WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...
Interview
Crypto market sees drop in scams, stolen funds
The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue,...
Business
Business
Major M&A deals in the UAE in 2021
M&As result in savings in manufacturing and service, increased competitiveness, and increased financial capabilities and efficiency, among other things.
- Agreements worth $11 billion were signed in the UAE in the first eight months of 2021
- M&A are considered a means of resolving crises and encouraging economic growth
Economy
Saudi Arabia, UAE eye strong growth amidst challenges
London-based think-tank Cebr predicts the economic future of countries across the world and the outlook remains rosy for the Gulf...
- Saudi Arabia will jump from t19th to 17th in the World Economic League Table by 2021
- The UAE is expected to move up in the table from 34th in 2021 to 33rd in 2036
Business
Ecommerce changes GCC buyers, sellers forever
As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.
- Retailers in the region are becoming more aware of the necessity to create ‘brand.com’ sites
- AR and AI will become more commonly used to improve the consumer experience
Science
2021: UAE enters Mars orbit on first try
On February 9, the UAE announced that its exploratory probe, ‘Hope’ had successfully entered Mars' orbit, marking it the first...
- On February 9, the UAE announced that its exploratory probe, ‘Hope’ had successfully entered Mars' orbit, marking it the first Arab expedition to the Red Planet
- The UAE became the fifth country to launch a Mars mission successfully and the third to enter Mars orbit on the first try
Economy
Saudi economy set to be buoyant in 2022
The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and...
- Jadwa Investment Company and Al-Rajhi Capital expects value-added tax unlikely to change.
- Beltone expects that inflation would remain around 2 percent, affected by global inflationary pressures.
Interview
Breathable sand could disrupt UAE agri-sector
The technology could help the UAE grow more crops within its boundaries, ensuring food security, says Dake Rechsand CEO and...
- The UAE is 80 percent desert, with less than 1 percent agricultural land
- Systemic, climatic, and geographic concerns threaten food and water security in the country
Arts & Culture
Saudi festivals celebrate cultural blooming
As Saudi Arabia opens up on the culture front, tourism gets a leg-up in a boost for Vision 2030.
- Saudi Arabia is witnessing a huge tourist boom, reflecting the government's interest in the sector
- STA collaborates with the Saudi tourist sector to develop one million jobs and 100 million annual visits by 2030
Analysis
Saudi Arabia to dominate regional ecommerce
Factors ranging from internet penetration to smartphone ownership to bank-account holdings, and more are coming together to make Saudi Arabia...
- The GCC will have the fastest ecommerce growth in the MEASA region between 2019 and 2022
- Ecommerce will help Saudi’s economic growth, with the domestic online market expected to reach $2 billion by 2025
Interview
Saudi Arabia looks to lead solar-cell industry
Demand for PV technology will increase in 2022, says Fahad Bin Omairah, CEO of Bin Omairah Holding Company.
- Masdar is a state-of-the-art PV solar panels factory with a total capacity of 1.2 GW and a SAR700 million investment
- Solar panel systems are now priced $1-1.5 per watt
Interview
Consumer ‘experience’ reshapes retail in the Gulf
Companies are increasingly focusing on health and wellness in products and services, says Mohammad A Baker, Deputy Chairman and CEO...
- People, communities, and governments are working to attain personal sustainability goals driving the retail sector
- GCC governments have established several measures targeted at raising awareness of healthy lifestyles
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WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...
Interview
Company News
Latest News
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...
Economy
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...
Business
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...
Economy
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Economy
Oil price, COVID-19 spur Arab world’s public finance
Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term growth.
- Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term economic growth
- In 2022, global, regional, and local inflation led to a decline in public revenues and expenditures in the Arab world, while the public budget deficit fell from 6.7% to 2.1%
Economy
ESG shapes MENA region’s urban regeneration strategy
ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and...
- ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and Makkah, says a report
- Embracing the L-I-F-E (learn, integrate, fix and earn) approach for urban renewal offers GCC sustainability, resilience, growth, social unity, and global acclaim
Economy
UAE takes lead in advancing global climate action
Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating...
- Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating global climate crisis
- The world sees more frequent and direct impacts of the crisis, exemplified by record-breaking heatwaves wreaking havoc on ecosystems and communities, says an expert