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A worker at a smelting workshop pours the rare earth metal lanthanum into a mould. Turkey has deposits of lanthanum, cerium and neodymium

Turkey keen to cash in on rare earth potential

Turkey plans to become one of the world’s leading suppliers of rare earths, seeking to parlay its extensive reserves into a position of international strength by investing in extraction and processing while also looking to develop downstream industries. In 2022 Ankara identified a massive mineral deposit in the central Turkish province of Eskişehir containing 10 […]

US treasuries are traditionally seen as a safe haven but market uncertainty has eroded confidence

US treasuries: why it’s buy, buy, buy for the UAE as Saudi sells

Saudi Arabia and the UAE are following divergent investment strategies around US government bonds, which have long been a safe haven for sovereign and institutional investors worldwide. The two countries are among the world’s top 20 biggest holders of the bonds, with a combined value of almost $250 billion. The UAE acquired almost $43 billion […]

Cars navigate the winding roads of the Aseer mountains. Most visitors hail from the GCC but Saudi Arabia hopes to increase the number of international tourists

Riyadh wants the world to visit the ‘Arabian Highlands’ of Aseer

The streets of Abha become festooned with lilacs and mauves throughout May, when the city’s 25,000 jacaranda trees come into bloom. Pockets of purple burst throughout the hilltop capital of the southern province of Aseer, bringing an increasing number of tourists.  Aseer’s botanical diversity has helped it become the fastest growing tourism prospect in Saudi […]

A 'trust gap' exists between consumers and businesses in Egypt because of poor digital experiences

Digital failings cost Egypt’s businesses dearly

From old-fashioned marketing strategies to so-called “ghost companies” with a completely outdated online presence, Egypt’s private sector is failing to move with the digital times, a new report has found. Four in five Egyptian businesses exhibit characteristics of “digital ghosts,” with ill-designed or inactive websites and underutilised social media, Egyptian data and tech services directory […]

Abu Dhabi Investment Council bought a 90% stake in New York’s Chrysler Building (in background) in 2008, and still sees opportunity amid the volatility

Gulf funds weigh risk and reward in Trump’s new trade world order

Gulf sovereign wealth funds, including Abu Dhabi’s Mubadala and Saudi Arabia’s Neom Investment Fund, see both risk and opportunity in the heightened global trade tensions linked to US tariffs. “We know what an economic recession looks like – here we’re dealing with something slightly different,” said Oscar Fahlgren, chief investment officer at Mubadala’s alternative asset […]

Falling oil prices and a growing budget deficit may force Saudi Arabia to prioritise completion of the more time-sensitive Vision 2030 projects such as Riyadh Expo in 2030

Saudi Arabia to ‘roll with the punches’ on oil price

Saudi Arabia may have to tighten its reins on spending on the back of a decline in international oil prices, analysts have said. The country’s first-quarter budget deficit of SAR59 billion ($16 billion), reported this week, was the biggest in three years. “A deficit was broadly expected, says Monica Malik, chief economist at Abu Dhabi Commercial […]

Migrant workers repairing a road in Muscat, Oman. Unemployment among Omanis under 24 was at 14% in 2023, with the majority being women

Oman steps up efforts to curb rising unemployment

The IMF may laud Oman for cutting its debt and bringing its budget deficit under control but unemployment in the Gulf’s third most populous country is growing, posing a policy challenge to the government. In January, the month for which the latest data is available, unemployment rose to 3.6 percent, compared with 3.3 percent the month […]

Passenger numbers have fallen at Kuwait International, but are soaring at airports elsewhere in the Gulf

Kuwait’s aviation industry loses altitude as foreign airlines exit

Kuwait’s ambitions for its aviation industry are faltering as a growing number of international carriers quit the market and airport upgrades are delayed. British Airways ceased its daily service from London in March, ending more than 60 years of operations. This follows withdrawals from Kuwait International Airport (KWI) by at least 14 other airlines since 2019, […]

A doctor examines a sick child. Healthcare spending in Saudi Arabia will rise by nearly 9% a year up to 2029, according to Alpen Capital

Digital health innovators expand in Saudi Arabia

A fast-growing population with high rates of lifestyle diseases is making Saudi Arabia an attractive market for healthcare providers. The median age is steadily increasing while the prevalence of hypertension and diabetes remains high. “All these conditions necessitate medical intervention,” says Tara Rampal, founder of Quest Prehab, a London-based company that provides “prehabilitation” services through […]

US President Donald Trump greets King of Jordan, Abdullah II Ibn Al-Hussein at a visit this February. Jordan are facing significant economic headwinds from potential new tariffs

Jordan caught under Trump tariffs’ sword of Damocles

The Middle East and North Africa is expected largely to avoid the direct impact of President Donald Trump’s new tariffs, with the possible exception of Jordan. The spectre of a 20 percent US tariff taking effect in July is “difficult to ignore,” according to Racha Helwa, a senior economist and director of the empowerME Initiative […]

Workers at a Saudi Aramco onshore rig. Excluding the oil major, Saudi Arabia has about $600bn of domestic assets it could sell

Oil price fall poses spending dilemma for Saudi Arabia

Saudi Arabia has various assets it could sell as the drop in oil prices pushes up the country’s 2025 budget deficit, economists have said. The country could also opt to plug the gap by issuing more debt or altering its spending plans. Saudi Arabia’s debt-to-GDP ratio is only 29 percent, according to S&P Global Ratings, […]

UAE hotel revenue grew by a modest 3 percent to AED45 billion in 2024, suggesting hoteliers are absorbing increasing operational costs

UAE hotels absorb rising costs at expense of profit

Many UAE hoteliers are reluctant to raise prices to compensate for rising operational costs, even as intensifying global competition and geopolitical volatility tighten profit margins. According to data from CBRE Middle East, growth in UAE hotel revenue per available room (RevPAR) has slowed over the last two years, from 6 percent in 2023 to 3 […]

China is exporting ceramic tiles at cheap cost following tariffs imposed by the US

Oman’s tile law could set pattern for the GCC

Oman plans to implement anti-dumping measures on ceramic tile imports from China and India, saying the materials that are widely used in the building industry are being sold at below-cost prices. This comes amid a global debate around the impact of increased US import tariffs on China, the world’s biggest manufacturer, and whether the tax […]

UK prime minister Keir Starmer is greeted by Crown Prince Mohammed bin Salman during a visit to Riyadh in December. The UK government says UK-GCC trade talks are continuing 'at pace'

UK urged to seek standalone trade deals with Gulf states

Trade experts, including a former UK government senior advisor, are questioning why talks between the UK and GCC to secure a free trade agreement are taking so long. Many recommend that London pursue bilateral deals with Gulf countries if and when a wider GCC deal is signed. “[The negotiations] have been going on for yonks […]

President Donald Trump holds an 'Investing in America' event at the White House. The president will visit the Gulf from May 13-16, and artificial intelligence is expected to be at the top of the agenda

AI will be front and centre during Trump’s Gulf trip

Artificial intelligence is expected to be top of the agenda during US president Donald Trump’s visit to Qatar, Saudi Arabia and the United Arab Emirates in mid-May, with officials from all sides eager to announce fresh partnerships. Discussions are likely to focus on securing more GCC investments into US technology and expanding Gulf states’ access […]

A general view of Muscat. Oman will issue OR750 million of bonds and sukuk this year

Local investors show strong interest in Oman bond issue

A lack of alternative investment choices has helped to swell domestic demand for Omani sovereign bonds, with the sultanate’s latest issuance significantly oversubscribed. Oman issued OR100 million of bonds on Thursday, the second of 10 rial-denominated bond and sukuk sales planned for 2025. These will range from OR50 million to OR100 million and will total […]

Keeping the lights on in Kuwait is becoming a problem with a lack of power reserves

Kuwait cuts off crypto mining to save power

Kuwait this week began a clampdown on illegal cryptocurrency mining activity, as the energy-intensive sector places further pressure on the Gulf state’s already severe power shortage problem. The country’s industrial facilities were told earlier this month to suspend operations for six hours daily during the summer, as part of a power rationalisation plan. The ministry […]

Mena's AI research contribution lags global output, but region-wide strategic investment programmes aim to build local expertise

Focus on investment in AI as Mena lags in research

The Gulf and wider Middle East and North Africa region make a woefully small contribution to global artificial intelligence research and academics, but strategic investments could help mitigate some of the risk of dependency on others, industry experts say. The Mena region contributed just 5 percent of all AI-related academic publications and less than 10 […]

A Lebanese bank customer protests outside the Ministry of Economy in Beirut. Depositors have faced cash-withdrawal restrictions since 2019

The start of Lebanon’s economic recovery may be in sight

Lebanon may be weeks away from agreeing a landmark financing deal with the International Monetary Fund that its international partners have made a prerequisite for further support. Domestic political shifts within the country, and heightened efforts by countries to support the new government, have helped facilitate a number of measures on which an IMF deal […]

While lower oil prices may squeeze some Mena producers, Gulf nations are expected to maintain long-term investment plans

Gulf oil investment ‘can weather price slump’

International oil prices may have fallen to their lowest in four years but that is unlikely to disrupt the exploration and production investment plans of Gulf national oil producers, energy analysts have said. But Middle East and North Africa producers outside the GCC may not be so lucky. Crude oil fell below $60 a barrel […]

Mature Male Stock Market Broker Looking At Multiple Computer Screen In Office

Dollar slump impacts foreign Gulf stock investors

The dollar’s descent to multi-year lows against other major currencies presents a dilemma for foreign investors in Gulf stocks. Regional currencies are pegged to the US currency, aside from the Kuwaiti dinar which tracks a basket of currencies that is heavily dollar weighted. So, a lower dollar makes buying Gulf stocks cheaper for investors from […]

A guest takes photos of a Tesla, displayed during the launch of the company's first showroom in Riyadh, Saudi Arabia electric vehicles

Saudi Arabia’s EV ambitions face ‘chicken and egg’ dilemma

Few of the car enthusiasts who attended Tesla’s launch in Riyadh last month arrived in electric vehicles.  Hundreds turned out for the much-heralded opening event in Riyadh, an indication that the furore around the Tesla brand and its owner Elon Musk has not crossed the Atlantic.  Despite this, public enthusiasm for electric vehicles (EVs) in […]