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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 […]

The UAE's Khalifa Port. The UAE is Saudi Arabia's leading trade partner, with exports totalling SAR 15.1 billion

Saudi Arabia’s non-oil exports to GCC jump 31%

Saudi Arabia’s non-oil commodity exports with Gulf Cooperation Council (GCC) countries rose 31 percent year on year to SAR24.4 billion ($6.5 billion) during the second quarter of 2024, according to official data. The UAE was the leading trade partner, with exports totalling SAR15.1 billion, making up 62 percent of the kingdom’s non-oil trade with the […]

Despite the tax, Bahrain remains an attractive destination for foreign investment. It drew $6.8bn of FDI in 2023

Bahrain’s corporate tax just the first in GCC, say experts

Bahrain could be the first “domino to fall” in the GCC after announcing a tax targeting large multinational companies, analysts have told AGBI. The domestic minimum top-up tax (DMTT) will impose a 15 percent levy on the Bahraini profits of multinational enterprises whose revenues exceed €750 million ($830 million). It comes into force next January.  […]

Beautyworld Middle East said there had been an 8.4% increase in participation from UAE and GCC brands for this year’s Dubai event

Gaza boycotts fuel sales spike for Gulf beauty brands

Homegrown beauty brands in the Middle East are benefiting from boycotts of international companies as a result of the Israel-Gaza conflict. The cosmetics giant L’Oreal said the boycotts had a two-percentage-point drag on its growth in the first half of the year, as consumers turned their backs on the Paris-based company which also owns the […]

real estate transparency Reem Island Abu Dhabi

Only two bright spots for real estate transparency in Mena

Dubai, Abu Dhabi and Saudi Arabia have climbed higher in a biennial ranking of the most transparent real estate markets in the world, as local authorities push to open up their markets in a bid to appeal to foreign investors. But the UAE and Saudi Arabia are the only bright spots for transparency in the […]

Jameel Ahmad, governor of the State Bank of Pakistan, said talks to secure an additional $2bn in external financing from the IMF are ongoing

Pakistan targets $4bn from Middle East lenders

Pakistan aims to raise up to $4 billion from commercial lenders in the Middle East by fiscal year 2025, the State Bank of Pakistan governor Jameel Ahmad has said. The country’s gross financing needs would be met over the next fiscal year and in the medium term, he told Reuters. Saudi Arabia, the UAE and […]

GCC retail staff shortage Video length: 07:34

Retail staff shortage dents GCC shopper satisfaction

Shoppers across the Gulf Cooperation Council countries are being put off their purchases by a shortage of skilled staff in the region’s retail sector, as prices of products continue to rise. Annual retail sales in the six GCC countries are expected to grow to $300 billion by 2028, a 37 percent increase from 2022. But […]