GCC sets pace for global decarbonization efforts
The region is in decarbonizing the built environment, with a focus on sustainable urban planning, energy-efficient buildings, and renewable energy...
Economy
Dubai’s real estate soars with notable market growth
The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a...
Business
Business
Digital payments help Middle East businesses recover
Widespread availability of cashless payment methods and universal access to affordable internet services are major facilitators of digital transformation in...
- Widespread availability of cashless payment methods and universal access to affordable internet services are major facilitators of digital transformation in the region
- The use of virtual corporate credit cards in the MENA region increased 126 percent between the third quarter of 2021 and the third quarter of 2022, reports suggest
Business
Why are millionaires flocking to UAE?
By the end of 2022, the UAE is expected to attract more than 4,000 high-net-worth individuals, mostly from India, Russia,...
- Around 25 percent of GCC's millionaires are moving to the UAE. At the same time, others are relocating to other regions like the UK, US and Europe.
- The total private wealth of the wealthy in the UAE increased by US$46 billion between 2019 and 2021, to nearly US$917 billion, according to a Global Citizens report.
Business
AI-based call centers cut costs, ring in better KPIs
Conversational AI contact center deployment saves agents US$80bn in labor expenses by 2026, while global spending on it is expected...
- Conversational AI contact center deployment will save agents US$80bn in labor expenses by 2026, while global spending on it may hit US$1.99bn by 2022, says a report
- According to a Gartner estimate, the percentage of automated AI-powered interactions with human agents will rise to a whopping 10 percent by 2026
Business
A week of mixed fortunes for GCC equities
The UAE bourses ended the week high with help from foreign investors, but the Saudi equities took a tumble under...
- This week's trading sessions in the United Arab Emirates finished on a high note, with the Abu Dhabi market continuing its upward climb
- The financial markets in the United Arab Emirates had a net inflow of $6.45 million from international investors in both the Dubai and Abu Dhabi stock exchanges
Economy
UAE leads GCC towards circular carbon economy
The UAE ranks highest among GCC economies and 12th overall in the first edition of the Circular Carbon Economy Index...
- The UAE ranks highest among GCC economies and 12th overall in the first edition of the Circular Carbon Economy Index that focuses on energy management of the countries
- While Gulf economies are pursuing individual targets to slash down on emissions, there are several opportunities for countries in the region to cooperate for joint emission goals
Business
Hotel occupancy rate points to UAE tourism recovery
The total number of hotel guests in the UAE rose to 10.5 million during the first half of 2022, up...
- The total number of hotel guests rose to about 10.5 million during the first half of 2022, up from 8.3 million during the same period in 2021, latest research by Colliers suggests
- The average daily rate of hotels in the UAE rose by 54% in Dubai, 35% in Abu Dhabi, 53% in Sharjah, 14% in Ras Al Khaimah, and 6% in Fujairah during the Q2 this year
Analysis
Recent floodings in UAE call for sustainable infra
It is a wake-up call that warns of a bigger disaster in cities like Dubai and Abu Dhabi if quick...
- It's a wake-up call that warns of a bigger disaster in cities like Dubai and Abu Dhabi if quick steps aren't taken to deal with heavy rainfalls, Dake Rechsand CEO tells TRENDS
- 'The existing greenscape and bluescape infrastructure are less suitable for handling excessive rain. Therefore, we are witnessing floods,' Chandra Dake adds
Business
Latest technologies glamorize Gulf cosmetic industry
The UAE leads the region with adoption of developed regulations as technologies such as AI and VR have revolutionized the...
- The UAE leads the region with adoption of developed regulations as technologies such as AI and VR have revolutionized the diagnostics and treatments in the aesthetic sector
- The global market for AI in beauty and cosmetics is expected to grow from its 2021 value of US$ 2.7 billion to a whopping US$ 13.34 billion by 2030, a healthy CAGR of 19.7%
Business
UAE’s 10 largest banks reap second quarter windfall
Banks in the UAE held a 22.4 percent market share of the assets in the Arab banking sector, followed by...
- The A&M research investigates size, liquidity, income, operating efficiency, risk, profitability, and capital of financial institutions.
- A 19.5 percent rise in total interest income saw the banks post a net income growth of 24.4 percent.
Business
UAE tops MENA region in business, technology skills
The UAE -- rated 69th globally in technology skills and 67th in data science -- has a significant chance to...
- The UAE -- rated 69th globally in technology skills and 67th in data science -- has a significant chance to improve mastery of human cadres in achieving digital transformation
- Students in the UAE score an impressive 89% on a test measuring their knowledge of information security engineering, the "World Skills Report" published by Coursera highlights
GCC sets pace for global decarbonization efforts
The region is in decarbonizing the built environment, with a focus on sustainable urban planning, energy-efficient buildings, and renewable energy...
Economy
Company News
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Economic strain looms over Lebanon, Jordan, Egypt and GCC; Gaza escalation to affect Israeli economy too
A latest report by IIF highlights three possible outcomes from Gaza operations, each with profound implications for MENA economies and...
Geostrategy
UAE charges ahead in global electric vehicle readiness
The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride...
Business
AI revolutionizes real estate across GCC countries
Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler...
Business
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Business
Saudi industrial construction potential game-changer
The Kingdom is gearing up for a massive investment in industrial and mega projects, with plans to allocate $180 billion...
- The Kingdom is gearing up for a massive investment in industrial and mega projects, with plans to allocate $180 billion annually from 2025 to 2028, says a latest report.
- With projects like the high-tech NEOM city in the pipeline, the Kingdom is set on diversifying its economy and establishing itself as a leading tourist destination.
Business
KSA, Kuwait lead as Islamic banking prospers in GCC
With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the...
- With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the Gulf region has been commendable, says a report
- Despite challenges such as intricate transactions and the demand for universal standards, the potential of financial technology and green financing is immense, it adds
Business
KSA builds on MENA construction with $44bn contracts
Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in...
- Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector
- Future projections indicate growth, with Egypt's construction market expected to expand and Saudi's diversification efforts fueling further development