GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...
Business
Shifting dietary trends boost MEA’s protein market
Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to...
Business
Economy
Qatar eyes 1.5 million Saudi tourists in 2023 after thaw in bilateral relations
Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar...
- Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar Tourism's data suggest
- A package launched at the beginning of this year aims to attract 6 million visitors annually and increase the tourism sector's contribution to the GDP to 12%
Economy
Gulf Common Market moves ahead with new tracks
New tracks have been launched in the Gulf common market to supplement the 10 current tracks. The bloc also seeks...
- New tracks have been launched in the Gulf Common Market to supplement the 10 current tracks. The bloc also seeks collaboration with the private players in the region
- The "third phase" of the statistical survey was also reviewed during the meeting to assess the implementation of the GCC Common Market plans on the ground
Interview
GCC will be least hit by recession: WEF’s MENA head
In 2023, some Middle Eastern economies appear to be more resilient than most developed markets, Maroun Kairouz, Director for MENA...
- In 2023, some Middle Eastern economies appear to be more resilient than the most developed markets, Maroun Kairouz, Director for MENA at the World Economic Forum, tells TRENDS
- During the global crisis of 2007 and 2008, all western leaders knocked on the doors of GCC sovereign wealth funds because those are the pools of long-term capital, he adds
Business
GCC gas stations expand as global oil demand surges
The annual expansion of more than 100 fuel stations in the Gulf countries add around US$500,000 per day to companies'...
- The annual expansion of more than 100 fuel stations in the Gulf countries add around US$500,000 per day to companies' revenues in each country in the region, say experts
- Major Gulf gas station firms-- including Saudi Aramco, the UAE's ADNOC, Qatar's Woqod, and Oman's Omco -- have announced new expansion plans for the coming years
Business
Giga projects attract more foreign banks to KSA
At least six banks, seeking to open branches in Saudi Arabia, have obtained licenses from the Saudi Central Bank to...
- At least six banks, seeking to open branches in Saudi Arabia, have obtained licenses from the Saudi Central Bank to conduct operations in the Kingdom in the coming months.
- New banks are expected to add value to the Saudi economy by strengthening the services sector, expanding financing options and boosting public confidence in financial system
Business
Aramco’s digitalization drive set to transform Saudi Arabia’s energy sector
The launch of Aramco Digital follows months after the energy company announced preliminary plans for a strategic collaboration with the...
- The company's journey toward comprehensive digitization began in 2017 when it announced the launch of the Digital Transformation Program
- The launch of Aramco Digital during the seventh edition of IKTVA marks a new and significant stage in digital transformation of Saudi Arabia's energy sector
Business
Saudi Arabia gleams in bleak GCC projects market
Driven by Saudi Arabia's construction sector, near-term forecast remains positive for the GCC with more than $110bn worth of projects...
- Driven by Saudi Arabia's construction sector, near-term forecast remains positive for the GCC with more than $110bn worth of projects in the tender stage.
- The UAE, Saudi Arabia, and Qatar accounted for a combined 93.6 percent of the total value of contracts awarded in the GCC last year
Interview
UAE leads as ease in doing business makes prospects bright for small startups, self-employed across GCC
The market for small startups and self-employed entrepreneurs will boom due to lower startup cost amidst policy reforms and more...
- The UAE leads the pack as startups across GCC expect growth to continue as new laws make it easier for them to do business in the region, Be Unique CEO Dariush Soudi tells TRENDS
- "There will be a huge increase in blockchain platforms," he says, adding that this increase will come with a greater need for cyber security, programming and data analysis
Economy
New lab set to make KSA a leader in renewable energy
The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's...
- The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy
- The laboratory is likely to save more than US$ 266.5 million in the field of testing energy devices by eliminating tests conducted outside Saudi Arabia
Economy
Entertainment may add 4.2% to Saudi GDP by 2030
As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000...
- As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000 job opportunities in the Kingdom
- Saudi Arabia also seeks to establish and develop recreational areas throughout the country, the most recent of which is the opening of the 'VIA Riyadh'
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
GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...
Business
Company News
Latest News
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
Rising temperatures worry MENA region
The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
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...
Economy
Most Read
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
Economy
GCC maintains stable inflation rates despite crises
Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the...
- Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.
- The latest Kamco report offers an insightful analysis of economic trends in key Gulf countries, shedding light on their unique inflationary challenges and strategies.
Business
Technological advances propel UAE’s payments industry
The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the...
- The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the evolving global payments landscape, says a report.
- Moreover, the Gulf country's economic expansion and changing consumer preferences towards digital payments are also leading to continuous growth of the payment industry.