NEOM Announces Zardun, its New Luxury Ecotourism Destination

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
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NEOM Announces Zardun, its New Luxury Ecotourism Destination

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)

NEOM's Board of Directors announced on Wednesday the launch of "Zardun", an exclusive resort and natural reserve that will contribute to the restoration and revitalization of the surrounding environment, supporting NEOM's efforts to develop luxury ecotourism in Saudi Arabia.

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region.

Overlooking the turquoise waters of the Gulf of Aqaba, Zardun Nature Resort will feature four distinctive, ultra-luxurious buildings that will blend harmoniously with the surrounding landscape. Zardun is a one-of-a-kind destination that blends luxury with nature and aims to offer visitors the ultimate ecotourism experience.

The new mountain-to-beach destination will span four square kilometers and has been carefully designed as a reserve that preserves the diversity of its rich habitat of local flora and fauna. Visitors will be able to experience its beauty through the state-of-the-art Experience Center, which includes an observation deck with a 360-degree panoramic view that allows visitors to observe the details of wildlife and enjoy the natural landscape of the surrounding environment.

Zardun will feature three luxury boutique hotels with 100 rooms and suites, designed with a futuristic vision that promotes sustainability to preserve this environment that is being developed for the first time. Each hotel will take a different approach to delivering distinctive experiences for guests, with stunning views of the valley floor and beachfront.

Zardun will offer hiking, mountain biking, rock climbing, and other sports and recreational activities, including stargazing, meditation, and yoga. In addition, visitors will be encouraged to join educational and field programs on nature protection, conservation, and resettlement.

Zardun's sustainability strategy includes pioneering conservation methods, including the development of a series of oases to support diverse natural habitats. The area's existing water sources will help revitalize the natural habitat of local flora and fauna. Along its coastline, Zardun will also support a vibrant marine ecosystem, including the preservation of coral reefs and other marine species in the Gulf of Aqaba, exemplifying NEOM's ongoing commitment to nature conservation.

Zardun joins the latest projects recently announced by NEOM, including Leyja, Epicon, Siranna, Utamo, Norlana and Aquellum, which are sustainable tourism destinations on the Gulf of Aqaba, all of which exemplify NEOM's commitment to sustainable progress.



Türkiye's Central Bank Lifts 2026 Inflation Forecasts

Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas
Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas
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Türkiye's Central Bank Lifts 2026 Inflation Forecasts

Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas
Türkiye's Central Bank headquarters is seen in Ankara, Türkiye in this January 24, 2014 file photo. REUTERS/Umit Bektas

Türkiye's central bank on Thursday increased its estimates for inflation as officials try to rein in soaring price increases that have weighed on the economy for years.

The official inflation rate is now seen falling to between 15 and 21 percent by the end of this year, up from a previous forecast of 13 to 19 percent.

"We have increased our forecast range because of better visibility on certain risks," the central bank's governor Fatih Karahan said in a statement, without further detail, Reuters reported.

The forecast would still be a sharp decline from the annual inflation rate of 30.7 percent in January, following years of interest rate hikes in a bid to slow runaway price increases.

However, the official figures are disputed by ENAG, a group of independent economists that publishes its own data every month, with the organisation saying year-on-year inflation stood at 53.4 percent in January.

Türkiye has experienced double-digit inflation since 2019, making life increasingly more expensive for millions of people, after President Recep Tayyip Erdogan ordered interest rate cuts in a bid to spur growth.

The cuts sent the lira plunging on currency markets, further fuelling inflation and leading Erdogan to reverse his unorthodox policy in 2023.

But in January the central bank cut its benchmark interest rate to 37 percent, citing a continued slowing of price increases.

 

 

 

 


Mawani Reports 2.01% Increase in Container Throughput for January 2026

Mawani Reports 2.01% Increase in Container Throughput for January 2026
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Mawani Reports 2.01% Increase in Container Throughput for January 2026

Mawani Reports 2.01% Increase in Container Throughput for January 2026

Ports overseen by the Saudi Ports Authority (Mawani) reported a 2.01% increase in container handling for January 2026, totaling 738,111 TEUs, up from 723,571 TEUs in January 2025. Transshipment containers rose significantly by 22.44%, reaching 184,019 TEUs compared to 150,295 TEUs the previous year.

However, the number of imported containers decreased by 3.23% to 284,375 TEUs, and exported containers dropped by 3.47% to 269,717 TEUs year-over-year, SPA reported.

Passenger numbers surged by 42.27%, totaling 143,566 passengers compared to 100,909 last year. Vehicle volumes increased by 3.31% to 109,097, and the ports received 886,908 heads of livestock, a 49.86% increase from the same period in 2025.

In terms of cargo tonnage, liquid bulk cargo rose by 0.28% to 14,102,495 tons, general cargo totaled 839,987 tons, and solid bulk cargo reached 4,263,168 tons. The total tonnage handled was 19,205,650 tons, reflecting a 3.04% decrease from the previous year. Vessel traffic recorded 1,121 ships, a slight decrease of 1.75%.

This increase in container throughput supports trade, stimulates the maritime transport industry, and enhances supply chains and food security. These achievements align with the National Transport and Logistics Strategy, reinforcing Saudi Arabia's position as a global logistics hub.

In 2025, Mawani ports achieved a 10.58% increase in total handled containers, reaching 8,317,235 TEUs, while transshipment containers for the year rose by 11.78% to 1,927,348 TEUs.


Oil Prices Edge Lower as IEA Reduces Demand Forecast

Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
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Oil Prices Edge Lower as IEA Reduces Demand Forecast

Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo

Oil prices slipped on Thursday as investors weighed the International Energy Agency's lowering of its global oil demand forecast for 2026 against potential escalation of US-Iran tensions.

Brent crude oil futures were down 19 cents, or 0.27%, at $69.21 a barrel by 1232 GMT. US West Texas Intermediate crude fell 8 cents, or 0.12%, to $64.55.

Global oil demand will rise more slowly than previously expected this year, the IEA said on Thursday while projecting a sizeable surplus despite outages that cut supply in January.

The Brent and WTI benchmarks reversed gains to turn negative after the IEA's monthly report, having derived support earlier from concerns over the US-Iran backdrop.

US President Donald Trump said after talks with Israeli Prime Minister Benjamin Netanyahu on Wednesday that they had yet to reach a definitive agreement on how to move forward with Iran but that negotiations with Tehran would continue.

Trump had said on Tuesday that he was considering sending a second aircraft carrier to the Middle East if a deal is not reached with Iran. The date and venue of the next round of talks have yet to be announced.

A hefty build in US crude inventories had capped the early price gains. US crude inventories rose by 8.5 million barrels to 428.8 million barrels last week, the Energy Information Administration said, far exceeding the 793,000 increase expected by analysts in a Reuters poll.

US refinery utilization rates dropped by 1.1 percentage points in the week to 89.4%, EIA data showed.

On the supply side, Russia's seaborne oil products exports in January rose by 0.7% from December to 9.12 million metric tons on high fuel output and a seasonal drop in domestic demand, data from industry sources and Reuters calculations showed.