Technology transforms Ramadan traditions across GCC
During Ramadan, GCC residents are using digital tools that are enhancing the observance of this sacred month, offering new ways...
Arts & Culture
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
Business
Business
Innovation, sustainability to boost UAE real estate demand as market recovers from coronavirus impact
The swift recovery from the effects of Covid-19 is expected to contribute to a rise in demand for luxury real...
- The swift recovery from the effects of Covid-19 is expected to contribute to a rise in demand for luxury real estate units in the UAE by more than 30 percent next year
- The ongoing interest of international purchasers in Dubai's luxury real estate market is predicted to drive prices up by 13.5 percent in the coming year, says a report
Economy
Updated labor laws give UAE job market an edge as cap removed on fixed-term employment contracts
Both employers and employees stand to benefit from the UAE's recent labor law amendments, Ben Brown, Partner at the law...
- Both employers and employees stand to benefit from the UAE's recent labor law amendments, says Ben Brown, Partner at the law firm Addleshaw Goddard
- To conform to the new UAE labor laws, many firms have already handed three-year fixed-term employment contracts to their employees
Business
Saudi, UAE equities tank as global crude prices slide
The equities had a lackluster week owing to a decline in global crude oil prices amid fears that the surge...
- The UAE stocks ended their weekly trading on a decline, and the Dubai index recorded a weekly decrease of 1.4 percent
- The Saudi oil company Aramco dropped 1.6 percent, Maaden dropped 1.8 percent, and SABIC dropped 2.1 percent
Economy
Food delivery market hots up even as inflation fear makes GCC residents cautious about expenses
Increased energy costs and supply chain disruptions caused by the epidemic would be a considerable burden for Gulf countries, which...
- Increased energy costs and supply chain disruptions caused by the epidemic would be a considerable burden for Gulf countries, which rely heavily on imports, says a report.
- Inflation rates, however, vary widely from a high of 6.5 percent in Qatar to a low of -0.4 percent in Bahrain, a PwC report points out
Business
North Africa takes lion’s share as fintech and sustainability lead MENA startup scene
Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says...
- Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says Theresa Doan of SEE Institute.
- A total of $230 million in funds are focusing on MENA-based businesses and an additional $60 million for female investors in Africa, a report highlights
Interview
Saudi business incubators among the most effective leadership empowerment tools in Gulf region: Expert
Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is...
- Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is in better position, says Nomow's Sumaya Ali Algabbass
- Saudi Arabia, whose startups raised $70 million across 12 deals, ranked third, with e-commerce enabler platform Zid grabbing $50 million, according to a study
Business
Riyadh, Dubai, Kuwait lead MENA in supporting startups as region sees drop in investment levels
Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed,...
- Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed, a latest report points out
- Startups in MENA had raised $173 million across 51 deals until September end, marking a 54 per cent month-on month-drop in investment value
Business
Adaptability now top priority for hiring in GCC
Post Covid, professionals are reviewing and updating their skills to stay competitive in the job market where remote work ha...
- Post Covid, professionals are reviewing and updating their skills to stay competitive in the job market where remote work ha becoming increasingly popular, says a report
- Companies in the region are also re-evaluating their approach to attract top personnel as the need for more flexible schedules have increased in the market
Market Report
UAE stocks end higher even as Saudi markets decline
Saudi equities rose on November 13 but the index fell during the rest of the trading days. UAE stocks started...
- The Saudi Public Investment Fund raised US$612 million through a secondary offering of shares by selling a 10 percent stake in Tadawul.
- The Abu Dhabi Stock Exchange rose after Abu Dhabi Ports Group said that it had acquired global platform for integrated logistics services Noatum.
Market Report
UAE stocks rise while Saudi market declines
DFM index jumped 0.6 percent, Abu Dhabi index rose 0.1 percent, Saudi Stock Exchange varied as index ended its trading...
- Twenty-one of the Saudi Stock Exchange's sectors declined, with the insurance, media, and entertainment industries seeing the most significant decline.
- The Dubai Stock Exchange Index closed up 0.6 percent with gains in four of the exchange's sectors headed by investment and financial services, which gained 1.9 percent.
Technology transforms Ramadan traditions across GCC
During Ramadan, GCC residents are using digital tools that are enhancing the observance of this sacred month, offering new ways...
Arts & Culture
Company News
Esports scores big for Saudi economy, culture & jobs
Arts & Culture
Latest News
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...
Arts & Culture
MENA faces economic turbulence due to Gaza conflict
The Israel-Hamas conflict not only threatens regional stability but also poses significant economic challenges for MENA nations, says Fitch Ratings.
Economy
Fintech leads MENA startup boom with historic funding
Startups in the MENA region secured a staggering $764 million in funding in November 2023, demonstrating the region's growing influence...
Business
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Economy
Renewable energy, sustainability drive GCC growth
The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for...
- The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.
- Investments in solar and wind power in Saudi Arabia and the UAE mark a clean energy shift, reshaping consumer behavior and the financial sector, creating new jobs and industries.
Business
Islamic finance poised to reach $4 trillion by 2026
Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread...
- Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread traction.
- GCC and MENA regions lead in Islamic finance assets, with significant growth in markets like Russia, Canada, and the USA, driven by an 18% annual fintech rise.
Business
Innovations, regulatory shifts make Bitcoin resilient
In 2023, the crypto market sees a surge in blockchain advancements, regulatory shifts, and a notable rebound in Bitcoin, signaling...
- In 2023, the crypto market sees a surge in blockchain advancements, regulatory shifts, and a notable rebound in Bitcoin, signaling a year of dynamic change and potential.
- Most market experts believe that 2024 promises clearer government regulations, DeFi evolution, and integration of cryptocurrencies in traditional financial markets.