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
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.
Economy
Bitcoin no threat to dollar, global economy
Despite being the future of money, Bitcoin cannot be the dollar of future because the US dollar is a fiat...
- Bitcoin cannot be the dollar of the future because the US dollar is a fiat currency, created and supported by the US government
- Cryptocurrencies vary from real currencies since they are issued by people and communities rather than governments, something that has never happened before in the history of money
Infographics
Iraqis saddest people in Arab region: Report
Political, economic and social crises in the Middle East countries has led to an implosion of negative emotions among their...
- Lebanon, Egypt and Tunisia follow Iraq, according to Gallup World Poll.
- Research has revealed that emotions usually drive bad investment decisions.
Economy
Saudi, UAE lead MENA region in 5G deployment
The MENA region will have 80 million 5G subscriptions, representing about 10% of total mobile subscriptions by 2025, according to...
- The total number of Saudi Governorates covered by 5G coverage increased to 53 in Q1 2021
- The UAE ranks third internationally among countries with the fastest data download speeds in 5G networks, according to an analysis by “Opensignal”
Economy
Saudi non-oil revenues jump 206%
The non-oil revenues of Saudi Arabia have increased to US$31 billion in Q2 2021 as against US$10.1 billion in Q2...
- Saudi economy contracted by 7 percent in 2020 but grew by 1.5 percent in Q2 2021
- IMF expects Saudi real GDP to expand by 2.4 percent in 2021, following a contraction of 4.1 percent last year
Interview
Hyperinflation imminent in Lebanon: Nasser Saidi
A crushing economic crisis, a sharp collapse of the local currency and a bankrupt banking sector are adding to the...
- Lebanon's banking sector must reduce the size by at least 50 percent if not more, says senior economist Nasser Saidi
- Lebanon, he says, will take 5–7 years to recover if it agreed to an IMF program within the next three months
Research
Five cities poised to become GCC tech hubs
As part of economic transformation, some Gulf countries seek to achieve targets in digital transformation via long-term plans such as...
- The UAE has become a technological leader in hosting the world's largest event, Expo 2020 Dubai.
- In February 2021, 24 global firms had signed agreements to open regional offices in Riyadh.
Analysis
UAE platforms lead GCC crypto market
Even as the GCC countries dither to embrace cryptocurrencies, the UAE has made some significant strides in this regard.
- The United Arab Emirates already boasts about some of the biggest crypto exchange platforms in the GCC region
- However, it is yet to warm up to crypto ATMs, a field where the United States rules the roost
Arts & Culture
Dubai’s gourmet restaurants hungry for a star
It is a prize a restaurant or a chef would die for to possess. It is the culinary equivalent of...
- Technically there are no Michelin-starred restaurants in the Arab countries, as Michelin does not publish a city guide yet
- However, many restaurants in Dubai are owned by chefs who have earned Michelin stars in other countries
Most Read
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
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
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