Economy How governments are trying to ease impact of inflation? Pandemic-related disruptions to global supply chains and the effects of Russia’s war in Ukraine have driven up prices of energy, commodities and necessities. Here’s how governments are trying to help hard-hit consumers and companies: Middle East and Africa – Saudi Arabia and the United Arab Emirates in July raised social welfare spending. – Egypt has […] December 20, 2022
Analysis Sustainability Green deals jump as Middle East returns to pre-Covid levels Mergers and acquisitions activity in the Middle East has returned to pre-pandemic levels, with green deals on the increase. A Boston Consulting Group analysis shows the Middle East recording 283 deals valued at $23.8 billion in the first three quarters of 2022, an increase of 16 percent compared to the same period last year. The […] December 19, 2022
Opinion Development Creating a more even playing field for women entrepreneurs In their regular column Cherie Blair and Pembe Al Mazrouei discuss gender equality for business startups in the UAE, looking at the problems, the progress and the people December 19, 2022
Analysis Retail Time running out for Gulf’s luxury watch investors to cash in After a boom in haute horology over the past few years, with reports of shortages that even put royals on the waiting lists, prices for Rolex watches have started to fall. But some coveted pieces will always command a premium, collectors have said. The value of Swiss watch exports to the Middle East in 2021 […] December 17, 2022
Opinion Development Goodbye 2022: Lessons to be learnt from a year of challenges From the coronavirus pandemic to the Russian invasion of Ukraine, the immense challenges of 2022 inform hopes and fears for the future December 16, 2022
Exclusive Manufacturing Gulf switches to more energy efficient cooling solutions The UAE’s replacement market for air conditioning (AC) is growing fast as energy consumption concerns continue to rise. Global consumption of electricity for household ACs is increasing rapidly, creating urgent demand for more efficient cooling systems. Energy demand for space cooling will more than treble by 2050 unless there is action to address energy efficiency, […] December 15, 2022
Banking and Finance Gulf central banks increase key rates, mirroring US Fed move Most Gulf states raised key interest rates by half a percentage point on Wednesday, following the Federal Reserve’s decision to increase rates by the same. Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed policy decisions because most regional currencies are pegged to the US dollar. Saudi Arabia and the […] December 15, 2022
Opinion Energy A new cap on Russian oil leaves world relying on the Gulf Middle East producers will be the main beneficiaries as markets look elsewhere for supply December 14, 2022
Retail Japanese sports brand Asics kicks off Gulf expansion in Doha Japanese sports brand Asics has signed a deal with the UAE’s Apparel Group to develop branded retail stores across the Gulf. The five-year franchise agreement will see the rollout of 20 stores in Qatar, the UAE, Saudi Arabia, Oman and Bahrain, with the first outlet opening in Doha Festival City Mall this week. Commenting on […] December 13, 2022
Opinion Energy Blame White House and Wall Street for global energy crunch The influence of radical environmentalism on the US Democrat administration and Wall Street bankers is damaging the global energy industry December 12, 2022
Opinion Banking and Finance The three sources of risk GCC banks must look out for in 2023 The cost of risk in the Gulf is expected to normalise and bank earning levels should recover to near pre-pandemic levels by the end of 2022 December 12, 2022
Business of Sport LaLiga nets esports deal as Spain’s football league heads Mena’s way Spain’s main football league, LaLiga, has signed a 15-year deal with Galaxy Racer, one of the world’s largest largest esports, gaming and lifestyle organisations, that they estimate will generate more than $3.16 billion. The home of Barcelona and Real Madrid say they expect the tie-up with the Dubai-based company to transform the league’s presence in […] December 11, 2022
Analysis Tech Gulf reaches for vertical farming to bolster food security A joint venture has been set up to develop a network of indoor vertical farms across Saudi Arabia as GCC governments seek to reduce their reliance on imported food. Mowreq Specialised Agriculture Co and biotech firm YesHealth Group have founded Vertical Farms Company, which will begin by building the kingdom’s largest indoor vertical farm in Riyadh. The […] December 7, 2022
Opinion Economy Impact of EU sanctions for European companies in the Gulf GCC entities navigate a legal minefield if seen to be assisting EU companies in breaching sanctions against Russia December 7, 2022
Analysis Xi Jinping visits Saudi as GCC looks east on trade When President Xi Jinping of China arrives in Saudi Arabia on Wednesday, it is likely to add further momentum to a flourishing relationship with the GCC that surpassed trade with the US and Europe combined last year. Three summits are planned during the three-day visit with over 20 agreements worth more than $29.3 billion expected […] December 7, 2022
Banking and Finance Sovereign and pension funds with $3trn on books fear stagflation Global public pension schemes and sovereign wealth funds managing more than $3 trillion in assets fear a combination of economic slowdown and higher inflation in the next 12-24 months, a survey showed on Tuesday. The investors face huge challenges in switching their portfolios to cope, according to think tank OMFIF, which carried out the survey […] December 7, 2022
Opinion Banking and Finance Spare a thought for founders fundraising over the holidays For startup founders in the throes of raising investor funds, holidays like Christmas and Ramadan can be a difficult time December 6, 2022
Opinion Energy Opec+ decides to wait and see on global oil markets Sunday’s virtual Opec+ meeting did the sensible thing: it held output, but made clear it was ready and willing to intervene should the circumstances warrant it December 5, 2022
Energy Opec+ keeps steady policy amid weakening economy Opec+ agreed to stick to its oil output targets at a meeting on Sunday as the oil markets struggle to assess the impact of a slowing Chinese economy on demand and a G7 price cap on Russian oil on supply. The decision comes two days after the Group of Seven (G7) nations agreed a price […] December 5, 2022
Analysis Retail Global luxury fashion brands look to the Gulf for growth in 2023 The Middle East and North America are expected to have the highest growth potential for the fashion industry in 2023, as executives deprioritise countries like China in the short term. The war in Ukraine, rising inflation and supply chain pressures are the biggest threats to the fashion industry in the run-up to a challenging year […] December 2, 2022
