Here is why sovereign sukuk is a game changer
It presents a more cost-effective alternative to conventional sovereign bonds, particularly for governments with lower credit ratings, a report has...
Business
Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes,...
Economy
Business
KSA builds on MENA construction with $44bn contracts
Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in...
- Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector
- Future projections indicate growth, with Egypt's construction market expected to expand and Saudi's diversification efforts fueling further development
Business
Artificial intelligence key focus as GITEX 2023 begins
GITEX, Dubai's premier tech event, kicks off its 43rd "Technology Week" at the Dubai World Trade Center, spotlighting the latest...
- With each passing year, GITEX has consistently exceeded expectations, offering a glimpse into the next frontier of technological evolution
- The event also supports technology startups and displays the latest inventions and advanced innovations in information technology from various parts of the world
Economy
Dubai becomes haven for firms of all sizes
Dubai's fintech expansion, the enticing Golden Visa program, competitive tax structures, a talented workforce, and a robust real estate sector...
- Strategic location, innovative free zones, and business-friendly policies help Dubai beckon global entrepreneurs, startups, and financial giants to be part of its journey
- Fintech growth, the Golden Visa program, competitive tax rates, a skilled workforce, and a thriving real estate market increase the emirate's global appeal
Geostrategy
Middle East emerges as a global esports powerhouse
The Middle Eastern region, led by Saudi Arabia and the UAE, is swiftly becoming a global esports hub, driven by...
- The Middle Eastern region, led by Saudi Arabia and the UAE, is swiftly becoming a global esports hub, driven by its vast gamer community and strategic investments
- The region's esports growth transcends gaming, with stakeholders from elite teams to media firms collaboratively shaping the region's live entertainment future
Business
Dubai emerges as global hotspot for startup innovation
The emirate has transformed into a hub of entrepreneurship and ingenuity over the years. Renowned for its ambitious vision and...
- From being a trading post to its current status as a tech and green business center, the emirate offers boundless opportunities, especially for those with pioneering spirit
- Dubai, with its strategic location, serves as a global gateway for businesses, bolstered by progressive leadership and initiatives like the Dubai Future Accelerators
Economy
Saudi non-oil GDP growth to be strong despite oil cuts
Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a...
- Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report
- The World Bank, meanwhile, revises the Kingdom's growth forecast, highlighting challenges in the broader MENA region due to global financial conditions and inflation
Business
GCC’s digital leadership puts focus on cybersecurity
As GCC leads in digital innovations, there's an urgent need for strong cybersecurity to combat increasingly complex threats targeting governments,...
- As GCC leads in digital innovations, there's an urgent need for strong cybersecurity to combat increasingly complex threats targeting governments, businesses, and individuals
- Emad Fahmy of NETSCOUT sheds light on the evolving cyber threats and the importance of a holistic approach to digital transformation, advising ways to safeguard digital frontiers
Business
Fintech innovations reshape GCC’s banking landscape
The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is drawing global focus, heralding the...
- The GCC countries are rapidly emerging as a leading fintech hub, revolutionizing traditional banking and financial services across the region
- The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is heralding the future of financial services
Business
Growing IT outlays intensify MENA’s transformation
The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...
- The region's IT spending is projected to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth
- This surge aligns with the MENA region's push for digital transformation, enhanced cybersecurity, and a focus on generative AI initiatives
Business
UAE, KSA lead the way in Islamic fintech innovation
Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand...
- Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand and favorable regulations, predicts Moody's
- Gulf's Shari'ah-compliant banks, led by Saudi Arabia at 83% market share, are expected to outpace traditional banks through 2024, with Bahrain following at 69%
Here is why sovereign sukuk is a game changer
It presents a more cost-effective alternative to conventional sovereign bonds, particularly for governments with lower credit ratings, a report has...
Business
Company News
Latest News
UAE banks ride on growth, operational efficiencies
The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...
Business
MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...
Business
Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...
Business
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Business
MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
- In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed by Egypt's recovery and Saudi Arabia's steady input.
- Last month's funding spotlighted travel, fintech, health, and mobility sectors, with Pre-Seed and Seed stages leading, underscoring strong support for early-stage startups.
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...
- With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far surpassing the global average, say a report.
- AI and machine learning are viewed by UAE tech leaders as pivotal for reaching short-term objectives, outpacing the perceived utility of the metaverse, it adds.
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...
- The industrial sector will contribute up to $1trillion annually to the GDP of the region
- Many experts estimate the sector can generate up to 15 million jobs in the next decade