Saudia Commits to Innovation and Sustainability in The Aviation Challenge 2024

 Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, is celebrating the expansion of its winter schedule with an unmissable twenty percent discount on all flights. Travel lovers can now take advantage of the flash promotion on the enhanced Winter schedule and book their flights with ease. The discounted prices will be available on 30th October for WIZZ Discount Club members and on 31st October for all travelers, for flights departing between 10 November 2024 and 31 March 2025. Tickets are already on sale on wizzair.com and the WIZZ app, available in the Arabic language, with fares starting from as low as 89 AED*.

The expanded Winter schedule offers 40 percent more flights to the airline’s most popular destinations. From island hopping in Larnaca and the Maldives, to exploring the charm of Bishkek and Baku, uncovering the treasures of Kutaisi and Tashkent, or delving into the timeless wonders of Cairo and Athens, travelers can find flights that suit all preferences and budgets—enjoying more flexibility, convenience, and savings on their journeys.

Johan Eidhagen, managing director of Wizz Air Abu Dhabi, said: “We are thrilled to announce the expansion of our Winter schedule with a 20 percent discount. Our enhanced schedule will offer 40 percent additional capacity on our most popular routes, enabling customers to benefit from our incredibly low fares with a convenient and tailored product. Wizz Air is committed to carrying the flag of ultra-low-cost travel in the region and unlocking travel for everyone. We look forward to seeing you on board our aircraft and sharing our love of travel soon.”

The national airline recently announced the expansion of WIZZ MultiPass, a pioneering and innovative flight subscription service that allows frequent travelers to travel from the UAE every month and explore multiple destinations while saving more. WIZZ MultiPass enables passengers to lock in a fixed price for tickets and baggage for the entire year. Passengers can save up to 40% on tickets to popular destinations using the ticket-only fare.

Passengers can book tickets with confidence, thanks to WIZZ Flex. With WIZZ Flex, passengers can change their flight up to three hours before departure without any fee and receive 100% of the fare immediately reimbursed in airline credit.

Strategically located in the UAE, Wizz Air Abu Dhabi provides ultra-low-fares and efficient travel options to Alexandria (Egypt), Almaty (Kazakhstan), Amman (Jordan), Aqaba (Jordan), Athens (Greece), Baku (Azerbaijan), Belgrade (Serbia), Bishkek (Kyrgyzstan), Cairo (Egypt), Cluj (Romania) and Dammam (Saudi Arabia). As well as routes to Kutaisi (Georgia), Larnaca (Cyprus), Male (Maldives), Madinah (Saudi Arabia), Nur Sultan (Kazakhstan), Samarkand (Uzbekistan), Sarajevo (Bosnia), Sohag (Egypt), Tashkent (Uzbekistan), Turkistan (Kazakhstan), Tirana (Albania) and Yerevan (Armenia) among others.

Expanded winter schedule:

*One-way price, including administration fee. One carry-on bag (max: 40x30x20cm) is included. Trolley bag and each piece of checked-in baggage is subject to additional fees. The price applies only to bookings made on wizzair.com and the WIZZ mobile app. Number of seats at indicated prices are limited.

*The promotion applies on bookings made on the 30th of October 2024 00.00 till 31st of October 2024 23.59 CEST (“Promotional period”). The 20% discount applies to the fare, excluding the administration fee. The travel period is limited; travels must be completed between 10 November 2024 and 31 March 2025. The promotion applies only to bookings made on https://wizzair.com or on the WIZZ mobile app. Promotion does not apply to group bookings. Blackout dates: 19 December 2024 – 6 January 2025.

Bahrain Mumtalakat Holding Company (“Mumtalakat”) and CYVN Holdings (“CYVN Holdings”) announced that they have entered into a non-binding agreement to explore a potential partnership to accelerate the next chapter of McLaren’s growth.

The potential partnership would see CYVN Holdings acquire full ownership of McLaren’s automotive business in addition to a non-controlling stake in McLaren Group.

This transformative investment by CYVN Holdings would bring access to additional capital, advanced engineering expertise and pioneering technology, particularly in the field of electric vehicles. CYVN Holdings’ cross-industry experience, highly specialized team and existing strategic investments in NIO Inc., Forseven and Gordon Murray Technologies also bring potential synergies to complement and enhance McLaren’s product strategy.

This partnership would look to build on McLaren’s highly successful track record in elite motorsport and grow one of the world’s most prestigious range of high-performance vehicles, with an expanding network of over 110 retailers in 30 global regions.

The deal would also align with Mumtalakat’s strategy to optimize, enhance and grow its portfolio, to deliver sustainable long-term financial returns.

 Valor Hospitality Partners announced the signing of its Lifestyle property in the Kingdom of Saudi Arabia, in the city of Abha, the capital of the Aseer region. The upscale Hijla Hotel, owned by Mr. Mohammed Manaa Almounis and Mr. Samir Muhammad Al Qahtani, and Kayan Almusanada company, in collaboration with the Tourism Development Fund (TDF), is slated to open its doors in the 2^nd semester of 2025. This new venture represents a significant milestone for Valor Hospitality Partners to expand its portfolio in Saudi Arabia.

Hijla Hotel will embody a lavish lifestyle infused with an authentic cultural identity that resonates with the Aseer province. The establishment aims to create a genuine local experience for guests and visitors, showcasing distinctive design elements indigenous to the region. Boasting 151 rooms and suites, the hotel will be situated within “Le Premier” an upscale mixed-use development featuring a retail promenade with global, aspirational brands and a variety of cafes and restaurants. The property will also house two distinct dining venues, an all-day deli and a rooftop specialty restaurant offering panoramic views. Additional guest amenities comprise meeting rooms, an expansive convention center, an enclosed swimming pool, fitness and wellness center, and ample private parking facilities.

Commenting on the signing, Mr. Mohammed Manaa Almounis stated: “We are honored to partner with Valor Hospitality Partners to manage Hijla Hotel, marking a significant milestone as their first managed property in Saudi Arabia. This collaboration not only elevates our commitment to exceptional hospitality but also positions Hijla Hotel as a premier destination in the country and the region. Together, we are excited to deliver unparalleled experiences that reflect the rich culture and warmth of Saudi hospitality.”

Mr. Samir Muhammad Al Qahtani also added: “We are proud of this project and the support and guidance provided by the Tourism Development Fund, which plays a key role in advancing the tourism sector in the Kingdom. This partnership not only strengthens Saudi Arabia’s global tourism position but also makes it more attractive to international companies. The agreement underscores the Fund’s commitment to supporting high-quality projects that align with Saudi Vision 2030 and contribute to the sector’s growth. Our collaboration with Valor Hospitality Partners to develop and manage the Hijla Hotel is part of our ongoing efforts to enhance the hospitality experience by blending our rich Saudi heritage with Valor’s global expertise. We look forward to a successful partnership that will significantly contribute to the region’s hospitality industry.”

“We are extremely grateful and pleased to have found visionary owners in Mr. Mohammed Manaa Almounis and Mr. Samir Muhammad Al Qahtani and adding Hijla Hotel to our portfolio, making it our first property in Saudi Arabia and introducing Valor Hospitality Partners diverse offering to the thriving hospitality sector in the country, which falls in line with Saudi Vision 2030’s to promote the country through tourism. Our vision has been focused on properties that extend its hospitality offerings into local themes, acting as an ambassador to local culture and highlighting its uniqueness for an upscale total emergence within the destination, which we believe Hijla Hotel represents. We can’t wait to welcome visitors to this unique property upon its opening”, said Julien Bergue, Co-founder and Managing Partner, Valor Hospitality Middle East, CIS & Central Asia.

Hijla Hotel marks a significant milestone in Valor Hospitality Partners’ ongoing commitment to expanding its footprint in the Middle East. The company strategically selects properties that embody the uniqueness of local cultures, With the ongoing support provided by the Tourism Development Fund (TDF). Valor Hospitality Partners is a key regional player in identifying authentic properties and help build its services to the highest international standards.

Valor Hospitality Partners transcends conventional third-party management by working closely with owners and investors. The company provides comprehensive management solutions, including acquisition advisory, new development or rebranding, hotel management, asset management, design, and curation of food and beverage concepts. Specialized services extend to revenue management, marketing management, and luxury lifestyle offerings, covering golf, leisure, spa, and fitness management. Valor remains committed to best practices in sustainability and community involvement, aligning with the Gulf and the wider region’s priorities, encompassing natural resource management, reduced environmental impact, and skills development to support national employment targets. The company also emphasizes building relationships with businesses that contribute to the operational success of the properties under its purview.

VinFast Auto held the official brand launch event in the Middle Eastern market, At Bluewaters Island (Dubai), showcasing a variety of smart and green mobility solutions. This event marks a significant milestone in VinFast’s global expansion strategy and reinforces its commitment to providing sustainable and green transportation solutions in the region.

On the same day as the brand launch, VinFast, together with its partner Al Tayer Motors, officially opened its first dealership in the United Arab Emirates (UAE), located in the downtown area of Dubai. With a total area of over 1,000 square meters, the store is designed with a modern and luxurious style, integrated with a service workshop, providing customers the opportunity to directly experience VinFast’s smart electric vehicles, including the VF 6, VF 7, VF 8, and VF 9 models.

With modern design, advanced technology, and impressive performance, VinFast’s electric vehicles promise to bring entirely new driving experiences to customers in the UAE as well as the Middle East region. Previously, on October 17, 2024, VinFast signed a Memorandum of Understanding with Charge&Go to promote the installation and operation of a network of public charging stations and related services in the UAE.

According to plans, additional VinFast dealerships in the Middle East, including Saudi Arabia, Qatar, Kuwait, and Bahrain, will be opened later this year. The VinFast VF 8 model is expected to be priced starting from $47,500 (Eco trim) and from $51,500 (Plus trim) when it is launched for sale in the Middle East.

Speaking at the event, Mr. Ta Xuan Hien, CEO of VinFast Middle East, shared: “Today’s official brand launch in the Middle East marks an important step in VinFast’s journey to expand its presence in the global electric vehicle market. We are proud to partner with Gulf nations in the electrification revolution, offering smart and powerful electric vehicles with exceptional warranties, while gradually realizing our expansion plan in the Middle East and globally.”

As a pioneer in the all-electric vehicle strategy, VinFast has established a strong reputation with its presence in numerous international markets such as the U.S., Canada, Europe, Indonesia, India, and the Philippines. The Middle East is a new advancement in VinFast’s expansion strategy, especially as countries in the region are adopting policies to accelerate the development of electric vehicles.

In the Middle East, VinFast has signed exclusive partnership agreements with three leading regional dealers: Al Tayer Motors (UAE), Al Mana Holdings (Qatar), and Bahwan Automobiles & Trading (Oman). By promoting collaboration with top partners in the Middle East, VinFast is actively participating in realizing green mobility solutions in the region, while affirming the commitment of the Vietnamese electric vehicle manufacturer to making EVs more accessible to everyone.

Elie Saab, the name synonymous with luxury fashion and lifestyle, is making waves in the real estate market with the launch of La Mer by Elie Saab. This new development, set on the stunning Al Marjan Island in Ras Al Khaimah, promises to blend the sophistication of haute couture with the serenity of seaside living. Partnering with Octa Properties, Elie Saab aims to redefine resort-style living in the UAE, offering a unique residential experience that reflects his signature aesthetic.

ARTE Developments, a prominent luxury property developer in the UAE, is bringing this visionary project to life.

La Mer by Elie Saab will comprise three beachfront towers linked across multiple levels, featuring a dual lobby. With a total of 355 residences, sizes will range from 874 sq ft to a generous 14,484 sq ft.

These residences will include ten distinct categories, from one-bedroom apartments to chalets and villas, along with nine exclusive penthouses measuring between 10,453 sq ft and 14,484 sq ft. Each living space embodies Elie Saab’s signature aesthetic and is adorned with elegant pieces from the Elie Saab Maison furniture collection.

Residents can enjoy a wide range of amenities. At ground level, a dedicated kids’ club, an indoor pool covering 2,553 sq ft, an outdoor play area, and a children’s pool will be available. Wellness amenities will also be prioritized, featuring male and female spas of 1,058 sq ft and 1,107 sq ft, a well-equipped 3,124 sq ft gym, and a grand pool exceeding 4,837 sq ft.

Serenity Park, located on Level 1, invites relaxation with its expansive 10,266 sq ft of landscaped space, while the Signature Lounge offers an elegant retreat at 1,271 sq ft. Levels 2 and 3 will include the Link Garden, spanning 8,884 sq ft, seamlessly integrating indoor and outdoor living.

On Level 18, residents will find the Sky Gym, Sky Co-working Space, Sky Lounge, and a breathtaking Sky Pool & Deck, which boasts an impressive area of 7,522 sq ft. These thoughtfully curated amenities are designed to cater to both leisure and lifestyle needs, fostering a cohesive community experience, as highlighted by the developer.

“La Mer by Elie Saab reflects our commitment to expanding our brand’s presence in the luxury real estate market, offering an exclusive resort-style living experience in Ras Al Khaimah,” remarked Elie Saab Jr., the CEO of Elie Saab Group.

“As the region grows into a premier entertainment and resort destination, this development brings the distinctive Elie Saab lifestyle while embracing the unique character of Ras Al Khaimah’s surroundings,” he stated.

Lalit Goel, the Managing Director of ARTE Developments, said: “We are honored to collaborate with this renowned brand for the development of La Mer by Elie Saab on Al Marjan Island. The foundation of this project partnership lies in our unwavering commitment to excellence, quality, and luxury living.”

ARTE Developments believes that La Mer by Elie Saab marks a significant milestone in the introduction of branded residences to Al Marjan Island, known for its vibrant growth and community spirit. The development aims to elevate the island’s global allure, offering residents a peaceful beachfront lifestyle.

Construction of La Mer by Elie Saab began in Q3 2024, with an expected completion date in Q1 2028.

Fawaz Sous, the CEO of Octa Properties, said: “With over 20 years of collective experience among Dubai’s leading developers, our team is committed to crafting exclusive branded residences that set new standards in excellence and sophistication.”

“As the exclusive sales and marketing partner for this premium waterfront venture, we can vouch that La Mer by Elie Saab is set to become a valuable addition to Al Marjan Island, infusing the beachfront with unparalleled elegance through its distinctive design,” he added.

Qatar Automobiles Company, the authorized general distributor of Mitsubishi Motors in Qatar, officially launched the all-new Mitsubishi XFORCE (also known as the Outlander Sport in some markets) during a grand ceremony at the Intercontinental Hotel Doha. This makes Qatar one of the key markets for the introduction of this new model from the renowned brand.

The event was attended by Kano Daichi, Manager GCC Markets at Mitsubishi Motors Corporation; Walid Rashed, Vice President of Sales & Marketing at Mitsubishi Motors Middle East & Africa; Frank Zauner, General Manager of Qatar Automobiles Company; QAC management along with special guests, media representatives, and influencers.

Frank Zauner, General Manager, Qatar Automobiles Company said: “The launch of the all-new XFORCE aligns perfectly with Qatar Automobiles Company and Mitsubishi Motors’ strategy to introduce an elegant, sporty, and modern vehicle to the market, designed to meet the expectations of the new generation, and equipped with the latest technology and features. I reaffirm our unwavering commitment to our customers and community by providing reliable, cutting-edge vehicles that meet their daily needs. We are equally committed to delivering exceptional after-sales services, ensuring that every customer’s experience with Mitsubishi is smooth, affordable, and satisfying.”

Commenting on the XFORCE launch in Qatar, Kano Daichi, Manager GCC Markets at Mitsubishi Motors Corporation, said: “We are excited to bring the all-new XFORCE to Qatar. It will resonate well with young families, professionals, and adventurers who are looking for a stylish SUV that complements their active lifestyles. It is for the bold, adventurous, and those who demand more and are not afraid to challenge boundaries.”

Walid Rashed, Vice President of Sales & Marketing at Mitsubishi Motors Middle East & Africa said: “We are proud to launch the all-new XFORCE in Qatar and the Middle East which will redefine the standards of the compact SUV segment. Its elegant and bold design, as well as cutting-edge technology and luxurious amenities will make it an ideal choice of the new generations.”

The stylish, yet bold compact SUV is designed based on the concept of “best-suited buddy for an exciting lifestyle” to bring excitement, comfort, and practicality to customers’ everyday lives.

The XFORCE is developed to answer the needs of young families, active individuals, and modern adventurers seeking a vehicle that seamlessly blends style, reliability, versatility, and cutting-edge technology to better match their dynamic lifestyles.

Aiming to redefine the standards in the compact SUV segment, the XFORCE features a bold, elegant design, a wide range of luxurious amenities, a spacious interior, and a powerful 1.5-liter MIVEC engine.

A style that Draws Attention

The exterior design of the all-new XFORCE oozes excitement and sophistication from every angle thanks to its forward-thinking, futuristic design. Designed based on the Silky and Solid concept, the compact SUV draws attention wherever it goes, thereby promoting a trendsetter lifestyle. The new generation dynamic shield with honeycomb accents as well as Mitsubishi Motors’ iconic T-shaped LED headlights and taillights, create a sporty look with a sense of depth. The XFORCE also comes with two-tone 18-inch alloy wheels, thereby making a powerful statement on the road.

While the exterior styling looks bold and sporty, drivers will be greeted by a luxurious interior with higher-quality materials and cutting-edge technologies. In a first for Mitsubishi Motors, a mélange fabric is used for the padding of the instrument panel, creating a sense of enclosure by covering everything up to the door trim. The modern cockpit also sports a 12.3-inch Smartphone-link Display Audio (SDA) compatible with Apple CarPlay and Android Auto, along with an 8-inch Digital Driver Display to put information and entertainment at your fingertips.

Other key interior highlights include dual-zone climate control with rear and driver knee air vents, wireless smartphone charging, USB Type A & C ports in the rear console, synthetic leather seats with an anti-rise temperature function, hands-free power tailgate, and Nanoe™ X air purifier, all of which ensure a comfortable and connected ride.

On the safety front, XFORCE is engineered with a plethora of driver-assistance systems and advanced safety features, including six airbags, Blind Spot Warning (BSW), Rear Cross Traffic Alert (RCTA), an electric parking brake with an auto hold function, and a Tire Pressure Monitoring System (TPMS), thereby providing peace of mind for both drivers and passengers.

Performance Designed for Our Region and Built for Adventure

Under the hood, the all-new XFORCE debuts with a 1.5-liter MIVEC responsive engine that combines efficiency with power. The four-cylinder engine is mated to a Continuously Variable Transmission (CVT) to ensure an ideal balance between fuel efficiency and driving power. The innovative transmission also features a “Ds” function (Downshift and Sporty) to enhance the driving force and engine braking, thereby ensuring a confident and sporty driving experience.

The XFORCE has four drive modes—Normal, Wet, Gravel, and Mud. These four drive modes allow you to adjust power delivery, traction control, and steering effort for maximum confidence in different driving situations. With its two-tone 18-inch wheels, the XFORCE achieves a class-leading ground clearance of 222 mm, making it the ideal SUV for the Middle East’s challenging off-road terrains.

The all-new XFORCE and the full line up of Mitsubishi cars are available at Qatar Automobiles Company, the authorized general distributor of Mitsubishi Motors in Qatar, in its showroom on Salwa Road in Doha

Sindalah, the luxury island destination and first physical showcase of NEOM, has been unveiled by the NEOM Board of Directors. First announced by His Royal Highness Mohammed bin Salman, Crown Prince and Chairman of the NEOM Board of Directors in December 2022, Sindalah’s opening marks an exciting milestone in NEOM’s progress.

Transforming Sindalah from idea to reality has been the result of an extensive two-year effort, from a 30,000-strong workforce at its peak across four local contracting partners and up to 60 subcontractors. It marks a significant step in realizing the Kingdom’s tourism ambitions under Saudi Vision 2030 and reaffirms NEOM‘s ability to conceive and deliver new and exciting destinations. To celebrate this occasion, Sindalah has welcomed its first wave of invited guests to experience the island’s allure.

Located in the glistening azure waters of the Red Sea, five kilometers off the NEOM coastline in northwest Saudi Arabia, Sindalah is a distinctive, luxury resort destination spread over 840,000 square meters. Ideally positioned 17 hours by sea from key Mediterranean destinations, Sindalah will serve as NEOM’s gateway to the Red Sea, providing easy access for European, Saudi and GCC yacht owners.

Sindalah blends the natural beauty of the island with tech-driven design and architectural excellence. With the island masterfully designed by leading yachting architecture firm, Luca Dini, Sindalah offers world-class restaurants, hotels, venues and experiences. Set to welcome up to 2,400 guests per day by 2028, the island will also generate around 3,500 jobs, helping to drive the ongoing development of the Kingdom’s thriving hospitality and tourism industries, thereby supporting diversification of the economy in line with Saudi Vision 2030.

Nadhmi Al-Nasr, Chief Executive Officer, NEOM, said: “NEOM is committed to supporting the Kingdom’s new era of luxury tourism, with the opening of Sindalah. The realization of this landmark destination, the gateway to the Red Sea, is due to the visionary leadership of His Royal Highness Mohammed bin Salman and Saudi Vision 2030. This is a proud chapter in the NEOM story and we are excited to achieve more of our ambitious goals, with the continued support of His Royal Highness. NEOM’s inaugural destination offers visitors a ‘first glimpse’ of what the future holds for our extensive portfolio of destinations and developments.”

Boasting an impressive marine ecosystem, Sindalah’s surrounding waters are home to 1,100 species of fish – 45 of which are unique to NEOM waters, in addition to more than 300 coral species. In line with NEOM’s commitment to sustainability and conservation, preservation of Sindalah’s natural marine habitat has been central to the island’s development, and guests are invited to dive beneath the surface to explore its wonders for themselves.

With its strategic location and year-round pleasant climate, Sindalah’s state-of-the-art, 86-berth marina will usher in a new season of sailing. The Sindalah Yacht Club, with interiors expertly designed by Stefano Ricci, sits as the marina’s focal point and invites yachting guests, owners and crew to enjoy its amenities. Docking facilities, additional offshore buoys for super yachts and a full suite of yacht management services are also available.

Sindalah combines world-class hospitality, fine dining and curated experiences in one all-encompassing destination. The Village and Promenade are the beating heart of the island’s entertainment and social zones, home to 38 culinary offerings backed by world-renowned chefs, as well as daytime eateries, late-night venues and 36 luxury retail outlets. The Beach Club offers poolside lounging by day and mesmerizing music experiences by night, while the beachfront Golf Club provides an elevated golfing experience for all abilities. With its world-class 6,474-yard (5,920-meter) par 70 course, the Golf Club will offer 18 teeing points and two unique nine-hole experiences.

Future guests will choose their accommodation preferences from a range of breathtaking properties, offering 440 rooms and 88 villas, as well as 218 luxury serviced apartments. Information regarding bookings will be made available through NEOM’s tourism channels soon.

Feeling depressed when the stock market is down? You have plenty of company. According to a recent study, when stock prices fall, the number of antidepressant prescriptions rises.

The researchers examined the connection by first creating local stock indexes, combining companies with headquarters in the same state. Academic research has shown that investors tend to own more local stocks in their portfolios, either because of employee-stock-ownership plans or because they have more familiarity with those companies.

The researchers then looked at about 300 metropolitan statistical areas, which are regions encompassing a city with 50,000 people and the surrounding towns, tracking changes in local stock prices and the number of antidepressant prescriptions in each area over a two-year period. They found that when local stock prices dropped about 12.8% over a two-week period, antidepressant prescriptions increased 0.42% on average. A similar relationship was seen in smaller stock-price drops as well. When local stock prices fell by about 6.4%, antidepressant prescriptions increased about 0.21%.

Older and sadder

“Our findings suggest that as the stock market declines, more people experience stress and anxiety, leading to an increase in prescriptions for antidepressants,” says Chang Liu , an assistant professor at Ball State University’s Miller College of Business in Muncie, Ind., and one of the paper’s co-authors. The analysis controlled for other factors that could influence antidepressant usage, like unemployment rates or the season.

In a comparison of age groups, those aged 46 to 55 were the most likely to get antidepressant prescriptions when local stocks dropped.

“People in this age group may be more sensitive to changes in their portfolio compared with a younger cohort, who are further from retirement, and older cohorts who may own less stocks and more bonds since they are nearing retirement,” says Maoyong Fan , a professor at Ball State University and co-author of the study.

Other correlations

When the authors looked at demand for psychotherapy during periods of declining stock prices their findings were similar. When local stock prices dropped by about 12.8% over a two-week period, the number of psychotherapy visits billed to insurance providers increased by about 0.32%. They also found a correlation between local stock returns and certain illnesses associated with depression, such as insomnia, peptic ulcer, abdominal pain, substance abuse and myocardial infarction. But when the authors looked at other insurance claims, like antibiotics prescriptions, they found no relationship with changes in local stock prices.

By contrast, for periods when stocks rise, the authors didn’t see a drop in psychological interventions. They found no statistical relationship between rising local stock prices and the number of antidepressant prescriptions, for example, which the authors believe makes sense.

“Once a patient is prescribed an antidepressant, it’s unlikely that a psychiatrist would stop antidepressant prescriptions immediately,” says Liu.

One practical implication of the study, Liu adds, is that investors should be aware of their emotional state when the market dips before they make investment decisions.

When Abby Tennenbaum, 44, and her husband, Ross Tennenbaum , 46, purchased a $2.1 million vacation property in 2021 about 80 miles southeast of Seattle in the mountain resort community of Suncadia, Washington, they encouraged their two young daughters to collaborate with the family’s interior designer, Emily LaMarque, on decorating the house. The 3,143-square-foot, five-bedroom home had a budget of $500,000 for furnishings and decorating.

The Tennenbaum sisters—Ella, 12, and Edie, 8—gave LaMarque feedback on paint colours and wallpaper patterns, but they also expressed other specific preferences. They weren’t into insect art (though butterflies were okay).

They thought it would be neat to have indoor swings—which the house now has on all three of its levels. And Edie, who has always loved bunk beds, worked with LaMarque to design a bunk room, which is both sisters’ favourite space. “It looks so good and it’s so cool,” Edie says of the sleeping spot that has four full-sized beds.

The girls even convinced their parents, Abby and Ross Tennenbaum, that the kitchen needed a snow cone machine. Abby is an occupational therapist turned stay-at-home mother and Ross is the CFO of Avalara, a tax software company.

Children have long contributed thoughts on their bedroom designs: Pink! Blue! Princesses! Rocket ships! But now they are driving interior decisions around the house. “We’ve always talked with our clients’ children,” says Lynn Stone, co-founder of Hunter Carson Design, which is based in Manhattan Beach, California. “What we are seeing now is something different: Now we expect the kids to get involved.”

Stone and her co-founder, Mandy Gregory, routinely receive emails, Pinterest boards, Instagram messages and TikToks from their clients’ mini-mes. “Kids send us texts if they are out shopping, saying, ‘Do you think this will work in our room?’” Stone says. “One client’s daughter said, ‘Please, don’t meet with Lynn and Mandy without me, and if you do, FaceTime me!’”

A sampling of product requests from their pint-sized clients include CB2’s Goop-designed Gwyneth Boucle Swivel Chair (“Teens love this chair,” Stone says), Gucci wallpaper, Bella Notte handmade linens, customised neon signs, shelves to show off Lego collections and bedroom mini fridges (“Parents often say no to mini fridges,” Stone says). One teenager emailed Stone a screenshot of a Sotheby’s auction artwork in the $20,000 range that she wanted for her bedroom. Stone told her, “I too love this, but I don’t see it making its way into either of our houses.”

In 2021, Stone and Gregory were hired by stay-at-home mom Neeraj Rotondo, 56, to update her son’s bedroom and bathroom in the roughly 5,000-square-foot, five-bedroom Manhattan Beach house where Rotondo’s family had lived for more than a decade. The Mediterranean-style house is currently estimated at $6.2 million, according to Redfin. Rotondo’s son, Sam, who was 14-years-old at the time, gave his opinions: He wanted his room to have a couch-like bed, framed N.B.A. jersey artwork and a space to play card games with friends. The bedroom cost $8,000 and the bathroom was $23,000.

While that project was underway, Neeraj Rotondo’s two daughters, Leena and Kayla Rotondo, who were teenagers, convinced their mother that the family’s unused media room needed a refresh. “It was brown and navy with reclining chairs and super not welcoming,” says Kayla, 19.

Kayla was inspired by a Pinterest photo of reality star Khloé Kardashian ’s theatre room, especially its long, glamorous cream-coloured couch. Stone and Gregory outfitted the Rotondos’ screening room with a custom-built daybed with grey velvet cushioning, floating lounge chairs, fluffy cream pillows and faux fur blankets, shimmery grasscloth wallpaper, hand-blown glass sconces and candy jars. It cost $42,000.

“It was soooo fun that we were young and we got to bring our idea to life,” says Leena, 20. Her sister agrees. “It feels like the only room in the house that was just for me and Leena,” Kayla says. “It wasn’t anyone’s vision but ours.”

Savannah, Georgia-based Khoi Vo , who is the CEO of the American Society of Interior Designers, thinks it’s “wonderful” that youngsters are interested in home design, which gives family members a forum for communicating with each other and thinking about how they live together. “As a dad to a pre-teen, I think any chance a parent can get to engage in dialogue with their kids is an opportunity,” says Vo.

Vo emphasises that families need to recognise an interior design project’s constraints, whether it’s money, time, space, scale or all of the above. “A child might say, ‘I want a turret that I can shoot an arrow out of and a moat with alligators,” he says, noting that, yes, of course it’s okay to say no to the castle.

“If you’re designing a space just for you—you’re the only one who is going to use it—you don’t need to seek your 12-year-old son’s opinion,” Vo says. When it comes to the living room, though, Vo says it’s fine to talk as a family about it—but, that doesn’t mean the son needs the wall of television screens he wants for sports night.

Houston interior designer David Euscher thinks the pandemic made everyone become more aware of how they live in their own environments and how spaces influence behaviour. “Even without that event,” he says, “young people look for ways to exercise some control over their lives, and influencing their parents’ design choices at home is one way to do it,” he says.

In 2022, Wendy Becktold, 53, of Berkeley, Calif., hired local interior designer Nureed Saeed, owner of Nu Interiors, to design a bedroom for her son, Simon. Wendy Becktold, an editor, and her family moved into a roughly 2,400-square-foot, three bedroom 1922 Craftsman house in 2016, which she and her husband purchased for $1.3 million.

“Since I’m the youngest child, when we moved, I obviously got the smallest room,” says Simon, 16, who has an older sister. “For my furniture, I got hand-me-downs from everyone else. It was little-kid, vandalised furniture all around my room. So I leveraged that, and was like, well, mom, I have the smallest room and the worst furniture. Maybe it would be a good idea to get a little room redo. I guess it worked.”

Saeed created image boards featuring varying furniture and colours and she and Simon talked through the selections. He gravitated toward Midcentury Modern shapes, walnut woods and a colour palette of navy, tan, white and black with a hint of greige.

“Definitely more adult than I would have expected out of a 14-year-old,” Saeed says. As his space morphed into his new one with fresh paint, furniture and lighting, Simon says, “It was surreal to watch it become my room after I’d been speculating about how cool it was going to be.”

Once the bedroom project was complete, Saeed moved onto designing the living room and entryway, where Simon expressed his preferences for modern furniture. “I didn’t want to overstep my role as the youngest child,” he says, “but I did definitely say, ‘This is cool,’ ‘This is a good idea,’ ‘I’m not as keen on these things, like a couch.’”

The house project had limits. “We made careful considerations for our interior design selections because it’s quite an investment,” Wendy Becktold says. The bedroom project, for example, cost close to $10,000, but she says it was worth it, as the new space can be useful even after Simon leaves the nest someday.

The Becktolds’ project is an example of how Saeed thinks there has been a societal shift in how children are regarded today. “We view them as their own humans who, even at young ages, their opinions are worth honouring and listening to,” she says.

“It’s not like children sit down buttoned-up for a kick off meeting, but at some point, parents are always like: My kids really like this thing but I don’t know how to integrate it,” says Los Angeles-based Emily LaMarque, founder of an eponymous firm, who designed the Tennenbaum family’s house in Washington.

LaMarque says her recent clients’ offspring often fall into two camps: those who are inspired by nature or music. “There’s a lot of Taylor Swift,” she says, noting that for music fans, it’s less about capturing a specific musician’s aesthetic and more about exuding a vibe—though LaMarque will coordinate album cover posters with other artwork and decor.

One 10-year-old gave LaMarque four iterations of her bedroom floor plan. “Specifically, she said ‘I want a pale wood bed here. I want two nightstands. I want my two guitars to go here. I want a credenza—and I want a record player on it so it needs to be deep enough and I want plants on it.’”

LaMarque riffed back and forth with one 13-year-old drama lover, whose bedroom they decided to outfit with a nook that has curtains that can be tied back so the girl could have a theatre area. LaMarque says, “when she got her new bedding that she had helped pick out, she was literally jumping up and down.”

As European hot spots become overcrowded , travellers are digging deeper to find those less-populated but still brag-worthy locations. Greenland, moving up the list, is bracing for its new popularity.

Aria Varasteh has been to 69 countries, including almost all of Europe. He now wants to visit more remote places and avoid spots swarmed by tourists—starting with Greenland.

“I want a taste of something different,” said the 34-year-old founder of a consulting firm serving clients in the Washington, D.C., area.

He originally planned to go to Nuuk, the island’s capital, this fall via out-of-the-way connections, given there wasn’t a nonstop flight from the U.S. But this month United Airlines announced a nonstop, four-hour flight from Newark Liberty International Airport in New Jersey to Nuuk. The route, beginning next summer, is a first for a U.S. airline, according to Greenland tourism officials.

It marks a significant milestone in the territory’s push for more international visitors. Airlines ran flights with a combined 55,000 seats to Greenland from April to August of this year, says Jens Lauridsen, chief executive officer of Greenland Airports. That figure will nearly double next year in the same period, he says, to about 105,000 seats.

The possible coming surge of travellers also presents a challenge for a vast island of 56,000 people as nearby destinations from Iceland to Spain grapple with the consequences of over tourism.

Greenlandic officials say they have watched closely and made deliberate efforts to slowly scale up their plans for visitors. An investment north of $700 million will yield three new airports, the first of which will open next month in Nuuk.

“It’s the rumbling before the herd is coming,” says Mads Mitchell, general manager of Hotel Nordbo, a 67-room property in Nuuk. The owner of his property is considering adding 50 more rooms to meet demand in the coming years.

Mitchell has recently met with travel agents from Brooklyn, N.Y., South Korea and China. He says he welcomes new tourists, but fears tourism will grow too quickly.

“Like in Barcelona, you get tired of tourists, because it’s too much and it pushes out the locals, that is my concern,” he says. “So it’s finding this balance of like showing the love for Greenland and showing the amazing possibilities, but not getting too much too fast.”

Greenland’s buildup

Greenland is an autonomous territory of Denmark more than three times the size of Texas. Tourists travel by boat or small aircraft when venturing to different regions—virtually no roads connect towns or settlements.

Greenland decided to invest in airport infrastructure in 2018 as part of an effort to expand tourism and its role in the economy, which is largely dependent on fishing and subsidies from Denmark. In the coming years, airports in Ilulissat and Qaqortoq, areas known for their scenic fjords, will open.

One narrow-body flight, like what United plans, will generate $200,000 in spending, including hotels, tours and other purchases, Lauridsen says. He calls it a “very significant economic impact.”

In 2023, foreign tourism brought a total of over $270 million to Greenland’s economy, according to Visit Greenland, the tourism and marketing arm owned by the government. Expedition cruises visit the territory, as well as adventure tours.

United will fly twice weekly to Nuuk on its 737 MAX 8, which will seat 166 passengers, starting in June .

“We look for new destinations, we look for hot destinations and destinations, most importantly, we can make money in,” Andrew Nocella , United’s chief commercial officer, said in the company’s earnings call earlier in October.

On the runway

Greenland has looked to nearby Iceland to learn from its experiences with tourism, says Air Greenland Group CEO Jacob Nitter Sørensen. Tiny Iceland still has about seven times the population of its western neighbour.

Nuuk’s new airport will become the new trans-Atlantic hub for Air Greenland, the national carrier. It flies to 14 airports and 46 heliports across the territory.

“Of course, there are discussions about avoiding mass tourism. But right now, I think there is a natural limit in terms of the receiving capacity,” Nitter says.

Air Greenland doesn’t fly nonstop from the U.S. because there isn’t currently enough space to accommodate all travellers in hotels, Nitter says. Air Greenland is building a new hotel in Ilulissat to increase capacity when the airport opens.

Nuuk has just over 550 hotel rooms, according to government documents. A tourism analysis published by Visit Greenland predicts there could be a shortage in rooms beginning in 2027. Most U.S. visitors will stay four to 10 nights, according to traveler sentiment data from Visit Greenland.

As travel picks up, visitors should expect more changes. Officials expect to pass new legislation that would further regulate tourism in time for the 2025 season. Rules on zoning would give local communities the power to limit tourism when needed, says Naaja H. Nathanielsen, minister for business, trade, raw materials, justice and gender equality.

Areas in a so-called red zone would ban tour operators. In northern Greenland, traditional hunting takes place at certain times of year and requires silence, which doesn’t work with cruise ships coming in, Nathanielsen says.

Part of the proposal would require tour operators to be locally based to ensure they pay taxes in Greenland and so that tourists receive local knowledge of the culture. Nathanielsen also plans to introduce a proposal to govern cruise tourism to ensure more travelers stay and eat locally, rather than just walk around for a few hours and grab a cup of coffee, she says.

Public sentiment has remained in favour of tourism as visitor arrivals have increased, Nathanielsen says.

—Roshan Fernandez contributed to this article.

Nestled in the dynamic heart of Riyadh, Hilton Riyadh Olaya announced the opening of eforea Spa & Health Club, a bespoke wellness haven designed to cater to the evolving needs of a new generation of travellers and those seeking healthier lifestyles. This sanctuary provides an unparalleled setting for wellness and rejuvenation, offering an exceptional blend of traditional and innovative spa treatments inspired by the world’s most renowned spa cultures.

A serene retreat from the bustling city life, eforea Spa & Health Club brings Hilton’s globally renowned spa concept to Riyadh, offering a transformative journey through a range of meticulously crafted treatments. Guests are encouraged to ‘emerge brighter’ from an immersive selection of restorative and energising experiences. Centered around the Essentials Journey and the signature Escape Journey, each path is meticulously tailored to meet individual wellness needs. Complementing these are bespoke Enhancements—targeted mini-treatments that enrich the primary services or can be enjoyed independently. The spa also boasts luxurious amenities, including an infinity pool and an experience shower, alongside a comprehensive suite of treatments such as baths, massages, body scrubs, and wraps.

Stephen Reiter, General Manager of Hilton Riyadh Olaya, stated, “Our eforea Spa & Health Club embodies a holistic approach to wellness, offering a serene escape where guests can indulge in personalized and thoughtful wellness experiences. Every aspect of eforea has been meticulously designed to ensure it serves as an unparalleled retreat, ensuring that every guest leaves feeling renewed, uplifted, and refreshed.”

The spa’s comprehensive offerings, starting with the Essentials Journey, feature a variety of facials such as the Lumiere Brightening Facial, which revitalizes the complexion with vitamin C and skin-brightening agents for a radiant finish, and the Collagen Boost Facial, aimed at reducing fine lines with potent anti-ageing formulations. The Deep Tissue Massage alleviates deep-seated tension, enhancing physical harmony, while the Tropical Renewal Ritual provides a cleansing and nourishing experience with a luxurious blend of sugar and coconut scrub enriched with monoi fruit essence, followed by a hydrating body wrap for ultimate relaxation.

The signature Escape Journeys offer a range of experiences to help guests unwind, including the Moroccan Hammam and Royal Hammam, both crafted to purify and nourish the body. The exclusive Emerge Brighter Package combines a tropical renewal ritual, personalized massage, and prodige oxygen facial to deliver radiant relaxation and rejuvenation. Additionally, targeted Journey Enhancements provide specialized massages for the head & face, shoulders, neck & scalp, and feet, each tailored to enhance the guest’s overall spa experience.

As Hilton Riyadh Olaya continues to redefine luxury and hospitality in the region, the addition of eforea Spa & Health Club further cements the hotel as a pinnacle of wellness. This new facility not only underscores the hotel’s commitment to exceptional service and luxury but also offers guests a distinctive space to rediscover their sense of well-being in a tranquil setting.

Porsche has presented its Formula E car for the next two seasons: the new Porsche 99X Electric. The all-electric open-wheel racer complies with the regulations for the updated third generation of Formula E cars, called GEN3 Evo, and features all-round improved Porsche in-house developments.

The new Porsche 99X Electric made its debut online on 24 October, in a film with Bruno Correia, the Formula E safety car driver and GEN3 Evo development driver. The key technical innovations comprise activation of front wheel drive, higher grip tires, and a modified front wing. World Champion Pascal Wehrlein and António Félix da Costa, last season’s driver with the most wins, retain their positions as the drivers for the works TAG Heuer Porsche Formula E Team. The two Andretti Formula E customer cars will have former World Champion Jake Dennis, and the new Porsche works driver Nico Müller at the wheels.

Refined Porsche in-house developments

The evolution model inherits Porsche’s most successful formula sports car to date: In its GEN3 version, the Porsche 99X Electric won the drivers’ world championship two years in a row – with Dennis in 2022/2023, and with Wehrlein in 2023/2024. The concept remains the same: Per the regulations, the available energy is restricted. This forces the teams and their drivers to optimise the efficiency of the cars across all areas. Components developed by the manufacturer were allowed to be changed for the GEN3 Evo. Porsche’s development department in Weissach took the opportunity to exploit the optimisation potential identified over the past two seasons – particularly in terms of drive. The homologation of the manufacturer components is valid for two seasons once again. The fourth car generation, GEN4, is set to be introduced for Season 13 (2026/2027).

New features – GEN3 Evo

The key technical innovations of the GEN3 Evo relate to the standardized hardware of all teams and manufacturers taking part.

From now on, front-wheel drive may be engaged in the qualifying duels, during race starts, and during Attack Mode. This gives the cars temporary all-wheel drive, enabling the Porsche 99X Electric to accelerate to 100 km/h in around two seconds. Making the engagement of front-wheel drive as efficient as possible represents another technical challenge, with the lessons learned also benefitting Porsche’s Road cars.

Higher performance tires from exclusive supplier Hankook will help the Formula E cars reach even higher speeds in the new season. Each car will still only have two sets of tires available per race weekend (three sets for double headers). The tire profile makes the tires suitable for both dry and wet conditions.

The evolution model is primarily recognizable by its modified front wing. The new form should make it more stable, enabling it to withstand contact better. Further modifications to the cladding were made behind the roll bar and in front of the rear wheels.

Colors based on the product spearhead

Purple Sky Metallic and Shade Green Metallic – these are the new colors on the cladding of the Porsche 99X Electric. These were the colors that Porsche used to present the new spearhead of its electric sports cars for the road at the start of the year: the Taycan Turbo GT, the most powerful production car the brand has ever built. The shades of purple and green replace the traditional combination of black, white and red. They symbolise the technology transfer from motorsport to production. The colour change also represents electrification and Porsche’s pioneering spirit: The aim being to also visually express the company’s innovative strength in the progressive Formula E.

Next up

The TAG Heuer Porsche Formula E Team and Andretti Formula E will take part in Formula E’s official pre-season testing in Valencia, Spain (4 to 7 November). In addition to Wehrlein and da Costa, the two female drivers Gabriela Jílková and Marta García from Czechia and Spain will be taking the wheel of the two works Porsches in Valencia.

Thomas Laudenbach, Vice President Porsche Motorsport: “We build future sports cars, so we also want our appearance to be progressive. The young and innovative Formula E is an excellent platform for promoting our electric production sports cars. The preparation for the season thus far fills me with confidence that not only do we look good, but we can also build on the successes of last season. The bar has been set high: With Pascal as the World Champion, we are at the pinnacle of Porsche’s formula racing history to date.”

Florian Modlinger, Director Factory Motorsport Formula E: “The biggest development task was and is the implementation of the temporary all-wheel drive. Since the hardware was already available for GEN3, a huge amount of work has gone into aligning the software. On the one hand we want to maximise acceleration and cornering speeds with the all-wheel drive. On the other hand, the goal is to not consume too much energy and to keep the car balance to the liking of the drivers. A task that is also relevant for our sports cars for the road.”

Pascal Wehrlein, Porsche works driver: “The new Porsche 99X Electric is a very cool car. I love the colors so much that I designed my helmet the same way. It also goes without saying that I am proud to now have number 1 on the nose of my car. I want to defend my title and the preparations for the new season are going according to plan.”

António Félix da Costa, Porsche works driver: “We are excited to see where we are at. The all-wheel drive, the new tires, and the comprehensive overhaul of our own components may shake things up a bit, even though there aren’t any major changes to the regulations. I’m optimistic and am pleased that we will be lining up in São Paulo again at the beginning of December. Hopefully the fans will love our new colors.”

Technical data – Porsche 99X Electric (GEN3 Evo)

Drive power

• Normal operation: 300 kW (408 hp)
• Attack Mode, qualifying duels: 350 kW (476 hp)

Power transmission

• Normal operation: rear
• Attack Mode, qualifying duels, race starts: all-wheel drive

Acceleration

• 0–100 km/h: approx. 2.0 s

Energy recovery

• Up to 600 kW recuperation power (brake energy recovery)
• Approx. 50 % of the drive energy per race comes from brake energy recovery

Brakes

• Regenerative braking system: up to 250 kW electric braking power on the front axle, up to 350 kW on the rear axle
• Additional deceleration through friction brakes on the front axle (“Brake by Wire” system)
• Front brake disc outer diameter: 258 mm
• Friction brakes on the rear axle only active in an emergency (if recuperation fails)

Tires

• Profiled Hankook iON Race for dry and wet conditions
• 2 sets per race weekend and per vehicle (3 for double headers)

Lithium-ion battery

• Supplied standard component
• Usable storage capacity: 38.5 kWh
• Weight: 285 kg

CCS charging system (Combined Charging System)

• Designed for extremely fast charging with up to 600 kW charging power

Weight and dimensions

• Weight: 862 kg including driver
• Length: 5016 mm, width: 1700 mm, height: 1023 mm
• Wheelbase: 2970 mm
• Ground clearance: up to 65 mm
• Front track: 1440 mm
• Rear track: 1380 mm

Key in-house developments

Pulse inverter, electric motor, gearbox, differential, drive shafts and other drive components on the rear axle as well as cooling, support and suspension components on the rear axle, operating software

Key standard components

Chassis and body, wheels and tires, drive, cooling and suspension components on the front axle, accumulator

Porsche in Formula E

Porsche contests its sixth Formula E season in 2024/2025. In addition to the works-run TAG Heuer Porsche Formula E Team, the American customer outfit Andretti Formula E competes with the Porsche 99X Electric.

October 22 marked a new milestone in aviation history as Qatar Airways operated the world’s first Boeing 777 aircraft equipped with Starlink technology on its first flight from Doha to London. This groundbreaking achievement underscores Qatar Airways’ commitment to technological advancement and enhances its reputation as the World’s Best Airline, as recognized by Skytrax in 2024.

As the largest and first airline in the MENA region to integrate Starlink’s ultra-high-speed, low-latency internet, Qatar Airways is setting a new standard for in-flight connectivity. The service is complimentary for passengers, providing seamless internet access from the moment they board until they disembark.

Initially targeting three Starlink-equipped aircraft, Qatar Airways has announced plans to introduce 12 Boeing 777-300s with this innovative service by the end of 2024. Moreover, the airline aims to roll out Starlink across its entire Boeing 777 fleet by 2025, a full year ahead of its original schedule. The Airbus A350 fleet will follow suit in the summer of 2025, further demonstrating the airline’s dedication to improving the passenger experience.

Starlink, engineered by SpaceX, offers passengers reliable and high-speed internet access, allowing them to stay connected with family and friends, stream their favorite shows, watch live sports, engage in online gaming, or work efficiently at 35,000 feet. With just one click, passengers can enjoy free connectivity throughout their journey.

Engr. Badr Mohammed Al-Meer, Group CEO of Qatar Airways, expressed his enthusiasm for the launch, stating, “We are thrilled to launch our first Starlink-equipped flight, proving once again why Qatar Airways is at the forefront of the aviation industry.

“This milestone, paired with our commitment to rapidly roll-out Starlink across our entire modern fleet, demonstrates our relentless pursuit of offering passengers an in-flight experience that transcends the constraints of traditional air travel.

“By providing Starlink reliable, seamless internet on board, we are connecting people to the things they love the most even at 35,000 feet, making every journey with us a memorable one.”

Leveraging advanced satellites with its deep experience with both spacecraft and on-orbit operations, Starlink delivers internet access around the world, including over oceans and other remote locations previously unreachable by traditional cell or Wi-Fi signals. “Overtime you’ll find it just gets better and better. This is the minimum and it only gets better from here,” said SpaceX CEO Elon Musk.

The launch of the first Starlink-equipped flight also highlights several industry firsts for Qatar Airways:

• The world’s first Starlink-equipped Boeing 777
• The first Starlink-enabled aircraft for Qatar Airways
• The first Starlink-equipped passenger aircraft in the MENA region
• The first Starlink Supplemental Type Certificate (STC) for a Boeing aircraft
• The largest passenger aircraft equipped with Starlink
• The longest-range Starlink-equipped passenger aircraft

This collaboration with Starlink represents a significant advancement for Qatar Airways, enhancing its onboard experience and ensuring that passengers have access to reliable internet connectivity, even over oceans and remote locations previously unreachable by traditional signals.

As Qatar Airways continues to roll out Starlink technology across its fleet, passengers can expect an elevated travel experience that connects them to the world, no matter where they are flying. This innovative leap not only enhances the airline’s already award-winning service but also sets a new benchmark for excellence in the aviation industry.

 invygo, the Middle East’s leading car subscription platform, today announced its latest funding round in the form of a $8 million Series A extension. The funding was provided by STV’s newly launched NICE Fund, which provides non-dilutive capital through a novel equity-based structure, as well as existing investors including Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP, and C5.

With invygo surpassing a $100 million in annualized GMV, the company has strategically focused on achieving industry-leading unit economics and maximizing customer lifetime value (LTV). Growth has been driven largely by the success of its innovative and pioneering “Subscribe to Own” (STO) model, particularly in Saudi Arabia. The company is now nearing profitability, which is expected by the end of FY 2024.

Eslam Hussein, co-founder and CEO of invygo, said: “We are thrilled to welcome STV as a key partner in our journey. With the continued trust and support of our existing investors, we’re positioned to unlock new growth opportunities while keeping profitability firmly within our sights. This round comes after 24 months without external capital, a testament to our commitment to building a financially sustainable business that is reshaping mobility. Our focus remains on driving meaningful impact in customer experience and the broader global mobility landscape from the Middle East.”

By challenging both car ownership and traditional funding models, invygo continues to carve a unique path in the rapidly evolving mobility sector, with a special focus on expanding its “Subscribe to Own” (STO) offering.

Ihsan Jawad, General Partner at STV, said: “We are excited to back invygo as one of our early deals in STV’s newly launched NICE Fund. Saudi Arabia’s economic growth is being driven by rapid technological adoption, and invygo is leading the charge in redefining access to mobility. invygo’s ‘Subscribe to Own’ model has uniquely empowered individuals across Saudi Arabia, providing a seamless and accessible path to vehicle ownership through their mobile devices. We are excited to support invygo as they scale further.”

invygo’s STO model has accelerated the company’s growth, especially in Saudi Arabia, where securing financing for car ownership has historically been a challenge. With Subscribe to Own, Saudi nationals and residents now have a clear, affordable route to mobility, with many using car access to unlock new opportunities.

Pulkit Ganjoo, co-founder and Chief Data Officer at invygo, added: “We’ve seen firsthand how empowering access to mobility can be. With invygo access to mobility and car ownership has been simplified similar to how music, movies and more have reached new audiences through subscriptions. By using data to understand supply, pricing dynamics, and customer preferences, we’ve built a product ecosystem that scales efficiently, ensuring optimal vehicle utilization and supporting our strong unit economics as we move toward profitability.”

Since its founding in 2019, invygo has raised over $22 million from regional and global investors. invygo’s Series A extension closed in June 2024. The company remains focused on building financially sustainable operations, underpinned by industry-leading unit economics and an innovative approach to car ownership.

The Jetour brand, under its exclusive agent “National Motors Supplies,” continues to enhance its outstanding performance in the Saudi market and achieve remarkable success during 2023 and 2024, solidifying its position in the Chinese car market and the SUV segment.

Jetour’s exceptional performance in 2023 marked a significant leap, as it topped the list of the fastest-growing Chinese brands overall in the Kingdom and ranked second in the fastest-growing automotive brands. It also secured first place in sales of Chinese C-segment SUVs this year. This remarkable progress has strengthened Jetour’s position, making it the second-largest brand in the overall automotive sector in the Saudi market.

In 2024, Jetour continues its streak of success, maintaining first place in sales of Chinese C-segment SUVs. The Jetour “Dashing” model has gained widespread popularity among customers, achieving the top spot in Chinese C-segment SUVs up to July of this year. This model stands out for its modern design that combines elegance and innovation, powered by a 1.6-liter turbo engine with four cylinders, delivering 194 horsepower and 290 Nm of torque, offering strong performance and high fuel efficiency. Additionally, it features smart technologies that support driver safety.

In the D-segment SUVs, the Jetour T2 model excelled by securing first place among Chinese brands and second place in the Saudi market for this segment. It is powered by a turbocharged four-cylinder engine, delivering 251 horsepower and 390 Nm of torque, paired with a seven-speed dual-clutch transmission, making the vehicle ideal for various terrains. The T2 also boasts an all-wheel-drive system and XWD system, providing high stability and responsiveness on diverse roads.