Heriot-Watt University and Aurora50 have today released the ‘GCC Board Gender Index Report 2026‘, marking the third edition of this comprehensive study of women’s representation on the boards of publicly listed companies in the GCC.

For the third consecutive year, the report remains the only index of its kind to provide a unified view of board composition across all GCC local stock exchanges. The findings continue to highlight steady, incremental progress towards more inclusive corporate leadership across the region.

Key findings from this report are as follows:

• As of January 2026, women hold 7% of board positions across the GCC, up from 6.9% in 2025, reflecting a 1.4% year-on-year increase. While growth remains gradual, the data points to sustained momentum in advancing gender diversity in boardrooms.

• The index now covers 759 publicly listed companies across the GCC. Over the past year, the total number of board seats has increased from 5,668 to 5,755, representing a 1.5% rise.

• A total of 341 women now hold 403 board positions, up from 334 women and 390 seats in 2025. This reflects growth in both the number of women directors (2.1%) and board positions held (3.3%) across the GCC. Some women hold more than one directorship, indicating a broader increase in representation and participation at the board level.

• Country-level data shows that the UAE continues to lead the region for the third year running, with women holding 15% of board seats across its three stock exchanges, compared to 14.7% in 2025. Bahrain retains second position, with women occupying 10.5% of board seats, followed by Oman at 7%.

Country-wise, the percentage of board positions held by women at publicly listed companies across the GCC is as follows:

UAE: 15.0% (191 of 1,274 seats)

Bahrain: 10.5% (36 of 342 seats)

Oman: 7.0% (51 of 731 seats)

Kuwait: 5.6% (52 of 927 seats)

Qatar: 3.2% (15 of 467 seats)

Saudi Arabia: 2.9% (58 of 2,014 seats)

This year’s report also introduces sector-level analysis across 12 industries in all six GCC countries. Notably, the UAE and Saudi Arabia are the only countries in the region where women hold board positions across every sector. The financial sector accounts for the highest number of female board seats, followed by the industrial sector.

The top three sectors in the UAE by number of board seats held by women are Financial services, with 86 of 564 positions; the Industrial sector, with 35 of 214; and Consumer Staples, with 15 of 94.

Commenting on the launch of the GCC Board Gender Index 2026, Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Chairperson of diversity and inclusion agency Aurora50, said,  “Aurora50 is proud to partner for a third time with Heriot-Watt University Dubai on this authoritative GCC-wide benchmark that continues to deliver consistent tracking and provides transparent data in and for the region.

“It’s particularly encouraging to see the UAE’s progress in this space, with women’s board representation in the nation growing from 3.5% to 15% since 2020. This is a true testament to the vision of the UAE’s leadership in advancing gender equity in the workplace. Women in board positions bring broader perspectives, stronger governance, and significant organisational growth – at a time when the world demands resilient, adaptive business leaders, my hope is that the value of diversity will continue to be recognised and leveraged.”

Provost and Vice Principal of Heriot-Watt University Dubai, Professor Dame Heather McGregor, said, “The GCC Board Gender Index has, over time, become an important benchmark for understanding how boardrooms across the region are evolving. What stands out in this year’s findings is not just the increase in representation but also the consistency of that progress, underpinned by a growing breadth of data and insights.

The UAE continues to demonstrate what is possible with sustained focus, but there is a clear opportunity to accelerate more broadly across the region. Our collaboration with Aurora50 is grounded in a shared belief that rigorous, transparent data can play a meaningful role in shaping better outcomes. It is encouraging to see the region continuing to move in the right direction, and I am keen to build on this progress through our ongoing work, informed conversations and contribution to long-term, systemic change in board composition across the GCC.’

The GCC Board Gender Index, supported by Board Intelligence, AlixPartners and Grant Thornton, includes detailed data on board directors. Each company and director is uniquely identified to ensure accuracy and avoid duplication, particularly when companies are listed on multiple exchanges or directors serve on multiple boards. This approach enables the report to serve as a single, authoritative source of data for researchers, policymakers and industry stakeholders, while also elevating the visibility of women currently serving on boards and recognising the region’s ongoing progress.

Stuttgart and Bamberg, Germany – In the face of geopolitical tensions and trade barriers, the Bosch Group intends to exploit the growth prospects in its global markets with full innovative strength in the 2026 business year. The necessary upfront investments in areas of future importance are set to remain at the high level of previous years. In 2025 alone, Bosch devoted some 12 billion euros to investments in research and development and to capital expenditure. The supplier of technology and services is planning sales growth of 2–5 percent and an EBIT margin from operations of 4–6 percent for 2026. Referring to the presentation of the company’s annual figures, Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, said: “As a global technology leader, we are committed to shaping the trends of automation, digitalization, electrification, and artificial intelligence, as this also paves the way for profitable growth in our business. An important prerequisite for this are the cost-cutting effects of the structural measures we have already initiated and innovations in all business areas.” When it comes to innovative strength, Bosch is one of the strongest industrial companies in the world and one of the most prolific patent applicants in Europe. Bosch registered around 6,300 patents in 2025 and was once again the leader in Germany. Despite considerable challenges, Bosch was able to achieve sales revenue of 91.0 billion euros in the 2025 business year, slightly up on the previous year (2024: 90.3 billion euros). After adjusting for exchange-rate effects, this was equivalent to 4.1 percent growth. At 2 percent, the EBIT margin from operations was below the previous year’s figure (2024: 3.5 percent). Necessary structural and personnel adjustments to increase future viability had a considerable negative impact on result in the form of provisions of 2.7 billion euros. 

Strategy 2030: innovation and differentiation to boost growth To achieve successful business development in an adverse global economic environment, the company must keep its costs at a competitive level. With the conclusion of talks with employee representatives on the necessary job cuts at all affected Mobility locations in Germany, Bosch is improving its future competitive position in the face of increasing price pressure. “The negotiations weren’t easy, but both sides demonstrated a marked sense of responsibility,” Hartung said. “We are now implementing the agreed measures as quickly and consistently as necessary, but also in as socially acceptable a manner as possible.” In the automotive industry, China is currently setting the standard for price levels. Hartung therefore sees the expansion of innovation leadership as a key success factor for expanding business, particularly in the automotive market, and implementing the company’s Strategy 2030, which foresees Bosch being one of the three leading suppliers in its key markets. Trade barriers and different user expectations are currently both a challenge and an opportunity for regionally adapted solutions. “In international competition, it’s not just about costs, but above all about differentiating ourselves,” Hartung said, referring to Bosch’s global footprint, which he sees as a competitive advantage. “We can adapt our offerings and supply chains to regional conditions and at the same time deliver global-level quality.”

Business outlook 2026: generate financing for areas of future importance Bosch believes that the weak economic development of 2025 will continue in the current business year. High levels of uncertainty, primarily due to geopolitical developments with the as yet unpredictable effects of the war in the Middle East, are likely to continue to affect inflation and global economic output. Moreover, price and competitive pressure remains high. Nonetheless, in the first three months of the year, Bosch was able to keep its sales more or less at the previous year’s level; after adjusting for exchange-rate effects, revenue was some 5 percent higher. Bosch expects the global economy to achieve only moderate growth, at the level of recent years. “The foundation for profitable growth is our competitiveness – which is why we’re working hard to increase it further,” said Markus Forschner, member of the board of management and chief financial officer of Robert Bosch GmbH. “This strengthens our resilience in the face of upcoming challenges and at the same time boosts our investment capacity for the future.” In light of strategic opportunities and as a financial precaution, Bosch is expanding its scope accordingly: to ensure it will be able to issue financial instruments such as bonds more flexibly during the year, the company will for the first time publish interim consolidated financial statements and an interim group management report for the first half of the current business year. On this point, Forschner said: “This improves our ability to access the capital markets, even though we already have a strong capacity to finance our business from our own resources.”

Sensor technology as an innovation field: automation and robotics secure sales

Bosch is driving forward numerous innovations in microelectronics and sensor technology and expects its consistent focus on technology that is “Invented for life” to provide considerable growth impetus. Experts suggest that the global market for sensors could be worth more than 440 billion U.S. dollars by 2031. Bosch stands to benefit from growth in the potential applications: the company’s sensors are playing an increasingly important role in robotics. The BMI5 sensor platform, for example, creates artificial environments extremely realistically and helps robots find their way around even under difficult conditions. With this, its most powerful sensor solution to date, Bosch considers itself well positioned for a rapidly growing segment. In the field of automated driving, inertial sensors are regarded as a key component of the future and offer additional sales potential. They enable cars to maintain full awareness of their whereabouts even when camera or GPS signals aren’t available. “These sensors work for an automated car in much the same way as the sense of balance does in the human inner ear,” Hartung said. According to analysts, the market for intelligent sensors in automotive applications is set to almost double to more than 80 billion U.S. dollars by the middle of the next decade.

Innovations in the field of mobility: algorithms and powertrains boost growth 

Bosch expects the market for automotive software to be worth around 200 billion euros by 2030. As a result, Bosch chairman Hartung sees great growth opportunities in software-defined mobility. “Bosch is at the forefront in this area and is now literally bringing AI into the driver’s field of vision,” Hartung said. The new Bosch AI Extension Platform is an AI-capable high-performance computer that, in conjunction with an interior sensing solution, turns driving into a highly personalized experience. “The vehicle recognizes who’s at the wheel and detects whether there are any other passengers on board, then adjusts everything: from the exterior mirrors and vehicle handling to optimized airbag deployment in the event of an accident.” Product innovations in intelligent driver assistance solutions are also generating new business across all regions of the world:

together with sensor technologies and central vehicle computers, Bosch secured orders worth 10 billion euros in 2025. “Of course, the cars of the future will need not only algorithms but also powertrains,” Hartung said with regard to the growing business with electromobility. “This year alone, we will deliver more than 7 million solutions and components for electric driving.” Just a few weeks ago, Bosch announced a joint venture with Tata AutoComp Systems in India. Starting in the middle of the year, it will focus on the development, manufacturing, and sale of electric axles and motors in the Indian market.

Innovations in the field of consumer goods and services: AI is driving business forward

AI is providing significant growth opportunities in the services and product business as well. For example, a new oven model with an AI-based voice function is securing new sales potential for the BSH Hausgeräte division. No external loudspeakers or additional apps are required. Overall, the worldwide business with home appliances in the luxury and premium segment is expected to continue to grow, particularly in North America. Market experts estimate that global sales of home appliances will reach around 5 billion units by 2030. The use of AI is also driving product innovations in the Power Tools division. Since the start of the year, the first 30 tools in the Expert product line have been on the market and setting new standards for professional power tools. These include a new wall scanner that locates objects in different types of wall and uses Bosch radar technology in combination with AI object detection for the first time. Bosch’s services business is also benefiting from AI: The Bosch Global Service Solutions division also expects double-digit average sales growth by 2030 thanks to AIbased applications. Its service portfolio includes solutions for digital mobility services such as eCall and breakdown assistance as well as offerings for fleet operators and logistics providers. 

The 2025 business year: stable financial strength, liquidity, and R&D ratio 

Bosch achieved a positive free cash flow of some 300 million euros in 2025

(2024: some 900 million euros). The R&D ratio stood at 8.7 percent of sales

(2024: 8.6 percent). Expenditure on research and development amounted to 7.9 billion euros. “Even in difficult times, Bosch is prepared to make substantial upfront investments,” Forschner said. “Capital expenditure remained at a high level.” Bosch made considerable upfront investments in areas such as electromobility, semiconductors, and state-of-the-art braking control systems. At 41.6 percent, the equity ratio also remained high (2024: 44.3 percent). The Bosch Group continues to be financially solid, even though liquidity as per the consolidated statement of cash flows fell to 7.4 billion euros (2024: 8.2 billion euros).       

The 2025 business year: development by business sector

Sales development in the business sectors was held back both by the subdued economy in focus markets and by negative currency effects. The Mobility business sector recorded an increase in sales revenue of 0.1 percent to reach 55.8 billion euros. After adjusting for exchange-rate effects, this was equivalent to

2.9 percent growth. The EBIT margin from operations came to 1.8 percent (2024:

3.8 percent). In the Industrial Technology business sector, sales rose by 0.1 percent to 6.5 billion euros. Adjusted for exchange rate effects, the increase was 2.4 percent. The main reason for this was the downward trend on the North

American market. The EBIT margin increased to 3.5 percent (2024: 1.2 percent). In the Consumer Goods business sector, sales revenue fell by 1.9 percent year on year to 19.9 billion euros. Adjusted for exchange-rate effects, however, sales increased by 4.1 percent. The consumer goods business suffered in particular from a lack of impetus from the construction industry in China and the U.S. The EBIT margin from operations was 3.0 percent (2024: 3.5 percent). The Energy and Building Technology business sector generated sales of 8.5 billion euros. This is an increase of 13.0 percent, or an exchange rate-adjusted 15.6 percent. The EBIT margin from operations was 0.5 percent (2024: 4.9 percent). This was heavily influenced by one-off costs from acquisitions and sales activities.

The 2025 business year: development by region

While sales revenue in Europe declined slightly, Bosch recorded slight increases in the other regions of the world. In Europe, sales revenue fell by 0.6 percent year on year to 44.2 billion euros – but grew by 1.5 percent after adjusting for exchange-rate effects. In the Americas, sales revenue increased by 3.8 percent to 18.5 billion euros, or by 9.3 percent after adjusting for exchange-rate effects. In Asia Pacific, sales increased by 0.7 percent to 28.3 billion euros. Adjusted for exchange-rate effects, the growth rate amounted to a significant 5.0 percent. 

The 2025 business year: development of headcount

At the end of 2025, worldwide headcount in the Bosch Group stood at 412,774 associates (2024: 417,859), a reduction of around 1 percent (5,085 associates). This had the greatest impact on the Mobility business sector and regionally on Germany.

Acronis, a global leader in cyber protection, has announced the launch of Acronis GenAI Protection, a monitoring and security solution that enables managed service providers (MSPs) to control generative AI usage across client environments, preventing sensitive data exposure and protecting against malicious prompt manipulation. Acronis GenAI Protection represents the initial phase of Acronis Cyber Workspace, with additional capabilities planned for release to deliver a protected AI workspace, natively integrated into the Acronis platform.

As organizations rapidly adopt generative AI tools, businesses face growing risks related to data leakage, shadow AI usage, and malicious prompt manipulation. Many consumer-grade AI tools lack enterprise visibility, while enterprise solutions are not designed to be delivered and managed through MSPs. Acronis GenAI Protection addresses this gap by providing partners with a purpose-built solution to monitor and secure generative AI usage across SMB environments.

AI Monitoring and Security Delivered Through MSPs

Acronis GenAI Protection is designed to be provisioned, managed, and monetized by MSPs. Through a centralized console integrated into the Acronis platform, service providers can monitor AI usage across customer environments, including policy enforcement, reporting, and risk mitigation, while protecting generative AI interactions alongside data, applications, and endpoints.

“Generative AI adoption is accelerating, but it introduces new risks that businesses are not fully equipped to manage,” said Gaidar Magdanurov, President at Acronis. “MSPs are uniquely positioned to help businesses adopt AI securely, but until now they haven’t had the right tools to monitor and manage it effectively. GenAI Protection enables MSPs to turn AI security into a managed service, creating new revenue opportunities while protecting their customers from emerging risks.”

Built-In Protection for Generative AI Usage

Acronis GenAI Protection provides visibility and security for AI usage without requiring additional point solutions or enterprise-grade complexity.

Key capabilities include:

• Shadow AI usage and visibility: Discover and monitor generative AI applications used across client environments to understand adoption and risk exposure.
• Sensitive data protection for AI interactions: Inspect prompts for sensitive data such as PII or PHI and prevent unauthorized transmission to public or unsanctioned AI tools.
• Prompt injection and AI abuse prevention: Detect and block malicious prompts designed to manipulate AI behavior or compromise workflows.

“AI is now mainstream for SMBs, with over half using AI tools, led by marketing and sales seeking scale, productivity, and efficiency,” said Matthew Ball, Chief Analyst at Omdia. “While most adoption runs through SaaS, growing use of consumer AI, sanctioned or not, generates new security risks that create new requirements for MSPs to actively manage.”

As AI continues to evolve, Acronis plans to introduce additional AI-powered capabilities to protect, manage, and automate AI services and tools within its broader Cyber Workspace offering. These enhancements are designed to boost productivity and automation, enabling MSPs to streamline day-to-day operations while strengthening data and asset protection.