Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...
Business
Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...
Business
Business
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
Economy
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
Interview
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
Business
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
Interview
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
Interview
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
Business
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
Business
Recession fails to dent luxury car sector
Amid rapid tech growth and rising environmental concerns, understanding the current automotive industry trends, especially in luxury, is vital, says...
- Amid rapid tech growth and rising environmental concerns, understanding the current automotive industry trends, especially in luxury, is vital, says Dr Manfred Bräunl of Porsche
- Porsche Middle East & Africa region, which also includes India, delivered 8,217 cars representing an increase of over 20 per cent compared to 2021, adds Bräunl, the regional CEO
Interview
Luxury car market navigates challenges
In addition to battery electric vehicles, BMW is exploring hydrogen fuel cell technology to harness the potential of clean hydrogen...
- To transition towards sustainable mobility, the main challenge lies in developing the required infrastructure, Dr Hamid Haqparwar, MD of BMW Group Middle East, tells TRENDS
- BMW is exploring hydrogen fuel cell electric vehicles to complement battery electric vehicles and address the potential of clean hydrogen production in the region, he adds
Geostrategy
Gulf investments fuel Turkey’s economic growth
The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the...
- The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country
- Qatar has emerged as a significant investor in Turkey, with foreign direct investments reaching approximately $10.3bn by 2021 end
Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...
Business
Company News
Latest News
GCC equity markets record first gain in four months
The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...
Business
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...
Economy
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...
Business
Most Read
Business
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...
- Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.
- GCC-listed banks hit a new record with aggregate gross loans reaching US$1.95 trillion by Q3-2023, as strong manufacturing and project awards boost market scenario.
Market Report
Q3 corporate earnings show mixed results in GCC
While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience,...
- While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience, says a latest report.
- The latest comprehensive analysis by Kamco Invest delves into the intricacies of the GCC's corporate financial performance during a turbulent economic period.
Geostrategy
Global food-security crisis nudges GCC to look inward
Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region...
- The region is pouring investments into food manufacturing projects, such as dairy products, meat, poultry, fish, fruits, vegetables, and processed foods
- The GCC governments have devised measures to support local farmers, with much of the focus on local farms and investments in farms outside the Middle East