Giga-projects Saudi jobs growth ‘likely to halve’ as PIF reins in spending Employment growth in Saudi Arabia will halve by 2026 as the kingdom reins in spending and focuses on delivering Vision 2030 projects, recruitment and real estate specialists are saying. Growth in recruitment for jobs in the Saudi economy, after hitting a high of nearly 10 percent in 2022, will slow to 3 percent by 2026, […] March 27, 2025
Analysis Media & Advertising Warner-OSN tipped to inspire more deals for Mena streamers The tie-up between US giant Warner Bros Discovery and Dubai’s OSN Streaming could be a sign of things to come for the Middle East’s entertainment industry, media insiders have told AGBI. Warner Bros said on Monday it would pay $57 million for a one-third stake in the streaming business, a subsidiary of Orbit Showtime Network […] March 27, 2025
Tax Bahrain approves environmental tax on companies Bahrain is to become the first country in the Arabian Gulf to introduce an environmental tax on companies as the island state struggles to rein in a growing budget deficit and bring government finances under control. The government of the region’s smallest nation by population has approved in principle a levy on carbon dioxide emissions […] March 26, 2025
Real Estate Bahrain struggles to fill existing office space as supply grows Bahrain is facing difficulty in filling its available office space even as the kingdom prepares for more supply. Demand for the space is “weak”, with limited interest from existing businesses and new entrants, commercial real estate services and investment provider CBRE said in a report. The Gulf state, the smallest by population in the six-member […] March 25, 2025
Retail Majid Al Futtaim reports 6% profit drop as sales slow Shopping mall owner Majid Al Futtaim has reported a drop in profit for 2024, attributing the decline to lower retail revenue, a higher tax burden and currency devaluation in some of its international markets. Total revenue fell 2 percent to AED33.9 billion ($9.2 billion) and profit dropped 6 percent to AED2.5 billion in 2024, MAF […] March 24, 2025
Aviation Narrow-body aircraft to push growth of Middle East fleets Gulf Arab airlines and other Middle East carriers will expand their fleets at almost double the rate of the global average over the next ten years, industry experts say. They will also increase the share of narrow-body planes over twin-aisle aircraft. Globally, fleet size is expected grow by 2.8 percent per year over the next […] March 23, 2025
Trade Gold exports to UAE surge on Trump tariff war Imports of physical gold from Switzerland to the UAE almost doubled month on month in February as investors turned to so-called safe haven assets against the backdrop of US President Donald Trump’s tariff war and diverging global interest rate policies. According to Swiss customs data 3,465kg of the precious metal was imported to the UAE […] March 21, 2025
Education Dubai Holding is a buyer of UK’s Nord Anglia schools Dubai Holding, the personal investment portfolio of the ruler of the emirate, is among a group of companies that bought the UK school operator Nord Anglia Education for $14.5 billion. Other investors include the Swedish investment group EQT and Neuberger Berman from the US. Nord Anglia operates more than 80 schools in 33 countries, educating […] March 21, 2025
Tourism People in UAE to take longer Eid al-Fitr breaks this year UAE residents are increasing the duration of their holiday break over Eid al-Fitr this year as celebrations ending Muslims’ Ramadan month of fasting coincide with the spring break for schools. The length of a typical Eid holiday this year may increase by half, up from an average eight days to 12, according to data supplied […] March 21, 2025
Finance Fences come down for businesses in Dubai free zones Businesses operating in Dubai’s free trade zones will be able to expand their activities into the emirate’s mainland areas after a government ruling. The new legislation will allow the Dubai Department of Economy and Tourism to issue licences or permits granting expansion into the wider city. Dubai has more than 30 free trade zones covering […] March 18, 2025
Business of Sport PIF considers new stadium for Newcastle United Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […] March 14, 2025
Business of Sport Sports and entertainment park added to Dubai’s free zones Dubai is adding a sports and entertainment business park to its more than 30 free zones. The International Sports and Entertainment Free Zone (ISEZA), which will be housed inside the existing Dubai World Trade Centre free zone, will compete with similar sports technology business parks in Saudi Arabia, Singapore and even Israel. Dubai’s free zones […] March 13, 2025
Manufacturing EGA reveals sharp drop in profits Profits at Emirates Global Aluminium (EGA) have fallen by nearly a quarter as a result of the suspension of operations in Guinea and introduction of corporation tax in the UAE. In October 2023, the Guinea Alumina Corporation, a subsidiary of EGA, was hit by the Guinean government’s decision to halt exports of bauxite, a raw […] March 13, 2025
Real Estate Egyptians show sudden interest in Dubai property Egyptians are leading the way in the Dubai property market in terms of the rate of increase of buyers by nationality. In the first two months of this year, the number of Egyptians buying in the Dubai property market more than doubled – up 150 percent – over the same two-month period in 2024, according […] March 11, 2025
Business of Sport Boost for Arab soccer as Red Bull sponsors Al Ahly Egypt’s most successful football club has kicked off what could become a sponsorship rush from European companies into the country’s top league. Al Ahly of Cairo, winners of 44 Egyptian Premier League titles and 12 Confederation of African Football Champions League titles, has agreed a marketing partnership with the Austrian drinks company Red Bull. No […] March 10, 2025
Aviation Qatar Airways strives to avoid Etihad’s mistakes Like Etihad before it, Qatar Airways is expanding by buying stakes in other airlines. The Abu Dhabi carrier’s acquisition strategy ended badly, however. Three airlines in which it invested went bust and it lost $1.87 billion in one year alone in 2016. Qatar Airways may have better luck, analysts say. The state-owned carrier, which started […] March 10, 2025
Business of Sport Saudi Arabia signs deal with TKO for boxing promotion Saudi Arabia could land a blow to boxing traditionalists after the launch of a new promotion. TKO Group, the US media conglomerate that has World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) under its banner, has entered a multi-year agreement with the Saudi General Entertainment Authority, vowing to implement widespread changes to how boxing […] March 6, 2025
Business of Sport Saudi-backed Newcastle United narrows losses to $14m Saudi Arabia-backed Newcastle United Football Club has reported an £11 million ($14 million) loss for the last financial year, despite a 30 percent increase in revenues. The deficit at the Public Investment Fund majority owned English Premier League club was reduced by £60 million year on year, attributed largely to the money gained from qualifying […] March 6, 2025
Analysis Tax Bahrain considers raising taxes to reduce deficits Bahrain’s plan to end a long string of government budget deficits could prove burdensome to both businesses and people as it considers a raft of tax measures. The country is discussing a 12-point plan for its two-year budget, with measures including the introduction of a wider corporate tax, an increase in value added tax (VAT) […] March 6, 2025
Construction Middle East is top recipient of Chinese Belt and Road deals The Middle East was the top recipient of construction and investment deals under China’s Belt and Road Initiative (BRI) in 2024, with the total value reaching $39 billion. That may not go down well in Washington. Saudi Arabia and construction topped the list, according to a report by Griffith Asia Institute, based in Queensland, Australia. […] March 5, 2025
Finance UAE companies raise prices for a second month Companies in the UAE raised prices for a second consecutive month in February as they passed on higher input costs for materials, maintenance and technology. It was also the biggest price increase since September. Staffing costs also rose, adding to the price rises, according to S&P’s purchasing managers’ index (PMI), a monthly survey of economic […] March 5, 2025
Employment Saudi jobs market buoyant as Egypt and Kuwait struggle Staffing levels in Saudi Arabia surged in February as companies prepare for growth opportunities ahead. But it was a different story in neighbouring Kuwait and Egypt where jobs were lost in the face of a slowdown in new orders, according to the latest business sentiment surveys. Employment numbers in Saudi Arabia increased at the quickest […] March 4, 2025
