Markets Market cap of Arab stock markets reached $4.5trn in 2023 The combined market capitalisation of Arab stock markets reached $4.5 trillion, rising 12 percent year on year by the end of December 2023, the Union of Arab Securities Authorities (UASA) has said. The surge was primarily driven by the Saudi stock exchange, which recorded a 14 percent rise to more than $3 trillion in 2023, […] April 1, 2024
Tech Middle East to drive rebound in smartphone market Global smartphone shipments are expected to rebound three percent this year as easing inflation aids a demand recovery in emerging markets and the integration of generative AI attracts buyers to premium devices, a report by Counterpoint Research said on Thursday. Global shipments had declined more than four percent last year, earlier data from the research firm […] March 29, 2024
Trade Angola project demonstrates GCC’s growing Africa interest Dubai Investments has appointed a Chinese construction company as the main contractor on its flagship project in Angola as GCC investments in Africa rise. China Harbour Engineering Company will undertake the first phase of Dubai Investments Park Angola, covering 2,000 hectares of residential, commercial and industrial property in the West African country. The award of […] March 28, 2024
Opinion Tourism Craving for community sets travel trends for Ramadan European Muslims are increasingly keen to travel to Islamic countries to celebrate March 27, 2024
Energy Opec+ unlikely to adjust output before June meeting Opec+ is unlikely to make any oil output policy changes until a full ministerial gathering in June, three Opec+ sources told Reuters ahead of next week’s gathering of ministers that is not expected to make any policy recommendations. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as Opec+, will hold […] March 27, 2024
Analysis Markets Emerging market ETFs look light on Saudi engagement Exchange-traded funds (ETFs) that track the MSCI Emerging Markets Index are underexposed to Saudi Arabia but are more closely aligned to weightings of the other three Gulf countries included in the benchmark, an AGBI analysis shows. The inclusion of four Gulf countries in the MSCI Emerging Markets Index over the past decade has led to […] March 26, 2024
Food & Drink Gulf SWFs named as potential suitors of The Ivy Gulf sovereign wealth funds are among a host of buyers said to be interested in taking charge of the group behind the UK’s prestigious Ivy restaurant. A £1 billion ($1.26 billion) sale is expected to be complete by the end of June. Troia, the company that owns the Ivy and some 50 other restaurants, is […] March 25, 2024
Aviation India’s Akasa Air to fly to Saudi Arabia and Kuwait Akasa Air, India’s newest low-cost airline, plans to start flights to Kuwait and Saudi Arabia by the end of October. “We have traffic rights for Kuwait, Riyadh and Jeddah, all of which we hope to launch by the end of the IATA summer season,” founder and CEO Vinay Dube told the state-run Press Trust of […] March 25, 2024
Leisure & Hospitality GCC visitors to Germany up 15% on eco-tourism push The number of visitors from the Gulf Cooperation Council (GCC) countries who visited Germany rose 15 percent year on year in 2023, attracted to the European nation’s cultural and sustainable tourism offerings. The total number of visitors reached 1.3 million last year, with the fourth quarter hitting a near pre-pandemic activity level with 263,985 overnight stays, […] March 24, 2024
Opinion Media & Advertising ‘Can you change it online?’ Six things a flack should never say to a hack Journalists and PRs are on the same side, kind of – but there are red lines March 22, 2024
Trade Turkey and GCC to create $2.4trn free trade area Turkey and the Gulf Cooperation Council (GCC) will begin negotiations on a free trade agreement (FTA), to create one of the world’s largest free trade areas worth $2.4 trillion. GCC secretary general Jasem Mohamed Albudaiwi and Turkish trade minister Omer Bolat signed a pact to proceed with the talks. The GCC comprises the UAE, Saudi […] March 22, 2024
Health Aster DM says India, GCC business split nears closure Hospital chain Aster DM Healthcare has confirmed that the separation of its GCC and Indian businesses and the proposed investment in the former by a Dubai private equity firm are nearing completion. The company agreed to sell a 65 percent stake in its Gulf business to a state-backed Fajr Capital-led consortium for $1 billion in November […] March 21, 2024
Analysis Trade Weakening dollar should strengthen Gulf exports The US dollar will fall against the euro and Chinese yuan, economists are forecasting, reducing the purchasing power of Gulf currencies but making the bloc’s exports more competitive. A weaker dollar will raise the relative cost of imports from China and much of the European Union, but other factors are more likely to affect inflation […] March 19, 2024
People & Lifestyle UK’s non-dom shake-up to attract high earners to Gulf There is likely to be an influx of expats and returning nationals to the Gulf as a result of the UK’s abolition of non-domicile tax status from April 2025, experts told AGBI. ‘Non-doms’ live in the UK but claim to have a permanent residence in another country, so they do not pay tax on overseas […] March 15, 2024
Opinion Media & Advertising Pay attention to consumers’ changing behaviours during Ramadan Marketers are looking at ways to understand and capitalise on the days and weeks following Eid March 11, 2024
Banking and Finance India is top Asian target for Middle East investors India is more than twice as important as China as a target for Middle East investment, an industry report has revealed. Since 2020, private capital deal value from the Middle East into Asia has soared more than sixfold, from $14 billion between 2016 and 2019 to $83 billion since 2020, data from the Global Private […] March 11, 2024
Analysis Employment Alstom breaks mould as Gulf lags on hiring women as CEOs Dalya Al Muthanna is a member of an exclusive club. In January she became Gulf CEO for the transport giant Alstom, the company behind tram systems in Dubai and Qatar. She was previously a senior executive at GE in the UAE, bucking the trend of men dominating senior C-suite jobs in the Gulf. Just 5 […] March 8, 2024
Oil & Gas Aramco and Adnoc to invest in US LNG projects Two of the biggest oil companies in the Gulf region plan to invest in US liquefied natural gas (LNG) projects. Saudi Aramco, the world’s largest oil company based on daily production, is holding discussions to invest in the second phase of Sempra Infrastructure’s Port Arthur LNG project in Texas, Reuters reported, citing informed sources. Aramco […] March 7, 2024
Opinion Oil & Gas Black gold and realpolitik define GCC-China relations China is playing a growing role in energy transition and economic diversification across all Gulf states March 4, 2024
Aviation Aviation spends billions on IT to improve experience The aviation sector invested billions into IT in 2023, as companies sought to improve passenger experience, according to a new industry report. Global airports increased their IT spending by 23 percent year on year to almost $11 billion last year, while airlines upped spending by 15 percent to $34 billion, according to the 2023 Air […] March 4, 2024
