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UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion by the end of 2024 and an impressive $17 billion forecasted for 2025. The trajectory is emblematic of the broader Middle East and North Africa (MENA) region's e-commerce landscape, poised...
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PwC report confirms assertions of TOP CEO Conference experts: Skills help women get more jobs across MENA
Young women in the MENA region are more likely to be in the workforce, while the GCC countries have seen advances in labor force participation, says the latest PwC report. -
Saudi Arabia extends term of $5 billion deposit for Central Bank of Egypt
The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine. -
Global economic crisis takes fizz out of MENA startups
MENA startups had begun the year with a deluge of funding from investors, but toward the year end a dark cloud hovers over new businesses as global crises dip the enthusiasm. -
Multi-disciplinary solutions needed to deal with food crisis and water scarcity in MENA region
It is essential to adopt sustainable water management practices to build resilience, sustain peace and improve the well-being of local populations. Coordinated action is needed urgently to tackle the water crisis in the MENA region, which has reached unprecedented levels, he adds. -
Jordan Minister calls for MENA-Europe electric connection project
AMMAN, JORDAN - Jordan's Minister of Energy Saleh Kharabsheh stressed on the importance of conducting an electrical interconnection project to supply Europe with green energy from the Middle East and North Africa (MENA) region. He made the remark during a meeting on Thursday with a British Group Inter-Parliamentary Union (BGIPU)... -
Riyadh, Dubai, Kuwait lead MENA in supporting startups as region sees drop in investment levels
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 -
FSRA grants Binance permission to provide crypto custody services
Abu Dhabi, UAE---Binance, world's biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). The permission will enable Binance to provide custody to professional clients, provided they meet the conditions of the FSP... -
High Qatar costs dampen MENA football fervor
Passion for football in the Middle East runs deep, but a week before the start of the World Cup, the fervor is not universal as high costs are keeping many MENA fans away. -
PIF sells 10 percent stake in Tadawul Group at $51 per share
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... -
Video: TOP CEO Conference discusses fake news in May, months later social media giants take action
Facebook, Instagram, Twitter and other social media platforms have reportedly blocked campaigns aimed at influencing opinion in Central Asia and the Middle East. -
Gulf nations secure future with Asian investments
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. -
Video: IMF echoes what TOP CEO Conference forecast about inflation in May 2022 – MENA growth may slow
Inflation has a significant cost-push pressure on cost of living and will impact the daily set of requirements of people in the region, one of the experts had said at the event. -
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Dr. Jihad Azour. -
Most non-oil economies in MENA region seeing ‘gradual slowdown’: IMF
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... -
Wary of online theft, most MENA shoppers still prefer in-store buying
According to a TRENDS poll, fear of being robbed online by fraudsters prowling on the web is keeping many MENA buyers from making their purchase online. -
Online spending set to rise as MENA shoppers start looking for products, offers ahead of holiday season
Consumers in the UAE, Saudi Arabia and Egypt are among the most excited to search for Black Friday compared to Brazil, UK, and US, Google’s internal data suggest. -
Trust in digital services increases across MENA region despite rising online security threats
MENA residents' satisfaction and expectations about how services can and should be delivered have been radically altered due to the COVID-19 pandemic. -
Customers feel better with ‘Buy Now, Pay Later’ plans
Buy Now, Pay Later services provide customers the functionality of credit cards-- easy payments with no cash. But BNPL usually eliminates fees and interest in exchange for an agreement that you'll pay back the loan within a fixed term of up to six weeks.The approval process for BNPL is quick... -
Yellow Door closes $400m equity raise
It plans to deploy $1bn in sustainable energy projects. -
UAE eyes jobs via crypto, metaverse investments
According to a PWC estimate, the MENA region's blockchain market would reach $3.2 billion by 2024, and the UAE is working to become a major player in the field. -
High oil prices keep MENA’s economic health intact
The average price of a barrel of Brent crude oil is expected to be $101 in 2022 and $84 in 2023. However, Brent oil prices may fall to $75/b by 2025 and $70/b by 2027, says a report. -
MENA’s first NFT marketplace NIFTY Souq secures $1.5m investment
The UAE-based NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million in seed investment. Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the US. The seed-fund investment will be used... -
MENA firms need defense mechanism against inflation
Winning firm can still seize the current moment with bold, decisive actions to address the near term, while building strategies for the medium and long term. Supply chain resilience, operational productivity, design-to-value programs, and revenue growth management (RGM) shouldbe the key focus area, they add. -
Bayt survey says 71% of professionals may quit jobs in 2023
When asked why professionals may change their careers entirely, “to find their real passion” ranked first (37%) followed by opportunities to learn and challenge themselves (33%), better compensation (18%). -
Some 72% children fall victim to online threats globally: report
These were the findings of a report from Boston Consulting Group (BCG) and the Global Cybersecurity Forum (GCF), based on a global survey of 41,000 parents and children online in 6 regions and 24 countries. -
Women complain of bias in accounting profession in MENA
In a diversity, equity, and inclusion (DE&I) study in the MENA accounting profession, 63 percent of women across each of the surveyed MENA regions report experiencing bias. -
Lazard hires Citi Saudi CEO
Al-Khatib will support the firm’s operations in MENA. -
Fossil-fuel subsidies hinder MENA’s energy transition
Improving social safety net may provide the space needed to end subsidies, while investment in renewable energy can cut costs and protect households from high prices. -
The melting fortunes of OSN
A once market leader that everyone looked up to, OSN is now a paler version of its former glory. It is struggling to keep up with the competition from Netflix, Shahid, and Disney Plus. -
Why are millionaires flocking to UAE?
By the end of 2022, the UAE is expected to attract more than 4,000 high-net-worth individuals, mostly from India, Russia, Turkey, Egypt, Lebanon, the UK, Saudi and Nigeria. -
Investcorp leads Pre-IPO round in TruKKer
TruKKer is one of the region’s largest online trucking aggregator. -
Tabby launches in Egypt
The shopping app looks to widen its market in MENA. -
TAQA to buy AlMansoori
The Saudi firm will buy UAE company for an unknown sum. -
Gulf countries get more adaptable to open banking
The GCC region is now witnessing an increase in adoption of open banking system and implementation plans are being put in place as regulators set new market policies. -
UAE accounts for 25 percent of MENA digital media subscriptions: Report
UAE’s publishing sector has grown by 150 percent during the current decade and it will reach $650 million in 2030, according to a report by Pricewaterhouse Cooper, which estimates that global media and entertainment services sector will reach $2.4 trillion next year. The report said the UAE accounts for 25... -
Saudi handshake fuels hope for energy-hit Europe
Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify its partners amidst global uncertainties, say experts. -
MENA Forum 2022 to focus on US$250b worth of power projects
The combined investments in the MENA power sector includes US$93 billion which has already been committed. -
WPS Index: Poor show by most MENA countries
Only the GCC countries score high on the Index that measures women’s inclusion, justice and security in 170 countries. UAE was the highest ranked country in the MENA region. -
Startups attract huge investments in MENA
Agritech, proptech and fintech sectors remain popular among investors as the region's startups raise nearly 76% of their capital with UAE-based firms leading from the front. -
Closing the gender gap in MENA may take 115 years
Closing gender gaps remains a critical driver of national prosperity. Countries that invest in all of their human capital and make it easier for their populations to balance work and family life tend to be more prosperous. It may help overcome the current crises and accelerate a strong recovery, the... -
Cyber attacks on network infra focus of MENA ISC 2022 in Riyadh
Rising cyber attacks on network infrastructure in countries across the world, which pose a significant threat to the economies of these countries, will be the focus of the 10th edition of MENA Information Security Conference (ISC) 2022 in Riyadh in September this year. MENA ISC is one of the most... -
MENA gaming sector plays well with new technologies
The region's gaming industry is estimated to be worth $5 billion by 2025 with Saudi Arabia and the UAE leading the growth closely followed by Egypt and Qatar. -
High commodity prices to keep inflation up
IMF has said food prices accounted for about 60 percent of last year’s increase in headline inflation in the MENA region, excluding the GCC countries. -
MENA expects $320bn AI share in economy
Artificial Intelligence market is growing in the Middle East by an estimated 20 percent to 34 percent annually, with GCC region taking the lead. -
MENA eyes key role in making world carbon neutral
UAE and KSA are spearheading decarbonization efforts in Middle East by encouraging enterprises to minimize carbon footprint. Here are a few things others may learn for them. -
MENA nations make some ‘genuine progress’
Several MENA countries have fared well on all three domains of the Genuine Progress Indicator, which has been hailed as a much better metric of a nation's progress than GDP. -
Gulf countries take first steps to bank on metaverse
Payment on metaverse will take place through cryptocurrencies. NFTs and virtual goods will become popular once metaverse becomes mainstream. Therefore, it is curcial for the metaverse that NFTs and virtual property be implemented. Additionally, banks will need to accept cryptocurrency as a form of payment for these products. -
CNN, IMI partner to launch CNN Business Arabic
The news channel will combine the digital first knowledge within the IMI group with the brand recognition and newsgathering capabilities of CNN. -
Aramco sets up digital industries
It has tied up with Cognite to bolster digitization in MENA. -
UAE set to lead MENA metaverse
Firms in the region are now offering better participation, levels of cooperation and communication to their staff through productive workspaces in virtual offices. TRENDS takes a look at the some of the UAE's metaverse initiatives.