Analysis

Sustainability focus boosting bottom lines globally
OBG
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As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects. The UN’s Net-Zero Asset Owner Alliance (NZAOA) reflects an ongoing change in the global industry towards the wider recognition of the risks associated with climate change. However, the…

Analysis

Sustainability transforming investment in emerging markets
OBG
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Impact investment – which is purposely designed to generate tangible social and environmental benefits alongside financial returns – presents promising risk-adjusted prospects. This type of investment not only provides value for investors, but can also greatly advance the UN Sustainable Development Goals. According to the Global Impact Investing Network (GIIN), the impact investing market has…

Analysis

How new regulatory frameworks attract FDI to Saudi Arabia
OBG
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Saudi Arabia has made substantial progress in attracting foreign investors to its capital markets in recent years, transforming the Kingdom into a key destination for global capital. Through a series of strategic reforms – including the easing of foreign ownership restrictions, the inclusion of Saudi stocks in major global indices and enhanced regulatory frameworks – the Kingdom has opened its…

Analysis

High demand for digital payment platforms in emerging markets
OBG
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Despite the ongoing macroeconomic and geopolitical headwinds experienced by the global economy, one area of the international financial system that has shown steady progression is digital payments. Since the Covid-19 pandemic, they have been spurred by a jump in remittance flows, and the greater availability of digital infrastructure and services, as well as higher demand for fast and seamless non-physical…

Analysis

Open banking rules streamline financial services in Saudi Arabia
OBG
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Open banking represents a transformative shift in the financial services industry, allowing third-party providers to access consumer financial data securely through application programming interfaces (APIs). This approach is reshaping the financial ecosystem and creating opportunities for banks and financial technology (fintech) companies to enhance their products, services and internal processes.…

Analysis

How AI can augment economic growth in Saudi Arabia
OBG
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Saudi Arabia identified the transformative power of artificial intelligence (AI) early on, recognising its potential to drive economic diversification, enhance efficiency across sectors and position the Kingdom as a global leader in cutting-edge technology. In 2020 under the directive of King Salman bin Abdulaziz Al Saud, the government introduced a comprehensive national strategy for data and AI,…

Analysis

Giga-projects and partnerships draw investment to Saudi Arabia
OBG
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Beginning in January 2024 multinational companies intending to do business in Saudi Arabia with government entities will now be required to incorporate their regional headquarters in the Kingdom. Multinationals that fail to do so will find themselves unable to negotiate agreements with Saudi governmental bodies, which face restrictions from the Ministry of Finance on their ability to contract or do…

Analysis

First Gulf-ASEAN summit supports inter-regional collaboration
OBG
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Trade between the GCC and the Association of SouthEast Asian Nations (ASEAN) has grown considerably in recent years as economies in both regions seek to capitalise on mutually beneficial opportunities, and diversify their trade and investment partners. Indeed, trade between the GCC and Asian countries classified as emerging and developing by the IMF increased 34.7% year-on-year to reach $516bn in…

Analysis

Localisation creates employment opportunities across GCC
OBG
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GCC countries have been actively pursuing workforce nationalisation policies to reduce their reliance on expatriate workers and create sustainable employment opportunities for their growing local populations. Notably, Saudi Arabia has set ambitious workforce nationalisation targets as part of Vision 2030 and for socio-economic transformation. By the first quarter of 2022 the Kingdom had achieved a…

Analysis

Saudi Arabia promotes heritage sites as tourist attractions
OBG
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With Saudi Arabia making significant strides towards realising its Vision 2030 roadmap for economic diversification, the tourism industry has emerged as a key alternative engine of growth. While many of the attractions underpinning the expansion of Saudi Arabia’s tourism sector are technologically advanced offerings, a key pillar of the government’s approach to developing tourism is maintaining…