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
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
Business
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
Analysis
Challenger banks struggle for market share in GCC
Net sentiment for traditional banks is higher than those for challenger banks as the former have a long history in...
- Net sentiment for traditional banks is higher than those of challenger banks as the former have a long history in the market and have proved to be trustworthy and reliable.
- Today consumers expect speed, efficiency and reliability from banks. The digital revolution also creates an opportunity to increase financial inclusion in the Gulf region
Business
Retaining customers rattles retailers as sales drop
From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work...
- From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work harder
- During the pandemic, nearly 40 percent switched brands or retailers, and more than 80 percent developed new shopping habits, says a recent McKinsey study
Business
COVID-19 helps GCC grow its appetite for digital banking
Banks in the Gulf region were already on the path towards digitization, but the pandemic became the catalyst for accelerated...
- More than 80% consumers now prefer to do their banking online rather than visit a physical branch, while around a third feel their bank provides weak online banking services
- As the pandemic recedes, banks may continue with enhanced customer engagement online, which will pave way for physical branches to deliver more complex and high-value activities
Business
GCC ripe for digital banking growth
A high penetration of digital technologies and a tech-savvy younger consumer base among the factors that make the region a...
- Internet usage in the GCC is relatively high, with 82 percent penetration in Qatar, 78 percent in the UAE, 62 percent in Oman, 55 percent in Bahrain and 41 percent in Saudi.
- The market size of the e-commerce industry in the region was expected to grow from $24 billion in 2020 to $50 billion by 2025.
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
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Energy, commodity prices hurt profits of GCC firms
Market Report
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
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...
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,...
Economy
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Business
UAE emerges as crypto powerhouse amid global shifts
Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized...
- Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized ones, says a report
- Between July 2022 and June 2023, the MENA region registered $389.8 billion in on-chain value, with Saudi Arabia experiencing a 12% annual crypto transaction growth
Business
Rise in EVs drives Middle East toward greener future
A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
- A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
- With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric
Business
Rise in EVs drives Middle East toward greener future
A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
- A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
- With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric