Analysis Trade commissioner: UK and GCC have endless opportunities The Gulf states and the UK have historically enjoyed strong diplomatic and trade ties, but this decades-long alliance has intensified in the last two years. As UK businesses look to drum up new trade in the wake of Brexit and the coronavirus pandemic, the Gulf looks set to become ever closer to Britain. Pre-Brexit, around […] June 20, 2022
Analysis Energy ACWA places faith in hydrogen to power Saudi’s future Saudi Arabia, the world’s top oil exporter, has grand ambitions to become the globe’s number one producer of green hydrogen. The kingdom is aiming to produce around four million tonnes of the gas by 2030 as part of Saudi Crown Prince Mohammed bin Salman’s (MbS) Vision 2030 to diversify the economy. Green hydrogen is set […] June 17, 2022
Analysis Economy UK targets Gulf for growth post-Brexit and Covid Rocked by the double whammy of Brexit and the global pandemic, UK businesses have endured a tumultuous two years. As European trade battles sharp retrenchment – UK-EU exports dropped by 12 percent last year, a loss of £20 billion – British companies are pursuing new growth avenues and the Gulf is proving to be a […] June 16, 2022
Banking and Finance Egypt in ‘race against time’ with privatisation drive Egypt’s economy is facing a perfect storm of economic headwinds. While its currency is plummeting, its budget deficit is rising along with its borrowing costs. In an effort to counter rapidly growing external imbalances, Egypt’s government devalued its currency, the Egyptian pound, by 10 percent in March and subsequently requested a support package from the […] June 15, 2022
Exclusive Tourism Dubai ranked No1 in the world for event hosting Dubai has been ranked as the number one destination globally for meetings in 2021, having been one of the first cities to resume holding in-person business events after the global Covid-19 shutdown. A report published by the International Congress and Convention Association (ICCA) lists the emirate as the place to be both in terms of […] June 13, 2022
Analysis Canada and Dubai grow closer with every deal struck A Canadian pension fund company’s decision to invest $5 billion in UAE multinational logistics company DP World’s assets is a striking example of the deepening commercial ties between the two countries. Caisse de Depot et Placement du Quebec’s (CPDQ) announced the deal on Monday. It will see CPDQ take a 22 percent stake in DP World’s prized assets in […] June 7, 2022
Banking and Finance Rise of the robo-advisers The number of robo-advisers is set to increase dramatically by 2025, according to MENA independent financial advisers and wealth managers June 6, 2022
Banking and Finance Ali Alghanim revs up ahead of IPO in Kuwait Ali Alghanim & Sons will begin trading on Boursa Kuwait on Tuesday, after a private placement by EFG Hermes was oversubscribed 11 times June 6, 2022
Real Estate One in five queries for Dubai homes from Russians Russian speaking investors continue to look to the emirate’s real estate for deals, as the ongoing Russia-Ukraine conflict intensifies Investors from Russia and the 11 other Commonwealth of Independent States (CIS) countries now represent more than 20 percent of potential homebuyers in Dubai. The average ticket size ranges from AED 2.5 million ($680,000) for individuals […] June 2, 2022
Banking and Finance After a slow start, Gulf firms are winning at ESG As the world’s largest producer of hydrocarbons, the Middle East region has been slow to adopt environmental social governance (ESG) practices. But momentum is picking up, according to industry experts. “It’s fair to say that the Middle East is considered somewhat behind the curve on ESG,” said Jessica Robinson, senior advisor for ESG and sustainability […] June 1, 2022
Banking and Finance Bahrain’s GFH commences trading on Abu Dhabi bourse Bahrain investment bank GFH Financial Group commenced trading today on the Abu Dhabi Securities Exchange (ADX) after the listing of its shares on the stock market under the ticker ‘GFH’. It marks the investment bank’s fourth regional listing; its shares are already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market. Today’s listing is set to further expand GFH’s […] June 1, 2022
Analysis Development UAE, Egypt and Jordan industrial pact will ‘unleash billions’ The partnership hopes to strengthen each country’s economic clout and competitive standing, both in the region and further afield The UAE, Egypt and Jordan’s decision to enter into an economic partnership stands out from recent announcements of bilateral deals struck between Arab countries and Western partners. The regional partnership, announced in Abu Dhabi on Sunday, […] May 31, 2022
Analysis Tourism UK will see a resurgence in Gulf travellers this summer The UK has historically been a favoured tourism spot for Gulf Arabs but the global pandemic brought international travel to a grinding halt. As the world reopens its shutters, however, GCC tourists’ appetite for Britain is experiencing a strong renaissance, according to industry experts. On March 18 all remaining Covid-19 international travel restrictions were lifted for passengers arriving […] May 27, 2022
Banking and Finance Tough year lies ahead for MENA, warns IMF The MENA region faces “uncertain” economic prospects this year, according to the International Monetary Fund (IMF). “2022 is a very important year for the MENA region,” said Jihad Azour, director, Middle East and Central Asia Department at the IMF. “Policies are going to be very important and we are going to see challenges arising from the […] May 27, 2022
Analysis Qatar promise may trigger deluge of Gulf investments in UK More Gulf sovereign wealth funds could make huge investments in the United Kingdom following a £10 billion commitment from Qatar. On Tuesday the UK and Qatar signed a new Strategic Investment Partnership which will see the emir state invest billions over the next five years in key sectors of the UK economy including fintech, zero […] May 26, 2022
Energy Saudi oil giants lead on march to net zero Aramco and Sabic commit to big investments in technology to combat emissions from hydrocarbons Oil industry heavyweights from Saudi Arabia have pledged to pursue a green energy transition against a backdrop of robust energy prices, with Brent currently hovering at around $110 a barrel of oil. Officials from Saudi Aramco and Saudi Basic Industries Corporation, […] May 25, 2022
Qatar pledges £10bn investment in key UK sectors The UK and Qatar have signed a new Strategic Investment Partnership which will see Qatar invest up to £10 billion over the next five years in key sectors of the UK economy including fintech, zero emissions vehicles, life sciences and cyber security. Boris Johnson, the UK prime minister, welcomed the emir of Qatar, Sheikh Tamim […] May 25, 2022
Energy New oil discovery puts Abu Dhabi on course for 2030 target A new crude oil discovery by Abu Dhabi National Oil Company (Adnoc) will help the company realise its ambitious target to produce five million barrels per day (bpd) by 2030, according to experts. The state-owned energy giant announced last week it had discovered 650 million barrels of crude at three new onshore sites. The discoveries […] May 23, 2022
Energy ‘We’re serious about net zero’ says Saudi’s PIF chief PIF establishing new hydrogen company Fund plans to develop 70 percent of renewable energy targets Kingdom to phase out almost all liquids Saudi Arabia’s Public Investment Fund (PIF) is committed to achieving its goal of developing 70 percent of the kingdom’s renewable energy by the end of the decade, PIF’s governor confirmed today. Despite it […] May 20, 2022
Real Estate Lure of London homes is hard to resist for Arab buyers International appetite for London’s property market has picked up with Arab buyers expected to play a key role in its post-Covid recovery. The pandemic impacted every sector of the UK economy, with house-buying in England’s capital no exception. As global investment retrenched, the market became increasingly dependent on domestic buyers and resident non-doms for new […] May 20, 2022
Analysis Stars and strife: rebuilding UAE-US relations The passing of UAE President Sheikh Khalifa has prompted an outpouring of condolences and support from around the globe, with heads of state being hurriedly dispatched to Abu Dhabi. Particularly notable among these was the high-profile delegation sent by the US; headed by Vice-President Kamala Harris, it included nearly all of the administration’s top national […] May 19, 2022
Aviation Emirates pins hopes on premium economy The seats will be launched on routes to London, Paris and Sydney in August, making Emirates the first Gulf airline to offer premium economy May 17, 2022
