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Mashreq: inspired by your vision, empowering your success

Founded in 1967, Mashreq is the UAE’s oldest bank. Its deep-rooted industry knowledge and experience in an increasingly dynamic financial landscape make it uniquely equipped to meet its corporate clients’ needs. Operating across key regions including Mena, Asia, Europe and the US, Mashreq Corporate leverages its international network, industry insights and operational flexibility to help […]

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Western investors are increasingly looking to the Gulf for mergers and acquisitions, rather than Middle Eastern businesses only investing outward

Gulf mid-market mergers flourish as economy matures

International private equity companies are increasingly keen to buy mid-sized Gulf companies as the regional economy matures and GDP growth elsewhere falters, a corporate adviser tells AGBI. Other factors, such as Gulf family conglomerates seeking to narrow their business focus, are also spurring a rise in mergers and acquisitions, says James Jarvis, a director at […]

Commercial International Bank in Egypt is one of the Middle East lenders that signed up to the net zero alliance

Middle East banks still keen on green despite pushback

Green investments remain a trillion-dollar opportunity for Middle East investors, analysts say, despite global pushback among other banks. About $30 billion was withdrawn from climate-focused mutual funds last year as increased interest rates and scepticism over socially responsible investing or “greenwashing” generated strong headwinds. The situation will be exacerbated by President Donald Trump’s day-one executive […]

Gulf UAE Saudi PPPs

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 […]

Latest Finance News

Gulf Trump tariffs, US GCC trade, US GCC tariffs, US Gulf trade, US Gulf tariffs

Gulf likely to escape Trump tariffs, analysts say

Saudi Arabia, the UAE and the other Gulf Arab states are likely to escape US President Donald Trump’s tariff ire, analysts say. This is because the world’s largest economy by and large runs a trade surplus with them, their value added tax (VAT) is relatively low and they peg their currencies to the US dollar. […]

Saudi Arabia has increased its expenditure as it builds towards the Vision 2030 transformation plan

Spending pushes Saudi fiscal deficit to $31bn in 2024

Saudi Arabia’s fiscal deficit reached SAR116 billion ($31 billion) in 2024, driven by a 6 percent rise in expenditure, according to the ministry of finance. The deficit was in line with revised predictions made in September but roughly 50 percent higher than the SAR79 billion ($21 billion) projected at the start of the fiscal year. […]

Turkey president Tayyip Erdoğan and Pakistan's Prime Minister Shehbaz Sharif addressing a press conference in Islamabad

Turkey and Pakistan target $5bn bilateral trade

Turkey and Pakistan plan to increase bilateral trade to TL180.5 billion ($5 billion) after it rose 30 percent year on year to $1.4 billion in 2024. “The bilateral trade volume between Turkey and Pakistan reached its highest level in 2024,” Daily Sabah newspaper reported, quoting President Tayyip Erdoğan’s speech at a business forum in Islamabad. […]

SNB bank Saudi

Saudi Arabia’s biggest bank wants wealthy depositors back

Saudi Arabia’s largest bank by assets is trying to woo back wealthy customers after losing many since a merger in 2021. SNB, or Saudi National Bank, is a merger of National Commercial Bank and Samba Financial Group, formerly known as the Saudi American Bank. It has underperformed against its major domestic rivals, reporting comparatively lower […]

Turkey has more than 6,000 hectares devoted to cultivating flowers and plants, including extensive greenhouses

Cut flowers are a growth industry for Turkey

February is the busiest month for Turkey’s cut flower exporters, as Valentine’s Day on the 14th of the month results in 70 million or more blooms being shipped to markets across the continent. Revenue of between $8 million and $10 million is expected, and with International Women’s Day following close behind on March 8, increased […]

The Berlin-based food delivery company, which bought Talabat in 2015, said it will pay off its convertible bonds Delivery Hero

Delivery Hero to use Talabat IPO earnings to clear bonds

Delivery Hero is to buy back about €1 billion ($1 billion) in bonds using proceeds from last year’s Talabat IPO on the Dubai Financial Market. The Berlin-based food delivery company, which bought Talabat in 2015, said it will pay off its convertible bonds due in 2025 and 2026 and up to €350 million for 2027 […]

Airlangga Hartarto, Indonesia's coordinating minister for economic affairs, met with the UAE's economy minister

Indonesia and UAE plan to double bilateral trade

Trade between the UAE and Indonesia is set to double in the coming years, following discussions held this week at the World Government Summit in Dubai. Airlangga Hartarto, Indonesia’s coordinating minister for economic affairs, said the countries had agreed to work towards increasing bilateral trade to $10 billion per year, following a meeting with Abdulla […]

Gold is moulded into bars at a refiner in Switzerland. An orders backlog means US banks are widening their search for kilobars

US banks buy Dubai gold to counter potential tariffs

Dubai is among several global gold centres benefiting from fears among US banks that President Donald Trump might impose duties on the precious metal, analysts say. A backlog at refining facilities in Switzerland has added to US banks’ concerns about the availability of bullion. “There is now a real concern about the tariffs being imposed […]

Alpha Data IPO

Alpha Data to sell 40% stake in IPO on Abu Dhabi bourse

A 44-year-old UAE-based technology company, Alpha Data, is to list 40 percent of its capital, or 400 million shares, on the Abu Dhabi Securities Exchange (ADX), the company has said. Alpha Data’s initial public offering (IPO) subscription will run from February 20 to 25 for UAE retail and professional investors. The offer price will be […]

US President Donald Trump and Saudi Crown Prince Mohammed bin Salman discussing mutual trade, during Trump's first term

$600bn Saudi-US trade pledge ‘unlikely to be achieved’

Saudi Arabia’s pledge to increase trade and investment with the US to at least $600 billion over President Trump’s four-year term is “very optimistic” and “unlikely to be achieved,” according to a Washington-based think tank. Instead the kingdom is prioritising domestic projects and faces lower oil revenue. The commitment was made by Crown Prince Mohammed […]

NMDC's fourth-quarter net profit increase was supported by expansions into East and Southeast Asia

NMDC Group to pay $191m dividend as revenue rises

The board of Abu Dhabi’s NMDC Group has recommended paying a cash dividend of AED701 million ($191 million) after revenues surged 57 percent year on year to AED 26 billion in 2024, according to UAE state-owned Wam news agency. The payout is subject to shareholders’ approval. If approved, the group’s dividend yield will reach 13 […]

A general view of the commercial harbour of Syria's coastal city of Tartous

Turkey lifts Syria trade barriers to spur growth

Turkey has lifted trade and transit restrictions on Syria at the countries’ border, the trade ministry said on Tuesday, progressing with plans to expand trade after the fall of Syrian leader Bashar Al-Assad. Goods exported or imported between the two neighbours or transited through Syrian border crossings will now be subject to the same conditions as those […]

Iraq budget deficit, Iraq oil exports, Iraq oil, Iraq budget, Iraq oil revenue

Iraq risks higher budget deficit after oil sales fall short

Iraq’s budget deficit could be higher than forecast after the Opec member reported $92 billion in oil exports — less than expected — for the first 11 months of last of year. In June its parliament approved 2024 spending of around $163 billion, with revenue forecast at nearly $123 billion. This left a budget deficit […]

Employees at a government building in Damascus. The US has kept sanctions in place on Syria's central bank

Sanctions on Syrian banks choke economic recovery

Western sanctions on Syria’s banking sector are preventing critical investments in the war-ravaged economy, the country’s investment chief said. This is despite huge interest from Syrian and foreign investors since the fall of Bashar Al-Assad. “Sanctions have stopped everything. Right now, they are primarily on the Syrian people and are increasing their suffering,” Ayman Hamawiye, […]

Tabby may raise additional cash before its listing after being valued at $1.5bn in its funding round in 2023

Tabby hires three global banks for Saudi listing

Tabby, the buy-now-pay-later startup backed by Abu Dhabi sovereign wealth fund Mubadala, has appointed three global banks to oversee its potential initial public offering (IPO) on the Saudi stock exchange. The company has brought in HSBC Holdings, JPMorgan Chase. and Morgan Stanley to finalise the flotation process, Bloomberg reported, citing informed sources. The plans are still in the early […]