Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...
Economy
Saudi women’s unemployment drops to 13.7% by 4Q 2023
Riyadh, Saudi Arabia - The unemployment rate among Saudi women witnessed a historic decline, plummeting to 13.7 percent in the...
Economy
Business
Dubai: Monaco of the region with a difference
The final quarter of 2021 provided a major boost to Dubai hotel results, with properties surpassing even 2019 figures across...
- Overall, UAE hotels raised $408 million in revenue between December 15 and the end of January 2022, with Expo and the second World's Coolest Winter campaign as key catalysts.
- Dubai has beaten popular holiday destinations such as London, Bali, and Rome to become the most popular destination for 2022.
Economy
Not just business hub, Dubai is music, food destination too
The locals, residents, and visitors have once again started flocking to museums, historical and heritage sites, and public libraries, according...
- The locals, residents, and visitors have once again started flocking to museums, historical and heritage sites, and public libraries, according to DCAA data
- The hotel sector witnessed strong bookings, supported by the increase in tourism and participants in Expo 2020 Dubai and other events such as Gulfood 2022
Analysis
Metaverse: Opportunities vs challenges
New business models must be developed to take advantage of the metaverse's technology, says Fadi Kassatly, Partner, Enterprise Systems and...
- By 2026, about 25 percent of internet users would spend at least an hour a day in the metaverse and 30 percent of organizations would use it to distribute their products.
- Because of the metaverse, companies can now imagine new stakeholder engagements that include interactions and create value faster, realistically and with more significant impact.
Business
SMEs across GCC need more decentralized approach
The companies must also strive for more delegated authority and accountability as delays and poor follow-up lead to disaster, says...
- The firms must strive for more delegated authority and accountability as delays and poor follow-up lead to disaster, says Rabih I Khoury, Partner & Chief Exit Officer, MEVP
- Also needed is the use of technology to facilitate communication and digital processes implementation and leverage mature SaaS functionalities through mobile apps, he says
Economy
Russian embargo won’t result in global oil dearth : IEA
The IEA said "steadily rising" output from the United States and Middle Eastern members of the OPEC+ oil cartel will...
- The IEA had previously warned that Moscow's invasion of Ukraine could spark a global supply "shock".
- World oil demand growth, meanwhile, is forecast to slow to 1.9 million barrels per day in the second quarter.
Business
Russian gas to Europe via Ukraine down by almost a third
Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even...
- Ukraine's pipeline operator GTSOU said that it was halting gas transport at the Sokhranivka transit point
- Germany said Wednesday that it saw a 25 percent drop in supplies of Russian gas flowing through Ukraine
Business
Scarce French rainfall adds new cloud to global food market
World food prices hit an all-time high in March following Russia's invasion of Ukraine, which accounted for 20 percent of...
- France is Europe's agricultural powerhouse, the biggest grain producer in the 27-country bloc
- The national weather service said France was in the grip of a hot spell with 20% less rainfall reported
Economy
Lebanon jobless rate almost triples since crippling economic crisis
The official unemployment rate in crisis-hit Lebanon jumped almost three-fold to reach 29.6 percent at the start of the year,...
- After years of corrupt practices and financial mismanagement, Lebanon's economy collapsed two years ago, stripping the national currency of 95 percent of its value.
- The issue of unemployment has not featured prominently in the campaigns led by the main parties fielding candidates in Sunday's parliamentary election.
Economy
How will Lebanon vote impact the crisis-hit economy?
Here’s a look at the challenges that await incoming lawmakers in a country where there is little consensus on a...
- Starved of hydrocarbons, Lebanon’s power stations have scaled down operations to a near minimum
- Power cuts can last up to 23 hours a day, forcing residents to rely on expensive private generators
Geostrategy
Syrian refugees in Turkey: Political tool in crisis times
With the lira's value tumbles to historic lows and annual inflation runs at nearly 70 percent, the refugee question regularly...
- Political parties in Turkey spar over sending 3.7 million Syrian refugees back to their war-torn homeland while the refugees have no appetite to return
- Majority of the Syrian refugees have settled in Turkish society since 2012, and only 1 percent live in the shelter camps built for those who escaped civil war
Most Read
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
Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...
Economy
Company News
Latest News
Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
Geostrategy
Saudi Arabia’s banks post 9.6% rise in aggregate profits in July to US$1.71bn
Riyadh, Saudi Arabia-- Banks in Saudi Arabia have reported a 9.6 percent increase in aggregate profit to $1.71 billion in...
Economy
Sharjah to host Gulf-Iraq business forum to ramp up economic ties
Sharjah, UAE--Sharjah will host the first-ever Gulf-Iraq Business Forum on 26th and 27th September to boost economic ties between the...
Business
Most Read
Economy
GCC shows economic resilience as inflation hits globe
GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth...
- GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth across the region
- Saudi Arabia's CPI is being driven by housing and food, the UAE experiences a sharp CPI drop due to transport costs, while Qatar sees its lowest inflation since July 2021
Arts & Culture
NEOM to set up education, research and innovation center
TABUK, SAUDI ARABIA – NEOM has announced plans to establish a world-class education, research and innovation (ERI) center, following last...
- NEOM’s ERI center will enable access to a world-class education, research and innovation ecosystem at any stage of the life of a learner.
- The curricula deployed across NEOM’s ERI pillars will prepare a digitally fluent workforce, equipping students with real-life skill sets.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.