Skip to content Skip to Search
Skip navigation

GCC

Workers at a uranium mine in Kazakhstan, which produces 43 percent of the world's total

Uranium prices rise with demand for nuclear power

Barakah in the UAE, Dabaa in Egypt, Bushehr in Iran and Akkuyu in Turkey. Nuclear energy is now seen by many countries as central to emissions reduction. It is little surprise then that demand for feedstock – mainly uranium – has been spiking. Prices for the mineral, which is critical to the production of nuclear power […]

'International partnerships are crucial,' says Anne-Marie Mountifield, chair of The Solent Cluster

UK’s Solent Cluster courts Gulf for green investment

The Solent Cluster, a network of 114 companies with interests on the English south coast, is considering working with Gulf companies to deliver $15 billion of green investment.  The group is prioritising decarbonisation and among its proposals are a sustainable aviation fuel (SAF) plant for which Dubai’s national carrier Emirates and other airlines could become […]

VC firms expect Mena investment will pick up again this year after a slump in 2023

VC firms ready for Mena investment rebound

Venture capital companies expect investment activity in the Middle East and North Africa to rebound this year after a slump in 2023, with startups in Saudi Arabia and the United Arab Emirates likely again to dominate dealmaking. In 2023 there were 517 VC deals in the Middle East, North Africa and Turkey. They raised a […]

The amount of cheese sent from the UK to the GCC was up by almost half cheese stall market

UK cheese sales buck trend in F&B exports to the GCC

British cheese continues to grow in popularity with regional consumers, but it could not prevent total food and drink exports from the UK to the GCC declining in 2023. Exports were down by almost 7 percent year on year to £816 million ($1 billion). The UK’s Department for Environment, Food and Rural Affairs attributed the […]

Narendra Modi, India's PM, was met by Sheikh Mohamed bin Zayed, the president of the UAE, on his arrival in Abu Dhabi

Maharashtra plans food security corridor with UAE

The central Indian state of Maharashtra is working to develop a food security corridor with the UAE. The government of Maharashtra, which has 11 million farmers, has linked up with US fund manager Pegasus Capital Advisors for the food trade project. Under their agreement, the Maharashtra authorities will share an operational plan within three months, […]

Binance founder Zhao Changpeng, who paid $4.3bn in a money-laundering settlement. Investcorp says it would not currently recommend digital assets to investors

Investcorp stays cool on digital assets

Investcorp, the Gulf region’s largest alternative investment company, will not be turning to digital assets to boost its bottom line in the short term. The Bahrain company’s Abu Dhabi-listed Investcorp Capital invested more than $639 million in the first half of its financial year to December 31, 2023. The company’s latest financial reports revealed a […]

Stunted GDP growth 'is largely due to short-term cuts in oil production' said IMF chief Kristalina Georgieva

IMF chief says oil cuts weigh on Mena GDP growth  

Gross domestic product (GDP) growth for the Middle East and North Africa (Mena) is expected to reach 2.9 percent in 2024, which is higher than last year, but still below October 2023 projections, International Monetary Fund (IMF) managing director Kristalina Georgieva said. “This is largely due to short-term cuts in oil production, the Gaza-Israel conflict, […]

Malina Ngai, Asia and Europe CEO of Watsons, says the GCC and Mena have 'immense significance' for the beauty retailer

Asia’s largest beauty retailer plans GCC expansion

Watsons, Asia’s largest health and beauty retailer, is to launch in two more GCC markets after recording sales growth of 53 percent in the region last year. The company has 18 stores in the UAE, Saudi Arabia and Qatar through a franchise deal with AI Futtaim Group. It is targeting expansion into Bahrain and Kuwait […]

Drones on display at the World Defense Show in Riyadh, Saudi Arabia

Gulf militaries rush to keep up with drone tech progress

A new form of drone warfare used during the Ukraine conflict has changed the nature of battle and created a challenge for military planners in the Gulf region, industry experts said at a defence show in Riyadh this week.  Drone swarms have been launched by both sides since Russia invaded Ukraine in 2022.  The unmanned […]

The global economy has shown 'real resilience' said OECD secretary-general Mathias Cormann

OECD predicts modest growth but conflict risk remains

Global growth is holding up and inflation is falling, but conflict in the Middle East represents a significant near-term risk, the Organisation for Economic Cooperation and Development (OECD) has said. In its interim outlook published on Monday, the Paris-based organisation projected that GDP expansion worldwide would remain moderate at around 3 percent in 2024-2025. Energy […]

International investors Gulf markets woman walking at Dubai Financial Market

Gulf markets attracting more international investors

International investors are increasingly considering opportunities in Gulf markets, according to traders and observers. The only exception is China, where interest in investing in the Gulf remains relatively low.  GCC countries raised $6.8 billion through 29 offerings during the first nine months of 2023, buoyed by a privatisation push in Dubai, several record-breaking listings from […]

An estimated 90% of vessels that would have used the Suez Canal are now re-routing to avoid the chance of attacks in the Red Sea

Red Sea attacks dent Mena business activity

The attacks on shipping in the Red Sea are depressing economies across the Middle East and North Africa, as supply chain disruption takes its toll on business activity. The latest economic monthly bulletins for the UAE, Saudi Arabia and Egypt all show a drop in operating activity for January. Houthi rebels in Yemen have been […]

Hive Coliv co-living

Millennial ‘co-living’ concept gains momentum in Gulf

The appetite for “co-living”, a form of communal housing that offers private rooms and shared spaces, is on the rise in the GCC, and more investors are entering the sector.  Co-living as a sub-segment of residential property has gained in popularity in markets such as the UK and the US, as developers seek to provide […]

These workers at a factory in Manama, Bahrain, could soon be enjoying a three-day weekend if the government goes ahead with proposed changes

Kuwait and Bahrain propose changes to working week

Lawmakers in Kuwait and Bahrain are pushing for major amendments to the working week, aiming to improve workers’ rights and boost the work-life balance in the two Gulf states. In Bahrain, the focus is on extending the weekend to three days: Friday, Saturday and Sunday.  “There is an urgent need to keep pace with global […]

Visitors at the 2024 Intersec safety and security conference in Dubai, where the latest video surveillance tech was on display

Saudi is ‘young market’ for video surveillance tech

Demand for video surveillance technology is expected to grow rapidly in Saudi Arabia over the next few years, industry experts have said. “Saudi Arabia is a new and young market for video surveillance, and regulations are still being drafted,” Ettiene van der Watt, regional director at Swedish manufacturing company Axis Communications, told AGBI last week […]