Dubai Chambers partners with DP World and Customs to boost logistics resilience
Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
Business
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
Business
Dubai Chamber of Commerce achieves 46.7% success rate in mediation cases
DUBAI -- The Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has revealed that it...
- The combined value of mediation cases received during H1 2023 reached US$11.5 million, with US$5.7 million resolved
- Mediation offers advantages such as flexibility, speed, efficiency, and confidentiality, saving time, effort, and money
Dubai Chambers partners with DP World and Customs to boost logistics resilience
Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
Business
Company News
Latest News
Forty-day ceasefire offered to Hamas: UK foreign secretary
US Secretary of State Antony Blinken renewed US opposition to an Israeli offensive on Gaza's southernmost city of Rafah. "We...
Geostrategy
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
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
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Economy
Dubai’s media revamp key to navigate new horizons
"There is a need to double efforts to develop a comprehensive blueprint outlining necessary policies to drive the media sector...
- Sheikh Ahmed bin Mohammed emphasizes the need for an immediate overhaul in Dubai's media sector.
- Proactive steps aim to align Dubai's media with international best practices and ethical standards, he adds.
Business
RSG, Hyundai Motor ink pact
The two firms will explore opportunities in various areas.
- The two parties will focus on validating and deploying Hyundai Motor Group's eco-friendly mobility solutions.
- They will explore future mobility solutions, such as autonomous vehicles, Advanced Air Mobility and maritime vessels.
Business
Feeding fit: Saudi Arabia redefines the poultry sector
In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new...
- In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new benchmarks in the global market.
- This underscores the Kingdom's strategic push towards agricultural innovation, economic diversification, and food security, aligning with the ambitious Vision 2030.