‘Over 91 percent of travel bookings are now online’
Digitalization is revolutionizing travel, and data analytics is hyper-personalizing the sector, notably in GCC's growing business tourism, says Pallav Singhvi...
Business
Luxury goods boom in Gulf draws global investors
The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion...
Business
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.
Economy
MENA’s $2trn construction boom boosts sustainability
With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in...
- With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in sustainable urban development.
- The region sees a unique chance to pioneer sustainable technologies, potentially reducing lifecycle emissions by 50-60%, highlights Strategy& Middle East and Dar.
Economy
Gaza conflict casts shadow on Israel’s gas industry
War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
- The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
- The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan
Economy
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
- The report projects a nearly $11 billion deficit on average over 2023-2026 which is 0.5 percent of average GCC GDP over this period
- Prudent fiscal policy and the relatively higher oil price environment have resulted in some governments repaying part of their debt stock
Economy
GCC maintains stable inflation rates despite crises
Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the...
- Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.
- The latest Kamco report offers an insightful analysis of economic trends in key Gulf countries, shedding light on their unique inflationary challenges and strategies.
Business
Technological advances propel UAE’s payments industry
The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the...
- The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the evolving global payments landscape, says a report.
- Moreover, the Gulf country's economic expansion and changing consumer preferences towards digital payments are also leading to continuous growth of the payment industry.
Analysis
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
- Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
- The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.
‘Over 91 percent of travel bookings are now online’
Digitalization is revolutionizing travel, and data analytics is hyper-personalizing the sector, notably in GCC's growing business tourism, says Pallav Singhvi...
Business
Company News
Latest News
Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...
Business
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
Most Read
Economy
KSA seeks to lead global sustainability drive with Alat
Led by Saudi Crown Prince Mohammed bin Salman, Alat is poised to revolutionize the tech sector, aiming for carbon neutrality...
- Led by Saudi Crown Prince Mohammed bin Salman, Alat is poised to revolutionize the tech sector, aiming for carbon neutrality and creating thousands of jobs.
- Alat, with its seven strategic units like semiconductors and smart devices, aims to innovate in over 30 categories, from robotics to heavy equipment, serving diverse industries.
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.