Video length: 03:49 VIDEO Banking and Finance Crypto crimes drop due to blockchain transparency Illicit activity in cryptocurrency transactions has plummeted as a result of investment in compliance levels across the digital asset industry. Binance, the world’s largest cryptocurrency exchange platform, says shadowy practices including money laundering have dropped from 0.6 percent to 0.15 percent. More traditional currencies, which are usually issued by governments, last year had a much […] May 29, 2025 In association with
Markets Gulf stocks mixed as oil climbs on latest Trump tariff twist Equity markets across the Gulf had a mixed day on Thursday as a rebound in oil prices and a temporary lull in global volatility offered some respite following a US court ruling that struck down former President Donald Trump’s sweeping tariff measures. Brent crude rose 1 percent to $63.78 a barrel by 15:00 Gulf Standard […] May 29, 2025
Opinion Banking and Finance Saudi Arabia’s troubled Swiss banking connection Gulf anger simmers as Swiss and US bailouts burn sovereign billions May 29, 2025
Trade EU launches UAE trade talks despite watchlist status The European Union has relaunched free trade talks with the UAE, even as it continues to keep the Gulf state on its money laundering watchlist, a designation that can pose risks for investors. In February last year the UAE was removed from the Financial Action Task Force (FATF)’s grey list after being praised for reforms […] May 29, 2025
Finance Mubadala’s $1bn sukuk order book oversubscribed five times Abu Dhabi sovereign wealth fund Mubadala has sold $1 billion in 10-year US dollar-denominated Islamic bonds, or sukuk, in its first debt sale of the year, news service IFR said on Wednesday. Acting through the Mamoura Diversified Global Holding debt vehicle, Mubadala priced the bonds at 60 basis points (bps) over US treasuries, narrower than […] May 29, 2025
Banking and Finance UAE firms approach Italy to buy UniCredit’s Russia business Three companies based in the UAE have approached the Italian Treasury with a proposal to buy the Russian operations of UniCredit at a steep discount, a document seen by Reuters showed. UniCredit is under pressure both from the European Central Bank and Italy’s government to quit Russia, where it runs a commercial lender. It has so […] May 28, 2025
Real Estate Dubai Residential REIT takes off on bourse debut Dubai Residential REIT surged on its bourse debut on Wednesday as investors who missed out on its $584 million initial public offering (IPO) bought the stock. The success is being seen as an indication of enduring confidence in the emirate’s buoyant property sector. A real estate investment trust (REIT) owns or finances income-generating property, enabling […] May 28, 2025
Economy Oman raises borrowing to settle budget deficit Oman has posted a fiscal deficit for the first three months of this year and it is resorting to borrowing to maintain a balanced budget in 2025. The sultanate posted a deficit of OR136 million ($352 million) for the first three months of 2025, which is 16 percent lower than the deficit of the same […] May 28, 2025
Oil & Gas Aramco defies oil slump with strong $5bn bond sale Saudi Aramco’s $5 billion bond sale on Tuesday saw spreads tighten, suggesting a strong market appetite for the company’s debt despite falling oil prices. The state-owned oil company sold bonds in three tranches. A 5-year issue, which was priced at 80bps over US treasury bonds, tightened from its original 115bps guidance. The spread of a […] May 28, 2025
Economy IMF urges Egypt to move faster on asset sales to create jobs Egypt must be even more ambitious in its efforts to bolster growth and employment prospects as its economic picture gradually improves, the International Monetary Fund said on Tuesday. The Egyptian government should in particular move forward with plans to sell state assets and work towards “decisively reducing the role of the public sector in the […] May 28, 2025
Markets Syria to reopen stock market early next month Syria will reopen its stock market on June 2, six months after trading was suspended. The market will initially open for three days a week, finance minister Yisr Barnieh told the state news agency Sana. He said necessary measures are being implemented to ensure compliance with anti-money laundering regulations. Syria is seeking to attract foreign investment […] May 28, 2025
Analysis Markets United Carton’s shares fall on Tadawul first day Shares in United Carton Industries Company fell on their debut in Riyadh on Tuesday, making it the only Saudi company this year to end its first day below its initial public offering price. UCIC closed at SAR49.25, 1.5 percent below the IPO price of SAR50, in the first Saudi listing since President Donald Trump‘s tariffs […] May 28, 2025
Oil & Gas Saudi Aramco seeks funds through three-part bond sale Oil giant Saudi Aramco wants to raise funds through a dollar-denominated three-part bond sale, fixed income news service IFR reported on Tuesday. The debt deal, which is expected to be priced later in the day, will be benchmark-sized, which is usually considered to be at least $500 million. Earlier this month, Aramco reported a 4.6 percent drop in […] May 27, 2025
Analysis Trade Made in Saudi? Deal for Boeing F-15 parts still on the runway Boeing’s announcement that it may manufacture parts for fighter jets in Saudi Arabia highlights deepening commitments between the kingdom and the US, as well as the challenges of turning them into reality. During President Donald Trump’s trip to the Gulf this month, hundreds of billions of dollars of deals were signed in sensitive sectors such […] May 27, 2025
Retail Investcorp nets fourfold gain on exit from India’s Citykart Bahrain-based asset manager Investcorp has reportedly sold its entire stake in Citykart, an Indian fashion retailer, making a fourfold return on its 2019 investment. The stake sale was part of the startup’s series B funding round, which saw Citykart raise INR5.4 billion ($63 million), local media reported. Investcorp acquired the stake from the asset management […] May 27, 2025
Banking and Finance Turkey to guarantee loans to struggling manufacturers Turkey’s government has launched a loan guarantee scheme for small and medium-sized manufacturers, aiming to ease pressure on a sector hard hit by rising interest rates. Treasury and finance minister Mehmet Şimşek announced last week that almost $770 million of credit would be made available through the Credit Guarantee Fund (CGF), a scheme revived since […] May 27, 2025
Utilities Abu Dhabi’s Taqa focuses on US market Abu Dhabi National Energy Company, or Taqa, is exploring buying companies in the US and elsewhere, its chief executive told Reuters. The state-owned utility is continuing its international expansion and is striving to reach ambitious growth targets. “The US is a key market for us,” and “if the right opportunity presents itself for Taqa, we […] May 27, 2025
Trade GCC and Malaysia begin official FTA talks The Gulf Cooperation Council (GCC) and Malaysia have restarted negotiating a long-delayed free trade agreement (FTA) to strengthen economic and trade relations. “Malaysia considers the GCC to be one of its most valued trade partners in West Asia,” investment, trade and industry minister Tengku Zafrul Aziz said in a statement. The GCC comprises Bahrain, Kuwait, […] May 27, 2025
Trade Oman’s trade faces Q1 headwinds as oil exports fall Oman’s total foreign trade in the first quarter of 2025 declined by 10.4 percent year on year to $14.7 billion, dragged down by a 16 percent drop in oil and gas exports. Oil and gas exports fell to $9.6 billion in the first three months of this year, from $11.4 billion the same time last […] May 27, 2025
Analysis Oil & Gas US investors ‘would be first in line for any Aramco asset sale’ Asset sales could allow Saudi Aramco to maintain its capital expenditure plans and keep its government shareholders happy with dividends, analysts have said. The national oil company is reportedly looking for investors to buy stakes in its subsidiaries and infrastructure, with a particular focus on its $100 billion Jafurah gas field project, according to a […] May 27, 2025
Markets Saudi Comic Con organiser sells shares in IPO The organiser of World Wrestling Association events in Saudi Arabia and the first Comic Con, a convention celebrating comic books, is selling shares to the public as the kingdom offers more entertainment opportunities to its population. Riyadh-based Time Entertainment is selling 200,000 shares, a 20 percent stake, to raise as much as SAR16 million ($4.27 […] May 26, 2025
Economy Bahrain T-bills oversubscribed despite debt concerns The government of Bahrain sold close to $190 million in three-month treasury bills this week in a sale that was almost three times oversubscribed, despite IMF concerns over the kingdom’s rising debt levels. The BD70 million in bills carry a weighted average interest rate of 5.23 percent, the state-run Bahrain News Agency (BNA) reported on […] May 26, 2025
