Analysis Energy UK firms look to power the UAE’s energy transition The UAE’s commitment to a net zero future is being increasingly recognised worldwide and capturing the attention of global partners including Britain. A case in point is London-based Desolenator, the world’s first solar thermal desalination technology company, delivering net-zero clean water at scale to companies and communities. It uniquely uses both solar-generated heat and electricity […] August 8, 2022
Tech Dubai ranks 18th in new index of top digital cities Dubai is the only Middle Eastern city to be highlighted in the Digital Cities Index (DCI) 2022 – a new ranking of 30 global cities across four key pillars: connectivity, services, culture and sustainability. Ranked 18th with an overall score of 63.8, the city’s position highlights its forward-thinking approach to the digitised economy, underpinned by […] August 5, 2022
Analysis Development Western views on Arabs ‘outdated’, says Blair think tank Western perceptions of the Arab world are out of synch with the modern reality, argues a new 73-page report published by the Tony Blair Institute for Global Change. “On average, less than a quarter of those polled in Western countries believe that people in the Middle East share all or most of the same values […] August 2, 2022
Analysis The billion-dollar question: what does it take to make a unicorn? Can the UAE meet its target of being home to 20 unicorns by 2031? Only if entrepreneurs, venture capital and the government work together to build companies that can truly “translate across borders”, according to experts. Today the UAE has just three startups valued at $1 billion: Vista Global, Emerging Market Property Group and Kitopi. […] August 1, 2022
Analysis MENA startup funding poised to recover in second half of 2022 Last year was a standout for Middle East and North African startups in which many notable records were broken, including the largest funding round to date and the highest number of deals. The total amount of investment raised by regional startups was pushed to $2.8 billion across 639 deals. This constituted a quadrupling of investment, […] July 29, 2022
Analysis Banking and Finance Global Islamic fintech market set to hit $179bn in 2026 The global Islamic fintech market recorded $79 billion in transaction volumes in 2021. And it is expected to grow by around 18 percent annually to reach $179 billion by 2026, according to the Global Islamic Fintech (GIFT) Report 2022 launched on Thursday. “Covid and the subsequent digitisation push has helped to accelerate the pace at […] July 29, 2022
Analysis Banking and Finance Saudi bank assets hit $879bn thanks to mortgages and oil Saudi Arabian bank assets grew by 10 percent to reach SR3.3 trillion in assets ($879.43 billion) in 2021, buoyed by the kingdom’s booming mortgage market and a sharp rebound in oil revenues. That’s according to global rankings from The Banker published earlier this month, which also shows that the kingdom’s credit grew by 15.5 percent […] July 22, 2022
Analysis Biden Middle East ‘Could do better’: the experts’ verdict on Biden in Middle East Did the US president achieve his objectives on his tour of the Middle East? AGBI asked seven analysts to give Biden marks out of 10 President Joe Biden hoped to usher in a new era in Washington’s relationship with the Middle East during his whistlestop tour last week – seeking to reinforce America’s commitment to […] July 19, 2022
Analysis Biden Middle East Biden boosts relations but fails to move the dial The president hoped to reset Washington’s relationship with the Middle East last weekend. In this in-depth analysis, AGBI explores how he performed on Israel, Iran, human rights and oil President Joe Biden’s whirlwind tour of the Middle East sought to reinforce America’s commitment to the region after several years of disengagement. In a speech to […] July 19, 2022
Analysis People & Lifestyle Biden’s first win: Saudi Arabia opens airspace to Israel Saudi Arabia has announced it will open its airspace to all air carriers, including Israeli flights – marking a stepchange for the kingdom which has a historical stance of not officially recognising Israel. The Saudi General Authority of Civil Aviation (GACA) issued a statement on Thursday saying that the country’s airspace was now open to all […] July 15, 2022 In association with
Biden Middle East What the papers say: Day two of Biden’s Middle East trip A round up of the opinion and views published by regional and international media on US president Biden’s trip to the Middle East. LOCAL PAPERS: Saudi Arabia’s Arab News: Saudi Arabia, US have chance to reenergise their relationship Arab News ran an opinion piece authored by Dr Abdel Aziz Aluwaisheg, the GCC assistant secretary-general for […] July 15, 2022
Analysis Development I2U2: America’s answer to curbing China and upping food security Israel, India, the US and the United Arab Emirates came together on Thursday for an historic meeting as the “I2U2” collective. The futuristic name refers to the first letters of the four countries. US president Joe Biden and Israel’s prime minister, Yair Lapid, lent the initiative a maiden boost, joining a four-way call in Jerusalem […] July 14, 2022
Biden Middle East What the papers said: Day one of Biden’s Middle East trip A round up of some of the opinion and views published by regional and international media on US President Biden’s trip to the Middle East. LOCAL PAPERS: Abu Dhabi’s The National: Joe Biden’s trip to Jerusalem met with ambivalence and optimism The National noted that while there is cautious optimism that Biden will help to […] July 14, 2022
Biden Middle East US and Israel sign pledge to deny Iran nuclear weapons US president Joe Biden and Israel’s prime minister Yair Lapid today signed a joint pledge to deny Iran nuclear weapons, closing ranks on Tehran. A senior Biden administration official said the agreement will expand on the long-standing security relationship between the United States and Israel. “This declaration is pretty significant, and it includes a commitment […] July 14, 2022
Analysis Economy Muslims defy pandemic to spend $2trn globally in 2021 Bucking the global trend of tightening the purse strings, the world’s 1.9 billion Muslims spent the equivalent of $2 trillion at the height of the Covid pandemic. This spending reflects an 8.9 percent year-on-year growth from 2020 across a range of sectors offering halal food, pharmaceuticals, cosmetics, fashion, travel, and media/recreation. According to the 2022 […] July 13, 2022
Analysis Biden Middle East Biden’s Saudi visit is a test of pragmatism over populism Ever since the White House announced in June that US President Joe Biden would be embarking on a trip to the Middle East – the first of his presidency – the possible motives behind it have been the subject of keen debate. Slated to take place from July 13-16 the trip has also been the […] July 8, 2022
Analysis People & Lifestyle Security is what MbS wants most of all from Washington As the architect of Saudi Vision 2030, Crown Prince Mohammed bin Salman quickly won plaudits the world over as a great moderniser and the face of reform in the kingdom. But the killing of Washington Post columnist Jamal Khashoggi in 2018 complicated matters. Shunned by many leaders – both political and business – MbS has […] July 8, 2022
Analysis Economy UAE seeks 27 trade deals as global growth slows Global trade growth is forecast to remain resilient this year, expanding at a rate of three percent, despite a fierce onslaught of headwinds, according to the Dubai Multi Commodities Centre. But that represents a significant slowdown from nearly 10 percent in 2021 when global trade hit a record-high of $28.5 trillion. DMCC’s Future of Trade […] July 6, 2022
UK Morocco trade envoy resigns amid Johnson leadership crisis Boris Johnson, the British prime minister, is set to resign today following a swathe of party resignations. Among those to submit their resignation was Dr Andrew Murrison, trade envoy to Morocco, who submitted a strongly-worded letter yesterday saying that Johnson’s position had become “unrecoverable” over his handling of the row over disgraced deputy chief whip Chris […] July 6, 2022
Analysis Real Estate Prime London property one third cheaper for Arab investors Wealthy buyers of prime London property have already seen prices fall since the start of this year, but Gulf buyers have been enjoying an additional dollar discount bonus thanks to their home currencies being pegged to the US currency. “The dollar has strengthened against all major currencies including the pound since January,” said Liam Bailey, […] July 1, 2022
Analysis Banking and Finance UK Islamic fintech wants to take on the world UK fintech has enjoyed meteoric growth in recent years, and Islamic fintech has been a key part of that success. AGBI speaks to industry experts to get the inside track on the sector’s development UK fintech investment hit $37.3 billion in 2021, up sevenfold from $5.2 billion in 2020, according to figures published by global […] June 24, 2022
Analysis A UK recession may spook Arab investors – or present an opening The economic outlook for the UK has grown progressively bleaker over recent months. After contracting 0.1 percent in March, Britain’s economy shrank by a further 0.3 percent in April, marking the first back-to-back declines since the onset of the global pandemic in March 2020. Last week the pound plunged to its lowest level against the dollar […] June 23, 2022
