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Workers at Woodside's Pluto LNG in Australia. Louisiana LNG is targeting first production in 2029

Kuwait in talks to buy stake in Woodside’s Louisiana LNG

Australian petroleum company Woodside Energy Group is in negotiations with Kuwait Foreign Petroleum Exploration (Kufpec) to sell a stake in its Louisiana liquefied natural gas (LNG) project. Kufpec, state-owned Kuwait Petroleum’s overseas unit, is considering both acquiring equity and securing LNG supply from the US facility, Bloomberg reported, citing people familiar with the matter.  The […]

Mature Male Stock Market Broker Looking At Multiple Computer Screen In Office

Dollar slump impacts foreign Gulf stock investors

The dollar’s descent to multi-year lows against other major currencies presents a dilemma for foreign investors in Gulf stocks. Regional currencies are pegged to the US currency, aside from the Kuwaiti dinar which tracks a basket of currencies that is heavily dollar weighted. So, a lower dollar makes buying Gulf stocks cheaper for investors from […]

Riyadh Air CEO Tony Douglas (left) at the 2023 singing of an order with Boeing for 72 aircraft

Riyadh Air willing to buy Boeing planes cancelled by China

Riyadh Air CEO Tony Douglas has said that the Saudi startup carrier would be ready to buy Boeing aircraft destined for Chinese airlines if they are not delivered due to the escalating trade war between the United States and China. Boeing is looking to resell potentially dozens of planes locked out of China by tariffs […]

A guest takes photos of a Tesla, displayed during the launch of the company's first showroom in Riyadh, Saudi Arabia electric vehicles

Saudi Arabia’s EV ambitions face ‘chicken and egg’ dilemma

Few of the car enthusiasts who attended Tesla’s launch in Riyadh last month arrived in electric vehicles.  Hundreds turned out for the much-heralded opening event in Riyadh, an indication that the furore around the Tesla brand and its owner Elon Musk has not crossed the Atlantic.  Despite this, public enthusiasm for electric vehicles (EVs) in […]

Regional investors may favour investments such as utilities and telecom companies with domestic operations

Market volatility adds allure to utilities and telecoms

In a month of wild market swings, Gulf equity investors have felt panic, trepidation, bewilderment and more. With further volatility probable, experts say a prudent strategy is to focus on defensive sectors less exposed to the global economy. Gulf bourses tumbled in early April, along with the US dollar and oil prices, after President Donald […]

Mubadala CEO Khaldoon Al Mubarak said the wealth fund is taking more time to look at investments

US-driven trade war forces Mubadala to change ‘assumptions’

Abu Dhabi sovereign wealth fund Mubadala Investment Company said it will take more time to consider its investments and is changing its “base case assumptions” against the backdrop of heightened global trade tensions driven by the US. The fund, which has more than $300 billion of assets under management in over 50 countries around the […]

CEL-SCI wants approval to test Multikine in Saudi Arabia

US biotech seeks Saudi approval for cancer treatment

US-listed biotech company CEL-SCI Corp plans to file for regulatory approval in Saudi Arabia for its experimental cancer treatment Multikine, part of a push to tap growing demand for advanced treatments and expand in the Middle East and North Africa (Mena). The Virginia-headquartered company, which develops immunotherapies for cancer and infectious diseases, is also in […]

Boeing's factory in Kansas. Chinese customers are declining aircraft deliveries due to the ongoing trade conflict with the US

China’s Boeing boycott opens doors for Gulf carriers

China’s escalating trade standoff with the US is reverberating through the global aviation industry, offering opportunities for Gulf airlines, as Chinese carriers refuse to accept US-built Boeing aircraft. Speaking on a first quarter earnings call on Wednesday, Boeing CEO Kelly Ortberg confirmed that several Chinese customers have declined to accept new aircraft due to retaliatory […]

New York's Fortress Investment Group has entered into a deal with Abu Dhabi's Mubadala

Mubadala and Fortress form $1bn private credit partnership

Abu Dhabi’s Mubadala Investment Company has entered into a $1 billion strategic partnership with New York-based Fortress Investment Group to invest in private credit, the companies said on Thursday. Private credit has expanded in recent years, attracting investments from some of the world’s largest asset managers, as stricter regulations make it more expensive for traditional lenders to finance riskier […]

Amirah al-Turkistani, a graphic design lecturer at Jeddah International College, shops with her children and husband at a supermarket in Jeddah, Saudi Arabia, February 3, 2018. REUTERS/Reem Baeshen SEARCH "BAESHEN WOMEN" FOR THIS STORY. SEARCH "WIDER IMAGE" FOR ALL STORIES.

What a plunging dollar means to Gulf imports and inflation

The dollar’s slump to multiyear lows against many major currencies risks raising import costs in the dollar-pegged Gulf economies, fuelling inflation and pressuring business profitability, analysts say. From mid-January, the dollar is down 11 percent against each of the euro (to its lowest in more than three years), the Japanese yen (its lowest since late 2023), […]

GCC officials are expected to push for better access to advanced US semiconductors and AI tech during Donald Trump's visit to the Gulf

Donald Trump will visit Gulf nations in May

US President Donald Trump will visit Saudi Arabia, Qatar and the United Arab Emirates from May 13 to 16, the White House has confirmed. The highly anticipated visit to the Gulf region will mark Trump’s second foreign trip of his second term, as he will first travel to Rome this week for Pope Francis’ funeral. […]

People walk in front of the Pepsi Cola sign at Gantry Plaza State Park in Long Island City, Queens, New York City.

PepsiCo to open Saudi research centre for Arab tastes

PepsiCo has said it plans to open a research and development facility in Saudi Arabia focused on developing new products for Middle Eastern consumers. At a cost of SAR30 million ($8 million), the centre will be the largest of its kind in the Gulf region and located in Riyadh, the US company said as it […]

Trucks carrying containers at Jordan's port of Aqaba: the country is likely to be one of the worst hit by Donald Trump's tariffs

Trump tariffs threaten $22bn in Arab exports says UN

Bahrain and Jordan are the countries likely to be most affected by tariffs planned by President Donald Trump on non-oil exports by the Arab world to the US worth nearly $22 billion, a United Nations body has warned. Despite a sharp fall in the region’s sales of oil to the US over the past decade, […]

Turkish finance minister Mehmet Simsek said he would attend around 15 meetings each day in the US

Turkey courts US companies and investors during visit

Turkish finance minister Mehmet Simsek said he will meet with rating agencies, investors and companies planning to shift supply to Turkey during a visit to the US this week. “I will be in America this week for the IMF, World Bank and G20 meetings. We will meet with rating agencies in New York at the […]

Tech startup Manara and Amazon Web Services will train 2,500 Gulf engineers in cloud software skills over the next two years

Amazon partners Mena startup to train Gulf cloud engineers 

Amazon has partnered with the Middle East and North Africa social impact startup Manara to train thousands of people in the UAE and Saudi Arabia in cloud software skills. Amazon Web Services, a division of Amazon that provides on-demand cloud computing platforms to individuals, companies and governments on a metered, pay-as-you-go basis, will invest $3.6 […]

Men withdraw cash from an ATM outside Qatar National Bank. Qatar's banks have the highest amount of non-resident deposits in the GCC

GCC banks unlikely to escape US tariff impact

US President Donald Trump’s imposition of additional import tariffs will trouble GCC banks, despite the bloc’s meagre non-oil exports to the United States, according to analysts. Trump’s tariff strategy, targeted principally at China but worldwide in scope, has roiled global equity markets, sent the dollar tumbling and exacerbated oil price declines. As such, “the indirect […]