However, Qatar faces downside risks from a deeper global economic slowdown that could weaken energy demand and LNG prices amid potential supply surpluses. Also, geopolitical tensions, and increased trade exposure to China add to those vulnerabilities, the author adds.

While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling growth and diversification,

The UAE and Saudi Arabia’s trade with China and India far exceeds their trade with the US and UK. This shift highlights the growing importance of BRICS partners in the Arab economic strategy, signaling a rebalancing of trade priorities to ensure sustainable growth, economic resilience, and diversified global partnerships.

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business to set up shop. But can the model work to power the GCC economy?

AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such as facilitating connectivity to global supply chains through e-commerce, and ramping up promotion and marketing efforts for domestic products.They also called for expanding outreach to foreign markets, fostering collaboration between...

Dubai, UAE-- Describing the COP28 as a huge moment for the world and the UAE, Andrew Griffith, Economic Secretary to the UK Treasury, said the whole world's eyes "will be here." Speaking to the media in Dubai, he said that sustainable finance will be central to the global event. He...

Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview.

Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview.

Manama, Bahrain--Bahrain Economic Development Board (Bahrain EDB) has attracted $295 million in direct investments within the Information and Communications Technology (ICT) sector as part of a total projected direct investment worth $1.4 billion, during the first nine months of 2023. Stemming from 14 local and international projects, the direct investments...

Riyadh, Saudi Arabia--Standard & Poor’s (S&P) has confirmed Saudi Arabia’s credit rating, both in local and foreign currency, as “A/A-1” with a stable outlook. The confirmation comes in view of Saudi Arabia’s ongoing efforts to implement significant reforms and achieve structural improvements in recent years, which have supported the sustainable...

Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe.

According to the credit rating agency, a combination of higher interest rates and production cuts by the OPEC is expected to restrain near-term growth prospects for major GCC economies. However, non-oil growth is anticipated to bolster the region's economies, particularly in Saudi Arabia and the UAE.

This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries or their websites.

Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.   The IMF said in a statement...

The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent oil prices from dropping significantly.

Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options.

The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia welcomed 16.6 million visitors, becoming the most visited Middle Eastern country. By Q1 2023, the number of tourists increased by a remarkable 64 percent compared to 2019. Key attractions include...

Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices.

The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to a peaceful place. Dive into an in-depth analysis from TRENDS.

The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place.

Driven by expats and national development programs, the UAE and Saudi Arabia are expected to experience growth in consumer and enterprise segments, say experts.

GCC banks, which are recognized for their sophistication and maturity, have minimal exposure to the ongoing global crisis due to proactive administrations and robust regulations across the region, they add.

Some experts deem the tax rate reasonable in global context, while others remain concerned about challenges the new tax regime could pose for family-owned businesses.

The signing of the UAE-Japan defense cooperation agreement aims to promote transfer of technology, cooperative research, development, and production projects.

The contribution of the non-oil sector to the growth of the economy is the strongest in the Gulf region, which indicates that the diversification that has been followed over the past years is bearing fruit, adds Georgieva during an interview on the sidelines of the Qatar Economic Forum in Doha.

"The SWF investment in climate tech will help sustain the shift away from the Gulf States' traditional source of income (oil and gas) as countries worldwide transition to cleaner energy sources. It will also create new opportunities for the countries in the region to thrive," he adds.

Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7 percent YoY during Q1-2023 to US$29.9bn, says a latest report.

Bern, Switzerland-- Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial and mining sectors, besides increasing access to non-oil exports. In this connection, the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, held a meeting with Switzerland's State...

The city, with a rich history of trading with the world through sea, looks to emerge as one of the top maritime cities of the world with a new bout of investments in infrastructure.

The UAE will continue to strengthen cooperation and enable positive, respectful dialogue between countries to achieve stability and prosperity for all, says the country's President.

Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of government and evolving market dynamics.

Diversification, new leases, and partnerships fueled the rise.

Gulf Cooperation Council (GCC) nation Bahrain is pursuing the path of diversification and has been able to diversify its economy quite efficiently in the last few years. Over the time, Bahrain has been able to cash in on the unexplored potential of sectors like tourism and technology. Owing to its...