UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
Market Report
Qatar to set up Centre for Fourth Industrial Revolution
Davos, Switzerland -- The war in Ukraine, tensions in the Middle East, monetary policy in 2024, jobs, equitable economic growth,...
Business
Interview
BNPL gains currency in the UAE
It also seems to be extremely helpful for customers who want to pay for a purchase in installments or make...
- BNPL payments in the UAE are expected to grow 89.4% on an annual basis to reach $1.82 billion in 2022
- BNPL is not just for Gen Y and millennials; it is expected to see adoption by elderly individuals as well
Analysis
Europe energy market: Will Qatar replace Russia?
The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military...
- Qatar gas exports account for about 106 billion cubic meters, with 80 percent going to Asia and 20 percent to Europe
- Qatar could cover around 13 percent of Russian gas imports to the European Union and the United Kingdom
Business
Increase in demand helps GCC real estate recover
From the UAE to Saudi Arabia, Qatar to Kuwait, the GCC countries have posted robust growth in the real estate...
- Dubai saw the most significant recovery in the UAE real estate market, with the total value of residential real estate transactions increasing to $35bn by 2021
- According to data compiled by the Saudi newspaper Al-Watan, the real estate sector had the most significant value of contracts in Q4 2021
Interview
Greece’s Ionian Islands eye UAE to woo tourists
Rodi Kratsa-Tsagaropoulou, Mayor of Greece's Ionian Islands, explains how an enhanced cultural and tourism ties with UAE will be mutually...
- The Ionian Islands and the United Arab Emirates are developing cultural and tourism ties
- The two have established direct flights from Abu Dhabi and Dubai on Etihad and Fly Dubai
Analysis
Policy eyed as Mideast bears brunt of climate change
Disasters caused by climate change since 2000 have killed approximately 2,600 people, affected seven million others, and caused $2 billion...
- Temperatures in the region have risen by 1.5°C over the last three decades, twice the global increase of 0.7°C
- According to the IMF, disasters caused by climate change have killed approximately 2,600 people since 2000
Retail sales rise on back of online platforms
Grocery and fashion are the most significant in-demand categories during the holy month. The two sectors are expected to see...
- Many retailers, especially supermarkets and online brands, have made the most noise during Ramadan
- Smaller businesses can use unique offer opportunities to entice new customers or reward current ones
Business
Brands track trends, behaviors of consumers in Gulf region
Brands have realised the importance of mobile advertising and smartphones and are utilizing them to capture the attention of target...
- Brands need to decide how much they should invest in which medium to make their voices heard by their potential customers
- 66 percent consumers generally do Ramadan shopping with their smartphones directly via mobile ads, researches suggest
Business
UAE restores Ramadan goodwill with tough fight against COVID-19
While iftar tents are reinstated this year for government and licensed entities, authorities have advised that the group iftars and...
- Dubai marks the Holy Month of Ramadan in style, with lighting designs displayed throughout the city
- One of the most prominent events in Dubai this year is the return of Ramadan tents
Business
Covid, digital transformation push GCC cloud growth
Businesses in the region are increasingly adopting cloud to protect their data, apps and infrastructure from fraudulent activities while supporting...
- Cloud computing can generate $202 billion from various sectors in Saudi Arabia by 2030
- Rapid cloud adoption can generate up to $600 bn in recurring value in the MENA region
Business
AI plays crucial role in GCC’s economic progress
Artificial Intelligence, wired into the economic plans of many GCC countries, is likely to contribute 12.4 percent to Saudi GDP...
- The Middle East is expected to accrue US$320 billion of the total global benefits of AI in 2030
- AI is expected to contribute over US$135.2 billion in 2030 to the Saudi economy
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
Market Report
Company News
Latest News
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...
Business
Deals with India add pace to Saudi diversification
Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and...
Analysis
Healthcare, F&B and telecom companies spoil GCC stockmarkets’ three-month party
GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed...
Market Report
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Business
Single window offers fresh air to Qatar enterprises
This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries...
- This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries or their websites
- Before the new system, licensing took 6-8 weeks. Now, the enhanced process bolsters global confidence in Qatar's business landscape, drawing international inquiries
Strengthening Middle East-China ties bolster trade
In recent years, the Middle East and China have fortified economic ties, with the former supplying half of latter's oil...
- In recent years, the Middle East and China have fortified economic ties, with the former supplying half of latter's oil and sealing a landmark 27-year LNG deal with Qatar
- After Chinese President Xi's 2022 Saudi visit, China-GCC FTA talks accelerated, financial ties deepened and the BRI synced with Middle East's digital and infra ambitions
Geostrategy
Expansion may offer limited economic boost to BRICS
The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them,...
- The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them, and foster increased bilateral collaboration
- After expansion, the bloc will represent 30% of global GDP, 45% of the population, control 80% of oil production, and account for 16% of global trade by next year