Crypto soars in MENA even as it loses sheen elsewhere
A tech-savvy population sees cryptocurrencies a safe investment option as governments adopt progressive regulatory frameworks, offering innovation and investor protection.
Business
‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...
Economy
Automation revolutionizes financial business models
The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge...
- The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge technologies
- Projected to hit $949bn by 2030, FinTech investments spotlight trends like open finance, decentralized finance and digital assets, while open banking enhances decision-making
Business
Growing IT outlays intensify MENA’s transformation
The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...
- The region's IT spending is projected to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth
- This surge aligns with the MENA region's push for digital transformation, enhanced cybersecurity, and a focus on generative AI initiatives
Business
Russian and Asian millionaires drive Dubai realty boom
Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms are playing a crucial role in solidifying Dubai's global real estate...
- Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms, are solidifying Dubai global real estate prominence, says a report
- Dubai promises investors a 7.34% return on apartments, benefiting from a US dollar-UAE dirham peg and no rental tax, outpacing London's 4.18% return
Business
Oil prices at a crossroads as production cuts persist
Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to...
- Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to an anticipated market deficit until 2023-end, says a report
- Refineries grapple with material changes and disruptions as Russia's diesel export reduction boosts futures prices and OPEC+ cuts drive high oil prices during Q3 of 2023
Business
Saudi Arabia leads as MENA region sees gaming boom
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...
- The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030
- Spearheaded by Saudi Arabia, the region's gaming renaissance reshapes the global landscape, with Gamers8 festival showcasing the region's growing influence in the sector
Geostrategy
COP28 to boost climate resilience and agri innovation
Chaired by UAE Envoy for Climate Change Sultan Al Jaber, the global climate summit will focus on a four-pillar strategy...
- Chaired by UAE Envoy for Climate Change Sultan Al Jaber, the global climate summit will focus on a four-pillar strategy for a sustainable future
- Serco CEO Phil Malem calls for private sector involvement, as the UAE pledges significant investments in global renewable energy projects
Business
Saudi Arabia leads as MENA region sees gaming boom
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...
- The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030
- Spearheaded by Saudi Arabia, the region's gaming renaissance reshapes the global landscape, with Gamers8 festival showcasing the region's growing influence in the sector
Business
Real estate exchange transforms Saudi market
The stock exchange offers indices, real estate services, and wealth management. It ensures supply-demand balance, and swift transactions, while delivering...
- MENA's first real estate stock exchange, launched recently in Saudi Arabia, plans to digitize 180 million documents while offering comprehensive financing services
- New Saudi platform saw US$270 million transactions in first two days with 140,000 beneficiaries as real estate prices increased 0.8% in the second quarter of 2023
Business
GCC facility management eyes 10% growth until 2030
Smart FM solution providers such as CBRE optimize FM workflows with virtual maintenance, automated maintenance, and dynamic services, focusing on...
- Smart FM solution providers such as CBRE optimize FM workflows with virtual maintenance, automated maintenance, and dynamic services
- Energy conservation and operational efficiency remain key focus as .UAE FM market is set to grow from $7.14bn in 2023 to $9.87bn by 2028
Economy
Celebrating their success, UAE observes women’s day
Women entrepreneurs in the UAE succeed in breaking the barriers, distinguishing themselves in diverse fields, enabled along the way by...
- The theme for the day was chosen to align with the UAE President Sheikh Mohamed bin Zayed Al Nahyan's proclamation that 2023 will be the "Year of Sustainability"
- Women in the UAE have been able to break through barriers and take on prominent roles in the corporate world largelydue to the country's women-empowerment legislation
Crypto soars in MENA even as it loses sheen elsewhere
A tech-savvy population sees cryptocurrencies a safe investment option as governments adopt progressive regulatory frameworks, offering innovation and investor protection.
Business
Company News
Latest News
GCC emerges as a cryptocurrency investment hub
Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...
Business
MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
Business
UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...
Business
Most Read
Economy
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...
- The industrial sector will contribute up to $1trillion annually to the GDP of the region
- Many experts estimate the sector can generate up to 15 million jobs in the next decade
Economy
SMEs in UAE confront expense management challenges
Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points...
- Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points out.
- Empowering employees through corporate cards fosters a culture of responsibility and accountability, facilitating seamless reimbursement processes, the report adds.
Business
At 10% growth, Saudi banking sector shows resilience
With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical...
- With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical risks.
- The sector's commitment to sustainability and strategic risk management promises a future of stability and growth, highlights the latest insights from S&P Global.