KSA beats economic challenges with non-oil revenue
Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
Economy
Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...
Business
Analysis
Metaverse: Opportunities vs challenges
New business models must be developed to take advantage of the metaverse's technology, says Fadi Kassatly, Partner, Enterprise Systems and...
- By 2026, about 25 percent of internet users would spend at least an hour a day in the metaverse and 30 percent of organizations would use it to distribute their products.
- Because of the metaverse, companies can now imagine new stakeholder engagements that include interactions and create value faster, realistically and with more significant impact.
Business
SMEs across GCC need more decentralized approach
The companies must also strive for more delegated authority and accountability as delays and poor follow-up lead to disaster, says...
- The firms must strive for more delegated authority and accountability as delays and poor follow-up lead to disaster, says Rabih I Khoury, Partner & Chief Exit Officer, MEVP
- Also needed is the use of technology to facilitate communication and digital processes implementation and leverage mature SaaS functionalities through mobile apps, he says
Business
SME development in Gulf region still in early stages
It is essential to know that the governments can't and shouldn't do everything independently to encourage their national talents. A...
- Local talents are in short supply in the region in terms of skills and experience, says Amr Khashoggi, Chairman at Amkest Group
- Due to COVID 19, many employees have got used to working out of home and are not keen on going back to trudging along to the office or factory
Business
UAE stocks shed gains as most GCC markets remain shut
In a week truncated by the Eid holidays across the Middle East, stocks on the UAE exchanges shed gains, while...
- UAE stock exchanges plummeted as the Dubai index lost more than 1% and Abu Dhabi index slipped 0.1% on Friday
- Before the Eid Al-Fitr holiday, the Saudi market index closed with gains of 4.9%
Business
UAE: Where sustainable shopping can be a way of life
If there is one country in the GCC where the idea of sustainable shopping can take off, it is the...
- what is sustainable shopping? It is a means in which you consume goods and services that considers the most efficient and beneficial options for all the species
- “Go green!” they say. “Shop green!” “Think green!” they say. The color green is associated with sustainability.
Analysis
Saudi real estate rides high on positive sentiment
Saudi Arabia's real estate sector continues to show promising signs, with increasing tourist numbers, consumers returning to retail stores, and...
- Q1 2022 saw an increase in the number of units built in Saudi Arabia's residential sector
- In Q1 2022, Saudi Arabia's house price index rose by 0.4 percent compared to Q1 2021
Analysis
Physical security adds to digital transformation
Cybercrime has risen to the forefront of physical security concerns. And big firms are acutely aware of the problem, says...
- Physical security has progressed from when it was viewed as merely a technique for responding to crime
- It now plays a more significant role as a critical component in the digital transformation of business processes
Business
GCC stock exchanges witness a mixed week
The main Saudi index had a variable week, the Abu Dhabi exchange suffered a slight decline, while, the main index...
- A 1.4% drop in Al-Rajhi Bank's stock and a 1.8% drop in Saudi National Bank's stock weighed on the TASI on Tuesday, causing a 0.3% drop
- On Friday, the Abu Dhabi index fell by 0.2%, with losses of 1.3% at First Abu Dhabi Bank capping off two sessions of gains
Business
Surging ecommerce boon for GCC businesses
A rising number of tech-savvy millennials, 60 percent of whom shop online, is one of the most important factors responsible...
- A meager $5.3 billion, or 0.4 percent of the GCC's GDP, was generated by e-commerce in 2015. By 2020, revenue had quadrupled to $21.6 billion.
- According to the Kearney Global Consultancy Firm, GCC e-commerce sales are expected to surge to $52 billion annually by 2025.
Ramadan brings $6bn windfall for MENA
The spending through the month of April has been widespread, including a broader increase in sales volume and a diversification...
- Saudi spending on travel, accommodation, and dining in restaurants rose by 37% in Ramadan 2022
- Consumers in the MENA are predicted to spend US$ 6.2 bn online during Ramadan in 2022
KSA beats economic challenges with non-oil revenue
Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
Economy
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Investigation
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...
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...
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...
Business
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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