Skip to content Skip to Search
Skip navigation


Kuwait's new emir Sheikh Meshal al-Ahmad al-Sabah swears the constitutional oath

Kuwait forms first government under new emir

Kuwait has formed a government headed by Prime Minister Sheikh Mohammed Sabah al-Salem al-Sabah, the state news agency said, the country’s first cabinet after the death of its previous ruler, Sheikh Nawaf al-Ahmad al-Sabah. Sheikh Mohammed appointed new ministers for oil, finance and foreign affairs in the first cabinet formed under Kuwait’s new Emir Sheikh […]

Khalaf Al Habtoor's group says it has invested close to $1bn in Lebanon

Khalaf Al Habtoor escalates dispute with Lebanon

Emirati businessman Khalaf Al Habtoor has escalated his feud with the Lebanese authorities by launching an investment treaty dispute against the country. The legal notice of the dispute alleges that Beirut’s treatment of his conglomerate, Al Habtoor Group, breaches the investment treaty between the UAE and Lebanon. Under the 1999 agreement, Lebanon committed to protect […]

A security guard at newly constructed housing in Riyadh. Increasing homeownership is a Vision 2030 target

Saudi mortgage lending rises despite GDP slowdown

Saudi banks’ mortgage lending to individuals and businesses rose in the third quarter, up 13 percent on 2022, despite a slowdown caused by lower oil prices and oil output cuts.  A bulletin released this week by the central bank reported loans of SAR591.7 billion ($158 billion) to individuals and SAR155.5 billion to companies in Q3. […]

An Abu Dhabi Police car. Danilo Coppola was arrested in the emirate on December 6

Abu Dhabi arrests man wanted by Italy for financial crimes

Emirati police have arrested an Italian businessman who is wanted in connection with financial crimes in his home country. Danilo Coppola, 56, was stopped on December 6 at a shopping centre in Abu Dhabi. Local sources said the arrest followed an Interpol alert – a sign of the UAE’s growing co-operation with international law enforcement. […]

The UAE bankruptcy law seeks to 'strike a balance between the rights of creditors and the interests of debtors'

UAE sets up bankruptcy court to rule on disputes

The UAE is overhauling its bankruptcy and restructuring law, introducing a specialist court to oversee disputes. The legislation – formally Federal Law Decree No 51 of 2023 – comes into force on May 1, 2024, and replaces the 2016 bankruptcy framework. It will emphasise the importance of amicable resolutions, broadening the scope for debtors to […]

Labourers at Abu Dhabi airport's new terminal, set to open in November. Construction is one of the sectors driving non-oil growth in Q2

Abu Dhabi’s non-oil GDP grows 12% in second quarter

Abu Dhabi’s non-oil economy hit a nine-year high in the second quarter of this year, driven by expansion in the construction, manufacturing and financial sectors. Non-oil GDP in Q2 was up by more than 12 percent on the same quarter of 2022, contributing to a 3.5 percent year-on-year increase in total GDP, according to Statistics […]

Haim Katz is the first Israeli minister to make an official visit to Saudi Arabia

Israeli minister makes historic visit to Saudi Arabia

Israeli tourism minister Haim Katz made the first ever public visit by a member of the Israeli government to Saudi Arabia this week, attending a World Tourism Day event in Riyadh.  The Israeli ministry of tourism said Katz was leading a delegation on a two-day stay in the Saudi capital as part of the United […]

The Abraham Accords signing on September 15, 2022 Video length: 06:36

Abraham Accords – 3 years on, $3 billion in trade

An Israeli politician has described how the Abraham Accords, signed three years ago today, have “opened a floodgate to, hopefully, a new Middle East”. Fleur Hassan-Nahoum, deputy mayor of Jerusalem, tells AGBI in an exclusive video interview that the agreement signed at the White House on September 15 2020, is transforming Israel’s relations with the […]

Set up companies Qatar

Qatar kicks back after post-World Cup slump

There has been a rise in international companies considering a move to Qatar following a post-World Cup slump. Experts believe the spike in interest is partly due to the UAE’s decision to introduce corporate tax as well as an update to Qatar’s Single Window system, which was launched in 2019 to help companies set up […]

Kuwait investment

Al Mukhaizeem to head Kuwait fund’s London office

The Kuwait Investment Authority has appointed Abdulmohsin Al Mukhaizeem as president and chief executive officer of its London branch. A subsidiary of the KIA’s headquarters in Kuwait, the Kuwait Investment Office (KIO) in the UK capital manages part of the Future Generations Fund (the savings portion of the sovereign wealth fund). This includes a portfolio […]

Saudi halal

Saudi’s investment fund gets taste of halal food market

Saudi Arabia’s Public Investment Fund aims to increase the kingdom’s share in the global halal food market, currently worth at least $2 trillion.  Halal Products Development Company, a PIF subsidiary launched in October 2022, signed an agreement with the Saudi Exports Development Authority to support companies targeting the halal market, as well as encourage local […]

Argentina Qatar loan IMF

Argentina agrees $775m loan with Qatar to repay IMF

Argentina agreed a $775 million loan with Qatar on Friday, which will be used to make an immediate International Monetary Fund repayment. The country’s government is grappling with a severe economic crisis with sky-high inflation and falling central bank reserves while facing IMF repayments. Its economy minister Sergio Massa said on Monday Argentina would not […]

Abu Dhabi climate strategy

Abu Dhabi ramps up its climate action strategy

The Abu Dhabi Environment Agency (EAD) has outlined its plans for the emirate’s climate change strategy. The EAD’s five-year plan aims to reduce the UAE capital’s emissions by 22 percent from 2016 levels by strengthening its efforts to achieve greater environmental resilience and climate neutrality, and attracting investment as part of a sustainable economy. EAD […]

Tunisia market

Saudi Arabia to give Tunisia $500m as soft loan and grant

Saudi Arabia has agreed to provide Tunisia with a $500 million package of financial assistance as the country faces a mounting financial crisis. The Gulf state will give the North African country $400 million as a soft loan and $100 million as a grant, the Saudi Press Agency reported on Thursday. The agreement was signed […]

Delegates Cop27

Middle East wealth funds wary of greenwashing

Almost three-quarters of sovereign wealth funds in the Middle East are investing in renewable energy, although most have concerns about potential greenwashing. The latest Invesco Global Sovereign Asset Management Study found that 71 percent of Middle East sovereign wealth funds were investing in renewables. Many funds are doing so as part of a commitment to […]

ADQ Canada

ADQ expands investment reach in Canada

ADQ, the Abu Dhabi sovereign wealth fund, has expanded in Canada with the acquisition of a stake in global asset management firm Sagard, which has $14.5 billion in assets. Sagard’s majority shareholder remains Power Corporation of Canada, an investor in Europe and North America. ADQ is joined as a new minority investor by the Bank […]

UK Gulf investment

UK must court Gulf investors despite Thames Water crisis

The UK’s investment minister has said that the country must continue to incentivise foreign investment in its utilities sector, despite ongoing concerns that Thames Water, which is part owned by Abu Dhabi, could be on the verge of collapse. In an interview with AGBI this week, Lord Dominic Johnson, a minister of state in the […]

Saudi Estonia technology investments

Saudi Arabia makes move on Estonia’s tech industry

Saudi Arabia has signed multiple deals with companies in Estonia as it tries to tap into the European country’s tech industry. Five memoranda of understanding and cooperation agreements across trade, technology and entrepreneurship have been negotiated by Saudi’s Ministry of Investment. A Saudi-Estonian business council is also planned under an agreement between the Federation of […]

ADX up Adnoc IPOS

IPOs boost Abu Dhabi’s bourse despite stock sell-off

The market capitalisation of the Abu Dhabi Securities Exchange rose by $43.7 billion in the first half of 2023. The listings of two Abu Dhabi National Oil Company (Adnoc) subsidiaries more than offset a sustained decline on the bourse’s index and a slump in stock trading. Since late 2021, a flurry of initial public offerings […]

Saudi PIF private sector

PIF wary of crowding out private sector

Saudi Arabia’s Public Investment Fund has put measures in place to ensure it does not starve the private sector of investment opportunities. “It’s of concern to everyone and it’s something we talk about a lot,” Jerry Todd, head of the National Development Division at the $700 billion sovereign wealth fund, said, adding that the PIF […]