Opinion Economy Kuwait’s political crisis adds to economic uncertainty The country's latest standoff is deeply concerning for both the near and long term May 20, 2024
Industry Chinese carmakers ‘taking Gulf by storm’ Chinese carmakers now claim a sizeable chunk of new car sales in the Gulf and it is likely they will increase their market share further by wooing regional consumers through their vehicles’ innovative designs and perceived value for money. That is the prediction of Amir Khurshid, CEO of Saudi Arabia’s ThinkDirect Automotive Consulting and an […] May 20, 2024
Giga-projects Affluent tourists around the globe on Saudi Arabia’s radar Saudi Arabia will invest more than $800 billion in its main giga-projects by the next decade as part of a tourism expansion strategy focused on affluent tourists in China, India and Europe. The kingdom’s tourism minister Ahmed Al-Khateeb, speaking at the Qatar Investment Forum, said: “We’re building and investing in major destinations like Neom, Red […] May 16, 2024
Video length: 03:53 VIDEO Logistics Shipping needs cheaper green methanol for its route to net zero Higher costs and undersupply remain the biggest concerns for shipping companies seeking to reduce their greenhouse gas emissions by switching to green methanol. Danish logistics company Maersk has ordered 25 vessels that can run on sustainably produced e-methanol. Its first large methanol container ship, Ane Maersk, arrived at Jebel Ali port in Dubai last week. […] May 16, 2024
Analysis Aviation Airport chiefs size up ways to meet GCC airspace demand The annual number of air travellers to and from the Middle East is projected to pass the half-billion mark next year, meaning aviation authorities need to both expand and streamline use of available airspace, senior GCC airport chiefs have told AGBI. Oman is in talks with a neighbouring Gulf state to unlock a new air […] May 16, 2024
Economy Qatar calls for greater GCC cooperation as it diversifies economy Qatar’s sovereign wealth fund will continue a policy of diversification, investing in Central Asia and Africa, but Gulf countries need to do more to unify their economic growth plans to face rising geopolitical risks, Qatar’s prime minister said on Tuesday. “Our focus in terms of the sovereign wealth fund and investment continues following the strategy […] May 14, 2024
Analysis Banking and Finance GCC debt market on way to trillion-dollar milestone The total debt capital market in the GCC is likely to cross $1 trillion this year, after reaching $940 billion in the first quarter of 2024. New research from Fitch Ratings shows that more than a third of GCC debt issued last year was in the form of sukuk, also known as an Islamic bond. […] May 14, 2024
Analysis Trade GCC-EU trade drops by $8bn as talks pause Trade between the GCC and the European Union fell by 4 percent last year to $180 billion, as the two trading blocs struggled to agree terms for a free trade agreement. Figures shared exclusively with AGBI by Eurostat, the EU’s statistics authority, show Saudi Arabia was the bloc’s biggest trade partner from the GCC, with […] May 14, 2024
Opinion Trade The Gulf must harness the potential of new economic blocs Middle Eastern states must leverage their resources and geography as new partnerships develop May 13, 2024
Markets Saudi Arabia dominates Mena Q1 public listings Saudi Arabia dominated public listings in the region in the first quarter of the year and maintains a “healthy pipeline” of IPOs for the remainder of 2024. Nine companies were brought to market in Saudi Arabia during the opening three months, according to the latest report from global consultants EY. The kingdom’s largest, and the […] May 10, 2024
Opinion Banking and Finance Catastrophic floods are a wake-up call for insurers Regional insurance penetration needs to be higher and policies must be overhauled May 10, 2024
Tourism Tourism chiefs call for GCC-wide events calendar Gulf Cooperation Council nations should co-ordinate their event schedules to avoid overlaps and entice tourists to make multiple stops in the region, officials have said at the Arabian Travel Market conference. The six GCC governments – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – are exploring ways to co-operate on tourism, including a […] May 9, 2024
Opinion Trade Food can transform the Gulf’s trade relations with Africa The Gulf's food safety expertise could become a vital part of its trade with African countries May 7, 2024
INTERVIEW Banking and Finance Wealth manager seeks Gulf growth despite setbacks in UK St James’s Place, the UK’s largest wealth manager, plans to target local customers to expand its one-year-old Gulf operation as it seeks to brush off reputational setbacks in its home market. In February SJP disclosed that it had set aside more than $500 million for potential client refunds after an increase in complaints about its […] May 7, 2024
Logistics Red Sea disruption to hit capacity by 20% says Maersk Danish shipping major Maersk expects Red Sea disruption to lead to a 15 to 20 percent industry-wide capacity loss on the Asia to North Europe and Mediterranean routes in the second quarter of 2024. The complexity of the situation in the Red Sea has intensified over the last few months, the company said in an […] May 7, 2024
Analysis Oil & Gas Lack of discoveries pushes up oil and gas exploration costs Oil and gas exploration costs doubled last year as global discoveries fell to a record low. The total volume of discovered gas and liquids dropped by more than 50 percent last year to around 5 billion barrels of oil equivalent (boe), according to the 2024 annual report by the Gas Exporting Countries Forum (GECF). The […] May 7, 2024
Opinion Sustainability The Gulf superstorm is a climate change omen As GCC nations diversify their economies, it is critical that new policies are green by design May 6, 2024
Analysis Tourism Why ‘over-tourism’ offers an opportunity for the GCC The GCC region and its North African neighbour Egypt can reap the rewards of over-tourism across the globe, according to industry experts, with affordability playing a key role in fuelling the sector’s growth. The number of hotel rooms in the six countries of the GCC – Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE […] May 6, 2024
Analysis Employment UAE leads GCC on board gender mix but region still lags More than 10 percent of board seats at listed companies in the UAE are filled by women, well ahead of its Gulf neighbours, but still lagging the global average. At the 168 companies listed on the Abu Dhabi Securities Exchange and Dubai Financial Market, just 133 out of 1,231 board seats, or 10.8 percent, are […] May 3, 2024
Opinion Economy Is it back to the 1970s as global macro storm clouds loom? Even the rises in US Treasury bond yields and dollar have not derailed the bull market in gold May 2, 2024
