Opinion Banking & Finance Let’s make it faster and cheaper to send money home Millions of families depend on the funds sent by loved ones overseas. Policymakers and industry must simplify the process now August 2, 2022
Real Estate GCC investors unfazed by UK real estate crackdown A crackdown on anonymous foreign investments in UK real estate will not put off GCC buyers and may even increase deals in the long term, experts say. The Register of Overseas Entities will require anonymous foreign companies owning or seeking to buy UK land to reveal their true owners, ensuring criminals cannot hide behind secretive […] August 2, 2022
Analysis Agriculture Food security report delivers stark warning to import-reliant Gulf GCC governments must step up their efforts to develop agri-food technology and recycle waste, a new food security report has warned. The Gulf is one of the world’s most import-dependent regions. The main food security challenge for the GCC is a natural or man-made crisis that could block one or more countries’ access to imports, […] August 2, 2022
Banking & Finance Fast food operator Americana appoints HSBC to advise on IPO The Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut has added HSBC to its syndicate of advisers for its potential dual listing this year, two sources familiar with the matter told Reuters. Americana Group has hired HSBC as a joint bookrunner on the initial public offering (IPO), which could value […] August 1, 2022
Opinion Dubai, Singapore and the battle for tech startup supremacy The relationship between the GCC and Southeast Asia has entered a new phase of competition and co-operation as both aim to lure founders August 1, 2022
Analysis MENA startup funding poised to recover in second half of 2022 Last year was a standout for Middle East and North African startups in which many notable records were broken, including the largest funding round to date and the highest number of deals. The total amount of investment raised by regional startups was pushed to $2.8 billion across 639 deals. This constituted a quadrupling of investment, […] July 29, 2022
Retail How Ounass got the Gulf hooked on online luxury Luxury fashion website Ounass is among the e-tail platforms credited with developing the momentum of online shopping in the Gulf region. A report by consultancy Bain and Company claims 70 percent of GCC shoppers are now comfortable with digital retail, having always been better known for their love of malls, operated by the likes of Emaar […] July 29, 2022
Analysis Banking & Finance Global Islamic fintech market set to hit $179bn in 2026 The global Islamic fintech market recorded $79 billion in transaction volumes in 2021. And it is expected to grow by around 18 percent annually to reach $179 billion by 2026, according to the Global Islamic Fintech (GIFT) Report 2022 launched on Thursday. “Covid and the subsequent digitisation push has helped to accelerate the pace at […] July 29, 2022
Analysis Economy Inflation raises old debate on currencies being pegged to dollar The Gulf’s currencies have been linked to the US dollar for decades: the Omani riyal since the 1970s, the Qatari riyal since mid-2001 and the Bahraini dinar and the UAE dirham officially since early 2002. The latter three have effectively been linked to the American greenback since the 1980s, as has the Saudi riyal. The […] July 28, 2022
Opinion Economy Currency will remain strong in the Gulf as rates continue to rise The Fed will continue to raise interest rates in a bid to reduce food and energy inflation July 28, 2022
Analysis Economy Gulf set for more belt tightening as interest rates keep rising The Gulf’s business owners and consumers are set for tougher times ahead as the region’s central banks followed the US Federal Reserve and increased interest rates on Wednesday. While experts predict that rate hikes are set to continue even further, many analysts believe that the combination of strong GDP growth and high oil prices will […] July 28, 2022
Analysis Economy GCC embraces public-private partnerships to drive projects Public-private partnerships will become more important across a wider range of sectors in the Gulf region as countries continue to diversify their economies, say experts. With the total value of planned and unawarded projects in the GCC countries expected to reach $2 trillion, governments are seeking more private sector support in infrastructure projects delivery. “Both […] July 28, 2022
Economy Gulf central banks lift rates as Fed makes second 75-bps hike Most Gulf central banks lifted their main interest rates by three quarters of a percentage point on Wednesday, moving with the US Federal Reserve as their currencies are pegged to the dollar. The Central Bank of Kuwait, the only one of the six Gulf Cooperation Council (GCC) countries that ties its currency to a basket […] July 28, 2022
Analysis Economy Britain’s plunging pound rattles Middle Eastern investors As Britain battles multiple headwinds of an unstable parliament, spiking inflation and a weakened sterling, global investors have taken note. The pound fell to two-year lows against the dollar this month – trading below $1.19 at one point – and Middle Eastern investors are now looking to spread their UK risk, a senior executive at the […] July 27, 2022
Opinion Tech Cutting red tape will catapult UK businesses into the GCC Opportunities abound in areas such as technology, sustainability and real estate but the governments must simplify their legislation July 27, 2022
Analysis Real Estate Gulf investors head outside London to fill up on UK property The Midlands and Northern England are looking ever more appealing to commercial real estate investors from the GCC, according to a new report GCC investors’ appetite for UK property continues to grow, new research has found, driven in part by the surging appeal of regions outside of London. A report from Bank of London and […] July 27, 2022
Analysis Retail Ecommerce 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 ecommerce. But what does the sector look like now across the Middle East and North Africa? Its three largest ecommerce 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
