WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...
Interview
Crypto market sees drop in scams, stolen funds
The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue,...
Business
Economy
Monkeypox: Gulf nations brace for the battle
The UAE's Ministry of Health and Prevention, for example, is cooperating with other health authorities to implement an epidemiological surveillance...
- The virus is an uncommon disease that primarily affects rural parts of central and western Africa
- The disease typically lasts two to four weeks, with symptoms appearing five to 21 days after infection
Business
Spiralling inflation spurs GCC gold demand
Gold consumption in the GCC region reached 47 tons in the first quarter of 2022, up 18 percent from the...
- Gold consumption in the GCC region reached 47 tons in Q1 2022, up 18 percent from the prior year
- UAE consumption reached 12.50 tons in Q1 2022, an increase of 50 percent from the previous year
Business
GCC businesses need to diversify board members
The percentage of women on boards in corporate houses across the GCC countries is low, Christiane Schloderer, INSEAD Alumni Association's...
- Boards that lack women representation suffer reputational and possibly regulatory issues, says Christiane Schloderer, INSEAD Alumni Association's senior member
- Remuneration and placement committees, headhunters, and chairperson play an important role in appointing women in the key positions, she says
Economy
GCC ready to deal with global inflation, sectoral shifts
However, Hamade believes that the markets in the Gulf region are better prepared to navigate the economic headwinds given the...
- Local production, technology, and the improving quality of goods and services alleviate the pressure of exports, says Amanat Holding's CEO Dr Mohamed Hamade
- Startups have been contributing to driving economic self-sufficiency aided by homegrown production and facilitation to reduce the burden of imports, he adds
Business
Employment reforms add to women prosperity in KSA
Saudi women have reached unprecedented heights in work and social life, Sarah Al-Tamimi, vice chair of National Committee to Combat...
- "Many sectors such as retail, construction, mining, work in tanneries, electricity production, car repair shops that had been closed to women are now hiring them."
- "Saudi Arabia has introduced legislation guaranteeing equal pay for men and women and initiatives to support working women."
Business
Workplace diversity is both cultural & business issue
One of the biggest challenges for women in the GCC is the lack of possibilities in the workplace, Novonda founder...
- Companies must make sure to have a diversity-friendly personnel policy and HR practices, says Novonda founder Jean-Pierre Calvez
- Digitalization and flexible working strategies have been crucial for the workforce, he adds
Economy
Emirate attracts expats and HNWIs alike
World-class infrastructure, successful pandemic response and visa and labor reforms have made the city an ideal destination for expats. Also,...
- The city has established itself as the region's business hub, which creates abundant job opportunities for expats as only one in 23 workers in Dubai is an Emirati national.
- Dubai had 7.28 million visitors last year despite the global pandemic, making it an ideal place to live, work, and visit.
Business
Dubai’s hi-tech vision dazzles investors
Dubai is developing an environment that encourages firms from all industries to innovate. Already, the UAE is home to one-third...
- Dubai is developing an environment that encourages firms from all industries to innovate
- Dubai has been able to leverage its strengths as a world-class city to attract global blockchain entrepreneurs
Business
Dubai: Monaco of the region with a difference
The final quarter of 2021 provided a major boost to Dubai hotel results, with properties surpassing even 2019 figures across...
- Overall, UAE hotels raised $408 million in revenue between December 15 and the end of January 2022, with Expo and the second World's Coolest Winter campaign as key catalysts.
- Dubai has beaten popular holiday destinations such as London, Bali, and Rome to become the most popular destination for 2022.
Business
Creative sector woos global investors to Gulf region
The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director...
- The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director of Abu Dhabi Creative Authority
- However, profound disruption of supply chains and the availability of critical materials in a timely manner remain a crucial challenge for the Gulf countries
WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...
Interview
Company News
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Urban developments transform Saudi realty
The exhibition saw the launch of massive real estate ventures, including integrated, modern cities, with a combined investment of around...
Cash transactions dominate Dubai’s property market
This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors...
Business
Sports shift economic goalposts for Middle East
In a bid to diversify their economies, Middle Eastern nations are turning to the sports industry, marked by significant investments...
Arts & Culture
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Business
Global ambitions fuel Qatar’s investment momentum
Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles...
- Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles and seize expansion prospects
- Qatar's sovereign fund's notable investments include stakes in Volkswagen, SoftBank, RWE, and Paris Saint-Germain as it focuses on venture capital, fintech and sports sectors
Economy
Project reuse helps UAE boost sustainability drive
Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact...
- Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact of new developments
- With projects like Expo City Dubai is leading the way, the nation's architectural landscape is evolving towards a greener future, says Devmark CEO Sean McCauley
Business
Gulf banks show resilient growth despite US Fed hikes
Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported...
- Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported record profits in the first half of 2023, says a report
- In H1 2023, Saudi Arabia exhibited outstanding credit facility performance as Al Rajhi Bank reported a net income of US$2.2m, while Riyad Bank achieved US$1bn after zakat