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TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

Most Gulf nations stare at slow population growth

During the pandemic, expat worker population also declined.
  • S&P said the overall GCC population is unlikely to return to 2019 levels of 57.6 million people until 2023.
  • Gulf states rely heavily on foreign workers and efforts to nationalize the workforce to fight rising unemployment among nationals have accelerated in recent years

Dubai population dropped by 8.4 percent in 2020, one of the steepest declines in the Gulf region, mainly due to the exodus of expatriate workers in the wake of the pandemic-induced economic distress. The drop in the Dubai compares with a four percent decline for the GCC countries, according to S&P estimates.

Gulf states rely heavily on foreign workers and efforts to nationalize the workforce to fight rising unemployment among nationals have accelerated in recent years. S&P said the overall GCC population is unlikely to return to 2019 levels of 57.6 million people until 2023. While the expat population declined during the pandemic, the population growth in the GCC countries has slowed down. TRENDS takes a look at population trends in these nations: