Analysis Artificial Intelligence ChatGPT’s search expansion raises concerns for businesses OpenAI’s decision to roll out its ChatGPT search to all users could indicate a shift in how people access information online and pose challenges for Gulf businesses when it comes to issues such as online advertising, data privacy and revenue models. The feature, introduced to premium subscribers two months ago, allows users to receive real-time […] December 19, 2024
Finance Gulf central banks follow US Fed with rate cuts Key Gulf central banks lowered interest rates in line with the US Federal Reserve’s benchmark rate reduction by 25 basis points (bps) on Wednesday. The Central Bank of the UAE reduced the base rate on its overnight deposit facility by 25 bps to 4.4 percent from 4.65 percent, effective from Thursday. Saudi Arabia cut repurchase (repo) […] December 19, 2024
Oil & Gas Opec+ wary of rise in US oil output under Trump Opec+ members are contemplating a renewed rise in US oil output when Donald Trump returns to the White House, delegates from the group said. More US oil would further erode Opec+ market share and hamper the producer group’s efforts to support prices. Opec+ pumps about half of the world’s oil and earlier this month delayed […] December 18, 2024
Markets US fund managers expected to accelerate Gulf investment North American fund managers are underinvested in Gulf equities but that may soon change, according to new research. The region’s low correlation to global and other emerging markets, accelerating economic diversification and improving bourse diversification could make Gulf investments more attractive. Saudi Arabia (4.41 percent), the UAE (1.28 percent), Qatar (0.86 percent) and Kuwait (0.84 […] December 17, 2024
Opinion Infrastructure Rebuilding Syria would revive its nexus status A stable environment in Syria, Lebanon and Iraq would encourage an influx of foreign capital December 16, 2024
Analysis Health Gulf’s growth in retirees drives demand for senior services Changing demographics globally are paving the way for a new seniors industry in the Gulf. UAE-headquartered Aster DM Healthcare and Bahrain’s GFH Financial Investment Group are Gulf household names that have entered this fledgling but promising business with targeted medical and property services. The baby boomer generation now ranges between 60 and nearly 80 years […] December 16, 2024
People & Lifestyle Global inspirations for Dubai’s ‘walkability’ mission From Singapore to Bologna, Dubai should cast its net wide for examples in its ambitions to transform into a pedestrian-friendly city December 16, 2024
Analysis Banking and Finance The ‘race is on’ to set up bitcoin national reserves The concept of national bitcoin reserves is moving from theoretical discussion to geopolitical reality. A member of Russia’s parliament has called on its central bank to consider bitcoin as a reserve asset, it was reported last week. Thirteen nations already hold the cryptocurrency, according to a report released this month by bitcoin exchange River. The […] December 16, 2024
Opinion Business of Sport Taking Saudi Arabia’s World Cup 2034 from ambition to reality It should focus on multipurpose, practical stadiums that serve communities long after the final whistle December 13, 2024
Analysis Oil & Gas IEA and Opec agree on one thing: 2024 demand was down The Organization of the Petroleum Exporting Countries (Opec) and the Paris-based International Energy Agency (IEA) traditionally diverge strongly in their forecasts for the oil markets. While this is still the case – the IEA’s 2024 forecast for oil demand growth is about half that of its oil producing rival – the duo’s latest monthly reports […] December 12, 2024
Opinion Trade Kaizen meets Vision 2030: Japan’s expanding role in Gulf growth Trade with the GCC is already almost $100 billion in imports and exports December 12, 2024
Tech Astra Tech secures $500m funding for lending platform Dubai technology company Astra Tech has secured $500 million in financing for its fintech subsidiary, enabling it to further expand its consumer lending platform. Quantix Technology Projects, which in July was the first UAE-based fintech to receive a finance licence from the UAE central bank since 2008, secured the financing from Citi, in what is […] December 11, 2024
Analysis Finance Cultural factors reduce risk for Gulf BNPL providers Buy-now-pay-later companies in the US and Europe have endured prolonged losses due to high operating costs and rising customer defaults, but BNPL operators in the Gulf may be faring better thanks to differing market dynamics, according to analysts. BNPL has soared in popularity in many regions as an easy and cheap form of consumer debt, […] December 11, 2024
Markets ADX ripe for international investment, say asset managers The Abu Dhabi Securities Exchange remains a sleeping giant for international investors despite the huge sums raised from recent ADX listings, speakers said this week at the emirate’s annual financial showcase. There have been 23 notable initial public offerings of UAE companies since the start of 2021 – 14 on the ADX and nine on […] December 11, 2024
Trade UK company to open ‘miracle material’ factory in Saudi Arabia The world’s first commercial production facility for graphene-enriched carbon fibre is to be built in Saudi Arabia, its backers have announced. Graphene Innovations Manchester (GIM) – a UK company that is developing the “miracle material” said to be stronger than diamond, more conductive than copper and more flexible than rubber – has signed an agreement […] December 10, 2024
Artificial Intelligence US clears export of advanced AI chips to UAE The US has approved the export of advanced computer chips used for artificial intelligence to the UAE, reports indicate. Under the agreement the UAE will allow exports to a Microsoft-operated facility for use by Emirati state-backed AI company G42. Microsoft has invested more than $1.5 billion in G42 and holds a minority stake and board […] December 9, 2024
Education Mergers and acquisitions to fuel Saudi education growth Mergers and acquisitions will play a vital role in the future of Saudi Arabia’s lucrative education sector, which could offer returns in the region of high double-digits, according to an industry expert. There has been a flurry of M&A activity in education in recent weeks. Maarif, one of the largest education companies in the country, […] December 9, 2024
Analysis Food & Drink Pro-Palestinian cola brands to launch in Middle East Two pro-Palestine soft drinks brands launched this year as Coca-Cola and Pepsi alternatives are planning to debut in the Middle East in the coming months. They are the latest to take advantage of a market that appears to be moving away from US brands that are perceived to support Israel in the Gaza conflict. In large […] December 8, 2024
Aviation Middle East airlines report lowest demand rise Middle Eastern carriers reported a 2.2 percent year-on-year increase in passenger demand in October, the lowest across all regions, according to the International Air Transport Association (Iata). Capacity increased 2.5 percent, while the load factor fell marginally lower at 80.2 percent year on year, Iata reported. Asia-Pacific airlines reported the highest year-on-year increase in demand […] December 6, 2024
Analysis Finance Gulf could turn a crisis into opportunity with catastrophe bonds Torrential rains, flash floods, cars adrift in streets turned into rivers – these are scenes often seen these days, from Malaysia to Valencia. They are also becoming more common in the Gulf. Flooding in April 2024 in the UAE, for example, killed five people and cost $1.8-$2.3 billion in property damage, according to Gallagher Re […] December 6, 2024
