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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

Gulf London property Staple Inn

Gulf investors put $100m into London property fund

Gulf investors have given $100 million to a shariah-compliant fund run by the alternative asset manager Rasmala Investment Bank in Dubai to spend on the London residential property market. Adnan Adil, an investment director at the bank, told Citywire that he has seen interest from Gulf investors already well acquainted with real estate in London […]

The Central Bank of the UAE reduced the base rate on its overnight deposit facility by 50 bps from 5.40% to 4.90%

Gulf central banks mirror US Federal Reserve rate cut

Gulf central banks lowered their key interest rates after the US Federal Reserve cut its benchmark rate by 50 basis points (bps) on Wednesday. The Central Bank of the UAE reduced the base rate on its overnight deposit facility by 50 bps from 5.40 to 4.90 percent, effective Thursday. Saudi Arabia mirrored the US move, […]

A shopping mall in Mecca, Saudi Arabia. The Gulf is behind the US and Europe when it comes to rolling out retail technology, says one expert

Saudi retail in tech race to lock in consumer loyalty

Saudi and Gulf retailers are running to catch up when it comes to deploying sophisticated tools being used in other markets to develop consumer loyalty, creating an opening for innovative companies, according to analysts.  “The Middle East is a bit behind the curve,” said Premal Patel, managing director of Catalina UK, a retail consultancy.  “Technology […]

Sultan of Oman Haitham bin Tariq Al Said visited UK prime minister Kier Starmer last month. UK ministers are now in Oman ahead of GCC FTA talks

UK ministers visit Gulf in pursuit of free trade deal

Senior ministers from the UK have arrived in Oman as part of a whirlwind tour of the Gulf designed to accelerate trade talks under the new Labour government. The UK topped the list of countries investing into Oman in 2022, with OR9.6 billion ($25 billion), dwarfing the US in second spot on OR3.7 billion, according […]

US Federal Reserve chairman Jerome Powell. The yield on 10-year treasuries hit a 17-year high of nearly 5 percent in October 2023

US rate cuts will help Gulf bonds but oil worries persist

Imminent US interest rate cuts bode well for Gulf bonds and sukuk, although declining oil prices could lead to higher spreads on regional debt. Bonds are typically priced against 10-year US government treasuries and the difference between their yields is known as the spread. The yield on 10-year treasuries hit a 17-year high of nearly […]

Students in shared accommodation. According to one expert, international investors have put more money into student housing than any other US real estate asset

Investors size up Gulf student housing after US success

Gulf entities have invested billions of dollars in student housing in the United States over the past few years, and are now considering making the same play locally. Accommodation for university students has become a hot asset class amid demographic growth fueled by the millennial generation, which recently passed the baby boomers to become the […]

Rents in the area surrounding Abu Dhabi's Hazza Bin Zayed Stadium are around 20 to 30% higher than in nearby neighbourhoods

GCC stadium projects have multifaceted impact on real estate

Entertainment and sports-focused construction across the Gulf is most likely to push property prices up despite bringing more traffic and noise, according to industry observers. A few of the region’s many projects include the 47,000-spectator Aramco stadium in Saudi Arabia’s Al Khobar, large amusement parks in Qatar and Kuwait, and the region’s inaugural ballpark on […]

Around 3.5 million bottles of Champagne were shipped to the Gulf states in 2023, an increase of about 40 percent

Champagne shipments to the Gulf slow but still flowing

The growth in champagne shipments to the Gulf has slowed in recent years but the market is still one of the strongest in the world, bucking a global trend for declining sales. Around 3.5 million bottles of champagne were shipped to the Gulf states in 2023, an increase of about 40 percent, according to data […]

Investors confer at Abu Dhabi Securities Exchange. The market's all-time high came in November 2022

Outlook for Gulf bourses is upbeat despite oil price jitters

The Gulf’s stuttering stock markets are probably not indicating the start of a downturn, analysts have told AGBI, but are a good opportunity for investors to snap up cheaper shares. Dubai aside, the region’s bourses have been broadly lacklustre this year although heavyweight sectors such as banking and petrochemicals have reported a marked increase in […]

Motorcyclists riding in Jakarta last month to celebrate the 79th anniversary of Indonesia's Independence. GCC investments in the country are worth $25m

Indonesia-GCC trade talks start in Jakarta

The GCC has formally opened negotiations with Indonesia over a free trade agreement. The bloc of six – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – started the trade talks in Jakarta on Monday. Total trade between Indonesia and the GCC in 2022 was $16 billion. The amount of investments from the Gulf […]

An employee inspects construction work at the Fadhili gas plant project; Aramco reported a second-quarter net profit of $28.3 billion – almost half the regional profit total – but Sico excludes the company from its calculations

Gulf’s profits rise thanks to petrochemicals and banks

A turnaround in Saudi Arabia’s long-troubled petrochemicals industry has helped Gulf companies’ second-quarter earnings rise year on year. The region’s banking, telecom and real estate sectors also prospered. GCC listed companies’ earnings totalled $60.7 billion in the three months to June 30, up from $57.4 billion a year earlier, a report by Kuwait’s Kamco Invest […]

Gulf working capital Saudi shopping

Upfront payment drive eases working capital struggle

Companies in the Middle East are negotiating better payment terms before beginning a project to try to prevent working capital issues down the line. Katy Holmes, CEO of the British Chamber of Commerce Dubai, said there had been a “significant shift” towards more favourable terms for suppliers across a wide spectrum of sectors represented by […]

Workers operate a knitting machine at a factory in Hindupur, Andhra Pradesh. Textiles and yarns have export growth potential, according to Indian officials Video length: 07:05

GCC-India trade tumbles as New Delhi snaps up Russian oil

India’s trade with the GCC countries fell 12 percent to $162 billion in 2023-24, according to its Ministry of Commerce and Industry. The drop from $184 billion in 2022-23 comes as energy-hungry New Delhi snaps up discounted Russian crude and slashes imports of Gulf oil. Ajay Srivastava, founder of the Global Trade Research Initiative think […]