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
More MENA businesses now swipe virtual credit cards
Local lenders are offering more services online to cater to a young, tech-savvy consumer base, speeding up the transition of...
- The region's digital payments business has been booming as local lenders move more services online to serve tech-savvy youthful consumers
- MENA's high concentration of fintech and digital payments technology has increased the use of virtual cards
Science
UAE blazes a trail with AI, leads Europe and MENA
The Gulf country leads EMEA in the leverage of data, data science, and AI for the purposes of decision making...
- The UAE has established itself as a world leader in AI, having been the first nation to appoint a minister of state for AI
- Data science and AI are advancing, yet managers and non-managers in the UAE have different perceptions about data utility and AI's role
Business
Air bridge set to help airlines fly Fifa fans to Qatar
Many GCC airlines have teamed up to create an air bridge to fly the fans to watch World Cup games...
- Various airlines from Qatar, Kuwait, Saudi Arabia, Oman, and Dubai announced the establishment of a daily air bridge between Doha and the GCC countries during the World Cup
- The World Cup will draw a massive crowd with the International Football Association stating that it had received more than 23.5 million requests to purchase tickets
Business
UAE, Saudi Arabia set new halal economy goals for GCC
Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country...
- The expansion of the global halal industry has resulted in a steady increase in its market size from $3.2 trillion in 2014 to $5.6 trillion in 2021
- Stringent regulatory norms, including mandatory halal labeling and certification rules for food and beverages, are propelling the market growth
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
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
Company News
Latest News
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...
Market Report
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...
Economy
Archaeology talks unravel past’s influence on future
Insights from the recently held archaeology summit highlight AlUla's prominence as an archaeological epicenter, helping to bridge historical gaps and...
Arts & Culture
Most Read
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...
- The recent "Cityscape Global" exhibition in Riyadh showcased the vast urban development initiatives, signaling a bright future for the Kingdom's urban and housing sectors
- The exhibition highlighted Saudi Arabia's $17 billion Diriyah Gate project and other urban developments, with investments totaling approximately $18.3 billion
Business
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...
- This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors place in its property market
- Dubai's elite neighborhoods see a 49% annual growth in prime values, with current cash purchase rates at historic highs, surpassing even pre-2008-09 levels
Arts & Culture
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...
- In a bid to diversify their economies, Middle Eastern nations are turning to the sports industry, marked by significant investments in global tournaments and infrastructure
- Danube Group Managing Director Adel Sajan highlights Dubai's innovative spirit and the role of entities like Danube Sports World in shaping the region's sports future