Saudi startups soar amid surge in venture investments
Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...
Economy
Arab region faces soaring youth unemployment crisis
The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...
Economy
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.
Interview
Covid-19 drives e-learning in GCC
There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts...
- There has been a massive growth in content creation and learners' demand in last two years
- E-learning is highly dependent on digital infrastructures, such as Internet usage and connection fees, which vary dramatically from one Arab country to another
Research
Saudi biggest Arab economy, Sudan most indebted
The Saudi economy, as per IMF, is recovering "well" from the pandemic, estimating the kingdom's non-oil economy will grow by...
- COVID-19 increased the average debt in Arab countries to 81.8 percent of its GDP in 2020, up from 69.4 percent in 2019.
- Qatar has the highest GDP per capita in the Arab world due to its small population.
Research
Saudi gold glitters more in the region
Gold prices reached record levels in 2020 following an increase in investor appetite because of COVID-19. The price of yellow...
- Gold jewelry shopping in Saudi Arabia and Egypt grows 13 percent and 4 percent and decreases 12 percent in the UAE
- China purchased 191.1 metric tons of gold in 2021, followed by India, which bought 102.5 metric tons
Business
Cloud adoption picks up pace in GCC region
The strong demand for cloud computing in the Gulf region is driven by efforts of the member states to diversify...
- The UAE leads the region in terms of cloud computing adoption and annual spending.
- The MENA region will be worth around $5 billion to cloud suppliers by 2022.
Analysis
Gulf aviation sector maintains regional lead
Several airports in the region have announced plans to expand their airports to meet the expected growth in travel demand.
- Experts see up to 40 percent rise in premiums in the next two to three years.
- The total number of passengers traveling through DXB in the first five months of 2021 was around 9.9 million.
Analysis
The Grand Renaissance Dam: Egypt’s Nile nemesis
Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.
- Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.
- Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.
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Saudi startups soar amid surge in venture investments
Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...
Economy
Company News
Latest News
GCC project awards surge by 86% to $49.7bn in Q2
The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength...
Business
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
Most Read
Economy
Will extended oil production cuts stunt Saudi growth?
The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
- The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts
- Amidst varying projections, the overall concern is clear: the extended cuts could strain the economy and may even lead to contraction if the trend continues into 2024
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