against the continued uncertainty created by the grounding. Direct operating costs reduced by 17.8 percent, whilst we saw double digit growth in our yields minimizing the reduction in revenue to 2.6 percent compared to a fall in capacity of 15.8 percent. Furthermore, we successfully refinanced our debut 2014 sukuk (Islamic bonds) during this financial year.”
The airline carried 9.6 million passengers in 2019.
Flydubai sees return to profitability in 2019
https://arab.news/jhezb
Flydubai sees return to profitability in 2019
Mobily achieves fastest response time for online gaming, live streaming, and video calling
Etihad Etisalat Company, known as Mobily, has announced that it ranks first among Saudi telecom companies in response time for online gaming, live streaming, and video interactions. This recognition is based on reports issued by global platforms that measure latency and digital performance.
Nezar Banabeela, Mobily CEO, said: “We are proud of this achievement, which is one of the outcomes of Mobily’s continued investments in enhancing its digital infrastructure. These efforts have successfully reduced latency, enabling our customers to engage in real-time digital experiences and enjoy improved service quality that aligns with the world’s best practices.”
He added: “Mobily remains committed to advancing and enhancing its services by offering the latest technologies and solutions. Fast video loading and real-time interaction are essential for customer satisfaction and maintaining a presence on live-streaming platforms.”
To mark this milestone, Mobily launched a campaign titled “A leading Network,” inviting customers to enjoy low latency on its network and leverage cloud-based applications and IoT services for greater productivity and more efficient business operations.
Mobily’s reduced latency has enhanced user experiences in multiplayer gaming and video-on-demand streaming on mobile networks. It has also enabled seamless remote work environments, supporting smooth virtual meetings and empowering organizations to make swift decisions on urgent matters.
Moreover, Mobily’s ultra-low latency network is unlocking new possibilities across key sectors, including healthcare, education, business, entertainment, and finance. The financial sector, in particular, has been able to enhance customer experiences by accelerating digital services, delivering greater value with improved efficiency and lower costs, while also fostering continuous innovation and adaptability to evolving customer needs.
Video calling and gaming applications demand latency levels under 30 milliseconds in standard operating conditions to ensure data accuracy. Mobily’s network also offers high upload speeds suitable for video conferencing, cloud backups, file sharing, and social media content creation.
Mobily continues to invest in its digital infrastructure to strengthen Saudi Arabia’s position as a regional and global digital hub, recognized for innovation and technology excellence.
Lulu’s ‘Australia Week’ showcases growing bilateral trade
Lulu Retail has officially launched “Australia Week 2025” across all its stores in Saudi Arabia, celebrating the strong partnership between Saudi Arabia and Australia in food security and trade.
The event was inaugurated at Lulu’s Diplomatic Quarter branch in Riyadh by Australian Ambassador to Saudi Arabia Mark Donovan, in the presence of Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, senior officials from the Australian Embassy, and top executives from Lulu.
Running until May 17, Australia Week 2025 showcases more than 960 high-quality Australian products from 129 leading brands. Shoppers can explore a curated selection of premium meats, fresh fruit and vegetables, dairy, frozen items, canned goods, and health-oriented foods. This week-long event highlights Australia’s reputation for clean, green, and sustainable food production.
The initiative coincides with Australia’s participation in the Saudi Food Show and the in-store promotions are designed to complement Australia’s broader market engagement and deepen trade links with Middle Eastern markets.
“In Australia, we value our close relationship with Saudi Arabia,” Donovan said.
Australia Week is a great opportunity to introduce our premium products to Saudi consumers. Lulu Retail is a strategic partner in this effort, and we are proud to present this diverse selection of Australian products to their customers.”
Mohammed added: “At Lulu, we are committed to offering a rich and diverse shopping experience to customers in Saudi Arabia. Australia Week is part of that commitment. Through our partnership with Australia, we are able to provide a selection of high-quality products that align with Saudi tastes and nutritional needs. We are excited to share these exceptional items with our customers.”
Bryony Hilless, Australian consul general to Dubai and Austrade general manager for the Middle East, said: “As the Middle East’s population grows and consumers increasingly demand high-quality and reliable food and beverages, Australia has become a secure and trusted exporter to the region.
We’re proud to partner with Lulu Hypermarkets to showcase much-loved Australian products in-store and to support Australian producers to connect and grow export partnerships in the region.”
Austrade Trade and Investment Commissioner Todd Miller highlighted the strategic opportunity of engaging with the Saudi market, saying: “Australian producers are known the world over for high-quality products produced in sustainable and ethical ways. With Saudi Arabia’s Vision 2030 transforming the Kingdom’s food and beverage landscape, there are unparalleled opportunities for Australian exporters to provide the innovative, premium products the dynamic food market needs.”
Globant takes Saudi Pro League into new era of sports
Globant, a digitally native company focused on reinventing businesses through innovative technology solutions, has partnered with Saudi Pro League to implement the cutting-edge Competition Management Solution provided by Sportian, Globant’s sports division.
With the new platform, future SPL seasons will be managed through a digital ecosystem. With the help of AI and data analysis tools, the system will speed up previously manual tasks with the ability to detect and correct human error, significantly reducing manual tasks and allowing competition staff to focus on innovation.
The Competition Management Suite enables seamless digital enrollment of players, automated registration of new signings, and real-time match day operations — including lineup submissions, referee assignments, kit selection, and compliance processes. Designed with security at its core, the system also safeguards sensitive data to protect the integrity of the competition and the privacy of all participants.
“We aim to support the fast growth of our competition with technology innovations that can enhance the sporting spectacle and help clubs perform to their best. The platform provided by Globant Sportian will provide a huge boost to our efficiency and take away unnecessary complexity, allowing our teams to focus on what they do best, play and enjoy football,” said Omar Mugharbel, CEO of Saudi Pro League.
“We are proud to bring our global expertise in digital reinvention to the MENA region, where the transformation of the sports, media, and entertainment industries is happening at an unprecedented pace,” said Federico Pienovi, CEO and CBO of new markets at Globant. “Through Sportian — Globant’s sports division — we are delivering a state-of-the-art solution that will redefine how football organizations operate — managing complex processes from calendar selection to legal compliance. This is more than digital transformation; it’s about helping visionary partners like the Saudi Pro League lead a new era of intelligent, connected, and data-driven sports.”
Globant Sportian offers end-to-end digital solutions for sports federations and leagues, including LALIGA, MotoGP and Belgian Pro League, among others, delivering specialized products that manage complex workflows such as fixture scheduling, compliance, and operational intelligence.
“This milestone marks the beginning of Globant’s journey in bringing cutting-edge technology to Saudi Arabia’s thriving sports ecosystem,” said Mamdouh Aldoubayan, managing director of MENA at Globant. “By digitizing core competition workflows and leveraging AI, we’re enabling the Saudi Pro League to operate with greater speed, transparency, and precision. This partnership highlights our commitment to building smart, scalable infrastructure aligned with Vision 2030 and the Kingdom’s ambitions in the global sports arena.”
This agreement reflects Globant’s continued expansion in the Middle East and its growing role as a trusted technology partner for forward-thinking sports organizations worldwide.
The Saudi Pro League is the premier football league in the Kingdom and holds the distinction of being the highest-ranked league in Asia, as recognized by the Asian Football Confederation.
SAB named ‘best bank in Saudi Arabia’ for sixth year in row
Saudi Awwal Bank has been recognized as the “Best Bank in Saudi Arabia for 2025” by Global Finance magazine, for the sixth consecutive year. This prestigious accolade highlights SAB’s leadership in the Saudi banking sector and reaffirms its ongoing commitment to delivering innovative financial services that meet the evolving needs of its customers while supporting the ambitious goals of Vision 2030.
This recognition is a testament to the confidence the financial sector places in SAB. Over the past years, the bank has solidified its position as a high-performing financial institution through continuous growth in assets and profitability, expanding its customer base, and adopting cutting-edge financial technologies that enhance the customer experience.
SAB was selected for this award by a panel of international financial experts, who based their decision on a comprehensive set of criteria, including financial performance, business growth, service quality, digital transformation initiatives, risk management practices, and sustainability strategies.
Tony Cripps, managing director and CEO of SAB, said: “This recognition is a testament to the dedication, commitment, and hard work of all our employees in delivering the best banking experience for our customers. It also underscores our ability to adapt to the rapid transformations taking place in the financial sector and reflects our success in implementing a strategy focused on customer-centricity and sustainable innovation.”
He added: “We remain committed to continuously enhancing and evolving our financial services to create a holistic banking experience that empowers our customers to achieve their goals, while also strengthening our contribution to the growth of the Saudi economy.”
SAB continues to reinforce its position as a leading financial institution through its adoption of the latest banking technologies. Guided by a strategy aligned with national economic priorities and social responsibility, the bank plays a vital role in driving development and empowering the financial sector in the Kingdom.
Magrabi Health celebrates 70 years with eye on future
Magrabi Health marked its 70th anniversary, celebrating a legacy of pioneering medical innovation, regional leadership, and a steadfast commitment to patient-centric care across the Middle East.
The milestone honors the vision of the late Dr. Amin El-Maghraby, Saudi Arabia’s first ophthalmologist, who founded the region’s first private specialized eye center in 1955. It also pays tribute to Dr. Akef El-Maghraby, who expanded the legacy with the launch of the region’s first private eye hospital in 1975. Today, Magrabi Health operates more than 40 hospitals and medical centers across Saudi Arabia, the UAE, Qatar, Egypt, and Yemen, providing specialized services in eye, ENT, dental, and most recently, aesthetics through its Mayam Aesthetics brand.
As a market leader in ophthalmology in Saudi Arabia, Magrabi Health screens more than 2 million patients annually and performs over 200,000 surgeries across the region. With its proven business model and market insights, the organization is expanding its success into dentistry and ENT. From just seven dental clinics, Magrabi Health now operates 200 dental chairs and is accelerating its growth through strategic acquisitions and expansion plans.
Magrabi Health has a long-standing legacy of groundbreaking medical milestones. It was the first in the region to perform a corneal transplant, and the first in the Middle East — and second globally — to conduct LASIK surgery. It is also a pioneer in cataract procedures.
Mutasim Alireza, chief executive of Magrabi Health, said: “As we celebrate 70 years of service, we do so with deep gratitude for the trust of our patients and the dedication of our teams. Our continued growth reflects our commitment to combining clinical excellence with personalized, high-quality care across the communities we serve.”
He added: “Looking ahead, our focus remains on expanding access to specialized care through new centers, strategic partnerships, and innovation. With continued investment in digital transformation and subspecialty expertise, we aim to ensure every patient receives expert, compassionate, and individualized care.”
As part of the anniversary celebration, Magrabi unveiled the “70-Year Shield,” symbolizing “70 Years of Trust, Built Around You.”
Dr. Abdulrahman Barzangi, deputy CEO and COO, said: “Innovation has been central to Magrabi Health’s leadership. From early adoption of AI-powered diagnostics to integrating the latest medical technologies, we continue to set new standards in patient care.”
He also noted the organization’s strong commitment to social responsibility, saying: “We actively deliver free community screenings, support public health initiatives, and partner with charitable organizations to expand access to quality care. Through outreach and education, we strive to uplift the communities we serve.”
