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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 desalination Video length: 04:57

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 […]

Dubai airport. The city hosts conferences that attract tens of thousands of business travellers, with most scheduled from October to April

Mena business travel surged before tariff storm hit

The number of business travel trips booked in the Mena region increased by more than 50 percent in the first quarter of 2025. However, the onset of a trade war and a projected slowdown in economic growth may temper performance for the foreseeable future, according to travel experts. Business travel company Tamodo said it expected […]

Fatih Birol, Executive director of the International Energy Agency (IEA), attends the plenary session of the Artificial Intelligence (AI) Action Summit at the Grand Palais in Paris, France, February 11, 2025. REUTERS/Benoit Tessier

IEA slashes oil demand outlook as trade tensions bite

The International Energy Agency (IEA) slashed its 2025 oil demand growth forecast on Tuesday, citing rising trade tensions and a weakening global economy. The forecast widens the gap with Opec’s more upbeat outlook. The Paris-based watchdog now expects demand to grow by just 730,000 barrels per day in 2025, down from 1 million bpd previously […]

Gulf stocks Foreign investors were net sellers of more than $400 million of Saudi equities in March

Foreign investors cut Gulf stocks even before Trump-led turmoil

In the build up to the biggest global stock market rout since at least the Covid-19 pandemic this month, foreigners were net sellers of more than $400 million of Saudi Arabian equities in March. This was the first net monthly outflow of the year and the biggest since April last year, as disappointing earnings made […]

Visitors to the Cityscape Global construction fair in Saudi Arabia. Supplier competition could bring down construction costs in the medium term, despite current inflationary pressures

Global trade war prompts Gulf construction reassessment

The global trade tensions triggered by Donald Trump’s tariff hikes is sending shockwaves through the Gulf’s construction sector, leading Saudi Arabia and the UAE to rethink sourcing materials and supply chain networks. The risk of costs accelerating has risen, but over the longer term prices could temper, providing a cost opportunity for the GCC, industry […]

A container vessel operated by China's Cosco in Dubai's Jebel Ali terminal, which handles huge amounts of cargo moving from Asian to Western markets

US-China trade war brings pros and cons for the Gulf

The growing trade war between the US and China, the world’s two largest economies, presents the Gulf Arab states with a complex puzzle. International commerce may shift towards new consumer and trans-shipment markets, while a recession-driven collapse in oil prices and higher-for-longer inflation because of tariffs are further risks to the region. Sectors of the […]

US energy secretary Chris Wright met UAE President Sheikh Mohamed bin Zayed Al Nahyan and Adnoc CEO Sultan Al Jaber in Abu Dhabi

Visiting US energy minister expects more UAE investment

The US administration expects “growing” investment from the UAE in the US energy sector, its energy secretary Chris Wright said during a visit to Abu Dhabi this week. On his first overseas trip since taking office, Wright met senior officials from the UAE – the Middle East’s third-largest oil producer – including Abu Dhabi National […]

Falling oil prices is a sign that the world is heading for recession

Oil prices set to drop for a second week

Oil prices increased slightly on Friday morning but were still set for an overall drop for a second week due to concerns about a prolonged trade war between the United States and China. If the the world’s largest economies continue their tit-for-tat tariff increases, the fear is they will crush crude consumption as their dispute curtails economic […]

2HPYETY Shop window inside the Dubai Gold Souk in the Deira district. One of the most popular shopping destinations and gold markets in the Dubai.

GCC investors bank on gold as US-China tensions escalate

Gulf investors are joining the gold rush as they look for a safe haven amid the biggest swings in global markets since the Covid pandemic and the 2008 financial crisis. “Demand for gold in the region remains elevated despite the high price levels, likely a sign of rushing to safety,” Azza Al Habsi, an economist […]

The GCC states are facing hurdles from US President Trump's 'Liberation Day' trade tariffs

Few good options for US-GCC trade – but options nonetheless

It is often said that US trading partners have few good options when it comes to dealing with President Trump’s “liberation day” last week. Few good options, yes, but the members of the Gulf Cooperation Council at least have options. Oil and gas are excluded from the new tariff regime – if one can call a bookie’s […]

It was all smiles for traders working on the floor at the New York Stock Exchange after the White House announced a 90-day pause on new tariffs

Oil prices retreat despite Trump’s pause on tariffs

Oil prices fell on Thursday, despite early gains late on Wednesday following the announcement by Donald Trump that he would delay implementation of individual new tariffs on 75 countries for 90 days. US West Texas Intermediate (WTI) crude initially rose 4.88 percent to $62.49 a barrel following the announcement but in early trading on Thursday […]

Turkey's trade minister Omer Bolat. Turkey has commenced negotiations with the GCC after previously securing free trade deals with the UAE and Qatar

Gulf countries start free trade talks with Turkey

The Saudi-led Gulf Cooperation Council (GCC) and Turkey have begun talks towards a free trade agreement, the UAE’s state-run Wam news agency reported. Ankara has already signed free trade agreements with the UAE and Qatar, Wam said, citing Turkish trade minister Ömer Bolat. The UAE, Qatar, Kuwait, Oman and Bahrain are all members of the […]

BF5Y47 A factory employee clamping and sodding small parts.

Oil demand growth to halve in wake of Trump tariffs

Global growth in demand for oil this year may be as much as 40 percent less than forecast before last week’s announcement by Donald Trump of a near tripling in effective tariff rates on US imports to their highest in a century, S&P and other oil analysts have said. On average, demand for oil was […]

Gulf nations may find comfort in US energy secretary Chris Wright's oil industry background

Gulf partners will have many questions for US energy secretary

US energy secretary Chris Wright arrives in the Gulf today at an especially turbulent time in the global economy and as oil prices plunge to more than four-year lows. Wright’s two-week visit to Saudi Arabia – the world’s second-largest oil producer – the UAE and Qatar may be in preparation for Donald Trump’s own trip […]