Riyadh, Saudi Arabia -- The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital inflows, and reform implementation, the International Monetary Fund (IMF) has said.A comprehensive package of policies should be implemented to respond to near-term shocks and uncertainty and to firmly address medium-...

ABU DHABI, UAE -  Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving Credit Facility (RCF) in partnership with First Abu Dhabi Bank (FAB) as the Green Coordinator, alongside Abu Dhabi Commercial Bank (ADCB), and Emirates NBD.This financing agreement, spanning five years, aligns...

Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current interest rates, in a coordinated move echoing the US Federal Reserve's recent decision, underlining a synchronized approach to monetary policy in the Gulf Cooperation Council (GCC) region.UAE's Monetary Policy StanceThe...

Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is making strides towards a greener future, says an expert.

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf Payments Company (GPC) and owned by the GCC Central Banks. “AFAQ”, a system linking payment systems in GCC countries, offers the service of executing financial transactions in local currencies to customers...

The UAE plays a pivotal role as IRENA headquarters and key renewable energy hub, Dr Nawal Al Hosany, the permanent representative of the UAE to IRENA, tells TRENDS.

With the technology and vision firmly in place, the GCC countries are now building momentum, developing the partnerships, infrastructure, and regulations that will allow for full scale EV and AV commercialization and shape the future of transportation for generations to come, Joumaa adds.

The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.

The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to significantly boost bilateral trade.

Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread traction.

In the heart of the GCC, a transformative shift towards 'Green Mobility' is underway, driven by a commitment to environmental sustainability and reducing carbon footprints.

Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026.

Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate approvals including Aster India’s shareholders’ approval. The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy and create...

Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region self-sufficient, in a sector vulnerable to the vagaries of war, climate and disease.

AI and NLP are revolutionizing workplace efficiency by enabling employees to swiftly access essential information, thereby augmenting customer and personal convenience. Invisible virtual assistants streamline tasks, such as directly emailing the service desk for ticket creation or speeding up purchase requisitions and expenses, he adds.

The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy transition, says a report.

A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust non-hydrocarbon activity.

Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived as a sustainable path for a secure food supply.

Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General Jasem Mohamed Albudaiwi.The secretary general stressed that the GCC Ministerial Council, which held its 155th session in March this year, resumed the strategic dialogue with Türkiye, and adopted the Joint...

Muscat -– In a significant stride towards enhanced regional cooperation, the Gulf Cooperation Council (GCC) has announced progress on the implementation of a unified tourist visa, marking a new milestone in the collective achievements of the member states. The announcement was made by the GCC Secretary General, Jasem Mohamed Albudaiwi,...

"Our stance on the Palestinian issue is unequivocal. The Palestinian people's right to resistance, including reclaiming their occupied land and confronting the Zionist entity, will persist," he adds, expressing optimism that the next phase would promote "greater unity and efficacy for Arab causes".

ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East and North Africa (MENA) region during the first nine months of this year, with total proceeds of US$5.8 billion.The report, issued on Tuesday by Ernst Young (EY) on IPO activity...

A latest report by IIF highlights three possible outcomes from Gaza operations, each with profound implications for MENA economies and political stability.

AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business Forum on November 22-23.Held under the theme "Business - Investment - Partnership," the event is organized by the Federation of Gulf Cooperation Council (FGCC) chambers in cooperation with FEDCOC, with...

Muscat, Oman-- Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudawi, has underscored the importance of cooperation in investigations into cross-border corruption cases and prosecution of their perpetrators, given the significant impact corruption has on economic development and growth. He made the remarks at the 9th meeting of...

Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler CEO Sam Singh tells TRENDS.

The GCC project sector, one of the world's most dynamic, has recorded a significant surge in project awards, reaching $41.8 billion in the third quarter of 2023, says a report.

They have partnered with each other for the past six years.

"A Free Trade Agreement between the GCC countries and China will be a pivotal channel to amplify GCC-Chinese relations across all sectors, especially in economics and investment. It will play a crucial role in augmenting the mutual benefits and trade exchanges, benefiting numerous countries and their citizens," he adds.

It's net profit was AED 26.5 million ($7.21m) in Q3 2023.

Riyadh, Saudi Arabia-- UAE President Sheikh Mohamed bin Zayed and Vietnamese Prime Minister Pham Minh Chinh have explored opportunities to further strengthen ties between the two countries in a meeting between the two leaders in Riyadh.The president and prime minister met on the sidelines of the joint summit between the...

With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the Gulf region has been commendable, says a report.

Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in net profits and a substantial 12.2% growth in net assets, the EY MENA H1 2023 Banking Report revealed on Monday. Returns on equity increased by 6.18%, and the net interest...

Marrakech, Morocco-- In spite of economic disruptions, policymakers in the GCC countries have successfully alleviated the economic ramifications of the challenges they have faced, according to Jassem Mohamed Albudaiwi, the Secretary-General of the Gulf Cooperation Council (GCC).He added that the GCC nations experienced substantial growth in their gross domestic product...

Marrakesh, Morocco-- The Gulf Cooperation Council (GCC) attaches great importance to finding solutions to economic problems such as the eradication of poverty and enhancing food security, according to the GCC Secretary General Jassem Mohamed Albudaiwi. He made the remarks in connection with the participation of the council member states in...

Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report.

As GCC leads in digital innovations, there's an urgent need for strong cybersecurity to combat increasingly complex threats targeting governments, businesses, and individuals.

Abu Dhabi, UAE - The UAE as a geographical and business hub will help the proposed ‘food security corridor project in India under the I2U2 framework,’ Piyush Goyal, Indian Commerce Minister told the Emirates News Agency (WAM) in an exclusive interview.“The UAE as a trading hub can cater to the...

Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023, down from 7.3 percent in 2022, according to the World Bank.In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024....

Riyadh, Saudi Arabia - The Gulf Cooperation Council (GCC) has approved several more regulations and resolutions as part of its bid to accelerate economic integration. According to the GCC Secretary-General Jassem Mohamed Albudaiwi, the grouping at the 120th meeting of the GCC Financial and Economic Cooperation Committee in Muscat, took steps...

The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is drawing global focus, heralding the future of financial services.

Abu Dhabi, UAE-- Kazakhstan's BSG Technology is looking to expand its operations into the Middle East, and begin operations in the UAE next year.According to Serik Baimukhanbetov, Deputy Director for Business Development of BSG Technology, the company expects to launch its operations in the UAE market in 2024 and has...

A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.

A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.

In landmark developments, Saudi Arabia and Pakistan have taken significant strides to enhance their bilateral relations, especially in the economic and technological arenas.

Influenced by global inflation concerns and high rates, Gulf markets faced second consecutive monthly dip in September. Only Dubai and Qatari markets resisted the trend.