Trade Turkey’s exports to US surge but tariffs are a threat Turkey’s exports to the US rose by $1.26 billion year on year to more than $13 billion in 2024, official data shows. The chemical and chemical products sector accounted for the largest share of exports at $1.5 billion, state-run Anadolu Agency reported, citing data from the Türkiye Exporters’ Assembly (TİM). The automotive industry followed at $1.2 […] January 21, 2025
Energy Trump doubles down on energy and trade on first day in job US President Donald Trump pushed forward with multiple, controversial campaign pledges on the first day of his second term in the White House, including on issues such as energy and trade that are bound to affect Gulf economies. Ascribing stubbornly high inflation to “massive” government overspending and “escalating” energy prices, Trump declared after his inauguration […] January 21, 2025
Analysis Trade Trump’s bravado fails to spook minerals market – so far Ordinarily, commodity markets tend to react strongly when leaders of major global economies announce plans for war and conquest. If those plans involve disrupting one of the world’s most important sea lanes and reversing centuries of peace with two major allies, you might even expect a certain panic. Yet, when US President-elect Donald Trump declined […] January 21, 2025
Opinion Economy Trump’s tariffs are bullish for GCC capital markets – for now King Dollar is currently the beneficiary of classic FX market overshooting January 20, 2025
Analysis Trade Trump inauguration: Saudi Arabia comes into focus Saudi Arabia looms large as Donald Trump moves back into the White House for a second term as US president, and there are many opportunities for cooperation along with significant challenges. Since Trump was first elected in 2016, one would be “hard pressed” to name a more changed nation than Saudi Arabia, according to Richard […] January 20, 2025
Real Estate Eagle Hills plans Trump hotel project with Kushner The Abu Dhabi-based developer Eagle Hills and Affinity Partners, an investment firm founded by Donald Trump’s son-in-law, Jared Kushner, have agreed to build a luxury hotel and apartment complex in Serbia’s capital, Belgrade. The project, on the site of the former Yugoslav defence ministry, will feature a 175-room Trump hotel as its centrepiece, and 1,500 […] January 17, 2025
Opinion Real Estate On the 19th hole with Trump and Damac What better place than Trump International Golf Course to watch the inauguration January 17, 2025
Analysis Trade Tariffs and tech on the UAE’s radar as Trump takes office When billionaire developer Hussain Sajwani appeared on stage with Donald Trump earlier this month to announce $20 billion worth of investment in US data centres, he did not hide his glee about the Republican’s return to the White House. The chairman of UAE-based Damac Properties called Trump’s re-election in November “amazing news” and said his […] January 17, 2025
Opinion Finance Trump would do well to look to UAE for crypto guidance Incoming US policy will boost blockchain innovation and, in turn, cryptocurrencies January 16, 2025
Trade Blinken says Saudi-Israeli deal ‘much closer’ in final speech The long sought-after normalisation of bilateral relationships between Saudi Arabia and Israel remains within reach and is the best path toward a stable Middle East, Antony Blinken said yesterday in his final speech as US secretary of state. “Much of the heavy lifting for normalisation is complete, including negotiations on complex US-Saudi elements of an […] January 15, 2025
Oil & Gas Oil may hit $90 on Russia curbs and Iran output cut Brent crude oil prices could rise above $85 a barrel in the short-term if the latest round of US sanctions against Moscow leads to lower Russian oil output, Goldman Sachs said on Sunday. Prices could touch $90 a barrel if the decline in Russian output coincides with a reduction in Iranian production, the bank said. US president Joe Biden imposed the broadest package of sanctions so […] January 13, 2025
Construction Damac to tokenise $1bn in real estate Damac Group, the Dubai property company, has partnered with the Hong Kong-based blockchain platform Mantra to tokenise assets worth at least $1 billion. The project will use blockchain technology to create digital tokens representing ownership or rights to Damac’s assets, allowing them to be traded online. Tokenisation is intended to lower barriers to investment by […] January 10, 2025
Trade Trump tariffs: Middle East braces for pain after gain Middle East exporters to the US are likely to see a short-term increase in business ahead of the much talked about trade tariffs which are expected to be announced when Donald Trump returns to the White House this month. The US president-elect campaigned on a protectionist America-first agenda, promising to introduce sweeping tariffs globally. Trump […] January 10, 2025
Trade Turkey hopes trade deals will protect it from Trump’s tariffs Turkey’s network of trade agreements, combined with its pivotal role as a major regional logistics and services provider, should help it weather any trade policy shifts by Washington in the coming years, according to the country’s finance minister. Speaking at a meeting hosted by the Independent Industrialists and Businessmen’s Association in Istanbul on January 8, […] January 9, 2025
Economy Trump tariffs could hit foreign investment, Oman warns Oman’s buoyant non-oil sector will help the sultanate’s economy expand this year at nearly twice the rate of 2024, its sovereign wealth fund has forecast. However, the fund warned that US president-elect Donald Trump’s plans to implement tariffs on its trading partners could hamper ambitions by the sultanate to increase foreign direct investment and reduce […] January 9, 2025
Oil & Gas Iran seeks to free 25m barrels of oil stuck in Chinese ports Iran is pushing to free 25 million barrels of the country’s oil that has been stuck for six years in Chinese ports because of sanctions imposed by Donald Trump during his first presidency, sources have said. Trump is expected by analysts to tighten sanctions again on Iranian oil exports tolimit Tehran’s income when he returns […] January 8, 2025
Tech Trump reveals $20bn from Sajwani for US data centres Incoming US president Donald Trump and Hussain Sajwani, the billionaire chairman of Damac Properties, announced on Tuesday that the emirati will invest “at least” $20 billion in data centres across the US. The move represents the official entry of EDGNEX, Damac’s specialised subsidiary, into the American market as demand for cloud computing and artificial intelligence […] January 8, 2025
Finance UAE’s Phoenix Group opens US crypto mining facility Phoenix Group, an Abu Dhabi Securities Exchange-listed company and one of the world’s leading bitcoin miners, has launched its 50 megawatt (MW) cryptocurrency mining facility in North Dakota, US. The opening of the site is part of the company’s bid to expand its capabilities and investments in the US. The company said that the facility, […] January 6, 2025
Trade Turkey hikes tariffs on Chinese cars to boost investment Turkey has accelerated its policy of targeted tariffs on Chinese vehicles, increasing levies on gasoline and hybrid model imports. Industry insiders believe the move is designed to protect local manufacturers and encourage Chinese investors to set up in the country, even though it is likely to further anger Beijing. The Ankara government announced that tariffs […] January 3, 2025
Video length: 03:59 VIDEO Finance Investors wary of inflation as Trump pursues ‘America first’ policy When Donald Trump returns to the White House his “America First” policy is likely to increase inflation and global economic fragmentation, according to analysts. “We [the Middle East] need to be much more picky about particular geographies, asset classes and even themes that we favour,” said Ben Powell, chief investment strategist at BlackRock’s Investment Institute, […] December 31, 2024
Tourism Abu Dhabi records 26% rise in international visitors Abu Dhabi welcomed almost five million guests to its hotels in the year through to October. The latest figures from the Department of Culture and Tourism (DCT) Abu Dhabi show that the number of international guests was up 26 percent year on year over the 10-month period. Visitors mainly came from India, China, Russia, the […] December 27, 2024
Oil & Gas Qatar threatens LNG halt over EU due diligence law Qatar has threatened to cease liquefied natural gas (LNG) shipments to the European Union (EU) if the bloc enforces a corporate sustainability due diligence directive, according to a news report. The directive, set to take effect in 2027, imposes penalties for companies failing to meet stringent standards on environmental protection and forced labour in supply […] December 23, 2024
