The regulatory landscape for Gulf financial service providers is changing, with growing awareness of the need for banking institutions to adopt sustainable finance frameworks and responsible lending and operational practices in order to manage risk and attract international investment. By establishing sustainable finance frameworks, banking institutions are able to structure their sustainable lending…
On leveraging innovative technologies to facilitate economic diversification and small business financing What can local banks do to provide more support for economic diversification, and which sectors have the greatest potential to catalyse growth? GEORGE RICHANI: Diversification efforts are moving ahead in line with the New Kuwait 2035 vision, even though the pace of economic transformation…
– Gulf NOCs are expanding their carbon capture and hydrogen capacity – Partnerships with foreign companies are creating new trade opportunities – Middle East could capture up to 50m tonnes per annum of carbon by 2030 – Saudi Arabia aims to become a world leader in hydrogen production and export As hydrocarbons producers reap sustained revenue from high global prices, national oil companies…
– In June the GCC and the UK officially launched negotiations for a free trade agreement – The deal is expected to boost renewable energy and food security in the bloc – The launch comes as the GCC looks to attract investment for diversification plans – A final agreement would expand the GCC’s global trade footprint As part of plans to expand and diversify its global trade partners,…
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– Gulf countries have moved to revive the GCC Railway project – The rail link would significantly improve connectivity and trade within the bloc – Saudi Arabia, the UAE and Qatar have all improved transport networks in recent years – It is hoped that the project will give impetus to rail development elsewhere in the bloc Following delays, the long-awaited GCC Railway looks likely to…
Food production in the GCC has long faced obstacles ranging from water scarcity to a lack of arable soil – factors that are being exacerbated by climate change. Prior to Covid-19, imports accounted for 85% of the region’s collective food needs. However, the disruption to global supply chains precipitated by the pandemic – as well as the more recent invasion of Ukraine by Russia – has underlined…
– Russia'sinvasion of Ukraine has intensified the risk of regional food insecurity – Many MENA countries source a significant share ofcerealimports from the region – In the GCC, government initiatives are seeking to bolster food self-sufficiency – North African agri-tech start-ups work to boostproductivity Nations in the MENA region have been intensifying…
The GCC chemicals and petrochemicals industry demonstrated considerable resilience in the face of Covid-19 and oil price fluctuations. With economic diversification a leading concern for GCC economies, this publication details the structure, key stakeholders, and strategic contribution of chemicals and petrochemicals to economic diversification in the region. The report evaluates regional petrochemicals…
