Search Site

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

UAE and Saudi to lead GCC e-commerce boom

  • E-commerce in the GCC, according to a recent research report, has expanded by 22 percent over the previous two years.
  • Over 46 percent of online buyers in Saudi Arabia and the UAE planning to continue relying on online retail stores rather than visiting shopping malls.

Dubai, UAE — E-commerce in the GCC, according to a recent research report, has expanded by 22 percent over the previous two years, with over 46 percent of online buyers in Saudi Arabia and the UAE planning to continue relying on online retail stores rather than visiting shopping malls.

Amazon indicated that Saudi Arabia and the UAE lead e-retail sales in the GCC. At the same time, Egypt plays a pivotal role in the success of the sector in the African continent.

According to the Boston Consulting Group (BCG) report, “Global Payments 2022: The New Growth Game,” GCC countries will also witness a decrease in non-digital payments.

The UAE will likely remain the top e-commerce market in the Gulf Cooperation Council (GCC) in 2023, but Saudi Arabia represents the largest potential growth over the medium and long term.

TRENDS takes a look at the prospect of e-commerce in GCC: