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Analysis

How the GCC’s higher education institutions aim to boost patent filing
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In terms of the filing of international patents, 2022 was a record-breaking year, with higher education playinga significant role in driving innovation and expanding international practices regarding intellectual property (IP). The UNWorld Intellectual Property Organisation (WIPO) reported in February 2023 that 278,100 international patents had been filed globally in 2022, a 0.3% increase…

Analysis

Saudi Arabia looks to e-sports to boost ICT innovation, investment
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The Gulf presents a significant growth opportunity for the global gaming industry due to its young and tech-savvy population, extensive government support, and continued investment in tourism, hospitality and entertainment. According to the 2022 census, 63% of Saudi Arabia's population is under the age of 30, with the median age being 29; the average disposable income for Saudi nationals is also relatively…

Analysis

How the GCC is working to bolster cybersecurity
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With global geopolitical instability elevating the threat of cyberattacks against businesses and government agencies alike, the GCC is rapidly developing more robust and comprehensive cybersecurity strategies to respond to the evolving nature of such threats. Since experiencing their first major cyberattacks in the early 2010s, the six members of the GCC have looked at ways to bolster their cybersecurity…

Analysis

The MENA region is poised to lead global steel decarbonisation
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As global industry seeks to reduce or eliminate its carbon footprint, a number of MENA countries are investing in green steel production to capture market share and help meet emissions targets. Industry generates 20% of global greenhouse gas emissions annually, with the steel manufacturing segment accounting for the largest share, at 7%, due in part to a reliance on coal to heat smelting furnaces.…

Analysis

GCC looks to space-related scientific and commercial opportunities
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In the push to embrace emerging technologies and leverage their potential commercial opportunities, Gulf countries have been launching new initiatives to bolster their growing domestic space industries. In June 2023 Saudi Arabia’s Council of Ministers approved the transformation of the Saudi Space Commission into a full government agency with the new heading of the Saudi Space Agency (SSA), underscoring…

Analysis

How Saudi Arabia is working to boost industrial production
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Launched in October 2022, the National Industry Strategy (NIS) aims to promote non-oil exports and attract investment, using advanced technologies along with value-added manufacturing to drive sustainable growth and development. These are expected to supplement the traditional drivers of the Saudi industrial landscape, such as oil, basic manufacturing and petrochemicals. The NIS targets 12 industrial…

Analysis

Why desalination could be solution to water shortages
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Desalination is considered an expensive and energy-intensive process. However, mega-projects are seeking to tap renewable resources to limit the cost and environmental concerns associated with this crucial process. In June 2022 ENOWA, the energy, water and hydrogen subsidiary of Saudi Arabia’s NEOM mega-project, signed a memorandum of understanding with French energy company Veolia and Japanese trading…

Analysis

Saudi Arabia develops green hydrogen capacity at NEOM
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With more than 1000 projects – nearly 800 of which are set to be commissioned by 2030 – requiring $320bn in investment having been announced globally, the hydrogen market’s growth is aligned with ongoing decarbonisation endeavours. Saudi Arabia, where oil revenue contributed an average of 75% of total budget revenue between 2010 and 2022, is at the forefront of this process. Guided by Vision…

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…