Opinion Business of Sport The Gulf’s bid for global dominion in sport Governments are spending billions in the hope it will accelerate economic transformation July 5, 2023
Aviation Air India-Vistara scrutiny ‘is good news for Gulf carriers’ An inquiry into the planned merger between Air India and Vistara will be welcomed by Middle East airlines, as they look to increase their share of the lucrative Indian market, an aviation expert has said. India’s anti-trust commission is investigating the proposal over competition concerns, which could delay or even block the deal altogether. Previously […] July 3, 2023
Banking & Finance Mena wealth funds sharpen up on sustainability Mena sovereign wealth funds’ efforts to improve their governance and sustainability practices to meet global standards appear to be bearing fruit, as they recorded the biggest improvement of all regions in a new analysis. Data platform Global SWF assessed the performance of 100 sovereign wealth funds and public pension funds on their governance, sustainability and […] July 3, 2023
Opinion Tech The triad that secures blockchain Confidentiality, integrity and availability are all challenges as the Middle East adopts new technology July 2, 2023
Energy Global economic headwinds to restrain oil prices in 2023 Oil prices will struggle for traction this year as global economic headwinds stymie gains that could be fuelled by a rebound in China and Opec+ cuts, a Reuters poll showed on Friday. The survey of 37 economists and analysts forecast Brent crude would average $83.03 a barrel in 2023, versus the $84.73 consensus in May. […] July 2, 2023
Opinion Trade The GCC should leverage its power to trade as a bloc Comprehensive, wide-ranging deep FTAs can achieve greater geopolitical stability June 28, 2023
Opinion Sustainability Wanted: more action and less hot air In the "Year of Sustainability" every area of Gulf society must play their part now June 27, 2023
Transport Billions needed to make Hyperloop a reality Middle East governments hoping to turn the world’s first Hyperloop into more than a pipe dream will have to “throw money at the project”, a transport expert has said. Despite launching with huge fanfare, the concept has failed to materially advance, primarily because of a lack of public-sector backing, according to a report from Munich-based […] June 27, 2023
Analysis Economy Shining a light on the GCC’s $890bn shadow economy The Dubai Financial Services Authority this week imposed a penalty of $25,200 on a company for dealing in precious metals and stones from its base in the Dubai International Financial Centre. The DFSA said the company had not been registered to carry out such activity. While the authority did not allege that the company was […] June 23, 2023
Renewable Energy Gulf is worst performer for investment in renewables The Middle East is the worst-performing region for investment in renewable electricity sources, new research has found. Africa and the Middle East combined represented just 1.6 percent of worldwide investment last year, according to the Renewables 2023 Global Status Report. China accounted for 55 percent of total investment, followed by Europe at 11 percent and […] June 21, 2023
Tech Skills shortage pushes up Gulf tech leaders’ salaries Technology chiefs working in the Gulf are typically earning $528,000, according to a new survey, as leadership talent remains “scarce” in the region. That figure is the median salary calculated by the first annual Middle East Technology Officers Compensation Survey from US advisory firm Heidrick & Struggles. The report said strong GDP growth in the […] June 20, 2023
Opinion Media & Advertising Mena’s podcast gap: Music to investors’ ears or a bum note? The region has potential but advertisers will keep a close eye on the data June 19, 2023
Business of Sport Italy’s Serie A football league targets Middle East backers Italy’s Serie A is targeting investment opportunities from the Middle East, as the football league becomes increasingly attractive to global lenders and private equity giants. The Gulf region has sizeable interests in English football, including Saudi-backed Newcastle United and Manchester City FC, which is majority-owned by Abu Dhabi United Group. Qatar Sports Investments is also […] June 17, 2023
Banking & Finance Debt and fintech dominate Mena startup funding Fintech and debt financing were the dominant themes in Mena startup funding in May, as experts predicted continued growth for the remainder of the year. In May, $445 million was invested in 39 startups in the Middle East and North Africa, up from only $7 million and 11 deals in April. The data was compiled […] June 16, 2023
Banking & Finance Gulf central banks mirror US Fed by halting rate hike The Central Bank of the UAE and Qatar Central Bank have decided to maintain interest rates after the US Federal Reserve board announced it will keep the key borrowing rates unchanged. The UAE’s central bank will hold the base rate applicable to the overnight deposit facility steady at 5.15 percent as of Thursday 15 June, the […] June 15, 2023
Analysis Economy Wealth funds likely to increase African investments Sovereign investors from the UAE and wider GCC bloc are likely to ramp up investments across African countries, building on a 50 percent jump in capital flows from the Middle East over the past five years, say experts. Agriculture, energy and infrastructure are sectors likely to benefit from multi-billion dollar deals as the UAE accelerates […] June 13, 2023
Opinion Economy Roubles, risks and rewards There are pros and cons to maintaining economic links with Russia despite Western sanctions June 13, 2023
Transport GCC on track to be linked by rail in next 10 years GCC governments are preparing to hand out $167 billion worth of contracts to link the six member countries by railway. “We should expect to see some significant contracts awarded on the railway to link all the GCC states over the next 24 to 26 months,” said Ed James, head of content and analysis at Meed, […] June 13, 2023
Tourism Geneva’s Gulf visitors not put off by Swiss bank crisis Switzerland’s banking system may have suffered a dent to its reputation this year, but the headlines have not put off Gulf visitors from visiting Geneva. For the first 10 months of 2022, Gulf visitors accounted for 191,139 room nights in the European country’s second city, according to data from its official tourism body. Travellers from […] June 12, 2023
Analysis Economy Differing VAT rates complicate intra-GCC trade Differing rates of VAT across the GCC are complicating intra-regional trade and adding costs to exporters and importers, according to experts. The six-member bloc in 2016 signed an agreement to levy 5 percent VAT on the sale of goods and services within their respective countries. Saudi Arabia and the UAE were the first to implement […] June 12, 2023
Banking & Finance Fintech pushes Mena startups to raise $445m in May Venture capital (VC) activity bounced back in the Middle East and North Africa (Mena) in May 2023, as funding into the regional startups reached $445 million. The fundings were spread across 39 deals, compared to $7 million raised across 11 deals in April 2023, Dubai-based Wamda said in its monthly report. On a year-on-year basis, […] June 12, 2023
Analysis Food & Drink Fine wine whets appetite of Gulf investors A Methuselah-sized bottle of wine – six litres – was auctioned by Sotheby’s last December for a staggering $361,000. The sale of the 2007 Domaine de la Roman-Conti is an indication that investments of passion – art, cars, watches and wine – may not have been dented by the recent global economic worries. The region’s […] June 9, 2023
