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. 

 



Maersk Halts Operations at Oman's Salalah Port Due to Security Incident

(FILES) Containers of Danish shipping and logistics company Maersk stand on a vessel in Copenhagen on September 14, 2023. (Photo by SERGEI GAPON / AFP)
(FILES) Containers of Danish shipping and logistics company Maersk stand on a vessel in Copenhagen on September 14, 2023. (Photo by SERGEI GAPON / AFP)
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Maersk Halts Operations at Oman's Salalah Port Due to Security Incident

(FILES) Containers of Danish shipping and logistics company Maersk stand on a vessel in Copenhagen on September 14, 2023. (Photo by SERGEI GAPON / AFP)
(FILES) Containers of Danish shipping and logistics company Maersk stand on a vessel in Copenhagen on September 14, 2023. (Photo by SERGEI GAPON / AFP)

Danish container shipping group Maersk has temporarily halted its operations at the Port of Salalah in Oman, it said, following a security incident that occurred early on Saturday.

All Maersk crew were safe ⁠and accounted for, and ⁠no company cargo or vessels were affected, the shipping giant said in a statement.

The port was evacuated ⁠after an incident damaged a terminal crane, prompting a temporary suspension of operations across the facility.

Maersk currently estimates that operations will be halted for approximately 48 hours, Reuters quoted it as saying.

The disruption comes as the ⁠conflict ⁠in the region has unsettled energy and transport markets, with shipping affected by the effective closure of the Strait of Hormuz.


Fitch Affirms Israel's 'A' Rating with Negative Outlook

Smoke rises following a missile attack from Iran on Tel Aviv (Reuters)
Smoke rises following a missile attack from Iran on Tel Aviv (Reuters)
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Fitch Affirms Israel's 'A' Rating with Negative Outlook

Smoke rises following a missile attack from Iran on Tel Aviv (Reuters)
Smoke rises following a missile attack from Iran on Tel Aviv (Reuters)

Global ratings agency Fitch reaffirmed Israel's long-term foreign-currency rating at "A" with a negative outlook on Friday, adding that rising public debt levels and ongoing war-related risks could weaken the country's ⁠fiscal trajectory.

Fitch forecast ⁠military expenditure will remain high in 2026, well above pre-war levels, as Israel's involvement in Lebanon intensifies ⁠and operations continue.

It also expects Israel's central government cash budget deficit to widen this year before narrowing in 2027 as military spending declines.

"Israel's recent and ongoing military operations have somewhat diminished geopolitical risks ⁠to ⁠the ratings and demonstrated a highly effective defensive capability", the ratings agency said, although it warned the duration and scope of the current conflict remains uncertain.


SoftBank Secures $40 Billion Loan to Boost OpenAI Investments

FILE PHOTO: The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025.  REUTERS/Issei Kato/File Photo
FILE PHOTO: The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025. REUTERS/Issei Kato/File Photo
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SoftBank Secures $40 Billion Loan to Boost OpenAI Investments

FILE PHOTO: The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025.  REUTERS/Issei Kato/File Photo
FILE PHOTO: The logo of SoftBank is displayed at a company shop in Tokyo, Japan January 28, 2025. REUTERS/Issei Kato/File Photo

Softbank Group said on Friday it has secured a $40 billion bridge loan to bolster investments in ChatGPT-maker OpenAI and for general corporate purposes, marking another significant step in its artificial intelligence strategy.

The Japanese investment conglomerate, led by founder Masayoshi Son, continues to strengthen ties with OpenAI as global tech firms race to gain an edge in the increasingly competitive ⁠generative AI space.

The Japanese investor has previously agreed to invest $30 billion in OpenAI through its Vision Fund 2. The bridge loan is unsecured, the company said.

The loan, which matures in March 2027, was arranged with lenders including JPMorgan Chase, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking Corp and MUFG Bank.

OpenAI, backed by Microsoft, has emerged as a leading player following the ⁠widespread adoption of ChatGPT, prompting a surge in investment across the sector.

The loan underscores Son's increasingly aggressive bet on AI following years when SoftBank swung between outsized gains and heavy Vision Fund losses.

SoftBank ⁠and OpenAI were among the companies behind the Stargate Project last year, which said it aimed to invest up to $500 billion over ⁠four years to build AI infrastructure in the United States.

Son and then President-elect Donald Trump announced in December 2024 ⁠that SoftBank planned to invest $100 billion in AI and related infrastructure in the US over four years.

Giant Alliance

In a related development, Japanese industrial conglomerate Toshiba said on Friday it will start negotiations with Mitsubishi Electric and chipmaker Rohm to merge their power semiconductor businesses, as international competition over the sector heats up.

The move comes as Japan has been pushing for a greater presence in the global semiconductor market.

If realized, the alliance would create the world's second-largest power chip group, according to local media.

Billed as able to drastically reduce power loss, power semiconductors are seen as pivotal to sectors ranging from railway to automotive and renewable energy.

Toshiba Electronic Devices & Storage Corporation (TDSC), a subsidiary of Toshiba, signed a memorandum of understanding to begin discussions with Mitsubishi and Rohm.

“As the global competition over the semiconductor industry keeps intensifying, TDSC and Rohm have long explored the possibility of coordinating in the power semiconductor sector,” Toshiba said.

With Mitsubishi Electric now on board, too, a merger would make “our business scale and technological infrastructure competitive in the global market,” Toshiba said.

The agreement was also signed by Japan Industrial Partners and TBJ Holdings.

Japan currently holds less than 10% of the global chip market, but the government is investing heavily in new factories in a bid to change that.

Earlier this month, Prime Minister Sanae Takaichi's administration set a new sales target for domestically produced microchips, aiming for an eightfold increase by 2040 compared with 2020 levels.

The 2040 target of 40 trillion yen ($250 billion) far exceeds sales of around five trillion yen in 2020, according to figures from the ministry of economy, trade and industry.