Tag Archives: the Gulf Cooperation Council (GCC)

As public and private entities across the world weigh how to utilise generative artificial intelligence (AI) technology, GCC countries are embracing the new tool as a way to transform their education sectors. The November 2022 release of ChatGPT by Silicon Valley-based start-up OpenAI unleashed a wave of excitement and concern …

With high energy prices and supply chain disruptions creating shortages of key renewable energy components and materials, emerging markets are reassessing how to build out utility-scale solar power to accelerate their energy transitions. After more than a decade of decline, the cost of solar photovoltaic (PV) panels has risen around …

With global geopolitical instability elevating the threat of cyberattacks against businesses and government agencies, the six countries of the GCC are rapidly building more robust and comprehensive cybersecurity strategies to respond to the evolving nature of cyberthreats. In a January 2023 survey of 117 global leaders from 32 countries and …

Adnoc Drilling, the largest national drilling company in the Middle East by rig fleet size, is looking to expand into the GCC as drilling activity increases after a surge in crude oil prices, according to the company’s chief executive. Rig activity in the GCC, which includes Bahrain, Kuwait, Qatar and …

GCC GDP is expected to grow by 6.7% this year, the fastest rate since 2011, driven by higher oil production, the recycling of government revenues into investment initiatives and, to a lesser extent, household and business spending. However, the possibility of a global recession limiting oil demand remains a key …

After six challenging years for the GCC construction industry, contractors, consultants and suppliers can at last look forward to a return to growth and the prospect of rising project opportunities in 2022. With some $1.4tn-worth of construction and transport projects planned in the GCC yet to see their main contracts …

A broad-based rally in GCC markets coupled with elevated oil prices have pushed the MSCI GCC aggregate benchmark up 17.7% during Q1-2022, the biggest gains since Q2-2009. Gains were supported by four consecutive months of gains in the index, according to Kamco Invest a premier investment company based in Kuwait. …

Geopolitical tension in Eurasia has ruffled financial markets in recent weeks and contributed to the almost 20 per cent increase in oil prices since the start of 2022. In addition, oil markets are expected to remain relatively tight in the first quarter of this year, as supply is only gradually …

Qatar has based its 2022 fiscal budget on an average oil price estimate of $55/b, up from $40/b in 2021, thanks to the improvement in international energy prices, the country’s finance minister said Dec. 7. “The remarkable recovery in global energy prices, which still reflects the continued adoption of conservative …

GCC economies are expected to return to an aggregate growth rate of 2.6% in 2021 due to stronger oil prices and the growth of non-oil sectors, and will accelerate into 2022 as OPEC+-mandated oil production cuts are phased out and higher oil prices improve business sentiment and attract additional investment, …