UAE banks ride on growth, operational efficiencies
The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...
Business
UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...
Business
Interview
GCC retail electronics set for boost as buyers return
The retail electronics sector has proliferated in GCC countries, with demand rising not only due to the urge to own...
- In 2020, the global consumer electronics market was expected to generate revenues of $1.4 bn, with a CAGR of 4.6%
- The retail electronics market reached over $1 bn globally in 2022, and is expected to grow by 1.82% annually
Investigation
Solar switch may put off electricity crisis in Lebanon
Lebanon's energy industry sees a loss of up to $2bn every year as state treasury pays over $50bn in advances...
- Between $1.5bn and $2bn is lost in Lebanon's energy industry every year as state treasury pays over $50bn in advances to Electricité du Liban
- The country’s electrical network sees 3500 megawatts demand while only 2,000 megawatts is produced, says energy expert Ahmed Daher
Analysis
Weekly loss for UAE markets, amid contrast for TASI
Oil prices rose by more than 20 percent this week, due to ongoing concerns about supply disruptions and Russian output.
- The Saudi index ended its week on Thursday (March 10, 2022) down by 0.4%
- Abu Dhabi index finished the week with a loss of 0.3% on Friday (March 11, 2022)
Interview
F&B sector in GCC eyes greater sustainability
Tetra Pak Arabia Managing Director Niels Hougaard explains what lies ahead for F&B companies — bith regionally and globally —...
- Pollution and plastic litter in the ocean are the joint top environmental worry, while global warming is a close second
- GCC countries have launched several initiatives to educate consumers about recycling and sustainable consumption
Business
KSA, UAE lead GCC’s push for hydrogen economy
Striking partnerships with companies in the West have helped the two Gulf countries emerge as one of the major exporters...
- The business strategy stems from the belief that GCC has a plethora of renewable energy sources that can be tapped into to produce hydrogen
- Both the UAE and Saudi Arabia have access to natural gas supplies for blue hydrogen and nuclear power for pink hydrogen
Business
New UAE law boosts family business growth
Haoula considers it extremely important to sustain family businesses as a recognition for their efforts historically, and for the advantages...
- Corporate tax in the UAE is expected to be among the most competitive in the world, due to the 9% introductory rate and no tax for profits up to $102k
- Personal income that does not come from a licensed business or commercial activity in the UAE will not be subject to corporate tax
Business
High oil prices lift up Saudi and UAE indices
Thanks to a spike in crude oil prices pushed beyond $100 by the Russian-Ukraine conflict, the stock markets of Saudi...
- The Saudi index "TASI" rose by 2.6 percent and the Dubai index rose by 4.7 percent. The Abu Dhabi index achieved the highest increase by 7 percent monthly
- On February 28 the Abu Dhabi index experienced its highest one-session rise since December 6, climbing 2.2 percent
Economy
Rising inflation hobbles SMEs in Gulf countries
Diversifying, and strengthening local production structures is the most appropriate way to reduce inflation. Entrepreneurs and start-up companies may come...
- Increased inflation rates mean a rise in the supply chain, labor costs, and basic living costs, which result in more challenges for SMEs
- Diversifying, and strengthening local production structures is the most appropriate way to reduce inflation
Economy
Global and regional trade: The economic booster for GCC govts
The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may...
- With the rise in the price of crude oil, the economy of the region might receive a big boost, say experts
- Many experts also believe that inflation will not impact the regional trade between the GCC countries
Economy
How GCC nations can tame rising inflation?
Investing in inflation-protected bonds and gold may provide some hedge against consumer price rise. Putting money into the real estate...
- Inflation is more of a global phenomenon than a localized one since major central banks may have loosened policy during COVID-19.
- Since interest rates are already meager, company owners should handle the early stages of interest rate rises (probably until at least 2023-24).
UAE banks ride on growth, operational efficiencies
The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...
Business
Company News
Latest News
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...
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...
Economy
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,...
Interview
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Business
UAE leads world in mobile and omnichannel shopping
The UAE scored 134 on the Global Digital Shopping Index, exceeding the global average of 125, as 94% of adults...
- The UAE scored 134 on the Global Digital Shopping Index, exceeding the global average of 125, as 94% of adults in the country use digital shopping features, say a survey
- Free shipping, competitive prices, convenience remain key drivers of UAE's online shopping as merchants focus on improving digital experiences, fostering a cohesive ecosystem
Business
UAE tops MENA startup funding, followed by KSA, Egypt
MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's...
- MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round
- UAE startups garnered US$14 million without One Moto's contribution, while Saudi' Arabia's Foodtech Kaso clinched US$10.5 million in its Seed round
Business
Investor confidence fuels UAE’s real estate boom in Q2
Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition...
- Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition of 7,300 new units in the former and 1,000 in the latter
- Strong demand in Dubai and Abu Dhabi's office space market led to an 18% rent increase in Dubai and 11% in Abu Dhabi, says a report by Dubai Pulse digital platform