US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
Meet Middle East tourism’s power players
Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent....
Business
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
- In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
- In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Economy
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...
- In the MENA region, customers are enticed by augmented reality games with tangible rewards, as the digital economy rises and brands innovate to meet growing expectations
- In an intensifying market, customers' multi-channel interactions offer brands crucial CX strategy insights, reflecting the escalating expectations they have from merchants
Investigation
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...
- In the MENA region, customers are enticed by augmented reality games with tangible rewards, as the digital economy rises and brands innovate to meet growing expectations
- In an intensifying market, customers' multi-channel interactions offer brands crucial CX strategy insights, reflecting the escalating expectations they have from merchants
Business
Rising data breach hits Middle East’s financial sector
In 2023, data breach costs in the Middle East soared to $8 million, marking a 155.9% rise over a decade,...
- In 2023, data breach costs in the Middle East soared to $8 million, marking a 155.9% rise over a decade, with the financial sector bearing the brunt, a report points out
- AI and automation notably shorten data breach lifecycles and costs, while phishing emerges as the predominant cause of breaches in the region, the IBM study adds
Geostrategy
UAE and Saudi Arabia among six new BRICS members
Argentina, Egypt, Iran, and Ethiopia are the four other member countries joining BRICS, underscoring its commitment to a more inclusive...
- Argentina, Egypt, Iran, and Ethiopia are the four other member countries joining BRICS, underscoring its commitment to a more inclusive global stance, effective from January 2024
- The expansion -- aimed at enhancing collaboration in trade, technology, and sustainable development -- emphasizes cohesive efforts among emerging economies
Geostrategy
Saudi Arabia rejects HRW allegations of killing migrants at Yemeni border
Saudi Arabia has strongly rejected allegations made by Human Rights Watch that its border guards fired on Ethiopian migrants crossing...
- The Kingdom refutes a Human Rights Watch report alleging that its border guards fired on Ethiopians
- The report alleged an escalation of abuses along the route from the Horn of Africa to Saudi Arabia
Economy
Disparity remains as Saudis, Emiratis see wealth gains
The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region...
- The net worth per adult in Saudi Arabia surged by an impressive 8.6 percent in 2021, followed by a 6.6 percent increase in 2022, both measured in US dollars.
- The Gini coefficient for wealth inequality in 2022 was 86.7 in Saudi Arabia and 86.9 in the UAE, placing both nations among the highest in global wealth inequality rankings.
Business
KIB posts $19.5m net profit
The bank's total operating income reached approximately $115 million.
- The bank's total operating income reached approximately $115 million, a 14% increase compared to the first six months of 2022
- Its investment securities portfolio, focused on high-quality Sukuk, reached $1 billion, a 4% increase from the same period last year
Jordan, Iraq explore ways to enhance cooperation in drug addiction treatment
Amman -- Jordan's Minister of Health, Firas Hawari, met with the head and members of the Committee on Combating Drugs...
- Amman emphasizes the importance of international cooperation in combating drug addiction, especially among countries with shared borders
- Iraqi delegation also expresses a strong desire for close cooperation with Jordan, citing the social, economic, and psychological damage caused by drugs
Business
DP World boosts global supply chain resilience with major capacity expansion
DUBAI -- DP World expects to add approximately 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by...
- DP World plans to add approximately 3 million TEUs of new container handling capacity by the end of the year
- The firm currently manages about 9% of the world’s handling capacity, ranking among the top five global port operators
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
Company News
BGN to get $100m in financing
Business
Latest News
RAK cultivates communities with arts and culture
Arts & Culture
UCC Holding signs contracts for seven Kazakhstan projects
Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan. The first...
Business
GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...
Economy
Displacement, health crisis in Sudan is alarming, says WHO
GENEVA, SWITZERLAND – Acting WHO Representative in Sudan Peter Graaff has said that the humanitarian and health crisis in the...
Geostrategy
Most Read
Economy
Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...
- Qatar-Turkey JETCO aims to enhance private sector cooperation and advance intra-regional trade.
- Successful Qatar-Turkey Business Forum highlights partnership opportunities, says Qatar Chamber chief.
Geostrategy
WEF24: Gulf cities spearhead global investment surge
GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO &...
- GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO & Founder of Special Edition and Million.
- He attributes the Gulf's economic boom to transformative business and government practices, and inclusive policies that promote diversity and attract international talent.
Business
Tourism takes Saudi Arabia to a new global height
Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a...
- Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a future global travel leader.
- Leading the G20 in tourism sector growth, the Kingdom showcases its global tourism impact, with high-quality hospitality projects and local workforce investment.