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GCC countries mobilize to build resilient industrial supply chains: report
GCC countries are prioritizing actions like near-shoring, international partnerships, and technology adoption to ensure supply chain adaptability and responsiveness, says...Economy
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Oil prices surge, Asian markets fall following Iran explosions
Oil prices surged more than three percent in early Asian trade, and Asian stock markets slumped by over 3 percent...Economy
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Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...The housing program, which implements over 15 development initiatives and programs, successfully increased Saudi families' homeownership rate to more than 60% by 2023
It also accomplished over 165,000 housing units and plans to provide 365,000 housing units over the next few years, with 95,000 units going to the most vulnerable families by 2025
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Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...The growth will largely be due to space-based and -enabled technologies, such as communications positioning, navigation and timing.
Space technologies are delivering greater value to a more diverse set of stakeholders than ever before, including in industries as varied as food and beverage, among others.
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MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.MENA companies, particularly those in the IT, banking, finance, real estate, construction, energy, and hospitality sectors, actively embrace agile workforce models
Emerging trends like Environmental, Social, and Governance (ESG) initiatives, data analytics, and procurement are expected to fuel the demand for local and international talent
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Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.Oman and Kuwait are more cautious due to infrastructure limitations and traditional work cultures.
Saudi Arabia's Vision 2030, aimed at diversifying economy, emphasizes remote work for economic development.
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MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...The gender gap in the MENA startup ecosystem remains a pressing issue. Male-founded startups secured nearly 90 percent of the deals.
March 2024 wasn't just about investments. The month witnessed several noteworthy mergers and acquisitions (M&A) deals.
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Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign institutions and banks
Consideration will be given to the credit rating of each bank in this process
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Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...New investments surged by 63 percent, with 891 local and foreign investments secured.
The number of factories rose to 6,443, alongside 7,946 industrial, logistical, and investment facilities
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Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes,...Flowwow has observed a 65% rise in online purchases from local UAE brands in March 2024 compared to last year
The preference extends to cosmetics and fragrances, with a notable rise in demand for handmade varieties
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UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...The Foreign Direct Investment Confidence Index,, now in its 26th iteration, continues to be an authoritative forecast of global FDI trends
The UAE economy has witnessed extraordinary growth across key sectors that have thrived as a direct result of the nation’s diversification policies
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‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...The Red Sea Project, Diriyah Gate, Qiddiya Entertainment City, and NEOM have thrust the kingdom into the global limelight
NEOM has made waves for its revolutionary take on connectivity infrastructure, innovative city features, and sustainability