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
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
Analysis
Online learning booms in GCC during pandemic
"While online learning is a supplement to a broader educational experience, course enrollment statistics strongly imply that it is a...
- Online education is a valuable addition to a greater educational experience for many, especially busy professionals
- The number of educational providers will expand, as will student adoption of more flexible options
Business
Saudi, UAE and Egypt gaming to reach $3.14bn
A young population, increased user spending, robust govt backing for games and e-sports and new players are poised to push...
- Around half of the Middle East's population is reported to be under the age of 25, and electronic games constitute an integral component of their entertainment.
- Saudi Arabia, the UAE, and Egypt attained a total gaming revenue of US$1.76 billion in 2021.
Business
Saudi Arabia seeks to be regional mining force
Saudi authorities seek to promote mining investments and increase its contribution to the GDP to meet the Saudi Vision 2030...
- Saudi Arabia aims to achieve 75 percent localization in the energy sector by 2030
- Saudi mineral wealth value is more than $1.3 trillion, including phosphate and bauxite minerals
Interview
Despite culture, MENA coffee business still nascent
The region’s coffee market growing rapidly creates new business opportunities, says Ali Al-Ebrahim, founder and CEO of COFE.
- Coffee consumption in MENA has experienced a massive shift, with sales growing at twice the global average
- Coffee has been at the heart of Middle Eastern culture for centuries
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...
Business
Company News
Latest News
Gulf banking sector flourishes amidst rising rates
GCC banks experienced robust lending growth during Q2-2023, despite multi-decade high rates from US hikes, with loans from GCC-listed banks...
Analysis
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 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
Most Read
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