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...
Business
Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...
Business
Interview
Focus on innovation and sustainability as RAKEZ helps businesses grow
The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services,...
- The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services, says Jallad
- RAKEZ offers regular B2B networking opportunities, hosts workshops and seminars, and provides aftercare support to ensure businesses thrive in the UAE and beyond, he adds
Economy
Saudi Arabia’s FDI bid: Economic zones, 100% foreign ownership, tax sops
The kingdom hopes that its regulatory incentives and strategic location would help it compete with the UAE, whose tax-free zones...
- The kingdom's availability of natural resources, organizational changes, and a young population add to its attraction for the investors
- The country has benefited from the rise in oil prices caused by the Ukrainian war and is expected to achieve the G20's highest growth rate
Economy
GCC-listed firms post record growth in 2022, fueled by a thriving energy sector
Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022, compared to US$...
- Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022, compared to US$ 199.0 billion in 2021
- The energy sector alone witnessed US$ 74.2 billion, or 37.3 percent growth, mainly on the back of a steep jump in profits led by Aramco
Business
GCC data center market to reach $5.5bn by 2028
Major cloud service providers such as Microsoft, Tencent Cloud, Oracle, Amazon Web Services, and Alibaba Cloud are establishing local cloud...
- Saudi government has implemented the Cloud First policy to encourage the adoption of cloud services
- Microsoft, Tencent Cloud, Oracle, Amazon Web Services, and Alibaba Cloud are establishing local cloud regions
Business
Why do firms falter in Middle East’s booming sectors?
In the last 10 years, a motley of supposedly best-run companies in the Middle East have collapsed, disappearing into obscurity....
- In order to stave off total ruin and collapse of a business, industry experts recommend for the board to take charge of strategy, in cahoots with the management.
- Many experts blame disagreements within a board, or a lack of team spirit as the reason for tipping a company toward a slow demise
Economy
Saudization, progress help KSA reduce unemployment
Since the launch of Vision 2030, the kingdom's unemployment rate has notably dropped due to economic development, job localization, and...
- Since the launch of Vision 2030, the kingdom's unemployment rate has notably dropped due to economic development, job localization, and greater women participation in labor market
- The Saudi Ministry of Human Resources, which conducted a labor market supply and demand study, aims to create a national unit to identify future specializations and required skills
Economy
TRENDS poll: GCC residents opt to be in Dubai for Eid vacation
Most of the participants, in the poll from as far away as Egypt and Lebanon, picked up Dubai to celebrate...
- Dubai has been attracting young travelers in droves, thanks to its infrastructure, cleanliness, beaches, and high levels of safety
- Qatar has seen an influx of tourists, with a record number already being registered in the first two months of the year
Economy
UAE, Saudi Arabia lead GCC in job outsourcing
The latest developments are generating substantial growth opportunities for both local and international service providers in the outsourcing market, a...
- The latest developments have generated substantial growth opportunities for both local and international service providers in the outsourcing market, a report points out
- The UAE's outsourcing market is expected to reach US$6.8 billion in 2023, while Saudi Arabia's outsourcing market is projected to reach US$5.7 billion in 2027, it adds
Economy
Economic crisis, Ukraine war impact Arab currencies
The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while...
- The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while another six experienced growth
- Economic challenges, the strengthening US dollar, and the ongoing Russian-Ukrainian war have all played a role in the recent currency fluctuations
Economy
TRENDS Poll: Inflation takes biggest bite from Gulf household incomes during Ramadan
The poll discovers people struggling across the Middle East to cope with high cost of living in the holy month...
- Egypt has seen inflation vault to 32 percent in February with the government taking steps to mitigate its effect on low-income groups
- Lebanon is facing a more severe cost-of-living crisis, with inflation reaching up to 123 percent in January
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...
Business
Company News
Latest News
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...
Geostrategy
Conflict hits regional gas supply and infrastructure
The Israel-Hamas conflict has halted gas production at the Tamar plant, significantly impacting the region's infrastructure and disrupting Israel's gas...
Business
AI transforms office roles and enhances productivity
Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
Business
Most Read
Economy
MENA’s $2trn construction boom boosts sustainability
With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in...
- With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in sustainable urban development.
- The region sees a unique chance to pioneer sustainable technologies, potentially reducing lifecycle emissions by 50-60%, highlights Strategy& Middle East and Dar.
Economy
Gaza conflict casts shadow on Israel’s gas industry
War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
- The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
- The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan
Economy
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
- The report projects a nearly $11 billion deficit on average over 2023-2026 which is 0.5 percent of average GCC GDP over this period
- Prudent fiscal policy and the relatively higher oil price environment have resulted in some governments repaying part of their debt stock