Saudi Arabia, UAE lead MENA’s smart city development
In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost...
Geostrategy
Localization in focus as KSA raises military spending
Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization...
Economy
Saudi Arabia, UAE lead MENA’s smart city development
In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost...
Geostrategy
Company News
Unique platforms raise Arab women’s voices
Arts & Culture
Latest News
Expo 2030: All eyes on Riyadh as it makes a big pitch
With ongoing mega-projects and economic diversification, Riyadh's strong Expo 2030 candidacy has already garnered support from 90 of 170 member...
Business
Saudi healthcare needs 175,000 professionals by 2030
The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and the implementation of...
Business
Gulf telecom shows robust growth, eyes new avenues
Driven by expats and national development programs, the UAE and Saudi Arabia are expected to experience growth in consumer and...
Business
Most Read
Interview
Rate rise boosts Gulf banks amid crisis
Despite global economic challenges such as the crisis, inflation, and high interest rates, the GCC banking sector has shown impressive...
- Despite crises in US and Europe, the GCC banking sector has shown significant growth, aided by rate hikes and digitalization, says Commercial Bank of Kuwait CEO Elham Mahfouz
- Kuwait's banking industry recorded a 37% profit increase in 2022, and is making strides in adopting AI and supporting sustainability initiatives, she tells TRENDS in an interview
Business
Gulf banks witness continued growth in lending activities
The first quarter of 2023 experienced a surge in credit demand, except for a slight dip in Qatar. The latest...
- GCC banks witness a 3.2% increase in aggregate gross loans, reaching a record of $1.87 trillion, while NPL ratios improve, with the average ratio decreasing to 2.3%
- Due to the expansion of the banking business and government support, the UAE has the highest NPL ratio, while Saudi Arabian banks exhibit the highest q-o-q growth
Economy
UAE implements corporate tax amidst mixed reactions
Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime...
- Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime could pose for family-owned businesses
- Experts see long-term gains including transparency, diversification, and investor appeal from the taxation, which aims to diversify UAE's revenue and strengthen its financial base