Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...
GCC emerges as a cryptocurrency investment hub
Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...
Business
Analysis
New trends drive Arab automotive growth
From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries...
- Saudi imports of cars grew from 544,000 in 2020 to over 546,000 in 2021
- Around 28% of those polled in the UAE said they prefer to buy a used car online
Business
UAE and KSA stock markets remain flat this week
Against the backdrop of mounting concerns about the supply of crude oil, the stock markets in Saudi Arabia and the...
- The Saudi Tadawul stock exchange ended the week with a loss, after a three-week period of considerable gains in the month of April
- Aramex's stock helped the Dubai index end the week with high results, while crude oil prices dragged down the gains in Abu Dhabi
Analysis
UAE hotel industry basks in festive Ramadan spirit
Now, hotel bookings will rise for Eid Al-Fitr, with Gulf markets predicted to see a considerable spike in travel bookings...
- Hotel room prices decreased after the end of Expo 2020, with rates starting at around US$50 per night in the UAE
- A handful of hotels achieved occupancy levels of more than 70 percent due to factors like the return of events, conferences, and exhibits
Analysis
GCC exchanges recoup their losses
From the UAE to Saudi Arabia, the main indexes made up for their losses as the week came to a...
- The Abu Dhabi index fell 1.3 percent on Thursday, its biggest daily fall in more than a month
- The Dubai index on Monday climbed 1.3 percent to its highest in the previous two weeks
Economy
Demand surges as Ramadan returns
The shopping behavior has changed a lot in the region in past two years as consumers are looking for promotions...
- Various businesses -- particularly related to food, apparel and household products -- are witnessing surge in demand
- Consumers are spending more on cross-border goods during Ramadan this year as COVID-19 curbs have eased
Interview
Sustainability drives region’s luxury car demand
UAE, Saudi Arabia and Kuwait are the three top performing GCC markets when it comes to appetite for high-end cars,...
- Car industry in the region is stepping up technological advancement and accelerating the transition to sustainable mobility
- The popularity of electric automobiles increased during the COVID-19 due to government, bank, and car dealer incentives
Business
Spurred by higher oil prices, GCC indices post gains this week
The GCC's main indices closed higher toward the end of week, spurred by higher oil prices. The Saudi index "TASI"...
- The Saudi index "TASI" reached 13,314 points, achieving an increase of 0.4 percent on Thursday, its last trading day
- the Dubai index increased by 0.2 percent during the week as the sentiment cooled
Business
UAE stock markets gain almost $6bn in first week of Ramadan
The two bourses have been adhering to the Monday-to-Friday workweek — the norm across most of the world — since...
- The ADX broke the 10,000-point barrier for the first time amidst increased demand for IHC's Apex National Investment
- The DFM advanced 0.74 percent to 3,541.6 points following 5,251 transactions worth AED520.5 million ($141.73 million)
Business
Tech savvy UAE becomes Arab world’s digital hot spot
The UAE has earned a unique distinction of becoming the only Arab country to be propelled into the premier club...
- UAE is considered one of the world's most attractive countries for digital talent, while Dubai and Abu Dhabi are both listed in the top 10 cities for digital talent
- The UAE has been named the second most attractive place to relocate to work in the digital sector in a latest survey by Boston Consulting Group
Business
Saudi Arabia, UAE woo major chunk of FDI in GCC
As foreign investors seek to take advantage of investment opportunities in the region, KSA and UAE get billions of dollars...
- The foreign direct investment flows in the UAE increased 3.9% to $20.7bn in 2021
- The total investment in Saudi Arabia by overseas investors rose by 257 percent last year to $19.3 bn
Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...
Company News
Egyptians caught in devastating economic storm
Investigation
Latest News
COP28 to boost climate resilience and agri innovation
Chaired by UAE Envoy for Climate Change Sultan Al Jaber, the global climate summit will focus on a four-pillar strategy...
Geostrategy
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
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...
Business
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Economy
Celebrating their success, UAE observes women’s day
Women entrepreneurs in the UAE succeed in breaking the barriers, distinguishing themselves in diverse fields, enabled along the way by...
- The theme for the day was chosen to align with the UAE President Sheikh Mohamed bin Zayed Al Nahyan's proclamation that 2023 will be the "Year of Sustainability"
- Women in the UAE have been able to break through barriers and take on prominent roles in the corporate world largelydue to the country's women-empowerment legislation
Business
More Middle Eastern firms embrace Responsible AI
A significant 16% of Middle Eastern organizations have fully implemented Responsible AI policies and processes, a latest report highlights.
- A significant 16% of Middle Eastern organizations have fully implemented Responsible AI policies and processes, a latest report highlights
- With AI-related risks on the rise and the regulatory environment in flux, the onus is on businesses to navigate this terrain with agility
Economy
Space Economy: Saudi Arabia targets stars and beyond
From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is...
- From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is making significant strides in the space sector
- With challenges ahead, the nation's goal is to localize knowledge, foster capabilities, and create a sustainable space ecosystem to secure key position in space economy