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
Analysis
Wynn Resorts-RAK deal raises a few eyebrows
Legal experts weigh in on what lies ahead for the UAE when it comes to gaming entertainment in various forms.
- The announcement comes after rumors circulated about legalizing gambling clubs and permitting casinos in the UAE
- Gambling is prohibited in Chapter VI of the UAE Federal Penal Code, with those found guilty facing imprisonment and hefty fines
Economy
On credit rating meter, GCC economies score big
The GCC countries are among the most notable ones that credit rating agencies frequently recognize since they are the center...
- The GCC countries are among the most notable ones that credit rating agencies frequently recognize since they are the center of investors' attention
- Fitch evaluates Saudi Arabia at level (A), with a negative outlook to stable, while Moody's classifies UAE's credit rating by (AA2), with a stable outlook
Economy
Policy reforms help Saudi FDI inflow rise 326%
The Kingdom seeks to increase its net FDI inflow by 1,816 percent between 2021 and 2030, raising it to $103.5...
- The Kingdom is likely to witness an increase in net FDI by 1,816 percent between 2021 and 2030
- The country’s wholesale and retail sectors issued more than 44 percent of new FDI licenses in Q4, 2021
Analysis
Oil prices help GCC economies script revival story
GCC countries appear to be reaping the benefits of their efforts this year, with all indications pointing to the economies...
- According to the IMF, the region’s oil GDP will rise 5.3 percent in 2022
- Saudi Arabia’s non-oil GDP is expected to grow by 4.9 percent in 2022
Business
Saudi Arabia sees $6.4bn tech investment at LEAP
The fresh investments are said to be in line with Vision 2030, which aims to diversify the economy of Saudi...
- Investment deals totaling more than $6.4 billion were announced at LEAP 2022 in Riyadh
- Saudi Aramco Ventures launched a $1-billion investment fund called Prosperity 7 to help revolutionary startups
Business
Fun sector: Leisure puts UAE economy at ease
Estimations by the Middle East and North Africa Attraction and Leisure Council (MENALAC) put the number of leisure centers in...
- The leisure and entertainment sector in the UAE is considered to be one of the most dynamic markets in MENA
- Around 400 leisure centers operate in the UAE, employing more than15,000 workers
Business
New initiatives help Saudi Arabia shine on tourism map
Notable achievements of the kingdom include establishment of Global Center for Tourism Sustainability and its selection to host World Travel...
- Local overnight trips surpassed 60 million in 2021, adding an estimated spending worth $21.3 billion to the country's economy
- Promotion of tourism spots locally and globally, after being hampered by the pandemic, may help Saudi Arabia woo 50 million tourists this year
Business
Trade, investments bring Saudi Arabia, Iraq closer
Saudi Arabia and Iraq are looking to build a wide-ranging economic partnership as they sign electrical interconnection deal on the...
- The Saudi-Iraqi Joint Forum seeks to begin a new chapter in the history of comprehensive cooperation between the two countries at all levels
- The volume of trade exchange between the two countries during 2016-2021 stood at SAR 20 billion
Business
New business deals bring KSA, South Korea closer
The two countries are working on a broader strategy to strengthen collaboration in health care, science, technology, hydrogen, public health,...
- The visit was part of a broader strategy to strengthen bilateral collaboration in health care, science, technology, hydrogen, public health, and artificial intelligence
- The two countries signed 15 agreements totaling $8.2bn in 2019
Economy
Fixes and flaws of new UAE labor laws
The United Arab Emirates has set itself on a new course to completely overhaul the labor laws in order to...
- The Covid-19 pandemic has led to rapid changes in working patterns
- The UAE's new labor law may provide it a competitive advantage by giving expat workers better rights
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 asset management market $500bn by 2026
Strong capital inflows, a young and growing population and growing awareness about asset management will drive the sector's growth in...
Business
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...
Economy
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...
Arts & Culture
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Business
Saudi smart homes market builds on digitization drive
Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom...
- The Kingdom's smart homes market is being driven by growing affluence of Saudi population, govt emphasis on digitization, and rising popularity of smart home devices.
- With the support of govt initiatives and technological advancements, the sector is poised to play an important role in shaping the country's future urban landscape
Economy
GCC steps up to diversify Europe’s natural gas supply
Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia...
- Amid the Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options
- These countries have signed several long-term agreements to supply Europe with liquefied natural gas, helping to diversify Europe's energy sources and enhance energy security
Business
Business travel in MEA likely to bounce back by 2024
Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital...
- Business travel spending hit $23bn in 2022, nearing pre-Covid levels as post-pandemic business trips get longer, supported by UAE's digital nomad and freelancer programs
- The UAE's technological advancements and evolving legal framework make it more appealing and open to business travelers, says Ali Haider, Regional Director of Nomadic