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GCC

Business news and financial news, analysis, opinion and statistics covering the six Gulf Corporation Council members Bahrain, Kuwait,  Oman, Qatar, Saudi Arabia and the UAE

Ben Powell, chief investment strategist at BlackRock Investment Institute, says 'mega-forces' will be tailwinds for the GCC Video length: 03:59

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, […]

Chefs prepare food in a Dubai restaurant, where the sector is said to be close to saturation point

Gulf restaurants urged to keep it local

Restaurant operators and investors in the Gulf should open local, authentic outlets rather than imported high-end brands, experts say.  Saudi Arabia, where government-backed initiatives seek to double the number of restaurants, “is definitely a growth market”, according to Duncan Fraser-Smith, CEO of Craft Hospitality Group. But the establishment needs to suit the location. Craft turned […]

GCC real estate: the expat population of Riyadh grew under Vision 2030 projects but the Saudi government is also targeting domestic home ownership

Pricey homes and packed hotels: the year in GCC real estate

The story of the Gulf property market this year was about decreased housing affordability and a growing gap between top-quality properties and second-tier ones. Meanwhile, surging numbers of international visitors in the UAE, Saudi Arabia and Qatar brought thriving hospitality and retail sectors in the main tourist hotspots. Industry observers expect 2025 to bring more […]

Jakarta's skyline blends colonial architecture with modern skyscrapers. Abu Dhabi and Qatar will support Indonesia's 15-million-home, five-year plan

Abu Dhabi & Qatar to help fund Indonesian housing

Abu Dhabi and Qatar have committed to support Indonesia’s plan to build 15 million houses, according to the head of the housing task force Hashim Djojohadikusumo. Djojohadikusumo said the Qatari government will finance the construction of five million houses, while an unnamed philanthropist from Qatar will contribute towards a further one million houses. He added […]

A woman shops in a Dubai supermarket. A majority of shoppers in Saudi Arabia and the UAE are interested in discount prices for groceries

Strong demand for discount retail in Saudi Arabia and UAE

Experts are predicting significant growth in discount retail stores and private label brands in UAE and Saudi Arabia in the coming years.  Cost-conscious consumers in the region are looking for convenience and value in their weekly shop and that extends to buying retailer own-brand products usually cheaper than market leading brands. In a recent survey […]

The Dubai bourse has levelled from its 10-year peak but experts expect it remain steady in 2025

Expect a more subdued Dubai bourse in 2025

Following a stellar 2024, Dubai’s index is likely to join other Gulf bourses in experiencing a more subdued 2025. Dubai’s growing population, record tourism and trade revenues and a near-doubling of residential property prices since January 2021 helped to propel the emirate’s bourse to a 10-year peak last week. The benchmark has since retreated slightly […]

Growing interest in AI applications has strained existing data centre capacity and fuelled demand for energy

Dubai’s Hodler in global AI data centre partnership

Dubai’s Hodler Investments has partnered with US technology company Vertical Data to launch “sustainable” artificial intelligence data centres in the UAE, the Gulf, Africa and Canada. The companies said they are targeting rising demand for high-performance computing. Growing interest in AI applications has strained existing data centre capacity and fuelled intense demand for energy to […]

The Airbus site at Bristol in the UK. The company has been negotiating engine problems with provider Rolls-Royce

Middle East airlines expected to ride out delivery delays

Aircraft delivery delays will continue to dog Middle East airlines in 2025, according to the International Air Travel Association (Iata).  The issue will have little bearing on the bottom line, however, and the industry is expected to continue growing regardless. Globally, Iata forecasts that 1,802 aircraft will be delivered over the next 12 months, down […]

Workers on a construction site near Riyadh. Saudi Arabia is spending according to actual development requirements that are needed within its Vision 2030, said one expert

Why Saudi Arabia expects public debt to rise

Saudi Arabia expects its public debt to steadily rise in the next three years, despite the massive financial reserves controlled by the central bank and the Public Investment Fund (PIF). Estimates by the Saudi Finance Ministry show that public debt will swell by around SAR375 billion ($100 billion) between the end of 2024 and the […]

Mena ecommerce

Mena ecommerce up 44% in November

Ecommerce in the Middle East and North Africa enjoyed a prosperous November with sales 44 percent higher than the year’s monthly average. Online transactions in 2024 were healthy as a whole, with 5 percent growth on the previous 12 months. Unsurprisingly Black Friday, the global marketing ploy that businesses use to offer big discounts, was […]

Adnoc demonstrates a robotic fueling arm. The expected GCC growth will be due to higher oil production, as Opec+ has gradually liberalised production quotas in 2024

GCC economy to grow at 4.5% in 2025 on oil support

The GDP of the six Gulf Cooperation Council (GCC) countries is forecast to grow at a higher pace in 2025 to reach 4.5 percent. While the regional GDP is expected to grow by 3.7 percent in 2024, it will stabilise at 3.5 percent in 2026, the UAE state-run Wam news agency reported, quoting a Statistical […]

A Dubai taxi on Sheikh Zayed Road. Estonian ride-hailing company Bolt will initially offer limousine services in partnership with DTC

Bolt’s UAE arrival rattles the ride-hailing market

The arrival of global ride-hailing platform Bolt in the UAE will shake up a market long dominated by Careem and Uber, the CEO of Dubai Taxi Company (DTC) said. Estonian company Bolt, which operates in more than 600 cities and is present in Saudi Arabia, launched in Dubai this month in partnership with DTC, initially […]

Saudi finance minister Mohammed Al-Jadaan and IMF managing director Kristalina Georgieva at a meeting in Washington, DC in October

More taxes could shield GCC from protectionism, says IMF

GCC countries should consider new taxation options to shore up their public finances and shield their economies from rising global protectionism, according to the International Monetary Fund.   That means regional governments need to continue diversifying away from fossil fuels and boost the role of the private sector, all the while identifying new tax revenues and […]

XRG Sultan Al Jaber

How Adnoc’s XRG will achieve its bold investment ambitions

When XRG, the newly formed investment arm of the Abu Dhabi National Oil Company (Adnoc), launched last month it said that it wanted to double its $80 billion in assets under management by 2035.  For comparison, Abu Dhabi’s ADQ, the world’s 10th largest sovereign wealth fund and the younger sibling of Adia and Mubadala, had […]

The growth in exercise and wellness among women in the UAE presents significant opportunities for fitness-related businesses in the region

Thriving women’s fitness market offers ‘significant potential’

Exercise rates among women in the Middle East are higher than the global average, creating opportunities for companies to tap into this underdeveloped market segment. Participation in intense physical activities among women in the Middle East has grown from 20 percent of the population in 2019 to 31 percent in 2024. That’s a much larger […]