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
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
Business
Interview
Tech-enabled sustainability can help hospitality
SB Group founder and CEO Sanjeevv Bhatia says the hotel industry can no longer ignore net-zero goals.
- Hospitality buildings account for about 40 percent of worldwide energy consumption and GHG emissions
- Old buildings are riddled with vendor-locked and legacy systems that are inflexible and thus difficult to optimize
Market Report
Omicron batters indices across MENA
Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’...
- The Saudi stock market's main index falls by more than 5% to 10,700 points
- The Abu Dhabi Stock Exchange index (ADX) drops by 2.6% to 8230 points
Business
Tips to consider before starting a new business
With the Covid-19 pandemic leading people to start their own businesses, a good beginning could make all the difference.
- While it is feasible to start a business with limited resources, there are always obstacles to overcome
- Over 65 percent of businesses fail within 10 years, and approximately 20 percent within two years
Interview
UAE industries are embracing solar power
Al Bayader International, for example, has set up solar farms to offset energy costs and build sustainability, says Founder and...
- Companies want to decrease their carbon footprint and lower their electricity expenses
- As a result, they are increasingly installing rooftop solar farms to save on energy bills
Interview
Fintech fuels MENA startup scene
It is vital for the economic development of the Middle East by fostering innovation, entrepreneurship and creating large-scale employment opportunities...
- According to a recent Forbes report, there are at least 2,800 FinTech startups in the Middle East and Africa
- In Saudi Arabia, startup funding topped US$168 million in the first half of 2021, 65% more than it did in H1 2020
Interview
E-commerce leads change in Mideast retail, fashion
"During the pandemic, e-commerce grew in popularity since it was the most viable — or only — choice at the...
- The emphasis on value fashion is a structural shift that is part of the new normal
- Building a hyper-convenient service ecosystem can significantly increase reach and profitability
Business
Where does Saudi Arabia’s PIF invest most?
The kingdom's sovereign wealth fund is critical to its economic goals as it channels returns from foreign investments into non-oil...
- The Saudi Public Investment Fund raised its US-listed stock holdings to $43.4 billion in 2021 Q3.
- The PIF is one of Lucid's most notable investors, owning approximately 62.7 percent of the company's shares.
Analysis
Luxury brands burning products is a problem
High fashion can be detrimental to the environment because of its large carbon footprint.
- To keep their uniqueness, high-end fashion brands routinely burn unsold products
- Fashion contributes up to 8 percent of the global carbon footprint
Interview
High packages may help GCC in talent hunt
Global employment, which was severely affected by the pandemic, is beginning to rebound as economies reopen. The UAE, which was...
- There is a growing competition for the local talent also, necessitating re-evaluation of salary packages.
- Working from home is here to stay, and many candidates are increasingly asking about this flexibility.
Economy
Kuwaitis complain about rising prices, high inflation
Growing costs and a drop in purchasing power are seen as deterioration of the standard of living Kuwaitis have been...
- The International Monetary Fund (IMF) attributed Kuwait's high inflation rate in 2021 to sharp rises in food prices and the cost of travel-related services.
- The IMF expected that inflation would reach 3.2 percent by the end of this year and then stabilize at 3 percent in the medium run.
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
Company News
Latest News
Saudi real estate gets non-oil boost
The Saudi commercial real estate market is set for a significant upswing in 2023, propelled by the government's vision to...
Business
GCC eyes global recycling dominance amidst EV boom
While rising EV demand may cause a global shortage of metals like cobalt and lithium by 2030, the Gulf region's...
Business
Oil prices fluid amid geopolitics, economic recovery
Geopolitical tensions, such as the Russian-Ukrainian war and the trade war between the United States and China, have sent shockwaves...
Business
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Economy
Saudi Arabia turns to maritime to diversify revenues
Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
- Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion
- The complex aims to localize technologies and meet the needs for building offshore oil and gas rigs, offshore platforms, offshore support vessels, and crude tankers
Geostrategy
Eastward shift: GCC builds strategic ties with ASEAN
Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance...
- Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance ties by signing Treaty of Amity and Cooperation
- The UAE dominates Gulf investments in ASEAN with 74% share from 2016 to 2021 as recent free trade agreements with Indonesia and Singapore indicate expanding GCC-ASEAN ties
Business
Flying taxis: Saudi Arabia stares at sustainable skies
NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility.
- NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility
- 'Taxi ports', air traffic systems, private sector participation, and new regulations are crucial to futuristic transportation to ensure safety and efficiency in mobility