Muscat, Oman -- Gulf Cooperation Council countries recorded strong performance in agriculture, livestock and fisheries during 2024, reflecting the growing role of these sectors in supporting food security and economic diversification. Data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf showed the...
Abu Dhabi event transforms global falconry
The exhibition has become a popular platform for falconers to purchase elite captive-bred falcons from local and international farms.
More females steer toward luxury vehicles
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.
GCC secretary general exhorts boosting trade relations with UK
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...
UK Business Secretary to visit Gulf countries to boost trade ties
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...
Recession fails to dent luxury car sector
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.
GCC IT spending to hit $35.3bn despite economic woes
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.
Green initiatives, SWFs drive M&A growth across GCC
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.
Strong non-oil sector growth to push UAE real GDP up 2.8% in 2023: WB
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.Gulf investments fuel Turkey’s economic growth
The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country.
Strong economy, HNWIs help GCC luxury market thrive
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.Moody’s upgrades Oman’s credit rating to Ba2 with positive outlook
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...
TRENDS poll: Vision 2030 spurs entrepreneurship, small business growth in Saudi Arabia
The oil-rich kingdom has supported private institutions targeting startups to further boost investment in non-oil sectors.
GCC Secretary General hails Qatar’s role in Palestine-Israel ceasefire
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...Luxury tourism in Gulf countries set to reach $11bn this year
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.
GCC meeting discusses trade challenges, unified market
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...
GCC-China economic relations move beyond oil trade
China aims to play a more central role in the Gulf region, focusing on investment opportunities beyond the oil and energy relationship.
Rise of ChatGPT: GCC might lose 10 million jobs in 5 years
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.GCC project awards surge despite economic challenges
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.Top car brands adopt sustainable mobility
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.Poll: Competence, quality key to boost GCC logistics
The TRENDS poll highlights the need to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities.GCC ministers review Sudan’s healthcare, relief bid
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.
UAE President, Qatar Emir talk on phone, review bilateral ties
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...Enhanced governance, financial control crucial for SMEs’ growth in Gulf region, says expert
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.Iran’s President Raisi to visit Damascus as Jordan hosts Syria meet
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.
Amanat acquires stake in Sukoon
Amanat will own 85 percent of the post-merger entity.
Digital platforms are transforming the way GCC countries attract investments
Since the beginning of 2023 alone, three digital and physical platforms have been launched by Qatar, Oman and Kuwait to facilitate investments by foreigners and the local private sector.
Proposed judicial overhaul threatens Gulf investment in Israel, Abraham Accords: Experts
The weakening of the judiciary and concentration of power will harm the high tech sector, deter foreign investment and make Israel less attractive as an economic partner.
GCC data center market to reach $5.5bn by 2028
Major cloud service providers such as Microsoft, Tencent Cloud, Oracle, Amazon Web Services, and Alibaba Cloud are establishing local cloud regions.Arab nations gather to discuss ending Syria’s long isolation
Arab countries gathered in Jeddah on Friday to discuss ending Syria's long spell in the diplomatic wilderness as regional relations shift following Saudi Arabia and Iran's decision to resume ties.
Arab meet: Middle East peace, ending Syria isolation key issues
Friday's nine-nation talks in Jeddah come after Syria's foreign minister arrived on a previously unannounced visit -- the first since the outbreak of the country's civil war in 2011. It was one in a flurry of events that were nearly unthinkable before Saudi Arabia and Iran announced to restore ties.
Qatar, Bahrain to restore ties as Middle East’s push for peace gains pace
In 2017, Bahrain joined Saudi Arabia, the United Arab Emirates and Egypt in imposing a diplomatic blockade on Qatar. The countries' rivalry goes back even further, however, and Bahrain is the last to renew ties. Agreement on the reconciliation was reached in talks at the Gulf Cooperation Council headquarters in...Dubai sees heavy influx of medical tourists in 2022, spending US$270m
DUBAI, UAEI--Dubai saw remarkable growth in medical tourism in 2022 with 674,000 medical tourists spending $270 million in the year. According to a report issued by the Dubai Health Authority (DHA), 39% percent of the medical tourists who came to Dubai were from Asian countries, 22% from Europe and the...TRENDS poll: GCC residents opt to be in Dubai for Eid vacation
Most of the participants, in the poll from as far away as Egypt and Lebanon, picked up Dubai to celebrate the festival in, with Doha coming at a distant second.Strong demand for UAE luxury real estate
By the end of 2022, the UAE was expected to attract more than 4,000 high-net-worth individuals. Around 25 percent of GCC's millionaires are moving to the UAE.UAE, Saudi Arabia lead GCC in job outsourcing
The latest developments are generating substantial growth opportunities for both local and international service providers in the outsourcing market, a report points out.
Talent Outsourcing in UAE to touch US$6.8bn by end of 2023
Dubai, UAE-- The total spending by UAE-based organisations on outsourcing services from local and offshore providers was estimated at over US$4.8 billion in 2018 and is expected to reach US$6.8 billion in 2023. This was highlighted in a new report by Boston Consulting Group (BCG) in collaboration with Forward MENA...Young Libyans take to e-gaming in a big way as tech revolution sweeps the region
Tripoli's mushrooming arcades have driven rapid growth in Libya's nascent gaming community, Mattouss says. The increasingly organized community is "motivating players and pushing other young people without experience to start training". He predicts that the sector will continue developing quickly.Saudi Arabia hub of big healthcare firms
The current healthcare expenditure in the Gulf Cooperation Council region is expected to reach $135 billion in 2027, implying an annualized growth rate of 5.4 percent.Trends Poll: Saudi will reach net-zero first in GCC
Gulf countries have substantial financial and other resources to achieve zero- emission goals but they need to identity and address the obstacles.UAE and Saudi to lead GCC e-commerce boom
The UAE is likely to remain the top e-commerce market in the GCC in 2023 but Saudi represents the largest potential growth over the medium and long term.
Sovereign wealth set to boost M&A activity in MENA
The region's corporate/M&A activity is expected to grow this year on the back of an unprecedented Sovereign Wealth movements in Abu Dhabi and Saudi Arabia, says an expert.GCC letter seeks US response to Israeli Palestinian comments
The letter from the six-member GCC's foreign ministers also called on the United States "to play its role in reaching a just, comprehensive and lasting solution" to the Israeli-Palestinian conflict. Israel's far-right Finance Minister Bezalel Smotrich, speaking earlier this month, said that the Palestinians did not exist as a people,...First India-GCC senior officials meeting held in Riyadh
New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was held in Riyadh on Monday, the Indian Ministry of External Affairs here announced. India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings...India looks to broaden partnership with GCC countries
New Delhi, India--India has stepped up multi-faceted consultations with GCC states ahead of the Group of Twenty (G20) Summit to be held in New Delhi in September under its presidency. A 12th round of India-Oman Strategic Consultative Group meeting in Muscat “reviewed bilateral ties in different domains and identified new...Road to GCC smart cities viable, but not hurdle-free
Integrating smart roads and sustainable construction in GCC smart cities requires technical proficiency like data analytics, sensor technologies and software skills, says an expert.
‘Bad governance, lack of solid regulation fuel blockchain violations’
There is chaos in the crypto market and the dust rises with an episode of failure, but failures must not be generalized, says Don Tapscott of Blockchain Research Institute.GCC sees rise in tech jobs despite drop in PC sales
Technology remained GCC's most active industry sector in terms of hiring, with 77 percent of organizations increasing their headcount last year, latest reports point out.Dubai wins crown in TRENDS poll on best city in GCC
The city has won a huge following among the people who see it not just as a city for business, but as one where families can co-exist with big money.Tough laws, quotas may plug GCC gender gap
Despite being the most educated demographic, women in the region have the lowest employment rates. it is crucial to incorporate women into non-traditional sectors to facilitate the GCC's shift towards a post-oil economy.
Proactive govt policies, high rates, slow global growth to lower impact of inflation in Gulf region
The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices and strong energy exports in 2022, reports suggest.
