report

  • Illegal cigarettes cost GCC governments $210 million in lost taxes

    Philip Morris International (PMI) has collaborated with Oxford Economics to monitor and analyse total consumption, domestic sales, and lost tax revenues due to illicit trade in the GCC region.

  • 49% of UAE shoppers likely to shop cross-border

    At an exclusive Breakfast Club Seminar, held recently by DHL Express, the world’s leading international express service provider - UAE related e-commerce insights from a global survey by PayPal was revealed. Titled ‘World of Opportunities for the UAE Merchants’ the findings depict highly encouraging trends pertaining to cross-border e-commerce amongst digitally-savvy consumers in the Middle East and other regions. Nearly half of the consumers in the UAE – at 49%, prefer to shop cross-border, based on their numerous preferences such as availability, affordability, convenience and security - reveals the survey, among other interesting results.

  • 70% UAE Parents Believe Creative Thinking and Languages Are Most Important Skills To Future-Proof Children’s Careers

    Swiss International Scientific School in Dubai (SISD) today reported that parents in the UAE are increasingly aware of the importance of selecting a school curriculum that teaches skills that are essential for future careers. In fact, 95% of UAE parents recognize the importance of checking a school’s curriculum to ensure it covers the required skills for future jobs. According to the survey, parents believe that the top three important skills required will be creative/innovative thinking (75%), emotional intelligence (70%) and languages (70%).

  • 93.2% of MENA Professionals Say Employers Are Responsible to Promote Health and Wellbeing

    The Bayt.com ‘Health and Wellbeing in the MENA’ poll, conducted with over 9,000 respondents in the region, revealed a variety of insights about lifestyles of professionals and how employers can elicit a healthy change in the workplace. According to the poll, a great majority (93.2%) of respondents believe that it is the employer’s responsibility to promote health and wellbeing at work. In fact, nearly 7 in 10 respondents place greater value on health insurance compared to a higher salary.

  • A flying economy – the economic powerhouse above the clouds

    For the people of Flyland – the 11.9 million individuals from around the world who take to the air every day – business is soaring, according to new research and analysis from HSBC.

  • ABILITY TO EMBRACE TECHNOLOGY WILL DETERMINE FUTURE OF FOOD MANUFACTURING IN THE GCC, SAYS GLOBAL EXPERT

    The future of the GCC’s food manufacturing sector lies in the readiness and ability of its key players to embrace new technology and deliver competitive advantage, according to a leading global leader in organic and natural products.

  • Accelerated integration, investment and empowerment are key to the Arab region’s growth and global engagement

    Beirut Institute and A.T. Kearney's National Transformations Institute have issued a substantive report titled ‘Constructing the Arab Region’s Engagement in the Emerging Global Future’. The report presents innovative policy recommendations from senior global and regional policy-makers, thought leaders and next generation innovators following Beirut Institute Summit Edition II which took place in May 2018.

  • Airbnb is Just One Part of Dubai’s Sharing Economy

    SHARING ECONOMY SPENDING PASSES $10 BILLION 

    Within the GCC, estimated spending in the sharing economy has topped $10 billion. While the transportation sector has seen the highest spending at nearly $3 billion, the accommodation section is expected to see the highest rate of growth going forward— whopping 42%. From those registered with sites like Airbnb and Booking.com and the guests that use the sharing economy for accommodations, this growth rate is exciting.

  • Arc Faults Can Trigger $46,000 Downtime Costs Per Day

    Research by Eaton estimates the cost of production downtime alone could reach $46,000 within 24 hours of an arc fault. Then there is the threat to life safety posed by the initial explosion, the potential for reputational damage and the the cost of replacement assemblies and parts to consider. These can be catastrophic consequences, particularly in power-critical environments such as process plants and hospitals. As such, the power management company has launched a campaign to highlight the risk of arc faults arising from low-voltage electrical distribution panels in commercial and industrial buildings.

  • Bahrain tops World Bank Index for Human Capital in MENA Region

    The World Bank last week announced its inaugural Human Capital Index, with Bahrain coming in the lead for the MENA region. Focusing on health and education, the Index measures how productive a child born today will be by the time they turn 18, where the Kingdom’s score increased by 6% since the research project started in 2012.

  • Bayt.com Poll: 95% of MENA Job Seekers Want Companies to Engage with Them via Online Job Sites

    In today’s hyper competitive market, companies have to find ways to differentiate themselves to become an employer of choice and ensure not only talent attraction, but also retention.

  • Black Friday alert: popular online fashion shops among top targets for data stealing malware in 2018

    As the big annual holiday shopping season gets underway, new Kaspersky Lab research shows that banking Trojans are actively targeting online users of popular consumer brands, stealing credentials and other information through these sites. Kaspersky Lab technologies detected 9.2 million attempted attacks by the end of Q3, 2018, compared to 11.2 for the whole of 2017, with detections for one malware family up by 34%. Half all online shops attacked were well known consumer apparel brands including fashion, footwear, gifts, toys and department stores. Online shoppers in Italy, Germany, the US, Russia and emerging markets appear to be particularly at risk.  

  • Commodities hurt by global market rout

    Commodities remained exposed to broad-based selling this past week. For a third consecutive week, the sector struggled to put up a defence against the challenging combination of rising US interest rates, a strong dollar and the global equity rout, which has now spread to the US market.

  • Commodities: Trump, sanctions and tariffs

    The direction of many major commodities will continue to be influenced by the decisions taken in Washington during the past six months.  Apart from the weather, which has delivered challenges as well as opportunities across the agriculture sector, President Donald Trump’s trade war with China and sanctions against Iran will keep setting the tone for the rest of the year.

  • Countdown to the ‘G2’ showdown

    A holiday-shortened week due to US Thanksgiving proved another very challenging period for commodities. Continued weakness in crude oil and products, as well as agriculture, more than offset a small pickup in demand for precious metals. These developments helped drive the Bloomberg Commodity index towards its biggest weekly loss in five months and to the weakest close in 15 months.

  • Criteo’s Q2 2018 Global Commerce Review Points to Continued Growth of In-App Transactions

    Criteo (NASDAQ: CRTO), the advertising platform for the open Internet, has released its second Global Commerce Review of the year with data gathered during the second quarter of 2018. The report analyzed browsing and purchasing data from over 5,000 retailers in more than 80 countries and found that shoppers continue to embrace mobile web and smartphone app technology for purchases, especially among pure-play online retailers.  

  • Cryptocurrencies: China leads the way

    Emerging markets have a critical role in the cryptocurrency mining industry. This importance is due to the abundant manufacturing capacity and cheap electricity available in some emerging economies. China, by and large, plays a pivotal role in the industry. First, most of the manufacturers producing specialised hardware that verifies and secures the largest cryptocurrency networks have most of their operations based in China. Second, China has the largest hash rate (or computing power) of any country. Most figures put China’s contribution to the Bitcoin network at more half of the world’s mining capacity, meaning that most of the revenue from securing cryptocurrency networks flows to Chinese operators.

  • Debate about auditor scepticism must address public concerns, says ICAEW

    Debate about auditor scepticism needs to be more substantial and constructive, according to ICAEW’s latest report Scepticism: The Practitioners’ Take. The report captures fresh insights from auditors, and those who train and regulate them. It highlights what auditors are doing and recognises that they have lessons to learn, but also says that it is unhelpful to use ‘lack of auditor scepticism’ as a catch-all explanation for anything that goes wrong on audits.

  • Dimension Data Launches Annual ‘Tech Trends’ Forecast for 2019

    Dimension Data, the USD 8 billion global technology integrator and managed services provider, today launched its Tech Trends 2019 report developed by its team of technology experts. It identifies fundamental industry trends that will come to define the business technology landscape in 2019 across customer experience, cybersecurity, digital business, digital infrastructure, digital workplace, technology futures, and services. In the report, Group CTO Ettienne Reinecke claims that 2019 will finally see digital transformation become a reality and predicts a spate of industry-wide disruption as innovative companies see long-term projects bear fruit.

  • Dubai’s free zones to evolve in response to global digital trends, says JLL

    Dubai’s real estate sector is responding to global  trends by moving away from the traditional model of free zones, and encouraging greater diversity through new digital clusters, reveals JLL’s new report, launched at Cityscape 2018.