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Gavin Gibbon

Senior editor

Gavin is a journalist with over 23 years of experience in the industry, working on daily and weekly titles in the UK before moving to magazines and digital in the UAE in 2013. He specialises in business reporting, covering all countries across the Middle East and North Africa

Gavin Gibbon
Riyadh Metro

Free Metro rides would boost net zero goal, says World Bank

Making the Riyadh Metro free for passengers when it launches this year would be a great way to encourage Gulf residents to be more sustainable, while also helping to achieve ambitious net zero targets, according to a senior World Bank official. Issam Abousleiman, director of GCC countries, the Middle East and North Africa at The […]

Investcorp Tokyo

Investcorp looks East with office opening in Japan

Investcorp has opened an office in Tokyo as it looks to capitalise on Japanese investment opportunities. The Middle East’s biggest alternative asset manager, which managed $50 billion in assets as of December 2022, will provide global alternative investment solutions in Japan. It will also set the groundwork for it to direct private equity and real […]

People, Person, Adult

Bahrain, Egypt, Jordan and UAE sign $2bn of industrial deals

Businesses from the UAE, Egypt, Jordan and Bahrain have signed industrial deals valued at more than $2 billion at a government-backed gathering in Amman. The meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development, held on Sunday, brought together CEOs and the industry ministers of the four countries. Twelve agreements were […]

The cluster project aims to see Saudi Arabia improve its food security

Saudi opening food clusters to boost homegrown supplies

Saudi Arabia is planning to launch a number of food clusters in an effort to boost its homegrown food manufacturing sector. Abdulrahman Alromaizan, investment development director at the Saudi Industrial Property Authority (Modon), told delegates during a panel at the Gulfood event in Dubai this week that the semi-government entity was addressing the need to […]

UAE-Saudi non-oil trade surges 70% to $37bn in last decade

Non-oil trade between the UAE and Saudi Arabia reached AED 136.09 billion ($37.05 billion) in 2022, a year-on-year increase of 9 percent. The two Gulf neighbours have seen their trade relationship grow by 70 percent over the past 10 years to AED 975.5 billion, according to data from the Federal Centre for Competitiveness Statistics. Scott […]

Papa Johns plans to treble its restaurant numbers in the region in seven years

UAE food delivery sector has strong appetite for growth

The UAE’s food delivery market is yet to reach saturation point, according to industry experts, and there is still plenty of room at the table for others to join the party. Statista, the Hamburg research platform, reported that the sector in the UAE is forecast to see annual growth of 6.33 percent overall through to […]

The Board of Directors of the joint venture between Oman Rail, the Sultanate’s national developer and operator of railway networks, and Etihad Rail, the developer and operator of the UAE National Rail Network, held its inaugural meeting

UAE-Oman rail link to bring cross-border economic boost

A $3 billion investment to extend the railway network from the UAE into Oman is expected to bring economic benefits for businesses on both sides of the border. Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, has signed a deal with Abu Dhabi’s Mubadala Investment Company to support the […]

Shopping Mall, Shop, Person

Omanis buy into Gulf shopping mall culture

Middle East mall operator Majid Al Futtaim this month added over 260 international and local outlets to the retail landscape of Oman. The opening of the OR288 million ($749 million) Mall of Oman in Muscat is a sign of the Gulf state’s ongoing switch from standalone units to shopping malls. It is Majid Al Futtaim’s […]

Kuwait records 85.5% jump in trade with Japan

Kuwait’s trade surplus with Japan has increased by 85.5 percent in the past year to JPY110.3 billion ($823 million) in January, according to government data. Overall exports from Kuwait to Japan surged 81.2 percent year on year to JPY126.5 billion for the 22nd consecutive month of expansion.  Imports from Japan also soared 56.4 percent to […]

Ferid Belhaj, World Bank vice president for the Middle East and North Africa

Tunisia debt default could cost country’s banks billions

A sovereign debt default by Tunisia could cost the country’s banking system billions of dollars, experts say. Tunisia is suffering a financial crisis that led to it seeking a $1.9 billion loan from the International Monetary Fund (IMF) in exchange for unpopular reforms, including cutting food and energy subsidies. S&P Global Ratings credit analyst Mohamed […]

Demand for luxury residential property in Dubai remains strong

Dubai prime property price growth second highest globally

The growth in residential real estate prices in Dubai prime property was among the highest in the world in 2022, the latest report from Savills reveals. At 12.4 percent, the UAE city trailed only Miami (25.4 percent) and was markedly above the average 3.2 percent growth seen by the 30 cities tracked in Savills’ Prime […]

Shop, airport

UAE companies join ranking of elite brands

UAE businesses including Adnoc, Dubai Duty Free and RAK Hospital have been recognised by the organisation that ranks elite brands around the world. Superbrands UAE welcomed its latest cohort of 29 brands, which also included Al Rostamani Group, Aster DM Healthcare, Hamriyah Free Zone Authority, Nando’s and Tabasco. The chosen few were selected from thousands […]

Saudi dominates Chinese BRI investment in GCC

Chinese engagement in the GCC through the Belt and Road Initiative (BRI) increased by 244 percent in 2022 to $9.3 billion – and over half of the total amount of funding was secured by Saudi Arabia. The increase came despite overall spending by the BRI falling year-on-year by just over 1.3 percent to $67.78 billion, […]

Sultan Ahmed Al Jaber, UAE minister of state, chairman of Masdar and the Adnoc CEO, speaks at the World Future Energy Summit in Abu Dhabi

Masdar could look East for investment opportunities

Masdar may look to capitalise on investments in the East as it continues to increase its global footprint. Abu Dhabi’s renewable energy giant has committed more than $30 billion in projects in over 40 countries, powering in excess of 14gw of clean energy. It has also indicated plans to grow that by 10gw by the […]

A cement factory in Tunis. Some of the region's biggest producers reported higher revenues but lower profits in 2022

Mega-projects to cushion Mena cement makers from global blows

Cement producers in the Middle East are expected to have an “exceptionally good year” thanks to the region’s pipeline of mega-projects. Emir Adiguzel, director of the World Cement Association, said the global industry faced a difficult period but the Middle East would buck the trend. “According to our members located in the Middle East, the […]

Crypto exchange auBinance has held workshops with Dubai Police and authorities across the GCC to increase learnings around crypto crimedit and investigations departments are tackling crypto transaction crimes

Binance focuses on security as crypto crimes hit $20bn

Cryptocurrency crime reached a record $20.1 billion last year according to blockchain analysis company Chainalysis, but Binance’s security chief says this is still little compared to traditional financial scams. Nils Andersen-Röed, deputy head of financial crime compliance at Binance, argues the sum must be put into context. “There seems to be a misconception about the […]

Hong Kong stock exchange

Hong Kong exchange courts Middle East companies

The Hong Kong stock exchange has renewed its efforts to attract listings by Middle East companies, including Saudi Aramco. Christopher Hui, secretary for financial services and the treasury in Hong Kong, confirmed interest from Middle Eastern companies during a week-long tour of the region by a 30-strong delegation. The tour aims to promote Hong Kong […]

John Lee, the chief executive of Hong Kong, addresses the UAE-Hong Kong business forum in Dubai

Hong Kong eyes free trade deal with the UAE

Hong Kong is planning a free trade agreement with the UAE, but a senior government official from the Asian city conceded there is currently “no time frame” for the completion of talks. Algernon Yau, secretary for commerce and economic development at the government of Hong Kong Special Administrative Region, told AGBI they planned to negotiate […]

Starlinks robots Saudi

Humans and robots to combine in $27m Saudi fulfilment centre

Humans and robots are set to work together at a new SAR100 million ($26.65 million) fulfilment centre in Saudi Arabia. Logistics and supply chain solutions provider Starlinks has opened the 400,000 sq ft hybrid facility at Agility Logistics Parks in the city of Dammam. 11 ways robots are transforming the UAE Apple heads list of […]

Manchester United fans display banners in protest of the Glazer family’s ownership of the club

Qatari investors latest to be linked with Manchester United

Investors from Qatar could be on the verge of a multi-billion dollar bid for English Premier League club Manchester United, according to newspaper reports. Quoting unnamed sources, the UK’s Daily Mail said the investors were “a group of private, high wealth individuals” from Qatar. It is unclear whether that would refer to Qatar Sports Investments […]

UAE

UAE reveals record-breaking non-oil trade figures

The UAE has cemented its position as a global trading hub, experts say, after reporting record-breaking non-oil foreign trade figures for 2022. The top-line figure for the year crossed AED2 trillion ($599 billion) for the first time, reaching AED2.233 trillion. This is a rise of 17 percent on 2021 and an increase of 37.5 percent […]