Business and leisure combo drives GCC tourism boom
Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious...
Business
March sees GCC Index drop as heavyweight sectors lag
GCC equity markets experienced a March downturn, influenced by seasonal selling pressure during Ramadan, leading to a 3.0% drop in...
Economy
Business
GCC equity markets record first gain in four months
The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...
- The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar and closely followed by Saudi Arabia and Dubai.
- This resurgence is a positive sign for the region's markets, which are showing robust growth and diversification efforts, particularly in sectors like Pharma & Biotech.
Economy
Is 2030 the finish line for the Gulf Railway Project?
The Gulf Railway aiming for completion by 2030, will link GCC nations with a comprehensive rail network, marking a new...
- The Gulf Railway aiming for completion by 2030, is set to link GCC nations with a comprehensive rail network, marking a new era in regional transportation and economic integration.
- Saudi Arabia's railway expansion, an integral part of the Gulf Railway Project, boosts GCC connectivity and trade, with parallel progress in the UAE, Qatar, Oman, and Kuwait.
Business
Defying global trend, UAE leads Middle East IPO surge
The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from...
- The region's IPO momentum is driven by strong performances from entities like Dubai Taxi Company and a significant announcement from Abu Dhabi’s healthcare sector.
- Despite a 54 percent annual decrease, Middle East IPOs raise $8.4 billion in 2023, as the MSCI Gulf States Index climbs 8 percent, defying global economic downturns.
Business
Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
- Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026
- The UAE and Saudi Arabia are at the forefront of the Islamic fintech revolution, setting new digital standards and driving the sector's global expansion, says a latest report
Business
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...
- Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.
- GCC-listed banks hit a new record with aggregate gross loans reaching US$1.95 trillion by Q3-2023, as strong manufacturing and project awards boost market scenario.
Market Report
Q3 corporate earnings show mixed results in GCC
While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience,...
- While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience, says a latest report.
- The latest comprehensive analysis by Kamco Invest delves into the intricacies of the GCC's corporate financial performance during a turbulent economic period.
Geostrategy
Global food-security crisis nudges GCC to look inward
Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region...
- The region is pouring investments into food manufacturing projects, such as dairy products, meat, poultry, fish, fruits, vegetables, and processed foods
- The GCC governments have devised measures to support local farmers, with much of the focus on local farms and investments in farms outside the Middle East
Business
Conflict hits regional gas supply and infrastructure
The Israel-Hamas conflict has halted gas production at the Tamar plant, significantly impacting the region's infrastructure and disrupting Israel's gas...
- The Israel-Hamas conflict has halted gas production at the Tamar plant, significantly impacting the region's infrastructure and disrupting Israel's gas exports.
- The conflict poses risks to the regional energy sector, potentially affecting Egypt's gas supply and oil and gas prices due to tensions in the Strait of Hormuz.
Business
AI transforms office roles and enhances productivity
Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
- Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
- Chatbots and virtual assistants are set to enhance employee experience and workplace efficiency, while companies shift focus to outcome-based performance.
Economy
Rising temperatures worry MENA region
The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
- With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
- In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.
Business and leisure combo drives GCC tourism boom
Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious...
Business
Company News
Latest News
Diversification helps GCC surge in global markets
Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global...
Economy
Female founders flourish in UAE’s startup ecosystem
Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international...
Economy
Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...
Business
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Business
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...
- The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest report points out.
- The Boston Consulting Group report reveals that 61% of Middle Eastern executives anticipate over 10 percent productivity gains from AI and GenAI in 2024.
Market Report
Kuwait leads GCC market gains amid regional tensions
Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...
- Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse impacts on regional markets.
- Kuwait led with a 6.6% gain, while declines in Qatar, Saudi Arabia, and Abu Dhabi were balanced by other markets, amid notable drops in energy, materials, and real estate.
Business
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...
- The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a latest report.
- With Dubai defying global trends and Saudi Arabia's Vision 2030 spurring growth, the landscape is ripe with potential. Qatar, however, faces correction.