Web Summit Qatar 2026 in Doha draws 30,000 participants, global tech leaders
The summit features a high-profile lineup of speakers, including Canva co-founder Cliff Obrecht, IBM Chief Impact Officer Justina Nixon-Saintil, Twitch...
WEF26: Saudi Arabia positions itself as ‘connector economy’ amid shifting global trade
Saudi Arabia is seeking to leverage changes in global trade and supply chains to position itself as a “connector economy,”...
Economy
Business
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
- In 2023, Saudi Arabia set up four new special economic zones, with incentives for international companies to operate within the kingdom
- SEZs are seen as catalysts for economic diversification, which offer platforms for innovation, entrepreneurship, and investment in non-oil sectors
Economy
Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
- The housing program, which implements over 15 development initiatives and programs, successfully increased Saudi families' homeownership rate to more than 60% by 2023
- It also accomplished over 165,000 housing units and plans to provide 365,000 housing units over the next few years, with 95,000 units going to the most vulnerable families by 2025
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
- The growth will largely be due to space-based and -enabled technologies, such as communications positioning, navigation and timing.
- Space technologies are delivering greater value to a more diverse set of stakeholders than ever before, including in industries as varied as food and beverage, among others.
Economy
MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.
- MENA companies, particularly those in the IT, banking, finance, real estate, construction, energy, and hospitality sectors, actively embrace agile workforce models
- Emerging trends like Environmental, Social, and Governance (ESG) initiatives, data analytics, and procurement are expected to fuel the demand for local and international talent
Business
Innovation, flexibility fuel GCC remote work growth
The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.
- Oman and Kuwait are more cautious due to infrastructure limitations and traditional work cultures.
- Saudi Arabia's Vision 2030, aimed at diversifying economy, emphasizes remote work for economic development.
Business
MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...
- The gender gap in the MENA startup ecosystem remains a pressing issue. Male-founded startups secured nearly 90 percent of the deals.
- March 2024 wasn't just about investments. The month witnessed several noteworthy mergers and acquisitions (M&A) deals.
Economy
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
- The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign institutions and banks
- Consideration will be given to the credit rating of each bank in this process
Economy
Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
- New investments surged by 63 percent, with 891 local and foreign investments secured.
- The number of factories rose to 6,443, alongside 7,946 industrial, logistical, and investment facilities
Economy
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,...
- Flowwow has observed a 65% rise in online purchases from local UAE brands in March 2024 compared to last year
- The preference extends to cosmetics and fragrances, with a notable rise in demand for handmade varieties
Economy
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
- The Foreign Direct Investment Confidence Index,, now in its 26th iteration, continues to be an authoritative forecast of global FDI trends
- The UAE economy has witnessed extraordinary growth across key sectors that have thrived as a direct result of the nation’s diversification policies
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Web Summit Qatar 2026 in Doha draws 30,000 participants, global tech leaders
The summit features a high-profile lineup of speakers, including Canva co-founder Cliff Obrecht, IBM Chief Impact Officer Justina Nixon-Saintil, Twitch...
Company News
Latest News
AI helps UK woman rediscover lost voice after 25 years
London, United Kingdom -- A British woman suffering from motor neuron disease who lost her ability to speak is once...
Science
Less tax, more luxury: millionaires flock to Dubai for its zero income tax policy
Rich people are flocking to Dubai in record numbers, drawn to the desert city by its zero income tax policy...
Economy
Google to provide Gemini AI tools to US government
Google will provide its Gemini artificial intelligence tools to US federal agencies practically free, the government announced Thursday.
Science
Most Read
Economy
Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
- The value of disposable national income (available for consumption and savings after deducting taxes and other transfers) amounted to US$1.989 trillion.
- The data indicate that the contribution of the non-oil sector to the GCC’s Gross Domestic Product (GDP) at current prices rose to 71.5 percent by the end of 2023.
Economy
Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...
- Trump said the levy rate would be "lower at the beginning" but "very high after a certain period of time," as a way to encourage businesses to relocate operations to the US.
- On August 6, Trump announced a 100 percent tariff on semiconductors from firms that do not invest in the United States.
Economy
Oil prices rise ahead of US-Russia summit as stocks digest inflation data
New York, United States - Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while...
- The producer price index rose 0.9 percent on a month-on-month basis, much greater than analysts expected following benign consumer pricing data earlier this week
- Among individual companies, Intel surged 7.4 percent following a Bloomberg News report that Trump is considering an investment in the beleaguered chip company