Banking & Finance Bank Muscat’s Q1 profit rises as the sector consolidates First quarter net income at Bank Muscat, Oman’s largest bank by assets, rose 8 percent on higher interest revenue from both conventional and Islamic sharia-compliant activities. The rise comes as rival Sohar International Bank, the country’s second-largest bank by assets, seeks to take over a smaller rival, raising concerns about competition in the Omani banking […] April 15, 2025
Markets Saudi health training IPO values company at $19m Future Vision for Health Training sold 2 million shares to the public in an initial public offering last week that valued the Saudi healthcare education company at SAR 70 million ($19 million), according to AGBI calculations. The sale of 20 percent of the company at SAR 7 per share was more than six times oversubscribed, […] April 15, 2025
Economy Inflation in Saudi Arabia hits 20-month high Headline inflation in Saudi Arabia hit a 20-month high in March, the General Authority for Statistics has revealed, although at 2.3 percent, up from 2 percent in February, it remains low by international standards. While housing remains the biggest single inflation driver, other factors included a weakened dollar, to which the riyal is pegged, while […] April 15, 2025
Food & Drink Saudi coffee chain Barn’s plans IPO on Tadawul Barn’s, a homegrown Saudi coffee chain, is planning an initial public offering (IPO) on the Tadawul stock exchange, with an aim to generate funds to finance Middle East expansion. It is working with Saudi regulator Capital Market Authority to meet the IPO criteria and appoint bankers for the potential offering, Bloomberg reported, citing CEO Mohammed […] April 15, 2025
Finance Abu Dhabi fines crypto company $13m for ‘serious’ violations Regulators at Abu Dhabi Global Market (ADGM) have fined crypto payment processor Hayvn, its former chief executive, and related entities nearly $13 million for violations and misconduct. The Financial Services Regulatory Authority (FSRA) investigation found “serious” breaches and misconduct by three related Hayvn companies and former CEO Christopher Flinos. A total fine of $8.9 million was […] April 15, 2025
Opinion Banking & Finance From horses to houses: the march of UAE tokenisation Digital fractional ownership is turning high-value assets into accessible investments April 15, 2025
Economy Algeria creates agency to promote non-oil exports Algeria is to create an export promotion agency to push non-oil international sales as the oil and gas producer faces plunging petroleum prices. Algerian President Abdelmadjid Tebboune revealed the plan during a meeting with national business leaders in the capital Algiers last week. Tebboune said the export promotion agency would be set up next month […] April 15, 2025
Economy Tensions in trade and politics weigh on Turkish money markets Political instability in Turkey and tariff-driven global trade tensions are weighing on Turkish money markets as international investors move out of local debt and locals buy up foreign currency. In the three weeks ending April 4, non-resident investors sold $8.5 billion of Turkish debt, according to a report released by the central bank last week. […] April 15, 2025
Markets Foreign investors cut Gulf stocks even before Trump-led turmoil In the build up to the biggest global stock market rout since at least the Covid-19 pandemic this month, foreigners were net sellers of more than $400 million of Saudi Arabian equities in March. This was the first net monthly outflow of the year and the biggest since April last year, as disappointing earnings made […] April 15, 2025
Banking & Finance Morocco’s PayTic raises $4m for Africa expansion PayTic, a Moroccan startup, has raised $4 million in a funding round and aims to expand into Africa, it said in a press statement on social media. PayTic, which has a presence in Europe and North America, works with banks and card issuers to simplify back-end processes such as chargebacks whereby a customer disputes a […] April 15, 2025
Economy Qatar to invest over $7bn in Egypt’s economy Qatar has pledged to invest $7.5 billion in Egypt as the North African country seeks to attract new money and boost economic growth, the countries said in a joint statement. The commitment was given during a meeting between Egypt’s President Abdel Fattah El-Sisi and Qatar’s Emir Sheikh Tamim Bin Hamad A-Thani, the state-owned State Information […] April 15, 2025
Banking & Finance Al Ansari says BFC buyout will lift revenues by a fifth Dubai-listed Al Ansari Financial Services expects a 13 percent rise in profits and a 20 percent increase in revenues following its acquisition of BFC Group Holdings, a competing money exchange business, the company CEO has said. “After completing the BFC deal, we have become the largest exchange company in the UAE and Bahrain and the […] April 15, 2025
Finance Indonesia and Qatar to set up $4bn joint fund Indonesian sovereign wealth fund Danantara Indonesia and Qatar Investment Authority will set up a joint fund worth $4 billion to invest in so-called domestic priority sectors in the southeast Asian country. These include food and energy security, downstream processing, digital infrastructure, healthcare and tourism, Indonesian state-run Antara news agency reported, quoting Danantara chief investment officer […] April 15, 2025
Banking & Finance Dubai floods third most costly disaster of 2024, says insurer The financial hit from last year’s Dubai floods, when the heaviest rains in the UAE’s history submerged roads, homes and airports, made it the third most costly disaster in the world in 2024, one insurance company has announced. Hannover Re, the world’s third-largest reinsurer, booked €138 million ($150 million) of losses from the April 2024 […] April 15, 2025
Banking & Finance Sources say Saudi Arabia plans to pay off Syria’s World Bank debts Saudi Arabia plans to pay off Syria’s debts to the World Bank, sources have told Reuters, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country’s paralysed public sector. The plans were revealed by “three people familiar with the matter”, Reuters said. It would be the […] April 14, 2025
Trade China and Turkey imports widen Tunisia’s trade gap Tunisia’s trade gap rose by two thirds in the first quarter as the government prioritised goods from China and Turkey, official figures show. Imports increased by 5 percent to 20 billion Tunisian dinars ($6.8 billion) in the first three months of 2025 from 19 billion dinars in the same period last year, the National Institute […] April 14, 2025
Markets Foreign activity fuels ADX trading volume Foreign and institutional investors were highly active on the Abu Dhabi Securities Exchange (ADX) in the first quarter of 2025, boosting trading volumes by more than half. The value of foreign investor trades (buy and sell) rose by 62 percent to AED70 billion ($19 billion) in the January to March period from AED43 billion a […] April 14, 2025
Logistics Oman targets $5bn investment with port expansion Oman’s Sohar Port and Freezone is seeking to draw in billions of dollars in additional investment, as the first phase of the project nears full occupancy, according to a media report. The expansion will increase annual throughput to more than 2.5 million tonnes of cargo, over $5 billion in investment and an addition of 500 […] April 14, 2025
Economy Turkey says oil price under $65 will tame inflation Turkey’s finance minister Mehmet Simsek said that if the oil price remains below $65 a barrel, it will lower year-end inflation by 1 to 1.6 points this year. Responding to a Reuters question on the impact of a fall in oil prices following recent global trade measures, Simsek said persistent oil prices below $65 could […] April 14, 2025
Analysis Trade US-China trade war brings pros and cons for the Gulf The growing trade war between the US and China, the world’s two largest economies, presents the Gulf Arab states with a complex puzzle. International commerce may shift towards new consumer and trans-shipment markets, while a recession-driven collapse in oil prices and higher-for-longer inflation because of tariffs are further risks to the region. Sectors of the […] April 12, 2025
