• Loading stock data...

Economy

Impact of Singapore’s Economic Slowdown on Non-Resident Indians

World Economic Magazine June 25, 2023

Singapore’s economic slowdown and declining job market have raised concerns among non-resident Indians (NRIs) residing in the city-state. As the country faces challenges such as a contraction in the economy and declining exports, NRIs may find it more challenging to secure employment opportunities. However, amidst these difficulties, there are also opportunities to be found. Sectors like information and communication technologies and financial services continue to show resilience, indicating potential skill-specific job openings. To navigate this changing landscape, NRIs should focus on adapting their skills, networking, and staying updated with industry trends. By doing so, they can position themselves to overcome challenges and contribute meaningfully to Singapore’s economy.

GCC Governments Spearhead Efforts to Foster Inclusive Growth and Curtail Shadow Economy

World Economic Magazine June 19, 2023

The Gulf Cooperation Council (GCC) countries have made remarkable strides in managing their shadow economies, surpassing the global average significantly. Recent reports indicate that informal businesses in the region account for only 18% of the total GDP, showcasing the success of integration efforts. These achievements reflect the government’s commitment to foster inclusive growth and prioritize small and medium-sized enterprises (SMEs) as key drivers of economic prosperity. The GCC nations are positioning themselves as global leaders in curbing the shadow economy and creating a sustainable economic landscape through effective policies, such as enhanced tax enforcement, digitalization, and financial inclusion. By empowering SMEs and embracing an inclusive growth approach, the region is poised for long-term success and resilience.

Oman and Iran Foster Bilateral Collaboration and Economic Cooperation Through Strategic Agreements

World Economic Magazine June 6, 2023

Oman and Iran Unite for Economic Growth: Strategic agreements pave the Way for strengthened collaboration and investment opportunities. The Sultanate of Oman and the Islamic Republic of Iran join hands to foster bilateral ties and promote mutual prosperity. These landmark agreements mark a significant milestone in their shared economic growth and development pursuit. Together, they forge a prosperous future built on cooperation and respect.

Ominvest-Led Consortium Proposes Revised Offer to Acquire Majority Stake in Ahli Bank

World Economic Magazine May 26, 2023

In a game-changing move for Oman’s banking sector, a consortium led by Ominvest has proposed a revised offer to acquire a majority stake in Ahli Bank. With an enhanced cash offer, this strategic alliance aims to fuel growth opportunities and reshape the financial landscape. As the acquisition progresses, the potential implications for Ahli Bank and the broader banking industry in Oman are poised to unlock new horizons of competitiveness and collaboration. Stay tuned to witness the transformative journey of Ahli Bank and its impact on Oman’s financial future.

Fintech startups in The UAE

World Economic Magazine May 11, 2023

The United Arab Emirates has become a hub for fintech startups due to a tech-savvy population and supportive government policies. With the ADGM open banking framework and regulation for crypto assets activities, UAE regulators are keeping up with technological advancements while ensuring data privacy and protection. The challenges for foreign fintech companies looking to operate in the UAE include data processing restrictions and obtaining a local license, but with the right partnerships, these hurdles can be overcome to tap into the immense potential of emerging markets.

Overall, the UAE remains a globally competitive country in fintech, with regulators committed to staying ahead of the curve.

Unlocking the Future of ESG Investments

World Economic Magazine May 8, 2023

The rise of environmental, social, and governance (ESG) investments has seen an increase in demand for such products in the asset management market. However, concerns around the lack of clear ESG standards and the potential for “greenwashing” have regulators proposing new rules and guidance. Asset managers must ensure their ESG products deliver genuine outcomes to meet regulatory standards, but face challenges in finding enough investable opportunities in the market. The creation of high carbon transition funds by large institutional investors may offer a solution to the traditional divestment approach, contributing to real economy emission reductions. Firms launching new ESG products must stay ahead of the evolving regulatory environment, with KPMG’s Asset Management team offering effective ESG strategies and regulatory analysis to stay competitive.

How Digital Disruption is Impacting Traditional Banking in the Middle East?

World Economic Magazine May 2, 2023

Digital banks in UAE, Kuwait, and Saudi Arabia are posing significant challenges and opportunities for traditional banks in the region. While the prevalence of cash payments remains high, recent government policies, regulatory initiatives, and the outbreak of the COVID-19 pandemic are spurring rapid changes in the payments landscape. According to a survey conducted by McKinsey, 90% of payment practitioners believe that the shift toward digital payments will be permanent. Nonbank payment providers are predicted to emerge victorious by 60% of survey respondents, highlighting the importance of traditional banks prioritizing digitizing customer journeys and investing in fintech to remain relevant in this dynamic space.

Impact of Singapore’s Economic Slowdown on Non-Resident Indians

World Economic Magazine June 25, 2023

Singapore’s economic slowdown and declining job market have raised concerns among non-resident Indians (NRIs) residing in the city-state. As the country faces challenges such as a contraction in the economy and declining exports, NRIs may find it more challenging to secure employment opportunities. However, amidst these difficulties, there are also opportunities to be found. Sectors like information and communication technologies and financial services continue to show resilience, indicating potential skill-specific job openings. To navigate this changing landscape, NRIs should focus on adapting their skills, networking, and staying updated with industry trends. By doing so, they can position themselves to overcome challenges and contribute meaningfully to Singapore’s economy.

GCC Governments Spearhead Efforts to Foster Inclusive Growth and Curtail Shadow Economy

World Economic Magazine June 19, 2023

The Gulf Cooperation Council (GCC) countries have made remarkable strides in managing their shadow economies, surpassing the global average significantly. Recent reports indicate that informal businesses in the region account for only 18% of the total GDP, showcasing the success of integration efforts. These achievements reflect the government’s commitment to foster inclusive growth and prioritize small and medium-sized enterprises (SMEs) as key drivers of economic prosperity. The GCC nations are positioning themselves as global leaders in curbing the shadow economy and creating a sustainable economic landscape through effective policies, such as enhanced tax enforcement, digitalization, and financial inclusion. By empowering SMEs and embracing an inclusive growth approach, the region is poised for long-term success and resilience.

Oman and Iran Foster Bilateral Collaboration and Economic Cooperation Through Strategic Agreements

World Economic Magazine June 6, 2023

Oman and Iran Unite for Economic Growth: Strategic agreements pave the Way for strengthened collaboration and investment opportunities. The Sultanate of Oman and the Islamic Republic of Iran join hands to foster bilateral ties and promote mutual prosperity. These landmark agreements mark a significant milestone in their shared economic growth and development pursuit. Together, they forge a prosperous future built on cooperation and respect.

Ominvest-Led Consortium Proposes Revised Offer to Acquire Majority Stake in Ahli Bank

World Economic Magazine May 26, 2023

In a game-changing move for Oman’s banking sector, a consortium led by Ominvest has proposed a revised offer to acquire a majority stake in Ahli Bank. With an enhanced cash offer, this strategic alliance aims to fuel growth opportunities and reshape the financial landscape. As the acquisition progresses, the potential implications for Ahli Bank and the broader banking industry in Oman are poised to unlock new horizons of competitiveness and collaboration. Stay tuned to witness the transformative journey of Ahli Bank and its impact on Oman’s financial future.

Fintech startups in The UAE

World Economic Magazine May 11, 2023

The United Arab Emirates has become a hub for fintech startups due to a tech-savvy population and supportive government policies. With the ADGM open banking framework and regulation for crypto assets activities, UAE regulators are keeping up with technological advancements while ensuring data privacy and protection. The challenges for foreign fintech companies looking to operate in the UAE include data processing restrictions and obtaining a local license, but with the right partnerships, these hurdles can be overcome to tap into the immense potential of emerging markets.

Overall, the UAE remains a globally competitive country in fintech, with regulators committed to staying ahead of the curve.

Unlocking the Future of ESG Investments

World Economic Magazine May 8, 2023

The rise of environmental, social, and governance (ESG) investments has seen an increase in demand for such products in the asset management market. However, concerns around the lack of clear ESG standards and the potential for “greenwashing” have regulators proposing new rules and guidance. Asset managers must ensure their ESG products deliver genuine outcomes to meet regulatory standards, but face challenges in finding enough investable opportunities in the market. The creation of high carbon transition funds by large institutional investors may offer a solution to the traditional divestment approach, contributing to real economy emission reductions. Firms launching new ESG products must stay ahead of the evolving regulatory environment, with KPMG’s Asset Management team offering effective ESG strategies and regulatory analysis to stay competitive.

How Digital Disruption is Impacting Traditional Banking in the Middle East?

World Economic Magazine May 2, 2023

Digital banks in UAE, Kuwait, and Saudi Arabia are posing significant challenges and opportunities for traditional banks in the region. While the prevalence of cash payments remains high, recent government policies, regulatory initiatives, and the outbreak of the COVID-19 pandemic are spurring rapid changes in the payments landscape. According to a survey conducted by McKinsey, 90% of payment practitioners believe that the shift toward digital payments will be permanent. Nonbank payment providers are predicted to emerge victorious by 60% of survey respondents, highlighting the importance of traditional banks prioritizing digitizing customer journeys and investing in fintech to remain relevant in this dynamic space.

Nominate Now
Categories

© | All rights reserved.