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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%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

10,000 deaths raise specter of genocide in Gaza

Some world leaders like Turkey's President Erdogan use the term genocide to describe Israeli actions in Gaza. Israel has also...

Saudi construction sector employs 3 million workers

GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...

Major Saudi Arabian cities witness strong demand for residential, office real estate

Saudi government policies like 15 percent VAT exemption on real estate deals and affordable housing programs are boosting residential real...
  • Rents and prices for residential real estate in Riyadh and other major cities such as Jeddah is growing, according to JLL.
  • The Saudi real estate market is expected to register a CAGR of more than 9.74 percent during 2022 - 2027, according to Mordor Intelligence.

UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index

The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.
  • The CFA Institute said the index highlights both the considerable diversity and the positive features present in many systems.
  • The study also confirms that no pension system is perfect and that every system has shortcomings.

Foreign assets of Gulf central banks rise post Covid

Here are the details of how GCC countries gained in past four years in terms of foreign assets held by...
  • Here are the details of how GCC countries gained in past four years in terms of foreign assets held by each of the central banks of the region post-pandemic
  • Saudi Arabia’s foreign reserve assets recorded a jump of SR40.8 billion (US$10.88 billion) during the month of September 2022, reaching SR1756.2 billion

Qatar wealthiest, UAE happiest in Arab world

The world's richest countries have the highest happiness scores, which probably explains why Lebanon, facing its worst-ever economic crisis, ranks...
  • The World Happiness Report 2022 has ranked Finland as the happiest and Afghanistan as the unhappiest in the world.
  • Happiness has now become a key metric to track the performance of countries and corporate offices as well.

UAE’s mobile internet fastest in Arab world

According to the Digital Quality of Life Index by VPN provider Surfshark, Denmark has the best digital quality of life...
  • Denmark achieved 0.83 index points in 2021 (1 is the highest score). South Korea and Finland follow in a joint second place at 0.76 points.
  • The index considers factors such as internet connection quality, internet affordability and e-security.

Arab democratization slides further in 2021

Tunisia, the only democracy to remain a democracy after the Arab Spring, may turn authoritarian if a draft constitution published...
  • According to the Economist Intelligence Unit Democracy Index, the Middle East and North Africa is the lowest ranked of all regions covered in the index.
  • Many Arabs surveyed say they would prefer a strong leader 'who would bend the rules to get things done'.

Most Gulf nations stare at slow population growth

Except for the UAE and Bahrain, all GCC countries witnessed a steep decline in population. During the pandemic, the region...
  • S&P said the overall GCC population is unlikely to return to 2019 levels of 57.6 million people until 2023.
  • Gulf states rely heavily on foreign workers and efforts to nationalize the workforce to fight rising unemployment among nationals have accelerated in recent years

Dubai most transparent Arab real estate market

The emirate was ranked 31st in the world on the Global Real Estate Transparency Index 2022, which is based on...
  • The 2022 edition includes 254 individual indicators to assess market transparency across 94 countries and territories and 156 cities globally.
  • JLL said it is an essential guide for companies operating in foreign markets.

Beirut named most expensive city in Arab world

The cost of living in Beirut is also more than its purchasing power, which is the lowest among Arab cities....
  • Cost of Living Index measures compares expenses an average person incurs on goods and services in different regions.
  • The Index is also used to track how much the costs of basic expenses rise over a period.

Gulf countries witness dip in unemployment rates

The Gulf countries have taken several measures to increase the local employment, especially in UAE and Saudi Arabia. This week's...
  • The Gulf countries have taken several measures to increase the employment, especially in the UAE and KSA. This week's TRENDS Infographic looks at job situation in the region
  • The measures have led to an increase in employment in most of the GCC countries, but the Ukraine-Russia crisis, global economic turbulence and Covid-19 may pose challenges

10,000 deaths raise specter of genocide in Gaza

Some world leaders like Turkey's President Erdogan use the term genocide to describe Israeli actions in Gaza. Israel has also...

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UAE replaces Bahrain as most happiest Arab country

The United Arab Emirates takes the lead as the happiest Arab country in 2023, according to the World Happiness Report,...

UAE GDP growth likely to drop 0.9% in 2023

International Monetary Fund predicts economic growth in the Middle East and North Africa will fall to 3.2% this year from...

UAE, Qatar least corrupt Arab nations

The 2022 Corruption Perception Index says corruption is undermining democratic processes and fueling violence in the Middle East and North...

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Slower GCC growth expected in 2023

The region's biggest economy, Saudi Arabia, was projected to accelerate to 8.3 percent in 2022 before moderating to 3.7 percent...
  • Maroun Kairouz, Director for the Middle East and North Africa (MENA) at the World Economic Forum says GCC countries would be the least affected by the recession.
  • Easing of pandemic restrictions, and positive developments in the hydrocarbon market drove strong recoveries in 2021 and 2022 across the GCC, World Bank says.

Qatar, UAE lead Gulf region in governance, growth

TRENDS tries to look at where Arab countries stand in terms of politics, governance and economies, in the latest the...
  • TRENDS tries to look at where Arab countries stand in terms of politics, governance and economies, in the latest the Bertelsmann Stiftung’s Transformation Index
  • In past 10 years, the quality of democracy has declined in nearly one in five democracies, including in regionally important and once-stable democracies, the index points out

Egypt ranks globally fifth in remittances

Although the remittances grew by an estimated 5 percent in 2022, they were lower than the 10.2 percent increase in...
  • Remittances to low- and middle-income countries withstood global headwinds in 2022, growing an estimated 5 percent to $626 billion.
  • The growth was, however, lower than the 10.2 percent increase in 2021, World Bank Migration and Development Brief said in a report in Nov 2022.