The GCC has quickly moved from passive capital allocation into active ecosystem building, spurred on by heavy sovereign capital and large infrastructure bets, setting the region apart from Europe and US markets.
UAE, Saudi equities rebound, record gains
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.
KSA, UAE lead GCC growth amidst global woes
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 rise of the new Arab World
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.
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.
GCC IPOs resilient to volatility hurting other markets
Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher than in Europe.Will Gulf economies expand despite global woes?
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.
Saudi, UAE equities tank as global crude prices slide
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.UAE stocks rise while Saudi market declines
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.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.
UAE equities climb up while Saudi index drops
Propelled by sectors like telecommunications and utilities, the UAE stock exchanges posted gains this week, even as the Saudi equities took a tumble, pulled down by investment and finance.Saudi Arabia is spending big on golf and transforming the sport forever
Since June 2022, when the first Liv Golf tournament funded by Public Investment Fund was played, nine golfers in the top 40 ranking have joined Liv Golf.GCC residents see growth at a time when world fears recession
Most of the respondents in the poll feel that GCC will weather the gathering economic storm and come out unscathed, a view corroborated by the IMF and the World Bank.Foreign assets of Gulf central banks rise post Covid
Here are the details of how GCC countries gained in past four years in terms of foreign assets held by each of the central banks of the region post-pandemic.
OPEC+ output cut ‘a snub’ to Biden and United States
While Saudi Arabia has said it does not use oil as a political tool, US experts see this as a direct rebuff to the Biden administration.
UAE free zone residence visas now valid for two years
The visas currently under process, even those in the last stages of completion, will also be valid for two years only, UAQ Free Zone tells its members.Startups adopt new strategy to survive post pandemic
Post pandemic, startups, SMEs, and entrepreneurs must adopt a new mentality to scale their enterprises and survive, says Awfa Mustafa, CEO of Najahi Events.Saudi growth in 2022 to outpace Asian giants
The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy production.Saudi stocks shine, while UAE’s post losses
GCC markets had a mixed week as Saudi stocks powered by the banking and commodities retail sectors posted gains, while the UAE stocks tanked, ending the weeks with losses.UAE’s mobile internet fastest in Arab world
According to the Digital Quality of Life Index by VPN provider Surfshark, Denmark has the best digital quality of life in the world.
Uncertainty rules even as MENA crypto market grows
Crypto investors fear a possible global recession, especially amidst weak economic activity data, Wael Makarem, Senior Market Strategist - MENA at Exness, tell TRENDS.UAE solar energy leader in Arab world
Arab countries are constructing solar and wind energy plants with a total capacity of 73.4 gigatons, which is nearly five times the region's current renewable energy production.Kuwait has strongest passport in MENA region
Henley Passport Index 2022 ranks 199 countries for the strength of their passports. Japan was ranked first, followed by Singapore and South Korea.
A week of mixed fortunes for GCC equities
The UAE bourses ended the week high with help from foreign investors, but the Saudi equities took a tumble under selling pressure.
Hotel occupancy rate points to UAE tourism recovery
The total number of hotel guests in the UAE rose to 10.5 million during the first half of 2022, up from 8.3 million during the same period last year, latest research by Colliers suggests.Julian Assange: Black eye of free press
Whether it is the killing or state-sponsored arraignment of journalists or the closure of defiant media organizations, press freedom is under huge stress around the world.Facial recognition helps GCC banks verify, curb frauds
The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or replicate, and faces cannot be lost, says an expert.Unified financial network set to boost Gulf economies
GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother for citizens and residents.
G42 launches $10bn technology growth fund
The fund, to be managed by a subsidiary of G42, will invest in late-stage growth companies with disruptive technologies and strong business fundamentals in an effort to accelerate global innovation.Dubai most transparent Arab real estate market
The emirate was ranked 31st in the world on the Global Real Estate Transparency Index 2022, which is based on a global survey.Beirut named most expensive city in Arab world
The cost of living in Beirut is also more than its purchasing power, which is the lowest among Arab cities. Lebanon is experiencing its worst ever economic crisis.Dubai most expensive city in Arab world
Mercer’s 2022 Cost of Living City Ranking ranks the emirate the 31st most expensive city in the world.Crises put Gulf investments in Sri Lanka at stake
The region has invested billions of dollars across sectors in the South Asian nation as recent past witnessed an expansion in economic and trade relations between the two sides.
PPP projects inject more vigor into Saudi healthcare
The Kingdom is stepping forward and allowing the private firms to invest in healthcare infrastructure, Sandeep Sinha, Head of Healthcare Consulting - MENA at JLL, tells TRENDS.Dubai makes rental payment hassle free
An agreement between Dubai Land Department and Emirates NBD eliminates the need for manually managing postdated cheques submitted to landlords.
UAE equities gain, Saudi market posts losses
Abu Dhabi and Dubai stock markets climbed up, while the Saudi index tanked down by more than 1.1 percent this week, after being shut to mark the festival of Eid al-Adha.
‘GCC inflation still remains lesser than UK’
The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the GCC, says Simon Ballard, chief economist of First Abu Dhabi Bank.
Growth in focus as UAE signs CEPAs with key nations
Since February this year, the Gulf country has inked Comprehensive Economic Partnership Agreements with India, Indonesia and Israel. Trade deal with Colombia is also imminent.Saudi Index at lowest levels since January
Saudi Stock Exchange's general index fell by nine points. Abu Dhabi market was below 9,200 points, Dubai market rose above 3,200 pointsNFTs: Digital way to own art, music, videos
Everything is open-sourced, permission less and on-chain, Holaplex CEO Alex Kehaya tells TRENDS on the rising popularity of NFTs.
Global personal luxury goods market hits US$300bn
The market benefited from an exuberant 2021 holiday shopping season across the regions, with a seven percent increase over the same period in 2019.
GCC central banks raise interest rates
Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised interest rates, too, to tame soaring inflation.Realty helps UAE’s economy settle into new normal
The UAE's residential real estate market is poised to grow at a CAGR of 12.36 percent by 2026, Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa tells TRENDS
Sustainability meets affordability at smart UAE homes
With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa.Tourism helps Saudi economy diversify away from oil
The kingdom eyes over 70 million visitors this year as the country jumps from 43rd to 33rd spot on the global tourism ranking, says Saudi Arabia's assistant tourism minister.
Digitization to see more GCC women enter workforce
Although the number of female STEM graduates is high in GCC, this couldn't translate into proportionate increase in workforce, says Christine Harb from Global Brand Council at VISA.Aramco, Etisalat top list of GCC’s valuable firms
Although the last several months have been hard for listed businesses in the Middle East, yet many have defied the dire predictions to dominate capital markets.Soaring food prices stoke inflation worries for KSA
Saudi Arabia may see a rise in inflation as global food and energy prices surge amidst the ongoing Russia-Ukraine war, Alexander Perjessy of Moody’s Investors Service tells TRENDS.
GCC IPOs raise $4.8bn in 2022, outpacing Europe
May Nasrallah, founder of deNovo, tells TRENDS the new listings on GCC bourses have spawned a new chapter in regional listings, ending years of drought.GCC firms should focus on digital change: QIB chief
Bassel Gamal, the Group CEO of Qatar's second-largest bank, tells TRENDS that leaders should empower their employees to make decisions.‘Workplaces must prioritize mental health’
In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz Communications Managing Partner Khaled Almaeena tells TRENDS.
