Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
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
Unicorns benefit as KSA, UAE diversify investments
The two Gulf countries expect new strategy to result in a rapid economic transformation and offer new revenue stream, allowing...
- The two Gulf countries expect new strategy to result in a rapid economic transformation and offer new revenue stream, allowing them to cut down reliance on crude oil income
- The first Arab company to be dubbed a "unicorn" in the Arab world was Emirati "Souq.com," which received $300 million in funding in February 2016
Economy
Dams fulfill GCC’s water needs, boost economies
More dams are being built in the region to shield the residents against floods, offer a lifeline during drought and...
- More dams are being built in the region to shield the residents against floods, offer a lifeline during drought and work towards food sufficiency by enhancing agriculture output
- Seen as a major step towards green transition, dams in the Gulf countries are also helping in conserving water resources, feed or recharge the aquifers and natural springs
Business
KSA, UAE play well as e-gaming trends across GCC
The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to...
- The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to California-based market research and consulting firm Niko Partners
- By 2025, the GCC will contribute roughly 1.5 percent of the income generated by the global gaming sector as the industry is anticipated to grow at a CAGR of 22.5 percent
YEARBOOK 2023
Saudi Arabia, UAE set to lead IPO activities in GCC
Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of...
- Around 27-39 companies in the Gulf region are expected to come out with IPOs in the first few months of this year with the Kingdom and UAE leading from the front, reports suggest.
- Saudi and the UAE have also taken substantial measures to facilitate IPO operations in their markets in terms of facilitating business and performing IPOs, they highlight
Economy
Saudi Arabia explores space to secure solar energy
The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important...
- The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important role in combating climate change
- The project's cost is likely to exceed tens of billions of dollars amid expectations that the space solar energy project will be completed by 2040, reports suggest
Interview
Solar power energizes GCC’s sustainability drive
Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European...
- Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.
- Solar power plants in the Gulf region can expect 1,750 to 1,930 hours of full-load operation per year, while European countries such as Germany register only 940 hours of load
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
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
Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
Company News
Latest News
Gaza conflict casts shadow on Israel’s gas industry
War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
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...
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...
Economy
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Analysis
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
- Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
- The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
Business
Sustainability in style: UAE’s couture goes green
The UAE is shifting from Western influences to eco-friendly practices in its apparel market. 2023 marks the nation's commitment to...
- In the UAE, environmentally friendly, competitively priced, stylish, and high-quality products are increasingly being offered by brands
- They use organic cotton and other environmentally friendly materials like bamboo, hemp, and recycled polyester
Business
Blockchain enhances efficiency, security in aviation
Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
- Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
- Blockchain technology is revolutionizing aviation with enhanced transparency, security, and operational efficiency, promising significant cost savings, says Aerobloc's founder.