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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Gulf nations transition from oil to solar powerhouses

The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...

Stable credit conditions make GCC firms resilient

Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...

Gulf telecom shows robust growth, eyes new avenues

Driven by expats and national development programs, the UAE and Saudi Arabia are expected to experience growth in consumer and...
  • Driven by expats and national development programs, the UAE and Saudi Arabia are expected to experience growth in consumer and enterprise segments, say experts
  • Telecom operators in the region are diversifying into fintech, gaming, healthcare, cybersecurity, cloud, IoT, and emerging tech, driving digital transformations across sectors

Diversification, global investment key to UAE’s growth

The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage...
  • The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage global investments
  • As of June 2023, the UAE has entered into five such agreements, notably with Israel, India, Indonesia, Turkey, and Cambodia, with plans to sign three more in the first phase

Rate rise boosts Gulf banks amid crisis

Despite global economic challenges such as the crisis, inflation, and high interest rates, the GCC banking sector has shown impressive...
  • Despite crises in US and Europe, the GCC banking sector has shown significant growth, aided by rate hikes and digitalization, says Commercial Bank of Kuwait CEO Elham Mahfouz
  • Kuwait's banking industry recorded a 37% profit increase in 2022, and is making strides in adopting AI and supporting sustainability initiatives, she tells TRENDS in an interview

Gulf banks witness continued growth in lending activities

The first quarter of 2023 experienced a surge in credit demand, except for a slight dip in Qatar. The latest...
  • GCC banks witness a 3.2% increase in aggregate gross loans, reaching a record of $1.87 trillion, while NPL ratios improve, with the average ratio decreasing to 2.3%
  • Due to the expansion of the banking business and government support, the UAE has the highest NPL ratio, while Saudi Arabian banks exhibit the highest q-o-q growth

UAE implements corporate tax amidst mixed reactions

Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime...
  • Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime could pose for family-owned businesses
  • Experts see long-term gains including transparency, diversification, and investor appeal from the taxation, which aims to diversify UAE's revenue and strengthen its financial base

Luxury car market rides on sustainability

A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't...
  • A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't dented the appeal of luxury cars, says an expert
  • Audi is working on new technologies, including digitization of production processes, AI, and robotics, to optimize output, adds Peter White, Sales Director at Audi Middle East

UAE, Saudi Arabia front runners in GCC talent race

The UAE's strategic allure for global talent through enticing policies clashes with Saudi Arabia's ambitious Vision 2030, diversifying economy and...
  • The UAE's strategic allure for global talent through enticing policies clashes with Saudi Arabia's ambitious Vision 2030, diversifying economy and broadening talent avenues
  • Incorporating technology in every industry is crucial today. "Failure to do so could lead to a loss of competitive edge," says Chaitanya Peddi, Co-Founder of Darwinbox

More females steer toward luxury vehicles

Bentley's Regional Director for the UK, Middle East, Africa, and India also anticipates further growth luxury car market throughout 2023...
  • Demand for luxury cars is set to stay strong in the Middle East, including GCC, due to economic stability and business activity in the region, says Richard Leopold of Bentley
  • Bentley expects the GCC luxury car market to continue growing in 2023, adds Leopold, the brand's Regional Director of Bentley for the UK, the Middle East, Africa, and India

Data-driven insights become crucial for GCC govts, businesses for making informed decisions: Urbi CEO

Live and constantly updated data ensure precise navigation, right down to the building level, says the chief of leading provider...
  • Live and constantly updated data ensure precise navigation, right down to the building level, says the chief of leading provider of geospatial data and analytical tools in UAE.
  • Urbi has launched Urbi CityLens, an AI-powered solution designed to transform city management by providing key data for proactive decision-making and preventive actions

Changing customer demand, other challenges keep GCC marketing and event industries in evolution mode

Challenges faced by the two industries include shifting preferences, increased competition, budget limitations, talent shortages and post-COVID-19 changes, says a...
  • Challenges faced by the two industries include shifting preferences, increased competition, budget limitations, talent shortages and post-COVID-19 changes, says a UAE-based expert
  • Brands and clients are seeking innovative, engaging events that provide tangible value as the future of events is likely to involve a mix of in-person, hybrid and virtual formats

Gulf nations transition from oil to solar powerhouses

The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...

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Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...

Cloud security challenges haunt firms in UAE and KSA

Rapid cloud adoption in the two GCC countries is accompanied by increased security risks, leading to costly data breaches, reveals...

Localization in focus as KSA raises military spending

Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization...

Most Read

Is 2030 the finish line for the Gulf Railway Project?

The Gulf Railway aiming for completion by 2030, will link GCC nations with a comprehensive rail network, marking a new...
  • The Gulf Railway aiming for completion by 2030, is set to link GCC nations with a comprehensive rail network, marking a new era in regional transportation and economic integration.
  • Saudi Arabia's railway expansion, an integral part of the Gulf Railway Project, boosts GCC connectivity and trade, with parallel progress in the UAE, Qatar, Oman, and Kuwait.

Defying global trend, UAE leads Middle East IPO surge

The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from...
  • The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from Abu Dhabi’s healthcare sector.
  • Despite a 54 percent annual decrease, Middle East IPOs raise $8.4 billion in 2023, as the MSCI Gulf States Index climbs 8 percent, defying global economic downturns.

Fintech fuels growth in Islamic finance sector

Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
  • Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026
  • The UAE and Saudi Arabia are at the forefront of the Islamic fintech revolution, setting new digital standards and driving the sector's global expansion, says a latest report