Analysis Banking and Finance Retail and corporate lending help UAE banks to prosper Consumer demand for mortgages, credit cards and personal loans as well as increased corporate and government borrowing helped most major UAE banks post double-digit rises in profits in the first quarter of this year. The profit surge, which comes despite a greater tax burden on the sector, has supported a renewed rally in banking stocks. […] June 14, 2025
Analysis Employment Tighter Omanisation rules for state contracts Companies operating in Oman have just under a year to adhere to Omanisation quotas or face being banned from applying for government contracts, as the Gulf state strives to increase opportunities for new Omani graduates. The decision was announced on June 2. It means companies tendering for contracts have a deadline of May 31, 2026 […] June 13, 2025
EXCLUSIVE Sustainability Bank al Etihad partners with Visa for carbon insights tool Jordan’s Bank al Etihad has partnered with Visa to offer a carbon insights tool within its app. The bank says the tool, developed by German fintech ecolytiq, gives customers information about their carbon footprint based on debit and credit card transactions. Ecolytic’s product is intended to increase consumer spending while encouraging them to make “greener […] June 13, 2025
Markets Dubai shares slide nearly 2% on Israel and Iran tensions Dubai’s benchmark stock index fell sharply on Friday, as heightened geopolitical tensions in the Middle East triggered a sell-off in heavyweight property shares. The DFM General Index dropped 1.87 percent after Israel launched strikes on Iranian military targets. Israel said it had hit nuclear and missile sites as well as targeting senior commanders, calling it […] June 13, 2025
Markets PIF banks Nintendo win but may have sold too soon Saudi Arabia’s Public Investment Fund (PIF) pocketed an estimated profit of 175 billion yen ($1.22 billion) trading Nintendo shares, but it may yet rue trimming its stake just months before the Switch 2 console’s record-breaking debut last week. The PIF has invested in video game publishers and console makers worldwide, often through subsidiary Savvy Games […] June 13, 2025
Oil & Gas Oil hits $78 and stocks rattle as Middle East tensions flare Oil prices rose more than 9 percent and the Asian stock market dived on Friday morning after Israel launched attacks on Iran. Brent surged to $78 a barrel in the biggest intraday gain since March 2022, before settling lower at $74 by 05:56 GMT. US West Texas Intermediate crude rose 9.3 percent to $74.36 a […] June 13, 2025
Markets Gold tops one-month high on haven demand Gold prices climbed on Friday to their highest point in more than a month, on track for a weekly gain, as investors sought haven assets after Israel’s strike on Iran heightened Middle East tensions. Spot gold was up 1.3 percent at $3,428.28 an ounce as of 01:34 GMT after hitting its highest level since May 7 earlier […] June 13, 2025
Analysis Telecoms Analysts opt for small Gulf telcos despite profits at majors The Gulf’s major former telecom monopolies reported steady first-quarter profit growth and have proved a safe haven for equity investors during market volatility this year. However, it is their smaller domestic rivals that analysts prefer. Saudi Telecom Co (STC), the UAE’s e& (formerly and more commonly known as Etisalat), Qatar’s Ooredoo and Kuwait’s Zain are […] June 13, 2025
Opinion Economy How GCC investors should prepare for the coming US recession The troubled US housing market signals a clear warning for the global economy June 12, 2025
Finance UAE entrepreneurs lack succession plans, warns HSBC Almost half of entrepreneurs in the UAE have no formal succession strategy in place to protect their business or family wealth, according to a report from HSBC. This failure to prepare points to a structural risk in one of the country’s most vital economic segments. While 98 percent of UAE respondents are optimistic about their […] June 12, 2025
Economy Turkish debt markets have a busy summer ahead Ankara faces a busy summer of funding its borrowing programme, rolling over existing bonds and issuing new securities to bridge a widening budget deficit, as it contends with high interest rates and persistent inflation. On Tuesday, the finance and treasury ministry conducted three lira-denominated auctions of bonds and treasury bills with a combined value of […] June 12, 2025
Banking and Finance Kuwaiti companies to face fines for not disclosing ownership Kuwait is expected to net nearly KD4.1 million ($13.5 million) from financial penalties imposed on 4,000 companies flouting transparency rules related to their ownership. The government had given more than 150,000 businesses operating in Kuwait until June 10 to disclose what it terms as “the actual beneficiary or owner” as part of a crackdown on […] June 12, 2025
Exclusive Banking and Finance Stablecoin issuer Circle targets UAE’s $44bn remittance corridor Stablecoin issuer Circle, fresh off a $1 billion initial public offering on the New York Stock Exchange, is in early talks with money-transfer houses in the UAE to plug its USD Coin (USDC) into one of the world’s busiest remittance corridors. Circle is the sole issuer of USDC, the world’s second-largest stablecoin, with a market […] June 12, 2025
Finance Egypt plans to issue first tranche of $504m sukuk Egypt is reportedly planning to issue the first tranche of the EGP25 billion ($504 million) local sovereign sukuk issuance in the third quarter of 2025. The Ijarah sukuk will be issued to test the market and gauge investor appetite, followed by remaining tranches, Ashraq News, an Arabic financial portal, reported quoting three unnamed government officials. […] June 12, 2025
Real Estate Emaar shares rise after upgrade by rating agencies Shares of Emaar Properties, Dubai’s largest listed real estate developer, rose on Wednesday after two global rating agencies upgraded its credit ratings. The stock was trading 1.5 percent higher at AED13.45 at close of trading on the Dubai Financial Market. More than 14.3 million shares had been traded. The stock has jumped nearly 5 percent […] June 12, 2025
Finance Gulf fintechs take notice of surging stock markets Growing demand from international investors trading in stocks on Gulf exchanges is creating opportunities for established and newer financial technology (fintech) companies alike to grow their Middle East business. “We have seen the interest in trading on Gulf exchanges increase steadily over time, but demand has skyrocketed in the past year,” Damian Hitchen, regional head […] June 12, 2025
Analysis Manufacturing Cement’s mixed results reflect Saudi outlook In some respects, Saudi cement producers, important constituents of the Tadawul stock exchange and bellwethers of the national economy, have never had it so good. The kingdom has an array of giga-projects underway and is preparing to host a series of high profile international events, from the World Expo in Riyadh in 2030 to the […] June 12, 2025
Finance Abu Dhabi expects more rapid growth for its financial centre The rush of financial firms setting up in Abu Dhabi to tap the emirate’s wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. Abu Dhabi, which holds 90 percent of the UAE’s oil reserves, has accelerated efforts to diversify its economy, leaning on […] June 11, 2025
Analysis Economy Saudi Arabia will issue more debt to meet budget shortfall Saudi Arabia will probably issue at least $10 billion more in bonds and sukuk this year to help fund the kingdom’s widening budget deficit. Since posting a surplus in 2022 thanks to oil prices hitting a 10-year peak that year, Saudi Arabia has posted annual deficits due to lower crude revenues and higher government spending. […] June 11, 2025
Markets Turkish bourse anticipates return of foreign investors Investors are continuing to exit Turkey’s stock exchange, despite Borsa İstanbul’s main index recovering from losses sparked by concerns over political instability. However, anticipated cuts in interest rates could see a return to the share market as traders seek richer earnings. More than 1.8 million investors stepped away from the exchange in the year ending […] June 11, 2025
Finance EU plans to remove UAE from money laundering watchlist The European Union (EU) plans to remove the UAE from its list of high-risk countries for money laundering, a move that could ease compliance burdens for investors and banks operating in the Gulf state. The decision still requires final approval from the European Parliament and Council, which have up to two months to raise objections. […] June 11, 2025
Analysis Banking and Finance Why government-related debt is worth a punt Debt sales by government-related entities (GRE) in the Gulf, such as Saudi Electricity Co and Abu Dhabi’s Mubadala Investment Co, offer better investor value than their sovereigns, experts say. Gulf foreign currency sales of conventional and sukuk (sharia-compliant bonds) rose 9 percent to $72.4 billion in the five months to May 31, compared with the […] June 11, 2025
