Aviation Riyadh Air delays launch after Boeing setbacks Riyadh Air has been forced to push back its launch date to the third quarter of 2025 after delays to deliveries from Boeing. The new Saudi airline had been scheduled to begin flying early this year. It is a blow to Saudi Arabia’s tourism ambitions to attract 150 million visits a year. Riyadh Air was founded […] January 17, 2025
Tech KKR signs a $5bn Gulf data centre deal in Dubai KKR, the American investment giant, and the data centre platform Gulf Data Hub (GDH), based in Dubai, have signed a strategic partnership to invest $5 billion in data centres serving the Gulf. A joint press release on Friday said that funds “affiliated with KKR” will also acquire a stake in GDH, although it did not […] January 17, 2025
Markets Bahrain bourse launches incentive scheme to revive trading Bahrain Bourse will introduce various incentives next month to try to boost trading on a market that accounts for less than one-thousandth of daily turnover on Gulf stock exchanges. The scheme, which begins on February 2, aims to improve trading activity and increase the number of institutions investing in Bahraini stocks. Its launch comes amid […] January 8, 2025
Oil & Gas Shell to relocate Madrid gas trading team to Dubai Shell plans to close its Madrid gas trading operations for tax reasons, Spanish newspaper Cinco Dias has reported. Citing unnamed sources, the report said Shell planned to relocate its gas trading staff of 50 people to Dubai, London and Singapore. The staff includes a team handling commercial activities. The Madrid operations were originally part of […] January 15, 2025
Analysis Trade Trump inauguration: Saudi Arabia comes into focus Saudi Arabia looms large as Donald Trump moves back into the White House for a second term as US president, and there are many opportunities for cooperation along with significant challenges. Since Trump was first elected in 2016, one would be “hard pressed” to name a more changed nation than Saudi Arabia, according to Richard […] January 20, 2025
Banking & Finance GFH Financial Group GFH Financial Group is an Islamic investment bank. It has headquarters in Bahrain Financial Harbour, Bahrain. Previously known as Gulf Finance House, GFH was established in 1999 under a licence granted by the Central Bank of Bahrain. The bank operates in accordance with sharia, offering financial services, investment and commercial transactions and real estate services, […] January 7, 2025
Analysis Sustainability Climate and cost: the Gulf’s water scarcity challenge Water stressed regions High water consumption Increasing operational costs Over the past 18 months, Saudi Arabia has set up a Global Water Organisation, established a stand-alone Saudi Water Authority and presided over the One Water Sum... Register now: It’s easy and free This content is available for registered members only. Register for your free account […] January 17, 2025
Analysis Banking & Finance Problem loans soar at Qatar National Bank’s Turkish unit Qatar National Bank (QNB), the Middle East and Africa’s largest lender by assets, this week reported another solid set of annual earnings. Yet within its financials lurks a potentially worrying statistic: rising loan defaults by consumers and small companies. As the Qatari government’s lender of choice – the state owns half the bank – QNB […] January 16, 2025
Opinion Real Estate The UAE is the world’s new capital for entrepreneurs Dubai and Abu Dhabi have become magnets for investors and the world's super-rich January 13, 2025
Opinion Banking & Finance Stable, if lacking excitement: the outlook for Gulf banks GCC banks are well capitalised, have low cost-to-income ratios and have been generating healthy profits January 8, 2025
Opinion Economy GCC well-placed to be this year’s global growth standout The overall financial position of the region, especially the UAE, Saudi Arabia and Qatar, is strong January 13, 2025
Analysis Banking & Finance Strong post-IPO performance bodes well for Saudi flotations Recently floated Saudi Arabian companies have thrived since listing on Riyadh’s bourse, thanks in part to astute pricing of initial public offerings and foreign institutional investors’ growing participation. Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London […] January 14, 2025
Opinion Business of Sport Neymar’s Saudi Arabia stint is an economic lesson for its football goals Beset by injuries, Neymar only played seven games for his Saudi employers January 30, 2025
Economy Oman imposes 15% tax on multinationals Oman will impose a minimum top-up tax (DMTT) of 15 percent on multinational companies from January 1, according to a royal decree published by the Oman News Agency. The tax will apply to multinationals with consolidated annual revenue of OR300 million ($779.2 million), a tax official told the Reuters news agency. Last month the UAE’s […] January 2, 2025
Opinion Tourism Immersive storytelling, posh cuisine and branded flats: 2025’s hospitality trends Adaptability and innovation will be vital to maintaining the sector’s global appeal January 10, 2025
Banking & Finance Bahrain’s GFH buys $136m Dubai-based logistics fund GFH Partners, the DIFC-based asset management arm of Bahrain-based GFH Financial Group, has acquired Manrre REIT, the Dubai-based fund with assets across the UAE and the GCC region. The fund’s portfolio is valued at AED500 million ($136.13 million), including 26 industrial and logistics properties in the Emirates. GFH Partners has assumed the fund manager’s role […] December 31, 2024
Analysis Banking & Finance Gulf still struggling to attract private cash for public projects Lower oil prices are driving Gulf countries, particularly Saudi Arabia and the UAE, to involve private companies in financing critical infrastructure projects worth tens of billions of dollars. Despite some successes, the expansion of public-private partnerships (PPPs) is being hampered by inconsistent project delivery and changing regulatory frameworks that are holding back investor confidence, experts […] January 10, 2025
Analysis Health Healthcare providers from Americas target GCC tie-ups With the rise of chronic diseases and other complex medical needs, co-operation is growing between medical institutions in Gulf states and their counterparts in the US and beyond. Mass General Brigham Hospitals Network and the Dana-Farber Cancer Institute, both based in Boston, Massachusetts, and the Mayo Clinic of Rochester, Minnesota, are among the household names […] January 6, 2025
Food & Drink Foodtech startup Calo plans IPO after $25m funding round Saudi food technology startup Calo is planning to list on the country’s stock exchange following a raise of SAR94 million ($25 million) in its Series B funding round. Based in Riyadh, Calo specialises in personalised meal subscriptions and also has a bricks-and-mortar offering. It is embarking on an accelerated expansion phase, increasing its physical locations […] January 2, 2025
Opinion Banking & Finance The rise of AI and the fall of cash: 5 banking trends for 2025 Customers are becoming more demanding, tech is evolving and neobanks are disrupting the status quo January 6, 2025