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
At 10% growth, Saudi banking sector shows resilience
With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical...
Business
Economy
2021: Oil price hike rescues Covid-hit GCC economy
International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the...
- International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the end of November 2021, the highest level since October 2014
- Increased demand from major oil consumers like China, South Korea, India, and the European Union was responsible for the rise.
Market Report
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.
- The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020
- Saudi index gained 0.6 percent on Thursday backed by a 0.9 percent rise in Al-Rajhi Bank
Economy
Abu Dhabi National Aquarium is the largest in Mideast
An estimated one million people a year are expected to visit the aquarium housing marine animals in ten distinct habitats...
- An estimated one million people a year are expected to visit the aquarium housing marine animals in ten distinct habitats under the supervision of marine life experts
- The aquarium offers many interactive activities, including scuba diving, animal feeding, and glass-bottomed sailing boat tours
Business
New Dubai adventure: Eco-friendly surfing
What makes Dubai a tourist hub and an essential market for sustainable surfing is the region’s proximity to the sea?...
- What makes Dubai a tourist hub and an important market for sustainable surfing is the region’s proximity to the sea
- Artificial surfing has now takers in countries like Saudi Arabia, Oman, Qatar, and Egypt which also boast of a strong community of surfers
Business
Saudi index shines, UAE stocks ripple
Global cues and local developments could not dampen the overall improvement.
- For Tuesday's eleventh consecutive trading day (December 14, 2021), the Dubai Stock Exchange index increased 0.9 percent.
- A 2.3 percent loss in First Abu Dhabi Bank's share on Monday (December 13, 2021) dragged down the index by 0.4 percent.
Interview
Jordan eyes investments with ICT growth
Investment opportunities also exist in IT solutions for Jordan's financial sector and enterprise solutions and emerging applications. In addition, Jordan...
- Jordan's ICT sector generates 75 percent of the region’s Arabic internet content
- Jordan offers a competitive proposition for investment in content applications and e-learning with fairly priced broadband internet tariffs
Business
Binance may move to Dubai as part of crypto deal
TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of...
- TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of the firm that is based in Seychelles.
- Dubai is competing with Singapore, Switzerland, and other countries to become a worldwide hub for digital currency by developing a crypto-currency free-trade zone
Geostrategy
Rules to obtain a Saudi passport, explained
Holders of Saudi passports can travel to up to 34 countries without a visa, and may obtain a visa at...
- Applicants must get at least 23 points to be considered for the Saudi citizenship
- Resident for 10 consecutive years in Saudi Arabia are eligible to apply for the passport
Business
Saudi markets rocky, Abu Dhabi index loses ground
The Saudi and Abu Dhabi indices saw a choppy week, while the Dubai markets saw some good gains.
- Aramco's share price dropped by 9 percent, as the Saudi index fell by 0.5 percent on Thursday
- The Abu Dhabi index slipped 0.2 percent on Tuesday, down from a record high
Interview
Marka Group’s bankruptcy a lesson for GCC firms?
Barry Greenberg, Of Counsel at BSA Ahmad Bin Hezeem & Associated, breaks down what a landmark bankruptcy ruling means for...
- The Marka Group ruling has brought into sharp focus the bankruptcy laws prevalent in the GCC countries in general and the UAE in particular
- They have also spurred calls for reform in the local bankruptcy laws, so that investors or the company don’t lose value
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
Company News
Latest News
UAE leads the charge in GCC’s electric vehicle market
Despite making up just over 1% of the UAE car market, EV popularity is growing, with plans to boost the...
Business
More Arab youth prefer entrepreneurship over govt job
Almost half of Arab youth are keen on starting their own businesses in the next five years, signaling a significant...
Economy
GCC becomes safe haven for expats amid uncertainty
While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security...
Economy
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Economy
Saudi Arabia harnesses technology to boost tourism sector
VR and AR technologies offer tourists pre-visit virtual explorations of cultural and natural sites, driving engagement and anticipation. Onsite, the...
- Technologies such as Virtual Reality, Augmented Reality, E-visas, and e-payment systems are enhancing the tourist experience in the Kingdom, say experts
- NEOM, which epitomizes Saudi Arabia's innovative approach, is set to become a global showcase of advanced design and digital experiences, they add
Business
Arabs play huge role as Threads challenges Twitter’s dominance in social media space with rapid growth
The new app developed by Meta has attracted more than 100 million users just five days after its debut, indicating...
- The new app developed by Meta has attracted more than 100 million users just five days after its debut, indicating its potential to compete with Twitter
- However, the number of new sign-ups does not necessarily indicate active use or a complete shift from Twitter as Threads is still under development
Economy
Rise in unemployment affects Saudi women the most
The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by...
- The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by a notable increase among women to 15.7%, according to an official report
- In Q1, Saudi Arabia witnessed a 0.5% drop in youth unemployment, while joblessness among those aged 25-54 rose to 7.8%, adds the report of Saudi General Authority for Statistics