👋☀️Good morning, Smashi Business Readers!
Today's edition brings a fresh look at DAMAC’s ambitious leap into luxury travel with their new airline, a game-changing $100 billion AI project in Saudi Arabia in partnership with Google, and MBC GROUP’s standout financial results signaling regional media dominance.

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DAMAC Takes to the Skies with New Luxury Airline 🚀

📰 What is it about?

• Dubai's DAMAC Group is branching into luxury travel with plans for its own high-end airline, Damac Air. Aimed at exclusive destinations like Bali and Tahiti, Damac Air will offer premium holiday packages, combining flights with upscale lodging and unique experiences.

💡 Why it matters?

• This bold move elevates DAMAC from real estate giant to luxury travel pioneer, tapping into the global demand for curated travel experiences. It signals Dubai’s continued evolution as a hub for high-end, all-encompassing lifestyle experiences.

🔜 What’s next?

• While the details on fleet and flight schedules remain under wraps, anticipation builds for a launch likely to redefine premium leisure travel from the UAE.

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Saudi Arabia’s $100B AI Ambition with Google 🤖

📰 What is it about?

• Saudi Arabia has unveiled Project Transcendence, a $100 billion initiative with Google to develop state-of-the-art AI infrastructure. This collaboration aims to enhance Arabic-language AI models and support the Kingdom’s emerging tech startups.

💡 Why it matters?

• As part of Saudi Arabia’s Vision 2030, this initiative highlights the Kingdom’s ambitions to lead in AI and technology, potentially adding $71 billion to its GDP by 2030. It also reinforces Google’s growing role in regional innovation.

🔜 What’s next?

• Project Transcendence will focus on building data centers and AI resources, setting the stage for Saudi Arabia’s digital transformation.

💭Quote of the day
“I am not a product of my circumstances. I am a product of my decisions.” — Stephen R. Covey 💪🏼

MBC GROUP’s Revenue Surge Reflects Regional Media Dominance 💹

📰 What is it about?

• MBC GROUP has achieved a notable revenue milestone, hitting approximately SAR 3 billion in the first nine months of 2024, marking a 378% surge in net income. This growth reflects MBC's strategic focus on premium content and digital innovation across the MENA region.

💡 Why it matters?

• MBC’s strong financial performance underscores the rising demand for diverse content in MENA, solidifying its standing as a media powerhouse in the region.

🔜 What’s next?

• With ongoing investments in content and digital experiences, MBC is set to continue its upward momentum, further expanding viewership and market reach.

🔍In other news…

• Tiger Properties has completed Nobles Tower – a 46-storey luxury residential tower in Dubai’s Business Bay

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