Analysis Retail E-commerce or bust: in-depth analysis on Gulf online shopping The coronavirus pandemic encouraged many people to embrace online shopping for the first time, leading to a huge spike in global e-commerce. But what does the sector look like now across the Middle East and North Africa? Its three largest e-commerce markets are the UAE, Saudi Arabia and Israel, and together they account for more […] July 27, 2022
Analysis Retail Net zero is old hat, says the mall owner that wants to go bigger Sustainability is high on the agenda of the region’s major retailers, and in early July, Majid Al Futtaim gave an insight into what it is doing to limit its environmental impact, with the release of its latest environmental, social and corporate governance (ESG) report. The retailer, which owns and operates 29 shopping malls across the […] July 27, 2022
Opinion Mark your diaries: the human longevity revolution is coming Ageing populations can be a challenge, but they're a huge opportunity too. By 2030, spending by senior citizens will make up 10 percent of global GDP July 25, 2022
Banking & Finance World’s richest families are shifting investments to Gulf Qatar’s World Cup, Saudi’s Vision 2030 and UAE’s dynamism are all helping attract wealthy family investors to the region, says UBS Investments in the Middle East by ultra-high-net-worth family offices will increase by at least 50 percent over the next decade, a senior executive at the Swiss global wealth manager UBS told AGBI. Family offices, […] July 25, 2022
Banking & Finance Gulf bond hopefuls wait in wings after plunge in volumes Middle East companies waiting for a favourable window to sell bonds face some tough choices in terms of when to tap the market, a situation that has already contributed to an 80 percent plunge in issuance volumes in the region in the first half. Some issuers in the Gulf, which typically makes up some 40 […] July 22, 2022
Analysis Retail Luxury retail rebounds from Covid in the GCC The GCC’s luxury retail market has made a quicker than anticipated recovery following the coronavirus pandemic. An increase in local spending has been a major factor driving the upturn, together with the expansion of the personal luxury market in Saudi Arabia. Figures from Bain & Company show that the GCC luxury goods market shrank by […] July 21, 2022
People & Lifestyle 20 MENA innovators to watch Meet the young game changers who have set their sights on transforming the Middle East and North Africa July 20, 2022
Media & Advertising Netflix lost 770,000 users in Europe, Middle East and Africa Netflix Inc on Tuesday averted its own worst-case scenario of subscriber losses, posting a nearly 1 million drop from April through June, and predicted it would return to customer growth during the third quarter. Shares, which have fallen roughly 67 percent this year on concerns about the company’s long-term prospects, rose 8 percent in after-hours […] July 20, 2022
Markets Gulf bourses extend rebound as Saudi outperforms Saudi Arabia’s stock market outperformed its Gulf peers on Tuesday, as the region continued its rebound from the recent selloff, although the markets were cautious about inflation and global economic growth. The benchmark index in the kingdom advanced 1.8 percent, led by a 2.1 percent rise in Riyad Bank and a 2 percent increase in […] July 20, 2022
Energy Oil price windfall tests Gulf’s fiscal discipline as inflation rises A petrodollar windfall is helping some Gulf Arab states pay down debt and providing cash for others to diversify their oil-reliant economies, but it is also testing commitments to fiscal discipline as governments try to shield citizens from inflation. Gulf oil producers have promised more prudence this time as crude prices have spiked higher, seeking […] July 20, 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
Opinion Manufacturing The Gulf can become the crucible of world industry if it acts now The GCC economies are diversifying already. If they can move further and faster into manufacturing, they could win a great prize July 19, 2022
Think women make bad bosses? Think again, says Visa senior VP Is a man better at running a business than a woman? The Visa Entrepreneur Study, commissioned by the global payments giant, found that nearly four in 10 (38 percent) of male business owners surveyed in the UAE believed men have better business instincts than women. Furthermore, 34 percent said businesses founded by women couldn’t compete […] July 19, 2022
Markets Major Gulf bourses gain, while Union Coop falls 9% on debut Most stock markets in the Gulf ended higher on Monday as an uptick in oil prices lifted sentiment, with the Saudi index leading the gains. Crude prices, a key catalyst for the Gulf’s financial markets, extended gains on a weaker dollar and tight supplies as concerns deepened around gas shipments from Russia. The benchmark Saudi […] July 19, 2022
Analysis Food & Drink Gulf firms tap thirst for no-alcohol drinks On St Patrick’s Day this year Irish drinks brand Guinness seized the opportunity to promote one of its biggest innovations since its launch in 1759. Four years in the making, Guinness 0.0, a non-alcoholic version of the famous stout brew – first launched in the UK and Ireland in 2020 – has now gone global. […] July 16, 2022
Markets Most Gulf indexes drop ahead of concerns over new Fed rate hike Most stock markets in the Gulf slipped into negative territory on Wednesday, as traders awaited US inflation data for cues on a large Federal Reserve rate hike this month. Saudi Arabia’s benchmark index fell 1.1 percent to a near six-month low, with oil behemoth Saudi Aramco losing 3.4 percent and Sahara International Petrochemical Co plunging […] July 14, 2022
Analysis Development Closing the MENA gender gap could take 115 years It will take 115 years to close the gender gap in the Middle East and North Africa according to the latest World Economic Forum report. The analysis, which benchmarks the difference between women and men as reflected in social, political, intellectual, cultural, or economic attainments or attitudes, reveals that women’s employment has suffered as the […] July 13, 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
Economy Israel says Biden visit may lead to common Middle East market Israeli finance minister Avigdor Lieberman said today he hoped a regional visit by US president Joe Biden this week will lead to a common Middle East market that includes Saudi Arabia. Biden arrives in Israel on Wednesday and continues to Saudi Arabia on Friday. The White House has said the visit’s aims include “expanding regional […] July 11, 2022
Analysis UK minister reaffirms Gulf ties amid PM resignation turmoil July 7 will be remembered as the day British prime minister Boris Johnson resigned his post following a cabinet revolt and the departure of dozens of ministers. But on the same day, Amanda Milling MP, the UK government’s minister for Asia and the Middle East, completed a largely unreported trip to the Gulf region, visiting […] July 11, 2022
Analysis Real Estate Gulf home buyers eye Battersea Power Station in London Gulf investors are snapping up London properties beyond the traditional smart neighbourhoods such as Chelsea and Kensington, north of the river Thames. With a weak pound offering great purchasing power for Gulf currencies and an upcoming visa liberalisation for GCC countries with Britain, MENA-based property investors are flocking to England’s capital. And Arab buyers have […] July 11, 2022
Opinion Johnson’s exit will not impede deepening UK-Gulf relations New political leadership will make little difference upon the trade deal with both markets set to benefit July 8, 2022
