Red Sea Global Announces Cooperation with Oracle

Red Sea Global (RSG) announced a cooperation with Oracle to introduce its technology solutions, including OPERA Cloud Central Hospitality platform, in the Kingdom for the first time. (SPA)
Red Sea Global (RSG) announced a cooperation with Oracle to introduce its technology solutions, including OPERA Cloud Central Hospitality platform, in the Kingdom for the first time. (SPA)
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Red Sea Global Announces Cooperation with Oracle

Red Sea Global (RSG) announced a cooperation with Oracle to introduce its technology solutions, including OPERA Cloud Central Hospitality platform, in the Kingdom for the first time. (SPA)
Red Sea Global (RSG) announced a cooperation with Oracle to introduce its technology solutions, including OPERA Cloud Central Hospitality platform, in the Kingdom for the first time. (SPA)

Red Sea Global (RSG) announced on Monday a cooperation with Oracle, a company specialized in hospitality, to introduce its technology solutions, including OPERA Cloud Central Hospitality platform, in the Kingdom for the first time.

Through this cooperation, RSG said it will establish premier luxury resorts such as Thuwal Private Retreat, Shebara, and Desert Rock, which are set to become the first resorts in the Kingdom to leverage Oracle's advanced cloud hospitality technology solutions.

Group CEO at Red Sea Global John Pagano said: "The Oracle Hospitality OPERA Cloud Central platform truly is best in class, but until now, it has not been accessible to the Saudi Arabian industry."

"Oracle was eager to be part of the exciting transformation happening in the Kingdom, especially in the hospitality industry. With their expertise and support, we now have the technology in place to deliver exceptional guest experiences, responding to our discerning visitors' needs before they know what they want," he added.

Executive Vice President and General Manager at Oracle Hospitality Alex Alt said: "Saudi Arabia is one of the world's most exciting hospitality market stories today, and by pioneering a regenerative approach to tourism, Red Sea Global is at the heart of that transformation. Now, Oracle will also be a part of shaping the sector's future in the region."



US Crypto Stocks Plunge as Bitcoin Hits New 2025 Low

Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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US Crypto Stocks Plunge as Bitcoin Hits New 2025 Low

Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

US-listed shares of crypto companies tumbled before the markets opened on Monday, mirroring a sharp drop in bitcoin as escalating tariff tensions and fears of a global trade war triggered a broad retreat from risk assets.

Bitcoin fell as much as 5.5% on Monday to hit its lowest in 2025, and was last trading 2.1% lower.

Corporate bitcoin holder Strategy fell more than 10% in premarket trading, while crypto exchange Coinbase dropped 7%.
Online brokerage Robinhood slid 10.5% after Barclays slashed its price target, citing concerns the crypto market turmoil could drag down the company's transaction revenue this quarter, Reuters reported.

Among the miners, MARA Holdings slumped 11% while CleanSpark dropped 10%.

GameStop, the videogame retailer that last month approved the addition of bitcoin as a treasury reserve asset, fell about 4%.

Though not directly hit by tariffs, crypto firms are still getting hammered as the steepest trade barriers in over a century sap investor sentiment across markets.