Finance Lebanon bondholders pick US bank for debt talks Lebanon’s bondholders have hired US investment bank Houlihan Lokey as financial adviser for eventual debt talks, two sources familiar with the situation told Reuters. Lebanon has been engulfed in a severe economic crisis since 2019, when its financial system collapsed under the weight of massive state debts, which prompted a sovereign default in 2020. In […] March 27, 2025
Economy Egypt poised to receive more EU funding this year Egypt is expected to sign a memorandum of understanding with the European Union (EU) on previously agreed financing worth €4 billion ($4.3 billion) in the second half of the year, planning minister Rania Al-Mashat said on Wednesday. The financing is part of a €7.4 billion funding package agreed between Egypt and the EU in March […] March 27, 2025
Finance UAE’s $1.4trn US pledge is political positioning, experts say The UAE’s pledge to invest $1.4 trillion in the US over the next 10 years is about political positioning rather than exact numbers, according to experts. The country committed to a 10-year $1.4 trillion investment in AI infrastructure, semiconductors, energy and American manufacturing during a meeting in Washington last week, according to a White House announcement. […] March 27, 2025
Markets Junior Saudi market considers easing investor requirements Saudi Arabia’s Capital Markets Authority has proposed reforms to broaden the investor base of the kingdom’s junior stock market in an attempt to increase liquidity. The changes relax the requirements to register as a “qualified investor” on Nomu, the parallel alternative to the Tadawul, and extend this designation to board and committee members of listed […] March 26, 2025
Analysis Finance Cheque ban and banking changes endanger Tunisian growth Reforms aimed at reducing Tunisians’ usage of cheques and thereby cutting consumer debt are having a negative impact on the country’s overall economic growth, according to economists. Cheques had until recently been an important tool for both payments and credit in Tunisia, but in February new laws aimed at strengthening the ailing Tunisian economy and […] March 26, 2025
Opinion Trade UAE sharpens focus on China for business growth The relationship between the two countries is China's most robust in the Middle East March 26, 2025
Tax Bahrain approves environmental tax on companies Bahrain is to become the first country in the Arabian Gulf to introduce an environmental tax on companies as the island state struggles to rein in a growing budget deficit and bring government finances under control. The government of the region’s smallest nation by population has approved in principle a levy on carbon dioxide emissions […] March 26, 2025
Analysis Banking & Finance Caution advised over upsurge in Kuwaiti bank shares Shares in Kuwaiti banks are hitting new highs as investors bet on a long-mooted change in the law on mortgages coming into force soon and spurring a boom in property financing. However, analysts are warning that the sector’s equity rally may prove unjustified, with any earnings windfall unlikely to be as substantial as those enjoyed […] March 26, 2025
Trade Oman’s exports rise after Duqm refinery comes online Oman’s exports grew last year as a result of a sharp increase in oil refining production after the Duqm Refinery became operational, official figures show. Export of refined products almost trebled last year after the start-up of the $9 billion Duqm Refinery, a joint venture between the Omani government-owned OQ and Kuwait Petroleum International, a […] March 26, 2025
Economy Egypt’s deficit stretched by high imports and regional tension Egypt’s current account deficit more than doubled in the first quarter of the current fiscal year and the gap is expected to widen further, a Kuwaiti bank says. Key factors for the massive deficit include a surge in imports and lower Suez Canal revenues due to regional tensions, National Bank of Kuwait (NBK) said in […] March 26, 2025
Finance UAE banks back Turkey Wealth Fund’s $1.2bn loan State-backed Turkey Wealth Fund has secured its first loan without a treasury guarantee, backed by UAE-listed banks, a local newspaper reported. The sovereign fund raised €1.1 billion ($1.2 billion) two-year syndicated loan from 20 banks from 12 countries, Daily Sabah reported. The interest rate was set at Euro interbank offered rate, plus 2 percent annually for […] March 26, 2025
Finance Adia-backed London insurer seeks funds for growth Ardonagh Group, a British insurance group backed by the Abu Dhabi Investment Authority (Adia), is reportedly close to raising $2.5 billion to fund its expansion. The London-based company will also use the funds for potential acquisitions, Bloomberg reported, citing unnamed sources. In December 2024, Adia and US private equity Stone Point Capital announced an investment in […] March 26, 2025
Analysis Banking & Finance Riyadh’s financial ambitions bump up against hard reality Saudi Arabia wants to emulate London or Hong Kong in the international money markets and become a global financial centre, Saudi investment minister Khalid Al-Falih said at a capital markets conference in Riyadh in February. “We need to channel global capital,” he said. “We want to become a regional financial hub.” But judging by the […] March 26, 2025
Renewable Energy Masdar weighs IPO on Abu Dhabi stock exchange Abu Dhabi’s state-owned renewables company Masdar is in the early stages of considering an initial public offering (IPO), three people with knowledge of the matter told Reuters. The company is considering a possible listing in Abu Dhabi to raise funding for renewable projects, said two of the sources, with one of them saying a dual […] March 26, 2025
Markets Cerebras IPO still in limbo over US fears on Abu Dhabi stake Worries in the United States over a stake by an Abu Dhabi company in Cerebras Systems, the US chipmaker, are continuing to leave its IPO in limbo, five sources familiar with the matter said. The sticking point for California-based Cerebras is the review by the Committee on Foreign Investment in the United States (CFIUS) of […] March 25, 2025
Economy Kuwait endorses 2025-26 budget with bigger deficit Kuwait has endorsed its budget for the next fiscal year 2025-26 with a higher deficit because of lower expected oil income. An emiri decree published in the official gazette set allocations for ministries and other government offices for the budget which starts on April 1. Spending was put at KD24.5 billion ($80.8 billion) and the […] March 25, 2025
Analysis Finance Turkish political turmoil risks undermining US investor appetite Last week’s arrest of the mayor of Istanbul and resulting political unrest in Turkey’s financial capital may cool US companies’ interest in doing business in the country, industry observers say. Ekrem İmamoğlu, a popular opposition figure who had been gearing up to run in the 2028 presidential election, was detained last Wednesday on charges of […] March 25, 2025
Analysis Finance Gulf investors pile into crypto to hedge against risk Institutional investors in the Gulf are increasingly turning to cryptocurrencies to better manage their risk. Global currency fluctuation and sustained inflation are encouraging investors to add bitcoin and other digital assets to their portfolios, according to a study by Singapore-based QCP, a digital asset trading company. Notable institutional Gulf investments in crypto so far this […] March 25, 2025
Finance Umm Al Qura shares soar as more Saudi IPOs approved Shares in Saudi Arabia’s Umm Al Qura for Development and Construction surged 30 percent on Monday, the maximum allowed on a first day of trading. The Capital Markets Authority (CMA) also approved another three companies for initial public offerings. Within minutes of the opening of the Saudi Exchange, after Umm Al Qura raised SAR1.96 billion […] March 25, 2025
Finance Profits of Muscat-listed companies surge over 50% in 2024 Net profits of publicly-listed companies on the Muscat Stock Exchange rose 53 percent to OMR1.3 billion ($3.4 billion) in 2024, compared to OMR877 million in 2023, according to a news report. Of the 90 listed companies, 69 reported profits in 2024, up from 68 in the previous year, Oman Daily Observer reported. Despite the number […] March 25, 2025
