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Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes, sweets sets, and themed gift hampers.
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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. -
Incubeta buys Bruce Clay
The purchase will help the firm to expand in the MENA region. -
Oil revenues help boost MENA economic growth
Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023, according to the World Bank. Find out the country-wise breakup. -
More MENA businesses now swipe virtual credit cards
Local lenders are offering more services online to cater to a young, tech-savvy consumer base, speeding up the transition of the $200-billion digital business in the Middle East. -
UAE attracted nearly $21 billion of FDI in 2021: Minister
The UAE succeeded in attracting more than $20.7 billion of Foreign Direct Investment (FDI) in 2021, which reflects the confidence of investors worldwide in the country's economy, said UAE’s Minister of Economy Abdullah bin Touq Al Marri. This came during his keynote speech at the UAE-Kyrgyzstan Business Forum, which was... -
Arada issues $350m Sukuk
The deal has been listed on the London Stock Exchange. -
Menarini opens office in Dubai
The Italian pharma giant is looking at expansion in MENA. -
Gulf Print and Pack 2022 concludes, records deals worth $6.8m
The Gulf Print and Pack (GPP) 2022 concluded at the Dubai World Trade Centre, recording deals worth more than AED 25 million. GPP organisers said the decision to move from a four-day show in past editions to a three-day event in 2022 was vindicated with daily attendance increasing by 15... -
Yalla Group Q1 revenue is Dh 265m
Yalla is leading UAE-based voice-centric social media platform. -
Physical security adds to digital transformation
Cybercrime has risen to the forefront of physical security concerns. And big firms are acutely aware of the problem, says Ephrem Tesfai from Genetec tells TRENDS. -
Ukraine war to hit MENA’s poor nations, boost oil-producers: IMF
The International Monetary Fund's 2022 growth forecast for the region, which includes Arab countries and Iran, was forecast at 5.0 percent, up from the 4.1 percent prediction for this year made in October. -
MENA region saw $2.88bn startup investment in 2021: Report
The report also claimed that the value of early-stage deals for startups in the region doubled from 2020 to 2021. -
Morocco: World Bank forecasts 1.1% growth in 2022, 4.3% in 2023
"Growth in Morocco is projected to slow to 1.1 percent in 2022, as agricultural output declines by 17.3 percent due to the drought,” the WB said in its latest MENA Economic News Bulletin. -
World Bank says war in Ukraine raising risks for Middle East
The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and energy prices, the World Bank said, warning of potential social unrest. In its latest update the development lender said inflationary pressures set off by Covid-19 "are likely to be exacerbated"... -
Covid, digital transformation push GCC cloud growth
Businesses in the region are increasingly adopting cloud to protect their data, apps and infrastructure from fraudulent activities while supporting compliance and confidentiality. -
How do MENA oil prices compare with the world?
Prices of crude oil have skyrocketed across the world, thanks to the Russian invasion of Ukraine and the subsequent sanctions placed on Moscow. -
GCC keeps pace with global solar, wind trends
Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when it comes to power generation. -
e& to pay AED0.4 dividend
The total annual dividend for 2021 is now Dh0.8 per share. -
President of World Banks says MENA must create 300m jobs
To achieve development goals, the MENA region must create three hundred million jobs, according to President of the World Bank David Malpass. -
UAE fast-tracking low-carbon economic growth: Dr Al Jaber
Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive approach to climate action. -
Ukraine war sends Middle East food prices soaring: Guterres
The world must not forget the millions of people in need across the Middle East and North Africa, UN chief Antonio Guterres told the Security Council. -
UAE e-commerce hits $5bn in 2021, may surpass $8bn by 2025
E-commerce in the UAE surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025, according to a data released by EZDubai, a dedicated e-commerce zone in Dubai South, in partnership with Euromonitor International, a global business intelligence, market analysis and consumer insights provider. More... -
Saudi startups collect 58% of $375m in funding in MENA
Saudi startups have secured 58 percent of the total $375 million in funding in the MENA region in February. -
Dubai International Boat Show to feature 800 brands from 54 countries
Dubai International Boat Show (DIBS), which will be held from March 9 to March 13, will witness 34 launches and feature global marine attractions from more than 800 brands. This is MENA yachting industry's first international in-person event since the COVID-19 pandemic. It will run at Dubai Harbour. Exhibitors from... -
Etisalat rebranded e& in pursuit of global tech and investment ambitions
UAE’s biggest telecom operator Etisalat will now be called as e& after its rebranding on Wednesday, which was launched by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs. The rebranding comes as the group seeks to become a global technology and investment conglomerate. Mansour... -
WB ready to pair with Tunisia to implement reform program
The World Bank has also offered to continue the implementation of ongoing cooperation projects in the country. -
Growth picks up as MENA drives into EV market
Rising prices of metals, elements, and compounds used in EVs could be a headache, but the MENA region and the world are already working to offset it. A few right policy moves will help economies like the UAE and Saudi Arabia to diversify their economy, especially away from oil and... -
Transformation will propel MENA economy: IMF
Major economies in the MENA region have already got the ball rolling when it comes to diversifying their economies. -
Disney takes on OTT platforms with MENA expansion
Netflix currently rules the roost in the Middle East. Therefore, the Disney+ expansion should be a clarion call for regional OTT platforms. -
Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures
The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global Ventures -
Gulf watch: Sectors that will grow most in 2022
The business environment in the region will experience a transformation that will have a far-reaching impact on economic trends and social dynamics. -
GCC must heed IMF take on emerging economies
The IMF's warning that developing nations are about to face what it called “economic turbulence” is bad news for the GCC as it may hamper the revival of regional economies. -
Biggest MENA steel event begins at Expo Centre Sharjah
The exhibition highlights state-of-the-art innovations of more than 400 world-leading brands from 30 countries -
Saudi Arabia GDP to gain in 2022: Kuwait Financial Center
Government spending on infrastructure projects as part of the Vision 2030 program is expected to boost non-oil GDP growth. -
Mumzworld CEO says committed to supporting Mideast businesswomen
Mumzworld has over 350 staff, with over 6,000 brands and more than 300,000 products for sale on the website, and a business that has created momentum for other women to succeed and create more jobs in the region -
Abu Dhabi National Aquarium is the largest in Mideast
An estimated one million people a year are expected to visit the aquarium housing marine animals in ten distinct habitats under the supervision of marine life experts. -
Top company leaders highlight priorities for MENA governments at CEO Dialogue
Top company leaders highlight priorities for MENA governments at CEO Dialogue Leaders of top regional and international companies in the Middle East and North Africa region highlighted crucial priorities for governments and the cooperation needed with international organizations and the private sector for promoting a sustainable economy. They were speaking... -
The UAE joins SESAME as a member with observer status
Minister Al Kaabi indicated that the achievement will enhance the nation’s scientific capabilities and enable its scientific and industrial organizations to develop more creative solutions to challenges. -
Emaar Properties tops Forbes list of 50 Middle East real estate firms
Forbes Middle East also unveiled a ranking of the "Top 10 Construction Companies in MENA 2021". -
Mubadala and AD Gaming sign MoU
Both will cooperate to build a gaming and esports ecosystem in UAE. -
Omicron batters indices across MENA
Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’ weighed heavily on investors’ minds. -
Qatar is first MENA country to host POW! WOW! Festival
The POW! WOW! international mural festival is being hosted by Qatar Museums under the umbrella of the JEDARIART initiative. -
Schneider Electric says electricity use in Iraq rising annually by 10 percent
Consumption of electrical energy is increasing by 10 percent annually in Iraq, which necessitates a robust distribution network, said the French company Schneider Electric. Schneider has signed an MoU with Iraq's Ministry of Electricity for the development of the electric power distribution network in the country, local media reports said.... -
Fintech fuels MENA startup scene
It is vital for the economic development of the Middle East by fostering innovation, entrepreneurship and creating large-scale employment opportunities in the region, says an expert. -
Meta launches MENA campaign against child abuse
In the eye of the storm of allegations that it did not act against child abuse, Meta said the campaign will prevent exactly those things. -
Mena students in US are a changing demographic
The factors that draw students to the US include the learning environment, a global perspective, and better employment prospects. -
VentureSouq launches FinTech Fund
The fund invests in early stage FinTech and SaaS companies.