PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...
Business
2024 set to see new era of digital transformation
The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...
Economy
Analysis
Unemployment will haunt Gulf in 2021
While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent...
- Saudi Arabia ranked first in the GCC in terms of the unemployment rate, which reached 8.2 percent of the total workforce in 2020.
- Bahrain and Oman are struggling with rising public debts while their unemployment rates stood at 4.1 percent and 5 percent respectively.
Investigation
Anghami rules regional music streaming sector
Homegrown music-streamer Anghami is giving industry bigwigs like Spotify and Deezer a run for their money.
- The $220-million merger with Vistas Media made Anghami the first Arab technology company listed on Nasdaq
- Due to large companies signing agreements with international and local musicians and artists, voice platforms have gained global attention
Infographics
How will new remittance rules affect Lebanon?
The new rule authorizes banks to buy dollars from fresh dollar accounts without a customer's permission.
- Lebanon ranked third in the Arab world in receiving remittances in 2020
- Dollars entering Lebanon in the first half of 2021 were higher by 50 percent than those over the same period in 2020
Business
GCC hotel industry readies for a comeback
The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...
- Hotel licenses in Saudi Arabia can now be obtained in just 10 days.
- Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.
Business
High cost of non-stop flying shakes up aviation
The global aviation industry has been booming for the last few decades now. But the unprecedented growth in jets flying...
- The aviation sector generates 2-3% of global carbon emissions
- Industry leaders pledged to halve net CO2 emissions to 2005 levels by 2050
Analysis
Expo 2020 promises a productive Q4
The sale of tickets, easing of travel restrictions and positive investment projections point to a surge in economic activity in...
- Dubai intends to open its doors to visitors and re-establish 90 percent of its operating capacity at its airports in 2021.
- 66 percent of Dubai business leaders expected an improvement in business conditions in 2021 Q3, compared to 51 percent in the previous quarter.
Economy
Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by...
- Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations
- By 2030, the country expects to enhance its airport capacity by 30 percent
Science
GCC looks up to stars with its space probe
The GCC might have been a late entrant to the exclusive club of space programs, but with its deep pockets...
- The GCC governments have built a 21st-century vision of space focused on business, power, image, and control
- Saudi Arabia's space program is the only one that compares in scope and ambition to the UAE
Analysis
Why Covid-19 jolted some Arab states?
The flaws in the health systems of some MENA countries such as Tunisia, Lebanon and Jordan, which were struggling with...
- Tunisia's healthcare system appeared crumbling under the weight of recent infections caused by the Delta variant.
- The Lebanese government's failure to pay dues to be public and private hospitals aggravated the Covid-19 crisis.
Business
Saudi Arabia leads GCC AI healthcare race
Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring...
- Saudi Arabia is predicted to benefit the most from the shift to AI among the six GCC countries
- AI is expected to contribute $15.7 trillion to the global economy by 2030.
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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
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...
Business
Company News
Latest News
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...
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,...
Economy
Office segment demand drives Saudi Arabia’s real estate boom
"The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani,...
Economy
Most Read
Economy
MENA region trails in global race for gender parity
The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region...
- The Middle East and North Africa region scores only 62.6% in gender parity, and at the current pace, the region will achieve full parity in 152 years, says a WEF report
- Solutions like Gender Parity Accelerators and DEI Lighthouse Program are being implemented, but the path to gender parity remains a challenging one, it adds
Business
Gaming navigates financial woes amid inflation rise
The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it...
- The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by the year 2030, says an expert
- With the largest gaming community in the GCC, Saudi Arabia recognizes the potential of esports and gaming as drivers of economic growth and cultural development, he adds
Economy
HNWIs’ wealth in Middle East grows despite slowdown
Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
- Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors
- Globally, HNWI wealth and population declined, with North America experiencing the sharpest decline. HNWIs have shifted focus to value and prioritized wealth preservation