RIYADH: Morocco-based financial technology and rewards startup WafR has raised $455,000 in its latest funding round, MAGNITT reported. 

This funding will be used to support the growth of the company and meet its requirements, according to the company. 

WafR helps consumers find discounts and deals on products in local shops.

"We are very pleased with the group of investors we were able to secure in this new funding round and are proud of the strong growth experienced by WafR over the past 12 months," Ismail Bargach, co-founder of WafR said. 

The round was led by Launch Africa Ventures, First Circle Capital, WeLoveBuzz, with participation from a group of angel investors.

Apple on Monday provided a peek at upcoming tweaks to the software that powers more than 1 billion iPhones and rolled out two laptops that will be the first available with the next generation of a company-designed microprocessor. As usual, Apple spent most of the opening day of its annual developers conference touting the next versions of software for the iPhone, iPad, Apple Watch and Mac computers instead of the sleek devices that established it as a technology trendsetter and the world’s most valuable company. The iPhone’s next operating system, called iOS 16, will revamp the look of the device’s lock screen and make make mostly minor improvements to the current software. The software updates have become increasingly important in recent years as iPhone owners have started to hold to their existing devices for longer periods of time than they once did. One of iOS 16’se most noticeable differences will occur on the iPhone lock screen. The new software, which will be released this fall as a free download, will allow users to anchor their favorite apps as small widgets on the lock screen. The new software also will enable the lock screen to display live notifications, such the status of a Uber ride on its way to pick up a passenger. Other authorized notifications will come in from the bottom of the screen instead of the current distribution from the top in an effort to avoid clutter on the display. The iPhone’s messaging system will be revamped so texts can be edited after they are sent or even rescinded in their entirety if the sender has a change of heart. Those options will only be available when both users are using Apple’s messaging app for texting. The Apple Pay service that’s part of the iPhone’s digital wallet is adding a new financing feature likely to be popular as soaring inflation rates squeeze more household budgets. The option will allow consumers to stagger the cost of any purchase made through Apple Pay over four installments completed within a six-week period with no additional fees. Similar financing is already offered through digital services such as Affirm, whose stock price sank by more than 5 percent Monday after the news about Apple Pay came out. Several of the new features for Apple’s Macs and iPads are designed to make it easier to sync with the iPhone for things like making video calls. Other tools will enable more apps to run side by side to perform multiple tasks on the same screen. Helping people toggle from one Apple device to another is one of the main reasons that the company began making Macs that run on the same kind of chips that power the iPhone and iPad in late 2020. Now Apple in putting the next generation of its Mac chip in it two most popular laptops, the MacBook Air and MacBook Pro, which the company said will be available in stores at some point next month. The MacBook Air will sell for $1,200 and the MacBook Pro will sell for $1,300. The event was held at Apple headquarters in Cupertino, California.

RIYADH: The traditional concept of tourism is now radically changing as many countries are gradually and earnestly promoting and investing in sustainable travel.

But what is sustainable tourism, and why is there such a big hype among countries eager to attract tourists to their natural and untouched habitats?

According to the UN Environment Program and UN World Tourism Organization, sustainable tourism is defined as “tourism that takes full account of its current and future economic, social and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities.”

To underline the importance of sustainable tourism, the UNWTO is holding its 116th session in Jeddah from June 7-8. The main theme naturally is sustainable tourism. 

Proudly sharing TRSDC experience 

The host country Saudi Arabia will surely highlight its achievement in enhancing and promoting sustainable tourism with special emphasis on the Kingdom’s pride — The Red Sea Development Co.

TRSDC plans to open three hotels this year and add 13 more by the end of 2023. The ambitious projects aim to create 120,000 jobs and add SR30 billion to the Kingdom’s gross domestic product, according to the company. Brands already on board include St Regis, Six Senses and more ultra-luxury hotel concepts focusing on sustainability.

The company has achieved an overall score of 91 out of 100 in last year’s environmental, social, and governance assessment by the Global Real Estate Sustainability Benchmark, beating the score of 84 it accomplished in its first-ever assessment in 2020.

In November 2021, the company was given the ESG Initiative of the Year award at The Chartered Governance Institute UK & Ireland’s 2021 Awards.

This followed TRSDC’s launch of its Good Governance Toolkit to guide other organizations in Saudi Arabia on best governance practices.

The company’s top executives realize that safeguarding and developing the landscape and shores of Saudi Arabia’s Red Sea is essential to attract tourists who appreciate the earth’s hidden natural treasure.

Not surprisingly, all hotels and sea resorts, both inland and on the islands, must comply with the strict environmental rules and conditions set by TRSDC. 

“Sustainability will set us apart… The Red Sea concept is all about building and working with nature,” said John Pagano, CEO of TRSDC, in an interview with Arab News. “Coral reef systems are there. For us, the goal is how to deliver what we need without impacting the environment. My visitors will get to truly immerse themselves in nature.”

AMAALA, under TRSDC’s directive, will also open eco-friendly resorts with an added focus on wellness. The project’s first phase, which includes nine resorts, aims to be complete by the end of 2024. 

It is a total focus on protecting the environment, Ahmad Ghazi Darwish, the chief administrative officer at TRSDC and AMAALA, commented.

TRSDC’s drive to meet sustainable tourism criteria  

In its efforts to achieve environmental excellence, TRSDC developed an Environmental Management System, producing an EMS Manual in January 2021. The EMS was rolled out companywide by midyear 2021, supporting the company’s bid for The Red Sea Project to achieve ISO14001:2015 certification.

“TRSDC’s EMS is aimed at guiding and managing TRSDC’s activities with respect to the environment throughout the design, construction, and operational stages. The implementation of the EMS allows TRSDC to identify areas in need of improvement and actively work toward bettering them,” according to the company.

In 2021, the organization became one of the first companies in the Middle East to achieve the ISO 9001:2015 certification for quality management for the design and construction of assets.

TRSDC has also signed a memorandum of understanding with social investment company Ethmar and private foundation Ghoroos that will support TRSP’s social development objectives in numerous ways, including studying and implementing agricultural development opportunities in the project area and helping to strengthen community service and volunteer work initiative.

TRSDC partners with Red Sea Farms 

The company has also partnered with Red Sea Farms, a Saudi Arabian ag-tech business, to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater.

Red Sea Farms will build and operate the indoor farm, growing crops to sustainably feed guests and residents at The Red Sea Project. It will become the main supplier to the luxury destination’s resorts and restaurants.

The innovative technology uses sunlight and saltwater to cool greenhouses and grows crops instead of relying on rainfall, fresh groundwater, or desalinated water. This saves up to 300 liters of fresh water per kilogram of produce — a 95 percent saving compared with other ag-tech systems. In addition, the technology has been designed and developed in the Kingdom for use in often challenging environmental conditions.

“This means a reduced impact on the environment and a significant cost saving for growers. It also results in more nutritious crops while also providing a richer taste, flavor and texture,” according to TRSDC.

Partnering with Blue Planet Ecosystem

The company’s endeavor to protect the Kingdom’s ecology was also climaxed by another MoU with Blue Planet Ecosystems in October 2021.

“The Land-based Automated Recirculating Aquaculture system works by replicating natural aquatic ecosystems in a modular and automated system. LARA converts carbon dioxide directly into chemical-free seafood using phyto and zooplankton as transitional stages. It is constructed of a tower of three horizontal units. The top unit uses the sun’s energy to grow microalgae which powers the entire system. The microalgae are then moved to the next unit, where it nourishes zooplankton. The zooplankton is then transported to the bottom unit, where it’s eaten by fish,” TRSDC explained.

It added that the project’s first phase would be implemented as a 3.500m2 pilot to assess whether conditions at TRSP are suitable for the solution to work effectively and efficiently. This will be the first LARA pilot in the Middle East to undergo a commercial trial.

Last year, TRSDC made great strides in its mission to build the world’s largest tourism spot powered by renewable energy on Saudi Arabia’s west coast.

In December 2021, a Saudi ACWA Power-led consortium secured $1.33 billion of financing to operate the renewable power-based multi-utilities infrastructure that will serve the site.

The multibillion-dollar project, based between Umluj and Al Wajh, covers 28,000 sq. km — an area the size of Belgium — which includes over 90 untouched islands, miles of desert dunes and mountain landscapes.

RIYADH: As the world turns its attention toward a sustainable future, Saudi Arabia, the world’s biggest oil exporter, has taken the lead in transforming a historic city into an ecological landmark for the world to see.

With the Diriyah Gate Development Project, the Kingdom has left no stone unturned to emerge as a global tourism destination envisioned in its Vision 2030 blueprint.

The project stands tall as it blends several elements, including ecotourism, urban development, economic growth, and proclaiming the Kingdom’s culturally rich past.

It is currently burning the proverbial midnight oil to carefully devise an environmental strategy that strikes an ideal balance between tourism and the city’s rich legacy.

To achieve this goal, the Diriyah Gate Development Authority is creating a dedicated ecotourism area to the south of the city, where the Barari Diriyah Wildlife Conservation Center and Palm Heritage Center for Research and Development are located.

The DGDA recently signed a memorandum of understanding with the Oil Sustainability Program to promote the usage of sustainable polymer construction materials in the ongoing project.

Under the supervision of the Ministry of Energy, the OSP ensures hydrocarbons remain part of the global energy mix most efficiently and sustainably.

As part of the MoU, DGDA would use the sustainable polymer to restore and renovate the ancient city using the traditional Najdi architecture principles that have given the Kingdom’s central region its unique long-held identity. 

Another interesting aspect of the project is that it has placed people at the heart of its development.

The authority is also planning to make people aware of the vitality of protecting the environment and maximizing the economic return from the city, which will soon emerge as a top-class tourist destination.

“We at Diriyah are within the intersection of multiple issues, contemplating innovative yet practical ways to create the right solutions. Some of these issues deal with environmental sustainability, and others relate to maximizing the economic return from cities as tourist destinations,” said DGDA said in a statement.

It added: “Other issues concern how to raise awareness of people’s ecological conduct and impact, including administering legislation — both existing and desired — that governs, or should govern, human environmental conduct based on sustainable objectives, requirements, and standards.”

According to the DGDA, the project, upon completion, is expected to attract over 7 million tourists a year, a number that is in line with the objectives of Vision 2030, which aims to build a sustainable economy, lively environment, and bustling society, all within the Kingdom.

The DGDP holds substantial historical and cultural significance, mainly because the Turaif district was the first capital of Saudis.

Speaking at the recently concluded Future Hospitality Summit, Jerry Inzerillo, group CEO of DGDA, revealed that 36 percent of the workers involved in the project are women.

He added that 16 percent of the women’s workforce operates in the management sector.

Inzerillo also revealed that 40 percent of the Diriyah Gate Project workforce is from the Diriyah local community.

During the interview, he stated that the project would have 20,000 residential units upon completion, and the contracts to build these settings are being awarded to Saudi builders.

DGDA recently also teamed up with the international luxury hotel Four Seasons to build a new hotel at the site located in Riyadh.

The hotel will have 150 rooms and suites, expansive meeting and event spaces, a wellness spa and a fitness center.

“Four Seasons is working alongside DGDA to elevate what travelers can experience within Diriyah, showcasing their timeless approach to hospitality while staying true to Diriyah’s rich cultural past,” Inzerillo explained.

The hotel will be located adjacent to Diriyah’s culturally rooted district along the Wadi Hanifah escarpment, with incredible views towards the west and the UNESCO World Heritage Site, At-Turaif.

DUBAI: Global tourism received a significant boost as international tourist arrivals registered a 182 percent increase to an estimated 117 million in the first quarter of 2022 from about 41 million in the year-ago period.

Out of the roughly 76 million new additions in international arrivals, 47 million were booked in March 2022, revealed a UN World Tourism Organization study.

According to UNWTO World Tourism Barometer, Europe led the pack with a 280 percent rise in tourist arrivals between the first quarter of 2022 and the corresponding duration last year.

The barometer, which periodically monitors short-term international tourism trends, further revealed that the Middle East came a close second with a 132 percent growth, followed by the Americas, which recorded a 117 percent rise during the period under study.

However, international arrivals in Europe, the Middle East, and the Americas remained 43 percent, 59 percent, and 46 percent below 2019 levels. 

Inbound tourist arrivals in Africa remained encouraging, with 96 percent year-on-year growth in the first quarter of 2022, but they are still 61 percent below the 2019 levels.

The Asia-Pacific region has also witnessed a moderate growth of 64 percent despite a sizable number of destinations closed for non-essential travel.

The prospects, however, look brighter with destinations relaxing or lifting travel restrictions. The UNWTO report augured that international tourism is expected to recover gradually in 2022 even though it remained 61 percent below 2019 levels.

As of June 2, 45 destinations, including 31 in Europe, did not have any COVID-19 restrictions. In addition, a growing number of Asian destinations have also begun to ease curbs, the UNWTO report stated.

However, the only snag in the joyride is the challenging economic scenario followed by the ongoing military offensive of the Russian Federation in Ukraine, the data stated.

The Russian offensive also disrupted travel throughout Eastern Europe but, to date, seems to have had a little direct effect.

The report also estimated that $2 billion was lost in export revenues from international tourism since the first year of the pandemic.

The data showed that revenue from tourism, including passenger transport, reached SR2.67 trillion ($713 billion) in 2021, a 4 percent increase in real terms from 2020 but still 61 percent below the 2019 level.

In the Middle East and Europe, earnings climbed to about 50 percent of pre-pandemic levels, according to the UNWTO.

The data said that spending per trip also rose from SR3,750.66 in 2019 to SR5,250.93 in 2021.

What’s also upbeat about the global travel trends is the UNWTO Confidence Index which showed a marked improvement. For the first time since the pandemic, the index returned to levels of 2019, reflecting rising optimism among tourism experts worldwide.

Much of the solid pent-up demand was driven by intra-European travel and US travel to Europe.

Hope for a better tomorrow

According to the latest UNWTO Panel of Experts survey, 83 percent of the tourism professionals see better prospects for 2022 than 2021, as long as the virus is contained and destinations continue to ease or lift travel restrictions.

Also, 48 percent of the professionals see a potential return of international arrivals to 2019 levels in 2023 compared to the 32 percent of the participants in the January survey.

However, 44 percent of the people surveyed believed that the turnaround would only happen in 2024, compared to the 64 percent polled in January this year.

Meanwhile, by the end of April, international air capacity across the Americas, Africa, Europe, North Atlantic and the Middle East has reached close to 80 percent of pre-crisis levels, and demand is following.

These numbers are a sea change from the January report of WTO, which reported a 4 percent upturn in 2021 to 415 million international tourist arrivals compared to the 400 million in 2020.

In January 2022, international tourist arrivals were still 72 percent below the pre-pandemic year of 2019, according to the estimates by UNWTO. And this was a follow-up over 2020, the worst year on record for tourism when international arrivals decreased by 73 percent.

RIYADH: The Saudi-Jordanian Investment Fund, backed by the Public Investment Fund, has signed an agreement with Jordan to invest $400 million in a healthcare facility in the country. 

The project aims to transfer global knowledge to Jordan and improve the quality of healthcare and medical education in the country, according to Almamlaka. 

It includes the establishment of a university hospital with a capacity of 300 beds, 60 outpatients clinics, specialized children’s hospital, emergency care and a medical university with a capacity of 600 seats, the Prime Minister’s Office reported in a tweet. 

Prime Minister Bishr Al-Khasawneh said: “As we enter the country’s second centenary, we accept with confidence to invest the energies of our young men and women in leadership and creativity in various fields, especially the economic ones.”

The project is expected to provide over 5,000 job opportunities, Almamlaka reported. 

The investment fund was established by the PIF, which owns 90 percent of its share capital, along with 16 Jordanian banks.