Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...
Business
Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...
Economy
Analysis
Eid holidays boost Gulf tourism as COVID curbs ease
From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...
- Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
- This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand
Analysis
Should you invest in Metaverse real estate?
The economic opportunities and jobs created by the Metaverse will revolutionize how we work, socialize, play, and earn, says Sebastien...
- Revenues from the Metaverse are estimated to grow to $800 billion in 2024
- Metaverse plot prices rose from $100 in January 2021 to $15,000 in December 2021
Interview
GCC FMCG market faces headwinds
Certain FMCG companies benefited from the pandemic since people spent more time at home baking and spending time together. As...
- Rising worldwide raw material and transportation costs have put pressure on FMCG profits
- The current global issues caused by rising oil prices is also impacting consumers and prices
Interview
Abu Dhabi to trade carbon credits like assets
Carbon credits can be traded on legal carbon markets, such as the Emissions Trading System of the European Union. They...
- Expected to launch in Q3 2022, ACX will be established as a recognized investment exchange regulated by ADGM
- The GCC's broader plan to achieve net-zero was one of the main factors in establishing a carbon market in Abu Dhabi
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
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...
Business
Company News
Latest News
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
AI and LLMs poised to transform global job landscape
About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World...
Economy
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...
Business
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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
Analysis
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...
- Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe
- Trade between Saudi Arabia and India, valued at US$52 billion, and India's rising economic prominence position makes New Delhi a key strategic partner for the Kingdom
Market Report
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...
- GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed policies, says a report
- Despite some sectors showing gains, the overall trend was downward, with Qatar leading the decline and Dubai emerging as the best performing market