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October 19, 2021
The Middle East Is Looking to Dominate the Hydrogen Race
Climate control having become a top item on global agenda there is a rush to adopt non-fossil fuel sources like wind, solar and hydrogen. The development of wind and solar energy is progressing rapidly and the cost of power generation from these sources is falling rapidly. The renewable power sector growth is fueling ambitions for a hydrogen fuel economy for transportation, power generation, industry and residential heating purposes. Sources indicate that we may see hydrogen starting to become competitive with...
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September 29, 2021
Dubai World 2010 to China Evergrande Group 2021; Looking Beyond Leverage
From a bird’s eye view, the Evergrande debt crisis of 2021 and the Dubai world real estate crisis of 2010 would seem very close. In both the debacles, the supply outstripped the demand and leverage, being the double-edged sword, hampered the company finances with timely contractual obligations due in a period marked with high volatility and liquidity crunch. Evergrande group has debt worth USD 88.8 billion in 2021 relative to Dubai World’s debt of roughly USD 59 billion in 2010....
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September 28, 2021
Private sector participation in Saudi Healthcare picks up pace
Saudi Arabia has recently undertaken initiatives to increase private sector participation in its healthcare sector and improve competency of its healthcare workforce. The country has also highlighted key segments of focus in the healthcare sector. Saudi Arabia’s growing population with expected increase in average age and rising lifestyle related diseases are indicative of the uptrend in demand for healthcare in the country. As the Saudi Healthcare sector is predominantly operated by Ministry of Health (MoH), the demand could overload public...
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September 20, 2021
Changing consumer habits amid COVID-19 accelerates decline of Saudi Arabia bank branches
Bank branches operating in Saudi Arabia have reduced by 4.6% y/y in Q2 2021 to 1,969 branches (SAMA). The number of branches had been on a year-on-year declining trend since Q3 2020, with the current quarter posting the highest decline. The number of ATMs has also decreased by 9% y/y in Q2 2021. Operational considerations and uptake of digital banking, accelerated by COVID-19, seem to have contributed to the trend. Total Bank Branches in Saudi Arabia Source: SAMA According to...
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September 12, 2021
Profits at UAE’s major lenders reached USD 4 billion in H1 2021
Profits at the four largest UAE banks rose during the first half of 2021 after an improvement in the operating environment led to lower loan-loss provisions, rise in non-interest income and improvement in operating efficiency. The combined net profit of four major banks, First Abu Dhabi Bank (FAB), Emirates NBD (ENBD), Abu Dhabi Commercial Bank (ADCB), and Dubai Islamic Bank (DIB) reached USD 4 billion in H1 2021, up 17% from the same period last year. The four big banks...
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September 6, 2021
Kuwait Luxury Retail – Evolving amid COVID-19
Kuwait boasts the presence of several major luxury brands such as Prada, Gucci, Louis Vuitton and Chaumet, Bottega Veneta etc. Ranking 13th in the world in terms of per capita GDP, its affluent and brand conscious population, young demography, and a growing population position Kuwait’s luxury retail market favorably. A dedicated luxury retail district in The Avenues, the largest mall in Kuwait, homegrown luxury brands like K7L and e-commerce players such as Chic Kuwait further highlight the uptake of luxury...
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August 25, 2021
Saudi Arabia eases regulation to support SMEs and Entrepreneurs
Saudi Arabia will exempt small and medium enterprises (SMEs) from commerce fees register for three years as the country plans to boost the number of start-ups in the economy. Fees will start in the fourth and fifth year, but at a reduced rate of SAR 500 (USD 133) for entrepreneurs and SAR 200 for entrepreneurs with a capital of less than SAR 375,000 and whose employees do not exceed five in number. This initiative was taken to support and reduce...
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June 23, 2021
Landscape of valuation services in GCC
Interview with Mr. M. R. Raghu, CEO, Marmore MENA Intelligence What is the market size of private firms in GCC? Private firms encompass of any non-listed firms, these firms could be large family run businesses or small and medium enterprises. Private firms have great importance in terms of its contribution to the GDP for their respective economies and for employment generation. In the GCC, SMEs constitute close to 90% (i.e. about 1.5 million SMEs) of the total companies’ base. The...
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June 7, 2021
Why business and market intelligence important for GCC corporates?
Interview with Mr. M.R.Raghu, CEO, Marmore MENA Intelligence Do GCC companies actively seek market intelligence? Private organizations in the GCC often find themselves in a situation where they need to make decisions of considerable importance with substantial consequences under uncertainty. In such scenarios, they seek out more information to enhance their understanding and take calculated risks. The foremost procurers and users of market intelligence, the private sector, obtains research for a wide variety of reasons, ranging from strategic, economic, industry,...
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May 30, 2021
GCC retail sector in the post-covid world: Bound for a “K” shaped recovery
The pandemic has changed the lives of billions of global citizens. Businesses have been forced to adopt new ways of functioning. The post pandemic world is expected to be never like before and experts have christened it as the “new-normal”. The GCC retail sector is no exemption to this. Being one of the region’s important sector for the economy, the retail sector has witnessed one of its worst performance in 2020. GCC retail sector, unlike in other regions, is not...