Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via VR, boosting the 'wow' factor with unique projects for global visitors.

The GCC countries and Russia have adopted a joint statement and a joint action plan for 2023-2028 following their meeting, Russian Foreign Minister Sergey Lavrov said. Later Lavrov met with the Saudi foreign minister to discuss strategic cooperation between the two countries.

The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by 2030, says an expert.

Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion ($1.49 billion) in April 2023, compared to SAR 6.57 billion in 2022, the Kingdom's General Authority for Statistics said.Compared with March 2023, the Kingdom's imports from GCC dropped by 21...

Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking economic policies, which have helped to attract investment and promote foreign trade. He also noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent...

"The GCC member states have over the years extended unwavering support to the diplomatic women of the GCC through tailoring a comprehensive and fair working environment for them, as well as removing all obstacles and challenges that face them and ensuring they receive full support in carrying out their duties,"...

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.

Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD, tells TRENDS in an interview.

GCC banks see continued growth on the back of innovation, tech focus and sustained government support. TRENDS Special Report analyzes factors that shape the sector.

Both countries attract a high level of foreign investment, which provides capital for their banking sectors. The UAE is the second-largest FDI recipient in the Middle East, and Saudi Arabia is the largest one in the region.

Businesses are getting ready for COP28 by moving from starting ESG programs to growing them, and those who know the benefits of ESG Reporting may gain a lot, say experts.

GCC banks started adopting online and mobile banking, and ATMs, in the 1990s and 2000s. More recently, they've integrated advanced technologies like AI, blockchain, and big data, enhancing customer service and fraud detection.

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.

Riyadh, Saudi Arabia -- The Ministerial Council of the Gulf Cooperation Council (GCC) has stressed the need for coordination, integration and interdependence among GCC countries in all fields.At its 156th session on Sunday, the Council focused on strengthening joint Gulf action, with the Council reviewing the integration process among GCC...

GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is that Cloud Service Providers must reside in their service regions, overcoming which could significantly expand regional financial services and mark a new phase in GCC's financial evolution.

Riyadh, Saudi Arabia--Saudi Arabia and Oman have launched a joint tourist visa to boost trade and investment cooperation in tourism-related projects.The unified tourist visa between the two countries was one of the several initiatives agreed upon at a high-level meeting held between officials of the two countries. The new cooperation in...

Dubai, UAE -- Non-institutional foreign investors increased their ownership in Tadawul-listed equities, excluding Saudi Aramco, to SAR 310.80 billion ($82.87 billion), in the week that ended on June 1, Argaam reported.The ownership of non-institutional foreign investors is represented by swap agreements, residents, and qualified foreign investors (QFIs). However, it does...

Tourism and Finance were the next flourishing sectors named in the poll in which the majority of the respondents were in the 20-29 age group and mostly from Egypt.

Dubai, UAE -  Around 70 percent of top-performing teams in the GCC have a higher percentage of women, underscoring the positive impact of gender diversity on organizational success, a survey by Bain & Company has revealed. Leading the way in this transformation are the United Arab Emirates (UAE) and Qatar, while...

Vienna,  Austria – OPEC+ has decided to adjust the level of overall crude oil production to 40.46 mb/d, starting 1 January 2024 until 31 December 2024.This was announced by the global organisation in a statement following the 35th OPEC and non-OPEC Ministerial Meeting in Vienna today.According to the statement, OPEC...

TRENDS investigation uncovers Media-Public Relations Nexus as PR companies in the region are found crossing ethical boundaries to secure favorable coverage.

Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market.

Abu Dhabi, UAE -- The UAE's economic growth is expected to remain robust, averaging 4.6 percent from 2022 to 2024, driven by higher oil prices and improved business confidence, according to the Arab Monetary Fund (AMF). The AMF's "Arab Economic Outlook Report" forecasts a 4.2 percent growth rate for the...

Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and declining readership.

Key challenges faced by coffee equipment makers in the GCC include market competition, customer price sensitivity, and managing complex distribution and logistics networks.

The UAE's strategic allure for global talent through enticing policies clashes with Saudi Arabia's ambitious Vision 2030, diversifying economy and broadening talent avenues.

The exhibition has become a popular platform for falconers to purchase elite captive-bred falcons from local and international farms.

Bentley's Regional Director for the UK, Middle East, Africa, and India also anticipates further growth luxury car market throughout 2023 on the back of economic stability and increased business activity in the Middle East.

Riyadh, Saudi Arabia--The GCC has called for the strengthening of trade and investment relations with the United Kingdom amid the ongoing negotiations over a GCC-UK free-trade agreement.The call was made by the organization's secretary general Jassem Mohamed Albudaiwi during a meeting with Kemi Badenoch, UK business secretary in Riyadh today.Commenting...

LONDON, UK -  British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as she visits Qatar, Saudi Arabia and the United Arab Emirates this week, according to a press release issued by the UK Embassy in the UAE.Meeting her ministerial counterparts in each...

Amid rapid tech growth and rising environmental concerns, understanding the current automotive industry trends, especially in luxury, is vital, says Dr Manfred Bräunl of Porsche.

Global supply chain constraints and escalating inflation are unlikely to affect IT spending in the Middle East, Turkiye, and Africa region, which is set to reach US$233.8bn.

Saudi Arabia emerges as an appealing market for foreign corporations interested in M&A deals due to rising global crude oil demand, Vision 2030, and private sector development.

The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation, and manufacturing sectors, the bank's officials said.

The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country.

TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for luxury goods and services across various sectors.

Muscat, Oman - Moody's has upgraded Oman's credit rating from Ba3 to Ba2 while maintaining a positive outlook due to the reduction in public debt and the improvement in the Sultanate's ability to meet its financial obligations in 2022.This comes after S&P revised Oman's outlook from stable to positive in...

The oil-rich kingdom has supported private institutions targeting startups to further boost investment in non-oil sectors.

Riyadh, Saudi Arabia -- The Gulf Cooperation Council has hailed Qatar's efforts for its role in the ceasefire between Israel and Palestinians that came into effect on Sunday.Jassem Mohamed Albudaiwi, Secretary General of the GCC, said the Qatari diplomacy has been successful in dealing deal with several international and regional...

GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.

Muscat, Oman - The Gulf Cooperation Council (GCC) countries met here on Thursday to address the obstacles affecting inter-country trade and to discuss the establishment of a common market.The 64th meeting between Gulf Cooperation Council (GCC) Trade Cooperation Committee and Committee for Standardization Affairs was attended by the GCC ministers...

China aims to play a more central role in the Gulf region, focusing on investment opportunities beyond the oil and energy relationship.

Its transformative power to reshape life has left people awestruck across the world, but the technology that powers ChatGPT might put at risk about 10 million jobs in the GCC.

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.

Sustainable mobility necessitates taking into account the entire lifecycle of a vehicle, not just the use phase. This includes sustainable design, end-of-life considerations, and incorporating recyclable materials, say experts.

The TRENDS poll highlights the need to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities.

Gulf health ministers discuss ways to upgrade healthcare systems in the region and relief work in Sudan, seeking to enhance and unify efforts since the outbreak of the crisis.

Abu Dhabi, UAE -- UAE President Sheikh Mohamed bin Zayed Al Nahyan and the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, Thursday spoke on the telephone to discuss bilateral relations between the two countries and ways to strengthen them further.The two leaders reviewed current areas of UAE-Qatar cooperation...

Despite significant rise in SMEs across GCC, there is still room for improvement in terms of governance, bringing in external shareholders, Rabih I. Khoury of MEVP tells TRENDS.

The visit comes against the backdrop of a rapprochement between regional rivals Iran and Saudi Arabia, and increased Arab engagement with Damascus. Iran is a major ally of President Bashar al-Assad.