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
Kuwait leads GCC market gains amid regional tensions
Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...
Market Report
Business
GCC hospitality looks at more sustainable practices
'Eco-friendly travelers' are gradually putting pressure on hospitality businesses in the Gulf region to incorporate green concepts and sustainability practices...
- 'Eco-friendly travelers' are gradually putting pressure on hospitality businesses in the region to incorporate green concepts and sustainability practices into their services
- The industry impacts environment through its considerable energy and water consumption and the waste it generates, especially organic waste and single-use disposables
Business
Electronic payments scan more success than cash
Despite ease in the measures set to combat the COVID-19 pandemic, electronic payments in the Gulf countries surged more than...
- Despite ease in the measures set to combat the COVID-19 pandemic, electronic payments in the Gulf countries surged more than cash payments in several other Arab countries
- Gulf govts have consistently been working to popularize electronic payment in many sectors as part of their national plans to establish governance and optimize automation
Business
Facial recognition helps GCC banks verify, curb frauds
The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or...
- The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or replicate, and faces cannot be lost, says an expert
- Facial recognition also aids in post-fraud proceedings and fraud prevention, allowing the bank to divert resources into other areas adds Anton Nazarkin of VisionLabs
Analysis
Most Arab clubs play hard to score financial surplus
Only five football clubs in the region — Al-Fateh, Al-Hilal and Al-Faisali of Saudi Arabia, as well as Morocco's Al-Wydad...
- Only five football clubs in the region — Al-Fateh, Al-Hilal, and Al-Faisali of Saudi Arabia, as well as Morocco's Al-Wydad and Nahdet Berkane —have reported budgetary excess
- Almost all other remaining Arab clubs -- including Al-Nasr, Al-Ittihad and Al-Ahly -- have posted deficits, according to the latest report 'The Financial East of Arab Clubs'
Business
Unified financial network set to boost Gulf economies
GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother...
- GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother for citizens and residents
- The Central Bank of Saudi Arabia recently launched a point-of-sale service between its national payments network "Mada" and the Qatar national network "NAPS"
Business
Gulf countries get more adaptable to open banking
The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put...
- The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put in place as regulators set new market policies
- Tarabut Gateway -- the first and largest open banking platform in MENA and a licensed AIS and PIS provider -- obtained the first open banking license ever issued in the UAE
Business
Demand boost, price rise lift profits of Gulf oil firms
GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back...
- GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back of increase in oil prices, strengthening their credit ratings
- Saudi Arabia, the largest OPEC producer, is among the first to benefit from the surge in oil prices and an increased demand, with a $21 billion surplus in the first quarter
Analysis
Policies, infra make Dubai hub for talent, innovation
For decades, the emirate has been a global player with a plethora of capital, talent, corporate tax incentives and ground-breaking...
- For decades, the emirate has been a global player with a plethora of capital, talent, zero corporate tax and ground-breaking technologies, says the latest BCG report
- Dubai's unfettered access to global consumer markets makes business activities such as innovation, hospitality, logistics and tourism easier to perform than anywhere else
Business
Metaverse unrolls new prospects, risks for insurance
Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players...
- Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players to come up with a new set of liability policies
- Many metaverse projects feature content creation that may implicate IPR, thereby triggering the same coverages or, potentially, commercial general liability coverage
Business
Macroeconomic issues may hit logistics across GCC
The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the...
- The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the global supply chain, say experts
- Saudi Arabia and the UAE are both striving to reduce operational costs and facilitate faster deliveries by adopting smart port technologies and integrating port value chain
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
Company News
Latest News
Qatar eyes North Field to boost liquefied gas output
Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
Economy
Security risks hit gas flow amidst Israel-Hamas row
Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
Gulf Common Market aims for economic unity by 2025
The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
Geostrategy
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Geostrategy
Gulf Common Market aims for economic unity by 2025
The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
- The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between Gulf countries through joint economic action
- Additionally, the Gulf Common Market will also contribute to regional political stability, bolstering military cooperation and enhance tourism and investments in the region
Economy
Infra investments crucial to Dubai’s growth and global allure
Dubai's iconic skyline and architectural marvels have garnered global attention, offering stunning views for visitors and residents alike. This allure...
- The emirate's strategic investments in infrastructure, from the Dubai International Airport to iconic landmarks like the Burj Al Arab, have bolstered its global stature
- With a prime focus on sustainability and a vision for 2040, Dubai continues to charm and attract businesses, tourists, and investors from across the globe
Economy
Vision 2040: Saudi Arabia’s new economic blueprint
Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen,...
- Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen, clean energy, and technology advancements
- With a focus on diversifying the economy, enhancing global competitiveness, and fostering innovation, Saudi Arabia is poised to redefine its global economic standing