Gulf Cooperation Council (GCC) countries continue to strengthen their position in global energy markets, supported by extensive natural resources, advanced infrastructure and sector expertise, according to data released by the GCC Statistical Centre. The data show that the region’s energy strategy is increasingly expanding beyond oil and gas production and...
Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.
AD Ports launches Noatum Logistics Middle East
The firm said the new brand will replace MiCCO Logistics.GCC’s F&B packaging industry transforms post-COVID
The F&B packaging industry in the region adapts to post-COVID consumer behaviors, emphasizing health, wellness, and sustainability, Abdelghany Eladib of SIG tells TRENDS.Bahrain and GCC look to boost ‘convention, exhibition’ industry
Manama, Bahrain-- Bahrain and the Gulf Cooperation Council (GCC) are looking to boost cooperation in the convention and conference industry in the region. In this regard a meeting was held in Dubai to discuss ways to enhance collaboration at the level of the Gulf Cooperation Council (GCC) countries. Fatima bint...
Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned for crafting "lifestyle hospitality experiences," SHG blends luxury, entertainment and local flavor. TRENDS spoke with Antonio Gonzalez, CEO of Sunset Hospitality Group, about the Group's vision and how it has steadily...
Emirates Steel Arkan signs $2bn deal
The 5-year, iron-ore pellets supply deal was signed with BSC.GCC’s cybersecurity dynamics: The two sides of AI
In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber threats.Sustainable practices make GCC economy resilient
A shift to green tech and renewable energy is fostering the Gulf economy's resilience and diversification for a sustainable future, says Phil Malem of Serco Middle East.
OYO New Year Eve bookings up 64%
Oman emerges top performer in the GCC region.Innovation makes GCC’s gifting tradition sustainable
With growing interest in eco-friendly and socially responsible products, gift businesses in the region are adapting by integrating sustainable options into their offerings.
GCC head and EU top diplomat review relations in Riyadh
Riyadh, Saudi Arabia--Jasem Mohamed Al Budaiwi, Secretary General of the Gulf Cooperation Council (GCC), and Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy, have reviewed relations in a meeting in Riyadh. The meeting discussed the latest developments and updates in both the regional...Dubai leads MENA region in urban mobility readiness
The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, highlighting its efforts in creating a sustainable, future-ready transportation ecosystem.
Qatar sees 36.1 percent surge in visitor arrivals in Nov 2023
Doha, Qatar -- Qatar witnessed a 36.1 percent increase in the number of inbound visitors in November 2023, compared to 2023, to a total of 393,000, but a 33.5 year-on-year decrease. The highest number of visitors was from the Gulf Cooperation Council (GCC) at 46 percent. As for visitors by type...GCC in the crossfire amid growing US-China tech war
Amid ongoing US-China technological rivalry, Gulf countries face crucial choices in balancing their economic and technological relations with both superpowers.
GCC Commercial Arbitration Centre to use AI in its operations
Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal bin Abdullah Al Hamad. The initiative aims to enhance international commercial arbitration processes, aligning with the national visions of the Gulf Cooperation Council countries. It is in harmony with the...GCC makes pivotal strides in development, diplomacy
In 2023, Saudi Arabia, UAE, Qatar, Bahrain, Oman and Kuwait collectively advanced in technology and sustainable development, achieving global integration.‘Gulf-Korea FTA marks historic economic milestone’
"The implementation of such free trade agreements follows directives from GCC leaders aimed at strengthening economic ties with other countries and international blocs and fostering joint trade and investment interests," he adds, noting that the deal signifies a shared commitment to bolster the strategic alliance and economic cooperation.DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National Hydrogen Strategy.Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.Saudi Arabia introduces unified platform for visas, including Hajj, Umrah
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application processes. The initiative is a step in the kingdom's strategy to bolster tourism in the forthcoming years. Abdul Hadi Al-Mansouri, Assistant Minister of Foreign Affairs for Executive Affairs, unveiled the...GCC in the crossfire amid growing US-China tech war
Amid ongoing US-China technological rivalry, Gulf countries face crucial choices in balancing their economic and technological relations with both superpowers.Navigating the rising tide of cyber threats in GCC
"Critical infrastructure organizations are distinct from other enterprises; their downfall could bring entire sectors of the economy down with them. It is hoped that in the coming year, the industrial control system's security will receive the comprehensive overhaul it so urgently requires," adds Selcuk.
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.
GCC region’s non-hydrocarbon growth momentum strong: IMF
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...Tabreed gets US$163m Green Revolving Credit Facility
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,...
GCC countries follow US Federal Reserve’s lead in holding interest rates
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...
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.Clean energy sees marked investment rise since 2020
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.
CBUAE joins the Gulf payments system AFAQ
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...UAE leads global renewable energy drive: IRENA envoy
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.GCC drives ahead into the future of transportation
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.Renewable energy, sustainability drive GCC growth
The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.Investments strengthen Türkiye-GCC economic ties
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 poised to reach $4 trillion by 2026
Islamic finance, with 70% of sector assets, is revolutionizing the global economy through ethical practices and digital innovation, gaining widespread traction.Gulf leads the charge in green mobility revolution
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.Fintech fuels growth in Islamic finance sector
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.Aster to separate its India and GCC businesses
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...Global food-security crisis nudges GCC to look inward
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, NLP transform business operations in Gulf region
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.GCC leads in climate action despite fossil fuel reliance
The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy transition, says a report.
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust non-hydrocarbon activity.
GCC maintains stable inflation rates despite crises
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.Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
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."
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
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."
Insect farming ‘revolutionizes’ Gulf agriculture
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.
GCC keen to strengthen economic cooperation with Turkey: Albudaiwi
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...
GCC hails progress on implementation of unified tourist visa
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,...‘Gulf nations should unite for Palestinian cause’
"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".IPOs in MENA raise US$5.8bn in first nine months of 2023
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...
