Gulf countries eye global metal recycling hub status
Amidst an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to...
Economy
Dubai leads way as GCC markets show mixed results
Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains...
Business
Interview
More UAE women take up STEM courses
The Emirati women's share in online enrollments in science, technology, engineering, and mathematics rises to 42 percent in 2021 from...
- The Emirati women's share of online enrollments in science, technology, engineering, and mathematics increased to 42 percent in 2021 from 38 percent in 2019
- Women’s enrollment in entry-level professional certificates also went up in the country from 26 percent in 2019 to 32 percent in 2021
Economy
Expectations rise for Expo 2020 gains to materialize
A study published said projections for 2019 indicated investments that would generate long-term returns of up to $33.3 billion.
- The mega event is expected to create 905,200 job opportunities.
- A survey ahead of Expo 2020 by the Dubai Chamber of Commerce and Industry maintains Dubai’s economy was recovering.
Interview
Expo 2020: Cisco operating next generation IT network
The company, the Expo's 2020 official partner, is ready to greet visitors and provide them with the most up-to-date digital...
- The company, the Expo's 2020 official Digital Network Partner, is ready to greet visitors and provide them with the most up-to-date digital solutions
- It will deploy 20,000 secure endpoints across the site to deliver industry leading connectivity
Economy
UAE and KSA: Competing for a real estate pie
Saudi Arabia and the United Arab Emirates contributed about 70 percent of the total value of the Gulf Cooperation Council's...
- Saudi Arabia and the UAE contributed about 70 percent of the total value of the GCC's real estate deals in H1 2021
- Reports published by KAMCO Research claim Saudi Arabia provided 44% of the value of deals in the MENA region in 2021
Business
What are the top ecommerce platforms in the GCC?
Ecommerce in the world in general and the GCC region in particular has proliferated despite the Covid-19 pandemic, or probably...
- The UAE and Saudi Arabia together accounted for 75 percent of total ecommerce sales in the region
- Ecommerce is expected to rise at a compound annual rate of 19 percent in 2024
Science
GCC nations eye Hyperloop travel by 2030
It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Gulf Arab...
- It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Arab Gulf states using clean and renewable energy
- The Dubai government owned DP World has granted permit to Virgin Hyperloop to develop the technology in the emirate
Business
Stock markets in GCC rise as oil prices gain
Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected...
- Dubai's main share index added 0.2%, extending gains from the previous session
- blue-chip developer Emaar Properties rising 0.7% while DAMAC Properties advanced 2.4%
Economy
Non-oil sectors fuel Saudi economic growth
Amidst forecast of economic recovery of Saudi Arabia, a few sectors that have driven the Kingdom's Q2 growth include real...
- The overall Saudi Arabia's GDP in Q2 of 2021, according to the General Authority for Statistics, has been 1.8 percent
- The robust growth was witnessed in real estate (12 percent), non-oil manufacturing (15 percent), and wholesale, retail trade restaurants, and hotels (16.9 percent)
Interview
Gulf region poised for higher growth in 2021: Expert
The economies of the region are recovering fast on the back of the rising oil prices and speedy vaccination programs,...
- The economies of the region are recovering fast on the back of the rising oil prices and a reasonably speedy vaccination program
- In 2022, tourism should also significantly boost growth, resulting in recovery in the non-oil sector as domestic consumption and investment demand improves
Analysis
Investment in agritech key to UAE’s food security
Investing in agricultural technologies can take the UAE closer to its goal of being one of the top 10 countries...
- Over 100 entities use organic farming techniques in the UAE, including advanced farms that utilize modern agricultural technologies.
- The Abu Dhabi Investment Office is investing at least US$100m in agritech startups as part of their food security strategy.
Gulf countries eye global metal recycling hub status
Amidst an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to...
Economy
Company News
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Trade hits new high as GCC-Japan ties get warmer
Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
Economy
Saudi Arabia: An emerging tourism hub
The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
Economy
Rise in foreign sukuk offset by local currency decline
Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a...
Business
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Economy
E-visas to drive tourism’s GDP share to 10%
Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via...
- The move has simplified and streamlined the processes for obtaining a tourist visa, making it easier for visitors to travel to the Kingdom
- Tourists can apply for the 90-day e-visa through an online portal which is an easy, accessible process with quick visa turnaround times
Economy
AI ‘disrupts economy’ but Middle East optimistic
The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
- An overwhelming 78 percent of respondents are confident that the rewards of GenAI outweigh the risks
- 76 percent of all respondents believe that AI-specific regulations are necessary to manage the risks
Economy
High oil prices, reforms spur Saudi economic boom
The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates,...
- The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.
- Consumer spending saw a remarkable 15% year-on-year rise in May, despite a monthly drop, while SAMA foreign reserve assets rose in May for the first time in six months