Analysis Markets Gulf economies brace for escalation in Israel-Iran war Over the weekend, an Iranian general and member of parliament said that the Islamic Republic was “seriously reviewing” the possibility of closing the Strait of Hormuz, thereby threatening to cut an economic lifeline for Gulf oil producers. Iran has also threatened to strike American bases in Arab countries, should the US enter further into the […] June 18, 2025
Trade Iran-Israel conflict cuts off Oman’s strategic town The conflict between Iran and Israel has cut off supply lines for local traders in Oman’s coastal town of Khasab in the strategic Strait of Hormuz. Police watch the Khasab seafront, and their patrol boats are stopping vessels from sailing towards Iran. Located in the Musandam Peninsula in the northern tip of Oman, the town […] June 18, 2025
Aviation Flynas slides on first day of trading Budget airline Flynas saw its share price drop on the first day of trading on Tuesday as the Saudi Exchange continued to slide following the outbreak of conflict between Israel and Iran. It concluded the biggest initial public offering in the GCC this year, in which Flynas raised SAR4.1 billion ($1.1 billion), becoming the first […] June 18, 2025
OpiniontradeWas Dubai Chambers’ group welcomed with open arms to Mozambique? Not quiteLiz Bains, Journalist
Opinionoil & gasThe UAE and Saudi deals for American LNG will, of course, please President TrumpRobin Mills, CEO, Qamar Energy
OpinionOIL & GasThe prospect of closing Hormuz grows with each missile between Tel Aviv and TehranFrank Kane, Editor-at-Large
Analysis Aviation Boeing equipped to meet historic Gulf orders Gulf airlines can rest relatively easy about the fate of tens of billions of dollars worth of new Boeing jets they ordered during US President Donald Trump’s trip to Qatar, Saudi Arabia and the United Arab Emirates last month. At least that’s the case as long as the American aircraft manufacturer continues to address the […]
Analysis Telecoms Good, but could be better: Telecoms giants rely on local lines The Gulf’s two biggest telecom operators by market capitalisation, Saudi Telecom Co (STC) and Abu Dhabi-listed e&, remain persistently reliant on their legacy domestic businesses despite long-stated pledges to become tech conglomerates. Investors seem little impressed by their efforts – e&’s stock is trading 57 percent below an April 2022 all-time high and STC is […]
Analysis Banking and Finance Retail and corporate lending help UAE banks to prosper Consumer demand for mortgages, credit cards and personal loans as well as increased corporate and government borrowing helped most major UAE banks post double-digit rises in profits in the first quarter of this year. The profit surge, which comes despite a greater tax burden on the sector, has supported a renewed rally in banking stocks. […]
Markets PIF banks Nintendo win but may have sold too soon Saudi Arabia’s Public Investment Fund (PIF) pocketed an estimated profit of 175 billion yen ($1.22 billion) trading Nintendo shares, but it may yet rue trimming its stake just months before the Switch 2 console’s record-breaking debut last week. The PIF has invested in video game publishers and console makers worldwide, as part of its push […]
Analysis Construction Slowdown looms for Saudi construction as PIF cuts contracts The number of construction contracts issued by the Saudi government and the Public Investment Fund (PIF) has fallen drastically amid a decline in oil revenues and a realignment of large-scale infrastructure projects. The drop indicates a slowdown in the Saudi construction sector, previously one of the most vibrant in the world. Last year it accounted […]
Analysis Aviation Boeing equipped to meet historic Gulf orders Gulf airlines can rest relatively easy about the fate of tens of billions of dollars worth of new Boeing jets they ordered during US President Donald Trump’s trip to Qatar, Saudi Arabia and the United Arab Emirates last month. At least that’s the case as long as the American aircraft manufacturer continues to address the […]
Analysis Telecoms Good, but could be better: Telecoms giants rely on local lines The Gulf’s two biggest telecom operators by market capitalisation, Saudi Telecom Co (STC) and Abu Dhabi-listed e&, remain persistently reliant on their legacy domestic businesses despite long-stated pledges to become tech conglomerates. Investors seem little impressed by their efforts – e&’s stock is trading 57 percent below an April 2022 all-time high and STC is […]
Analysis Banking and Finance Retail and corporate lending help UAE banks to prosper Consumer demand for mortgages, credit cards and personal loans as well as increased corporate and government borrowing helped most major UAE banks post double-digit rises in profits in the first quarter of this year. The profit surge, which comes despite a greater tax burden on the sector, has supported a renewed rally in banking stocks. […]
Markets PIF banks Nintendo win but may have sold too soon Saudi Arabia’s Public Investment Fund (PIF) pocketed an estimated profit of 175 billion yen ($1.22 billion) trading Nintendo shares, but it may yet rue trimming its stake just months before the Switch 2 console’s record-breaking debut last week. The PIF has invested in video game publishers and console makers worldwide, as part of its push […]
Analysis Construction Slowdown looms for Saudi construction as PIF cuts contracts The number of construction contracts issued by the Saudi government and the Public Investment Fund (PIF) has fallen drastically amid a decline in oil revenues and a realignment of large-scale infrastructure projects. The drop indicates a slowdown in the Saudi construction sector, previously one of the most vibrant in the world. Last year it accounted […]
Economy UAE to post fiscal surpluses until 2028 despite headwinds The UAE is expected to maintain fiscal surpluses through 2028 despite lower oil prices and global economic headwinds, according to S&P Global. The surplus is expected to average 3.2 percent of GDP between 2025 and 2028, based on assumed Brent oil prices at $60 per barrel in 2025 and $65 per barrel through 2028. In […] June 18, 2025
Markets Markets slip again on 6th day of Iran-Israel airstrikes Gulf stock markets slipped in early trading on Wednesday, extending declines as the Iran-Israel conflict made investors more risk averse. Dubai’s index was down 0.8 percent before midday local time, poised for its fifth drop in six sessions since it hit a 17-year high on June 10. However, selling pressure has been relatively muted across […] June 18, 2025
Trade Dubai shifts into global top tier for events impact Dubai’s large-scale events are having a positive impact on the local economy, buoying a variety of sectors and propelling the emirate into the “global top tier” of cities with the most influential events industries, analysts say. The most recent figures from the Dubai World Trade Centre (DWTC) show that a record number of events staged […] June 18, 2025 In association with
Artificial Intelligence UAE to plough $440bn into US energy to meet AI demand Abu Dhabi National Oil Company (Adnoc) CEO Sultan Al Jaber has urged an overhaul of the electricity grid for the artificial intelligence era as he pledged a six-fold increase in investments in the United States. Al Jaber, who also serves as the Emirates’ minister of industry and technology, told the Atlantic Council’s Global Energy Forum […] June 18, 2025
Transport Charging demand grows as Dubai warms to EVs Power consumption by electric vehicle chargers in Dubai increased by almost a quarter year on year during the first three months of 2025, as the number of vehicles and drivers continues to grow. There were more than 39,000 EVs on Dubai’s roads by the end of the first quarter, an increase of 5 percent year […] June 18, 2025
Aviation Flynas slides on first day of trading Budget airline Flynas saw its share price drop on the first day of trading on Tuesday as the Saudi Exchange continued to slide following the outbreak of conflict between Israel and Iran. It concluded the biggest initial public offering in the GCC this year, in which Flynas raised SAR4.1 billion ($1.1 billion), becoming the first […] June 18, 2025
Finance SNB’s bond issuance gets orders of over $4bn The order book of Saudi National Bank’s (SNB) $1.25 billion bond sale swelled to more than $4 billion following high demand from local and global investors. The Saudi-listed lender’s Tier 2 capital notes have a tenor of 10 years and a spread of 200 basis points over US Treasuries, Bloomberg reported, quoting an unnamed source. The […] June 18, 2025
Aviation Flynas takes off on the Saudi Exchange Budget airline Flynas will begin trading on the main market of the Saudi Exchange, concluding the biggest initial public offering in the region this year. The airline is issuing 30 percent of its share capital for $1.1 billion. It will launch on the exchange with a final offer price of SAR80 ($21.33), implying a market […] June 18, 2025
Utilities Saudi Electricity seeks $1bn loan for new projects Saudi Electricity Co, 74.3 percent owned by the Public Investment Fund, is reportedly raising SAR3.8 billion ($1 billion) to fund new projects. The loan will have a five-year tenor and pay an interest margin of nearly 85 basis points over US treasuries, Bloomberg reported, quoting unnamed sources. Japan’s Sumitomo Mitsui Banking Corporation is acting as the […] June 17, 2025
Aviation Two PIF units order 65 Airbus jets at Paris Airshow Two Saudi aviation companies, both backed by the kingdom’s Public Investment Fund, have signed deals to buy 65 Airbus aircraft at the Paris Airshow. Riyadh Air, which is due to start services this year, placed an order for 25 A350-1000 jets, the European planemaker said in a statement. The deal also includes purchase rights for […] June 17, 2025
Real Estate Kuwaiti developer Aqarat to raise capital by 15% A listed Kuwaiti developer is planning to boost its capital by 15 percent to fund expansion. Kuwait Real Estate Company, known as Aqarat, said its board would meet on Wednesday to approve procedures for the increase. The company is working on major projects in Kuwait and the UAE – and both countries’ real estate sectors […] June 18, 2025
Business of Sport Qatar’s BeIN Sports extends Premier League TV deal Qatari broadcaster BeIN Media Group has secured the rights to telecast UK Premier League matches across the Middle East and North Africa region (Mena) until the end of the 2027/28 season. All the 380 games in each season will be telecast live in 24 countries on its flagship BeIN Sports network, the company said in […] June 18, 2025
Trade Iran-Israel conflict cuts off Oman’s strategic town The conflict between Iran and Israel has cut off supply lines for local traders in Oman’s coastal town of Khasab in the strategic Strait of Hormuz. Police watch the Khasab seafront, and their patrol boats are stopping vessels from sailing towards Iran. Located in the Musandam Peninsula in the northern tip of Oman, the town […] June 18, 2025
Oil & Gas Qatar Energy among winners of Algeria oil sites Qatar Energy was among the winners of oil site concessions offered by Algeria within the North African country’s latest licensing round targeting the development of its eroding hydrocarbon resources. Officials in the capital Algiers said five foreign groups were awarded oil sites following strong competition from 41 companies who were in the bidding. The announcement […] June 18, 2025
Oil & Gas Egypt increases gas supply to Jordan as Israeli supplies falter Egypt has reportedly increased its supply of natural gas to Jordan following the disruption of Israeli gas flows. Cairo has been supplying Jordan with 100 million cubic feet of natural gas per day to power its plants, Arabic news portal Ashraq Business reported, citing Egyptian and Jordanian officials. The flow of gas has been increased […] June 18, 2025
Markets Investors hold firm despite stock market declines Gulf stock markets declined on Tuesday as the conflict between Iran and Israel intensified, although investor sentiment appears resilient. Historically, regional geopolitical tensions have sparked sharp sell-offs on Gulf bourses as traders seek to cut their exposure. This time, however, investors seem less easily spooked and daily index declines have been relatively small. “There’s now […] June 17, 2025
Logistics Shipping on a knife-edge as missiles pound Iran and Israel Shipping is continuing to move around the Middle East even as Iran and Israel exchange rocket and drone strikes and despite a collision between two tankers in the Gulf. But operators are expected to charge a premium as their insurance and crew costs increase, according to maritime experts and lawyers. Early on Tuesday, reports emerged […] June 18, 2025
Oil & Gas Oil prices rise 2% as Iran-Israel conflict deepens Oil prices climbed over 2 percent on Tuesday as Iran-Israel tension intensified and US president Donald Trump urged “everyone” to evacuate Tehran, increasing the prospect of deepening unrest in the region and disruption to oil supply. The Brent crude futures contract was up $1.17, or 1.6 percent, at $74.4 a barrel as at 00:05 GMT and US West […] June 17, 2025
Tech Turkey’s Baykar sets defence venture with Italy’s Leonardo Baykar, a Turkish defence supplier, and Italy’s Leonardo, an aerospace and defence company, have agreed to establish a joint venture for the development of “next-generation” unmanned aerial vehicles (UAVs). LBA Systems, the equally owned venture, will have its headquarters in Italy and focus on the design and development, as well as production and maintenance, of UAV […] June 18, 2025
Transport Turkey increases Turkish Straits passage fee by 15% The Turkish government is to raise the transit fee for international vessels passing through the Bosphorus and Dardanelles Straits, also known as Turkish Straits, which connects the Mediterranean to the Black Sea. The fee will be increased by 15 percent to $5.83 per tonne from July 1, Hurriyet Daily News reported quoting transport and infrastructure minister […] June 17, 2025
Trade Turkey and China extend currency swap deal Turkey and China have extended their currency swap agreement to promote trade in local currencies and reduce reliance on the US dollar. The revised deal allows the exchange of a maximum of TL189 billion ($4.8 billion) through local currency swaps, Turkey’s central bank said in a statement. The arrangement, initially signed in 2019 and expanded […] June 16, 2025
Trade Record exports for Turkey’s free trade zones Turkey’s free trade zones are having a bumper year, posting record high export figures so far in 2025, with growth outstripping the broader export sector and eating into the country’s trade deficit. Outbound shipments from Turkey’s free trade zones (FTZs) rose 11 percent in May, with exports of $1.2 billion, a record for the month, […] June 16, 2025
Economy Turkish debt markets have a busy summer ahead Ankara faces a busy summer of funding its borrowing programme, rolling over existing bonds and issuing new securities to bridge a widening budget deficit, as it contends with high interest rates and persistent inflation. On Tuesday, the finance and treasury ministry conducted three lira-denominated auctions of bonds and treasury bills with a combined value of […] June 12, 2025
Oil & Gas Egypt increases gas supply to Jordan as Israeli supplies falter Egypt has reportedly increased its supply of natural gas to Jordan following the disruption of Israeli gas flows. Cairo has been supplying Jordan with 100 million cubic feet of natural gas per day to power its plants, Arabic news portal Ashraq Business reported, citing Egyptian and Jordanian officials. The flow of gas has been increased […] June 18, 2025
Renewable Energy African Development Bank part-funds Egypt’s solar project The African Development Bank Group (AfDB) has approved up to $184.1 million in financing for Egypt’s Obelisk solar power and battery storage project. The project involves the construction and operation of a one gigawatt )GW) solar photovoltaic plant and a 200-megawatt-hour battery energy storage system in south Egypt. The project’s total cost is estimated at […] June 13, 2025
Oil & Gas Egypt signs LNG supply deals with global companies Egypt has reportedly signed contracts to purchase additional liquefied natural gas (LNG) from global energy companies to meet peak summer electricity demand and falling domestic production. The deals were signed with state-owned Saudi Aramco, Singapore’s Trafigura Group and Switzerland’s Vitol Group, Bloomberg news agency reported, citing informed sources. The state-run Egyptian Natural Gas Holding Company has also […] June 13, 2025
Finance Egypt plans to issue first tranche of $504m sukuk Egypt is reportedly planning to issue the first tranche of the EGP25 billion ($504 million) local sovereign sukuk issuance in the third quarter of 2025. The Ijarah sukuk will be issued to test the market and gauge investor appetite, followed by remaining tranches, Ashraq News, an Arabic financial portal, reported quoting three unnamed government officials. […] June 12, 2025
Economy Egypt economy The latest economic and demographic indicators for Egypt, including GDP, inflation, trade, population, unemployment and more June 9, 2025
Trade Dubai shifts into global top tier for events impact Dubai’s large-scale events are having a positive impact on the local economy, buoying a variety of sectors and propelling the emirate into the “global top tier” of cities with the most influential events industries, analysts say. The most recent figures from the Dubai World Trade Centre (DWTC) show that a record number of events staged […] In association with
Analysis Retail Majid Al Futtaim IPO could ease succession strains Taking Majid Al Futtaim Holding public could provide a way to resolve the succession challenges facing the Dubai-based family conglomerate, but also risks fracturing the tight-knit structure that has long defined one of the Gulf’s most prominent family businesses. “The best way to solve family disputes is [to] list all the shares,” says Obediah Ayton, […]
Analysis Real Estate Land prices surge as Dubai’s developers scramble for plots A wave of land acquisitions by Dubai developers has driven up prices by more than a third so far this year. Fierce competition for prime plots and off-plan sales is pushing investors into emerging districts, industry professionals say. The land rush, fuelled by constrained supply in central areas and a growing population, has underpinned the […]
Analysis Manufacturing UAE-US gallium project is an attempt to loosen China’s grip A new UAE-US effort to produce gallium, a chemical element that is critical to making semiconductors, may bring some relief to Western and Asian users choked by China’s stranglehold on the metal. But relevant manufacturing plants need years to come to fruition, and require technology and know-how that for the moment are almost entirely confined […]
Analysis Tech Why founders and fintechs are the X factor for VCs Personalities, teamwork, market size and originality. Technology founders seeking cash or incubation may be better served looking in a mirror rather than analysing code, according to investors. “The founder is always the main driver as to whether we invest,” Lucy Chow, senior advisor at angel investors 2022 Female Angels, tells AGBI. The inverse also holds […]
Media & Advertising Ad spend in Mena among world’s lowest thanks to digital media Early and widespread adoption of digital media means countries across the Middle East and North Africa are spending less on advertising per capita than almost any other region. The UAE, Saudi Arabia and Turkey are among the economies with the lowest ad spending as a percentage of GDP in the world, according to data from […]
Employment Trade tensions may stifle expatriate employment in Saudi Arabia A global economic downturn is likely to result in fewer jobs for expatriates in Saudi Arabia, a local bank has said. Instead, policies aimed at incentivising the hiring of more nationals are increasingly putting Saudis in pole position for jobs, according to Jadwa Investment, an advisory group and investment bank in Riyadh. Last year, expatriate […]
Aviation Sheikh Ahmed: China’s Boeing rejects won’t fly for Emirates Emirates Airline’s chairman Sheikh Ahmed bin Saeed Al Maktoum has downplayed speculation that the carrier could buy Boeing planes originally destined for China. Speaking at the Arabian Travel Market in Dubai on Tuesday, Sheikh Ahmed said Emirates was actively exploring options to expand its fleet, but the Boeing aircraft – ordered by Chinese carriers but […]
People & Lifestyle Art Dubai fair buzz drowns out roiling global markets While Dubai art gallery Lawrie Shabibi was exhibiting at last month’s Art Basel Hong Kong, Donald Trump was ramping up his trade war with China, and the event had slower sales and a distinct feeling of unease. The ambiance could not have been more different at last week’s Art Dubai, the largest art fair in […]
Employment UAE labour market: Too many people, not enough jobs More people are looking for jobs in the UAE than there is work available for them, according to a labour market report from recruitment consultancy Cooper Fitch. Hiring in the second-largest Arab economy grew by less than 1.3 percent in the three months to March 31 compared with the same period last year, the report […]
Analysis Artificial Intelligence AI classes to prepare Saudi pupils for the new world Saudi secondary school pupils will soon have classes on artificial intelligence (AI) added to their curriculum. More than 50,000 17 and 18-year-olds will be offered the Introduction to Artificial Intelligence course, a joint initiative between the ministry of education and the Saudi Data and Artificial Intelligence Authority. It is part of an effort by the […]
Opinion Media & Advertising Dubai chocolate is the golden ticket of city branding Food is part of a place's cultural identity. Plenty of cities and countries have dishes associated with them
LUNCH WITH FRANK KANE Energy Ahmed Al Azkawi: ‘We are the national champion for oil and gas’ The chief executive of OQEP gives our Editor-at-Large a crash course in Omani energy past, present and future
Oil & Gas China to hit peak oil demand in 2027, says IEA China’s crude oil demand will peak in 2027, earlier than previously forecast, as the energy transition gathers pace, the International Energy Agency said on Tuesday. Chinese demand will hit a record 16.95 million barrels per day in 2027 and drop to about 16.66 million barrels per day in 2030, the IEA said in its report […]
Tech Damac data centre unit Edgnex signs $2bn Jakarta deal Edgnex, the data centre subsidiary of Dubai’s Damac Group, plans to develop an artificial intelligence-powered data centre in Jakarta, Indonesia. The data centre will have a projected capacity of 144 megawatts (MW) with a total investment of $2.3 billion, the company said in a statement. Damac completed the land acquisition in March and has started construction. […]
Construction Eagle Hills and Italian partner to restore Venice hotel Abu Dhabi developer Eagle Hills Properties and Italian investment vehicle Coima are to restore the Grand Hôtel des Bains in Venice after buying its legacy debts. The two companies will invest €200 million ($232 million) to refurbish the hotel through the jointly launched Coima Des Bains fund. The luxury hotel opened in about 1900 with […]
Markets Mubadala-backed Brazilian bourse awaits regulatory nod A stock exchange based in Rio de Janeiro is expected to begin operations by the end of April 2026, the executive leading the project said on Monday. The bourse, called Base Exchange and controlled by Abu Dhabi’s Mubadala, could shift Brazil’s financial landscape, as Sao Paulo-based stock exchange B3 currently reigns in the Brazilian market. Operations were […]
