ESG principles offer a solution framework as the region faces urbanization challenges, including unplanned settlements in cities like Cairo and Makkah, says a report.

Abu Dhabi, UAE--Black Cobra Military Supplies (BCMS) and the National Factory for Safety and Security Products (NFFSP) have signed a memorandum of understanding (MoU) to design and manufacture military footwear for the MENA region. Facilitated and supported by the Emirates Defence Companies Council (EDCC), the agreement aims to offer a...

MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round.

The investments are expected to localize partnerships.

Favoring CBDCs for efficiency, convenience, and security, 63% of MENA residents believe central banks should introduce them, and 73% are ready to use them, says a survey.

Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and highly correlated in the first half of 2023. This trend is likely to persist.

Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most investment in the next three years.

Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the United Nations Framework Convention on Climate Change (UNFCC). The MENA week’s activities and events will be “Global Stocktake” to assess the progress made towards realizing the climate changes objectives outlined...

Riyadh, Saudi Arabia -- Aramco, TotalEnergies and SABIC have completed for the first time in the Middle East and North Africa (MENA) region the first conversion of oil derived from plastic waste into circular polymers certified with the International Sustainability and Carbon Certification (ISCC+). The plastic pyrolysis oil, also called...

Abu Dhabi, UAE-- AD Ports Logistics (ADPL) has signed an agreement with Acino to provide the Swiss company with global freight-forwarding services, inclusive of sea and air transport in the Middle East and North Africa (MENA) region. The agreement will see ADPL leverage its fully integrated and GDP-certified end-to-end pharma...

DUBAI, UAE  - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its third report on the emirate's digital economy. The Dubai's Venture Capital Ecosystem report provides an overview of the investor landscape backing the start-ups and scale-ups that are transforming Dubai and...

At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7 percent drop in deal volume, says a latest report.

Dubai, UAE:  The UAE’s target of attracting 40 million tourist visits by 2030, and its subsequent economic contribution of AED 450 billion ($123 billion) to the country’s national GDP, will further boost the leisure and entertainment (L&E) sectors of both the nation and the region, Fever, the leading global live-entertainment...

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from 1.7 percent  (in January 2023), thanks to greater-than-expected flexibility in major economies. In its latest report released in June 2023, the World Bank also expected the global growth to reach...

Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council (GRC) during its 11th annual meeting in The Hague, The Netherlands. Dr. Munir Eldesouki, the President of King Abdulaziz City for Science and Technology, will continue to represent Saudi Arabia...

Dubai, UAE -- First Abu Dhabi Bank (FAB) has raised $600 million from an offering of a five-year bond, which is the first green bond issued by a financial institution in the MENA region in 2023. The green bond was upsized to $600 million from the initial $500 million after...

"The 2022 Saudi census marks the "most comprehensive and precise population survey conducted in the Kingdom's history," the General Authority of Statistics said. It set the total population of the country at 32.2 million: 58.4 per cent Saudi nationals and most others from South Asia or elsewhere in the MENA...

Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ) in the first quarter of 2023, registering a 122 percent jump as against the same period of last year. Ramy Jallad, CEO of Ras Al Khaimah Economic Zone (RAKEZ), said...

Abu Dhabi, UAE - AD Gaming has expanded its gaming ecosystem by welcoming MY.GAMES to Abu Dhabi, marking the latest multinational gaming business to select the emirate as its regional hub. Headquartered in Amsterdam, MY.GAMES is a leading publisher and developer of mobile, PC, and console games, with over one...

The company posted Q1 revenue of US$299 million.

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

The acquisition includes all operating projects and pipeline of Spectrum.

Abu Dhabi, UAE - Abu Dhabi has been named the smartest city in the Middle East and North Africa (MENA) region for the third consecutive year, according to the IMD Smart City Index.  The study surveyed 120 residents in each of the 118 cities worldwide and evaluated infrastructure and digital...

Dubai, UAE - The US dollar could record some gains as markets increasingly see a higher probability that the Federal Reserve will raise interest rates one more time at their next meeting, Wael Makarem, Senior Market Strategist, MENA at Exness said on Monday.  The constant surprises in US economic data...

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...

The company announced Earnings Per Share of 10.1 fils.

DUBAI, UAE -  Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for five days of demonstrations, displays, seminars, launches and workshops. The global boat-building market is expected to reach over US$47 billion in 2027, at a CAGR of 7.5 percent, and the...

Amman, Jordan--Standard Chartered has decided to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), according to both the parties. Standard Chartered, the emerging markets-focused lender, plans to exit seven markets in Africa and the Middle East. The bank entered into an agreement with AJIB, subject to central bank...

The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells TRENDS during an interview.

The investment bank is working on five diverse sectoral IPOs in the GCC market which will be launched between the second and fourth quarters of the year.

Young women in the MENA region are more likely to be in the workforce, while the GCC countries — particularly the UAE, Saudi Arabia, and Qatar — have seen advances in labor force participation, according to a PwC report published in December last year. However, they are yet to gain...

The artificial intelligence is expected to play a significant role in shaping the future of region's financial services, Tarabut Gateway CCO Adnan Erriade tells TRENDS.

In 2023, some Middle Eastern economies appear to be more resilient than most developed markets, Maroun Kairouz, Director for MENA at the World Economic Forum, tells TRENDS.

The DXB achieved the highest growth rate among the top 10 airports in the number of international passengers worldwide, according to OAG Aviation company.

Startups in the Middle East and North Africa raised $3.94 billion in 2022, a 24 percent increase in investment value compared to 2021, according to Wamda.

The latest data from the United Nations World Tourism Organisation (UNWTO) shows that global tourist travel in 2022 was 37 percent lower than 2019.

The two biggest economies of the region are leaving no stone unturned to hire the most talented professionals in order to run the ever-expanding companies.

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has started receiving requests from researchers and scientists to submit their research papers for the first Middle East and North Africa Solar Conference 2023, which DEWA will organise from 15th to 18th November 2023. The research papers focus on a wide range of...

Over the next decade, the Kingdom's tourism industry is projected to develop at an annual rate of 11 percent, making it the region's fastest-growing tourism market.

There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from 20 percent in 2021 to 47 percent in 2022, reports suggest.

Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.

Dubai, UAE-- On the second day of the MENA IPO Summit Dubai 2023, many experts called for the creation of a a dynamic and advanced regulatory structure for capital markets and educating market participants on the best practices. During the summit’s workshops and discussions, securities companies and experts talked about...

Non-Gulf countries' contributions to the digital economy in the region will increase to more than 35 percent during this time, says a latest report.

Jeddah, Saudi Arabia---The Islamic Corporation for the Insurance of Investment and Export Credit, the Islamic Development Insurance arm of the Islamic Development Bank Group, Saturday signed an MoU with the Abu Dhabi Future Energy Company (Masdar) as part of its goals to transition to renewable and clean energy in markets...

Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar Musa, CEO of PRO Partner Group.

Despite the challenges of the digital transition in some MENA countries and the rising unemployment, about 90% of professionals in the region remain enthusiastic about 2023.

Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming a public company at the MENA IPO Summit, to be held in Dubai from 23 to 25th January. The event will also showcase a roadmap for startups and SMEs in...

Across the region, parents struggle to shield children from unsavory elements prowling the cyber world, as risks grow with the spread of the internet.

SHARJAH,  UAE - Expo Centre Sharjah (ECS) has announced the completion of all preparations for the 18th edition of the SteelFab (SteelFab 2023) exhibition, the largest event of its kind in the Middle East and North Africa region. The event is being organized by ECS, with the support of the...

The final match, that saw Argentina claiming their second World Cup trophy after beating France 4-2 on penalties, recorded 242.8 million views on beIN SPORTS free-to-air channel.