GCC
GCC
Knight Frank noted a two-tier market has emerged in the apartment rental sector in Qatar
GCC
The centre's data indicated a slight dip of 0.4% from 2022 GCC
GCC-wide inflation rose by 1.7 per cent at the end of October 2024 GCC
Healthcare spending in GCC countries will grow by between 4 and 8.8 per cent in the next five years with UAE and Saudi Arabia seeing most growth crude oil
Additionally, the bloc ranked second worldwide in natural gas exports and third in marketed natural gas production GCC
GCC ranked sixth in the world for trade of goods GCC
GCC members are looking to Hong Kong for future investment opportunities says Jasem Albudaiwi GCC
The GCC is growing in population size and also as an economic force GCC
The agreement, signed at Black Hat – the leading cybersecurity event, is to act as a foundation for a full technology partnership between the two entities Abu Dhabi
Gulf-China trade is expected to overtake Gulf-West trade by 2027 Abu Dhabi
UAE petrol prices, Eid Al Etihad holiday dates, national lottery announced, Riyadh Metro launch and more top news stories this week GCC
London's loss, however, is turning out to be a boon for Dubai as the property sales-spree by GCC investors is leading to an influx of capital returning to the emirate and the wider region EaseMyTrip
The integration will help the travel portal to provide a blockchain-based carbon offset programme, enabling travellers to purchase carbon credits directly through the platform GCC
GCC countries display strong non-oil growth amid looming uncertainties Bahrain
This Gulf visit is part of a broader strategy to secure trade agreements with other countries, including India, Switzerland, and South Korea Abu Dhabi
CEO Rob Devereux did not confirm specific projects, but hinted at opportunities for expansion in Abu Dhabi and Saudi Arabia to capitalise on the region's growing demand for premium commercial real estate barratt london
London real estate developers target wealthy GCC citizens to buy UK property
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Gulf Business
6 hours ago
- Gulf Business
Insights: Gulf ports face new security challenges as trade ambitions accelerate
Image: Supplied Ports have evolved beyond their role as trade gateways. Today, they stand as critical pillars of national resilience and economic continuity. In the modern-world, where over 80 per cent of global trade moves by sea and the Gulf plays a central role in global energy and logistics, port security should not be viewed as a cost or a compliance exercise. It must be treated as a vital economic enabler. Without strong and modern security, the Gulf's ambitions to lead in manufacturing, trade, and supply chain integration will remain a challenge. At the recent 'Make it in the Emirates' forum, the UAE laid out a bold industrial vision. Officials highlighted that local manufacturers can now access a global market of 2.5 billion people. Free zones, re-export hubs, and logistics corridors powered by ports including The threat landscape is escalating Port security has moved far beyond fences and surveillance cameras. Today, it involves tackling everything from phishing attempts and cyber intrusions to insider threats and the growing risk posed by smuggling, irregular migration, modern-day slavery and autonomous drones. According to the Center for Internet Security, malware-based attacks rose by 30 per cent in the first half of 2024, with a staggering 92 per cent increase recorded in May alone. These figures are not abstract. They represent very real risks that port operators face daily while trying to maintain efficient operations. Rising geopolitical tensions, from unrest in the Red Sea to broader regional flashpoints, are putting new pressure on Gulf ports. Ensuring their resilience is no longer just about protecting trade. It is now central to national security and regional stability. Compliance is the starting line, not the finish Most Gulf ports meet the basic international security standards under the ISPS Code. But that is not enough. Compliance provides a framework, not a solution. Too often, operators treat it as a checklist rather than a foundation. True resilience requires a different mindset. Port security should not be seen as an obstacle to trade but as a core pillar of competitiveness.. Jebel Ali Port is a leading example. Its global reputation was not earned by simply meeting minimum standards. Its success is the result of ongoing risk assessments, continuous training, and a proactive approach to every aspect of security – particularly in its adoption of technology and its integration into its production primacy approach. This is a model that other ports in the region can learn from and adapt. Integration is the future of security Modern ports function as complex ecosystems. They bring together free zones, logistics providers, customs authorities, and digital infrastructure into a single operational environment. Within this space, security must be fully integrated. Physical access control, cybersecurity protocols, intelligent surveillance, and emergency response planning all need to work together as one. Technology plays a critical role. From biometric access systems to artificial intelligence for threat detection, there are advanced tools that can help enhance security. However, these tools are only effective when guided by skilled professionals with the right training. As Bill Gates once noted, automation applied to an inefficient operation only magnifies the inefficiency. Without strong processes and capable people, even the best technology will fall short. The Gulf's advantage must be used wisely The Gulf has already demonstrated that it can deliver world-class infrastructure. The next frontier is building secure infrastructure that can adapt and evolve with emerging risks. This will require moving beyond paper-based plans and embracing real-world testing. Scenario-based exercises and crisis simulations should become standard practice. Security cannot be a one-time investment. It must be embedded into the daily culture of port operations. Governments and private sector operators must also collaborate more closely. Intelligence sharing, regional coordination, and the development of Gulf-specific security standards can raise the overall r At the heart of this transformation is human capital. The region must invest in developing a new generation of trained and trusted security professionals who understand both physical and digital threats. Security is an investment in growth A single breach at a Gulf port would do more than delay containers. It could disrupt entire supply chains, shake investor confidence, and damage the region's reputation as a dependable trade partner. In a global economy driven by trust, security is no longer optional. It is a non-negotiable investment in sustainable growth. One of the Gulf's strengths lies in its ability to build with foresight. Unlike older ports that are burdened with legacy systems, Gulf ports can design modern security architecture from day one. The UAE, Saudi Arabia, and Oman have already begun this journey by introducing smart surveillance systems, AI-driven monitoring, and integrated command centers. These are promising steps, but more must be done. A final question for the region Port security should not be treated as a side function or a technical afterthought. It is central to growth, to national strength, and to the region's future as a global trade and industrial hub. The Gulf can lead not just in port development but in redefining what secure, resilient trade infrastructure looks like for the rest of the world. As the region accelerates toward a more industrial and interconnected future, one question must be asked. Are we just expanding our ports, or are we securing our prosperity? The answer will determine how far and how smart, secure, and geen the Gulf travels on the path to economic leadership. The writer is the CEO at Neptune P2P Group.
Arabian Business
15 hours ago
- Arabian Business
UAE shoppers want 1-click, biometric checkouts for safer online payments: Visa
Consumers across the UAE are calling for more secure and seamless online shopping experiences, according to Visa's latest Checkout Friction Report. Despite the rapid growth of ecommerce and digital adoption in the region, key challenges at the checkout stage continue to hinder consumer satisfaction and business performance. Based on a survey of more than 2,000 online shoppers across the GCC, the report shows that security concerns and complex payment steps are the top barriers to smooth transactions. Online shopping in the UAE In the UAE, 40 per cent of shoppers cite fear of fraud as their biggest concern, while 37 per cent are frustrated by the need to repeatedly enter card details. Shopping frequency is high, with one in three UAE consumers buying groceries online multiple times a week, and categories like fashion, entertainment, and electronics seeing regular purchases monthly. However, friction during checkout can lead to abandoned carts and lost revenue for retailers. Visa's research underscores a growing preference for advanced payment technologies. A significant 67 per cent of UAE shoppers said they would adopt biometric authentication like fingerprint or face ID to check out online. Additionally, 65 per cent support a unified registration process for digital payments across websites. The report also highlights that 82 per cent of consumers would shop online more frequently if one-click checkout options were widely available, and 66 per cent are likely to use Visa's 'Click to Pay with Biometrics' feature. This solution simplifies online shopping by eliminating manual card entry, using secure device-based biometric authentication to speed up and protect the transaction process. Salima Gutieva, Visa's VP and Country Manager for UAE, said: 'Challenges in the online checkout process have direct implications for businesses, resulting in lost revenue, and hampering both customer acquisition and retention. 'Today's consumers expect – and deserve – a more seamless and secure eCommerce experience. That's why Visa is working with partners to enable solutions like Click to Pay, which leverages biometrics and tokenisation to eliminate key pain points and deliver a more convenient shopping experience.
The National
18 hours ago
- The National
Oil heading for weekly gain amid optimism over US-China tariff talks
Oil prices were up on Friday and were heading for their first weekly gain in three weeks amid hopes for a US-China deal on tariffs. Brent, the benchmark for two thirds of the world's oil, was up 0.11 per cent at $65.41 a barrel at 2.49pm UAE time. West Texas Intermediate, the gauge that tracks US crude, added 0.05 per cent to $63.40 per barrel. Both Brent and WTI, which reversed earlier losses on Friday, are on pace for a 4.2 per cent weekly gain. For the year, they are down about 12 per cent. Crude futures posted modest gains on Thursday, but the market became more optimistic after a phone call between US President Donald Trump and China's Xi Jinping, who agreed to resume negotiations on trade and tariffs. The US and China are the two main protagonists in the global trade war, imposing tit-for-tat levies on each other's imports. However, they agreed to a detente on May 12, with Washington lowering its 145 per cent tariffs on Chinese imports to 30 per cent, while Beijing dialled down its own levies from 125 per cent to 10 per cent. The call between the two leaders, a sign of progress in their countries' negotiations, 'prompt[ed] relief after a recent escalation in tensions', analysts at Vanda Insights said. Crude prices took a hit after Mr Trump's sweeping global tariffs announced on April 2 disrupted stock markets and reignited fears of a global recession. However, with many of the tariffs temporarily paused and the US seeking deals with its partners, the uncertainty has reduced. A positive sign for oil prices is the decline in US oil inventories, indicating demand for the commodity remains strong. At the moment, market fundamentals seem to remain balanced, especially after Opec+ last month agreed to increase its monthly oil output at 411,000 barrels per day for July, the same as in May and June, analysts at Fitch unit BMI said. The decision was 'in view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories', the group said. Opec+ noted that gradual increases may be paused or reversed 'subject to evolving market conditions' and 'flexibility will allow the group to continue to support oil market stability'. Analysts say the move by Opec+ may be a gesture to mollify Mr Trump, who has called for lower crude prices. BMI analysts, however, cautioned that any slower economic growth later in 2025 'will see markets tip into oversupply'. They also expect a similar production rise for August, 'should market conditions and prices remain steady'. 'But both weaker demand for oil and increased production from both Opec+ and non-Opec producers will add to downside price pressures in the coming quarters,' BMI said. Upstream oil investments are projected to be under $570 billion in 2025, which would be a 6 per cent decline, marking the first annual drop since the Covid-induced slide in 2020 and the largest since 2016, the International Energy Agency said on Thursday. The decrease is being attributed to lower oil prices and demand expectations, amid economic uncertainties, the Paris-based IEA said.
