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Analysis

How emerging markets are navigating the rising cost of solar energy
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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 the world, due primarily to the increasing cost of solar-grade polysilicon…

Analysis

How the global insurance sector aims to mitigate environmental risk
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With the launch of a new joint initiative to support the countries that are most vulnerable to climate change, the global insurance industry is evolving in ways that could carry important implications for business in emerging markets. One such initiative, the Global Shield against Climate Risks (GSCR) was announced by the ministers of finance of the so-called Vulnerable Twenty Group (V20) and the…

Analysis

Why the GCC is primed for an expansion in initial public offerings
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The GCC saw a rise in initial public offerings (IPOs) in 2022 despite volatility in secondary markets, surpassing the previous year’s record high. The total number of IPOs in the region increased from 20 in 2021 to 48 in 2022, marking a 140% rise, and proceeds from GCC issuers increased by 211% from $7.5bn to almost $23bn over the same period. The growing number of successful IPOs in the region…

Analysis

Global ESG funds could be key to the energy transition, disaster relief
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Amid significant headwinds in 2022, environmental, social and governance (ESG) funds saw their first net outflow since 2011. However, the energy transition, climate-related threats to food security and the search for long-term value could prompt a resurgence of sustainable investment in emerging markets. Global ESG funds enjoyed a record run from 2019 to 2021, growing by 98% and seeing net inflows…

Analysis

Why social banking is key to financial inclusion in Saudi Arabia
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Financial inclusion is a pivotal concept in the evolving financial landscape. The term refers to the process of ensuring that vulnerable demographics gain access to financial services, as well as including the provision of timely and adequate credit at an affordable cost from mainstream institutions. A significant component of the financial inclusion paradigm is microfinance, which allows vulnerable…

Analysis

Why decentralised finance could be key to GCC economic diversification
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As GCC countries look to harness new forms of financial technology (fintech), expand their services and improve financial inclusion, governments are embracing decentralised finance (DeFi) and working to attract cryptocurrency companies. DeFi – peer-to-peer financial services with no central authority or intermediary involved in trading, lending and investing – is seen by GCC countries as an opportunity…

Analysis

How oil revenue surpluses are enhancing GCC integration
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While 2022 was a year of global economic uncertainty fuelled by inflation, geopolitical crises and supply chain insecurity, the Middle East witnesseda second consecutive year of economic growth, with countries in the region investing in new technologies and projects that could herald greater integration in the years ahead. In April 2023 the IMF’s “World Economic Outlook” projected that…

Analysis

New economic zones expand Saudi Arabia’s role in the global economy
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In April 2023 the Economic Cities and Special Zones Authority (ECZA) announced the launch of four new special economic zones (SEZs) that will have far-reaching implications for the Kingdom’s industrial sector, trade performance and the broader economy. These include King Abdullah Economic City (KAEC) SEZ in Rabigh, Ras Al Khair SEZ in the country’s north-east, Jazan SEZ on the Red Sea coast and…

Analysis

How Saudi Arabia is working to address climate change
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With a growing understanding of the importance of addressing environmental challenges, the Kingdom has increasingly aligned its policies, investment and initiatives with global climate change efforts. Vision 2030 addresses key sustainability issues, including harnessing abundant renewable resources, strengthening water preservation and safeguarding the environment. Although the journey has not been…

Overview

Tips and information for travellers to Saudi Arabia
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Etiquette There are social expectations for how interactions between unrelated men and women should be conducted. Businessmen should wait for a woman to offer her hand to shake in a meeting. In other situations, keep a respectful distance. Handshakes between men are common. Saudis pride themselves on their hospitality, and it is impolite to begin business without engaging in small talk first. In formal…