Luxury goods boom in Gulf draws global investors
The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion...
Business
GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...
Business
Market Report
Healthcare, F&B and telecom companies spoil GCC stockmarkets’ three-month party
GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed...
- GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed policies, says a report
- Despite some sectors showing gains, the overall trend was downward, with Qatar leading the decline and Dubai emerging as the best performing market
Business
GCC real estate transactions surge on demand increase
GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the...
- GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the market, contributing 54 percent to the total value
- In the first half of 2023, Saudi Arabia experiences a 32% drop in real estate transactions, as Taiba Investments enjoys a 63.44 percent annual surge in profits
Business
Single window offers fresh air to Qatar enterprises
This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries...
- This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries or their websites
- Before the new system, licensing took 6-8 weeks. Now, the enhanced process bolsters global confidence in Qatar's business landscape, drawing international inquiries
Strengthening Middle East-China ties bolster trade
In recent years, the Middle East and China have fortified economic ties, with the former supplying half of latter's oil...
- In recent years, the Middle East and China have fortified economic ties, with the former supplying half of latter's oil and sealing a landmark 27-year LNG deal with Qatar
- After Chinese President Xi's 2022 Saudi visit, China-GCC FTA talks accelerated, financial ties deepened and the BRI synced with Middle East's digital and infra ambitions
Geostrategy
Expansion may offer limited economic boost to BRICS
The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them,...
- The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them, and foster increased bilateral collaboration
- After expansion, the bloc will represent 30% of global GDP, 45% of the population, control 80% of oil production, and account for 16% of global trade by next year
Business
Smart factories transform manufacturing across GCC
Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart...
- Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.
- Bahrain's commitment to transform 300 factories by 2026 solidifies the region's dedication to technological advancements in manufacturing.
Analysis
Gulf banking sector flourishes amidst rising rates
GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks...
- GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks hitting a record $1.9 trn
- Customer deposits in the GCC rose 1% quarter-on-quarter to $2.3 trillion, with a loan-to-deposit ratio of 79.0%, and net income surging 3.5% to 13.7 billion in Q2-2023
Market Report
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...
- GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived
- Energy, materials, and capital goods sectors faced y-o-y profit fell in Q2-2023 as Saudi Aramco's profits fell by 37.3%, while Dubai-listed companies saw a 28.6% profit rise
Business
Dubai’s realty builds on innovation and sustainability
Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales.
- Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales
- COVID-19 and innovations have transformed property management, with a surge in demand for larger apartments and villas, says Deyaar Development's VP
Business
GCC asset management market $500bn by 2026
Strong capital inflows, a young and growing population and growing awareness about asset management will drive the sector's growth in...
- The rise of a middle class is increasing the demand for investment products and services.
- Strategy& Middle East estimates that currently more than 70 percent of regional private wealth is in offshore accounts.
Luxury goods boom in Gulf draws global investors
The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion...
Business
Company News
Epstein case: Social media frenzy over released papers
Arts & Culture
Latest News
Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...
Business
Qatar to set up Centre for Fourth Industrial Revolution
Davos, Switzerland -- The war in Ukraine, tensions in the Middle East, monetary policy in 2024, jobs, equitable economic growth,...
Business
Saudi startups soar amid surge in venture investments
Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...
Economy
Most Read
Business
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...
- From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future for the the Kingdom's economy.
- The PIF's diverse industry launches and acquisitions, managing $701 billion in assets, have created over 644,000 jobs in pharmaceuticals, aviation, and tourism sectors.
Economy
Gulf countries eye global metal recycling hub status
Amidst an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to...
- Amid an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to double metal prices.
- Gulf countries are positioned to become global recycling hubs, offering a solution to the impending crisis and aiding the transition to clean energy.
Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
- Lower valuations of international telecom companies are enticing GCC companies to venture into newer markets with a lot of potential for growth
- Many experts feel expansion will provide diversification of the portfolio beyond the GCC to mitigate risks associated with economic fluctuations