Finance Asset securitisation in the Gulf takes its first baby steps $14trn business in US No Saudi regulation yet UAE growth expected Asset securitisation, a $14 trillion business in the United States, seems to be finally gaining ground in the Gulf. Last week the UAE lender Deem Finance sealed a $400... Register now: It’s easy and free This content is available for registered members only. Register […] March 11, 2025
Finance Derayah share price soars on first day of trading Shares in the online brokerage Derayah Financial rose by 30 percent on their first day of trading, the maximum allowed for newly listed companies, the Saudi stock exchange said. Derayah, the third-largest broker in Saudi Arabia, floated 20 percent of its shares on the Tadawul, the main market of the Saudi Stock Exchange, in a […] March 10, 2025
Finance Mubadala sells stake in UK smart meter provider Calisen Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has completed the sale of its indirect stake in Calisen, a UK supplier of energy smart meters. Private equity infrastructure investors EQT and Singaporean sovereign wealth fund GIC will buy Calisen in a deal that values the company at around $5 billion. Mubadala, BlackRock and Goldman Sachs […] March 10, 2025
Economy Jordan’s economy on growth track as tourism recovers Jordan’s economy is forecast to grow by 2.7 percent in 2025 as tourism recovers and trade with Syria and Iraq starts to rise gradually, S&P Global said. Tourism contributes an estimated 15 percent to Jordan’s GDP, with about three-quarters of it sourced from Arab visitors, including Jordanians living abroad. “We expect the number of Arab […] March 10, 2025
Trade UAE and Central African Republic target $1bn trade Trade between the UAE and the Central African Republic is estimated to surpass AED3.7 billion ($1 billion) following the signing of a comprehensive economic partnership agreement (Cepa) last week. Cepa will create further growth and business opportunities in both countries, boosting bilateral trade over the next five to seven years, UAE minister of state for […] March 10, 2025
Analysis Finance Canada must do more to capitalise on billion dollar Saudi projects Canada and Saudi Arabia have made progress towards ending a five-year diplomatic spat and mending trade and economic relations. However experts say that more could be done to deepen exchanges and investment ties – especially as US President Donald Trump kicks off a tariff war that may encourage Ottawa to widen its circle of trading […] March 7, 2025
Economy UK lifts sanctions on Syrian central bank and oil companies The UK unfroze the assets of Syria’s central bank and 23 other entities, including banks and oil companies, on Thursday, reversing sanctions imposed during Bashar al-Assad’s presidency. The West is rethinking its approach to Syria after insurgent forces led by the Islamist Hayat Tahrir al-Sham ousted Assad as president in December after more than 13 years […] March 7, 2025
Opinion Economy Aramco’s $40bn dividends drop highlights Saudi spending The shortfall is a blow to ambitious projects and reducing dependence on the oil giant's profits March 7, 2025
EXCLUSIVE Banking & Finance Citigroup hiring to tap the Gulf family office market Citigroup says it is expanding its presence in the UAE, the second-largest Arab economy, as it competes to manage more of the assets of wealthy Gulf merchant families. $1 trillion of these assets are expected to shift to the next generation by the end of this decade. To boost its capabilities, the US bank says […] March 7, 2025
Trade Trump plans Saudi Arabia visit to reach $1trn deal US President Donald Trump said on Thursday he is likely to make his first trip abroad to Saudi Arabia to seal an agreement for Riyadh to invest upwards of $1 trillion in the US economy, including purchases of military equipment. Talking to reporters in the Oval Office, Trump said he would probably travel there in […] March 7, 2025
Analysis Markets Gulf investors urged to switch from petrochems to fertiliser Gulf fertiliser companies are trading below their fair value, with investors not seeming to price in a rebound in product prices that analysts say is more than just a seasonal upswing. In the Gulf, fertilisers and petrochemicals are considered adjacent industries, since both rely on natural gas as a feedstock. While petrochemical companies’ earnings have […] March 7, 2025
Trade Lower oil exports widen Egypt’s trade deficit Sharply lower crude oil exports allied with a surge in imports of gas caused Egypt’s trade deficit to widen by nearly 13 percent in December, implying a call on foreign exchange reserves, official data showed on Tuesday. Total exports increased slightly to $3.7 billion in December 2024 from $3.6 billion in December 2023, the country’s […] March 6, 2025
Trade GCC exports to Japan slump by more than $10bn in 2024 Exports by wealthy Gulf nations to Japan, a major economic partner, plunged by $10 billion in 2024 following a decline in oil prices, according to a trade organisation. The decline combined with an increase in Japan’s exports to the six-nation Gulf Cooperation Council (GCC) to depress the Gulf group’s trade surplus by nearly $11 billion. […] March 6, 2025
Economy Higher current spending widens Jordan’s fiscal gap Higher current expenditure widened Jordan’s budget deficit last year despite growth in revenues, the country’s finance ministry has reported. Total spending was JD11.6 billion ($16.4 billion) in 2024 compared with JD11 billion in 2023, an increase of 5 percent, the ministry said in its January bulletin published on its website at the weekend. Current expenditure, […] March 6, 2025
Economy Turkey’s central bank cuts interest rates again Turkey’s central bank has cut interest rates for the third time since December, citing an easing of inflationary pressures and a cooling of domestic demand as factors in its decision. The bank’s monetary policy committee cut its headline lending rate by 250 basis points on March 6, lowering its interest rate to 42.5 percent from […] March 6, 2025
Analysis Tax Bahrain considers raising taxes to reduce deficits Budget tax plan under discussion Wider corporate tax likely Debt burden at 130% of GDP Bahrain’s plan to end a long string of government budget deficits could prove burdensome to both businesses and people as it considers a raft of tax ... March 6, 2025
Economy Egypt’s private sector alliance targets UAE for growth A new entity comprising 41 Egyptian private companies will be set up to boost exports across the Arab countries to support economic growth, a news report said. The process of setting up Arab Alliance for Industrial Investment is expected to be completed next week, Ashraq Business reported, citing Mohamed El-Bahi, a board member of the […] March 6, 2025
Banking & Finance First Abu Dhabi Bank plans major restructuring First Abu Dhabi Bank (FAB) is planning to split its operations into four new divisions in a bid to strengthen its business in the Gulf and boost shareholder returns, two sources familiar with the matter said. As part of the reorganisation, FAB is to hire Citi dealmaking veteran Linos Lekkas as its new head of […] March 6, 2025
Video length: 04:55 VIDEO Banking & Finance The $18 trillion challenge for family offices Family offices are set to transfer more than $18 trillion to the next generation by 2030 – and that can present challenges for both the old guard and the bright young things. Those taking over Middle East family offices may be interested in cross-border investment or in newer sectors such as sustainable technology or AI, […] March 5, 2025
Trade Oman’s foreign trade up thanks to oil and gas Oman’s total foreign trade in 2024 rose by 7 percent year on year to $63 billion, led by a rise of 18 percent in oil and gas exports. However, non-oil revenues fell, underlining Oman’s continued heavy reliance on fossil fuels. Oil and gas exports jumped to $42 billion in 2024, up from $35.6 billion the […] March 5, 2025
Trade PIF signs $3bn deal with Italy’s export credit agency Saudi Arabia’s Public Investment Fund said on Wednesday it had signed a memorandum of understanding worth $3 billion with Italy’s export credit agency, SACE. The sovereign wealth fund is working to boost finances to fund the country’s giga-projects. “The MoU focuses on providing financing support for co-operation between Italian companies in the private sector and […] March 5, 2025
Construction Middle East is top recipient of Chinese Belt and Road deals The Middle East was the top recipient of construction and investment deals under China’s Belt and Road Initiative (BRI) in 2024, with the total value reaching $39 billion. That may not go down well in Washington. Saudi Arabia and construction topped the list, according to a report by Griffith Asia Institute, based in Queensland, Australia. […] March 5, 2025
