Analysis Development UAE and Germany grow ever closer with shared net zero goals The first four Mercedes Benz cars arrived in Abu Dhabi in 1965, imported by the Al Fahims, who founded Emirates Motor Company three years earlier. Last year, the UAE imported German automobiles worth nearly $1.2 billion. Also in the mid Sixties, the German company Siebert discovered enough water close to Al Ain to enable the […] September 30, 2022
Analysis Development UAE reforms seen as magnet for further US investment A series of new economic and social reforms, known as the Projects of the 50, will make the UAE an even more attractive environment for American businesses. According to Danny E Sebright, president of the US-UAE Business Council, the UAE is already widely recognised by American businesses for these strengths. “Another important strength of the […] September 26, 2022
Opinion Development Ukraine prisoner swap highlights growing Russia-Saudi alliance Saudi Arabia’s relations with Moscow have warmed significantly. But its involvement in the prisoner swap suggests that Riyadh is also leveraging this relationship to mend its own links with the US September 23, 2022
Analysis Employment Young Arabs want action on wasta, lack of jobs and rising costs Nearly two thirds of young adults in the Levant are struggling financially and a sizeable minority have fallen into debt, according to this year’s Arab Youth Survey. The report also highlights spiralling living costs and scarce job opportunities for much of the Middle East and North Africa’s Generation Z. The 14th Arab Youth Survey interviewed […] September 21, 2022
Arab Youth Survey 2022 Development Arab youth ‘trust Russia and China more than UK and US’ Arab youth see the United States and the United Kingdom as bigger enemies than Russia and China, with the majority blaming the US and NATO for the war in Ukraine, a new survey has said. Close to three quarters (72 percent) of young Arabs describe Russia as either a strong ally or somewhat of an […] September 21, 2022
Analysis Development Abu Dhabi sets up KEZAD Group to bolster its industrial ambitions AD Ports Group has set up a new business, KEZAD Group, to expand its economic cities and free zones offering. KEZAD, which stands for Khalifa Economic Zones Abu Dhabi, merges the operations of Khalifa Industrial Zone Abu Dhabi (KIZAD) and Specialised Economic Zones (ZonesCorp). It operates 12 economic zones with a total area of 550 […] September 20, 2022
EXCLUSIVE: LONG READ Development Abraham Accords: The $3bn trade deal that shocked the world Two years after the signing of the historic Abraham Accords, the UAE and Israel are on track to see $3 billion worth of bilateral trade this year. The success of the relationship – kickstarted by the agreement signed by the Emirati and Bahraini foreign ministers, the Israeli prime minister and US president on the South […] September 15, 2022
Development Saudi bets $80m in gaming sector push Saudi Arabia’s National Development Fund (NDF) has announced a SR300 million ($80m) fund to help develop the gaming and e-sports sector in the kingdom. The budget aims to position Saudi Arabia as a global gaming hub, increasing the sector’s contribution to the gross domestic product (GDP) by providing career paths and new job opportunities as […] September 8, 2022
Analysis Development Truss appointment as UK PM is good news for Gulf, say experts Liz Truss is to be the UK’s next prime minister, after beating former chancellor Rishi Sunak in the contest to lead the Conservative Party. Truss secured 81,326 votes to Sunak’s 60,399 in a ballot of party members. She will take office on Tuesday after a meeting with the Queen. The new prime minister’s in-tray is […] September 5, 2022
Analysis Development Accountability ‘crucial’ for success of Saudi Vision 2030 Saudi Arabia is entering a “crucial” part of its ambitious Vision 2030 programme as the kingdom begins to deliver on its promises, described by a leading expert as the “moment of accountability”. Pedro Ribeiro, the recently appointed general manager for commercial real estate services and investment firm CBRE in Saudi Arabia, told AGBI that the […] September 1, 2022
Development New deals aim to enhance UK-Qatar trade and investments The UK has enhanced its relationship with Qatar, its third largest Gulf trading partner, with the announcement of two new agreements to boost trade and investment. UK trade minister Ranil Jayawardena met Qatar’s Minister of Commerce and Industry, Sheikh Mohammed bin Hamad Al-Thani in London last week to agree the partnerships at the third UK-Qatar […] August 30, 2022
Interview Real Estate Empowering more Emirati women to invest in real estate Latifa Bin Haider tells AGBI about her mission to transform investment opportunities for women in Dubai’s booming real estate market With the launch of Baytuki, a new crowdfunding platform, Emirati social entrepreneur Latifa Bin Haider aims to enable Emirati women of all ages and income brackets to secure financial prosperity by making micro investments in […] August 29, 2022
How I got to the top Development Shrook Mansour Bin Sultan, head of government affairs for Saudi Arabia, 3M Shrook Mansour Bin Sultan is the new head of government affairs in Saudi Arabia for US multinational conglomerate 3M, which operates in the fields of industry, worker safety, US healthcare and consumer goods. Her responsibilities include leading the company’s public policy initiatives, such as engagement opportunities with government entities to support the kingdom’s policymakers on […] August 26, 2022
Analysis Development Western views on Arabs ‘outdated’, says Blair think tank Western perceptions of the Arab world are out of synch with the modern reality, argues a new 73-page report published by the Tony Blair Institute for Global Change. “On average, less than a quarter of those polled in Western countries believe that people in the Middle East share all or most of the same values […] August 2, 2022
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
Development Lloyd’s insurers preparing to cover Ukraine grain Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said on Wednesday. Russia and Ukraine signed a deal on Friday, brokered by Turkey and the United Nations, to reopen grain and fertiliser exports that have […] July 28, 2022
Analysis Development Middle East nets half of China’s Belt and Road funding The Middle East received the largest share of China’s $28.4 billion investments through its Belt and Road Initiative (BRI) during the first half of 2022, with Saudi Arabia the single biggest recipient. The BRI was launched by Chinese president Xi Jinping in October 2013. Over the last nine years a total of $932 billion has […] July 27, 2022
Development US special envoy for Yemen travels to the Middle East The US special envoy for Yemen will visit Saudi and Jordan this week, as part of diplomatic efforts in support of the United Nations-mediated truce in Yemen. The US State Department reported on Monday. Tim Lenderking’s “engagements will focus on expanding, extending, and renewing the current truce agreement that will further the tangible benefits already […] July 26, 2022
Development Kuwaiti emir’s son named prime minister Kuwait named the emir’s son as prime minister on Sunday, replacing caretaker premier Sheikh Sabah al-Khalid who faced a combative parliament amid a feud between the government and elected assembly that has hindered fiscal reform. Crown Prince Sheikh Meshal al-Ahmad al-Sabah, who took over most of the ruling emir’s duties late last year, named Sheikh […] July 25, 2022
Analysis Economy Sheikh Mohamed underlines ties with France on first foreign trip The Louvre Abu Dhabi is perhaps the most visible symbol of the flourishing relationship between the UAE and France. The museum on Saadiyat Island, which opened in 2017 under an agreement between the two governments, is said to be France’s largest cultural project abroad. Given this backdrop of cultural and commercial ties, France was a […] July 19, 2022
Analysis Development I2U2: America’s answer to curbing China and upping food security Israel, India, the US and the United Arab Emirates came together on Thursday for an historic meeting as the “I2U2” collective. The futuristic name refers to the first letters of the four countries. US president Joe Biden and Israel’s prime minister, Yair Lapid, lent the initiative a maiden boost, joining a four-way call in Jerusalem […] 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
