Author: Dr Issac PJ
The World Bank has warned that escalating tensions between Iran and Israel pose a serious threat to economic stability across the GCC region, potentially derailing growth prospects and intensifying global uncertainty. While the immediate economic impact of the conflict remains difficult to quantify, the bank cautions that the fallout could ripple far beyond energy markets, affecting trade, inflation, investor sentiment, and fiscal stability. Safaa El Tayeb El-Kogali, the World Bank’s regional director for the GCC, highlighted the risks during the release of the Bank’s latest Gulf Economic Update. She noted that the region remains particularly vulnerable to geopolitical shocks, given…
The UAE is rapidly reinforcing its status as a global powerhouse in artificial intelligence, propelled by an ambitious multi-billion-dollar agenda. The agenda aligns cutting-edge infrastructure with deep-rooted government strategy, strategic alliances, and a bold push to build homegrown talent and innovation, according to leading analysts. As AI becomes a central pillar of the country’s non-oil diversification drive, its impact is expected to be transformational — potentially contributing up to 20 per cent of the UAE’s non-oil GDP by 2031, they argue. The scale of ambition is matched by the scale of investment. From a market valued at roughly Dh12.74 billion…
The luxury retail landscape in the Middle East is undergoing a dramatic transformation, led by the UAE and Saudi Arabia, which have emerged as the region’s most dynamic and lucrative markets for global luxury brands. A potent mix of surging consumer demand, growing wealth inflows, and visionary urban development is creating fertile ground for the sector’s robust expansion, making the region a new strategic frontier for high-end retail, luxury market experts said. As global brands strengthen their presence and regional players scale up, the Middle East is poised to take on a more strategic role in luxury portfolios worldwide. From…