Kerten Hospitality Launches Initiative to Unify, Strengthen its 12+ Lifestyle Projects in Saudi Arabia

Kerten Hospitality, the renowned global hospitality operating company, announced on Monday the launch of its brand-new initiative named "The Collective by Kerten Hospitality".
Kerten Hospitality, the renowned global hospitality operating company, announced on Monday the launch of its brand-new initiative named "The Collective by Kerten Hospitality".
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Kerten Hospitality Launches Initiative to Unify, Strengthen its 12+ Lifestyle Projects in Saudi Arabia

Kerten Hospitality, the renowned global hospitality operating company, announced on Monday the launch of its brand-new initiative named "The Collective by Kerten Hospitality".
Kerten Hospitality, the renowned global hospitality operating company, announced on Monday the launch of its brand-new initiative named "The Collective by Kerten Hospitality".

Kerten Hospitality, the renowned global hospitality operating company, announced on Monday the launch of its brand-new initiative named "The Collective by Kerten Hospitality". This project aims to group together all of the Kerten Hospitality’s developments in Saudi Arabia under one umbrella.

The Collective represents a strategic move to cluster efforts and resources, leveraging a more robust overall brand presence to drive consumer trust and credibility while attracting the attention of potential investors.

The combined value of the projects within The Collective by Kerten Hospitality is projected to surpass 1.5 billion SAR in 2023, underscoring the remarkable investment and commitment towards developing a wide range of sustainable and distinctive tourism experiences in Saudi Arabia.

As the Kingdom aims to attract a growing number of tourists and investors, the accomplishments of The Collective will contribute significantly to the expansion of the tourism sector and further establish Saudi Arabia as a top destination featuring a thriving and eco-friendly tourism industry.

Aimed at expediting the activation of unique assets throughout the Kingdom, The Collective by Kerten Hospitality will provide individual investors with increased confidence to enter the burgeoning hospitality market.

In addition, The Collective is expected to stimulate short-term growth in lifestyle and sustainability projects and present unprecedented investment opportunities across the Kingdom while building synergies in line with the Ministry of Tourism’s development strategy, from Aseer to Yanbu and Jeddah to Riyadh, Hail and Jouf.

This cohesive platform will enhance visibility for each property and inspire travelers to explore the breadth of Kerten Hospitality's offerings within Saudi Arabia. This approach is also set to streamline the integration of new projects and foster collaboration among investors, ministries, and governmental bodies, sparking interest in further fund developments.

Marloes Knippenberg, the CEO of Kerten Hospitality, said: "The Collective by Kerten Hospitality is a testament to the progressive vision of the Saudi government and the Ministry of Tourism, as it allows us to drive forward such remarkable projects."

"Not only does it showcase the strength of Kerten Hospitality's diverse portfolio in Saudi Arabia, but it also presents a unique opportunity for investors, significantly enhancing the visibility of our projects while inspiring travelers and fostering a sense of community among our properties."

"As the hospitality landscape in Saudi Arabia continues to evolve, we believe that The Collective will drive growth, create synergies, and offer attractive investment prospects for forward-thinking investors seeking to capitalize on the dynamic potential of this thriving market. We are confident that this approach will position Kerten Hospitality and its partners at the forefront of Saudi Arabia's dynamic and increasingly competitive hospitality landscape."

The Collective aims to provide confidence for individual investors entering the industry, support the growth of more lifestyle projects in the Kingdom, and create a lasting impact on Saudi Arabia's hospitality landscape.

The Saudi Ministry of Tourism is actively fostering a supportive investment environment, particularly in the hospitality sector, to drive economic growth and enhance the nation's position as a premier global tourism destination.

Mahmoud Abdulhadi, Deputy Minister of Destination Enablement at the Ministry of Tourism said: "Our efforts to grow the tourism sector in the Kingdom have been strategically focused on promoting multiple cities and showcasing the diverse natural and cultural experiences they offer, while also emphasizing sustainability."

"We believe that by concentrating on lifestyle opportunities across various destinations, we can create a more vibrant and appealing tourism landscape that respects our environment and natural resources. This approach not only encourages visitors to explore different parts of Saudi Arabia but also fosters sustainable growth for the industry, ultimately benefiting local communities and businesses," he added.

"We remain committed to working closely with our partners, such as Kerten Hospitality, to bring innovative, exciting, and sustainable projects to fruition, further bolstering the Kingdom's position as a sought-after, responsible tourism destination."

Kerten Hospitality, a global hospitality company, specializes in creating, operating, and managing bespoke lifestyle projects across various sectors. With a commitment to innovation and sustainability, Kerten Hospitality's portfolio includes hotels, serviced apartments, serviced office spaces, and food and beverage projects. The company's mission is to create unique experiences that inspire travelers and redefine how people live, work, and explore the world.



Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)
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Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)

Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday.

According to Reuters, Iraq is pushing for a higher OPEC production quota as the economic fallout from the Iran war and new investment by oil majors increase pressure on Baghdad to boost output, potentially putting it at odds with the producer group.

The conflict has hit Iraq particularly hard, forcing major export cuts and depriving the state of oil revenue, which accounted for 88% of government income last year.


IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
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IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International Monetary Fund Managing Director Kristalina Georgieva said on Friday.

Georgieva said concerns about dependence on the AI investment boom and high valuations were impacting markets around the world.

"Things are going up and down, and this is likely to continue," she told an audience at IMF headquarters in Washington, adding that the volatility would complicate the job of central banks at a time when risks to price stability had been growing.

A steep rout in technology stocks on Thursday rippled through markets on fears that ⁠the Democrats' victory ⁠in the US midterm elections would increase regulatory scrutiny of AI and slow the data center build-out, sending investors to the safety of bonds.

The political jitters are hitting an AI trade already on shaky footing due to worry about return on massive spending on AI-related infrastructure, with the meltdown spurring margin calls and spooking retail investors and hedge ⁠funds alike.

Georgieva said the AI investment boom was lifting growth in some countries, helping to offset a negative oil-supply shock triggered by the war in the Middle East, but it was also adding to inflationary pressures and financial stability concerns.

The IMF last month flagged significant growth and financial stability risks from a potential ending of the AI investment boom, among other factors, including a prolonged Middle East war. At the time, it warned that a steep drop in AI investment could lead to a sharp fall in asset prices, ultimately cutting global GDP ⁠by 1.1% ⁠by 2028, including a 1.8% drop in US output.

Georgieva did not repeat the downside forecast on Friday, but acknowledged the recent market volatility.

"Should there be a slowdown in the AI-driven growth impulse, it would need to be factored in as central banks assess the necessary steps in the fight against stubborn inflation," she said.

Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the US Congress in January, Reuters reported on Friday, citing congressional aides and advocates.

That would mark a sharp shift from the Republican-led Congress, where lawmakers largely focused on promoting AI development and declined to pass legislation restricting the technology.


World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
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World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, ‌averaged 133.9 points ‌in October, down from a revised ‌135.6 ⁠in September.

The index ⁠was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.

FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year ago, as wheat and maize quotations declined. Wheat prices eased on weak import demand ⁠and improved production prospects, especially in Argentina.

"Expectations of ‌easing constraints on Black ‌Sea export flows added to the downward pressure on prices, ‌although continued disruptions to Black Sea logistics limited the decline," ‌FAO said in a statement.

Maize prices also eased after reaching a three-year high in September, pressured by the US harvest, expectations of ample supplies in South America and renewed ‌prospects of easing tensions in the Black Sea region.

Vegetable oil prices edged up 0.3%, ⁠as ⁠higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices.

Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil. They were now 28.8% above a year ago.

The dairy index fell 1.1%, as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder.

The meat index declined 1.2%, while still slightly above its year-earlier level, as ovine and bovine meat prices fell.