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
Holy and worldly offerings of Saudi tourism
The Arab world's most powerful economy is devoting enormous resources to attracting at least 100 million tourists by 2030. TRENDSMENA...
- King Fahd Fountain, the tallest fountain in the world, holds up to 318 tons of seawater and measures 312m in height.
- Masjid al-Haram comprises 13 minarets, while five main entrances/doors and hundreds of subsidiary doors give the building its overall form.
Analysis
Covid-19 fails to impact realty in UAE, Saudi Arabia
While the UAE has seen a record amount of real estate sales in the first six months of 2021, Saudi...
- Demand for villas increased in the UAE because of the pandemic outbreak and also due to low-interest rates.
- The real estate sector contributed 14.2 percent of the Saudi GDP ranking third as the most contributing economic activity.
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
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
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
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...
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...
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...
Economy
Most Read
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,...
- Prime rents in Riyadh have risen by 19 percent in the last year, while in Jeddah, they have risen by about 9 percent
- The main demand centers for office space in the kingdom are Riyadh and Jeddah, and Dammam Metropolitan Area
Business
Adaptability, innovation crucial for success in Dubai’s competitive F&B industry
Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla of Infiniti...
- Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla, Founder of Infiniti Holdings & DCloud Kitchens
- The F&B sector in the UAE is expected to touch US$8.9-billion mark by 2025, with Dubai, which hosts more than 20,000 eateries, leading from the front, adds Chawla
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