Reforms help Saudi banking sector post robust growth
The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase...
Business
UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...
Business
YEARBOOK 2023
E-commerce registers 200 percent growth in GCC
The sector gains meteoric traction, largely due to structural shift in consumer interests and partly because of the pandemic-induced accelerated...
- E-commerce gains meteoric traction, largely due to structural shift in consumer interests and partly because of the pandemic-induced accelerated digitalization, says an expert
- The retail industry in the UAE is projected to develop at a compound annual rate of 5.1 percent from 2022 to 2026, reaching US$ 113.8bn, says an Alpen Capital report
World Economic Forum
Energy security key driver of climate investments
The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris...
- The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris Agreement in 2015, says IEA Executive Director Fatih Birol
- "We are entering the first global energy crisis," says Birol while highlighting the role of Russia in the crisis at a World Economic Forum session
YEARBOOK 2023
Increased oil output, prices to spur Saudi growth
Large infrastructure projects -- mainly supported by the Public Investment Fund and National Development Fund -- are expected to boost...
- Large infrastructure projects -- mainly supported by the Public Investment Fund and National Development Fund -- are expected to boost the Kingdom's economy further.
- Private sector accounted for more than half of the increase as the unemployment among Saudi citizens fell from 15.4 percent in Q2 of 2020 to 9.7 percent in Q2 of 2022
YEARBOOK 2023
MENA professionals eye new skills, better prospects
Despite the challenges of the digital transition in some MENA countries and the rising unemployment, about 90% of professionals in...
- Despite the challenges of the digital transition in some MENA countries and the rising unemployment, about 90 percent of professionals in the region remain enthusiastic about 2023.
- After the pandemic, most employees have high hopes that remote hiring will grow in the coming years and prefer working for businesses that provide some degree of remote work
YEARBOOK 2023
Middle East cybersecurity market set to grow in 2023 as region sees surge in internet, social media users
Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO...
- Nearly 60 percent of organizations in the region had increased their cybersecurity spending in 2022, Abhay Pandey, Founder and CEO at MAST Consulting Group, tells TRENDS
- In SaudiArabia, there are 29.3 million YouTube users, 28.4 million use WhatsApp, 20.3 million are on Snapchat, 14.2 million on Twitter and 11.6 million use Messenger
YEARBOOK 2023
ESG may witness higher traction across GCC this year
Some investment trends that emerged at the tail end of 2022 — clean energy, consumer staples, retail, and infrastructure —...
- Some investment trends that emerged at the tail end of 2022 — clean energy, consumer staples, retail, and infrastructure — will gain further impetus in 2023, says an expert.
- The dire climatic status quo and increasing population may impact consumption patterns, infra needs and utilization of finite resources, adds Neelam Verma of The Continental Group
Investigation
Middle East children are at grave risk in cyberworld
Across the region, parents struggle to shield children from unsavory elements prowling the cyber world, as risks grow with the...
- According to the study, more than 80 percent of children said they would go to their parents for help in those circumstances
- A robust enforcement of existing cyber laws and prosecution of cyber criminals prowling the internet is sorely needed
YEARBOOK 2023
KSA, UAE lead GCC in food security initiatives
Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in...
- Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in the region, says an expert
- Thevolume of investment in the food industry in the Kingdom has exceeded SAR 88.191 billion through more than 1183 factories. the country's official data highlights
Market Report
GCC stocks end the week in decline after a few days of gain
Abu Dhabi Securities Exchange finished 2022 with a gain of almost 20 percent, making it the highest performer among GCC...
- Despite declines in oil and financial firms, the Saudi stock index closed Thursday (January 5, 2023) slightly up.
- On Monday (January 2, 2023), the First Abu Dhabi Bank contributed to a 0.6 percent point increase in the Abu Dhabi Securities Exchange index.
YEARBOOK 2023
GCC banks to benefit from 2022 growth momentum
Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that...
- GCC banks will also reap the benefits of reduced overhead thanks to fewer branches and a smaller workforce.
- A few GCC banks have expanded into risky countries, especially Turkey and Egypt.
Reforms help Saudi banking sector post robust growth
The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase...
Business
Company News
Latest News
GCC business landscape evolves with rising AI tide
Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic...
GCC realty builds on diversification, sustainability
The Gulf real estate sector demonstrates remarkable resilience, buoyed by strategic economic diversification and a focus on sustainable and innovative...
Business
Innovations make Dubai Airport soar to new heights
In 2023, Dubai International Airport ranked second globally in passenger count and was recognized for having the largest seat capacity...
Economy
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YEARENDER
IPOs, investments help GCC markets prosper in 2023
Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in...
- Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in Q3 2023, led by Saudi Arabia and Qatar.
- The change is part of a broader strategy, including Dubai Taxi Company's IPO and Saudi Arabia's Vision 2030 initiatives, signaling a new era in the GCC's economic narrative.
Economy
Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National...
- MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National Hydrogen Strategy.
- The BMW Group's innovative electric and hydrogen vehicles, showcased at COP28, underscore a pivotal shift in the GCC and MENA regions towards a greener, cleaner future.
Arts & Culture
Strategic investments accelerate KSA’s esports market
Vision 2030 is fueling Saudi Arabia's esports surge, with NEOM World Cup 2024 set to elevate its status as a...
- Vision 2030 is fueling Saudi Arabia's esports surge, with NEOM World Cup 2024 set to elevate its status as a global digital entertainment leader.
- With initiatives to foster inclusivity and address infrastructural challenges, Saudi Arabia is poised to reshape the future of competitive gaming.