Skip to content Skip to Search
Skip navigation

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

AGBI Gulf net zero

Download our exclusive report on the Gulf’s path to net zero

As the world shifts towards cleaner sources of energy, the GCC’s oil and gas-producing nations find themselves faced with the dual threat of environmental and economic crisis. What are they doing about it?  In this special report published as the UAE prepares to stage the United Nations’ Cop28 climate change summit, AGBI examines the Gulf’s […]

Traders at the Bahrain stock market. New platform Absolute Collateral will enable banks within each country to trade bonds together

Bahraini ‘repo’ platform targets GCC-wide trading

A new platform focused on repurchase agreements has launched in Bahrain with the aim of increasing trading liquidity for bonds across the Gulf.  A repurchase agreement, also known as a “repo”, is a form of short-term borrowing, mainly in government securities. Repo transactions between banks allow them to manage their liquidity. One side with excess […]

A stock investor centre at Arab National Bank in Riyadh. The Saudi exchange accounted for five of the six Mena IPOs in Q3

Mena IPOs drop but analysts still bullish for 2024

Listings on Middle East and North African stock markets slowed during the third quarter, but analysts remain upbeat for 2024 despite concerns over the Israel-Gaza conflict.  There were six initial public offerings (IPOs) in Q3, raising $523 million in total. This is a 14 percent drop in volume and a 66 percent slump in proceeds compared […]

Plenty to smile about: International investors are increasingly putting capital into the Gulf

GCC attracts growing level of global capital

Members of the Gulf Cooperation Council are emerging as prime destinations for capital deployment from across the world, as countries in the GCC look to domestic investment opportunities to fund growth beyond hydrocarbons. Private capital assets under management (AUM) in the countries that make up the GCC hit $12.3 billion in 2022, from $1 billion […]

The Qatar Philharmonic Orchestra during a concert held in the General Assembly Hall at United Nations headquarters

The Gulf has a rich musical heritage – it needs an audience

When the Saudi National Orchestra made its New York debut in September, a centrepiece of the 80-member ensemble was a large green oil barrel.  While serving as a wry reference to the US-Saudi special relationship, it also made a serviceable drum. For an evening, the pounding rhythms of majrour, samri and liwa brought the traditional […]

The souq at Bab al Bahrain in Manama, Bahrain. The country's trade with its GCC neighbours has dropped by 5%

Bahrain economy grows 2% despite GCC trade slump

Bahrain’s economy grew by 2 percent year on year in the second quarter of 2023, despite a drop in trade with neighbouring GCC countries. The kingdom saw its non-oil sector increase by 2 percent, while the oil sector was up 2.2 percent. Bahrain’s fiscal and current account break-even oil prices are among the highest in […]

Turkey's President Erdoğan on a recent visit to the UAE, during which the UAE government commited to investments totalling $51bn over three years

Stronger GCC relations a boon to Turkey’s Islamic banks

Improving relations between Turkey and the GCC could lead to more investment in the country’s Islamic banking system, which the government is keen to expand. The Turkish authorities have set a target for Islamic banks to reach 15 percent of total sector assets by 2025, up from 8.5 percent this year. Top-down support has been […]

A salmon farm in the Isle of Skye

Scotland to forge GCC trade links independently of UK

Scotland will continue to build relations throughout the region even after a long-awaited trade deal between the UK and the GCC is signed, according to a government minister. Neil Gray, Scotland’s cabinet secretary for wellbeing economy, fair work and energy, signed a memorandum of understanding in the UAE last week with Dr Thani bin Ahmed […]

Saudi Masjid al-Haram

GCC tourist permit could pave way for unified visas

Plans to introduce a GCC tourist visa by the end of 2025 could pave the way for other unified visas as the Gulf looks to strengthen its position as an economic bloc. The region could follow the model of Europe’s Schengen Area – a group of 27 countries – where the visa developed beyond tourism […]

Asean GCC trade talks

Riyadh to host first GCC-Asean investment summit

Riyadh will host the first GCC-Asean Economic and Investment Conference next year amid calls for the two regions to negotiate a free trade agreement. The conference, planned for the first half of 2024, was announced in a joint statement following the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (Asean) summit held […]

President Xi Jinping poses with Arab leaders during his trip to the Gulf last December

GCC chief predicts China free trade deal ‘soon’

China and the GCC will sign a free trade agreement “soon”, according to a Gulf official, nearly 20 years after negotiations began. Jasem Mohamed Albudaiwi, the GCC’s secretary general, has predicted the deal will be “wrapped up during the next short period”, adding that its fruits “will be reaped as soon as possible”. His comments […]

Tourists visiting Sheikh Zayed Mosque in Abu Dhabi. The UAE contains 399 of the GCC's 837 official tourist sites

GCC ministers agree to unified tourist visa

A unified GCC tourist visa is to be launched within the next two years as the region targets $188 billion from the industry by the end of the decade. Abdullah bin Touq Al Marri, the UAE’s minister of economy, said the visa, which will allow holders to travel across the six Gulf nations – Bahrain, […]

'We are committed to do whatever it takes to take Turkey out of the grey list' said Turkey's finance minister Mehmet Şimşek

Turkey’s finance minister to embark on second Gulf tour 

Turkey’s finance minister Mehmet Şimşek is to embark on a second tour of Gulf countries as part of his government’s drive to attract foreign investment. “Our meetings with investors will continue next week with visits to Gulf countries,” Daily Sabah newspaper reported, quoting a post by Şimşek on X, formerly Twitter. Şimşek will visit Abu […]

Germany’s green tourism propels GCC tourist rise

Overnight stays from GCC tourists to Germany surged 40.9 percent year on year in the first half of 2023#, driven by the growing appeal for eco-conscious attractions and initiatives, the German National Tourist Board (GNTB) said in a statemen.t The GCC region is now the third-largest Asian source market for inbound tourism to Germany, with overnight stays […]

Oil production in Oman rose very slightly in Q2, but prices and oil-related activity fell

Opec+ unlikely to change policy on Venezuela’s return

An easing of US oil sanctions on Opec member Venezuela is unlikely to require any policy changes by the Opec+ producer group for the time being as a recovery in production is likely to be gradual, Opec+  sources told Reuters. Opec+’s attitude towards the easing of sanctions means the group, which produces over 40 percent […]

GCC secretary general Jasem Mohamed Albudaiwi

GCC trade deal to help ‘level playing field’ for Pakistan

The GCC has signed a preliminary free trade agreement with Pakistan as the South Asian nation looks to boost exports to ease its financial woes. The agreement was signed in Riyadh earlier this month. It aims to increase trade and investment with GCC countries by up to 50 percent by eliminating tariffs on goods and […]