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Zoom Plans on Expanding in Saudi Arabia, Middle East

Zoom Managing Director for Middle East and North Africa (MENA) Samer Tayan, Asharq Al-Awsat
Zoom Managing Director for Middle East and North Africa (MENA) Samer Tayan, Asharq Al-Awsat
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Zoom Plans on Expanding in Saudi Arabia, Middle East

Zoom Managing Director for Middle East and North Africa (MENA) Samer Tayan, Asharq Al-Awsat
Zoom Managing Director for Middle East and North Africa (MENA) Samer Tayan, Asharq Al-Awsat

Zoom Video Communications, Inc. revealed its ambitions for greater share of the Saudi market at a time when Riyadh is focused on accelerating its digital economy and the growth of commercial activities for companies.

“The Saudi government’s drive to accelerate its digital economy gives us full confidence in the potential that this market represents for Zoom, as we are currently working to increase our presence in the region,” Zoom’s Managing Director for Middle East and North Africa (MENA) Samer Tayan told Asharq Al-Awsat.

Tayan also said that the company is looking forward to opening up offices in the Kingdom and a data center in the MENA region.

Gulf markets in general are very important to Zoom, Tayan noted, adding that it is the region's focus on digital transformation and strong interest in utilizing Zoom technology for visual communication that gives it its significance.

“Zoom, in light of the coronavirus pandemic, is helping governments and government agencies around the world to continue to perform their public duties safely and effectively, and we also feel a great responsibility,” Tayan said.

Tayan explained that although the coronavirus is a challenge for many companies, it has also created opportunities for innovation.

As countries around the world entered a state of complete lockdown, companies had to adopt and implement new technologies and transform their business models in order to ensure business continuity.

“We are optimistic about our business in the Gulf region,” Tayan affirmed.

Updated data show that free user subscription to Zoom in the UAE jumped by 105% in April 2020, compared to January 2020.

“We are working closely with the relevant authorities and telecom service providers in the UAE and Saudi Arabia, to ensure that Zoom provides its users with a safe environment for communication and cooperation while ensuring that their privacy is fully protected in accordance with state laws and regulations,” Tayan said.

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Business

Arcapita, Hines to Explore Joint investments in GCC Industrial and Logistics Real Estate

Arcapita's headquarters in Manama, Bahrain. Photo: Asharq Al-Awsat
Arcapita's headquarters in Manama, Bahrain. Photo: Asharq Al-Awsat
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Arcapita, Hines to Explore Joint investments in GCC Industrial and Logistics Real Estate

Arcapita's headquarters in Manama, Bahrain. Photo: Asharq Al-Awsat
Arcapita's headquarters in Manama, Bahrain. Photo: Asharq Al-Awsat

Arcapita Group Holdings Limited, the global alternative investment firm, and Hines, one of the world’s largest real assets investment managers, announced on Wednesday a partnership to together explore the creation of an institutional-grade platform focused on industrial and logistics real estate assets across the Gulf Cooperation Council (GCC).

The platform would seek to combine Hines’ global real estate investment, development and operating standards with Arcapita’s regional investment, structuring and asset management expertise, supported by Lintara, Arcapita’s local operating platform, a joint statement said.

Through the partnership, the two companies would focus on jointly originating, structuring and executing investments across both development opportunities and stabilized income-producing assets, it added.

Arcapita is headquartered in Manama, Bahrain. It also operates from its offices in the United States, the United Kingdom, Saudi Arabia, the United Arab Emirates and Singapore.

Hines is based in Houston, Texas.

Martin Tan, Arcapita’s Chief Investment Officer, said: “This strategic partnership marks an important step in our approach to the GCC industrial and logistics opportunity. Market fundamentals across the region have reached a depth and maturity that support the case for a dedicated, institutional-scale platform rather than a transaction-led strategy.”

“As GCC countries continue to focus on supply chain resilience and national self-sufficiency, we see a compelling opportunity to help deliver modern logistics infrastructure at scale. By bringing together Arcapita’s long standing regional track record, sourcing and asset management capabilities with Hines’ globally recognized development expertise, the platform would be well positioned to pursue high-quality opportunities across the sector.”

As for Hines’ Global Head of Real Estate, Steve Luthman, he said that the GCC represents one of the most compelling logistics growth markets globally.

He welcomed “the opportunity to partner with Arcapita to explore the development of a structured, platform-led entry into a rapidly growing market, backed by deep local relationships and execution capability.”

Business

Airlines Should Still Avoid Airspace Over Iran After Framework Deal, EU Agency Warns

A Kish Air Airlines McDonnell Douglas MD-82 passenger aircraft prepares for landing at Tehran's Mehrabad Airport on June 20, 2026. (AFP)
A Kish Air Airlines McDonnell Douglas MD-82 passenger aircraft prepares for landing at Tehran's Mehrabad Airport on June 20, 2026. (AFP)
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Airlines Should Still Avoid Airspace Over Iran After Framework Deal, EU Agency Warns

A Kish Air Airlines McDonnell Douglas MD-82 passenger aircraft prepares for landing at Tehran's Mehrabad Airport on June 20, 2026. (AFP)
A Kish Air Airlines McDonnell Douglas MD-82 passenger aircraft prepares for landing at Tehran's Mehrabad Airport on June 20, 2026. (AFP)

Airlines ‌should continue to avoid the airspace over Iran, Iraq and Lebanon and remain cautious across the region despite the framework deal between Washington and Tehran, because violations remained possible, the ‌EU aviation safety ‌agency EASA said.

EASA ‌said ⁠on Wednesday it ⁠was extending its conflict-zone advisory for the region until July 1.

Short-term violations of the US-Iran ceasefire remain possible, ⁠in particular in ‌and ‌around the Strait of ‌Hormuz and neighboring airspace, the ‌agency said.

The agency also flagged the fragile ceasefire between Israel and Hezbollah, creating ‌the potential for military activity impacting the airspace ⁠of ⁠Lebanon.

Business

Al-Jadaan: Economic Resilience, Partnerships Are Key to Meeting Global Development Challenges

Saudi Finance Minister Mohammed Al-Jadaan addresses the OPEC Fund Development Forum in Vienna. (X)
Saudi Finance Minister Mohammed Al-Jadaan addresses the OPEC Fund Development Forum in Vienna. (X)
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Al-Jadaan: Economic Resilience, Partnerships Are Key to Meeting Global Development Challenges

Saudi Finance Minister Mohammed Al-Jadaan addresses the OPEC Fund Development Forum in Vienna. (X)
Saudi Finance Minister Mohammed Al-Jadaan addresses the OPEC Fund Development Forum in Vienna. (X)

Saudi Finance Minister Mohammed Al-Jadaan warned that the world is facing increasingly difficult economic conditions shaped by uncertainty, fragmentation, geopolitical conflicts, trade tensions, debt risks, and challenges related to energy security and broader security concerns, factors he said threaten to undermine global development goals.

Addressing the OPEC Fund Development Forum in Vienna, held to mark the 50th anniversary of the OPEC Fund for International Development (OFID), Al-Jadaan described the milestone as an opportunity not only to celebrate the institution’s achievements over the past half-century, but also to reflect on lessons learned and consider the challenges and opportunities that lie ahead.

Over the past five decades, the OPEC Fund has helped tackle some of the world’s most pressing development challenges, supporting sustainable development, economic growth, and prosperity while improving living standards in low- and middle-income countries, he noted. Its efforts have enabled millions to gain access to electricity, quality education, and clean energy solutions, while expanding economic opportunities and improving essential services.

Al-Jadaan outlined three priorities for preventing setbacks in global development progress.

The first is placing resilience at the center of development strategies. Rather than serving merely as a response to crises, resilience must become a long-term, proactive approach.

Building systems capable of withstanding shocks requires investment in infrastructure, energy, food security, healthcare, education, and institutional capacity, he argued. It also demands inclusive policies tailored to local needs that diversify sources of income, improve livelihoods, and stabilize fragile markets.

The second priority is strengthening partnerships. No country can confront development challenges alone, Al-Jadaan said, emphasizing the critical role of development finance institutions in mobilizing resources, sharing knowledge, and fostering innovation. The private sector, he added, remains essential for driving investment, creating jobs, and delivering practical solutions.

Greater cooperation among development partners can improve coordination, attract additional capital, and maximize development impact.

Turning to his third priority, Al-Jadaan stressed that trust and national ownership must remain at the heart of development efforts. Development financing is most effective when aligned with national priorities, responsive to local realities, and built on genuine partnerships.

Expanding the OPEC Fund’s activities and deepening cooperation with partner countries would help align financing strategies with national development plans, improve the efficiency of resource allocation, strengthen implementation, and deliver measurable results, he said.

Al-Jadaan also underscored the importance of candid feedback from development partners and their support for bold, long-term structural reforms that enhance resilience, growth, and prosperity.

Fifty years is not a limit to what can be achieved. It is the foundation on which we build, he stated. He added that stronger partnerships and shared commitments will help safeguard the gains of the past five decades and advance sustainable development in the decades ahead.