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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

Parliament Street in Dublin. The Irish capital is now the world’s largest listing venue for hard currency global sukuk

GCC sukuk’s best-kept secret: Dublin

For many people, the city of Guinness and James Joyce may not be the first place that comes to mind when thinking about Islamic bonds. Yet, according to a report last month from Fitch Ratings, the Dublin stock exchange – Euronext Dublin – is now the world’s largest listing venue for hard currency global sukuk. […]

Cargo is loaded onto an aeroplane. The Middle East-Europe route accounts for 5% of global traffic

Middle East-Europe is ‘fastest-growing route for air cargo’

The Middle East-Europe route for air cargo was the fastest growing in the world in October, according to International Air Transport Association figures.  Annual growth in cargo tonne-kilometres stood at 15.3 percent in October, IATA said. The global average is 9.8 percent and the Middle East average is 4.5 percent. The Middle East-Europe route has […]

PMI november Saudi man in textile factory

Non-oil activity in Saudi Arabia at 16-month high

Activity in Saudi Arabia’s non-oil economy has hit a 16-month high, as the country’s diversification efforts continue to show results. The S&P Saudi Arabia Purchasing Managers’ Index – a composite measure of non-oil private sector performance – rose from 56.9 in October to 59 in November, the fourth successive month in which the headline index […]

Arada's Masaar development features a 6.6km cycling track through woodland

Reforms pay off as Sharjah property market surges ahead

Successive reforms in Sharjah’s property market and sky-high rental prices in neighbouring Dubai are contributing to a surge in the price and popularity of the emirate’s rental properties. According to a report by property management firm Asteco, rental prices for the third quarter of 2024 in Sharjah increased 16 percent year on year for typical […]

Shoppers look at Apple electronics in a Dubai store. Its phone and laptop sales are down in the Gulf

Apple, HP and Dell lose market share in Gulf

Apple, HP and Dell are losing market share in the Gulf, analysts have told AGBI, but their weakening position appears to be due to the allure of their rivals rather than a boycott of American brands. The region’s relatively wealthy, young and tech-savvy consumers are an attractive target for makers of smartphones, tablets and computers. […]

A view of the Dubai Mall. GDP growth of the UAE is projected to accelerate to 4.1% in 2025 and 2026, supported by the recovery in oil production

GCC growth to surge to 4.2% in 2025-26 says World Bank

Economic growth in the GCC region is forecast to accelerate to 4.2 percent in 2025-26, but will remain subdued at 1.6 percent in 2024, as the Omani and Kuwaiti economies contract, the World Bank has said. Growth is being driven by the non-oil sector, which has shown robust growth of 3.7 percent thanks to the […]

An entrepreneur's pitch on Unicorn Hunters. The production team is in 'advanced talks' with Saudi and Qatari-owned media

Gulf startups get ready for their close-up on reality TV

First it was Shark Tank, now it’s Unicorn Hunters. Reality TV has become the latest pathway for Gulf startups to access venture capital.  The second season of Shark Tank Dubai is airing now in the UAE – an Arabic version of the Dragons’ Den/Shark Tank format in which entrepreneurs make presentations to a panel of venture […]

EU GCC FTA, EU Gulf trade

EU and GCC officials aim to resume FTA negotiations

European and Gulf officials are holding “informal” efforts to “revive” and even “upgrade” negotiations over a free trade agreement between the two blocks. Efforts towards such an agreement are three and a half decades in the making, Luigi Di Maio, the EU’s special envoy to the Gulf has said. “I have to say it’s a […]

Workers on an oil rig in New Mexico, US. The incoming Trump administration is giving Opec+ plenty to think about

Opec+ likely to adopt a wait-and-see strategy for 2025

Opec+ leaders have much to consider ahead of their meeting next week – little of it positive for flagging oil prices.  First, there is the prospect of a second presidential term for Donald Trump as leader of the world’s largest oil producer and exporter; second, an economic downturn in China that shows no sign of […]

Workers at an Adani solar plant. IHC says it is confident in the company's contributions to renewable energy

IHC stands by Adani investments despite US indictment

Abu Dhabi’s International Holding Company (IHC) is standing firm on its outlook for investments in the Adani Group despite an indictment against its billionaire owner Gautam Adani and seven others in the US. The conglomerate, led by its chair and the UAE’s national security adviser Sheikh Tahnoon bin Zayed Al Nahyan, has been one of […]

More than 50 Saudi Arabian companies are said t be waiting to list on the kingdom’s bourse in 2025

Saudi hospital operator Almoosa announces IPO

Almoosa Health Company has announced plans to launch an initial public offering of 30 percent of its shares on the Saudi stock market. The price range for the offering will be announced on December 4, with the institutional book-building process starting the same day. This will be followed by a retail subscription period from December […]

The striking Riyadh Metro station in Kiing Abdullah Financial District - will it draw Saudis from their cars?

Riyadh Metro could get Saudis to quit their cars

OK. So it did not go entirely as advertised. The first phase of the Riyadh Metro was due to open on Wednesday; instead the system has been inaugurated and operation of three of the six lines – Blue, Yellow and Violet – officially starts on December 1. When the trains do roll, the metro will enable […]

UAE food exports farmland

Food exports from UAE climb 20% in six months

Food and beverage exports from the UAE rose by almost 20 percent during the first half of 2024, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) has revealed.  The organisation predicted that food exports would “surge” to $38.3 billion (AED141 billion) this year.  The ADCCI gave no figure for last year, but according to the […]

Unlisted developers, whether government or privately owned, build about 70% of residential properties in Saudi Arabia

Why Saudi real estate stocks are less popular than you might think

Saudi Arabia has rising property prices, soaring homeownership rates and steady mortgage approvals – so you might think its real estate sector would be in high demand on the stock market. This is the case in Dubai, where Emaar Properties and its subsidiaries serve as a proxy for equity investors to gain exposure to the […]

Workers are seen at the Borouge petrochemical facility at ADNOC's Ruwais Industrial Complex in Ruwais, United Arab Emirates May 14, 2018.

Adnoc’s Abu Dhabi CO2 storage site gets go-ahead

The UAE has certified the feasibility of Abu Dhabi National Oil Corporation’s (Adnoc) West Aquifier CO2 storage site in Ruwais industrial site. The issuance of the Certificate of Feasibility for the West Aquifer project was issued by Det Norske Veritas (DNV), a global accredited registrar and classification organisation. The DNV said it is the first […]

Paul Gilbert of Alvarez & Marsal says that more predictable processes are positive for investors distressed investors debt distressed investment Saudi investors Video length: 03:17

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”.  […]