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
Saudi startups soar amid surge in venture investments
Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...
Economy
Business
More checks needed as crypto scams hit all-time high
Blockchain expert Kim Grauer offers insights into why people fall prey to scammers, how they can protect their crypto assets...
- In 2021, cryptocurrency-based crime reached an all-time high, with criminal addresses receiving $14 billion.
- By the end of 2021, criminals had accumulated $11 billion in crypto from known sources, compared to $3 billion in 2020.
Economy
Gulf countries warm up to waste-to-fuel plans
Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal...
- Solid waste management is one of the most critical challenges facing all GCC countries
- Construction waste accounts for 53% of the total solid waste generated in the Gulf countries
Expo 2020 DUBAI
Dubai turns Expo into 6-month diplomatic gala
Amid a global pandemic, Dubai strategically turned a business and culture event into a public diplomacy spectacle unmatched in history.
- Visiting global dignitaries helped the UAE emerge as a new world capital of political and cultural diplomacy over the Expo's six-month run
- The world fair has, in essence, put a spotlight on the UAE as a nation of tolerance that connects people and cultures
Economy
Dubai summit highlights future to governments
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of...
- The summit’s topics focused on policies that drive progress and government development, sustainability, and future technology
- The Investopia Summit was launched as part of the WGS 2022 to improve global economic and investment sectors
Business
Riyadh entrepreneurship meet sees big-buck deals
The Global Entrepreneurship Congress is expected to see 40 agreements being signed between government agencies and major corporations.
- Several government entities and large firms are expected to sign 40 agreements during the conference
- The Saudi Ministry of Investment has, during the event, granted four licenses to startups and a venture capital fund
Economy
Riyadh, Dubai lead IPO surge in GCC
For the second time since the global financial crisis, the Middle East has surpassed Europe in terms of IPOs as...
- The proceeds of IPOs from Riyadh to Abu Dhabi have totaled $4.8 billion since the beginning of 2022
- Saudi Arabia has the busiest stock market in the Middle East in terms of IPO activity
Economy
UAE expats seek extra citizenship cushion
More than ever before, wealthy expatriates in the UAE as well as the world are pursuing citizenship options elsewhere.
- Citizenship investments have become popular among foreign expatriates living in the UAE
- Having a Plan B is one of the benefits of getting a second citizenship, especially in uncertain times
Business
Saudi Arabia wants Trojena on global tourism map
Trojena is the new mountain tourism destination whose establishment was recently announced by Saudi Crown Prince Mohammed bin Salman.
- Trojena aspires to redefine visitors’ and residents’ perceptions of mountain tourism
- The project will be launched in 2026 and will be located in the heart of NEOM
Analysis
Why GCC should heed Fed rate changes
Four Gulf Arab central banks followed in the footsteps of the US Federal Reserve and raised interest rates by a...
- Any increase in US interest rates affects dollar-pegged countries, including the Gulf countries
- Four Gulf Arab central banks raised interest rates by a quarter percentage point, for the first time since 2018
Business
Friendly policies woo major crypto firms to Dubai
The emirate's Virtual Asset Regulatory Authority governs cryptocurrency trade through a comprehensive set of legislations and globally applicable policy frameworks.
- Dubai's VA Exchange License allows FTX to be the first to provide regulated trading and clearing services for crypto-specific derivatives.
- The UAE is the third-largest crypto market in the region, trailing Turkey and Lebanon.
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
Company News
Latest News
GCC real estate transactions surge on demand increase
GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the...
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...
Business
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...
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Business
Smart factories transform manufacturing across GCC
Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart...
- Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.
- Bahrain's commitment to transform 300 factories by 2026 solidifies the region's dedication to technological advancements in manufacturing.
Analysis
Gulf banking sector flourishes amidst rising rates
GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks...
- GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks hitting a record $1.9 trn
- Customer deposits in the GCC rose 1% quarter-on-quarter to $2.3 trillion, with a loan-to-deposit ratio of 79.0%, and net income surging 3.5% to 13.7 billion in Q2-2023
Market Report
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...
- GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived
- Energy, materials, and capital goods sectors faced y-o-y profit fell in Q2-2023 as Saudi Aramco's profits fell by 37.3%, while Dubai-listed companies saw a 28.6% profit rise