‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
Foreign investors retreat from GCC markets in Q4
Regional market trends, IPOs, geopolitical issues and crude oil prices affected the flow of foreign money in the region, said...
Business
Economy
HNWIs’ wealth in Middle East grows despite slowdown
Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
- Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors
- Globally, HNWI wealth and population declined, with North America experiencing the sharpest decline. HNWIs have shifted focus to value and prioritized wealth preservation
Business
UAE, Saudi firms eye global acquisitions worth $20bn
Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify...
- Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices
- "M&A surge in the Middle East fueled by private equity and sovereign wealth funds, and backed by liquidity and reforms, is giving wings to region's transformative aspirations
Business
Tech-driven sustainability focus of banks
Financial institutions in the Gulf region are also focusing on sustainable practices like renewable energy investments, reducing their carbon footprint,...
- Through digitalization, collaboration with fintech companies, and responsible banking practices, banks are leading the charge in sustainable development in the region, say experts
- Gulf banks are also focusing on sustainable practices like renewable energy investments, reducing their carbon footprint, and supporting sustainable businesses, they add
Geostrategy
Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?
The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to...
- The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place
- Despite government-level reconciliation, Saudi-Iran ties face early-stage challenges, including Iranian aggression, and businesses in both countries risk political uncertainties
Geostrategy
Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?
The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region...
- The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place
- Despite government-level reconciliation, Saudi-Iran ties face early-stage challenges, including Iranian aggression, and businesses in both countries risk political uncertainties
Business
Expo 2030: All eyes on Riyadh as it makes a big pitch
With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member...
- With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member states
- Aiming to surpass Expo 2020 Dubai's visitor count, the Kingdom anticipates more than 40 million on-site and a billion virtual Metaverse visits during the event
Business
Saudi healthcare needs 175,000 professionals by 2030
The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and the implementation of...
- The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and implementation of AI at service provider levels
- The Saudi government is also investing in training and recruiting healthcare professionals, encouraging Saudi students to pursue medical and healthcare-related education
Business
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
Economy
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
Interview
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
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
Company News
Latest News
Q3 corporate earnings show mixed results in GCC
Market Report
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...
Economy
Dubai leads way as GCC markets show mixed results
Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains...
Business
Saudi football dominates Gulf sports scene this year
The Kingdom's football undergoes a historic transformation in 2023 with major investments and player signings, and Saudi Arabia wins the...
Arts & Culture
Most Read
Geostrategy
Saudi Arabia, UAE lead MENA’s smart city development
In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost...
- In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost & Sullivan projected $50bn investment by 2025.
- Saudi Arabia, leading with Riyadh, targets 17 cities for smart development, while the UAE's Masdar City, Oman's Sultan Haitham, and Qatar's Lusail City follow suit.
Economy
Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...
- The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
- A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.
COP28 UAE
COP28 initiatives to narrow climate finance disparity
Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
- At COP28, a significant focus was placed on climate finance, with the establishment of a Loss and Damage Fund to aid developing countries.
- Antoine Samaha of BCG underscores the urgency of securing more funds and ensuring its equitable distribution to combat climate change.