Banking and Finance Middle East banks still keen on green despite pushback Green investments remain a trillion-dollar opportunity for Middle East investors, analysts say, despite global pushback among other banks. About $30 billion was withdrawn from climate-focused mutual funds last year as increased interest rates and scepticism over socially responsible investing or “greenwashing” generated strong headwinds. The situation will be exacerbated by President Donald Trump’s day-one executive […] January 22, 2025
Markets Non-GCC institutions increase holdings of Kuwaiti stocks Non-GCC foreign institutions are net buyers of Kuwaiti equities – but active Western investors remain reluctant to hold its blue-chip stocks because of limited progress in diversifying the country’s economy. Nearly 69 billion shares were traded on Kuwait’s bourse last year, a total only bettered by the Saudi and Abu Dhabi exchanges within the six-nation […] January 21, 2025
Media & Advertising The million-dirham draw of digital billboards Revenues for billboard operators have grown as much as eightfold in the past few years as digitalisation has given out-of-home (OOH) advertising a notable boost. Sometimes seen as a bellwether for the local economy, billboards get plenty of viewing time in places such as Dubai during morning and evening traffic rush hours when cars are […] January 21, 2025
Trade Trump’s bravado fails to spook minerals market – so far Ordinarily, commodity markets tend to react strongly when leaders of major global economies announce plans for war and conquest. If those plans involve disrupting one of the world’s most important sea lanes and reversing centuries of peace with two major allies, you might even expect a certain panic. Yet, when US President-elect Donald Trump declined […] January 21, 2025
Oil & Gas Exit of Libya’s oil chief is a sign change must come, say analysts The embattled chairman of the Libyan National Oil Corporation resigned last week after less than three years in post. Farhat Bengdara’s departure was for health reasons, LNOC said, but industry insiders believe it indicates the time has come for structural change and redistribution of oil revenues in Libya. Bengdara had several disagreements with Abdul Hamid […] January 20, 2025
Real Estate Saudi residential costs to keep rising with demand The cost of buying and renting residential and commercial property in Saudi Arabia is likely to continue to increase throughout 2025 and beyond, analysts say. Supply has not been able to keep up with the growing demand for housing, concentrated in Riyadh where an itinerant young population, increased economic activity in the non-oil sector, and […] January 20, 2025
Trade Trump inauguration: Saudi Arabia comes into focus Saudi Arabia looms large as Donald Trump moves back into the White House for a second term as US president, and there are many opportunities for cooperation along with significant challenges. Since Trump was first elected in 2016, one would be “hard pressed” to name a more changed nation than Saudi Arabia, according to Richard […] January 20, 2025
Sustainability Companies scramble to meet UAE carbon emissions laws UAE companies have less than six months to comply with the country’s new emissions laws, but experts warn that some details are still unclear and a proposed carbon credit trading system may not meet its goals. The UAE introduced two pivotal pieces of environmental legislation last year. Cabinet Resolution No 67 on carbon credits came […] January 20, 2025
Sustainability Climate and cost: the Gulf’s water scarcity challenge Over the past 18 months, Saudi Arabia has set up a Global Water Organisation, established a stand-alone Saudi Water Authority and presided over the One Water Summit in Riyadh. At the summit on December 5, Crown Prince Mohammed bin Salman called for “collective action” to address water scarcity in the region and around the world. […] January 17, 2025
Trade Tariffs and tech on the UAE’s radar as Trump takes office When billionaire developer Hussain Sajwani appeared on stage with Donald Trump earlier this month to announce $20 billion worth of investment in US data centres, he did not hide his glee about the Republican’s return to the White House. The chairman of UAE-based Damac Properties called Trump’s re-election in November “amazing news” and said his […] January 17, 2025
Tech How the UAE can make its push into space pay off Two years ago, the UAE’s Rashid Rover crashed into the moon’s Atlas crater during an attempted landing, marking an abrupt end to the country’s first mission to the moon’s surface. Now, back on Earth, the UAE is once again seeking to stake its claim as part of an elite club of countries with business to […] January 17, 2025
Banking and Finance Problem loans soar at Qatar National Bank’s Turkish unit Qatar National Bank (QNB), the Middle East and Africa’s largest lender by assets, this week reported another solid set of annual earnings. Yet within its financials lurks a potentially worrying statistic: rising loan defaults by consumers and small companies. As the Qatari government’s lender of choice – the state owns half the bank – QNB […] January 16, 2025
Health Saudi Arabia’s biotech push fuels specialised consulting demand Saudi Arabia’s push to become a regional biotechnology hub is fuelling demand for specialised consulting services, as it navigates the challenges of building a life sciences sector from scratch. The kingdom is keen to develop a biotech sector to tackle the high local prevalence of diseases such as diabetes and to exploit commercial opportunities to […] January 16, 2025
Mining Lithium find exposes Algeria’s neglected mining sector The discovery of lithium in Algeria is a major economic opportunity – but underinvestment in the country’s mining industry means it could take a decade or more to bear fruit, experts say. In May 2024, Algeria discovered significant deposits of lithium and other essential climate technology minerals in the southern regions of Tamanrasset and In […] January 16, 2025
Banking and Finance Gulf sets ambitious targets in its quest to go cashless The Middle East has set ambitious targets in its bid to become a cashless society. The UAE is aiming for 75 percent of transactions to be cashless by 2026 and Saudi Arabia has set a target of 70 percent by 2030. Late last year, the process was made simpler by the introduction of Tap to […] January 16, 2025
Artificial Intelligence Tighter US chip rules offer challenges and opportunities Despite fierce industry opposition, the White House on Monday further tightened the government’s grip on exports from the US of advanced semiconductors outside of fewer than 20 partner countries, none of them in the Middle East. However, some industry experts say, it is not all bad news for Gulf states such as the UAE and […] January 14, 2025
Banking and Finance Strong post-IPO performance bodes well for Saudi flotations Recently floated Saudi Arabian companies have thrived since listing on Riyadh’s bourse, thanks in part to astute pricing of initial public offerings and foreign institutional investors’ growing participation. Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London […] January 14, 2025
Aviation Middle East investors turn to airports for safe returns Middle Eastern money is making its way into airports around the world as investment in aviation assets continues to catch the eye. Abu Dhabi Investment Authority (Adia), the UAE’s largest sovereign wealth fund, is the latest headline-grabber as its estimated $4 billion takeover bid as part of a consortium for Malaysia’s Airports Holdings was confirmed […] January 13, 2025
Transport Ineos and Porsche diverge on Middle East’s EV potential Ineos Automotive, the UK carmaker backed by billionaire Sir Jim Ratcliffe, is considering launching its Fusilier electric vehicle in the Middle East after encountering difficulties with governments across Europe. However other industry players such as Porsche remain cautious about the rollout of EVs in the region, with infrastructure remaining a central problem. London-based Ineos spent […] January 12, 2025
Real Estate Gulf property investors return to London Gulf investors are returning to the UK property market after four years, with experts attributing the change to the new Labour government and falling interest rates. Rashid Khan-Gandapur, director of real estate finance at the Bank of London and the Middle East, says the bank has seen a “massive uplift in GCC investment flow since […] January 10, 2025
Entrepreneurs Pace of patent filings shows a leap in GCC innovation Patent applications filed by residents of Saudi Arabia have more than doubled in the past eight years, from 3,213 in 2016 – when Crown Prince Mohammed Bin Salman launched his Vision 2030 programme – to 6,510 in 2023. Saudi filers submitted 86.3 patent applications per million inhabitants last year, up from 39.4 in 2016. However, […] January 10, 2025
Banking and Finance Gulf still struggling to attract private cash for public projects Lower oil prices are driving Gulf countries, particularly Saudi Arabia and the UAE, to involve private companies in financing critical infrastructure projects worth tens of billions of dollars. Despite some successes, the expansion of public-private partnerships (PPPs) is being hampered by inconsistent project delivery and changing regulatory frameworks that are holding back investor confidence, experts […] January 10, 2025
