Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
Business
Dubai sets 75% renewable goal by 2050
The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar...
- The Mohammed bin Rashid Al Maktoum Solar Park, the world's largest single-site solar park, demonstrates Dubai's commitment to solar energy.
- The emirate is home to the Dubai Solar Institute, a world-class research center focused on solar energy technologies.
Business
Are neobanks challenging traditional players in UAE?
While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...
- While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future of banking in the region, says a report.
- In the UAE, neobanks struggle with funding over trust issues in the absence of deposit insurance, while the CBUAE supports their growth, ensuring traditional banking stability.
Business
81% UAE companies plan to use AI for cybersecurity
AI has emerged as a transformative force in various sectors, revolutionizing how businesses operate, make decisions, and secure their assets,...
- AI has emerged as a transformative force in various sectors, revolutionizing how businesses operate, make decisions, and secure their assets
- The research has found that 94% of UAE respondents understand the potential cyber risks, and 89% feel their organization is cyber-ready
Economy
Global trade at a crossroads as Gaza conflict intensifies
With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of...
- With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of international supply chains.
- The region's conflict may intensify the factors impeding trade growth, alongside other issues such as rising rates, crisis in China's realty market, and Russian-Ukrainian war.
Business
Conflict points to economic shift in Arab-Israel ties
Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key...
- Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key regional trade pacts.
- Israel's strategic gas deals and burgeoning trade with Arab nations, including a potential UAE free trade deal, will be affected if the Gaza conflict escalates further.
Market Report
Gulf markets tumble amid rising geopolitical concerns
As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...
- As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
- Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.
Business
Investors eye gold as safe haven amid Gaza tensions
The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial...
- The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial market reactions.
- The 'political reversal' scenario for the present Middle East developments involves potential involvement of Lebanon and Syria, while the 'oil crisis' scenario involves Iran.
Economy
Futuristic strategies elevate Dubai
Dubai's transformation from a humble fishing village to a global tourist powerhouse is nothing short of remarkable. Just decades ago,...
- Dubai's evolution from a simple fishing village to a premier global tourist hub is credited to its innate advantages, deliberate investments, and cohesive destination development
- The emirate exemplifies visionary leadership and adaptability, attracting millions yearly, and has shown resilience during crises like 2008 financial downturn and Covid pandemic
Geostrategy
Middle East conflict may disrupt global trade routes
Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy...
- Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.
- IMF's Kristalina Georgieva and World Bank's Ajay Banga stress economic vulnerabilities and development impacts amid volatile oil prices potentially surpassing $100 per barrel.
Economy
Huge investments propel GCC project sector growth
The GCC project sector, one of the world's most dynamic, has recorded a significant surge in project awards, reaching $41.8...
- The GCC project sector, one of the world's most dynamic, has witnessed a significant surge in project awards, reaching $41.8 billion in the third quarter of 2023, says a report.
- Driven by diversification efforts, countries like Kuwait and Saudi Arabia lead in contract values, emphasizing sustainable projects that align with long-term economic aspirations.
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Company News
Latest News
UAE, KSA lead as tech and energy drive IPOs in GCC
Market Report
GCC at the forefront of 2024 sukuk market expansion
Market Report
Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...
Business
WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...
Interview
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
Business
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Economy
Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...
- The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the Kingdom's diversification.
- Riyadh aims to become a global economic hub, drawing international experts and fostering knowledge transfer, with potential economic benefits estimated at $45 billion.
Market Report
GCC at the forefront of 2024 sukuk market expansion
This year, emerging markets, led by the UAE, issued record bonds against declining yields and expected rate cuts by major...
- This year, emerging markets, led by the UAE, issued record bonds against declining yields and expected rate cuts by major central banks.
- According to Kamco Invest, this surge is driven by a combination of factors including geopolitical tensions and evolving economic challenges.
Business
Crypto market sees drop in scams, stolen funds
The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue,...
- The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue, says a latest report.
- Revenues for crypto scamming and stolen funds fell significantly in 2023, with total illicit revenue down 29.2 percent and 54.3 percent, respectively, it adds.