Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
Business
Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...
Business
Business
Saudi Arabia eyes gas primacy with Al-Jafurah
The country is looking to move up a position and become the world’s second-largest gas producer with this field.
- Saudi Arabia intends to be one of the most influential in defining global policies in the gas market
- Al-Jafurah is the country’s largest non-associated gas field, with reserves estimated at 200 trillion cubic feet
Economy
UAE’s curtailed working week rule welcomed
UAE is the first country in the world to offer a national work week that is shorter than the five-day...
- Government entities will have 7:30am-3:30pm workdays from Monday to Thursday, while working hours in the private sector may last till after 5pm.
- The new system will allow federal authorities to use flexible working hours and the remote work system on Fridays.
Business
Saudi Arabia drops paper, adopts e-invoicing
The first phase of electronic invoicing in Saudi Arabia has begun, affecting all taxpayers liable to VAT in the Kingdom...
- The Kingdom's first phase of electronic invoicing has begun, affecting all VAT payers
- Purchasing with tax invoices and failing to notify the Authority of any fault will result in a fine of 10,000 Riyals
Interview
‘Saudi women entrepreneurs have it easier now’
Boundary-pushing journalist and entrepreneur Muna AbuSulayman tells TRENDS how things have changed for businesswomen in Saudi Arabia.
- Young entrepreneurs who have never worked before struggle severely, and their businesses fail early, says Muna AbuSulayman
- Influencers should create important and meaningful content for this new world and the new generations, she adds
Analysis
Saudi Arabia, UAE ripe for hydrogen investments
Green hydrogen has the potential to rapidly replace fossil fuels on a large scale, says Cranmore Managing Partner Yusuf Macun.
- Green hydrogen has a lot of potential particularly in heavy transport and heavy industries
- Green hydrogen has the ability to rapidly replace fossil fuels while simultaneously enhancing electrification
Interview
Online food delivery infra a necessity now
‘The delivery sector has become critical to the hospitality industry's survival,’ says Deliverect Middle East General Manager Naji Haddad.
- The explosive rise of online food delivery is forcing restaurants to change how they operate
- Restaurants needed to survive through the pandemic, and now they need to stand out from the competitors
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
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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
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
Business
Company News
Latest News
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
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.
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...
Economy
Most Read
Economy
GCC deals with rice shortage amid Russia-Ukraine war
The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export...
- The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export bans, disrupting global supply chains
- Saudi Arabia experiences an increase in rice consumption, overtaking wheat, while experts emphasize the potential for local rice cultivation in the country.
Economy
Global inflationary waves may hit Arab world’s growth
Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at...
- Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at 3.4% in 2023, down from 5.6% in 2022
- Diversified Arab economies are better equipped against economic shocks, says Arab Monetary Fund, adding that the regional inflation may hover around 6.8% for 2023
Business
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...
- With the office market seen as the most lucrative and the luxury retail sector witnessing a surge, the Kingdom's real estate landscape is undergoing a transformative phase
- The Saudi commercial real estate market is on the brink of a significant expansion in 2023, driven by the government's economic diversification efforts, suggest reports