Banking and Finance Mena professionals vow to build up their savings in 2023 Saving money is the top new year’s resolution for Mena professionals, a survey has found. In the poll by jobs site Bayt.com, almost two-thirds (63 percent) of the 2,988 respondents said building a nest egg was their No 1 priority for 2023. Keren Bobker, a Dubai-based independent financial adviser and senior partner at Holborn Assets, […] January 2, 2023
Tourism Germany records 180% surge in Gulf visitors The number of Gulf nationals visiting Germany rose 180 percent year-on-year in the first three quarters of 2022, figures from the German National Tourist Board reveal. GCC nationals accounted for more than 872,000 overnight stays from January to September, making the region Germany’s number one source market in Asia. Although the figure was up from […] January 2, 2023
Manufacturing UAE’s manufacturing industry exports hit $143bn in 2021 The UAE ranked first in the Arab world in terms of the value of manufactured exports in 2021, with a total value of $142.5 billion, the UAE state-run WAM news agency reported, citing the Arab Monetary Fund’s (AMF) joint Arab economic report. Manufacturing industry exports in Arab countries totaled $325 billion in 2021, up from […] January 1, 2023
EXCLUSIVE Real Estate Middle East buyers to cash in on prime London property market Cash is king when it comes to the prime central London property market and Middle East buyers are perfectly positioned to take advantage of this. Vic Chhabria, managing director of London Real Estate Office, whose client base largely comprises overseas buyers from Mena and more specifically the GCC, said the potential for further interest rate […] December 30, 2022
Exclusive Manufacturing British affordable tech company sees ‘sky high’ Gulf demand UK-based consumer technology company T4tec is expanding its operations in the Middle East to tap into “sky high” demand for quality affordable consumer electronics. The company, which has been selling its televisions and other products including wireless Bluetooth sound bars, cordless kettles, and toasters in the region via Amazon, is in talks with two distribution […] December 30, 2022
EXCLUSIVE Tourism VisitBritain to target GCC as tourist spending recovers Spending by GCC-based tourists visiting the UK climbed above pre-pandemic levels for the first time in 2022, according to latest data from VisitBritain, the national tourism agency. While visitor numbers from the Gulf were still 18 percent below 2019 figures at 202,000 during the second quarter, the amount they spent rose by 7 percent to […] December 29, 2022
Opinion Business of Sport The classic car market is about to hit the gas Expect significant growth in values as the Middle East gets into gear December 28, 2022
Opinion Banking and Finance Antti Arponen: Fintech payment solutions will be catalyst for growth With emerging markets in the Middle East and Africa continuing to leapfrog old technology, fintech payment solutions are in the right place at the right time December 28, 2022
EXCLUSIVE Aviation Gulf airlines will collaborate more in 2023, says Emirates chief The Middle East aviation industry is perfectly positioned to launch greater collaboration among its leading players, according to Emirates president Sir Tim Clark. Middle East carriers are expected to post a loss of $1.1 billion in 2022, and a profit of $268 million in 2023 as per a report from the International Air Transport Association. […] December 28, 2022
Tech Gulf to see a surge in ‘super apps’ in 2023, says Kuwaiti retailer The future of the Gulf’s digital service economy lies in the creation of increasingly popular super apps, according to Tarek Sakr, CEO of Kuwait-based e-commerce and classifieds platform 4Sale. As technology continues to revolutionise the retail industry, building on the rapid shift to e-commerce during the coronavirus pandemic, in an exclusive column for AGBI, Sakr […] December 28, 2022
Analysis Economy Less dramatic year ahead for Middle East post-Covid and oil boom era After the sugar rush of 2022, Gulf states will have to get used to less dramatic rates of growth in 2023, as economies stabilise following the immediate post-Covid period that coincided with the spillover effects from the Ukraine crisis. GCC growth averaged 6.5 percent in 2022, according to International Monetary Fund (IMF) estimates, and the […] December 28, 2022
Analysis Development 10 events that shaped the Gulf’s economies in 2022 This last year has been book-ended by two of the largest events the Gulf has ever seen: Expo 2020 Dubai and the Fifa football World Cup in Qatar, helping the region throw off the shackles of the coronavirus pandemic. Many events share a common theme, according to Andreas Krieg, associate professor at King’s College London. […] December 27, 2022
Opinion Economy Oil and tech will keep Kuwait’s economy on the rise Digitisation is key to success but startups in the rest of the Mena region must buckle up for a bumpy ride December 27, 2022
Analysis Real Estate Ski chalets are hot property for Middle East buyers Demand for high-end ski chalets from affluent Middle East buyers has surged, even though the price of a home on the slopes is rising at its fastest rate for almost a decade. Despite the pandemic’s impact on international travel, the specialist property market has benefitted from an influx of remote workers looking for semi-permanent bases […] December 25, 2022
Analysis Banking and Finance Dubai key as 30% of UK’s VC investors target Mena in 2023 Nearly one in three UK-based investors plan to look towards the Middle East and North Africa for venture capital deals next year, according to new research. The region is the third most popular destination for planned investments during 2023 by UK decision makers who invest in venture capital, after their home market and North America. […] December 23, 2022
Opinion Retail 5 shopping trends for 2023, from embracing Gen Z to going green Consumers are more digitally savvy and increasingly concerned about sustainability – retailers must be ready for them December 23, 2022
Economy Combined economies of GCC will hit $6trn by 2050 The gross domestic product (GDP) of the Gulf Cooperation Council (GCC) economies will grow to $6 trillion by 2050, Oman Daily Observer reported, citing Nasser bin Rashid Al Mawali, under-secretary of the Ministry of Economy. He said that the total GDP of the GCC states is likely to hit about $2 trillion by the end […] December 23, 2022
Markets Bankers expect tough 2023 as IPO volumes at lowest since 2008 Investment bankers are bracing for another tough year ahead after losing out on lucrative fees from arranging stock sales, as the market for initial public offerings (IPOs) plummeted to its lowest level since the financial crisis of 2008. With questions swirling around monetary policy and the prospect of a looming recession, IPO advisers are not […] December 21, 2022
Economy UK-GCC trade talks set to enter third phase in Riyadh A third round of negotiations for a free trade agreement between the UK and the GCC is set to take place in the Saudi capital Riyadh early next year. The talks will follow a second round of negotiations that took place in London between December 5 and 9, the UK government has revealed in a […] December 20, 2022
Analysis Retail You’ve come a long way, Baby – female-led startups land in Gulf Women in the UK are launching their own businesses at a record rate. In 2018, 56,200 female-led startups were established in Britain. Three years later, the number had soared to 145,200, according to the 2022 Alison Rose Review of Female Entrepreneurship. One of the key beneficiaries of this rapid growth is the Gulf, as UK […] December 20, 2022
