Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...
Business
Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...
Business
Business
Metaverse is in the making since 90s: Expert
As a multidimensional world extending the physical realities of our current 4D world, it is rather a product of the...
- Metaverse is the product of a several waves of digitization and internet development since the 90s.
- Metaverse will create new opportunities for new services and, in fact, new activities altogether.
Business
Crypto crash seen as interim pain for long-term gain
There will be some volatility in the sector for a long time to come because it is an early-stage market,...
- There will be volatility in the sector for a long time to come because it is an early-stage market, says Valerie Hawley, Affiliate Founding Partner at True Global Ventures 4 Plus
- The prices of nearly every crypto coin have fallen by more than 50 percent from their all-time highs, with no rapid rebound expected amid the ongoing market crash, he adds
Economy
GCC govts lend roof to residents via interest-free loans
The value of home loans granted by the GCC govts to their residents range between $150,000 and $330,000 and are...
- Many GCC countries provide interest-free home loans to their residents to strengthen their family conditions and provide adequate living space
- Loans granted by GCC govts to residents range between $150,000 and $330,000 and are repaid through simplified methods and in short payments.
Economy
Online platforms help GCC reduce local unemployment
Many Gulf countries have set up electronic platforms to localize government and private sector jobs to reduce the national unemployment...
- Many Gulf countries have set up electronic platforms to localize govt and private sector jobs to deal with national unemployment.
- These platforms provide residents with quick and accessible electronic services for applying for government and private sector jobs.
Science
Metaverse can contribute $4bn to UAE economy
The Dubai Metaverse Strategy anticipates that 42,000 jobs will be virtualized through the metaverse by 2030 while also improving resident...
- The Dubai Metaverse Strategy, which was recently announced, aims to raise the metaverse sector's contribution to the UAE's economy to $4b by 2030
- Dubai companies like Emirates, Damac and others are already betting big on this world, and many more are expected to join the pack
Business
6G, WiFi 6, edge computing key for metaverse
To expand and upgrade the metaverse, 6G, Wi-Fi 6, and edge computing capabilities will be critical. Just as the internet...
- Metaverse participation is growing in the Middle East and GCC countries, says Martin Tarr, Chief ICT Officer of du
- Demand for a blockchain-powered metaverse has increased and industries are already benefitting from the technology, he adds
Business
Global Village gives wings to entrepreneurs, innovators
Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts,...
- Global Village assists entrepreneurs in exploring new prospects and forming collaborations, says Naveen Jain, Director of Business Development at the park
- Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts, he adds
Economy
Gulf boosts oil production amid global fuel crisis
Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day...
- Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day
- Kuwait Oil Corporation is enlarging the capacity of Al-Zour refinery to 615,000 barrels a day, making it the world's largest facility to do so
Economy
Beside oil, pilgrims help KSA economy boost revenues
The Haj season enhances Saudi Arabia’s political and religious prestige while contributing to its annual revenue of around $8 billion...
- The Haj season enhances Saudi Arabia’s political and religious prestige while contributing to its annual revenue of around $8 billion and creating thousands of jobs
- By 2030, the kingdom aims to raise pilgrim capacity to 30 million, eyes more than $150 billion in revenue and creation of over 100,000 new jobs
Business
NFTs: Digital way to own art, music, videos
Everything is open-sourced, permission less and on-chain, Holaplex CEO Alex Kehaya tells TRENDS on the rising popularity of NFTs.
- Holaplex’s Social NFT Network is a new platform for NFT enthusiasts
- Kehaya believes that the NFT industry is seeing an adoption curve that is greater than that of the internet
Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...
Business
Company News
Energy, commodity prices hurt profits of GCC firms
Market Report
Latest News
Cinematic revolution helps KSA realize cultural dreams
Arts & Culture
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
World Bank expects Gulf economies to grow by 1 percent in 2023
Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023,...
Economy
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...
Business
Most Read
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
Market Report
Global economic concerns hit GCC equity performance
Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and...
- Gulf equity markets experienced a downturn for the second consecutive month in September 2023, reflecting global economic concerns
- While major indices like the MSCI World Index and the S&P 500 saw declines, only Dubai and Qatari markets managed to post gains
Market Report
Global economic concerns hit GCC equity performance
Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and...
- Gulf equity markets experienced a downturn for the second consecutive month in September 2023, reflecting global economic concerns
- While major indices like the MSCI World Index and the S&P 500 saw declines, only Dubai and Qatari markets managed to post gains