Mobile data service revenues are expected to reach 60 percent of the total GCC mobile service revenues by 2026.

Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that is likely to earn a higher return on equities.

DUBAI, UAE -  The Dubai Electricity and Water Authority (DEWA) under-construction pumped-storage hydroelectric power plant site in Hatta is 58.48 percent complete.This is the first station of its kind in the GCC, with investments of up to US$387 million (AED 1.421 billion).The project is planned for completion in the fourth...

In the first nine months of 2022, real estate transactions in the region totaled more than US$143bn, surpassing the full-year US$136.9bn figure during 2021, says Kamco Invest.

“E-commerce sales via marketplaces will continue to grow in double-digit percentages in 2023, driven by a higher proportion of cross-border shopping, and ongoing increase in the adoption of credit cards, and logistics services such as Aramex’s Shop & Ship, MyUS and DHL’s Easy Shop,” he adds.

Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts.

As the Gulf nations look to deepen economic partnership with China, the US, the region's dominant security force, watches with concern the GCC tilt toward its rival.

The region was ranked the riskiest by the Global Risk Report Quarterly Update. But the GCC region stood out, offering some of the best supporting environments for investors.

Saudi and the UAE equities beat sluggishness of the past few weeks, recording gains across many sectors, with Abu Dhabi index posting gains not seen since last October.

The regional panel, during its fourth meeting in Riyadh, reviews the implementation of the strategic plan to improve educational institutions in the bloc and their needs.

Saudi Arabia's GDP witnesses 9.3 percent increase in the third quarter of this year as the rally in oil prices has fuelled economic growth across the Gulf region.

The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international environmental forums.

Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.

Cities across Europe and North America, and their infrastructure, service and hospitality are pale in comparison to the Arab region – particularly Gulf countries, writes Julien Hawari.

"China will continue to firmly support the GCC countries in maintaining their own security... and build a collective security framework for the Gulf," Chinese President Xi said at the start of the China-GCC summit.

About $30 billion in agreements will be signed on Thursday, Saudi state media said, as China seeks to shore up its Covid-hit economy and as the Saudis, long-term US allies, push to diversify their economic and political alliances.

The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.

Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher than in Europe.

Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every project’s success, experts had said at the event.

Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.

During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022.

RIYADH, SAUDI ARABIA - Saudi Minister of Environment, Water and Agriculture, Engineer Abdul Rahman bin Abdul Mohsen Al-Fadhli inaugurated Sunday the Aquatic Animal Diseases Network in the Middle East in the Kingdom. The inauguration took place in the presence of the Director General of the World Organization for Animal Health...

Both employers and employees stand to benefit from the UAE's recent labor law amendments, Ben Brown, Partner at the law firm Addleshaw Goddard, tells TRENDS.

The equities had a lackluster week owing to a decline in global crude oil prices amid fears that the surge in Covid-19 infections in China, the largest oil importer, will reduce demand.

Beside approving various programmes and joint projects, the region's information ministers discuss strategic plan for joint media cooperation between the GCC countries.

High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's intermittent Covid-19 restrictions intensify the decline.

Riyadh has surpassed all other MENA cities in terms of startup activities with higher literacy rate, faster average broadband speed, a latest report points out

Post Covid, professionals are reviewing and updating their skills to stay competitive in the job market where remote work ha becoming increasingly popular, says a report.

The MoU was inked on the sidelines of the 18th edition of Manama Dialogue 2022.  

Manama, Bahrain—The Gulf Cooperation Council (GCC) has stressed the importance of strengthening ties between the GCC and the European Union (EU) in order to "serve common interests." The Secretary-General of GCC, Dr. Naif Falah Mubarak Al-Hajraf, met with the President of the European Commission Ursula von der Leyen in the...

The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report.

The Gulf ministers review projects aimed at strengthening joint Gulf action in tourism as well as strategic partnerships between the GCC and other countries and stakeholders.

Many Gulf states, including the region's two biggest economies, raised key interest rates earlier this month after the US Fed hiked its key policy rate.

The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take place in the Saudi market and the GCC region. It sold 12 million shares and its remaining stake is equivalent to 72 million shares or 60 percent of the Company's...

DFM index jumped 0.6 percent, Abu Dhabi index rose 0.1 percent, Saudi Stock Exchange varied as index ended its trading with a fall of 1.7 percent, losing 195.48 points.

The four largest banking markets in the GCC -- UAE, Saudi Arabia, Kuwait and Qatar — are expected to 'nearly approximate' pre-pandemic profitability ranks by the end of 2022.

Dubai, UAE—  The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup, as more than 1.2 million fans are expected to attend the event. According to a survey conducted by S&P Ratings, the influx of football fans from around the world will...

Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an important part of energy supplies to the EU has been coming from the Gulf countries, including the UAE. “This has changed the energy landscape of Europe,” he says.

Facebook, Instagram, Twitter and other social media platforms have reportedly blocked campaigns aimed at influencing opinion in Central Asia and the Middle East.

The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer deposits.

GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging in growth industries like fintech and logistics.

Sixteen member countries of the Abu Dhabi Dialogue that send and receive laborers discuss problems and welfare of the workers during high-level meetings in the UAE.

Several factors are at play when it comes to strengthening relations between GCC and Asian countries. TRENDS looks at all of them and gives them a perspective.

Despite soaring inflation and murky economic prospects worldwide, the IMF maintained its projection of 5.0 percent growth for the region in 2022, dropping to 3.6 percent in 2023. But the figures, although higher than elsewhere in the world, don't reflect the region's "challenges", Middle East and Central Asia director Jihad...

More Saudi businesses embrace engagement technologies to boost customer experience, increase RoI and enhance productivity, says Unifonic VP & MD Ibrahim A Almohaimede.

The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to be hosted in Doha. Qatar summoned Germany's ambassador to protest against comments made by Interior Minister Nancy Faeser casting doubt on whether the Gulf state should host the football World...

Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from 1st January, 2023. The amendments were made are in line with international best practice in light of the GCC...

As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is taking place in areas such as the new energy, artificial intelligence, and industrial diversification.

With an estimated 209 million people making purchases online at the height of the pandemic, e-commerce in the MENA area has grown faster than anywhere else.

SEOUL, SOUTH KOREA - The sixth round of revived negotiations between the Riyadh-based Gulf Cooperation Council (GCC) and the Republic of Korea to reach a free trade agreement was launched in the South Korean capital of Seoul Tuesday and lasts until October 28. The two sides expressed readiness to advance...