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
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...
Business
World Economic Forum
Dialogue best way to resolve differences with Iran: Prince Faisal
There is a need to find a route to ending the Russia-Ukraine conflict, otherwise global uncertainty would continue. "This is...
- Saudi Arabia has been trying to find a path to dialogue with Iran as the best way to resolve differences, says the Kingdom’s Foreign Minister
- Saudi Prince Faisal bin Farhan adds that his country is working to stabilize energy security in the region and across the globe
YEARBOOK 2023
Consumer spending in KSA, UAE set to stay strong
Both Gulf countries reported an increase in non-essential spending from 2021 to 2022, with the expectation that this trend will...
- Both Gulf countries reported an increase in non-essential spending from 2021 to 2022, with the expectation that this trend will continue into 2023, says an expert.
- Online purchasing remains a popular channel for both UAE and Saudi shoppers, owing to the ease of purchase, cost savings, variety, and ease of delivery, a research points out
Geostrategy
Financial innovation vital but checks needed for stability: Saudi minister
Mohammed Al-Jadaan also warned of risks if the central bank digital currency was introduced as it will require citizens to...
- Saudi Arabia is likely to be among the world's fastest-growing economies in 2023, he said, citing the IMF global economic growth expectations for 2023.
- He also emphasized the importance of financial institutions, such as banks, for countries in combating global shocks, while continuing to develop technology in this sector.
Economy
Duty-free markets at air, sea and land ports set to create jobs, help industries, benefit Saudi economy
The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic...
- The move aims at supporting Kingdom's infrastructure development, strengthening logistics, and providing unique business environment in the transport sector, air traffic and ports
- Free markets will increase Saudi exports, reinforcing itss efforts to diversify economy beyond oil, including tourism and travel, that will ultimately benefit the country's economy
Market Report
Gulf markets, except Kuwait and Qatar, end higher
The Saudi market's general index, TASI, rose 1.19%, Dubai Financial Market 0.47%, Abu Dhabi Stock Market Vadax 15 index 0.133%...
- Fifteen sectors rose on the Saudi Stock Exchange, led by banks at 2.37 percent, capital goods 1.64 percent, energy 0.93 percent.
- In the Dubai Stock Exchange, the industry sector increased by 1.2 percent, followed by the real estate sector by 0.9 percent, the consumer goods sector by 0.44 percent,
Business
Privacy remains key concern as facial recognition technology makes GCC travel sector secure, efficient
Face and iris recognition technology vary by country in the region, and expecting it to be implemented in many airports...
- Facial recognition techniques vary in each country, and expecting it to be implemented in many large airports around the world in a short time is unrealistic, says an expert
- People and organizations involved in the passenger moving process must strike a proper balance in terms of how they can begin implementing biometric technologies, he adds
Economy
Sustainable innovations to help Gulf industries reduce CO2 emissions, says report
Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the...
- Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report
- Banks can influence how companies and consumers act, invest, and address their environmental obligations through their product offerings, highlights the Bain & Company
Economy
Sponge cities an answer to Gulf water woes
China, Singapore and Hong Kong are planning to convert 80 percent of their cities into sponge areas by 2030 for...
- A sponge city is a nature-based solution that uses the landscape to retain water at its source, slow down water flow and clean it throughout the process
- According to specialized construction reports, China was one of the first countries to resort to this technology, followed by Singapore and Hong Kong
YEARBOOK 2023
GCC investment in non-oil sectors grew in 2022
GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their...
- GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies
- The Kingdom's NEOM introduced the energy and water company Inwa, while the Saudi Ports Authority launched 12 private sector investment opportunities last year
Business
Sustainability key for next-gen data center models
At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...
- At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
- Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.
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
Company News
Latest News
Global economic concerns hit GCC equity performance
Market Report
Dubai sets 75% renewable goal by 2050
The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar...
Business
Are neobanks challenging traditional players in UAE?
While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...
Business
81% UAE companies plan to use AI for cybersecurity
AI has emerged as a transformative force in various sectors, revolutionizing how businesses operate, make decisions, and secure their assets,...
Business
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Business
Conflict points to economic shift in Arab-Israel ties
Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key...
- Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key regional trade pacts.
- Israel's strategic gas deals and burgeoning trade with Arab nations, including a potential UAE free trade deal, will be affected if the Gaza conflict escalates further.
Market Report
Gulf markets tumble amid rising geopolitical concerns
As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...
- As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
- Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.
Business
Investors eye gold as safe haven amid Gaza tensions
The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial...
- The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial market reactions.
- The 'political reversal' scenario for the present Middle East developments involves potential involvement of Lebanon and Syria, while the 'oil crisis' scenario involves Iran.