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
GCC retail pins hope on customer loyalty programs
Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...
Business
Business
Saudi PIF aims to invest $1.1 trillion by 2025
The Public Investment Fund, which seeks to lessen the Kingdom's reliance on oil as part of Vision 2030, eyes both...
- PIF owns a 62.72 percent stake in Lucid Electric Vehicles Company, which has a current market value of $71 billion
- More than 331,000 people in Saudi Arabia have found work due to the Fund establishing 26 local businesses and assets
Business
Saudi index falls significantly while UAE market diverges
Stock exchanges in the GCC region saw quite a few ups and downs this week.
- The Saudi index faced a significant fall this week, the first since October 2020, due to military struggles with Yemen
- With Al-Rajhi Bank missing 4.5 percent and Saudi Arabian National Bank dropping 3.7 percent, the Saudi index fell 2.7 percent on Monday
Business
Meta launches MENA campaign against child abuse
In the eye of the storm of allegations that it did not act against child abuse, Meta said the campaign...
- Facebook and Instagram’s parent Meta has launched the “Report it, Don’t Share it” campaign in the MENA region
- In the eye of the storm of allegations that it did not act against child abuse and exploitation, Meta said the campaign will prevent exactly those things
Market Report
Dubai Index surges 80 percent, Saudi losses continue
Dubai index outperformed GCC peers, following the emirate's announcement of plans to open a $545 million market-making fund and IPOs...
- As of Thursday, Abu Dhabi's main index increased by 0.1 percent, aided by a 2.4 percent increase in Alpha Abu Dhabi Holding.
- Saudi index lost for the third consecutive week and Abu Dhabi was largely stable.
Business
Riyadh Season casts its spell on GCC
So far more than two million visitors have marked their presence in the five-month long arts and culture festival.
- From young and old, men and women, all have trooped into the area to partake of music, sports, cars, business, agriculture, and many more events
- Live concerts featured many regional and international singers like Kazem Al Saher, Angham, Elissa and many more that can interest children, families, and youth as well
Economy
Morocco leads the Arab world in economic growth
An unemployment rate of more than 11 percent and the crisis impact on entrepreneurs and startups major concerns in the...
- Saudi Arabia's economy will grow 2.8 percent, and the United Arab Emirates by 2.2 percent, Qatar by 1.9 percent, and Kuwait by 0.9 percent.
- Morocco received $3 billion from the IMF in 2020, which enhanced its liquidity and pushed multiple sectors of the local market.
Interview
GCC countries warm up to cloud kitchens
Mubarak Jaffar, CEO of the cloud-kitchen firm KLC company, tells TRENDS how virtual kitchens are feeding a growing demand.
- A virtual or cloud kitchen simply hosts virtual brands that don’t have a store
- The kitchen itself doesn’t provide dining services — only delivery — and in some cases takeaway
Economy
Crude fact: GCC set for big gains from high oil prices
In oil exporting countries, the fiscal deficits in 2020 will be replaced by large surpluses in 2021 and 2022, mainly...
- As oil prices rise, the oil-exporting countries in the MENA region - Saudi Arabia, the UAE, Kuwait, Qatar, Oman, Bahrain, Algeria, Iraq, Iran, and Libya - are likely to gain
- A rise in energy prices increases current account surpluses in Saudi Arabia by US$ 28.3 billion, in Iraq by US$ 11.6 billion, and in the United Arab Emirates by US$ 11 billion
Economy
Saudi Arabia consistent on pension index
The Kingdom ranks 26 in the Mercer Institute Global Pension Index 2021 for the fourth year in a row, with...
- Saudi Arabia was ranked 26 in the Mercer Institute Global Pension Index 2021 for the fourth year in a row, with a total of 58.1 points, up from 57.5 last year.
- The report also identifies several key areas that require development in the country's pension system such as increasing the minimum support provided to the poorest individuals
Business
This week, Gulf markets closed on a high
Stock markets in the Arab region were mostly in the green in the week gone by.
- After falling by 0.79 percent, the Saudi Stock Exchange closed at 11,753.18 points on Tuesday, losing 93.35 points
- On Thursday, the Dubai index outperformed the rest of the Gulf markets, closing on a positive note for the fifth consecutive week
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
Company News
Latest News
Middle East tackles AI hurdles, embraces opportunities
The region, rich in history and culture, is expected to accumulate substantial global AI benefits, reshaping its traditional sectors and...
Business
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...
Economy
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...
Business
Most Read
Investigation
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
- Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
- While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Economy
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
- Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
- While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Business
AI helps KSA rule Global Government Strategy Index
Saudi Arabia's impressive performance in the 2023 Global AI Index is attributed to its comprehensive National Strategy for AI and...
- Saudi Arabia's impressive performance in the 2023 Global AI Index is attributed to its comprehensive National Strategy for AI and dedicated government agency
- Germany ranks second, while China takes third spot in the Tortoise Intelligence's Government Strategy Index for AI that evaluates 100 criteria across seven indicators