Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...
Business
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
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
Business
Gulf airlines recoup losses, make profits after 2 years
The global aviation sector's losses, which rose to around S138 billion in 2020, dropped to nearly $42 billion in 2021....
- Qatar Airways, a major GCC airline, reported profits of $1.54 billion during the fiscal year ending March 2022, compared to $4 billion loss in the previous year
- The UAE airlines have recovered 92.9 percent of seat capacity compared to pre-pandemic levels, according to data released by OIG International
Business
Free of travel curbs, GCC residents fly away for a break
In spite of high inflation, residents of the GCC countries are seeking newer destinations in Europe and beyond to travel...
- The United Kingdom, the Maldives, and Europe are still the most popular destinations for the UAE and the GCC citizens
- Travel industry experts feel that the global inflationary pressures are yet to affect travel demand
Economy
Inflation poses new challenges to Middle East, GCC
The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing...
- The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing common people to look for alternatives away from the govt actions.
- The unprecedented inflationary hikes is the result of Russia's four-month-long conflict with Ukraine that has hit global supply chains and increased shipping expenses.
Interview
Luxury brands in GCC look to metaverse for expansion
Virtual fashion and technologies will enable us to reduce our carbon footprints and the strain on the planet. Fashion firms...
- Despite the benefits of the metaverse world to the fashion industry, the technology still is in its early stages
- Brands should be cautious of many scammers in this world as there are numerous grabbers and a lot of fraud going on
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Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...
Business
Company News
Latest News
Energy, commodity prices hurt profits of GCC firms
Market Report
Dubai’s sustainable vision beyond skyline
Dubai is prioritizing renewable energy, sustainable design, water conservation, and biodiversity protection. Its commitment to a sustainable future showcases its...
Economy
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
Most Read
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,...
- In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024.
- The World Bank added that Saudi Arabia's economy, the largest in the region, will contract by 0.9 percent in 2023 before rebounding to grow by 4.1 percent in 2024.
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