WEF’s inaugural session in Riyadh aligns with Saudi Arabia’s growing influence
Gabriel Chahine, Middle East Lead for AlixPartners, discusses the significance of the World Economic Forum in Riyadh, economic outlook, AI,...
Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
Economy
Business
Dubai leads as GCC real estate transactions soar in H1
Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai led the...
- Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai leads the market with a 57 percent increase, fueled by demand for luxury properties
- Residential prices in Dubai surge 11.7% in the Q2 of 2023, while Abu Dhabi's growth stays muted. Dubai's rents jump 32.6% y-o-y, while other markets see slight rise
Economy
Saudi Arabia turns to maritime to diversify revenues
Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
- Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion
- The complex aims to localize technologies and meet the needs for building offshore oil and gas rigs, offshore platforms, offshore support vessels, and crude tankers
Geostrategy
Eastward shift: GCC builds strategic ties with ASEAN
Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance...
- Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance ties by signing Treaty of Amity and Cooperation
- The UAE dominates Gulf investments in ASEAN with 74% share from 2016 to 2021 as recent free trade agreements with Indonesia and Singapore indicate expanding GCC-ASEAN ties
Business
Flying taxis: Saudi Arabia stares at sustainable skies
NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility.
- NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility
- 'Taxi ports', air traffic systems, private sector participation, and new regulations are crucial to futuristic transportation to ensure safety and efficiency in mobility
Business
$1.3trn mineral reserves shift Saudi focus to mining
The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the...
- The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the transition towards clean energy
- The Kingdom, despite facing challenges in logistics and water provision at mining sites, is harnessing technology and collaborations to improve production quality
Business
Arab SWFs accelerate dealmaking amid scarce funding
Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity...
- Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity firms, including KKR & Co., EQT AB, and Brookfield
- Middle Eastern investors, including the Abu Dhabi Investment Authority and Mubadala Investment Company, are planning to invest billions in high-profile acquisitions
Economy
Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations
Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
- The value of Gulf companies' acquisitions and investments in China this year increased by more than 1,000 percent yearly to $5.3 billion
- Abu Dhabi's sovereign wealth fund, the "Mubadala Investment Company," is expanding its operations in China to attract investments
Economy
Travel companies give wings to Saudi tourism aspirations
Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination...
- The Kingdom, aiming to draw 100 million yearly visitors by 2030, is planning to invest over US$1 trillion in tourism over the next decade
- Travel companies play a key role in promoting Saudi tourism, developing packages, and collaborating with public sector entities
Business
GCC project awards surge by 86% to $49.7bn in Q2
The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength...
- The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies
- Saudi Arabia leads as GCC's largest projects market, while the UAE experiences a 127 percent surge, reaching US$12.2bn in the second quarter of 2023
Economy
Trade hits new high as GCC-Japan ties get warmer
Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
- In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
- Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs
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WEF’s inaugural session in Riyadh aligns with Saudi Arabia’s growing influence
Gabriel Chahine, Middle East Lead for AlixPartners, discusses the significance of the World Economic Forum in Riyadh, economic outlook, AI,...
Company News
Saudi football dominates Gulf sports scene this year
Arts & Culture
Latest News
Epstein case: Social media frenzy over released papers
The release of Epstein-related court documents has ignited a social media frenzy, sparking intense scrutiny and various reactions about high-profile...
Arts & Culture
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...
Business
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...
Economy
Most Read
Economy
Arab region faces soaring youth unemployment crisis
The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...
- The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate the large number of candidates.
- Arab countries are required to transform their education systems to align with the evolving labor market and create job opportunities for youth in the region.
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
Economy
2024 set to see new era of digital transformation
The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...
- The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable technology, UAE-based tech expert Dua Al Toobi tells TRENDS.
- Innovations are set to reshape the Gulf's economic and social landscape in 2024, marking a pivotal shift towards a knowledge-based economy, adds Al Toobi.