Empowering Arab women Sheikha Bodour’s key focus
Sheikha Bodour Al Qasimi, from the American University of Sharjah, advocates for diversity, inclusion, and continuous learning in leadership roles...
Interview
Diversification helps GCC surge in global markets
Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global...
Economy
Arts & Culture
Revenue from Saudi cinema may exceed $1bn by 2030
The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue...
- The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue of US$232 million, a latest report points out
- Although the Saudi film industry is still in its infancy, the goal is to increase the number of local films shown in theaters to 70 per year by 2030
YEARBOOK 2023
Strong economies help GCC survive global chaos
Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region...
- Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights
- Successful hosting of international events in 2022 such as Expo Dubai in the UAE, the World Cup in Qatar, and COP27 in Egypt, also contributed to GCC's strong performance
YEARBOOK 2023
Saudi Arabia may surpass UAE in FDI inflow this year
Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar...
- Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar Musa, CEO of PRO Partner Group.
- The FDI into Saudi Arabia and the UAE, according to a report, hit record highs with $40 billion in 2022, showing a rise of 58 percent over the previous year.
Interview
There’s an urgent need for mutual respect, solidarity and understanding: UN official
Moratinos has also been designated by the United Nations Secretary-General as the UN Focal Point to monitor anti-Semitism and enhance...
- Moratinos has also been designated by the United Nations Secretary-General as the UN Focal Point to monitor anti-Semitism and enhance a system-wide response
- He is also a committee member for the Zayed Award for Human Fraternity 2023, named in honour of late Sheikh Zayed bin Sultan Al Nahyan
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
Empowering Arab women Sheikha Bodour’s key focus
Sheikha Bodour Al Qasimi, from the American University of Sharjah, advocates for diversity, inclusion, and continuous learning in leadership roles...
Interview
Company News
Latest News
Blockchain enhances efficiency, security in aviation
Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
Business
Sustainably yours: Redefining travel for green future
The future of travel is expected to see greater use of renewable energy in transportation and advancements in technology, driving...
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
Business
Most Read
Business
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...
- The Mohammed bin Rashid Al Maktoum Solar Park, the world's largest single-site solar park, demonstrates Dubai's commitment to solar energy.
- The emirate is home to the Dubai Solar Institute, a world-class research center focused on solar energy technologies.
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...
- While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future of banking in the region, says a report.
- In the UAE, neobanks struggle with funding over trust issues in the absence of deposit insurance, while the CBUAE supports their growth, ensuring traditional banking stability.
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,...
- AI has emerged as a transformative force in various sectors, revolutionizing how businesses operate, make decisions, and secure their assets
- The research has found that 94% of UAE respondents understand the potential cyber risks, and 89% feel their organization is cyber-ready