Gaming, esports GCC’s new growth play
Saudi Arabia and the UAE are leading the gaming surge with world-class ecosystems and youth-driven expansion. Across the region, governments...
Economy
Building the Gulf’s Knowledge Future: Education, Innovation, Talent
Florin Vasvari of London Business School says a knowledge economy requires educated local talent, global expertise and supportive regulation, tax...
Economy
Economy
‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...
- The Red Sea Project, Diriyah Gate, Qiddiya Entertainment City, and NEOM have thrust the kingdom into the global limelight
- NEOM has made waves for its revolutionary take on connectivity infrastructure, innovative city features, and sustainability
Business
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
- Over 722,000 were international visitors to various events, showcasing an unparalleled 60 percent growth rate year-on-year.
- Flagship events such as GITEX Global and Gulfood maintained their leadership positions in their respective sectors.
Business
Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
- They called for expanding outreach to foreign markets, fostering collaboration between the government and the industrial sector.
- Jordan has taken several measures to stimulate domestic exports, improve market access and maximize the benefits of existing free trade agreements.
Economy
Dubai, Abu Dhabi real estate market thrives in Q1 2024
“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...
- In Abu Dhabi, Q1 2024 recorded 814 residential transactions representing around 38% of the total transactions
- Data from the Dubai Land Department showed a significant surge in total sales transactions in Q1 2024
Economy
March sees GCC Index drop as heavyweight sectors lag
GCC equity markets experienced a March downturn, influenced by seasonal selling pressure during Ramadan, leading to a 3.0% drop in...
- The decline was mainly led by seasonal selling pressure during Ramadan as investors booked profits after last month’s healthy gains
- Qatar suffered the steepest fall by 6.0%., Saudi Arabia was next with a slide of 1.8% while Kuwait and Dubai indices fell by 1.5%
Economy
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
- Al Multaqa Meetings empower Abu Dhabi to accelerate economic growth, by providing a platform to support investment.
- Supported by private sector and family-owned businesses, Abu Dhabi’s non-oil sectors is going from strength to strength.
Economy
Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
- The objective is to incentivize offenders to settle their fines within a six-month window from the commencement of the initiative
- Payment options include either clearing all fines at once or settling each fine individually, provided there are no additional safety-related violations
Business
Exports key target of GCC hydrogen strategies
Clean hydrogen could be bigger than the oil and gas economy for the region, says Jo Bamford, chairman of HYCAP,...
- Bamford told TRENDS that the region is blessed with ample solar and wind resources needed for generating the lowest-cost electricity that is eventually needed to produce hydrogen.
- The emergence of the hydrogen industry in GCC nations promises significant economic opportunities, with projections suggesting a market worth $100 billion by 2030.
Economy
Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
- The opportunities are part of the fifth round of mining competitions for exploration licenses and encompass gold, copper, zinc, lead, and silver ores
- Investment opportunities for exploration licenses include Al-Halahila site in the Najran region, estimated to be more than 34 square kilometers in size
Gold hits fresh record above $2,300 as Fed hints at easing monetary policy
On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely...
- Gold has chalked up multiple records over recent weeks as the US Federal Reserve indicates it is about to begin easing monetary policy which makes it more attractive to investors
- Its popularity as a safe haven in times of turmoil has also provided plenty of support, with traders fretting over the Middle East crisis and the ongoing war in Ukraine
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Gaming, esports GCC’s new growth play
Saudi Arabia and the UAE are leading the gaming surge with world-class ecosystems and youth-driven expansion. Across the region, governments...
Economy
Company News
Latest News
Asian markets creep up as investors await key speech
Hong Kong, China - Asian markets edged mostly upward in muted morning trading on Thursday, one day before a key...
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...
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,...
Economy
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Business
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...
- Bitcoin is also winning investor support thanks to strong backing for the cryptocurrency sector from Trump.
- Most European equity indices climbed after major Asian peers ended lower.
Economy
Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025
Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
- Real Estate activities grew by 7.8 percent, while financial and insurance activities expanded by 5.9 percent.
- Accommodation and food service activities recorded a 3.4 percent increase, and transport and storage rose by 2 percent.
Economy
Bitcoin hits record high above $124,000 before retreating
Tokyo, Japan - Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US...
- US stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new heights this week, contributing to the cryptocurrency's rise
- Bitcoin's value has recently soared, fuelled by US regulatory changes under US President Donald Trump, a strong backer of the crypto sector