Economy IMF urges Egypt to accelerate sale of state assets The International Monetary Fund has urged Egypt to move faster in selling off state assets to spur growth and reduce debt. The country’s economic growth is forecast to increase from 2.4 percent in fiscal year 2024 to 4.3 percent in fiscal year 2026, according to Jihad Azour, director of the IMF’s Middle East and Central […] April 29, 2025
Video length: 04:24 VIDEO Construction First phase of Oman’s Sultan Haitham City on track for 2030 Work on Oman’s $2.6 billion Sultan Haitham City housing project is in full swing. Spread over 14.8 million square metres, Sultan Haitham City will have 20,000 residential units distributed across 19 integrated residential neighbourhoods. The project, initiated a couple of years ago, is being developed in four phases. The first phase, featuring close to 7,000 […] April 28, 2025
Video length: 3:09 VIDEO EXCLUSIVE Economy Egypt’s prosperity rests on private sector, says billionaire Sawiris Egypt’s second-richest man Naguib Sawiris has predicted a long-awaited turnaround in the country’s private sector. Sawiris told AGBI that it had taken the Egyptian government a long time to acknowledge the importance of the private sector, but that it now knows that the country’s economic future rests on it. “The private sector is the most […] April 25, 2025
Video length: 04:57 VIDEO Utilities Water scarcity: The GCC’s desalination challenge The Gulf is one of the most water scarce regions in the world, so it has had to adopt innovative solutions for its water resources. One of the most prominent of these is desalination. While less than 1 percent of the world’s drinking water is desalinated, GCC countries depend on their desalination plants for up to […] April 17, 2025
Video length: 04:10 VIDEO Giga-projects Saudi Arabia must capitalise on curiosity to grow investment Fulfilling the bold ambitions of Vision 2030 will require more foreign direct investment and private sector participation. AGBI spoke to Ali Raza, CIO at Saudi Arabia Holding Company, to find out about the impact of falling FDI. Raza says that although FDI inflows in 2024 have “perhaps not been at the levels we would like […] March 27, 2025
Analysis Finance Gulf investors pile into crypto to hedge against risk Institutional investors in the Gulf are increasingly turning to cryptocurrencies to better manage their risk. Global currency fluctuation and sustained inflation are encouraging investors to add bitcoin and other digital assets to their portfolios, according to a study by Singapore-based QCP, a digital asset trading company. Notable institutional Gulf investments in crypto so far this […] March 25, 2025
Video length: 04:25 VIDEO Real Estate Short-term rentals appeal to Dubai investors The holiday home market is growing rapidly in Dubai, with between 30,000 and 45,000 rental listings now compared to 7,000 in 2017. While they may no longer offer the 10 percent return on investment of a few years ago, rental properties are still an attractive and flexible option for investors, according to Anna Skigin CEO […] March 18, 2025
Video length: 04:55 VIDEO Banking & Finance The $18 trillion challenge for family offices Family offices are set to transfer more than $18 trillion to the next generation by 2030 – and that can present challenges for both the old guard and the bright young things. Those taking over Middle East family offices may be interested in cross-border investment or in newer sectors such as sustainable technology or AI, […] March 5, 2025
Video length: 04:45 VIDEO Education Universities have to change to bridge the skills gap Education in the Mena region must transform to reflect the changing market, according to experts. Ismael Al-Hinti, president of Al Hussein Technical University in Jordan told AGBI that young people entering the jobs market in the region face a skills mismatch, with unemployment rates highest among the most educated. The answer, according to Al-Hinti, is […] February 27, 2025
Video length: 05:03 VIDEO EXCLUSIVE Tech Errol Musk: Tower will be a ‘truly international institute’ Errol Musk told AGBI in an exclusive video interview during his visit to Dubai that the Musk Tower that is to be built in the UAE will serve as an innovation centre. It will also foster developments in science “that are ignored”, including “space-time travel and gravity”, he said. Discussions are ongoing with Abu Dhabi-based […] February 21, 2025
Video length: 05:22 VIDEO Aviation Fares rise to fund airlines’ switch to greener fuels Passengers will bear the brunt as airlines undertake the multi-trillion-dollar transition to greener fuels, aviation experts have said. Sustainable aviation fuel (SAF) allows airlines to reduce their carbon emissions by up to 80 percent without modifying engines – but it is three to five times more expensive than traditional jet fuel. These extra costs “will […] February 19, 2025
Transport Arab airlines criticise EU over cost of green fuel policy Arab airlines have criticised the European Union for its policy on cleaner aviation fuels, which they say could drive their costs up by more than a quarter over the next eight years. The Arab Air Carriers’ Organisation (AACO) says the EU’s aviation sustainability policies involve inconsistencies that unfairly penalise non-European airlines and drive up costs […] February 11, 2025
Video length: 04:42 VIDEO Banking & Finance Why KBW Ventures is focusing its funds closer to home Saudi investor Prince Khaled bin Alwaleed’s KBW Ventures has invested 90 percent of its funds in US companies such as Colossal Biosciences, but now it is keen to invest closer to home, its chief investment officer tells AGBI. CIO Ekta Tolani says KBW Ventures now wants to invest at least 30 percent of its funds […] February 10, 2025
Video length: 04:44 VIDEO Finance EVs and air taxis will shake up Mena insurance industry Motor insurance represents more than 50 percent of premiums in developing insurance markets such as the Middle East, says Vinay Surana, managing director for the region at Allianz Partners. The rapid development and introduction of electric vehicles, self-driving vehicles and air taxis will present new risks and demand new approaches and different ways of thinking, […] February 5, 2025
Video length: 04:13 VIDEO Tech Gulf sovereign wealth funds tilt towards emerging markets In the past 12 months Gulf sovereign wealth funds invested almost $10 billion in China, the largest such volume in history, Diego Lopez, Singapore-based managing director of Global SWF tells AGBI. This reflected a growing bias among Gulf funds towards emerging markets and domestic economies. “Every time [investment managers] are coming across a good opportunity […] January 6, 2025
Video length: 03:59 VIDEO Finance Investors wary of inflation as Trump pursues ‘America first’ policy When Donald Trump returns to the White House his “America First” policy is likely to increase inflation and global economic fragmentation, according to analysts. “We [the Middle East] need to be much more picky about particular geographies, asset classes and even themes that we favour,” said Ben Powell, chief investment strategist at BlackRock’s Investment Institute, […] December 31, 2024
Video length: 04:08 VIDEO Tech Vero Labs taps into the fan-based asset economy Vero Labs, the social networking company owned by the Lebanese billionaire Ayman Hariri, has partnered with the blockchain platform Avalanche to tap into the multi-trillion-dollar fan-based asset economy sector of the sports and entertainment industry. Last year Vero Labs acquired Tokenise Stock Exchange, a regulated global marketplace where users can buy, sell and trade fan-based […] December 24, 2024
Video length: 03:19 Video Transport Drone deliveries all about speed, not profit, says Careem Drone deliveries across the Middle East are expected to grow significantly over the next decade. However, the commercial viability is up for debate, says a Careem executive. Mohamad Charafeddine, Careem’s vice president of product for data and AI, says that drone deliveries have their value in speed, such as for essential medical products. But the […] December 9, 2024
Video length: 03:05 Video Finance Hedge funds and wealth managers ‘are a boon’ for DIFC The DFSA (Dubai Financial Services Authority) the independent regulatory agency that oversees financial services in the Dubai International Financial Centre, approved more than 60 new companies in the first half of 2024. Patrick Meaney, head of enforcement at DFSA, says that many of them are wealth management companies or hedge funds, which is a “boon […] December 4, 2024
Video length: 03:17 VIDEO Banking & Finance Opportunities for ‘distressed investors’ as Saudi companies restructure International and regional distressed investors looking at buying debt in Saudi businesses are becoming more active as new bankruptcy laws and reforms take shape in Saudi Arabia. Paul Gilbert, Middle East managing director at Alvarez & Marsal, said bankruptcy processes were “being very predictable”, which was an “important factor for inward investment into the country”. […] November 27, 2024
Video length: 03:43 VIDEO Tech Funding squeeze stifles AI innovation in Mena Emerging technology and AI startups in the Mena region are struggling to find investors. Industry experts say that the Middle East attracts less than 5 percent of global funding for AI because of the lack of specialised venture capital funds that are willing to take risks. “Our region lags behind the rest of the world […] November 25, 2024
Construction US charges billionaire Gautam Adani in $265m bribery case US prosecutors have indicted Indian billionaire Gautam Adani and seven others, including his nephew Sagar Adani, in connection with an alleged $265 million bribery scheme tied to India’s largest solar power project. Adani has extensive business interests in the Arabian Gulf. The indictment, unsealed in New York on Wednesday, accuses the Adanis and Vneet Jaain, […] November 21, 2024