Saudi real estate sees new era of growth, innovation
The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...
Business
MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
Business
Business
UAE and Saudi stocks post gains this week
The UAE and Saudi stock markets posted considerable gains this week even as oil prices took a dip with the...
- TASI rose 15.7 percent during the first quarter of 2022
- Abu Dhabi index rose 17.2% over this quarter while the Dubai index grew by more than 10%
Business
GCC pharma industry: Leaders and innovators
GCC countries have a highly dynamic environment characterized by growing populations, a broad diversity of patient demands and increasing healthcare...
- The number of drug factories in the UAE has risen from four in 2010 to 23 in 2021, while its drug market is expected to grow up to $4.7 bn in 2025.
- More than $400m worth of Saudi pharmaceuticals are exported each year. The kingdom aims to double the percentage of local pharma manufacturers.
Interview
Smartphones, net speed fuel Saudi ecommerce boom
Pablo Martinez, Managing Director and Senior Partner at the Boston Consulting Group, sheds light on what lies ahead for the...
- In 2020, the Saudi ecommerce accounted for only 6% of overall retail sales, while major markets contributed 18%
- Only a small set of online retailers in influential cities of the kingdom offers same-day delivery, a standard in developed markets
Economy
Metaverse set to transform banking in GCC
Regional players eye big share as Metaverse is expected to become a US$800 billion market. Some analysts believe it will...
- Metaverse is expected to become a US$800 billion market -although some analysts think it will reach $30 trillion
- The use of Metaverse in banking may lead to the emergence of fully digital bank branches, reducing or even eliminating the need for physical ones
Business
Aramco lifts TASI as UAE stocks see weekly gain
The Abu Dhabi Stock Exchange achieved weekly gains of 1.7 percent, while that for the Dubai stock exchange was 1.9...
- The Abu Dhabi index closed up by 0.2% on Thursday; and 0.3% on Friday
- TASI remained unchanged on Thursday, as losses in financial businesses canceled out the gains
Business
Sustainability key challenge for UAE realty players
It is hard to balance sustainable developments and what people want in the market, especially when it comes to pricing,...
- Designing a building, putting up construction plans in terms of materials until the demolition are responsibilities of a sustainable property developer
- The real estate market in Dubai had a 65 percent increase in the number of transactions and a 71 percent increase in value in 2021.
Economy
New UAE app predicts which cheque will bounce
ChequeScore is an app released by the UAE government-owned Al Etihad Credit Bureau, and can predict the possibility of a...
- The UAE issued 21 million cheques in 2021, with an average value of $13,900
- Despite the recent decriminalization of cheque bounces, UAE businesses must still consider the risks connected with them
Business
After a week of losses, GCC indices post gains
After a week of losses, the Saudi index posted 0.9 percent increase even as the uncertainty spurred by the Ukraine...
- The shares of Etihad Etisalat (Mobily) jumped 9.9 percent after the Emirates Telecom Group submitted an offer to increase its stake
- Amlak Finance fell by about 10 percent, while Emirates NBD Bank fell by 3.7 percent
Economy
Security eyed as more Arab nations adopt epassports
Arab countries that offer electronic passports include Saudi Arabia, UAE, Qatar, Oman, Lebanon, Algeria, Kuwait, Morocco, Comoros, Djibouti, Mauritania, Somalia...
- Arab countries that offer electronic passports include Saudi Arabia, UAE, Qatar, Oman, Lebanon, Algeria, Kuwait, Morocco, Comoros, Djibouti, Mauritania, Somalia and Sudan
- Countries in the region that don't have a microchip in their passports include Bahrain, Egypt, Iraq, Jordan, Libya, the Palestinian territories, Syria, Tunisia and Yemen
Analysis
GCC looks to ease fiscal burden with privatization
The privatization move will also help the regional governments in maintaining better economic growth, increasing private participation and attracting foreign...
- Planning, executing, and concluding are the three primary stages of privatization
- The privatization process in Kuwait will expand to 38 government institutions and activities
Saudi real estate sees new era of growth, innovation
The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...
Business
Company News
Latest News
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...
Business
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...
Economy
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.
Business
Most Read
Economy
Saudi Arabia’s output cut stabilizes global oil market
The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent...
- The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent oil prices from dropping significantly
- Reducing production may not suffice if demand falls. However, diversifying the economy beyond oil is likely to benefit all sectors by mitigating risks, says a market expert
Interview
Challenges prevail as UAE adapts to remote work
The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries,...
- The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Doherty of Connect Resources tells TRENDS
- The UAE government has granted ministries and federal entities the flexibility to implement the remote work system for federal government employees on some working days
Business
Industrial metaverse eyes $1trn with output boost
The latest technology is poised to transform the industrial sector, with a market expected to reach $400 billion by 2030,...
- Industrial metaverse is poised to transform the industrial sector, with a market expected to reach $400 billion by 2030, potentially exceeding $1 trillion, says a report
- The new technology integrates digital and physical processes to improve productivity, enabling real-time cooperation and connectivity in industrial environments, it adds