MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...
Business
In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but...
Business
Sukuks cast their spell beyond GCC markets
The total green sukuk market is worth more than US$15 billion, according to Refitiniv, with the Islamic Development Bank (IsDB)...
- The Sukuk market continued to grow in 2021 due to new procedures put in place to improve standardization while more competitors entered the industry
- A $100 million Sukuk fund was announced by GFH Financial Group (GFH) in February 2022
Economy
Russia-Ukraine conflict: GCC can fill the energy gap
The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil...
- The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil flows from Russia, according to the Institute of International Finance
- The brent oil prices surged to US$100 per barrel for the first time in eight years after Russia attacked Ukraine
Economy
Financial corruption hinders Gulf economic model
Beside Covid-19 pandemic, many countries in the region face war and conflicts. A robust economic system necessitates an effective strategy...
- Many Middle Eastern countries face rampant political corruption and the recycling of corrupt positions, says Transparency International
- The UAE is considered the least corrupt Arab country in 2021; however, its score decreased by 2 points from 2020, according to the "Corruption Perceptions Index 2021"
Analysis
Covid-19 shakes up GCC’s in-demand job profiles
Now, the fastest-growing job profiles in the GCC include a mix of both pandemic-resultant and non-pandemic-resultant positions.
- Traditional jobs such as healthcare personnel and core corporate operations are still in high demand around the world
- Employment rates in the Gulf region have risen by 40% annually, thanks to the UAE and Saudi Arabia
Business
Cloud tech gains strength in GCC
Cloud market in UAE is at emerging stage and is likely to witness rapid growth in the coming years due...
- Cloud market in UAE is at emerging stage and is likely to witness rapid growth in the coming years due to high adoption rate among SME’s and the digital transformation agenda.
- Saudi Arabia represents a significant revenue opportunity for cloud providers as times change and network connectivity becomes an inevitable necessity for businesses
Business
Plastic surgery enhances face of UAE medical tourism
The industry, stabilized significantly with experienced surgeons and the availability of good facilities, woo a sizable number of foreign clients...
- The prices in well-equipped clinics and hospitals in the UAE are at the same level as in other countries, said Dr Timm Wolter, a plastic surgeon at the Nova Clinic, Dubai.
- Body contouring, liposuction, and fat transfer have been trending for some time now in the emirates.
Analysis
UAE indices witness a great week
The Saudi Stock Exchange’s main index TASI started and ended the week with a 0.5 percent rise despite the fluctuation.
- Al-Rajhi Bank and Riyad Bank led the Saudi index higher on Sunday as both saw their shares rise by 0.5 percent
- TASI continued to fall on Wednesday, as it offset losses in the financial sector with increases in the telecommunications industry
Business
Gulf insurance set to cross $31bn mark by 2026
The market is expected to grow at an annualized growth rate of 3.2 percent, from $26.5 billion in 2021 to...
- UAE's GWP share is predicted to rise at a CAGR of 4.1% between 2021 and 2026
- A CAGR of 1.6% is predicted for Saudi Arabia thanks to Vision 2030 infrastructure plans
Interview
GCC tech markets yet to recover from Covid-19
It's time to review demand generation plans as Covid-19 is still posing challenges for the regional markets, says Michele Montecchio,...
- Acer believes all features that facilitate remote working such as HD cameras and high quality microphones would be more important assets in 2022.
- The company plans to upgrade the entire Acer line-up with the latest CPU generations from both Intel and AMD this year.
Analysis
Saudi, UAE indices fluctuate through the week
From oil prices to company stocks buoyed by positive results, several factors resulted in changes in key benchmark indices.
- Emaar Properties’ 1.7 percent share price reduction weighed on the index on Tuesday as it fell 1 percent
- With the Commercial Bank of Dubai up 8.4 percent and Emirates NBD Bank up 0.8 percent, the Dubai index recovered previous losses
MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...
Business
Company News
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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,...
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...
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...
Business
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Business
Trust for cryptocurrencies, CBDCs grows in MENA
Favoring CBDCs for efficiency, convenience, and security, 63% of MENA residents believe central banks should introduce them, and 73% are...
- Favoring CBDCs for efficiency, convenience, and security, 63% of MENA residents believe central banks should introduce them, and 73% are ready to use them, says a survey
- UAE has emerged as a regional hub as GCC countries differ in cryptocurrency regulation, adds the CFA Institute survey, seeking engagement for successful CBDC implementation
Binance allegations stir up Middle East crypto market
Amidst the escalating crackdown on key cryptocurrency players, the Middle East is emerging as a potential beneficiary and a new...
- Amidst the escalating crackdown on key cryptocurrency players, the Middle East is emerging as a potential beneficiary and a new frontier for the crypto industry
- Bahraini cryptocurrency firm Rain comes to the UAE, while Coinbase CEO's UAE visit hints at potential expansion. Zurich's Julius Baer is also eyeing Middle East
Business
Thriving businesses elevate UAE’s position globally
The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as...
- The Gulf country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups
- Jordan, Saudi Arabia, Qatar, Kuwait, Oman, and Lebanon debut on the Kearney's 2023 GSLI, while Egypt's ranking has dropped due to rising labor costs and digital focus deficit