Oil & Gas QatarEnergy profits down by 31% Annual profits at QatarEnergy have dropped by almost a third after gas prices fell from the highs caused by Russia’s invasion of Ukraine. The state-owned company reported net profits of QAR101.9 billion ($28 billion) in 2023, down 31 percent on the previous year, when the start of the conflict in Eastern Europe caused gas prices to […] June 26, 2024
Analysis Construction Gulf construction sector rethinks contract terms as costs rise The Gulf’s construction industry is rethinking the developer-contractor relationship, and procurement and supply chain management, to stay ahead of rising prices of materials and transport bottlenecks as a result of geopolitical volatility. “We are in a part of the world that is very conducive to finding alternatives,” Imad Itani, head of innovation at the Dubai […] June 7, 2024
Real Estate Abu Dhabi developer spots opportunity in Latvia Abu Dhabi developer Eagle Hills Properties announced a €3 billion ($3.25 billion) investment in the Latvian capital city of Riga, as the UAE continues its investment drive into Europe. Eagle Hills’ Riga Waterfront, which was unveiled on Thursday, will ultimately encompass 8,000 luxury homes for 30,000 residents on a redeveloped site along 5 kilometres at […] May 23, 2024
Analysis Real Estate From buyers to sellers: Russians cool on Dubai real estate Russian property owners in Dubai are cashing in and moving to alternative foreign enclaves, pushed out by currency issues and the rising cost of living in the emirate. Emigrants from Russia flocked to Dubai in 2022 at the start of the country’s war with Ukraine. The UAE, although condemning the invasion, proved a safe haven […] May 21, 2024
Trade UAE prepares for ‘new era’ in Ukraine with trade deal The UAE has finalised the terms of a trade deal with Ukraine, as the Gulf state looks to become a key player in rebuilding the country once its war with Russia is over. The comprehensive economic partnership agreement (Cepa) aims to build on the $386 million bilateral non-oil trade between the two countries last year. […] April 29, 2024
Opinion Oil & Gas Qatar’s role as LNG colossus will grow with North Field Geopolitics, high oil price and LNG demand are upsides for Qatar April 9, 2024
Oil & Gas Oil prices rise again ahead of Opec+ talks on Wednesday Crude oil prices consolidated on Monday, following a run of increases in the first quarter, fuelled by signs of recovery in China, tighter supplies by the Opec+ producers and geopolitical tensions. Brent was trading slightly higher at $87.28 a barrel in the morning, while West Texas Intermediate rose to $83.45. Brent has gained about 15 […] April 1, 2024
Opinion Oil & Gas Oil traders ponder Putin’s reaction to Moscow attack, and decide: buy Russia's response can only mean upward pressure on crude markets March 25, 2024
Opinion People & Lifestyle Ukrainians in the UAE reflect on two years in geopolitical limbo They are living the best life they can in tragic circumstances not of their choosing March 15, 2024
Industry Emirates Global Aluminium profit falls with metal prices Emirates Global Aluminium (EGA), the UAE’s largest non-oil industrial company and one of the world’s largest aluminium producers, reported a decline in net profit last year, despite posting record production volumes of alumina, cast and hot metal for 2023. Net profit fell 54 percent year on year to AED3.4 billion ($937 million), against a backdrop […] March 5, 2024
Opinion Media & Advertising After Tucker-Putin, some advice for media interviews There are some words and phrases that always announce 'car crash ahead' February 16, 2024
Opinion Markets Markets face bumpy ride rather than soft landing Persistent inflation, high interest rates and slow growth will dog 2024 January 29, 2024
Opinion Economy GCC can emerge as ‘Middle Powers’ in second Cold War Three factors will enable the GCC to benefit from the fragmentation January 9, 2024
Opinion Economy 2023 was a year of living dangerously The Gulf will hope it can maintain its safe haven status December 26, 2023
Analysis Trade UAE-Russia trade grows as Putin arrives in Gulf President Vladimir Putin will be hoping to build on Russia’s $9 billion of trade with the UAE as he visits the Gulf this week. Putin arrived in Abu Dhabi on Wednesday and is also expected to travel to Saudi Arabia for talks with Crown Prince Mohammed bin Salman. Trade between Russia and the UAE increased […] December 6, 2023
Video length: 06:16 Opinion Finance Once off the grey list, UAE can really work on its image The UAE deserves credit for its rapid response to being placed on the financial crime watchdog's enhanced monitoring, but it has unfinished business October 30, 2023
Opinion People & Lifestyle The hopes – and insecurities – of Russian exiles in Dubai The fact is that if you land on your feet in Dubai, there is little to pull you back home October 6, 2023
Real Estate Russians snap up plots of land to build ‘Little Moscow’ in Dubai Russian investors in Dubai are working to become real estate developers or acquire clusters of homes to build “Little Moscow” communities in the emirate. Buyers from Russia have become big investors in Dubai property since sanctions imposed on Moscow locked them out of European and North American markets. The UAE has also become a key […] September 20, 2023
Finance Erdoğan says Black Sea grain deal can be restored soon Turkish President Tayyip Erdoğan said after talks with Russia’s Vladimir Putin that it would soon be possible to revive the grain deal that the United Nations says helped to ease a food crisis by getting Ukrainian grain to market. Russia quit the deal in July – a year after it was brokered by the UN […] September 5, 2023
Video length: 03:16 Video Economy Inflation in Egypt hit hard by Russia Inflation in Egypt is going to be a “long-stretched affair”, according to a Mena market researcher in a video interview with AGBI. Egypt’s annual headline inflation increased to a record 36.5 percent in July driven by high food prices. Currency devaluation and the Russia-Ukraine war have been the main factors contributing to the inflated prices. […] August 16, 2023
Analysis Tourism Moscow still a key destination for Middle East tourists Moscow remains popular for tourists from the Middle East despite the ongoing conflict between Russia and Ukraine. Russia launched a war against its neighbour in February last year, yet tourists from the Middle East made 139,600 trips to Moscow throughout 2022, according to statistics from the Moscow City Tourism Committee (MCTC). At the end of […] August 14, 2023
Real Estate Turkish home sales drop by 44% after earthquakes Macroeconomic trends, a quirk of the calendar and the market fallout from February’s earthquakes have led to a 44 percent drop in Turkish home sales, experts have told AGBI. A total of 83,636 homes were sold in Turkey in June, according to the Turkish Statistical Institute, compared to 150,509 during the same month last year. […] July 19, 2023
