Banyan Tree AlUla Debuts in Saudi Arabia 

Opening in October 2022, the resort, which is developed by the Royal Commission for AlUla, brings wellbeing-centred luxury to a heritage site

Banyan Tree AlUla Debuts in Saudi Arabia 
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Banyan Tree AlUla Debuts in Saudi Arabia 

Banyan Tree AlUla Debuts in Saudi Arabia 

Banyan Tree launches its first property in historical AlUla in Saudi Arabia, ush-ering in the Group’s debut in the Kingdom.  AlUla is attracting the attention of the world’s affluent travel-lers with its mesmerising mix of history, culture, and entertainment, all set against a breathtaking desert backdrop dating back millions of years.

Inspired by the nomadic nature of Nabataean architecture, the all-villa, tented resort epitomises Banyan Tree’s commitment to local influence. The fundamental principles of the resort are designed around three concepts that allow guests to immerse themselves in the resort and the destination: 
•    ‘In-villa’ provides guests with made-to-measure offerings brought to life by the talented cast of Banyan Tree hosts.
•    ‘In-valley’ takes guests into the essence of AlUla through exclusive outdoor treatments, nomadic chef’s tables, active adventures, and private events staged in spectacular settings.
•    ‘En-voyage’ brings guests through privileged immersions crafted with local talents, continuously unlocking new facets of AlUla’s rich legacy. Bespoke wellbeing and adventure excursions show a glimpse of the ancient landscapes of AlUla and the lives of the people who call it home.

“The Banyan Tree AlUla opening marks the completion of the final development phase of Ashar Valley, which also houses the world-famous Maraya Hall.” said Mr John Northen, Executive Director- Head of Hotels and Resorts at the Royal Commission for AlUla. “The selection of Banyan Tree to operate this re-sort was driven by the brand’s synergy with the vision of the Royal Commission for AlUla for the destina-tion. The ethos of Banyan Tree is to provide a sanctuary for the senses in an awe-inspiring location with a great sense of place, which is a perfect match for us in AlUla.” 
The resort will feature two dining venues, including Saffron, Banyan Tree’s signature Thai restaurant, of-fering contemporary Thai cuisine. The renowned Banyan Tree Spa welcomes guests with carefully curat-ed wellness experiences that combine Asian traditions and local elements.

“We are thrilled to launch Banyan Tree in the beautiful valley of AlUla in the kingdom of Saudi Arabia. Founded in 6th century BC, AlUla is filled with so much history and we are honoured to be part of its herit-age efforts,” said Mr Eddy See, President and Chief Executive Officer, Banyan Tree Group. “Since we started our journey 28 years ago, we have been pioneers of the all-pool villa concept, and now we bring our purposeful, sustainably designed concepts to AlUla with all-tented villas that complement the existing eco-destination.”
Guests looking to be among the first to enjoy a once-in-a-lifetime experience at Banyan Tree AlUla can enroll in Accor’s loyalty programme: ALL – Accor Live Limitless. As a member of ALL-Accor Live Limitless, guests can earn reward points on every stay, when dining and can use their points to book nights at participating hotels, transfer points to use with partners worldwide or convert them into truly unforgettable moments with Limitless Experiences in entertainment, sports, culture, shopping, travel and more.

For more information or to book a stay at Banyan Tree AlUla, email [email protected] or call +966 55 184 2203. 

 



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.