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Middle East

A UAE desalination plant in Rafah, Egypt. Both countries are investing in projects and startups to tackle water scarcity

Funding model for water tech ‘holds back Gulf innovators’

An over-reliance on government funding for water startups in the Gulf may be holding back innovation, experts have told AGBI. The Middle East – a region that includes some of the world’s most water-stressed countries – gained its first water “unicorn” in February when Saudi-based GI Water as a Service raised eight figures in a […]

Traders work on the floor at the New York Stock Exchange. Markets have rebounded in early trading in the US and at close in the Middle East

Middle East stocks close up as markets recalibrate

Middle Eastern stocks closed trading higher on Tuesday following days of turmoil. Saudi Arabian stocks were up for the second day in a row on Tuesday, making a 1 percent gain. On Sunday the Saudi index dropped 6.8 percent, its largest one-day fall since the Covid-19 pandemic. Kuwait’s stock exchange registered a 3.08 percent gain […]

Jet fuel costs are a substantial outlay for airlines but falling oil prices may bring them down

Fuel price down but airlines fear fewer passengers

While the lowest oil prices in four years may translate into lower jet fuel costs for airlines, slower economic growth in Europe and Asia could dampen international travel demand for Gulf carriers, analysts say. At Dubai’s Emirates, for example, jet fuel represented the company’s largest single cost in its fiscal year to March 31, 2024 […]

A worker at Jordan's Aqaba container terminal. Jordan has had a free-trade agreement with the US since 2001 and pegs its currency to the US dollar

US levies render Middle East trade deals worthless, say analysts

US president Donald Trump’s global tariff policy has bulldozed through dozens of free-trade agreements, including a handful in the Middle East. The impact on the rules of international commerce could be severe, according to industry watchers. “To take such an abrupt and quick decision from one side, where you have more than 20 years of […]

Boat, Transportation, Vehicle

Oil prices rise 1% after heavy US tariff-driven selloff

Oil prices rose more than 1 percent on Tuesday, rebounding after a hefty selloff in recent sessions led by concerns that US tariffs might depress demand and lead to a global recession. Brent futures were up 81 cents, or 1.26 percent, at $65.02 per barrel, while US West Texas Intermediate crude futures rose 92 cents, or […]

Stock market volatility following President Trump's widespread tariffs is likely to delay the launch of IPOs in the Gulf

Global stock market dive likely to delay Gulf IPOs

Steep declines in stock markets since President Donald Trump set out sweeping tariffs will almost certainly delay initial public offerings in the Gulf, analysts have told AGBI. Markets around the world have tumbled since the US president announced his plans for import taxes last Wednesday. Saudi Arabia’s Tadawul All-Share Index had its biggest one-day fall […]

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 4, 2025. REUTERS/Brendan McDermid

Oil price drop leads Gulf’s government bonds to fall

Dollar-denominated sovereign bonds of Middle East and North African countries slid on Monday as President Donald Trump took effective US tariff rates to their highest in more than a century, causing steep declines in global stock markets and a flight to safety in US government debt. Saudi Arabia’s stock index tumbled to a 17-month low […]

Scoreboard, Text, Number

Goldman Sachs raises odds of US recession risk to 45%

Goldman Sachs has raised the odds of a US recession to 45 percent in the next 12 months. It joins other investment banks in revising their forecast as fears of a trade war grip markets after sweeping tariffs from US President Donald Trump. Goldman raised the probably of a recession in the next 12 months from a previous estimate of 35 percent.  The decision followed a sharp […]

Imports of oil, gas and refined products were exempted from Donald Trump's tariffs but the policies could stoke inflation

Oil prices continue to fall as recession fears deepen

Oil prices slid more than 3 percent on Monday, deepening last week’s losses, as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for crude. Brent futures declined $2.28, or 3.5 percent, to $63.30 a barrel at 00:49 GMT, while US West Texas Intermediate (WTI) crude […]

China announced that it would impose a 34% tariff on US imports from April 10

Oil prices plummet as trade war raises fears of recession

Oil prices continued to drop on Monday as fears of a global trade war intensified and major producers issued bearish signals. Saudi Arabia cut its crude prices to Asia and Opec+ advanced plans to increase output. Brent crude futures fell $2.28, or 3.5 percent, to $63.30 a barrel on Monday. US West Texas Intermediate (WTI) […]

Arabic AI two women at a computer screen

Arabic AI developers struggle with unique challenges

As billions of dollars are thrown at developing Arabic versions of AI for businesses, the technology is improving, but it is an uphill struggle, experts have told AGBI. Spending on artificial intelligence in the Middle East, Turkey and Africa is expected to reach $5 billion this year and rise 35 percent a year to almost […]

Energy security is the US watchword – bad news for oil exporters

What to make of The New Joule Order by Jeff Currie and James Gutman at Carlyle, the US private equity behemoth, as they consider the future of energy demand? Where does their thinking leave us here in the Arabian Gulf? Currie, a former head of global commodities research at Goldman Sachs, and Gutman point out that global […]

Opec cited 'continuing healthy market fundamentals and the positive market outlook' for an oil output increase

Oil hit as Opec+ agrees to increase production

Eight Opec+ countries unexpectedly agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day (bpd) in May. The decision prompted oil prices to extend earlier sharp losses. Oil, which was already down over 4 percent on US president Donald Trump’s announcement of tariffs on […]

A trader works at the New York Stock Exchange as President Donald Trump announces US tariffs. One analyst predicted Gulf stock markets will be the first to recover

Gulf stocks slide as investors fret over US tariffs

Dubai’s stock index tumbled on Thursday, poised for its biggest daily decline this year, and other Gulf bourses slid after US president Donald Trump announced wide-ranging tariffs on importers. Losers outnumbered gainers 34 to 10 on Dubai’s benchmark, which was down as much as 2 percent in early trade, mirroring declines on Asian bourses as […]

Gold, traditionally seen as a hedge against political and financial uncertainty, has surged over 19 percent so far this year

Safe-haven gold hits record peak after Trump’s tariffs

Gold hit a record high on Thursday as nervous investors rushed towards safe-haven assets following US president Donald Trump‘s more aggressive-than-anticipated tariffs against major trading partners. Spot gold was up 0.4 percent at $3,145.93 an ounce, as of 00:18 GMT, after hitting an all-time high of $3,167.57 earlier in the session. US gold futures firmed 0.1 percent […]

President Donald Trump announced a raft of trade tariffs in the Rose Garden at the White House in Washington, DC

Middle East fails to escape Trump’s tariffs

US President Donald Trump unveiled far-reaching new tariffs on Wednesday, including on the United Arab Emirates, Saudi Arabia and other countries in the Middle East. Speaking from the Rose Garden of the White House, the president outlined a minimum 10 percent universal tariff on all imports into the United States, regardless of origin. This will […]

A worker at Iraq's Nahr Bin Umar oil field. Opec+ has cut output by 5.85 million bpd, equal to about 5.7 percent of global supply

Opec+ meeting this week to discuss oil output increase

Opec+ ministers from eight nations that are gradually raising oil output will meet online on Thursday and are likely to approve a further hike in production from May, sources from the producer group told Reuters. Eight members of Opec+, a group that includes the Organization of the Petroleum Exporting Countries and allies led by Russia, […]

Cargo being loaded at Dubai Airport. Middle Eastern carriers experienced the slowest demand growth in February for air cargo in any region

Mid-East passenger demand keeps rising but cargo slows

Middle Eastern carriers have reported a yearly increase in passenger demand in February, albeit slightly down on the previous month because of factors including trade tensions, according to the International Air Transport Association (Iata).  The latest monthly figures from Iata showed a 3 percent year-on-year increase in demand, measured in revenue passenger kilometres, in February, […]

A labourer handles gold bars that are going to be melted at a gold refiner in Istanbul

Gold continues to soar as investors seek refuge

Gold soared to an all-time high of $3,128.06 per ounce on March 31, as investors seek refuge from escalating geopolitical tension, unpredictable trade policies and a shifting monetary landscape.  Gold has rallied more than 18 percent so far this year but analysts say that there is still room to run. A range of factors lies […]