ALEXA IS IN MILLIONS OF HOUSEHOLDS—AND AMAZON IS LOSING BILLIONS
Company’s strategy to set prices low for Echo speakers and other smart devices, expecting them to generate income elsewhere in the tech giant, hasn’t paid off
7 min
Amazon.com ’s Echo speakers are the type of business success companies don’t want: a widely purchased product that is also a giant money loser.
Chief Executive Andy Jassy is trying to plug that hole—and move away from the Amazon accounting tactic that helped create it.
When Amazon launched the Echo smart home devices with its Alexa voice assistant in 2014, it pulled a page from shaving giant Gillette’s classic playbook: sell the razors for a pittance in the hope of making heaps of money on purchases of the refill blades.
A decade later, the payoff for Echo hasn’t arrived. While hundreds of millions of customers have Alexa-enabled devices, the idea that people would spend meaningful amounts of money to buy goods on Amazon by talking to the iconic voice assistant on the underpriced speakers didn’t take off.
Customers actually used Echo mostly for free apps such as setting alarms and checking the weather. “We worried we’ve hired 10,000 people and we’ve built a smart timer,” said a former senior employee.
As a result, Amazon has lost tens of billions of dollars on its devices business, which includes Echos and other products such as Kindles , Fire TV Sticks and video doorbells, according to internal documents and people familiar with the business.
Between 2017 and 2021, Amazon had more than $25 billion in losses from its devices business, according to the documents. The losses for the years before and after that period couldn’t be determined.
It is a high-stakes miscalculation the tech giant made under founder Jeff Bezos that current CEO Jassy, who took the helm in 2021 , is now trying to change. As part of a plan to reverse losses, Amazon is launching a paid tier of Alexa as soon as this month, a move even some engineers working on the project worry won’t work, according to people familiar with those efforts.
An Amazon spokeswoman said the devices division has established numerous profitable businesses and is well-positioned to continue doing so, adding: “Hundreds of millions of Amazon devices are used by customers around the world, and to us, there is no greater measure of success.” The company declined to make Jassy or Panos Panay, who leads devices, available for an interview.
As Jassy tries to fix it, he is rethinking the obscure Bezos-era metric inside Amazon that helps explain why Echo and other devices could accrue such huge losses for so long with little repercussion. Called “downstream impact,” or DSI, it assigns a financial value to a product or a service based on how customers spend within Amazon’s ecosystem after they buy it.
Downstream impact has been used across Amazon business lines, from its Prime membership program to its video offerings and music.
The metric was developed in 2011 by a team of economists including an eventual Nobel Prize winner. In some instances, the model worked clearly. When customers buy Amazon’s Kindle e-reader—one of Amazon’s profitable devices—they are very likely to then buy ebooks to read on that device. Ebooks are part of the books business, not the devices business, but Amazon leaders said it made sense for the Kindle team to claim part of revenue when assessing their product’s internal value.
Similarly, some revenue from advertisements displayed on Fire TV streaming devices is also claimed as Fire TV revenue.
Some Amazon devices can count on direct revenue, such as by selling users subscriptions attached to the product. More than half of customers who buy smart-camera doorbells from Ring, another profitable Amazon device that the company bought in 2018, purchase security subscriptions.
In other cases—especially Echo devices—the downstream impact idea broke down, said the people familiar with the devices business.
Unlike the revenue, operating profit and other financial metrics Amazon and other companies report publicly, downstream impact is an estimate used internally, and not a particularly scientific or precise one.
Echo and other devices are generally sold at or below the cost to make them. The devices team, in internal pitch meetings to senior management, would claim the top end of a range of estimated revenue from downstream impact, some of the people said. The team relied heavily on the metric to justify costs related to Echo and other devices and the growing size of staff devoted to the business, which at one point swelled to more than 15,000 employees across all its products.
The system also enabled divisions to count the same revenue more than once, according to former executives. For example, if a customer bought an Echo device and Amazon’s Fire TV streaming stick, and then signed up for Amazon Prime, both the Echo team and the Fire TV team could claim cuts of the revenue from the Prime subscription.
Other downstream impact revenue that helped Echo devices look financially better on paper internally came from Amazon Music, a Spotify competitor with a $10 monthly subscription version.
The devices team also claimed a piece of shopping revenue, because people can use Alexa to order or reorder goods—though former employees on the Alexa shopping team say that doesn’t contribute meaningful e-commerce revenue.
The Amazon spokeswoman said more than half of Echo owners have used it to shop but declined to answer questions on how much they buy or how often they do so.
“Basically DSI was the golden thing that kept us all afloat all these years,” said a former longtime Amazon employee who worked on Echo.
Racing Google
Amazon’s devices operation was a pet project of Bezos, and the Alexa voice assistant and the Echo speakers through which it communicated were inspired by his interest in the spaceship computer in “Star Trek.”
“When launching products back then, we didn’t have to have a profit timeline for them,” said a former longtime devices executive. “We had to get the system in people’s homes and we’d win. Innovate, and then figure out how to make money later.”
To do that, the team had to keep prices low. Amazon sometimes even gave away versions of the smart speaker as part of promotions in a bid to get a larger base of users.
“We don’t have to make money when we sell you the device,” former Amazon devices senior vice president Dave Limp told The Wall Street Journal in 2019. “Instead, we make money when people actually use the device.”
Amazon was up against competition from giant rivals including Google, whose line of smart speakers was priced very low. Both companies were trying to grab space in as many homes as possible. “We were constantly checking their pricing. There would be water cooler talk like ‘what are we trying to [do], race Google to the bottom?’” said a former person on the Echo team.
Bezos protected the devices team, even as losses mounted, said people familiar with the unit, continuing investment and expanding staffing.
In 2018, devices lost more than $5 billion. It was spending lavishly to develop devices such as an in-home robot eventually named Astro that could act as a smart butler. Unveiled in 2021 but still sold only by invitation, Astro boasts a $1,600 price tag and more than $1 billion in total development costs. This month, Amazon killed off its Astro for Business product.
An Amazon spokeswoman denied Bezos shielded the devices business or treated it any differently than Amazon’s other businesses.
Despite Bezos’ well-known mantra to take risks and “fail fast,” the losses racked up over years. Customers weren’t shopping on the device, and attempts to sell services such as security through Alexa also floundered. Pushing advertisements through the smart speakers bothered users, so Amazon limited their use.
In 2019, device losses increased to more than $6 billion, according to internal documents. Still, the device team introduced new products, such as the Luna gaming streaming service with corresponding devices and the Halo fitness tracker.
Jassy’s profitability review
Jassy, who had headed Amazon’s lucrative cloud-computing business before becoming CEO, has a reputation as an operator laser-focused on profits.
Soon after taking the reins from Bezos three years ago, he did a profitability review of Amazon’s business lines, from retail and logistics to advertising. He zeroed in on the money-losing devices business , the Journal has reported.
Teams working on new devices without a clear path to profitability were disbanded. Those working on more mature products that weren’t showing revenue or profits were instructed to develop revenue streams. Jassy often asked leaders to demonstrate a path to profitability without using downstream impact as a crutch, according to people familiar with the discussions.
In October 2022, Amazon killed off Amazon Glow, a video-calling gadget that was losing money on each sale—and wasn’t recouping the losses when customers used it or paid a fee for content. The product had launched only a year earlier. Jassy had told the team that he wanted it to be profitable before downstream impact.
The Amazon spokeswoman said the company plans to continue measuring the success of its businesses in part by how they help other parts of the company grow.
In late 2022, Amazon’s senior team put plans in place to begin laying off corporate employees in order to shore up profits across Amazon. Devices were a focus of the cuts.
More devices were shut down last year, including the Halo, Amazon’s fitness wearable. In late 2023, Limp, the Amazon devices head, left Amazon after more than 13 years at the company. He said in a note to employees that “It’s not because I am less bullish about the devices and services business.”
Jassy’s team also zeroed in on Alexa and the Echo device. While the technology behind Echo is wildly popular—there are more than 500 million Alexa-enabled devices globally—Jassy urged the teams to find ways to monetise the device and its technology.
A group was assembled under Amazon vice president Heather Zorn to create a way to charge customers a fee for Alexa. Code-named “Banyan,” like the tree, the group has been working to create a product called “Remarkable Alexa,” that would be built on an entirely new technology stack and have more capabilities than the current version of Alexa installed on Amazon devices, according to people familiar with the matter. Business Insider previously reported some details about Remarkable Alexa.
The new technology would more seamlessly allow users to control functions like smart home devices using their voices rather than opening an app. It will also incorporate generative artificial intelligence more than the current Echo experience. Bezos hinted at a new version of Alexa in a podcast interview in December. “Alexa is about to get a lot smarter,” he told the host.
Zorn’s team is slated to launch the new Alexa subscription service as soon as this month, and the team is still figuring out what it should charge, according to one of the people.
One person who worked on the team said some members were skeptical about whether customers would want to pay for yet another subscription in an age of cord-cutting, since people already pay a la carte for subscriptions such as Netflix, Spotify and even Amazon’s own services Prime and Amazon Music. The person also said some members worried that the new Alexa didn’t offer a compelling enough product worth paying for.
“The technology isn’t there, but they have a deadline” to launch the product, the person said.
The Amazon spokeswoman said that Amazon is closer than ever to building the world’s best personal assistant and that the opportunity is greater than what would appear on a balance sheet.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This milestone confirms the success of the company’s 360-degree strategy built on brand and product innovation and excellence in the luxury super sports car segment.
3 min
With a total of 10,687 cars delivered during 2024, equivalent to an increase of 6% compared to 2023, Automobili Lamborghini scores the best annual result in its history for deliveries to customers. This milestone testifies to the marque’s client loyalty as well as a growing new customer base and confirms the success of the company’s 360-degree strategy built on brand and product innovation and excellence in the luxury super sports car segment.
“2024 was a year of continuous growth for Automobili Lamborghini, in line with the positive trend of the last several years: an accomplishment that reflects the increasingly strong bond we have with our customers and the growing interest in our brand shown by new generations,” remarked Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini. “In a period of transformation, we have introduced models that earned the seal of approval, reflecting our commitment to always pushing boundaries and expectation while focused on sustainable development. The results highlight the success of strategically balancing supply and demand, along with a well-calibrated order portfolio, strengthening the brand’s desirability and the residual value of our products.”
In 2024 all three macro-regions experienced growth compared to previous years, showing a positive and balanced trend that is also reflected in the individual markets in which Automobili Lamborghini operates. The EMEA area led the expansion with a 6% increase and 4,227 cars delivered, followed by the Americas up 7% with 3,712 units. The APAC region registered an increase of 3%, reaching a total of 2,748 cars distributed.
“2024 was an extraordinary year for Automobili Lamborghini, with results that reflect not only the strength of our product portfolio, but also the crucial support of our network of 186 dealers and the brand’s well-established presence in all 56 international markets where we operate,” said Federico Foschini, Chief Marketing and Sales Officer. “Thanks to the strategy adopted, we demonstrated that Automobili Lamborghini is not only a leader in the super sports car segment, but also a touchstone for the future of luxury automobiles.”
Balanced growth was also recorded across the three models in the lineup, with the top place going to the Revuelto, the first super sports V12 hybrid HPEV produced in Sant’Agata Bolognese. Right from its presentation in March 2023, the Revuelto grabbed the attention and interest of customers worldwide. Renowned internationally for its exceptional performance and bold design, the Revuelto has secured a strong order portfolio that extends until the end of 2026.
Alongside the Revuelto, the Huracán also played a pivotal role in the success of 2024. With production of the last cars still in progress with deliveries scheduled throughout 2025, in its five versions of Sterrato, EVO Spyder, Tecnica, STO and STJ, the Huracán is moving toward the end of its production cycle and will pass the baton to its heir, the Temerario. Unveiled in August 2024 during the USA’s Monterey Car Week, the Temerario garnered significant attention thanks to its innovative design and world-class technological features, firmly establishing itself as a genuine “Fuoriclasse”.
The role of the Urus range as a pillar of the Lamborghini lineup has been consolidated thanks to the unveiling of the Urus SE plug-in hybrid version in April 2024 at the Beijing Auto Show. This model, which is set to replace the current Urus S and Performante versions, marks a significant step forward thanks to its mix of distinctive design, cutting-edge technologies, and extraordinary versatility. The Urus SE received an immediate positive response on a global scale, reinforcing Lamborghini’s leadership in the super SUV segment.
2024 was not only a record year but an important turning point for Automobili Lamborghini. Over 18 months the company presented three new models and completed the transition towards an entirely hybrid range, in alignment with its Direzione Cor Tauri strategy, becoming the first super sports car manufacturer in the world to offer a completely electrified portfolio.
These results enable the House of Sant’Agata Bolognese to approach 2025 with its strongest product lineup ever. During 2025 and in the coming years, the company will continue to invest in technology, keeping the focus on innovation as an integral part of the most significant investment campaign in its history, and facing the challenges of the future with the same determination that marked its success in 2024.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This agreement reinforces the strong and growing partnership between them following the successful launch of Fairmont Ramla Serviced Residences last year.
2 min
Accor, the global leader in hospitality, has joined forces with Naif Alrajhi Investment to introduce the first TRIBE and TRIBE Living locations in Saudi Arabia, as part of the King Salman Park project. This collaboration marks a pivotal moment in redefining modern hospitality within the Kingdom.
This initiative, which underscores TRIBE’s global expansion, is closely aligned with Saudi Vision 2030‘s objective of fostering dynamic and vibrant urban spaces. It also builds on the successful partnership between the two entities, highlighted by the Fairmont Ramla Serviced Residences.
TRIBE sets out to transform the hospitality landscape with its modern, stylish, and accessible offerings tailored for a new generation of travelers. The King Salman Park project, spanning 290,000 square meters, will feature a mixed-use development that includes residential units, commercial offices, retail spaces, restaurants, a school, a hotel, and community facilities.
Strategically situated near major attractions and transport links, the project is designed to integrate seamlessly with the park’s natural beauty, ensuring both accessibility and harmony with its surroundings.
The new TRIBE property will offer 250 rooms, complemented by two restaurants, including a rooftop dining experience. Adaptable meeting facilities and a banquet hall will cater to business needs, while wellness-focused amenities such as a state-of-the-art gym and swimming pool ensure an enriching experience for all guests.
TRIBE Living will provide 150 modern apartments, ranging from studios to three-bedroom units, along with shared spaces like a clubhouse. Residents will enjoy access to the hotel’s dining and recreational facilities, creating a vibrant and connected community.
Naif Saleh Alrajhi, Chairman & CEO for Naif Alrajhi Investment, commented on the collaboration, stating, ” As a real estate developer and master lessee of the King Salman Park Package 1, mixed-use project, we are proud to be contributing to the realization of Vision 2030 and development of our nation’s real estate sector. We are delighted to be working with Accor once again, a trusted partner, to introduce new and iconic brands to the local market for the first time. This partnership is a significant step forward in our ongoing commitment to delivering world-class destinations that cater to both local and international audiences.”
“This collaboration is a testament to our commitment to the Saudi market and our alignment with Vision 2030. The introduction of TRIBE and TRIBE Living to Saudi Arabia showcases our focus on design-led, lifestyle experiences that meet the growing demand for modern, accessible hotel offerings in Riyadh. We are excited to continue our strong collaboration with Naif Alrajhi Investment to bring this groundbreaking project to life.” said Duncan O’Rourke, Accor’s Chief Executive Officer, Premium, Midscale & Economy brands for Middle East, Africa and Asia Pacific.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Interior designer Thomas Hamel on where it goes wrong in so many homes.
This remarkable achievement underscores the hotel’s dedication to showcasing the warmth of Jordanian hospitality through the epitome of luxury.
2 min
The Ritz-Carlton, Amman proudly announces its ranking as the #1 hotel in the Intent to Recommend (ITRec) survey for the Europe, Middle East and Africa regions, highlighting Jordan’s status as a preferred global destination for luxury travel to new heights. This remarkable achievement underscores the hotel’s dedication to showcasing the warmth of Jordanian hospitality through the epitome of luxury.
Shining a new light on the Kingdom, The Ritz-Carlton, Amman has led the rankings among 27 Ritz-Carlton properties across Europe, the Middle East, and Africa for over 28 consecutive months. Furthermore, it has ranked fifth globally out of 108 Ritz-Carlton locations in 30 countries, underscoring not only the hotel’s excellence but also its role in placing Jordan on the world stage as a premier destination for unparalleled guest experiences.
In response to this remarkable achievement, Mr. Tareq Derbas, General Manager of The Ritz-Carlton, Amman, said, “This recognition is more than a celebration of our hotel; it is a celebration of Jordan’s rich culture and the generosity of its people. Through The Ritz-Carlton, Amman, we are proud to bring Jordan to the forefront of the global luxury hospitality scene, showcasing the Kingdom’s warmth, kindness, and authenticity. Our Ladies and Gentlemen are honored to serve as ambassadors of Jordan, offering guests the very best of our country within the unmatched standards of The Ritz-Carlton.”
Mr. Derbas continued, “Our team’s passion and unwavering commitment to excellence are the true heart of this achievement. Their dedication allows us to not only exceed expectations but also elevate Jordan as a must-visit destination for travelers seeking luxury and authenticity in equal measure.”
It is worth noting that the Intent to Recommend survey is a key metric within the Marriott Group, gauging guest satisfaction across various criteria. The consistent top rankings achieved by The Ritz-Carlton, Amman reflect the tireless efforts of its Ladies and Gentlemen, who take pride in presenting the best of the Kingdom to the world. By combining Jordan’s rich heritage with world-class luxury, The Ritz-Carlton, Amman has become a beacon for travelers seeking unique and transformative experiences, ensuring every guest leaves with memories to treasure.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
The announcement comes on the back of HRE’s recent partnership with Dubai Cares to support the education of youngsters in developing countries.
2 min
As part of its vision of ‘building with purpose’ and empowering citizens both in the UAE and internationally, HRE Development – a pioneering Dubai real estate company – has confirmed it is the main sponsorship partner of the ‘Fazza International Championships for People of Determination 2025,’ joining forces with Dubai Land Department (DLD), along with the Dubai Club for People of Determination and the Dubai Sports Council.
The championships, set to commence on 01 February 2025, will be held under the patronage of His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council (DSC) and Chairman of the Higher Committee for the Protection of the Rights of People of Determination in Dubai
This announcement comes on the back of HRE Development’s recent partnership with Dubai Cares, part of Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI), whereby it extended a financial contribution of AED 30 million to Dubai Cares’ mission, ensuring that underprivileged children and youth in developing countries gain access to quality education.
As a developer, HRE has set itself a unique mission – Building with Purpose – which aims to give back at every opportunity.
The latest edition of the ‘Fazza International Championships’ features four major sports tournaments, including the 16th Fazza International Para Athletics Grand Prix, with the participation of 1,000 athletes; the first Fazza International Swimming Championship, welcoming 500 athletes; the 16th Fazza International Para-Badminton Championship, featuring 300 athletes; and the ninth Fazza Para Archery World Ranking Tournament, also hosting 300 athletes.
These events aim to create an inclusive competitive environment that brings together athletes from over 70 countries, nurturing values of excellence and inclusivity. Through these championships, which were first launched 16 years ago, Dubai seeks to reinforce its position as a city that is supportive of People of Determination, providing them with all the tools necessary to achieve success and unleash their creativity.
Wissam Breidy, CEO of HRE Real Estate Development, said: “We are honored to be the strategic partner of the Fazza International Championships, reinforcing our mission of purposeful building to leave a positive impact on the community. We are committed to creating spaces that empower individuals, foster inclusivity, and support resilience. By supporting the UAE team for People of Determination, our mission goes beyond constructing structures; it becomes about laying the foundation for dreams, aspirations, and communities where everyone has the opportunity to thrive. This mission aligns with the vision of Dubai, the UAE, and its wise leadership to create a positive impact and build a sustainable and prosperous future for all.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
New region includes 95 retail partners across 41 markets, and represents a third of global sales volume
< 1 min
Bentley Motors announces today the alignment of its business operations in the UK, Europe, Middle East, Africa and India into a combined region, now becoming the EMEA region and biggest for the luxury marque.
It will comprise 95 retail partners in 41 markets and represents approximately a third of Bentley’s sales volume globally.
Leading the new region will be Richard Leopold, Regional Director, who has over 17 years of experience with Bentley Motors and a deep understanding of complex regional markets, having already commanded each market under this new regional structure.
He adds: “I am extremely excited to continue to collaborate closely with our retail partners to drive the growth of our business across the UK, Europe, Middle East, Africa, and India under this new guise. This journey will not only focus on the launch of new models aligned with our Beyond100+ strategy but also emphasize enhancing our network and elevating the customer experience in our biggest single region in the world.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The 41,792-sq.m center capable of storing approximately 100,000 different parts will also expediate parts delivery times, supporting Ford’s expansion in the Middle East and its growing customer base.
2 min
Ford has officially inaugurated its new state-of-the-art Parts Distribution Center (PDC) in Dubai South. The 41,792-square-meter facility, developed in collaboration with DB Schenker, a global leader in logistics, comes in record time less than a year after its January 2024 groundbreaking, underscoring Ford’s commitment to better serving customers across the Middle East.
By consolidating operations into a single state-of-the-art facility, Ford is streamlining processes, significantly improving operational efficiency, while simultaneously enhancing service efficiency and accuracy. The PDC, which achieves an increase in capacity, will serve countries from the UAE to Saudi Arabia, all the way to Angola, and Ghana.
Reinforcing Ford’s dedication to placing customers at the heart of its operations, the new PDC will also improve parts availability, optimize inventory management, and expedite delivery times.
“With these improvements, we’re confident that the enhanced service levels and reduced wait times will elevate Ford’s customer satisfaction and build trust in our brands and distributors”, said Kay Hart, President of Ford International Markets Group.
Ako Djaf, VP of Contract Logistics and Supply Chain Management of DB Schenker, Middle East and Africa, commented: “At DB Schenker, we take great pride in supporting Ford’s ambitious vision for operational excellence in the Middle East. The new Parts Distribution Center stands as a testament to the power of collaboration and innovation, designed to streamline supply chain processes, enhance customer satisfaction, and contribute to sustainability goals. By leveraging our global expertise and advanced logistics solutions, we are excited to play a pivotal role in Ford’s journey to deliver exceptional service to its customers across the region.”
The new facility equipped with 20 container docks – 10 for inbound and 10 for outbound operations – is capable of storing approximately 100,000 different parts, and features state-of-the-art technology, including drones for site safety through aerial monitoring and inventory management. Utilizing an SAP S/4HANA warehouse management system, the PDC can perform paperless picking through barcode scanning improving accuracy, control, and planning, leading to better stock availability and reduced error margins.
The facility is also designed with a 1.3-meter raised floor to mitigate flooding risks as well as an industry leading fire suppression system ensuring operational safety and minimal risk of operation interruption.
As part of Ford’s regional sustainability goals, the new PDC prioritizes environmentally responsible practices. A 400kW solar panel system, to be installed in the second half of 2025 and supported by the roof structure, is expected to reduce energy costs by 35 percent and decrease the carbon footprint by 290 tons. Additionally, the facility partners with eco-friendly suppliers and scrappers to ensure that all disposals are recycled or treated in accordance with regulations.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The partnership leverages Almosafer’s extensive travel services and diverse marketing capabilities to accelerate tourism growth in Madinah while delivering enriching and varied experiences for visitors.
2 min
The Madinah Region Development Authority has announced a strategic partnership with Almosafer, the leading travel company in Saudi Arabia and a subsidiary of Seera Group, to enhance tourism in Madinah. Unveiled during the Saudi Tourism Forum 2025, this collaboration aims to position Madinah as a premier destination for visitors from within the Kingdom and beyond.
The partnership leverages Almosafer’s extensive travel services and diverse marketing capabilities to accelerate tourism growth in Madinah while delivering enriching and varied experiences for visitors. Almosafer’s market expertise and digital solutions will provide a seamless cultural and entertainment experience at competitive prices through its comprehensive portfolio for corporate, governmental, and individual clients. This initiative aligns with efforts to elevate Madinah’s tourism offerings and attract a broader audience locally and internationally.
Commenting on the partnership, Mr Bandar Naqro, General Manager of Strategic and Corporate Communications at the Madinah Region Development Authority, said: “The unique historical and cultural heritage of Madinah makes it one of the most visited cities in the Kingdom, especially with the development of numerous archaeological sites and the activation of diverse tourism destinations. Our partnership with Almosafer will strengthen the city’s offerings and marketing initiatives, contributing to increased visitor numbers and enriched experiences, thereby achieving the objectives of Vision 2030.”
Muzzammil Ahussein, CEO of Almosafer, said: “We are honored to collaborate with Al Madinah Region Development Authority to help evolve and further promote one of the Kingdom’s most culturally rich heritage sites. Almosafer’s on-ground expertise, innovative technological solutions, and extensive reach enable us to offer a bespoke holistic experience for travellers from across the world. We look forward to further positioning Madinah as a wholesome tourist destination that provides an immersive cultural experience that is bound to be an unforgettable core memory for visitors. Saudi Arabia’s rich natural heritage and world-class amenities have made it a global hotspot today, and we are proud to power the ecosystem to drive more traffic to this vibrant destination.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Bringing more than 20 years of experience in the live event, entertainment, and venue management industry, Klima will oversee the day-to-day operations in his role as General Manager.
3 min
Oak View Group (OVG) and Ethara, who recently announced their appointment as the new operators of Zayed Sports City, have now taken over operations at the iconic Abu Dhabi venue.
As operators, they have announced the appointment of Danny Klima as General Manager, as well as the appointment of other management roles including Mohamed Bu Debs as Corporate Services Executive Director, and Christoff Cronje as Operations Director.
Bringing more than 20 years of experience in the live event, entertainment, and venue management industry, Klima will oversee the day-to-day operations in his role as General Manager with a focus on enhancing Zayed Sports City’s position as a leading sporting and entertainment destination.
With Zayed Sports City established as one of the UAE’s premier venues, OVG Middle East’s focus is to boost growth at all its facilities – Zayed Sports City Stadium, International Tennis Centre, Khalifa International Bowling Centre, Zayed Sports City Ice Rink, and Pavilion, as part of their vision to transform the venue and hospitality industry in the region.
Jessica Koravos, President of Oak View Group International, said: “We are delighted to have taken over as operators of Zayed Sports City and thrilled to announce the appointment of key management roles at the venue who will be instrumental to the venue’s success as we enter a new phase in our business operations. Our ambition as operators is to create a dynamic environment at Zayed Sports City that honours its legacy while appealing to the needs and aspirations of today’s sports and event audiences.”
David Powell, Chief Strategy & Business Development Officer of Ethara, said: “These appointments are part of our long-term strategy to make an impact on our offerings that will not only contribute to the UAE’s economic growth but also solidify our position as a leading entertainment and sporting venue in the region. We are passionate about our vision for Zayed Sports City and are committed to strengthening its role as the premier destination for grassroots, national, and international sports and entertainment through the enhancement of the venue’s experiences, facilities, and community engagement, ensuring the venue continues to inspire and lead in the industry.”
Danny Klima, General Manager of Zayed Sports City, commented on his appointment: “It is a privilege to be named General Manager of Zayed Sports City, a destination revered not only within the UAE but across the region, steeped in a legacy of excellence. Looking ahead, our aim is to infuse Zayed Sports City with new energy, crafting a vibrant space that celebrates its heritage, deepens its ties with the community and offers new programs and opportunities that inspire active lifestyles, foster grassroots talent, and create experiences that are inclusive and accessible for all ages and backgrounds. We will be focused on making it a destination that not only hosts world-class events, but it continues to play a vital role in shaping the sports culture of the UAE, inspiring future generations to carry its torch forward.”
Since its inauguration in 1980, Zayed Sports City has become a cornerstone of community sports in the UAE, and has staged major events such as the Mubadala World Tennis Championships, the WTA-sanctioned Mubadala Abu Dhabi Open, five editions of the FIFA Club World Cup, AFC Asian Cup, UAE National Day celebrations, President’s Cup for Ice Hockey, World Bowling Championships, WWE Live, Special Olympics World Games, Monster Jam, notable visits from dignitaries and statesmen, including Pope Francis and India’s Prime Minister Modi, and many more.
As well as serving the local sporting community, Zayed Sports City Stadium will welcome Coldplay as part of its global ‘Music of the Spheres’ World Tour on 9, 11, 12, and 14 January 2025. The tour’s line-up of four sold-out shows is set to become the UAE’s largest ever ticketed music event.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Wide range of options to improve driving dynamics and comfort.
3 min
In addition, an extended list of standard equipment and significantly increased customization options compared to the 911 Carrera make it an attractive new member of the Carrera model family. The sports car is available in Coupé and Cabriolet versions.
The iconic 3.0-litre twin-turbo six-cylinder boxer engine has been fundamentally upgraded for use in the new 911 Carrera S. The result is a significant increase in power with a simultaneous reduction in emissions. Its output of 353 kW (480 PS), with 530 Nm of torque, represents an increase of 22 kW (30 PS) compared to its predecessor. To achieve this increased performance and efficiency, Porsche fitted new turbochargers and has extensively optimized the charge-air cooling, among other things.
The new sports car is now based on the design of the 911 Turbo models of the previous generation. The Carrera S Coupé accelerates from zero to 100 km/h in 3.3 seconds and reaches a top speed of 308 km/h when tested on the track. An eight-speed Porsche dual-clutch transmission (PDK) transmits the power to the wheels.
Extensive list of standard equipment, exclusive options
The new brake system provides a significant upgrade in terms of driving dynamics. The system, familiar from the 911 Carrera GTS and supplied as standard with red brake calipers and discs measuring 408 millimeters at the front and 380 mm on the rear, ensures outstanding rates of deceleration. Further performance-enhancing options are available.
On request, Porsche offers the track-proven Porsche Ceramic Composite Brake (PCCB) system and the PASM sports suspension, which features a 10-millimetre-lower ride height combined with optional rear-wheel steering.
The damper hydraulics have been optimised compared to the predecessor model, providing even further improved drivability with increased precision and refined responsiveness. The steering, in combination with the optional rear-axle steering, is more direct and the kinematics of the front axle have been adjusted. This ensures even more agile and direct handling while also significantly increasing stability at high speeds.
Elegant interior
An option with even more extensive use of leather is also available, covering large areas of the interior – including the glove box lid, the side panels and the seat base. On request, Porsche adds contrast stitching in Crayon.
Throughout, the Carrera S benefits from the upgraded standard equipment found in the entire model series. This includes elements such as Matrix LED headlights and a wireless smartphone charger. Options include a lift system for the front axle, the innovative HD-Matrix LED headlights and the Sport Chrono package including the Porsche Track Precision app, which is ideal for track days.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Round 2 of YAS Super Street Challenge (January 10 & 11) and Emirates Drift Championship (January 11) will take place this weekend to be held at Yas Marina Circuit, Abu Dhabi.
2 min
Following an action-packed Round 1 that attracted over 10,000 spectators to Yas Marina Circuit, Abu Dhabi’s favorite drag racing nights return for the penultimate round of the YAS Super Street Challenge on January 10 and 11. Adding even more excitement to the weekend, Round 2 of the Emirates Drift Championship will take center stage on January 11, showcasing the region’s top drifters in thrilling head-to-head battles.
Petrolheads can kick-start their weekend with the exhilarating roar of revving engines and clouds of drifting smoke in a high-octane atmosphere. Set against the backdrop of perfect UAE winter weather, YAS Super Street Challenge and Emirates Drift Championship promise heart-racing action, stunts, and the best of the automotive community at Yas Marina Circuit, the motorsport epicenter.
Complete with high-octane action and a showcase of driving skill, both events promise an unforgettable motorsport experience. Separate VIP tickets provide unique access tailored to each competition. Yas Super Street Challenge VIP tickets offer premium trackside views of the drag strip, along with light food and refreshments. While Emirates Drift Championship VIP tickets grant access to the exhilarating paddock, with exclusive front-row seats to the action.
In Round 1 of the YAS Super Street Challenge, over 100 participants battled for the coveted “King of the Street” title. As Round 2 approaches, 25 competitors will face elimination rounds on Saturday, 11 January, vying for a place in the thrilling finale this March. Meanwhile, EDC Round 2 will bring the adrenaline of high-speed drifting to Yas Marina Circuit, featuring fierce competition between the region’s best drifters following a successful first round in Liwa.
Don’t miss the atmosphere of Yas Marina Circuit’s unmissable motorsport events this season. The YAS Super Street Village, Emirates Drift Championship, and Motor Majlis are guaranteed to create an unforgettable night filled with excitement and unique automotive experiences.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
London holds a lasting fascination among Kuwait travelers, as it also recorded the highest bookings of all European cities on Wego last year.
< 1 min
Wego, the number 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), shared predictions on the top destinations favored by Kuwaiti travelers in 2025.
Leveraging current search data, Wego has pinpointed several cities that are poised to be popular among Kuwaiti travelers in the coming year.
In Europe, London takes the top spot of most searched destinations for 2025 on Wego so far.
London holds a lasting fascination among Kuwait travelers, as it also recorded the highest bookings of all European cities on Wego last year.
Wego experts noted its reign as a favorite due to its cultural allure and the enhanced accessibility afforded by the expanded UK ETA program. The online and expedited ETA program, which promises a 3-day processing period, has simplified travel, making the UK an even more attractive destination for Kuwait citizens.
Beyond London, other European cities such as Tbilisi City, Milan, Moscow, and Baku are also expected to be in high demand. These destinations offer a mix of unique and familiar cultural experiences and have been steadily climbing the ranks of preferred cities in 2025 on Wego.
In Asia, Southeast Asian cities were the most frequented by Kuwait travelers last year, a trend that is likely to continue into 2025. Manila, in particular, has seen the highest number of flight searches for the year ahead, reflecting the strong community ties between Kuwait and the Philippines.
Other Southeast Asian mainstays like Bangkok, Jakarta, and Kuala Lumpur are predicted to also dominate travel searches in 2025.
Based on Wego data, experts additionally predicted that cities outside of the SEA region like Tokyo and Seoul will continue to grow as top destinations among Kuwaitis, indicating a broadening interest in more diverse cultural and travel experiences in Asia.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Combines luxurious interiors with cutting-edge technology, including dual 12.3-inch HD screens and a BOSE premium audio system.
3 min
MG Motor has announced the launch of the new MG HS, an exceptional mid-size SUV that redefines style, performance and technology in the sector. Building on the success of the first-generation MG HS, which was voted Middle East Car of the Year by a panel of industry experts in 2020, the new model is now available across the GCC, Iraq, and Jordan. The new MG HS brings a bold new vision to the segment, building further on its international success.
The new MG HS offers exceptional value for money, with prices starting from USD 21,600 (excluding VAT). With its sporty design and advanced features, the new MG HS is perfect for younger buyers seeking passion, drive and control in their everyday adventures.
The new MG HS is designed to stand out in the competitive mid-size SUV segment, offering a perfect balance of style, performance, and technology. Its five-star Euro NCAP safety rating highlights MG’s commitment to safety, with the Level 2 Advanced Driver Assistance Systems (ADAS) providing added convenience and protection. Safety is further enhanced with features such as Intelligent Cruise Control, Automated Emergency Braking, Lane Departure Warning, Lane Keep Assist, Forward Collision Warning, and Blind Spot Information System. The vehicle includes a 360-degree HD camera, front and rear parking sensors, and up to six airbags, ensuring maximum occupant security.
Under the bonnet, the new MG HS offers two powerful and efficient engine options. Drivers can choose between a 1.5T powerplant, delivering 173 hp with a 7-speed dual-clutch transmission, or the 2.0T engine, producing 231 hp with a 9-speed automatic transmission. These engines, coupled with superior handling dynamics and enhanced NVH (Noise, Vibration, and Harshness) levels, make every drive smooth, responsive, and exhilarating. The sporty three-spoke squaricle steering wheel adds a touch of dynamism, ensuring an engaging driving experience that matches the SUV’s bold character.
Visually, the MG HS is a masterpiece of modern design. Its striking ‘Hunting Eye’ LED headlights and ‘The Shard’ full-length LED taillights lend it a confident and sophisticated look. Inside, the cabin combines high quality materials with cutting-edge technology. Dual 12.3-inch HD screens provide a fully immersive digital cockpit experience, while the premium BOSE audio system with eight speakers delivers crystal-clear sound. Convenience features such as dual-zone air conditioning, rain-sensing wipers, a wireless phone charger, and seamless Apple CarPlay and Android Auto integration further benefit the driving experience.
Practicality meets elegance in the MG HS, with a power tailgate and a versatile cargo capacity of up to 1,397 liters, making it perfect for family adventures and weekend getaways. The electronic panoramic roof invites natural light into the cabin, creating a spacious and airy feel, while memory functions for the driver’s seat and mirrors add a personalized touch. By delivering a winning combination of utility, performance, and affordability, the MG HS offers unparalleled value for young professionals and families.
Tom Lee, Managing Director of MG Motor Middle East, remarked: “The new MG HS represents the next step in our journey to redefine the mid-size SUV experience. Designed with the needs of young, ambitious drivers in mind, it combines passion, power, and practicality. If buyers are looking for a reliable SUV which is both sporty and stylish, the MG HS delivers on all fronts, making it a game-changer in the segment.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Alexandre de Betak and his wife are focusing on their most personal project yet.
Al Habtoor Palace, Budapest, offers a unique stay as a beacon of luxury and sophistication.
< 1 min
Al Habtoor Group announced the official launch of Al Habtoor Palace, Budapest, located within the historic Adria Palace in the heart of the Hungarian capital. This iconic building, originally constructed in the early 20th century, has been a landmark of architectural elegance and cultural significance. It has been reimagined into Al Habtoor Palace to deliver an elevated luxury hospitality experience that combines timeless grandeur, sophistication with modern luxury.
Positioned as “A Jewel of Dubai Hospitality,” Al Habtoor Palace marks a significant milestone in the Group’s vision to bring Dubai’s renowned luxury and excellence to Europe. Guests can now enjoy a unique blend of refined amenities, bespoke care, and world-class standards that have earned Al Habtoor Hospitality a distinguished reputation in the United Arab Emirates and globally.
Inspired by the success of Al Habtoor Palace Dubai in Al Habtoor City, a symbol of sophistication and grandeur, the Budapest property offers the same unmatched levels of personalized service and luxury, while embracing the rich heritage of Adria Palace, a cornerstone of Budapest’s cultural legacy.
Commenting on this announcement, Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, said: “The introduction of Al Habtoor Palace in Budapest reflects our vision to expand our homegrown luxury brand to Europe. Nestled within the historic Adria Palace, Al Habtoor Palace represents the pinnacle of hospitality while offering an unforgettable experience in one of Europe’s most vibrant cities. This marks the global debut of our ultra-luxury Al Habtoor Palace brand from Hungary, the jewel of Central Europe, and a significant milestone for our Group.”
Now welcoming guests, Al Habtoor Palace, Budapest, offers a unique stay as a beacon of luxury and sophistication, seamlessly blending the historical charm of Adria Palace with the renowned warmth and excellence of Dubai’s hospitality.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sydney’s prestige market is looking up, here’s three of the best on the market right now.
This move is part of Ericsson’s strategic ambition to simplify its organizational setup, enhance customer responsiveness, and strengthen local market accountability.
< 1 min
Ericsson has announced a new organizational structure for its operations in the Middle East and Africa (MMEA) region, effective January 1, 2025. As part of this transformation, the Saudi Arabia market will be served under a newly established Customer Unit (CU), led by Håkan Cervell, Vice President and Head of CU Saudi Arabia.
This move is part of Ericsson’s strategic ambition to simplify its organizational setup, enhance customer responsiveness, and strengthen local market accountability. The newly created CU Saudi Arabia, which will serve all customers in the country, is one of five Customer Units established under the new structure. The broader reorganization aims to optimize resources, accelerate time-to-market, and empower decision-making at the country level.
With over 30 years of experience in the Information Communication Technology (ICT) industry, Håkan Cervell brings proven leadership, business development expertise, and a deep understanding of the region. Since 2022, Håkan has served as the Head of Customer Unit stc, Saudi Arabia and Egypt, where he played a pivotal role in fostering strong partnerships and advancing digital transformation initiatives.
The establishment of CU Saudi Arabia is part of Ericsson’s larger regional transformation, which includes five Customer Units: CU Saudi Arabia, CU Gulf, CU West & Southern Africa, CU Central & Eastern Africa, and CU MEA North. Each unit is designed to address local market needs with increased accountability and customer focus.
Ericsson remains committed to accelerating digital transformation and supporting Saudi Arabia’s journey toward becoming a global leader in connectivity and innovation.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Saudia also ranked second globally in arrival on-time performance, achieving a rate of 86.35%. Over the past 12 months, the airline successfully operated 192,560 flights across its network
2 min
Saudia, the national carrier of Saudi Arabia, announced a significant milestone, ranking first globally in departure on-time performance (OTP) with a punctuality rate of 88.82%, according to a report by the independent aviation tracking site Cirium. Saudia achieved this distinction with a narrow margin of just 0.35% from the first place in arrival OTP. Complementing this achievement, Saudia also ranked second globally in arrival on-time performance, achieving a rate of 86.35%. Over the past 12 months, the airline successfully operated 192,560 flights across its network of over 100 destinations spanning four continents.
His Excellency Engr. Ibrahim Al-Omar, Director General of Saudia Group, commented: “We are proud to sustain excellence in global operational performance, which aligns with the objectives of the National Transport and Logistics Strategy and the National Aviation Sector Strategy. This achievement reflects the collective efforts of Saudia Group employees across all business units and highlights the integrated role played by various sectors in ensuring operational efficiency. These efforts are directly tied to enhancing and improving the guest experience.”
He added: “Throughout the year, our operational plans, especially during peak seasons, demonstrated our ability to overcome challenges while optimally utilizing resources, including our modern and expanding fleet and predictive digital systems powered by artificial intelligence, all of which contribute to on-time flight performance.”
In 2024, Saudia ranked first in On-Time Performance three times during the months of June, July, and November. The airline remains committed to upholding the highest standards of global quality and aviation safety while offering unique services, products, and initiatives aimed at enhancing the travel experience across all service touchpoints. Saudia continues to leverage the latest technologies and solutions in the aviation industry.
Currently, Saudia operates over 530 daily flights, connecting more than 100 destinations across four continents to the Kingdom with a modern fleet of 144 aircraft. This operation contributes to achieving the goals of Saudi Vision 2030, particularly in the sectors of tourism, entertainment, sports, and pilgrimage.
As part of its ambitious growth strategy, Saudia plans to expand its fleet with 130 new aircraft in the coming years, increasing both flight frequency and seat capacity to existing destinations while introducing new destinations to its network.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Self-tracking has moved beyond professional athletes and data geeks.
