Becoming AI-native starts with a shift in mindset. To harness its full potential, we need to see AI not as a product but as a partner. It’s less about which model you’re using and more about how you use it, writes Cloke, CTO Endava.
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly stand out.
Rising data breach hits Middle East’s financial sector
In 2023, data breach costs in the Middle East soared to $8 million, marking a 155.9% rise over a decade, with the financial sector bearing the brunt, a report points out.Challenges prevail as UAE adapts to remote work
The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Dogerty of Connect Resources tells TRENDS.GCC deals with rice shortage amid Russia-Ukraine war
The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export bans, disrupting global supply chains.UAE tops MENA startup funding, followed by KSA, Egypt
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.Thriving businesses elevate UAE’s position globally
The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups.Upskilling key to offset AI banking job losses
Increasing adoption of Artificial Intelligence in banking operations could lead to automation of nearly 52 percent of jobs by 2025. Experts recommend upskilling, training and continuous learning to adapt to the change.Arabian Nights in Malaysia: Middle Eastern cuisine and adventure await Arab tourists
Malaysia's Bukit Bintang district offers a delightful fusion of Middle Eastern cuisine and bustling tourist attractions to charm Arab travelers.Adaptability, innovation crucial for success in Dubai’s competitive F&B industry
Commitment, market awareness, and adaptability are keys to success in Dubai's highly competitive F&B industry, says Deepti Chawla of Infiniti Holdings & DCloud Kitchens.
Israeli settler violence wreaks havoc on Palestinian economic growth and internal trade
Clothing stores, restaurants, tourism establishments and hotels are experiencing a sixty percent drop in business due to intensified violence, an expert tells TRENDS.UAE tops MENA region in overall skill proficiency
Learners across the country excel in business skills, communication, leadership, management, and human resources skills, Coursera's latest Global Skills Report points out.
Resumption of Saudi-Iran relations: A step towards regional, economic stability or a strategic play?
The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to a peaceful place. Dive into an in-depth analysis from TRENDS.US supports China’s bid to advance Middle East peace
Saudi-Iran peace deal will reduce tensions in the region and would solve some of the problems if not all, says US Secretary Antony J. Blinken in an interview.GCC banking’s tech shift saves time, money
GCC banks started adopting online and mobile banking, and ATMs, in the 1990s and 2000s. More recently, they've integrated advanced technologies like AI, blockchain, and big data, enhancing customer service and fraud detection.New life breathed into Tunisia’s bagpipes
Known as Mizwad, the Tunisian bagpipe was once banned from airwaves but has now been embraced by artists infusing its sound into new musical styles.Luxury car market rides on sustainability
A shift in consumer preferences -- with a substantial percentage of sales coming from smaller and midsize vehicles -- hasn't dented the appeal of luxury cars, says Peter White, Sales Director at Audi Middle East.TRENDS Poll: 38% feel AI threatens their jobs
New job opportunities are expected to emerge, but only individuals with advanced technological skills and education would be eligible for them.Changing customer demand, other challenges keep GCC marketing and event industries in evolution mode
Challenges faced by the two industries include shifting preferences, increased competition, budget limitations, talent shortages and post-COVID-19 changes, says a UAE-based expert.
TRENDS Poll: 36% believe GCC banks threatened by US, Europe banking crisis
Due to the GCC's strong linkages with the global banking system, concerns have risen that the banks in the region will face the same struggles.Gulf investments fuel Turkey’s economic growth
The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country.Saudi Arabia leads Arab world in gold reserves
The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in the Arab countries. Qatar, UAE and Kuwait are also regional leaders.TRENDS poll: Saudi-Iranian thaw raises stability hopes
A majority of the people who voted in a TRENDS poll see the China-brokered deal between the two countries as a positive development.
GCC central banks align rates with US Fed Reserve
The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate.UAE’s Sultan AlNeyadi achieves groundbreaking milestone as first Arab to perform spacewalk
The mission objectives included crucial tasks such as routing power cables and retrieving a Radio Frequency Group unit, contributing to the station's operational capabilities.
Saudi Arabia jumps to fifth place in global military expenditure: Report
The country increased its military spending by 16 percent to reach an estimated $75 billion, surpassing the United Kingdom, Germany, and France.
Two Saudi astronauts, one of whom a woman, will launch into space on May 9
Barnawi and fellow astronaut Ali Al-Qarni will blast off from Florida on a private mission to the ISS, the officials from the SSC, Axiom Space, NASA and SpaceX said in a briefing.
TRENDS Poll: Inflation takes biggest bite from Gulf household incomes during Ramadan
The poll discovers people struggling across the Middle East to cope with high cost of living in the holy month of Ramadan, with inflation in some places reaching 100.Regulatory clarity to help GCC region unlock full potential of Metaverse, cryptocurrency markets
Data privacy, security, consent management, safety, integrity, equity, inclusion, accessibility, affordability, and protection of virtual asset ownership remain key concerns.Luxury, safety, modernity keep UAE hospitality ahead
The hospitality industry's future looks bright, with the GCC emerging as a major hub for both international and domestic travel, Naim Maadad of Gates Hospitality tells TRENDS.
New Saudi law brings in new businesses, more FDI
The New Companies Law simplifies the procedures to set up foreign businesses in Saudi Arabia, and removes several restrictions, says James Swallow of PRO Partner Group.Road to GCC smart cities viable, but not hurdle-free
Integrating smart roads and sustainable construction in GCC smart cities requires technical proficiency like data analytics, sensor technologies and software skills, says an expert.TRENDS poll reveals women in GCC not paid less salaries than men
While many women still believe they are not adequately compensated, men, in contrast, have a different view, with many saying women are paid the same as men.UAE, Qatar least corrupt Arab nations
The 2022 Corruption Perception Index says corruption is undermining democratic processes and fueling violence in the Middle East and North Africa region.Tough laws, quotas may plug GCC gender gap
Despite being the most educated demographic, women in the region have the lowest employment rates. it is crucial to incorporate women into non-traditional sectors to facilitate the GCC's shift towards a post-oil economy.Slower GCC growth expected in 2023
The region's biggest economy, Saudi Arabia, was projected to accelerate to 8.3 percent in 2022 before moderating to 3.7 percent and 2.3 percent in 2023 and 2024.
Qatar eyes 1.5 million Saudi tourists in 2023 after thaw in bilateral relations
Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar Tourism's data suggest.Netanyahu will safeguard ties with UAE, KSA despite pressure from far-right allies: Israel’s ex-minister
However, economic and people-to-people ties between Israel and its Abraham Accords partners will be affected due to the hard right nature of Israel’s coalition, says Esawi Frej.Giga projects attract more foreign banks to KSA
At least six banks, seeking to open branches in Saudi Arabia, have obtained licenses from the Saudi Central Bank to conduct operations in the Kingdom in the coming months.Entertainment may add 4.2% to Saudi GDP by 2030
As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000 job opportunities in the Kingdom.Jordan lowest bribery risk Arab nation
North Korea, Turkmenistan, Equatorial Guinea, Syria and Venezuela present the highest commercial bribery risk, said the TRACE Bribery Risk Matrix 2022.
Strong economies help GCC survive global chaos
Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights.Dubai realty sector posts record sales in 2022
Real estate sector experts say facilities like Golden Visa were fueling expatriate interests in owning a property in the emirate.E-commerce registers 200 percent growth in GCC
The sector gains meteoric traction, largely due to structural shift in consumer interests and partly because of the pandemic-induced accelerated digitalization, says an expert.ESG may witness higher traction across GCC this year
Some investment trends that emerged at the tail end of 2022 — clean energy, consumer staples, retail, and infrastructure — will gain further impetus in 2023, says an expert.
GCC investment in non-oil sectors grew in 2022
GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies.
GCC retail sales pin hope on high consumer spending
Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC are reporting increased sales due to rising inflation and consumer spending on basics, says a survey.Most Middle Eastern nations lack crypto regulations
The adoption of digital currencies can help open new business segments as the use of these assets increases with time, Daniel Takieddine, CEO of MENA BDSwiss, tells TRENDS.35.6% rise in Saudi women’s economic participation makes TOP CEO Conference’s May predictions true
The confirmation of an increased participation of women in workplace comes months after the TOP CEO Conference held in May 2022 had highlighted its economic justifications.Resilience helps UAE banks face global challenges
Growing assets, increased financing, and enhanced capital adequacy ratios reflect the sector’s resilience and ability to adapt to changes in the world, say key bankers.Technology, sustainability sectors among the most booming and awarded ones across GCC, says expert
The three sectors help the regional economies grow and offer better life to people, Takreem founder Ricardo Karam tells TRENDS while discussing various topics, including awards
