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
Arts & Culture
Art Dubai 2022 embraces digital art, NFTs
Art Dubai 2022, the art fair's largest edition and one of the few major international art events to take place,...
- This year's event is unique as it will demonstrate that Dubai has become a big part of the discussion about modern art.
- Dubai is a global crypto hub with a diverse group of collectors and entrepreneurs.
Analysis
GCC turbulence mires Airbus rise
Airbus has been mired in controversy despite its best efforts to increase its customer base, across the world in general...
- Qatar Airways and Airbus have tussled for months over the deterioration of aircraft paint and lightning protection
- Kuwait plans to announce an agreement to restructure the national airline fleet of Airbus aircraft
Interview
UAE banks on Instant Payments to shake up sector
The UAE Instant Payments Platform (IPP) is set to go live in Q4 2022, with participation mandatory for all banks...
- The UAE IPP is set to go live in Q4 2022, with participation mandatory for all banks and financial institutions
- Being part of the IPP scheme will allow banks to leverage real-time payments to target new customer segments
Analysis
GCC eyes floating hotels, eateries to buoy tourism
Floating restaurants and hotels could be a significant supporting player as the GCC region aspires to increase its footprint as...
- The UAE is well known for its floating restaurants and five-star floating hotels
- Qatar aims to construct 16 floating hotels for 2022 FIFA World Cup visitors
Interview
AI/ML boosts efficiency of GCC frontline workers
The Gulf region leads in adoption of artificial intelligence or machine learning to boost productivity, says Rami Darwish, CEO of...
- The pandemic has highlighted the importance of making digital solutions available for field staff
- Frontline and back-office must be on the same platform to facilitate information flow
Business
Saudi Arabia turns to PIF to transform its economy
The Saudi decision to transfer 4% of Saudi Aramco shares worth $80 billion to the kingdom’s Public Investment Fund is...
- The transfer of Aramco's shares to PIF is part of the kingdom's long-term goal to promote the restructuring of the national economy, says Saudi Crown Prince
- The move is likely to enhance Aramco's position and help it garner good credit rating in the medium term
Interview
TikTok eyes a bigger slice of Arab social media
TikTok is among top ten most downloaded apps in the region, particularly in Saudi Arabia, UAE, and Qatar, says Hany...
- The cumulative follower total of the top 10 GCC TikTok personalities grew from 24.6 million at the beginning of 2020 to 54.6 million in February 2021
- Food, sports and comedy are among the most popular content pillar on TikTok
Business
Gourmet meals spawn $59bn Saudi food industry
More than 50,000 coffee shops and restaurants scattered all over the kingdom help Saudi economy relish growth on the back...
- Last November, the Saudi Central Bank said that consumers in the kingdom spent more than $320 million on F&B, followed by $320 million on cafes and restaurants
- According to the Saudi Ministry of Commerce statement, the ministry granted 7,322 business licenses in the restaurant and cafe activities alone last year
Business
Saudi Arabia scouts markets for non-oil exports
While initiatives like Made in Saudi Arabia are helping ramp up production, Saudi Exports is looking to rope in government...
- Saudi Arabia intends to increase the amount of non-oil exports from 16 percent to 50 percent of the total GDP
- The Made in Saudi Arabia program helps create a unified identity for exports and improve their reliability
Economy
KSA eyes big role in Fourth Industrial Revolution
Saudi Arabia plans an Industrial Fund to assist investors in the sector shifting to 4IR technologies with the help of...
- Saudi Arabia's advanced digital government, according to an official report, will help the country's in speeding up the implementation of 4IR strategy
- The 4IR strategy aims to support the localization of new and advanced industries in the kingdom and also boost competitiveness of the existing industries
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
Market Report
Company News
Latest News
Gulf banking sector flourishes amidst rising rates
GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks...
Analysis
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...
Market Report
Dubai’s realty builds on innovation and sustainability
Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales.
Business
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Economy
GCC shows economic resilience as inflation hits globe
GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth...
- GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth across the region
- Saudi Arabia's CPI is being driven by housing and food, the UAE experiences a sharp CPI drop due to transport costs, while Qatar sees its lowest inflation since July 2021
Arts & Culture
Cinematic revolution helps KSA realize cultural dreams
Saudi Arabia, shedding its conservative past, has ushered in a vibrant art and cinema era, with its box office revenue...
- Saudi Arabia, shedding its conservative past, has ushered in a vibrant art and cinema era, with its box office revenue soaring to $250 million in 2022
- "Movie Cinema" plans a $160m cinematic content investment over five years, symbolizing Saudi Arabia's evolving identity and cinematic aspirations
Economy
AI startups set to rake in $10bn investments by 2026
Half of new cloud deployments will be integrated cloud data ecosystems by 2024, while edge AI will see 55% of...
- Half of new cloud deployments will be integrated cloud data ecosystems by 2024, while edge AI will see 55% of all data analysis by deep neural networks by 2025, says a report
- By 2024, data-centric AI will prioritize synthetic data, comprising 60% of AI data, while ChatGPT's popularity prompts 45% of executives to boost AI investments, adds Gartner