UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
MENA region rides the wave of digital transformation
With an estimated IT spending of $175.5 billion in 2023, the region is embracing digital solutions, leveraging advanced technologies, and...
Business
Analysis
UAE’s Covid-19 response gets global plaudits
Earlier this year, the UAE rose to the top of Bloomberg’s Covid Resilience Ranking, outperforming European countries in terms of...
- For one, smart-technology platforms were effectively used in the UAE to combat Covid-19
- The UAE also adopted the mandatory use of face masks in March 2020, well ahead of the WHO recommendation
Economy
Sustainable construction key to greener MENA
Industry specialists in the region believe that the sector is becoming more sustainable despite many conflicting goals and complex challenges....
- With COP27 being held in Egypt in November 2022 and COP28 in the UAE in 2023, the MENA region is firmly putting climate change in the spotlight
- A key focus in the run-up to the two conferences is on accelerating policy, technology, and deployment of finance to set regional economies on a path to decarbonization
Analysis
‘UAE’s new labor law is a game-changer’
Legal and business leaders tell TRENDS that the new legislation is in line with the industrial modernization roadmap that the...
- The changes in the new labor law are fairly substantial and necessitate amendments to existing employment contracts
- They also call for modifications to policies and procedures concerning future agreements with new employees
Business
UAE free zones set to gain from corporate tax relief
Around 40 free zones in the UAE are likely to attract more investors and FDI after they were declared exempt...
- The 9-percent corporate tax will be levied on companies with profits above AED375,000 (approximately $102,090)
- Announced on January 31 by the UAE’s Ministry of Finance, the tax regime will be implemented from June 1, 2023
Business
Startups in UAE capitalize on corporate reforms
New corporate laws and business-friendly policies give start-ups an upper hand in the UAE as they are predominantly created and...
- Corporate reforms will make more people try entrepreneurship in the UAE, say businesspersons
- The UAE recognizes that high levels of technical skills proficiency are essential to thrive in the digital economy
Business
Data cover: GCC sees rise in cyber insurance demand
Compared to Europe and US, cyber insurance is a profitable proposition for GCC firms due to amenable market factors such...
- For the Gulf region, cyber insurance is still a viable and profitable proposition when compared to Europe, Asian and US markets
- There has been an increase in demand from the SME and mid-market client pool as well as financial institutions in the region
Analysis
Low-code, no-code tools decode GCC’s digital gains
The growth of low-code tools, heightened by digital transformation, is expected to bring about general employee upskilling across several industries...
- Businesses adopt many tools when they are going through a digital transformation
- They are often categorized as low-code or no-code, depending on how much programming they need
Investigation
Marka: From a star UAE retailer to a bankrupt firm
Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding...
- The recent Dubai court decision highlights that the funds of shareholders and creditors should be judiciously used. Else, the law of the land will catch you
- In October 2021, the UAE retail and leisure company Marka was declared bankrupt by a local court, and all of its assets were brought into liquidation
Analysis
GCC at risk from cyber criminals in 2022
Companies are hemorrhaging millions of dollars to ongoing ransomware raids, with threat actors further weaponizing the attacks.
- Ransomware attacks on high-profile organizations grabbed headlines throughout 2021
- Cybersecurity experts believe this criminal enterprise will reach new heights in 2022
Interview
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....
- Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
- Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
Company News
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UAE free zone residence visas now valid for two years
The visas currently under process, even those in the last stages of completion, will also be valid for two years...
Economy
‘Mobile-first mindset’ rules companies in Middle East
With an average of 40 percent of sales taking place via mobile, a growing number of enterprise-sized brands see mobile...
Business
Cyberthreats put critical infra at risk in Middle East
Top cyber security experts speak to TRENDS about primary threats to critical infrastructure providers and how to build effective defenses.
Investigation
Most Read
Business
Digital payments scan success in UAE, but scams too
The rise of digital payments also increases the chances of payment frauds in the region, Damon Madden, Head of Business...
- The rise of digital payments also increases the chances of payment frauds in the region, Damon Madden, Head of Business Development - Fraud at ACI Worldwide, tells TRENDS
- As more banks and financial services companies adopt financial technology, newer and innovative ways of digital payments are emerging in the UAE, experts point out
Analysis
UAE’s Covid-19 response gets global plaudits
Earlier this year, the UAE rose to the top of Bloomberg’s Covid Resilience Ranking, outperforming European countries in terms of...
- For one, smart-technology platforms were effectively used in the UAE to combat Covid-19
- The UAE also adopted the mandatory use of face masks in March 2020, well ahead of the WHO recommendation
Economy
Sustainable construction key to greener MENA
Industry specialists in the region believe that the sector is becoming more sustainable despite many conflicting goals and complex challenges....
- With COP27 being held in Egypt in November 2022 and COP28 in the UAE in 2023, the MENA region is firmly putting climate change in the spotlight
- A key focus in the run-up to the two conferences is on accelerating policy, technology, and deployment of finance to set regional economies on a path to decarbonization