Analysis Tourism Moroccan tourism startups build momentum ahead of World Cup Startup innovation and entrepreneurship are helping to fuel growth in Morocco’s tourism industry. The sector’s importance to the economy is increasing as the country prepares to co-host the Fifa World Cup in 2030. Morocco welcomed 17.4 million international tourists in 2024, a 20 percent increase on 2023, the latest data from the UN World Tourism […] February 13, 2025
Business of Sport Contractors invited to bid for Qatar racecourse expansion Qatar has started inviting contractors to bid on the expansion of its second-largest horse racecourse. The design and build contract covers the development of the fourth phase of the Al Uqda equestrian complex. This covers expansion of the existing track, a new straight racecourse, an additional grandstand of 5,000 square metres for spectators, a new […] February 11, 2025
Analysis Industry Gulf aluminium supplies to US to continue despite tariffs Short-term supplies of aluminium from the Gulf to the US are set to continue despite new tariffs planned by President Trump, according to experts. The new US president announced tariffs of 25 percent on all supplies of aluminium into the US on Sunday. In 2024 the Gulf made up over 16 percent of US aluminium […] February 11, 2025
Manufacturing What Trump’s steel tariffs mean to the Middle East Donald Trump’s proposed US steel tariffs will put Turkish producers most at risk in the Middle East, while Gulf steel exporters will be sheltered from the worst of the damage, experts have told AGBI. On Sunday Mr Trump, the newly elected US president, said he would soon unveil 25 percent import taxes on all steel […] February 11, 2025
Analysis Health Tech specialists tap into Gulf’s market of the sleep deprived People in the Gulf are among the worst sleepers in the world, research has found – and that makes the region a rousing proposition for sleep-aid businesses such as the US pair Whoop and Eight Sleep. A survey of 2,727 people across the GCC, published last month, found that only half manage to sleep for […] February 9, 2025
Real Estate Shares in Kuwaiti developer Ajial rise despite profit drop Kuwaiti real estate company Ajial Real Estate Entertainment, known for building the Gulf state’s tallest tower, has posted a profit of 774,806 Kuwaiti dinars ($2.5 million) in the fourth quarter of 2024, a year-on-year decline of 5.7 percent. Despite the drop Ajial’s shares were trading up nearly 3 percent on Tuesday at 311 Kuwaiti fulus, […] February 4, 2025
Economy Saudi non-oil conditions hit 10-year high Business activity and sentiment in Saudi Arabia’s non-oil sector has reached its highest level in over a decade. Saudi Arabia’s Purchasing Managers’ Index (PMI) score hit 60.5 in January, up from 58.4 in December – its highest since September 2014. The pace of input price inflation at Saudi non-oil companies in January was the second-fastest […] February 4, 2025
Renewable Energy Acwa Power signs green hydrogen supply deal with Germany Acwa Power, the Saudi power supplier, has signed an agreement with German energy trading company Securing Energy for Europe (Sefe) to supply 200,000 tonnes of green hydrogen a year by 2030. Under the memorandum of understanding signed on Monday, Acwa Power will act as the lead developer, investor and operator of green hydrogen and green […] February 3, 2025
Tourism Growing number of Chinese celebrating new year in UAE The UAE has recorded an increase in the number of Chinese travellers making the journey for new year celebrations this year. Arrivals from China to the UAE have grown 9 percent year on year, a study by the travel insight specialist ForwardKeys has found. While exact details of the dates surveyed or total number of […] January 30, 2025
Banking and Finance Adia-backed bidders close in on Malaysia Airports buy-out A $4.2 billion bid to buy out Malaysia Airports backed by the Abu Dhabi Investment Authority (Adia), the emirate’s biggest sovereign wealth fund, has moved a step closer. Shareholder acceptance of the bid is above 95 percent. The offer is by a consortium called the Gateway Development Alliance (GDA), which is led by Malaysia’s sovereign […] January 29, 2025
Oil & Gas Lunate to buy stake in Adnoc Gas Pipelines Lunate, the alternative investment manager based in Abu Dhabi, is buying a minority stake in Adnoc Gas Pipelines. AGP is a subsidiary of Abu Dhabi National Oil Company (Adnoc) and has lease rights to 38 pipelines covering a total of 982km across the UAE. The gas pipeline network links the UAE’s upstream energy-producing assets and […] January 28, 2025
Analysis 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
Analysis 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
Economy Inflation, not war, is Gulf states’ top concern, says WEF Economic concerns such as inflation dominate risk perception for the coming year in the Gulf and across Mena, according to the World Economic Forum. Its survey of thousands of experts and business leaders, the Global Risks Report 2025, found that geopolitical conflict was the No 1 risk globally, selected by respondents as the “most likely […] January 15, 2025
Oil & Gas Adia to help fund $1bn Malaysian oil and gas firm Abu Dhabi Investment Company (Adia) is to invest in an oil and gas equipment-making unit in Malaysia. Adia is participating in the $1 billion funding round for Yinson Holdings’ equipment-maker alongside Asian investment firm RRJ Capital and British Columbia Investment Management. The funding, expected to close in the first quarter of 2025, will primarily support […] January 15, 2025
Oil & Gas Shell to relocate Madrid gas trading team to Dubai Shell plans to close its Madrid gas trading operations for tax reasons, Spanish newspaper Cinco Dias has reported. Citing unnamed sources, the report said Shell planned to relocate its gas trading staff of 50 people to Dubai, London and Singapore. The staff includes a team handling commercial activities. The Madrid operations were originally part of […] January 15, 2025
Finance Saudi Arabia’s Riyad Capital explores $2.5bn IPO The proposed listing of Riyad Capital, the investment banking arm of Riyad Bank, would value the business at $2.5 billion, Bloomberg has reported. Riyad Capital is working with JP Morgan Chase & Co on the plan to list on the Saudi stock exchange, which is expected in mid-2025. Founded in 2008, Riyad Capital offers a […] January 14, 2025
Business of Sport Qatar Airways signs $97m deal to sponsor new rugby tournament Qatar Airways has agreed a $97 million deal to sponsor the new World Rugby Nations Championship. The eight-year deal will cover the qualifying matches and finals for the first four editions of the rugby union tournament from 2026 to 2034. The agreement is the biggest title sponsorship in international rugby, according to The Guardian. The […] January 13, 2025
Real Estate Qatari investment company to help Indonesia build 1m homes The Qatari investment company Qilaa International Group has signed an agreement with Indonesia’s government to build one million affordable homes. Sheikh Abdulaziz bin Abdulrahman Al Thani, chairman of Qilaa International Group, signed the memorandum of understanding at Indonesia’s presidential palace alongside the country’s housing minister Maruarar Sirait. Qilaa International Group will finance and manage the […] January 9, 2025
Real Estate Kuwait real estate transaction value up 34% in 2024 The value of real estate transactions in Kuwait grew 34 percent year on year in 2024. In total, 4,950 transactions were worth KD3.73 billion, or around $9 billion, in 2024, compared with 4,442 transactions worth KD2.78 billion in 2023. Only the country’s coastal strip saw a decline in transactions, with deals dropping 44 percent. Residential […] January 8, 2025
Employment Syrian public sector workers set for 400% pay rise The Syrian caretaker government plans to hike public sector salaries by 400 percent next month after completing an administrative restructuring, the country’s finance minister said Sunday. Public sector workers currently earn around $25 per month, putting them below the poverty line. The increase, estimated to cost 1.65 trillion Syrian pounds, or about $127 million at […] January 7, 2025
Manufacturing PIF-backed EV maker Lucid beats 2024 delivery estimates Electric vehicle maker Lucid beat expectations for deliveries in the fourth quarter of 2024. The company delivered 3,099 EVs in the fourth quarter of 2024, above the estimated 2,637, according to analysts at Visible Alpha. Production rose to 3,386 vehicles in the reported quarter, surpassing estimates of 2,904 units. In total, the company delivered 10,241 […] January 7, 2025
