In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...
Economy
Innovation, expansion spur Gulf retail after pandemic
GCC retail sector evolves dynamically, blending innovation with tradition to woo investment, says Khalifa Bin Braik of Majid Al Futtaim...
Business
Economy
Deficit to surplus: GCC economies on growth track
The combined current account balance of oil exporters in the GCC region is likely to shift from a deficit of...
- UAE economy is expected to grow by 2.2 percent in 2021 and by 4.9 percent in 2022, supported by tourism, oil prices recovery and Expo 2020 activities.
- Saudi Arabia's real GDP growth fell 4.1 in 2020 and is expected to increase to 1.9 percent this year and 4.8 percent in 2022.
Business
Saudi and UAE stock markets rebound
The Saudi and UAE bourses saw quite some ups and downs in the week that began on Sunday, October 10.
- The Saudi index started the week dropping 0.2 percent and closed the week increasing 0.64 percent
- Financial-sector stocks helped Dubai and Abu Dhabi indices end the week up 0.01 percent and 0.33 percent, respectively
Business
Is Binance moving headquarters to Dubai?
The world’s largest cryptocurrency exchange recently registered three companies in Ireland and is currently setting up several regulatory companies worldwide....
- Binance CEO Changpeng Zhao, according to sources, may move the operations of the world’s largest cryptocurrency exchange from Seychelles to the UAE city.
- The cryptocurrency exchange is banned by several governments, while other countries are open to investigations into allegations such as market manipulation
Investigation
Have Pandora papers jeopardized Lebanon aid?
The country is already reeling under the impact of its worst-ever economic crisis, shutting down of power stations due to...
- Offshore companies are legal and were established to reduce the tax burden on some companies that require foreign branches.
- Lebanon was first in terms of registering individual companies in tax havens, with nearly 3 million papers leaked.
Business
High oil prices lift Saudi index to 14-year high
The main Saudi stock index closed trading on October 7, with an increase of 19.45 points, to close at the...
- The next day, the Saudi index increased 0.1 percent, with Al-Rajhi Bank rising 1.6 percent and the Saudi National Bank rising 2.5 percent due to stable oil prices
- The rise in oil prices drove the Saudi stock market to its highest level in 14 years
Market Report
Rise in oil prices gives strength to Gulf markets
The Muscat Stock Exchange closed on Wednesday, up 0.17%, or 6.9 points, from the previous trading session, which amounted to...
- International Monetary Fund expects Oman's economy to recover and grow by 2.5 percent by the end of 2021
- Oman has run a US$ 2.3 bn budget deficit since the start of 2021 due to low oil prices and a drop in oil production
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...
Economy
Company News
Latest News
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...
Business
51% techies satisfied with their pay in Middle East
Middle Eastern technology professionals are more open to office-based roles than their counterparts in Central Eastern Europe, Southern Europe, and...
Economy
UAE tops MENA region in overall skill proficiency
Learners across the country excel in business skills, communication, leadership, management, and human resources skills, Coursera's latest Global Skills Report...
Business
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Business
Extended reality: XR tech transforms GCC businesses
XR technologies -- encompassing AR, VR, and MR -- are rapidly gaining traction across diverse sectors in the Gulf region,...
- XR technologies -- encompassing AR, VR, and MR -- are rapidly gaining traction across diverse sectors in the Gulf region, including academic, entertainment, and gaming
- The new XR technologies are also reshaping retail and remote work, blurring the lines between the virtual and physical realms, says Raed Mikail, Founder and CEO of AVR Labs
Business
VR, AI help executive education flourish across GCC
Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD,...
- Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD, tells TRENDS.
- Amidst rapid technological changes, business education plays a pivotal role in equipping leaders and fostering a culture of continuous learning, adds Zemsky
Business
Crisis hits investments in MENA startups
While the startup ecosystem flourishes in the Middle East and North Africa region, concerns arise over the durability of investments...
- Despite a 20% drop in venture capital investments in Q1 2023, the startup ecosystem in the Middle East and North Africa region remains resilient, say experts
- Concerns over the sustainability of investments and banks' ability to support SMEs have arisen amid the ongoing global banking crisis, they add