‘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
MIA Art Collection boosts gender equality in art
The MIA Art Collection aims to bridge the gap between the art scene and the business sector, empowering women artists,...
Arts & Culture
Economy
Luxury tourism in Gulf countries set to reach $11bn this year
GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions...
- Strategic location, modern attractions and eco-friendly initiatives are driving tourism growth in the region, which is actively developing infrastructure to propel the sector.
- UAE leads global rankings in travel importance and luxury travel preferences, while Saudi Arabia's tourism sees tremendous growth with diverse attractions and ongoing projects
Business
MENA region startup funding falls to 2018-19 levels
Factors contributing to the slowdown include the aftermath of SVB crisis, Eid and Easter holidays, and the global decrease in...
- Factors contributing to the slowdown include the aftermath of SVB crisis, Eid and Easter holidays, and the global decrease in investment in tech startups due to Ukraine war
- Despite the decline, two deals worth US$35 million each were announced in May, indicating a potential slowdown rather than a complete lack of investment in the region
Business
Poll: Competence, quality key to boost GCC logistics
The TRENDS poll highlights the need to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities.
- The TRENDS poll highlights the need for GCC nations to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities
- The UAE emerges as a leader in quality infrastructure, ranking first in the MENA region and 11th globally in the Quality Infrastructure Index for Sustainable Development, it adds
Economy
Tech impact: New jobs emerge as automation prevails
As future job market will be affected by AI, digitization and economic developments, big data analytics, management technologies, and cybersecurity...
- As future job market will be affected by AI, digitization and economic developments, big data analytics, management technologies, and cybersecurity will drive employment growth
- Slower economic growth, supply shortages, and inflation pose greater threats to employment prospects, says WEF report while highlighting the importance of investing in green firms
Business
Enhanced governance, financial control crucial for SMEs’ growth in Gulf region, says expert
Despite significant rise in SMEs across GCC, there is still room for improvement in terms of governance, bringing in external...
- Despite significant rise in small businesses across GCC, there is still room for improvement in terms of governance, bringing in external shareholders, says Rabih I. Khoury of MEVP
- Reducing political friction and achieving economic and political stability will help regain consumer confidence and encourage longer-term investments, adds Khoury
MEA manufacturers eye digital technology for growth
While 82% firms are increasing investments in industrial automation and robotic process automation, 56% of them focus on enhancing employees'...
- While 82% firms are increasing investments in industrial automation and robotic process automation, 56% of them focus on enhancing employees' digital experiences at workplace
- To meet the evolving demands, firms are investing in renewable energy sources and eco-friendly production methods, ensuring long-term growth while minimizing environmental impact
Economy
MENA startups show resilience despite challenges
While 67 deals totaling $247 million in funding were reported in March 2023, the total capital raised in Q1 2023...
- While 67 deals totaling $247 million in funding were reported in March 2023, the capital raised in Q1 2023 surpassed $1.1bn, marking a 17% rise over the last quarter
- The financial technology industry emerged as the most attractive sector, receiving 73% of venture capital activity, highlights Wamda's March report
Economy
Private sector sees 13% increase in Emirati workers
More than 10,500 Emiratis have joined the private sector since the beginning of 2023, bringing the total number of Emiratis...
- More than 10,500 Emiratis have joined the private sector since the beginning of 2023, bringing the total number of Emiratis employed in the private sector to over 66,000
- Trends point to a positive job market outlook as employment experts predict an average increase of 2-5 percent in employee salaries in 2023, varying by sector and role
Business
Technology drives facility management growth in GCC
The sector is likely to grow at a CAGR of about 10% on the back of technology adoption, rising expenditures...
- The sector is likely to grow at a CAGR of about 10% on the back of tech adoption, rising expenditures in building industry, and flourishing tourism, says an expert
- Tech-driven dynamism in market leads to surge in computer-aided facility management and IoT adoption, highlights Sangeetha B, Founder & CEO of Amantra
Business
Women leaders ‘just as competent as men’
Creating an environment conducive to growth for women is no longer a nice-to-have but simply good business sense, says Sahar...
- Sahar Haidar, Director of Global Operations at Amana, highlights the competence of women leaders in male-dominated fields.
- Haidar emphasizes the importance of mentorship and creating supportive environments for women in the workforce.
‘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
Company News
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Innovation makes GCC’s gifting tradition sustainable
Arts & Culture
CBDCs, DeFi and AI boost FinTech innovation in GCC
The GCC's FinTech sector is booming with CBDCs revolutionizing cross-border transactions and a surge in innovations boosting financial inclusivity, efficiency,...
Business
GCC’s F&B packaging industry transforms post-COVID
The F&B packaging industry in the region adapts to post-COVID consumer behaviors, emphasizing health, wellness, and sustainability, Abdelghany Eladib of...
Business
Innovations, investment spur UAE lab equipment surge
Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is...
Business
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Business
AI reshapes UAE’s business strategy, workforce skills
Nearly two-thirds (59 percent) of business leaders in the UAE express their commitment to increasing investments in advanced technology, says...
- Nearly two-thirds (59 percent) of business leaders in the UAE express their commitment to increasing investments in advanced technology, says a latest report.
- The Alteryx survey reveals that 47% of UAE business leaders express concerns about data privacy, 40% about transparency, and 36% about data governance.
World Economic Forum
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...
- The World Economic Forum meeting in Saudi Arabia will address economic issues, international cooperation and global challenges
- The kingdom's finance minister said the region requires a strong Saudi Arabia to contribute and that future outlook looks positive
Business
UAE firms face AI-driven data management hurdles
In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their...
- In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their business goals, says a latest report.
- Only 44% of UAE businesses are confident in their data's accuracy, leading to increased investment in data training and governance to address these concerns, it adds.