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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

Despite optimism from hedge funds and traders, oil prices remain relatively stable

Analysts optimistic on oil but the price stays steady

Global hedge funds and money managers have become increasingly optimistic about the short term outlook for oil prices in recent months, despite the oil price remaining flat at around $80 a barrel. The net length held by hedge funds and other money managers in WTI (West Texas Intermediate) futures and options has risen to its […]

'Investors might be more comfortable holding Mena sovereign bonds' that are outperforming US Treasuries

Looming ‘vision’ project deadlines spur GCC bond market growth

Gulf countries are racing to complete ambitious “vision” agendas, pushing the total value of GCC bond and sukuk issuances since 2014 to more than $1 trillion. Each GCC country is working towards its own goals – whether that be the Saudi Vision 2030, We the UAE 2031, or Kuwait Vision 2035 – with the aim […]

The proposed sharia standard 62, which aims to transition the industry towards asset-backed sukuk, will not affect 2024 issuance, says S&P

Sharia standard 62 may disrupt sukuk market, says S&P

Global sukuk issuances are likely to suffer next year if the proposed standard 62 sukuk changes to sharia guidelines are implemented, according to credit rating agency S&P. “Adopting Accounting and Auditing Organization for Islamic Financial Institutions standard 62 guidelines as they have been presented could disrupt the market,” it said in a new report. The […]

CCUS Saudi Arabia Dubai

Middle East needs stronger policies to expand carbon capture

A lack of firm policy, regulatory frameworks and funding is limiting carbon capture capacity development in the Middle East and Africa, according to an industry expert. Carbon capture, usage and storage (CCUS) involves separating out the carbon dioxide created in industrial processes, then treating it and using in other processes or storing it.  Globally CCUS […]

GCC UK tax. The Labour government under new prime minister Keir Starmer may merge capital gains tax with income tax Video length: 04:06

GCC investors in UK warned of new tax liabilities

The newly elected Labour government is expected to introduce a range of tax changes that will impact British expatriates living overseas, non-doms and the UK’s community of wealthy foreign investors.  Tax consultants suggest that GCC investors considering selling their UK assets should do it “sooner rather than later” to escape the hikes that could significantly […]

Three Gulf region healthcare sector IPOs in the first half of 2024 were worth a combined $788 million

Healthcare sector props up Gulf IPOs in 2024

The healthcare sector has emerged as a significant contributor of initial public offerings in the Gulf region during the first half of 2024, according to a report by the Kuwait Financial Centre, known as Markaz.  This comes despite an overall decline in new listings. However, Saudi Arabia’s Al-Hokail Academy Specialized Digital Polyclinics Company cancelled its […]

AI's applications in sectors such as coding are gaining attention but regional variations in regulation are making investment difficult

AI regulations double investment costs, says Mashreq Bank

Differing rules surrounding artificial intelligence and the lack of a global regulatory environment is doubling the cost of new investments and complicating business expansion, a leading UAE financial institution has revealed. Amith Rajan, executive vice-president at Mashreq Bank, told AGBI that a “patchwork” AI regulatory landscape has prevented the bank from entering some countries, and […]

Patients from the GCC are travelling to India, Thailand or Egypt for cheaper medical treatment

Affordable healthcare in the GCC: a prescription for profit

The GCC’s affordable healthcare market is ripe for investment, research suggests, as patients are forced to travel to India, Thailand or Egypt to find cheap treatment. Low-income inhabitants make up about 38 percent of the Gulf’s total population, according to Mansoor Ahmed, executive director for healthcare at Colliers Middle East in Dubai. The proportion ranges […]

Animoca subsidiary The Sandbox has partnerships in Saudi Arabia and with Dubai’s Virtual Assets Regulatory Authority

Hong Kong’s Animoca considers Gulf bourses

Animoca Brands, a major Web3 and crypto gaming company valued at nearly $6 billion, is considering a public listing in 2025, with the Gulf and Hong Kong as potential venues. The company’s investors include heavyweights such as Singapore’s Temasek Holdings and the Saudi Arabia government’s Neom project, which injected $50 million into it last year. […]

Keir Starmer, leader of Britain's Labour party, reacts as he speaks at a reception to celebrate his win in the election, at Tate Modern, in London, Britain, July 5, 2024. TPX IMAGES OF THE DAY

GCC investors can make money in Starmer’s Britain

Labour’s historic win on election day has reinforced the bullish case for investing in UK assets.  Sir Keir Starmer promises to bring fiscal discipline to the UK at a time when its $3 trillion economy is just emerging from a technical recession, exports are rising and inflation has fallen sharply from its 11 percent post-pandemic […]

Person, Human, school pupil

Taaleem’s premium schools strengthen bottom line

UAE-based schools operator Taaleem has reported net profit before tax of almost AED278 million ($76 million) for the nine-month period through to the end of May. Profits at the Dubai-listed company, which operates 32 schools across the UAE, increased by close to 39 percent year on year. Revenues over the period were up 15 percent […]

Middle East carriers have hundreds of aircraft on order – and need pilots to fly them

Middle East airlines in race to recruit as pilot shortage bites

A shortage of pilots is threatening the ambitions of the Middle East’s growing aviation industry, analysts have warned, forcing airlines to bolster their recruitment efforts. The global industry will be short nearly 80,000 pilots by 2032, according to management consultancy Oliver Wyman. The Middle East is projected to account for up to 18,000 of that […]

Investors need to know the full picture of a company so 'investor education' is key

Gulf IPOs: what companies must do to go public

Owners of private Gulf companies mulling going public should ensure their businesses have a compelling narrative to tell investors and clear separation between shareholders and management, according to the chief financial officer of Dubai-based retailer Spinneys. In May the supermarket chain became the first company registered in the offshore Dubai International Finance Centre (DIFC) to […]